Meixler Investment Management, Ltd.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 5, 2025), Meixler Investment Management, Ltd. reported 95 stock positions worth $145.2 million. Its top holding was Sprott Physical Gold Trust (PHYS) at 11.0% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 9.2%) and Dorchester Minerals (DMLP, 7.9%). Compared with Q1 2025, it opened 6 new positions, sold out of 12, added to 28 and reduced 61. The biggest buy was Natural Resource Partners (NRP, shares +37%) and the biggest sale Berkshire Hathaway Class B (BRK.B, shares −3%).
- Most Recent 13F
- Q2 2026
- Location
- SHOW LOW, AZ
- CIK
- 0001911615
- Portfolio Value
- $145.2M (Q2 2025)
- SEC Filing
- 0001085146-25-004503 ↗ filed Aug 5, 2025
Holdings Value
Holdings 95 stocks · $145.2M
| PHYS Sprott Physical Gold Trust | 11.04% | 631,977 | $16.0M | Reduce -3.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 9.20% | 27,486 | $13.4M | Reduce -2.8% |
| DMLP Dorchester Minerals LP | 7.93% | 413,323 | $11.5M | Reduce -0.1% |
| SU Suncor Energy Inc. | 6.91% | 267,722 | $10.0M | Reduce -1.4% |
| NRP Natural Resource Partners LP | 4.44% | 67,502 | $6.4M | Add +36.6% |
| CNQ Canadian Natural Resources | 3.78% | 174,715 | $5.5M | Reduce -0.2% |
| TYG Tortoise Energy Infrastruct | 2.87% | 94,925 | $4.2M | Reduce -8.5% |
| FNV Franco-Nevada Corp. | 2.51% | 22,233 | $3.6M | Reduce -11.3% |
| EXP Eagle Materials Inc. | 2.50% | 17,923 | $3.6M | Add +30.6% |
| HON Honeywell International Inc. | 2.36% | 14,736 | $3.4M | Add +14.6% |
| EPD Enterprise Products Partners | 2.34% | 109,475 | $3.4M | Add +21.7% |
| LMT Lockheed Martin Corp. | 2.02% | 6,316 | $2.9M | Reduce -2.9% |
| SKYH SKY Harbour Group Corp. | 1.78% | 263,995 | $2.6M | Add +19.7% |
| OKE Oneok Inc. | 1.74% | 30,937 | $2.5M | Add +134.0% |
| LEGH Legacy Housing Corp. | 1.70% | 108,616 | $2.5M | Add +8.1% |
| WPC WP Carey Inc. | 1.61% | 37,506 | $2.3M | Add +11.2% |
| OUNZ Vaneck Merk Gold ETF | 1.49% | 67,977 | $2.2M | Add +24.1% |
| VAL Valaris Ltd. | 1.38% | 47,709 | $2.0M | Reduce -15.0% |
| FRPH FRP Holdings Inc. filed as FRP HLDGS INC | 1.34% | 72,598 | $2.0M | Add +17.6% |
| OR Or Royalties Inc. | 1.28% | 72,459 | $1.9M | Reduce -6.9% |
| LOW Lowe's Cos Inc. | 1.24% | 8,145 | $1.8M | Reduce -7.6% |
| SAND Sandstorm Gold Ltd. | 1.21% | 186,925 | $1.8M | Reduce -7.0% |
| BOC Boston Omaha Corp. Class A | 1.12% | 116,265 | $1.6M | Reduce -2.6% |
| ENB Enbridge Inc. | 1.12% | 35,872 | $1.6M | Add +8.3% |
| LECO Lincoln Electric Holdings | 0.93% | 6,509 | $1.3M | Add +461.1% |
| HD Home Depot Inc. | 0.86% | 3,395 | $1.2M | Reduce -1.1% |
| XAR SS SPDR S&P Aerospace Def | 0.82% | 5,630 | $1.2M | Reduce -13.7% |
| LAMR Lamar Advertising Co. Class A | 0.81% | 9,650 | $1.2M | Add +47.0% |
| JOE The St Joe Co. | 0.80% | 24,239 | $1.2M | Reduce -13.1% |
| PKST Peakstone Realty Trust | 0.78% | 86,053 | $1.1M | Add +0.1% |
| IMO Imperial Oil Ltd. | 0.78% | 14,229 | $1.1M | Reduce -12.4% |
| CAAP Corp. America Airports SA filed as CORPORACION AMER ARPTS S A | 0.76% | 54,362 | $1.1M | Add +2.6% |
| TRMB Trimble Inc. | 0.73% | 14,025 | $1.1M | Reduce -19.8% |
| AEM Agnico Eagle Mines Ltd. | 0.71% | 8,647 | $1.0M | Reduce -6.8% |
| PLYM Plymouth Industrial REIT Inc. | 0.70% | 62,901 | $1.0M | Add +2.4% |
| AIG American International Group | 0.55% | 9,290 | $795K | Reduce -4.4% |
| TPL Texas Pacific Land Corp. | 0.54% | 748 | $790K | Reduce -14.5% |
| GRID First TRST Nasd Class Edg Sgiif | 0.48% | 4,987 | $693K | Add +50.4% |
| VOXR Vox Royalty Corp. | 0.47% | 217,829 | $688K | Reduce -2.8% |
| SNX TD Synnex Corp. | 0.47% | 5,003 | $679K | Reduce -12.3% |
| SOBO South Bow Corp. | 0.47% | 26,190 | $679K | Reduce -5.0% |
| WCC Wesco International Inc. | 0.46% | 3,629 | $672K | Reduce -22.2% |
| NE Noble Corp. PLC | 0.46% | 25,260 | $671K | Reduce -5.4% |
| WPM Wheaton Precious Metals Corp. | 0.45% | 7,272 | $653K | Reduce -9.1% |
| TIPT Tiptree Inc. | 0.44% | 27,086 | $639K | Add +0.2% |
| OMAB Grupo Aeroportuario Cen-ADR | 0.43% | 5,861 | $618K | Reduce -23.1% |
| CRESY Cresud S.A.-Spons ADR | 0.40% | 53,647 | $577K | Add +9.0% |
| NEM Newmont Corp. | 0.38% | 9,409 | $548K | Add +35.4% |
| HCC Warrior Met Coal Inc. | 0.38% | 11,936 | $547K | Reduce -55.1% |
| TFPM Triple Flag Precious Met | 0.37% | 22,742 | $539K | Reduce -11.9% |
| GBTC Grayscale Bitcoin Trust ETF | 0.36% | 6,199 | $526K | Reduce -1.8% |
| QCOM Qualcomm Inc. | 0.36% | 3,290 | $524K | Reduce -6.1% |
| GOOGL Alphabet Inc. Class A | 0.36% | 2,933 | $517K | Reduce -20.6% |
| BRKR Bruker Corp. | 0.35% | 12,453 | $513K | Add +0.4% |
| MOS The Mosaic Co. | 0.34% | 13,495 | $492K | Reduce -17.7% |
| TRP TC Energy Corp. | 0.34% | 9,970 | $486K | Reduce -3.0% |
| MELI MercadoLibre Inc. | 0.33% | 184 | $481K | Reduce -0.5% |
| BG Bunge Global SA | 0.33% | 5,966 | $479K | Reduce -2.1% |
| SII Sprott Inc. | 0.32% | 6,721 | $464K | Add +0.2% |
| IBIT iShares Bitcoin Trust ETF | 0.32% | 7,505 | $459K | Reduce -0.6% |
| ARW Arrow Electronics Inc. | 0.29% | 3,314 | $422K | Reduce -12.8% |
| BTU Peabody Energy Corp. | 0.27% | 29,290 | $393K | Reduce -47.6% |
| SFM Sprouts Farmers Market Inc. | 0.26% | 2,304 | $379K | Reduce -4.9% |
| ATKR Atkore Inc. | 0.25% | 5,226 | $369K | Reduce -3.6% |
| ENVX Enovix Corp. | 0.24% | 33,974 | $351K | Reduce -4.4% |
| PSLV Sprott Physical Silver Trust | 0.24% | 28,240 | $346K | Add +3.4% |
| XOM Exxon Mobil Corp. | 0.23% | 3,060 | $330K | Reduce -5.7% |
| REXR Rexford Industrial Realty Inc. | 0.23% | 9,206 | $327K | Reduce -30.0% |
| SSNC Ss&c Technologies Holdings | 0.22% | 3,867 | $320K | Add +9.5% |
| ALEX Alexander & Baldwin Inc. | 0.21% | 17,431 | $311K | Reduce -2.4% |
| NTR Nutrien Ltd. | 0.21% | 5,142 | $299K | Reduce -12.2% |
| NPK National Presto Inds Inc. | 0.20% | 3,024 | $296K | New |
| HGTY Hagerty Inc. Class A | 0.20% | 29,295 | $296K | Add +0.7% |
| GE General Electric filed as GE AEROSPACE | 0.20% | 1,119 | $288K | Reduce -39.3% |
| VLTO Veralto Corp. | 0.20% | 2,817 | $284K | New |
| AAPL Apple Inc. | 0.19% | 1,347 | $276K | Reduce -1.7% |
| UMH Umh Properties Inc. filed as UMH PPTYS INC | 0.19% | 16,225 | $272K | Reduce -10.6% |
| GOOG Alphabet Inc. Class C | 0.18% | 1,506 | $267K | Reduce -11.2% |
| PSX Phillips 66 | 0.18% | 2,194 | $262K | New |
| GSHD Goosehead Insurance Inc. Class A | 0.18% | 2,421 | $255K | Add +29.5% |
| ARIS WATER SOLUTIONS INC-A | 0.18% | 10,793 | $255K | New |
| FERG Ferguson Enterprises Inc. | 0.16% | 1,097 | $239K | New |
| SHW The Sherwin-Williams Co. | 0.16% | 663 | $228K | Reduce -0.6% |
| OC Owens Corning | 0.15% | 1,616 | $222K | New |
| ALNT Allient Inc. | 0.15% | 6,048 | $220K | Reduce -41.7% |
| ZIG The Acquirers Fund ETF | 0.15% | 6,050 | $213K | Reduce -33.5% |
| IA Innovative Solutions & Supp | 0.15% | 15,275 | $212K | Add +31.4% |
| ALTG Alta Equipment Group Inc. | 0.14% | 33,317 | $211K | Reduce -4.2% |
| CVX Chevron Corp. | 0.14% | 1,434 | $205K | Reduce -6.9% |
| SJT San Juan Basin Royalty TR | 0.14% | 33,500 | $200K | Reduce -17.2% |
| MXC Mexco Energy Corp. | 0.12% | 19,277 | $171K | Reduce -7.9% |
| EMX Emx Royalty Corp. filed as EMX RTY CORP | 0.10% | 59,100 | $149K | Reduce -5.2% |
| CLF Cleveland-Cliffs Inc. | 0.09% | 17,390 | $132K | Add +4.4% |
| ILPT Industrial Logistics Propert | 0.05% | 16,600 | $76K | Reduce -2.9% |
| CVE Cenovus Energy Inc. | 0.02% | 2,282 | $31K | Reduce -51.3% |
Options reported separately and not counted above: NEM calls ($102K), SU calls ($29K), ENVX calls ($16K), BTU calls ($15K), CLF calls ($15K), CVE calls ($10K), PSX calls ($3K), CNQ calls ($2K), VAL calls ($1K).
Portfolio Sells Q1 2025 → Q2 2025
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -2.8% | 9.20% | −1.24 |
| DMLP Dorchester Minerals LP | Reduce -0.1% | 7.93% | −0.69 |
| HCC Warrior Met Coal Inc. | Reduce -55.1% | 0.38% | −0.50 |
| AN Autonation Inc. | Sold out | 0.00% | −0.41 |
| BN Brookfield Corp. | Sold out | 0.00% | −0.38 |
| SU Suncor Energy Inc. | Reduce -1.4% | 6.91% | −0.38 |
| AMR Alpha Metallurgical Resource | Sold out | 0.00% | −0.29 |
| TPL Texas Pacific Land Corp. | Reduce -14.5% | 0.54% | −0.26 |
| BTU Peabody Energy Corp. | Reduce -47.6% | 0.27% | −0.25 |
| FNV Franco-Nevada Corp. | Reduce -11.3% | 2.51% | −0.23 |
| TYG Tortoise Energy Infrastruct | Reduce -8.5% | 2.87% | −0.23 |
| COST Costco Wholesale Corp. | Sold out | 0.00% | −0.21 |
| LOW Lowe's Cos Inc. | Reduce -7.6% | 1.24% | −0.18 |
| REGN Regeneron Pharmaceuticals | Sold out | 0.00% | −0.18 |
| WMT Walmart Inc. | Sold out | 0.00% | −0.15 |
| NAZ Nuveen Az QLTY Muni Inc. | Sold out | 0.00% | −0.15 |
| DEO Diageo PLC-Sponsored ADR | Sold out | 0.00% | −0.15 |
| VAL Valaris Ltd. | Reduce -15.0% | 1.38% | −0.14 |
| TECK Teck Resources Ltd.-CLS B | Sold out | 0.00% | −0.14 |
| ITA iShares U.S. Aerospace & Def | Sold out | 0.00% | −0.14 |
| REXR Rexford Industrial Realty Inc. | Reduce -30.0% | 0.23% | −0.13 |
| NXH Neighborhood Intelligence Inc. | Sold out | 0.00% | −0.11 |
| JOE The St Joe Co. | Reduce -13.1% | 0.80% | −0.11 |
| BOC Boston Omaha Corp. Class A | Reduce -2.6% | 1.12% | −0.08 |
| ZIG The Acquirers Fund ETF | Reduce -33.5% | 0.15% | −0.08 |
| TRMB Trimble Inc. | Reduce -19.8% | 0.73% | −0.06 |
| GE General Electric | Reduce -39.3% | 0.20% | −0.06 |
| UMH Umh Properties Inc. | Reduce -10.6% | 0.19% | −0.05 |
| XOM Exxon Mobil Corp. | Reduce -5.7% | 0.23% | −0.04 |
| GOOGL Alphabet Inc. Class A | Reduce -20.6% | 0.36% | −0.04 |
| WCC Wesco International Inc. | Reduce -22.2% | 0.46% | −0.04 |
| AIG American International Group | Reduce -4.4% | 0.55% | −0.04 |
| CVX Chevron Corp. | Reduce -6.9% | 0.14% | −0.04 |
| IMO Imperial Oil Ltd. | Reduce -12.4% | 0.78% | −0.04 |
| WOLF Wolfspeed Inc. | Sold out | 0.00% | −0.02 |
| CVE Cenovus Energy Inc. | Reduce -51.3% | 0.02% | −0.02 |
| AAPL Apple Inc. | Reduce -1.7% | 0.19% | −0.02 |
| SOBO South Bow Corp. | Reduce -5.0% | 0.47% | −0.02 |
| SJT San Juan Basin Royalty TR | Reduce -17.2% | 0.14% | −0.02 |
| HD Home Depot Inc. | Reduce -1.1% | 0.86% | −0.01 |
| QCOM Qualcomm Inc. | Reduce -6.1% | 0.36% | −0.01 |
| ALNT Allient Inc. | Reduce -41.7% | 0.15% | −0.01 |
| SHW The Sherwin-Williams Co. | Reduce -0.6% | 0.16% | −0.00 |
| TRP TC Energy Corp. | Reduce -3.0% | 0.34% | −0.00 |
| GOOG Alphabet Inc. Class C | Reduce -11.2% | 0.18% | +0.00 |
| LMT Lockheed Martin Corp. | Reduce -2.9% | 2.02% | +0.00 |
| ALEX Alexander & Baldwin Inc. | Reduce -2.4% | 0.21% | +0.00 |
| NTR Nutrien Ltd. | Reduce -12.2% | 0.21% | +0.00 |
| SFM Sprouts Farmers Market Inc. | Reduce -4.9% | 0.26% | +0.01 |
| BG Bunge Global SA | Reduce -2.1% | 0.33% | +0.01 |
Portfolio Buys Q1 2025 → Q2 2025
| NRP Natural Resource Partners LP | Add +36.6% | 4.44% | +0.88 |
| OKE Oneok Inc. | Add +134.0% | 1.74% | +0.83 |
| LECO Lincoln Electric Holdings | Add +461.1% | 0.93% | +0.78 |
| HON Honeywell International Inc. | Add +14.6% | 2.36% | +0.48 |
| EXP Eagle Materials Inc. | Add +30.6% | 2.50% | +0.38 |
| OUNZ Vaneck Merk Gold ETF | Add +24.1% | 1.49% | +0.35 |
| LAMR Lamar Advertising Co. Class A | Add +47.0% | 0.81% | +0.29 |
| GRID First TRST Nasd Class Edg Sgiif | Add +50.4% | 0.48% | +0.22 |
| EPD Enterprise Products Partners | Add +21.7% | 2.34% | +0.21 |
| NPK National Presto Inds Inc. | New | 0.20% | +0.20 |
| VLTO Veralto Corp. | New | 0.20% | +0.20 |
| PSX Phillips 66 | New | 0.18% | +0.18 |
| ARIS WATER SOLUTIONS INC-A | New | 0.18% | +0.18 |
| FERG Ferguson Enterprises Inc. | New | 0.16% | +0.16 |
| OC Owens Corning | New | 0.15% | +0.15 |
| NEM Newmont Corp. | Add +35.4% | 0.38% | +0.15 |
| WPC WP Carey Inc. | Add +11.2% | 1.61% | +0.14 |
| FRPH FRP Holdings Inc. | Add +17.6% | 1.34% | +0.12 |
| SII Sprott Inc. | Add +0.2% | 0.32% | +0.11 |
| ENB Enbridge Inc. | Add +8.3% | 1.12% | +0.10 |
| IA Innovative Solutions & Supp | Add +31.4% | 0.15% | +0.10 |
| CAAP Corp. America Airports SA | Add +2.6% | 0.76% | +0.09 |
| PKST Peakstone Realty Trust | Add +0.1% | 0.78% | +0.03 |
| GSHD Goosehead Insurance Inc. Class A | Add +29.5% | 0.18% | +0.02 |
| HGTY Hagerty Inc. Class A | Add +0.7% | 0.20% | +0.02 |
| CRESY Cresud S.A.-Spons ADR | Add +9.0% | 0.40% | +0.02 |
| PSLV Sprott Physical Silver Trust | Add +3.4% | 0.24% | +0.02 |
| SSNC Ss&c Technologies Holdings | Add +9.5% | 0.22% | +0.02 |
| PLYM Plymouth Industrial REIT Inc. | Add +2.4% | 0.70% | +0.00 |
| CLF Cleveland-Cliffs Inc. | Add +4.4% | 0.09% | −0.00 |
| BRKR Bruker Corp. | Add +0.4% | 0.35% | −0.01 |
| TIPT Tiptree Inc. | Add +0.2% | 0.44% | −0.01 |
| LEGH Legacy Housing Corp. | Add +8.1% | 1.70% | −0.06 |
| SKYH SKY Harbour Group Corp. | Add +19.7% | 1.78% | −0.21 |
Options Activity Q1 2025 → Q2 2025
| NEM Newmont Corp. | call | Reduce -5.9% | 9,500 | $102K |
| AEM Agnico Eagle Mines Ltd. | call | Sold out | 1,300 | $47Kbefore exit |
| SU Suncor Energy Inc. | call | Reduce -50.6% | 3,800 | $29K |
| ENVX Enovix Corp. | call | Reduce -23.1% | 9,000 | $16K |
| BTU Peabody Energy Corp. | call | Reduce -32.0% | 17,000 | $15K |
| CLF Cleveland-Cliffs Inc. | call | Reduce -4.3% | 6,700 | $15K |
| CVE Cenovus Energy Inc. | call | Reduce -39.5% | 13,800 | $10K |
| WOLF Wolfspeed Inc. | call | Sold out | 11,300 | $6Kbefore exit |
| AIG American International Group | call | Sold out | 300 | $4Kbefore exit |
| NXH Neighborhood Intelligence Inc. | call | Sold out | 4,600 | $3Kbefore exit |
| PSX Phillips 66 | call | New | 100 | $3K |
| CNQ Canadian Natural Resources | call | Reduce -50.0% | 1,500 | $2K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 88 | $181.1M | PHYS, BRK.B, NRP, DMLP, EXP |
| Q1 2026 | 87 | $185.8M | PHYS, BRK.B, NRP, DMLP, SU |
| Q4 2025 | 90 | $164.5M | PHYS, BRK.B, NRP, DMLP, SU |
| Q3 2025 | 99 | $163.0M | PHYS, BRK.B, DMLP, SU, NRP |
| Q2 2025 | 95 | $145.2M | PHYS, BRK.B, DMLP, SU, NRP |
| Q1 2025 | 101 | $144.3M | PHYS, BRK.B, DMLP, SU, CNQ |
| Q4 2024 | 103 | $134.9M | PHYS, DMLP, BRK.B, SU, CNQ |
| Q3 2024 | 104 | $135.5M | PHYS, BRK.B, DMLP, SU, CNQ |
| Q2 2024 | 99 | $130.0M | PHYS, DMLP, BRK.B, SU, CNQ |
| Q1 2024 | 98 | $133.2M | DMLP, PHYS, BRK.B, SU, CNQ |