Array Technologies (ARRY): Hill City Capital group discloses 8.4% ownership position

Rhea-AI Filing Summary

Array Technologies, Inc. has a significant shareholder group led by Hill City Capital Master Fund LP and affiliated entities, including Hill City Capital GP LLC, Hill City Capital LP, Hill City GP LLC, and Herbert Frazier. Together, these reporting persons report beneficial ownership of 12,891,300 shares of Array Technologies common stock.

This stake represents 8.4% of the outstanding common stock, based on 154,007,692 shares outstanding as of July 31, 2026. The group reports shared voting and dispositive power over all 12,891,300 shares and no sole voting or dispositive power. The filing is made jointly pursuant to an agreement among the reporting persons.

Key Figures

Shares beneficially owned: 12,891,300 shares Ownership percentage: 8.4% Shares outstanding: 154,007,692 shares +2 more

5 metrics

Shares beneficially owned 12,891,300 shares Beneficial ownership reported jointly by the Hill City Capital group

Ownership percentage 8.4% Percent of Array Technologies common stock beneficially owned by reporting persons

Shares outstanding 154,007,692 shares Array Technologies common stock outstanding as of July 31, 2026

Shared voting power 12,891,300 shares Shares over which the reporting persons have shared power to vote

Shared dispositive power 12,891,300 shares Shares over which the reporting persons have shared power to dispose

Key Terms

beneficially owned, shared voting power, shared dispositive power, exempted limited partnership, +1 more

5 terms

beneficially owned financial

"Item 4. | Ownership (a) | Amount beneficially owned: See Item 9 of each cover page."

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared voting power financial

"6 | Shared Voting Power 12,891,300.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"8 | Shared Dispositive Power 12,891,300.00"

exempted limited partnership financial

"The Fund is a Cayman Islands exempted limited partnership;"

principal executive offices financial

"(b) | Address of issuer's principal executive offices:"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

How much of Array Technologies (ARRY) stock does Hill City Capital beneficially own?

Hill City Capital and affiliated reporting persons beneficially own 12,891,300 shares of Array Technologies common stock, representing 8.4% of the company’s outstanding shares, based on 154,007,692 shares outstanding as of July 31, 2026.

What percentage of Array Technologies (ARRY) is held by the Hill City Capital group?

The Hill City Capital group reports beneficial ownership of 8.4% of Array Technologies’ common stock, calculated using 154,007,692 shares outstanding as of July 31, 2026, as disclosed in the issuer’s Form 10-Q.

Who are the reporting persons in this Array Technologies (ARRY) Schedule 13G/A?

The reporting persons are Hill City Capital Master Fund LP, Hill City Capital GP LLC, Hill City Capital LP, Hill City GP LLC, and Herbert Frazier, who serves as managing member of the general partners and investment manager involved with the Fund.

Do the Hill City Capital reporting persons have sole or shared voting power over ARRY shares?

The reporting persons disclose 0 shares with sole voting power and 12,891,300 shares with shared voting power. They also report 0 shares with sole dispositive power and 12,891,300 shares with shared dispositive power over Array Technologies common stock.

What share count did Array Technologies (ARRY) report outstanding for this ownership calculation?

The ownership percentages are based on 154,007,692 shares of Array Technologies common stock outstanding as of July 31, 2026, as reported in the company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026.

Where are the Hill City Capital entities related to Array Technologies (ARRY) based?

The Fund is a Cayman Islands exempted limited partnership with a principal address in Grand Cayman. The related general partners and investment manager are Delaware entities with a principal business address in Boston, Massachusetts.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

Array Technologies, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

04271T100

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 04271T100

1

Names of Reporting Persons

Hill City Capital Master Fund LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 12,891,300.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,891,300.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,891,300.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.4 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 04271T100

1

Names of Reporting Persons

Hill City Capital GP LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 12,891,300.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,891,300.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,891,300.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.4 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 04271T100

1

Names of Reporting Persons

Hill City Capital LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 12,891,300.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,891,300.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,891,300.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.4 %

12

Type of Reporting Person (See Instructions)

PN, IA

SCHEDULE 13G

CUSIP Number(s): 04271T100

1

Names of Reporting Persons

Hill City GP LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 12,891,300.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,891,300.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,891,300.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.4 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 04271T100

1

Names of Reporting Persons

Herbert Frazier

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 12,891,300.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,891,300.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,891,300.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.4 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Array Technologies, Inc.
(b)	Address of issuer's principal executive offices: 3901 Midway Place NE, Albuquerque, New Mexico 87109
Item 2.
(a)	Name of person filing: This Schedule 13G is being filed by Hill City Capital Master Fund LP (the "Fund"); Hill City Capital GP LLC (the "General Partner"), which serves as the general partner of the Fund; Hill City Capital LP (the "Investment Manager"), which serves as investment manager of the Fund; Hill City GP LLC (the "Investment Manager GP"), which serves as the general partner of the Investment Manager; and Herbert Frazier, who serves as managing member of the General Partner and the Investment Manager GP (each of whom may be referred to herein as a "Reporting Person" and collectively as the "Reporting Persons"). The Reporting Persons are making this single, joint filing, and the agreement among the Reporting Persons to file jointly is attached hereto as Exhibit 1.
(b)	Address or principal business office or, if none, residence: The principal business address of the Fund is c/o Ogier Global (Cayman) Limited, 89 Nexus Way, Camana Bay, Grand Cayman KY1-9009. The principal business address of the General Partner, the Investment Manager, the Investment Manager GP and Mr. Frazier is 121 High St, 3rd Floor, Boston, Massachusetts 02110.
(c)	Citizenship: The Fund is a Cayman Islands exempted limited partnership; each of the General Partner and the Investment Manager GP is a Delaware limited liability company; the Investment Manager is a Delaware limited partnership; and Mr. Frazier is a citizen of the United States.
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 04271T100
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See Item 9 of each cover page.
(b)	Percent of class: See Item 11 of each cover page, which is based on 154,007,692 shares of Common Stock outstanding as of July 31, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026 and filed with the Securities and Exchange Commission on August 5, 2026.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 of each cover page.
	(ii) Shared power to vote or to direct the vote: See Item 6 of each cover page.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 of each cover page.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 of each cover page.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Hill City Capital Master Fund LP

Signature:	/s/ Herbert Frazier
Name/Title:	Herbert Frazier/Managing Member of Hill City Capital GP LLC, its General Partner
Date:	08/10/2026

Hill City Capital GP LLC

Signature:	/s/ Herbert Frazier
Name/Title:	Herbert Frazier/Managing Member
Date:	08/10/2026

Hill City Capital LP

Signature:	/s/ Herbert Frazier
Name/Title:	Herbert Frazier/Managing Member of Hill City GP LLC, its General Partner
Date:	08/10/2026

Hill City GP LLC

Signature:	/s/ Herbert Frazier
Name/Title:	Herbert Frazier/Managing Member
Date:	08/10/2026

Herbert Frazier

Signature:	/s/ Herbert Frazier
Name/Title:	Herbert Frazier
Date:	08/10/2026