Hill City Capital, LP 13F: Quarter-over-Quarter Portfolio Changes
Hill City Capital, LP reported a disclosed portfolio value of approximately $2.8 billion in its latest SEC Form 13F-HR filing for Q1 2026, up 5.7% quarter on quarter. Over the quarter, the fund initiated 4 new positions, bought more shares in 7 holdings, trimmed 2 holdings, and exited 4 positions.
Hill City Capital, LP's top buy was a new stake in Stmicroelectronics N V (STM) , equal to 2.8% of the disclosed portfolio. Its top sell was 3m Company (MMM) . The fund exited the position completely after it had accounted for 2.2% of the previous portfolio.
New PositionsQ1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| STMICROELECTRONICS N V | STM | 2.8% | Holders → |
| EQUIPMENTSHARE COM INC | EQPT | 0.5% | Holders → |
| WOLFSPEED INC | WOLF | 0.5% | Holders → |
| SOLV ENERGY INC | MWH | 0.3% | Holders → |
Top BuysQ1 2026
The fund's top buys among existing positions in Q1 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| WMS | WMS | +0.9% | +131.2% | Holders → |
| INTERNATIONAL PAPER CO | IP | +1.7% | +72.8% | History → |
| JAMES HARDIE INDS PLC | JHX | +-0.2% | +9.8% | History → |
| CORE & MAIN INC | CNM | +-0.0% | +8.9% | Holders → |
| BOEING CO | BA | +-0.3% | +6.4% | History → |
| FIRST SOLAR INC | FSLR | +-5.3% | +4.2% | History → |
| CRH PLC | CRH | +-0.9% | +2.9% | History → |
Top SellsQ1 2026
The fund's top sells among positions it retained in Q1 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
Full ExitsQ1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| 3M COMPANY | MMM | 2.2% |
| BUILDERS FIRSTSOURCE INC | BLDR | 0.9% |
| SITEONE LANDSCAPE SUPPLY INC | SITE | 0.5% |
| SABRE CORP | SABR | 0.2% |
Net Portfolio Value ChangeQ1 2026
- $2.6BPrior quarter
- $2.8BCurrent quarter
- +$0.1BNet delta
- +5.7%% change
Methodology & FAQ
How Hill City Capital, LP Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for Hill City Capital, LP: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description — including how confidential treatment filings are handled — is documented in the Methodology.
What stocks did Hill City Capital, LP buy in Q1 2026?
In Q1 2026, Hill City Capital, LP initiated 4 new positions (STMICROELECTRONICS N V (STM), EQUIPMENTSHARE COM INC (EQPT), WOLFSPEED INC (WOLF), SOLV ENERGY INC (MWH)); bought more shares of WMS (WMS), INTERNATIONAL PAPER CO (IP), JAMES HARDIE INDS PLC (JHX), CORE & MAIN INC (CNM), BOEING CO (BA) — the largest 5 of 7 adds.
What stocks did Hill City Capital, LP sell in Q1 2026?
In Q1 2026, Hill City Capital, LP fully sold 4 positions (3M COMPANY (MMM), BUILDERS FIRSTSOURCE INC (BLDR), SITEONE LANDSCAPE SUPPLY INC (SITE), SABRE CORP (SABR)); reduced holdings in ENERSYS (ENS), TREX INC (TREX).
Which positions did Hill City Capital, LP initiate in Q1 2026?
Hill City Capital, LP established 4 new positions in Q1 2026: STMICROELECTRONICS N V (STM, 2.8%), EQUIPMENTSHARE COM INC (EQPT, 0.5%), WOLFSPEED INC (WOLF, 0.5%), SOLV ENERGY INC (MWH, 0.3%).
Which existing positions saw the largest allocation increases for Hill City Capital, LP in Q1 2026?
Of 7 existing positions with share-count increases in Q1 2026, the largest were: WMS (WMS, +0.9% weight, +131.2% shares), INTERNATIONAL PAPER CO (IP, +1.7% weight, +72.8% shares), JAMES HARDIE INDS PLC (JHX, +-0.2% weight, +9.8% shares), CORE & MAIN INC (CNM, +-0.0% weight, +8.9% shares), BOEING CO (BA, +-0.3% weight, +6.4% shares), FIRST SOLAR INC (FSLR, +-5.3% weight, +4.2% shares), CRH PLC (CRH, +-0.9% weight, +2.9% shares).
Which positions did Hill City Capital, LP fully exit in Q1 2026?
Hill City Capital, LP fully exited 4 positions in Q1 2026: 3M COMPANY (MMM, last-reported weight 2.2%), BUILDERS FIRSTSOURCE INC (BLDR, last-reported weight 0.9%), SITEONE LANDSCAPE SUPPLY INC (SITE, last-reported weight 0.5%), SABRE CORP (SABR, last-reported weight 0.2%).
Which existing positions saw the largest allocation reductions for Hill City Capital, LP in Q1 2026?
Of 2 existing positions with share-count reductions in Q1 2026, the largest were: ENERSYS (ENS, -1.4% weight, -59.4% shares), TREX INC (TREX, -0.0% weight, -0.4% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.