Meixler Investment Management, Ltd.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 6, 2025), Meixler Investment Management, Ltd. reported 99 stock positions worth $163.0 million. Its top holding was Sprott Physical Gold Trust (PHYS) at 11.1% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 8.7%) and Dorchester Minerals (DMLP, 6.6%). Compared with Q2 2025, it opened 8 new positions, sold out of 4, added to 31 and reduced 59. The biggest buy was a new position in Kinder Morgan (KMI) and the biggest sale Suncor Energy (SU, shares −8%).
- Most Recent 13F
- Q2 2026
- Location
- SHOW LOW, AZ
- CIK
- 0001911615
- Portfolio Value
- $163.0M (Q3 2025)
- SEC Filing
- 0001911615-25-000002 ↗ filed Nov 6, 2025
Holdings Value
Holdings 99 stocks · $163.0M
| PHYS Sprott Physical Gold Trust | 11.09% | 610,666 | $18.1M | Reduce -3.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 8.70% | 28,227 | $14.2M | Add +2.7% |
| DMLP Dorchester Minerals LP | 6.57% | 413,972 | $10.7M | Add +0.2% |
| SU Suncor Energy Inc. | 6.34% | 247,347 | $10.3M | Reduce -7.6% |
| NRP Natural Resource Partners LP | 5.02% | 77,967 | $8.2M | Add +15.5% |
| CNQ Canadian Natural Resources | 3.75% | 191,528 | $6.1M | Add +9.6% |
| EXP Eagle Materials Inc. | 2.87% | 20,089 | $4.7M | Add +12.1% |
| FNV Franco-Nevada Corp. | 2.57% | 18,826 | $4.2M | Reduce -15.3% |
| TYG Tortoise Energy Infrastruct | 2.45% | 92,828 | $4.0M | Reduce -2.2% |
| EPD Enterprise Products Partners | 2.39% | 124,775 | $3.9M | Add +14.0% |
| HON Honeywell International Inc. | 2.31% | 17,853 | $3.8M | Add +21.1% |
| LMT Lockheed Martin Corp. | 1.90% | 6,221 | $3.1M | Reduce -1.5% |
| LEGH Legacy Housing Corp. | 1.73% | 102,398 | $2.8M | Reduce -5.7% |
| OUNZ Vaneck Merk Gold ETF | 1.64% | 71,698 | $2.7M | Add +5.5% |
| OR Or Royalties Inc. | 1.54% | 62,480 | $2.5M | Reduce -13.8% |
| WPC WP Carey Inc. | 1.52% | 36,698 | $2.5M | Reduce -2.1% |
| OKE Oneok Inc. | 1.42% | 31,642 | $2.3M | Add +2.3% |
| SKYH SKY Harbour Group Corp. | 1.34% | 221,081 | $2.2M | Reduce -16.3% |
| SAND Sandstorm Gold Ltd. | 1.34% | 173,913 | $2.2M | Reduce -7.0% |
| PKST Peakstone Realty Trust | 1.32% | 164,127 | $2.2M | Add +90.7% |
| VAL Valaris Ltd. | 1.19% | 39,766 | $1.9M | Reduce -16.6% |
| LOW Lowe's Cos Inc. | 1.16% | 7,554 | $1.9M | Reduce -7.3% |
| KMI Kinder Morgan Inc. | 1.15% | 66,485 | $1.9M | New |
| ENB Enbridge Inc. | 1.09% | 35,295 | $1.8M | Reduce -1.6% |
| FRPH FRP Holdings Inc. filed as FRP HLDGS INC | 1.09% | 72,722 | $1.8M | Add +0.2% |
| CP Canadian Pacific Kansas City | 1.01% | 22,076 | $1.6M | New |
| KNF Knife River Corp. | 0.99% | 20,930 | $1.6M | New |
| GRID First TRST Nasd Class Edg Sgiif | 0.91% | 9,808 | $1.5M | Add +96.7% |
| BOC Boston Omaha Corp. Class A | 0.87% | 108,547 | $1.4M | Reduce -6.6% |
| HD Home Depot Inc. | 0.82% | 3,316 | $1.3M | Reduce -2.3% |
| LECO Lincoln Electric Holdings | 0.78% | 5,407 | $1.3M | Reduce -16.9% |
| XAR SS SPDR S&P Aerospace Def | 0.77% | 5,367 | $1.3M | Reduce -4.7% |
| PAG Penske Automotive Group Inc. | 0.71% | 6,636 | $1.2M | New |
| AEM Agnico Eagle Mines Ltd. | 0.66% | 6,387 | $1.1M | Reduce -26.1% |
| CAAP Corp. America Airports SA filed as CORPORACION AMER ARPTS S A | 0.65% | 58,444 | $1.1M | Add +7.5% |
| IMO Imperial Oil Ltd. | 0.65% | 11,632 | $1.1M | Reduce -18.3% |
| JOE The St Joe Co. | 0.62% | 20,524 | $1.0M | Reduce -15.3% |
| VOXR Vox Royalty Corp. | 0.57% | 214,779 | $924K | Reduce -1.4% |
| TRMB Trimble Inc. | 0.56% | 11,203 | $915K | Reduce -20.1% |
| LAMR Lamar Advertising Co. Class A | 0.53% | 7,042 | $862K | Reduce -27.0% |
| GOOGL Alphabet Inc. Class A | 0.51% | 3,434 | $835K | Add +17.1% |
| NEM Newmont Corp. | 0.46% | 8,830 | $744K | Reduce -6.2% |
| AMRZ Amrize Ltd. | 0.45% | 15,100 | $733K | New |
| WPM Wheaton Precious Metals Corp. | 0.45% | 6,552 | $733K | Reduce -9.9% |
| SNX TD Synnex Corp. | 0.45% | 4,455 | $730K | Reduce -10.9% |
| WCC Wesco International Inc. | 0.43% | 3,307 | $699K | Reduce -8.9% |
| NE Noble Corp. PLC | 0.43% | 24,530 | $694K | Reduce -2.9% |
| SOBO South Bow Corp. | 0.42% | 24,125 | $682K | Reduce -7.9% |
| AIG American International Group | 0.41% | 8,580 | $674K | Reduce -7.6% |
| SFM Sprouts Farmers Market Inc. | 0.41% | 6,138 | $668K | Add +166.4% |
| TFPM Triple Flag Precious Met | 0.37% | 20,798 | $609K | Reduce -8.6% |
| RGLD Royal Gold Inc. | 0.37% | 3,007 | $603K | New |
| OMAB Grupo Aeroportuario Cen-ADR | 0.36% | 5,665 | $588K | Reduce -3.3% |
| QCOM Qualcomm Inc. | 0.35% | 3,442 | $573K | Add +4.6% |
| GBTC Grayscale Bitcoin Trust ETF | 0.33% | 5,977 | $537K | Reduce -3.6% |
| TPL Texas Pacific Land Corp. | 0.32% | 564 | $527K | Reduce -24.6% |
| BTU Peabody Energy Corp. | 0.32% | 19,759 | $524K | Reduce -32.5% |
| ALTG Alta Equipment Group Inc. | 0.32% | 72,192 | $523K | Add +116.7% |
| TRP TC Energy Corp. | 0.32% | 9,528 | $518K | Reduce -4.4% |
| TIPT Tiptree Inc. | 0.31% | 26,711 | $512K | Reduce -1.4% |
| MELI MercadoLibre Inc. | 0.31% | 218 | $509K | Add +18.5% |
| CRESY Cresud S.A.-Spons ADR | 0.30% | 53,543 | $493K | Reduce -0.2% |
| ATKR Atkore Inc. | 0.30% | 7,700 | $483K | Add +47.3% |
| SII Sprott Inc. | 0.29% | 5,776 | $481K | Reduce -14.1% |
| IBIT iShares Bitcoin Trust ETF | 0.28% | 7,111 | $462K | Reduce -5.3% |
| PSLV Sprott Physical Silver Trust | 0.27% | 28,165 | $442K | Reduce -0.3% |
| HCC Warrior Met Coal Inc. | 0.27% | 6,840 | $435K | Reduce -42.7% |
| REXR Rexford Industrial Realty Inc. | 0.26% | 10,494 | $431K | Add +14.0% |
| BRKR Bruker Corp. | 0.26% | 12,983 | $422K | Add +4.3% |
| MOS The Mosaic Co. | 0.25% | 11,944 | $414K | Reduce -11.5% |
| ARW Arrow Electronics Inc. | 0.25% | 3,396 | $411K | Add +2.5% |
| GOOG Alphabet Inc. Class C | 0.23% | 1,565 | $381K | Add +3.9% |
| BG Bunge Global SA | 0.23% | 4,680 | $380K | Reduce -21.6% |
| HGTY Hagerty Inc. Class A | 0.21% | 29,115 | $351K | Reduce -0.6% |
| AAPL Apple Inc. | 0.21% | 1,362 | $347K | Add +1.1% |
| XOM Exxon Mobil Corp. | 0.21% | 3,060 | $345K | No change |
| SSNC Ss&c Technologies Holdings | 0.21% | 3,849 | $342K | Reduce -0.5% |
| VLTO Veralto Corp. | 0.21% | 3,153 | $336K | Add +11.9% |
| NPK National Presto Inds Inc. | 0.20% | 2,956 | $332K | Reduce -2.3% |
| ALEX Alexander & Baldwin Inc. | 0.19% | 17,350 | $316K | Reduce -0.5% |
| GSHD Goosehead Insurance Inc. Class A | 0.19% | 4,135 | $308K | Add +70.8% |
| SJT San Juan Basin Royalty TR | 0.18% | 49,600 | $300K | Add +48.1% |
| OC Owens Corning | 0.18% | 2,107 | $298K | Add +30.4% |
| UMH Umh Properties Inc. filed as UMH PPTYS INC | 0.18% | 19,275 | $286K | Add +18.8% |
| EMX Emx Royalty Corp. filed as EMX RTY CORP | 0.16% | 51,250 | $264K | Reduce -13.3% |
| NTR Nutrien Ltd. | 0.16% | 4,440 | $261K | Reduce -13.7% |
| PLYM Plymouth Industrial REIT Inc. | 0.15% | 11,265 | $252K | Reduce -82.1% |
| PSX Phillips 66 | 0.15% | 1,827 | $249K | Reduce -16.7% |
| FERG Ferguson Enterprises Inc. | 0.15% | 1,089 | $245K | Reduce -0.7% |
| CVX Chevron Corp. | 0.14% | 1,428 | $222K | Reduce -0.4% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.13% | 4,200 | $217K | New |
| ALNT Allient Inc. | 0.13% | 4,782 | $214K | Reduce -20.9% |
| IA Innovative Solutions & Supp | 0.13% | 16,825 | $210K | Add +10.2% |
| ZIG The Acquirers Fund ETF | 0.13% | 5,540 | $209K | Reduce -8.4% |
| SHW The Sherwin-Williams Co. | 0.13% | 598 | $207K | Reduce -9.8% |
| MXC Mexco Energy Corp. | 0.11% | 19,827 | $182K | Add +2.9% |
| CLF Cleveland-Cliffs Inc. | 0.10% | 12,763 | $156K | Reduce -26.6% |
| HE Hawaiian Electric Inds | 0.07% | 10,000 | $110K | New |
| ILPT Industrial Logistics Propert | 0.05% | 15,300 | $89K | Reduce -7.8% |
Options reported separately and not counted above: NEM calls ($95K), BTU calls ($33K), CLF calls ($24K), SU calls ($22K), CNQ calls ($20K), TIPT calls ($653).
Portfolio Sells Q2 2025 → Q3 2025
| SU Suncor Energy Inc. | Reduce -7.6% | 6.34% | −0.56 |
| PLYM Plymouth Industrial REIT Inc. | Reduce -82.1% | 0.15% | −0.54 |
| SKYH SKY Harbour Group Corp. | Reduce -16.3% | 1.34% | −0.44 |
| TYG Tortoise Energy Infrastruct | Reduce -2.2% | 2.45% | −0.42 |
| LAMR Lamar Advertising Co. Class A | Reduce -27.0% | 0.53% | −0.28 |
| BOC Boston Omaha Corp. Class A | Reduce -6.6% | 0.87% | −0.25 |
| ENVX Enovix Corp. | Sold out | 0.00% | −0.24 |
| TPL Texas Pacific Land Corp. | Reduce -24.6% | 0.32% | −0.22 |
| GE General Electric | Sold out | 0.00% | −0.20 |
| VAL Valaris Ltd. | Reduce -16.6% | 1.19% | −0.19 |
| ARIS WATER SOLUTIONS INC-A | Sold out | 0.00% | −0.18 |
| JOE The St Joe Co. | Reduce -15.3% | 0.62% | −0.17 |
| TRMB Trimble Inc. | Reduce -20.1% | 0.56% | −0.17 |
| LECO Lincoln Electric Holdings | Reduce -16.9% | 0.78% | −0.15 |
| AIG American International Group | Reduce -7.6% | 0.41% | −0.13 |
| IMO Imperial Oil Ltd. | Reduce -18.3% | 0.65% | −0.13 |
| TIPT Tiptree Inc. | Reduce -1.4% | 0.31% | −0.13 |
| LMT Lockheed Martin Corp. | Reduce -1.5% | 1.90% | −0.11 |
| HCC Warrior Met Coal Inc. | Reduce -42.7% | 0.27% | −0.11 |
| BG Bunge Global SA | Reduce -21.6% | 0.23% | −0.10 |
| CRESY Cresud S.A.-Spons ADR | Reduce -0.2% | 0.30% | −0.10 |
| WPC WP Carey Inc. | Reduce -2.1% | 1.52% | −0.09 |
| MOS The Mosaic Co. | Reduce -11.5% | 0.25% | −0.09 |
| LOW Lowe's Cos Inc. | Reduce -7.3% | 1.16% | −0.08 |
| OMAB Grupo Aeroportuario Cen-ADR | Reduce -3.3% | 0.36% | −0.07 |
| SOBO South Bow Corp. | Reduce -7.9% | 0.42% | −0.05 |
| AEM Agnico Eagle Mines Ltd. | Reduce -26.1% | 0.66% | −0.05 |
| NTR Nutrien Ltd. | Reduce -13.7% | 0.16% | −0.05 |
| XAR SS SPDR S&P Aerospace Def | Reduce -4.7% | 0.77% | −0.04 |
| NE Noble Corp. PLC | Reduce -2.9% | 0.43% | −0.04 |
| WCC Wesco International Inc. | Reduce -8.9% | 0.43% | −0.03 |
| HD Home Depot Inc. | Reduce -2.3% | 0.82% | −0.03 |
| GBTC Grayscale Bitcoin Trust ETF | Reduce -3.6% | 0.33% | −0.03 |
| IBIT iShares Bitcoin Trust ETF | Reduce -5.3% | 0.28% | −0.03 |
| SHW The Sherwin-Williams Co. | Reduce -9.8% | 0.13% | −0.03 |
| PSX Phillips 66 | Reduce -16.7% | 0.15% | −0.03 |
| ENB Enbridge Inc. | Reduce -1.6% | 1.09% | −0.03 |
| SII Sprott Inc. | Reduce -14.1% | 0.29% | −0.03 |
| CVE Cenovus Energy Inc. | Sold out | 0.00% | −0.02 |
| ALEX Alexander & Baldwin Inc. | Reduce -0.5% | 0.19% | −0.02 |
| SNX TD Synnex Corp. | Reduce -10.9% | 0.45% | −0.02 |
| ALNT Allient Inc. | Reduce -20.9% | 0.13% | −0.02 |
| ZIG The Acquirers Fund ETF | Reduce -8.4% | 0.13% | −0.02 |
| TRP TC Energy Corp. | Reduce -4.4% | 0.32% | −0.02 |
| FERG Ferguson Enterprises Inc. | Reduce -0.7% | 0.15% | −0.01 |
| SSNC Ss&c Technologies Holdings | Reduce -0.5% | 0.21% | −0.01 |
| CVX Chevron Corp. | Reduce -0.4% | 0.14% | −0.01 |
| NPK National Presto Inds Inc. | Reduce -2.3% | 0.20% | −0.00 |
| WPM Wheaton Precious Metals Corp. | Reduce -9.9% | 0.45% | −0.00 |
| TFPM Triple Flag Precious Met | Reduce -8.6% | 0.37% | +0.00 |
Portfolio Buys Q2 2025 → Q3 2025
| KMI Kinder Morgan Inc. | New | 1.15% | +1.15 |
| CP Canadian Pacific Kansas City | New | 1.01% | +1.01 |
| KNF Knife River Corp. | New | 0.99% | +0.99 |
| PAG Penske Automotive Group Inc. | New | 0.71% | +0.71 |
| NRP Natural Resource Partners LP | Add +15.5% | 5.02% | +0.58 |
| PKST Peakstone Realty Trust | Add +90.7% | 1.32% | +0.54 |
| AMRZ Amrize Ltd. | New | 0.45% | +0.45 |
| GRID First TRST Nasd Class Edg Sgiif | Add +96.7% | 0.91% | +0.43 |
| EXP Eagle Materials Inc. | Add +12.1% | 2.87% | +0.38 |
| RGLD Royal Gold Inc. | New | 0.37% | +0.37 |
| ALTG Alta Equipment Group Inc. | Add +116.7% | 0.32% | +0.18 |
| GOOGL Alphabet Inc. Class A | Add +17.1% | 0.51% | +0.16 |
| SFM Sprouts Farmers Market Inc. | Add +166.4% | 0.41% | +0.15 |
| OUNZ Vaneck Merk Gold ETF | Add +5.5% | 1.64% | +0.14 |
| BAC Bank of America Corp. | New | 0.13% | +0.13 |
| HE Hawaiian Electric Inds | New | 0.07% | +0.07 |
| EPD Enterprise Products Partners | Add +14.0% | 2.39% | +0.05 |
| GOOG Alphabet Inc. Class C | Add +3.9% | 0.23% | +0.05 |
| SJT San Juan Basin Royalty TR | Add +48.1% | 0.18% | +0.05 |
| ATKR Atkore Inc. | Add +47.3% | 0.30% | +0.04 |
| REXR Rexford Industrial Realty Inc. | Add +14.0% | 0.26% | +0.04 |
| OC Owens Corning | Add +30.4% | 0.18% | +0.03 |
| AAPL Apple Inc. | Add +1.1% | 0.21% | +0.02 |
| GSHD Goosehead Insurance Inc. Class A | Add +70.8% | 0.19% | +0.01 |
| VLTO Veralto Corp. | Add +11.9% | 0.21% | +0.01 |
| MXC Mexco Energy Corp. | Add +2.9% | 0.11% | −0.01 |
| QCOM Qualcomm Inc. | Add +4.6% | 0.35% | −0.01 |
| UMH Umh Properties Inc. | Add +18.8% | 0.18% | −0.01 |
| IA Innovative Solutions & Supp | Add +10.2% | 0.13% | −0.02 |
| MELI MercadoLibre Inc. | Add +18.5% | 0.31% | −0.02 |
| CNQ Canadian Natural Resources | Add +9.6% | 3.75% | −0.02 |
| ARW Arrow Electronics Inc. | Add +2.5% | 0.25% | −0.04 |
| HON Honeywell International Inc. | Add +21.1% | 2.31% | −0.06 |
| BRKR Bruker Corp. | Add +4.3% | 0.26% | −0.09 |
| CAAP Corp. America Airports SA | Add +7.5% | 0.65% | −0.11 |
| FRPH FRP Holdings Inc. | Add +0.2% | 1.09% | −0.26 |
| OKE Oneok Inc. | Add +2.3% | 1.42% | −0.32 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +2.7% | 8.70% | −0.49 |
| DMLP Dorchester Minerals LP | Add +0.2% | 6.57% | −1.36 |
Options Activity Q2 2025 → Q3 2025
| NEM Newmont Corp. | call | Reduce -61.0% | 3,700 | $95K |
| BTU Peabody Energy Corp. | call | Reduce -48.8% | 8,700 | $33K |
| CLF Cleveland-Cliffs Inc. | call | Reduce -37.3% | 4,200 | $24K |
| SU Suncor Energy Inc. | call | Reduce -44.7% | 2,100 | $22K |
| CNQ Canadian Natural Resources | call | Add +120.0% | 3,300 | $20K |
| ENVX Enovix Corp. | call | Sold out | 9,000 | $16Kbefore exit |
| CVE Cenovus Energy Inc. | call | Sold out | 13,800 | $10Kbefore exit |
| PSX Phillips 66 | call | Sold out | 100 | $3Kbefore exit |
| VAL Valaris Ltd. | call | Sold out | 300 | $1Kbefore exit |
| TIPT Tiptree Inc. | call | New | 300 | $653 |
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 |