Hill City Capital, LP
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Hill City Capital, LP reported 23 stock positions worth $2.8 billion. Its top holding was Mastec (MTZ) at 24.8% of the portfolio, followed by First Solar (FSLR, 15.3%) and Dycom Industries (DY, 12.2%). Compared with Q4 2025, it opened 4 new positions, sold out of 4, added to 7 and reduced 2. The biggest buy was a new position in Stmicroelectronics NV-NY SHS (STM) and the biggest sale an exit from 3M (MMM).
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0001837343
- Portfolio Value
- $2.8B (Q1 2026)
- SEC Filing
- 0001837343-26-000004 ↗ filed May 15, 2026
Holdings Value
Holdings 23 stocks · $2.8B
| MTZ Mastec Inc. | 24.77% | 2,155,000 | $693.3M | No change |
| FSLR First Solar Inc. | 15.35% | 2,177,540 | $429.5M | Add +4.2% |
| DY Dycom Industries Inc. | 12.22% | 1,009,784 | $342.1M | No change |
| IP International Paper Co. | 5.36% | 4,200,000 | $149.9M | Add +72.8% |
| GVA Granite Construction Inc. | 4.75% | 1,110,048 | $133.1M | No change |
| CX Cemex Sab-Spons ADR Part Cer | 4.42% | 10,802,750 | $123.6M | No change |
| CTRI Centuri Holdings Inc. | 4.21% | 4,030,000 | $117.7M | No change |
| CRH CRH PLC | 4.04% | 1,076,400 | $113.2M | Add +2.9% |
| BA The Boeing Co. | 3.92% | 551,483 | $109.8M | Add +6.4% |
| JHX James Hardie Ind PLC | 3.80% | 5,621,700 | $106.5M | Add +9.8% |
| ARRY Array Technologies Inc. | 3.33% | 12,891,300 | $93.2M | No change |
| STM Stmicroelectronics NV-NY SHS | 2.84% | 2,300,000 | $79.5M | New |
| WMS Advanced Drainage Systems Inc. | 1.81% | 370,000 | $50.7M | Add +131.3% |
| ATS Ats Corp. | 1.66% | 1,649,857 | $46.5M | No change |
| ATKR Atkore Inc. | 1.53% | 728,206 | $42.9M | No change |
| CNM Core & Main Inc. Class A | 1.53% | 867,600 | $42.9M | Add +8.9% |
| ENS Enersys | 1.18% | 190,000 | $33.0M | Reduce -59.4% |
| TREX Trex Company Inc. filed as TREX INC | 0.72% | 550,000 | $20.0M | Reduce -0.4% |
| WBI Waterbridge Infrastruc Class A | 0.67% | 700,000 | $18.8M | No change |
| TFII Tfi International Inc. filed as TRANSFORCE INC | 0.56% | 145,000 | $15.8M | No change |
| EQPT Equipmentshare.com Inc. Class A | 0.55% | 750,000 | $15.3M | New |
| WOLF Wolfspeed Inc. | 0.52% | 885,000 | $14.4M | New |
| MWH Solv Energy Inc. Class A | 0.27% | 250,000 | $7.5M | New |
Portfolio Sells Q4 2025 → Q1 2026
Portfolio Buys Q4 2025 → Q1 2026
| STM Stmicroelectronics NV-NY SHS | New | 2.84% | +2.84 |
| IP International Paper Co. | Add +72.8% | 5.36% | +1.74 |
| WMS Advanced Drainage Systems Inc. | Add +131.3% | 1.81% | +0.94 |
| EQPT Equipmentshare.com Inc. Class A | New | 0.55% | +0.55 |
| WOLF Wolfspeed Inc. | New | 0.52% | +0.52 |
| MWH Solv Energy Inc. Class A | New | 0.27% | +0.27 |
| CNM Core & Main Inc. Class A | Add +8.9% | 1.53% | −0.03 |
| JHX James Hardie Ind PLC | Add +9.8% | 3.80% | −0.21 |
| BA The Boeing Co. | Add +6.4% | 3.92% | −0.33 |
| CRH CRH PLC | Add +2.9% | 4.04% | −0.89 |
| FSLR First Solar Inc. | Add +4.2% | 15.35% | −5.27 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 28 | $4.3B | MTZ, FSLR, DY, DPC, STM |
| Q1 2026 | 23 | $2.8B | MTZ, FSLR, DY, IP, GVA |
| Q4 2025 | 23 | $2.6B | FSLR, MTZ, DY, CRH, GVA |
| Q3 2025 | 22 | $2.4B | FSLR, MTZ, DY, CRH, GVA |
| Q2 2025 | 19 | $1.9B | MTZ, FSLR, DY, SPR, GVA |
| Q1 2025 | 17 | $1.3B | MTZ, SPR, FSLR, DY, CRH |
| Q4 2024 | 19 | $1.6B | MTZ, SPR, FSLR, DY, TGI |
| Q3 2024 | 22 | $1.5B | MTZ, SPR, DY, FSLR, CRH |
| Q2 2024 | 24 | $1.4B | MTZ, SPR, ARRY, DY, FSLR |
| Q1 2024 | 22 | $1.4B | SPR, MTZ, ARRY, CRH, DY |