Impala Asset Management LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 27, 2025), Impala Asset Management LLC reported 23 stock positions worth $158.0 million. Its top holding was Ero Copper (ERO) at 18.0% of the portfolio, followed by Academy Sports & Outdoors (ASO, 13.7%) and Buckle (BKE, 10.2%). Compared with Q1 2025, it opened 9 new positions, sold out of 5, added to 7 and reduced 7. The biggest buy was Huntsman (HUN, shares +259%) and the biggest sale an exit from West Fraser Timber (WFG).
- Most Recent 13F
- Q2 2026
- Location
- Palm Beach, FL
- CIK
- 0001317679
- Portfolio Value
- $158.0M (Q2 2025)
- SEC Filing
- 0001104659-25-083914 ↗ filed Aug 27, 2025
Holdings Value
Holdings 23 stocks · $158.0M
| ERO Ero Copper Corp. | 18.04% | 1,699,100 | $28.5M | Add +3.0% |
| ASO Academy Sports & Outdoors Inc. | 13.68% | 481,924 | $21.6M | Add +57.9% |
| BKE The Buckle Inc. | 10.25% | 357,038 | $16.2M | Reduce -17.4% |
| CENX Century Aluminum Company | 9.17% | 803,894 | $14.5M | Reduce -13.8% |
| HUN Huntsman Corp. | 8.00% | 1,155,200 | $12.6M | Add +259.0% |
| TECK Teck Resources Ltd.-CLS B | 7.35% | 287,382 | $11.6M | Reduce -33.8% |
| ANF Abercrombie & Fitch Co. Class A | 5.19% | 99,000 | $8.2M | Reduce -13.1% |
| TROX Tronox Holdings PLC | 3.74% | 1,165,000 | $5.9M | Add +28.0% |
| ARCELORMITTAL SA | 3.72% | 185,558 | $5.9M | Add +893.4% |
| ARCB Arcbest Corp. | 3.46% | 71,000 | $5.5M | New |
| NGD New Gold Inc. | 2.95% | 940,000 | $4.7M | Reduce -6.0% |
| UPS United Parcel Service Class B | 2.11% | 33,000 | $3.3M | New |
| TRONOX HOLDINGS PLC | 2.09% | 651,300 | $3.3M | Add +985.5% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 1.93% | 90,042 | $3.0M | Add +260.2% |
| VIK Viking Holdings Ltd. | 1.52% | 45,000 | $2.4M | New |
| COP Conocophillips | 1.28% | 22,500 | $2.0M | Reduce -10.0% |
| NTDOY Nintendo Co. Ltd.-Unspons ADR | 1.09% | 71,600 | $1.7M | New |
| AMR Alpha Metallurgical Resource | 1.00% | 14,000 | $1.6M | New |
| CVX Chevron Corp. | 0.91% | 10,000 | $1.4M | New |
| NEU Newmarket Corp. | 0.74% | 20,000 | $1.2M | Reduce -69.2% |
| IVANHOE MINES LTD COM CL A | 0.71% | 150,000 | $1.1M | New |
| EWZ iShares MSCI Brazil ETF | 0.62% | 34,000 | $981K | New |
| HBM Hudbay Minerals Inc. | 0.48% | 71,800 | $762K | New |
Portfolio Sells Q1 2025 → Q2 2025
| WFG West Fraser Timber Co. Ltd. | Sold out | 0.00% | −6.72 |
| TECK Teck Resources Ltd.-CLS B | Reduce -33.8% | 7.35% | −4.80 |
| CENX Century Aluminum Company | Reduce -13.8% | 9.17% | −4.12 |
| BKE The Buckle Inc. | Reduce -17.4% | 10.25% | −2.48 |
| NEU Newmarket Corp. | Reduce -69.2% | 0.74% | −1.67 |
| TNA Dir Dai SML Ca Bul 3X Et-Usd | Sold out | 0.00% | −1.53 |
| ANF Abercrombie & Fitch Co. Class A | Reduce -13.1% | 5.19% | −1.49 |
| SBLK Star Bulk Carriers Corp. | Sold out | 0.00% | −1.37 |
| MTN Vail Resorts Inc. | Sold out | 0.00% | −0.86 |
| COP Conocophillips | Reduce -10.0% | 1.28% | −0.74 |
| FXI iShares China Large-Cap ETF | Sold out | 0.00% | −0.55 |
| NGD New Gold Inc. | Reduce -6.0% | 2.95% | +0.10 |
Portfolio Buys Q1 2025 → Q2 2025
| HUN Huntsman Corp. | Add +259.0% | 8.00% | +3.81 |
| ARCB Arcbest Corp. | New | 3.46% | +3.46 |
| ARCELORMITTAL SA | Add +893.4% | 3.72% | +3.30 |
| ASO Academy Sports & Outdoors Inc. | Add +57.9% | 13.68% | +2.99 |
| ERO Ero Copper Corp. | Add +3.0% | 18.04% | +2.53 |
| UPS United Parcel Service Class B | New | 2.11% | +2.11 |
| TRONOX HOLDINGS PLC | Add +985.5% | 2.09% | +1.77 |
| VIK Viking Holdings Ltd. | New | 1.52% | +1.52 |
| SLB SLB Ltd. | Add +260.2% | 1.93% | +1.12 |
| NTDOY Nintendo Co. Ltd.-Unspons ADR | New | 1.09% | +1.09 |
| AMR Alpha Metallurgical Resource | New | 1.00% | +1.00 |
| CVX Chevron Corp. | New | 0.91% | +0.91 |
| IVANHOE MINES LTD COM CL A | New | 0.71% | +0.71 |
| EWZ iShares MSCI Brazil ETF | New | 0.62% | +0.62 |
| HBM Hudbay Minerals Inc. | New | 0.48% | +0.48 |
| TROX Tronox Holdings PLC | Add +28.0% | 3.74% | −1.18 |
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 |