Impala Asset Management LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 21, 2025), Impala Asset Management LLC reported 19 stock positions worth $130.2 million. Its top holding was Ero Copper (ERO) at 15.5% of the portfolio, followed by Century Aluminum (CENX, 13.3%) and Buckle (BKE, 12.7%). Compared with Q4 2024, it opened 10 new positions, sold out of 5, added to 4 and reduced 5. The biggest buy was a new position in Teck Resources Ltd.-CLS B (TECK) and the biggest sale an exit from Arcbest (ARCB).
- Most Recent 13F
- Q2 2026
- Location
- Palm Beach, FL
- CIK
- 0001317679
- Portfolio Value
- $130.2M (Q1 2025)
- SEC Filing
- 0001104659-25-051544 ↗ filed May 21, 2025
Holdings Value
Holdings 19 stocks · $130.2M
| ERO Ero Copper Corp. | 15.50% | 1,649,901 | $20.2M | Reduce -5.1% |
| CENX Century Aluminum Company | 13.29% | 932,154 | $17.3M | Add +33.6% |
| BKE The Buckle Inc. | 12.73% | 432,080 | $16.6M | Add +37.1% |
| TECK Teck Resources Ltd.-CLS B | 12.14% | 434,000 | $15.8M | New |
| ASO Academy Sports & Outdoors Inc. | 10.69% | 305,151 | $13.9M | Reduce -15.2% |
| WFG West Fraser Timber Co. Ltd. | 6.72% | 113,900 | $8.7M | Reduce -11.9% |
| ANF Abercrombie & Fitch Co. Class A | 6.68% | 113,883 | $8.7M | Add +234.9% |
| TROX Tronox Holdings PLC | 4.92% | 910,000 | $6.4M | New |
| HUN Huntsman Corp. | 4.19% | 321,782 | $5.4M | New |
| NGD New Gold Inc. | 2.85% | 1,000,000 | $3.7M | Add +47.1% |
| NEU Newmarket Corp. | 2.41% | 65,000 | $3.1M | New |
| COP Conocophillips | 2.02% | 25,000 | $2.6M | Reduce -14.3% |
| TNA Dir Dai SML Ca Bul 3X Et-Usd | 1.53% | 68,200 | $2.0M | New |
| SBLK Star Bulk Carriers Corp. | 1.37% | 115,000 | $1.8M | New |
| MTN Vail Resorts Inc. | 0.86% | 7,000 | $1.1M | New |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.80% | 25,000 | $1.0M | Reduce -85.3% |
| FXI iShares China Large-Cap ETF | 0.55% | 20,000 | $717K | New |
| ARCELORMITTAL SA | 0.41% | 18,679 | $539K | New |
| TRONOX HOLDINGS PLC | 0.32% | 60,000 | $422K | New |
Portfolio Sells Q4 2024 → Q1 2025
| ARCB Arcbest Corp. | Sold out | 0.00% | −8.07 |
| ASO Academy Sports & Outdoors Inc. | Reduce -15.2% | 10.69% | −6.06 |
| AA Alcoa Corp. | Sold out | 0.00% | −5.43 |
| SLB SLB Ltd. | Reduce -85.3% | 0.80% | −4.47 |
| ERO Ero Copper Corp. | Reduce -5.1% | 15.50% | −3.45 |
| KWR Quaker Chemical Corporation | Sold out | 0.00% | −2.62 |
| LBRT Liberty Energy Inc. | Sold out | 0.00% | −2.36 |
| WFG West Fraser Timber Co. Ltd. | Reduce -11.9% | 6.72% | −2.33 |
| DNN Denison Mines Corp. | Sold out | 0.00% | −0.45 |
| COP Conocophillips | Reduce -14.3% | 2.02% | −0.32 |
Portfolio Buys Q4 2024 → Q1 2025
| TECK Teck Resources Ltd.-CLS B | New | 12.14% | +12.14 |
| TROX Tronox Holdings PLC | New | 4.92% | +4.92 |
| HUN Huntsman Corp. | New | 4.19% | +4.19 |
| CENX Century Aluminum Company | Add +33.6% | 13.29% | +3.01 |
| ANF Abercrombie & Fitch Co. Class A | Add +234.9% | 6.68% | +2.57 |
| NEU Newmarket Corp. | New | 2.41% | +2.41 |
| TNA Dir Dai SML Ca Bul 3X Et-Usd | New | 1.53% | +1.53 |
| NGD New Gold Inc. | Add +47.1% | 2.85% | +1.49 |
| SBLK Star Bulk Carriers Corp. | New | 1.37% | +1.37 |
| MTN Vail Resorts Inc. | New | 0.86% | +0.86 |
| FXI iShares China Large-Cap ETF | New | 0.55% | +0.55 |
| ARCELORMITTAL SA | New | 0.41% | +0.41 |
| TRONOX HOLDINGS PLC | New | 0.32% | +0.32 |
| BKE The Buckle Inc. | Add +37.1% | 12.73% | −0.22 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 20 | $176.4M | CENX, ERO, BKE, DOW, TROX |
| Q1 2026 | 26 | $214.6M | CENX, ERO, BKE, TRONOX HOLDINGS PLC, EMN |
| Q4 2025 | 23 | $158.7M | CENX, ERO, BKE, HUN, WHR |
| Q3 2025Amended | 20 | $161.1M | ERO, CENX, ASO, HUN, BKE |
| Q2 2025Amended | 23 | $158.0M | ERO, ASO, BKE, CENX, HUN |
| Q1 2025Amended | 19 | $130.2M | ERO, CENX, BKE, TECK, ASO |
| Q4 2024 | 14 | $123.7M | ERO, ASO, BKE, CENX, WFG |
| Q3 2024 | 16 | $164.5M | ERO, BKE, WFG, CENX, GUSH |
| Q2 2024 | 15 | $110.6M | ERO, CENX, WFG, BKE, GUSH |
| Q1 2024 | 18 | $110.9M | ERO, CENX, BKE, GUSH, DAL |