Hill City Capital, LP — 13F Holdings & Portfolio
CIK 1837343 · latest 13F-HR filed 2026-08-17
Hill City Capital, LP manages $4.28B in 13F-reported U.S. long-equity assets across 28 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are MTZ (20.94%), FSLR (14.48%), DY (11.92%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 6 new positions and exited 1; 17 existing positions rose in reported value and 0 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
Long-equity book
Distinct positions
Filed 2026-08-17
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
4 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 79.9%Cumulative share of the portfolio held in the largest N positions.
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| FRAZIER, HERBERT, ANSELEM Control | CHIEF INVESTMENT OFFICER/ LIMITED PARTNER/ MANAGING PARTNER | Less than 5% | Individual |
| FRAZIER, HERBERT, ANSELEM Control | MEMBER | 25–50% | Individual |
| FRAZIER, HERBERT, ANSELEM Control | MANAGING MEMBER | General partner | Individual |
| HCITY HOLDINGS, LLC Control | LIMITED PARTNER | 75% or more | Domestic Entity |
| HILL CITY GP LLC Control | GENERAL PARTNER | Less than 5% | Domestic Entity |
| NORTH CHUTE TRUST Control | MEMBER | 25–50% | Domestic Entity |
| Richards, Michael, Tate Control | CHIEF COMPLIANCE OFFICER/ CHIEF FINANCIAL OFFICER | Less than 5% | Individual |
| Richards, Michael, Tate Control | TRUSTEE | General partner | Individual |
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- MASTEC INC$203.3M +29.3%
- FIRST SOLAR INC$190.6M +44.4%
- DYCOM INDS INC$168.4M +49.2%
- STMICROELECTRONICS N V$152.7M +192.2%
- INTERNATIONAL PAPER CO$44.4M +29.6%
New Positions
- DPC HOLDINGS PLC$377.4M
- LITTELFUSE INC$54.6M
- BORGWARNER INC$53.3M
- GARRETT MOTION INC$18.1M
- EROCK INC$1.6M
Hill City Capital, LP Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | MASTEC INC | MTZ | 576323109 | $896.6M | 20.94% | 2,155,000 | SH |
| 2 | FIRST SOLAR INC | FSLR | 336433107 | $620.1M | 14.48% | 2,628,130 | SH |
| 3 | DYCOM INDS INC | DY | 267475101 | $510.5M | 11.92% | 1,009,784 | SH |
| 4 | DPC HOLDINGS PLC | DPC | G2R11M108 | $377.4M | 8.81% | 7,693,605 | SH |
| 5 | STMICROELECTRONICS N V | STM | 861012102 | $232.2M | 5.42% | 3,100,000 | SH |
| 6 | INTERNATIONAL PAPER CO | IP | 460146103 | $194.3M | 4.54% | 5,100,000 | SH |
| 7 | GRANITE CONSTR INC | GVA | 387328107 | $175.5M | 4.10% | 1,110,248 | SH |
| 8 | JAMES HARDIE INDS PLC | JHX | G4253H101 | $149.9M | 3.50% | 5,723,900 | SH |
| 9 | BOEING CO | BA | 097023105 | $134.6M | 3.14% | 621,583 | SH |
| 10 | CEMEX SA EURO MTN BE 144A | CX | 151290889 | $129.6M | 3.03% | 10,802,750 | SH |
| 11 | CENTURI HOLDINGS INC | CTRI | 155923105 | $121.9M | 2.85% | 4,030,000 | SH |
| 12 | CRH PLC | CRH | G25508105 | $118.4M | 2.76% | 1,106,400 | SH |
| 13 | ARRAY TECHNOLOGIES INC | ARRY | 04271T100 | $95.5M | 2.23% | 12,891,300 | SH |
| 14 | ADVANCED DRAIN SYS INC DEL | WMS | 00790R104 | $75.3M | 1.76% | 480,000 | SH |
| 15 | ATKORE INC | ATKR | 047649108 | $55.1M | 1.29% | 724,106 | SH |
| 16 | LITTELFUSE INC | LFUS | 537008104 | $54.6M | 1.28% | 120,000 | SH |
| 17 | BORGWARNER INC | BWA | 099724106 | $53.3M | 1.24% | 802,170 | SH |
| 18 | CORE & MAIN INC | CNM | 21874C102 | $49.6M | 1.16% | 1,028,650 | SH |
| 19 | ATS CORPORATION | ATS | 00217Y104 | $47.5M | 1.11% | 1,649,857 | SH |
| 20 | WOLFSPEED INC | WOLF | 97785W106 | $45.1M | 1.05% | 935,000 | SH |
| 21 | ENERSYS | ENS | 29275Y102 | $44.4M | 1.04% | 190,000 | SH |
| 22 | TREX INC | TREX | 89531P105 | $27.5M | 0.64% | 550,000 | SH |
| 23 | WATERBRIDGE INFRASTRUCTURE L | WBI | 940923105 | $24.0M | 0.56% | 700,000 | SH |
| 24 | TFI INTERNATIONAL INC | TFII | 87241L109 | $20.8M | 0.49% | 145,000 | SH |
| 25 | GARRETT MOTION INC | GTX | 366505105 | $18.1M | 0.42% | 500,000 | SH |
| 26 | SOLV ENERGY INC | MWH | 78475V103 | $8.5M | 0.20% | 250,000 | SH |
| 27 | EROCK INC | EROC | 296013105 | $1.6M | 0.04% | 110,000 | SH |
| 28 | SITEONE LANDSCAPE SUPPLY INC | SITE | 82982L103 | $331.8K | 0.01% | 2,900 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-17 | $4.28B | 28 | 0001837343-26-000007 |
| 2026-06-30 | 2026-08-13 | $3.91B | 28 | 0001837343-26-000006 |
| 2026-03-31 | 2026-05-15 | $2.80B | 23 | 0001837343-26-000004 |
| 2025-12-31 | 2026-02-13 | $2.65B | 23 | 0001837343-26-000002 |
| 2025-09-30 | 2025-11-13 | $2.36B | 22 | 0001837343-25-000009 |
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