Hill City Capital group (DPC) discloses 7.7M-share, 5.1% position in DPC

Rhea-AI Filing Summary

DPC Holdings PLC is reported as having a significant shareholder group led by Hill City Capital Master Fund LP and related entities. These reporting persons collectively beneficially own 7,693,605 ordinary shares, representing 5.1% of the outstanding ordinary shares of DPC Holdings PLC.

The group reports shared voting and dispositive power over all 7,693,605 shares and no sole voting or dispositive power. The ownership percentage is based on 149,393,016 ordinary shares outstanding as of July 28, 2026, as referenced from the issuer’s quarterly report.

Key Figures

Shares beneficially owned: 7,693,605 ordinary shares Ownership percentage: 5.1% Shares outstanding: 149,393,016 ordinary shares +2 more

5 metrics

Shares beneficially owned 7,693,605 ordinary shares Beneficially owned collectively by the Hill City Capital reporting group

Ownership percentage 5.1% Percentage of DPC Holdings PLC ordinary shares beneficially owned by the reporting persons

Shares outstanding 149,393,016 ordinary shares Shares outstanding as of July 28, 2026, per issuer’s quarterly report

Shared voting power 7,693,605 shares Number of shares over which the group has shared voting power

Shared dispositive power 7,693,605 shares Number of shares over which the group has shared dispositive power

Key Terms

beneficially owned, shared voting power, shared dispositive power, Schedule 13G, +1 more

5 terms

beneficially owned financial

"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

"Shared Voting Power 7,693,605.00"

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

"Shared Dispositive Power 7,693,605.00"

Schedule 13G regulatory

"Percent of class: See Item 11 of each cover page, Schedule 13G context."

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

CUSIP Number financial

"CUSIP Number(s): G2R11M108"

A CUSIP number is a nine-character code that uniquely identifies a specific U.S. or Canadian stock, bond, or other security, similar to a barcode or a social-security number for a financial instrument. It matters to investors because it removes confusion between similar securities, ensures trades and settlements are applied to the correct issue, and helps locate official documents and transaction records quickly.

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

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FAQ

What percentage of DPC (DPC Holdings PLC) does Hill City Capital beneficially own?

Hill City Capital and related reporting persons beneficially own 5.1% of DPC Holdings PLC’s ordinary shares, representing 7,693,605 shares, based on 149,393,016 shares outstanding as of July 28, 2026.

How many DPC Holdings PLC ordinary shares are held by the Hill City Capital group?

The Hill City Capital reporting group beneficially owns 7,693,605 ordinary shares of DPC Holdings PLC, with shared voting and dispositive power over all of these shares and no sole voting or dispositive power.

Who are the reporting persons on this Schedule 13G for DPC?

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 is managing member of the general partner entities listed.

What is the basis for the 5.1% ownership calculation in DPC?

The 5.1% ownership is calculated using 149,393,016 ordinary shares of DPC Holdings PLC outstanding as of July 28, 2026, as referenced from the issuer’s quarterly report for the period ended June 28, 2026.

Do the Hill City Capital entities have sole or shared voting power over DPC shares?

The Hill City Capital reporting group reports 0 shares with sole voting power and 7,693,605 shares with shared voting power, and the same 7,693,605 shares with shared dispositive power and no sole dispositive power.

What class of DPC securities is covered by this Schedule 13G?

The Schedule 13G relates to Ordinary Shares of DPC Holdings PLC, identified by CUSIP G2R11M108, with the reported 5.1% ownership referring specifically to this class of securities.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

DPC Holdings PLC

(Name of Issuer)

Ordinary Shares

(Title of Class of Securities)

G2R11M108

(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): G2R11M108

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 7,693,605.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,693,605.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,693,605.00

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)

5.1 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): G2R11M108

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 7,693,605.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,693,605.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,693,605.00

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)

5.1 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): G2R11M108

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 7,693,605.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,693,605.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,693,605.00

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)

5.1 %

12

Type of Reporting Person (See Instructions)

PN, IA

SCHEDULE 13G

CUSIP Number(s): G2R11M108

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 7,693,605.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,693,605.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,693,605.00

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)

5.1 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): G2R11M108

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 7,693,605.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,693,605.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,693,605.00

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)

5.1 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: DPC Holdings PLC
(b)	Address of issuer's principal executive offices: DONINGTON COURT, 2ND FLOOR, PEGASUS BUSINESS PARK, HERALD WAY, DERBY, United Kingdom, DE742UZ
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: Ordinary Shares
(e)	CUSIP Number(s): G2R11M108
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 149,393,016 ordinary shares outstanding as of July 28, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended June 28, 2026 and filed with the Securities and Exchange Commission on August 11, 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:
	Not Applicable

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:	08/11/2026

Hill City Capital GP LLC

Signature:	/s/ Herbert Frazier
Name/Title:	Herbert Frazier/Managing Member
Date:	08/11/2026

Hill City Capital LP

Signature:	/s/ Herbert Frazier
Name/Title:	Herbert Frazier/Managing Member of Hill City GP LLC, its General Partner
Date:	08/11/2026

Hill City GP LLC

Signature:	/s/ Herbert Frazier
Name/Title:	Herbert Frazier/Managing Member
Date:	08/11/2026

Herbert Frazier

Signature:	/s/ Herbert Frazier
Name/Title:	Herbert Frazier
Date:	08/11/2026