Meixler Investment Management, Ltd.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 6, 2026), Meixler Investment Management, Ltd. reported 87 stock positions worth $185.8 million. Its top holding was Sprott Physical Gold Trust (PHYS) at 10.5% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 7.4%) and Natural Resource Partners (NRP, 6.1%). Compared with Q4 2025, it opened 7 new positions, sold out of 10, added to 35 and reduced 44. The biggest buy was a new position in Global X MLP ETF (MLPA) and the biggest sale Sprott Physical Gold Trust (PHYS, shares −7%).
- Most Recent 13F
- Q2 2026
- Location
- SHOW LOW, AZ
- CIK
- 0001911615
- Portfolio Value
- $185.8M (Q1 2026)
- SEC Filing
- 0001911615-26-000002 ↗ filed May 6, 2026
Holdings Value
Holdings 87 stocks · $185.8M
| PHYS Sprott Physical Gold Trust | 10.45% | 548,744 | $19.4M | Reduce -7.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 7.36% | 28,656 | $13.7M | Add +0.5% |
| NRP Natural Resource Partners LP | 6.14% | 93,192 | $11.4M | Reduce -1.4% |
| DMLP Dorchester Minerals LP | 5.79% | 384,769 | $10.8M | Reduce -7.2% |
| SU Suncor Energy Inc. | 4.79% | 134,927 | $8.9M | Reduce -24.2% |
| EPD Enterprise Products Partners | 3.15% | 155,825 | $5.9M | Add +9.0% |
| CNQ Canadian Natural Resources | 2.97% | 116,219 | $5.5M | Reduce -17.6% |
| EXP Eagle Materials Inc. | 2.91% | 28,772 | $5.4M | Add +23.7% |
| HON Honeywell International Inc. | 2.74% | 22,165 | $5.1M | Add +5.0% |
| TYG Tortoise Energy Infrastruct | 2.60% | 103,971 | $4.8M | Add +8.1% |
| OKE Oneok Inc. | 2.53% | 53,277 | $4.7M | Add +30.4% |
| RGLD Royal Gold Inc. | 2.41% | 17,019 | $4.5M | Add +26.4% |
| FNV Franco-Nevada Corp. | 2.14% | 15,413 | $4.0M | Reduce -11.2% |
| LMT Lockheed Martin Corp. | 2.05% | 6,105 | $3.8M | Reduce -0.3% |
| OUNZ Vaneck Merk Gold ETF | 1.75% | 72,402 | $3.3M | Reduce -0.3% |
| KMI Kinder Morgan Inc. | 1.75% | 98,475 | $3.2M | Add +14.0% |
| WPC WP Carey Inc. | 1.55% | 40,973 | $2.9M | Add +8.3% |
| SKYH SKY Harbour Group Corp. | 1.46% | 271,752 | $2.7M | Add +2.9% |
| MLPA Global X MLP ETF | 1.46% | 50,283 | $2.7M | New |
| KNF Knife River Corp. | 1.39% | 34,930 | $2.6M | Add +15.4% |
| MDV Modiv Industrial Inc. | 1.37% | 171,423 | $2.5M | Add +141.2% |
| CP Canadian Pacific Kansas City | 1.31% | 30,897 | $2.4M | Add +11.9% |
| ESAB Esab Corp. | 1.28% | 24,172 | $2.4M | New |
| MUSA Murphy USA Inc. | 1.24% | 4,586 | $2.3M | Add +15.5% |
| TGS Transportador Gas-ADR SP B | 1.16% | 61,200 | $2.2M | New |
| OR Or Royalties Inc. | 1.06% | 49,008 | $2.0M | Reduce -13.6% |
| ET Energy Transfer LP | 0.89% | 86,875 | $1.6M | New |
| ENB Enbridge Inc. | 0.85% | 29,107 | $1.6M | Reduce -21.8% |
| LOW Lowe's Cos Inc. | 0.85% | 6,805 | $1.6M | Reduce -5.0% |
| FRPH FRP Holdings Inc. filed as FRP HLDGS INC | 0.84% | 70,587 | $1.6M | Add +3.8% |
| QCOM Qualcomm Inc. | 0.79% | 11,629 | $1.5M | Add +77.0% |
| LEGH Legacy Housing Corp. | 0.78% | 70,840 | $1.5M | Reduce -47.7% |
| GRID First TRST Nasd Class Edg Sgiif | 0.78% | 8,740 | $1.4M | Reduce -10.2% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.77% | 2 | $1.4M | No change |
| VAL Valaris Ltd. | 0.75% | 14,280 | $1.4M | Reduce -37.7% |
| PAG Penske Automotive Group Inc. | 0.74% | 9,253 | $1.4M | Add +8.5% |
| CAAP Corp. America Airports SA filed as CORPORACION AMER ARPTS S A | 0.69% | 50,259 | $1.3M | Reduce -4.5% |
| XAR SS SPDR S&P Aerospace Def | 0.69% | 4,955 | $1.3M | Reduce -2.1% |
| BOC Boston Omaha Corp. Class A | 0.68% | 101,747 | $1.3M | Reduce -3.5% |
| REXR Rexford Industrial Realty Inc. | 0.65% | 36,249 | $1.2M | Add +219.0% |
| TRMB Trimble Inc. | 0.64% | 18,232 | $1.2M | Add +50.4% |
| SOLS Solstice Adv Materials Inc. | 0.63% | 15,339 | $1.2M | Add +36.1% |
| HD Home Depot Inc. | 0.55% | 3,188 | $1.0M | Reduce -2.0% |
| LECO Lincoln Electric Holdings | 0.54% | 4,149 | $1.0M | Reduce -19.0% |
| JOE The St Joe Co. | 0.50% | 14,330 | $934K | Reduce -12.1% |
| IMO Imperial Oil Ltd. | 0.50% | 7,051 | $920K | Reduce -18.3% |
| AMRZ Amrize Ltd. | 0.48% | 16,595 | $900K | Add +2.1% |
| VOXR Vox Royalty Corp. | 0.48% | 168,192 | $885K | Reduce -10.7% |
| GOOGL Alphabet Inc. Class A | 0.47% | 2,948 | $872K | Reduce -0.3% |
| DIN Dine Brands Global Inc. | 0.44% | 31,720 | $809K | Reduce -7.2% |
| LAMR Lamar Advertising Co. Class A | 0.43% | 6,280 | $802K | Add +0.6% |
| AEM Agnico Eagle Mines Ltd. | 0.42% | 3,780 | $788K | Reduce -29.6% |
| FERG Ferguson Enterprises Inc. | 0.42% | 3,301 | $776K | Add +11.2% |
| WCC Wesco International Inc. | 0.41% | 2,764 | $767K | Reduce -2.6% |
| WPM Wheaton Precious Metals Corp. | 0.41% | 5,657 | $767K | Reduce -7.2% |
| SNX TD Synnex Corp. | 0.38% | 3,748 | $701K | Reduce -7.1% |
| NEM Newmont Corp. | 0.35% | 5,764 | $657K | Reduce -39.4% |
| CRESY Cresud S.A.-Spons ADR | 0.35% | 52,028 | $655K | Add +1.9% |
| OMAB Grupo Aeroportuario Cen-ADR | 0.34% | 5,485 | $640K | Reduce -1.8% |
| MELI MercadoLibre Inc. | 0.34% | 371 | $636K | Add +22.4% |
| PRSU Pursuit Attractions and Hosp | 0.32% | 15,727 | $594K | New |
| TFPM Triple Flag Precious Met | 0.32% | 16,359 | $586K | Reduce -12.9% |
| TRP TC Energy Corp. | 0.29% | 8,643 | $548K | Reduce -8.6% |
| FVR Frontview REIT Inc. | 0.29% | 34,937 | $543K | Add +22.5% |
| SII Sprott Inc. | 0.28% | 3,638 | $512K | Reduce -24.6% |
| XOM Exxon Mobil Corp. | 0.26% | 3,050 | $490K | Reduce -3.0% |
| ALTG Alta Equipment Group Inc. | 0.26% | 93,067 | $488K | Add +0.4% |
| NPK National Presto Inds Inc. | 0.26% | 3,432 | $486K | Add +17.1% |
| GOOG Alphabet Inc. Class C | 0.23% | 1,460 | $430K | Add +1.3% |
| PSLV Sprott Physical Silver Trust | 0.22% | 16,970 | $400K | Reduce -32.0% |
| AAPL Apple Inc. | 0.21% | 1,514 | $387K | Add +13.2% |
| OC Owens Corning | 0.21% | 3,621 | $383K | Add +49.5% |
| ATKR Atkore Inc. | 0.20% | 5,942 | $365K | Reduce -21.0% |
| PSX Phillips 66 | 0.19% | 2,007 | $354K | Add +1.2% |
| UMH Umh Properties Inc. filed as UMH PPTYS INC | 0.18% | 22,950 | $335K | Add +8.8% |
| BTU Peabody Energy Corp. | 0.17% | 9,412 | $316K | Reduce -21.8% |
| AIG American International Group | 0.17% | 4,141 | $312K | Reduce -47.6% |
| VLTO Veralto Corp. | 0.17% | 3,533 | $311K | Add +10.5% |
| HGTY Hagerty Inc. Class A | 0.15% | 26,250 | $288K | Reduce -9.8% |
| CVX Chevron Corp. | 0.14% | 1,290 | $257K | Reduce -8.3% |
| SJT San Juan Basin Royalty TR | 0.14% | 53,900 | $253K | Add +3.5% |
| SSNC Ss&c Technologies Holdings | 0.13% | 3,464 | $237K | Reduce -8.0% |
| HCC Warrior Met Coal Inc. | 0.13% | 2,490 | $236K | Reduce -23.2% |
| ARW Arrow Electronics Inc. | 0.11% | 1,455 | $212K | Reduce -27.3% |
| NE Noble Corp. PLC | 0.11% | 4,105 | $205K | New |
| CE Celanese Corp. | 0.11% | 3,162 | $203K | New |
| HE Hawaiian Electric Inds | 0.10% | 11,600 | $177K | Reduce -5.7% |
Options reported separately and not counted above: NEM calls ($103K), DIN calls ($51K), RGLD calls ($26K), CE calls ($26K), QCOM calls ($13K).
Other holdings (1): bonds, preferreds, convertibles and warrants · $14K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| SKYH.WS Yellowstone Acquisit A -CW25 | *W EXP 01/25/202 | 18,250 | $14K | Reduce -40.1% |
Total filed on the 13F, all lines: $185.8M.
Portfolio Sells Q4 2025 → Q1 2026
| PHYS Sprott Physical Gold Trust | Reduce -7.5% | 10.45% | −1.45 |
| PKST Peakstone Realty Trust | Sold out | 0.00% | −1.44 |
| LEGH Legacy Housing Corp. | Reduce -47.7% | 0.78% | −0.82 |
| SFM Sprouts Farmers Market Inc. | Sold out | 0.00% | −0.49 |
| BRKR Bruker Corp. | Sold out | 0.00% | −0.33 |
| AIG American International Group | Reduce -47.6% | 0.17% | −0.24 |
| ENB Enbridge Inc. | Reduce -21.8% | 0.85% | −0.23 |
| DIN Dine Brands Global Inc. | Reduce -7.2% | 0.44% | −0.23 |
| NEM Newmont Corp. | Reduce -39.4% | 0.35% | −0.22 |
| GBTC Grayscale Bitcoin Trust ETF | Sold out | 0.00% | −0.22 |
| LOW Lowe's Cos Inc. | Reduce -5.0% | 0.85% | −0.20 |
| LECO Lincoln Electric Holdings | Reduce -19.0% | 0.54% | −0.20 |
| GSHD Goosehead Insurance Inc. Class A | Sold out | 0.00% | −0.20 |
| IA Innovative Solutions & Supp | Sold out | 0.00% | −0.19 |
| IBIT iShares Bitcoin Trust ETF | Sold out | 0.00% | −0.19 |
| OR Or Royalties Inc. | Reduce -13.6% | 1.06% | −0.16 |
| PSLV Sprott Physical Silver Trust | Reduce -32.0% | 0.22% | −0.14 |
| BAC Bank of America Corp. | Sold out | 0.00% | −0.14 |
| CAAP Corp. America Airports SA | Reduce -4.5% | 0.69% | −0.14 |
| AEM Agnico Eagle Mines Ltd. | Reduce -29.6% | 0.42% | −0.13 |
| HD Home Depot Inc. | Reduce -2.0% | 0.55% | −0.13 |
| GRID First TRST Nasd Class Edg Sgiif | Reduce -10.2% | 0.78% | −0.13 |
| BOC Boston Omaha Corp. Class A | Reduce -3.5% | 0.68% | −0.12 |
| MXC Mexco Energy Corp. | Sold out | 0.00% | −0.09 |
| GOOGL Alphabet Inc. Class A | Reduce -0.3% | 0.47% | −0.09 |
| ATKR Atkore Inc. | Reduce -21.0% | 0.20% | −0.09 |
| JOE The St Joe Co. | Reduce -12.1% | 0.50% | −0.09 |
| HGTY Hagerty Inc. Class A | Reduce -9.8% | 0.15% | −0.08 |
| OUNZ Vaneck Merk Gold ETF | Reduce -0.3% | 1.75% | −0.08 |
| SSNC Ss&c Technologies Holdings | Reduce -8.0% | 0.13% | −0.07 |
| VOXR Vox Royalty Corp. | Reduce -10.7% | 0.48% | −0.07 |
| TFPM Triple Flag Precious Met | Reduce -12.9% | 0.32% | −0.06 |
| XAR SS SPDR S&P Aerospace Def | Reduce -2.1% | 0.69% | −0.05 |
| FNV Franco-Nevada Corp. | Reduce -11.2% | 2.14% | −0.05 |
| BTU Peabody Energy Corp. | Reduce -21.8% | 0.17% | −0.05 |
| HCC Warrior Met Coal Inc. | Reduce -23.2% | 0.13% | −0.05 |
| ILPT Industrial Logistics Propert | Sold out | 0.00% | −0.04 |
| OMAB Grupo Aeroportuario Cen-ADR | Reduce -1.8% | 0.34% | −0.02 |
| WPM Wheaton Precious Metals Corp. | Reduce -7.2% | 0.41% | −0.02 |
| TRP TC Energy Corp. | Reduce -8.6% | 0.29% | −0.02 |
| ARW Arrow Electronics Inc. | Reduce -27.3% | 0.11% | −0.02 |
| SU Suncor Energy Inc. | Reduce -24.2% | 4.79% | −0.01 |
| SII Sprott Inc. | Reduce -24.6% | 0.28% | −0.01 |
| WCC Wesco International Inc. | Reduce -2.6% | 0.41% | −0.01 |
| HE Hawaiian Electric Inds | Reduce -5.7% | 0.10% | +0.00 |
| CVX Chevron Corp. | Reduce -8.3% | 0.14% | +0.01 |
| SNX TD Synnex Corp. | Reduce -7.1% | 0.38% | +0.01 |
| XOM Exxon Mobil Corp. | Reduce -3.0% | 0.26% | +0.03 |
| IMO Imperial Oil Ltd. | Reduce -18.3% | 0.50% | +0.04 |
| VAL Valaris Ltd. | Reduce -37.7% | 0.75% | +0.05 |
Portfolio Buys Q4 2025 → Q1 2026
| MLPA Global X MLP ETF | New | 1.46% | +1.46 |
| ESAB Esab Corp. | New | 1.28% | +1.28 |
| TGS Transportador Gas-ADR SP B | New | 1.16% | +1.16 |
| ET Energy Transfer LP | New | 0.89% | +0.89 |
| MDV Modiv Industrial Inc. | Add +141.2% | 1.37% | +0.75 |
| OKE Oneok Inc. | Add +30.4% | 2.53% | +0.71 |
| RGLD Royal Gold Inc. | Add +26.4% | 2.41% | +0.59 |
| REXR Rexford Industrial Realty Inc. | Add +219.0% | 0.65% | +0.38 |
| EPD Enterprise Products Partners | Add +9.0% | 3.15% | +0.37 |
| PRSU Pursuit Attractions and Hosp | New | 0.32% | +0.32 |
| KMI Kinder Morgan Inc. | Add +14.0% | 1.75% | +0.30 |
| SOLS Solstice Adv Materials Inc. | Add +36.1% | 0.63% | +0.30 |
| MUSA Murphy USA Inc. | Add +15.5% | 1.24% | +0.27 |
| HON Honeywell International Inc. | Add +5.0% | 2.74% | +0.24 |
| TYG Tortoise Energy Infrastruct | Add +8.1% | 2.60% | +0.21 |
| QCOM Qualcomm Inc. | Add +77.0% | 0.79% | +0.11 |
| NE Noble Corp. PLC | New | 0.11% | +0.11 |
| CE Celanese Corp. | New | 0.11% | +0.11 |
| KNF Knife River Corp. | Add +15.4% | 1.39% | +0.10 |
| CP Canadian Pacific Kansas City | Add +11.9% | 1.31% | +0.08 |
| NPK National Presto Inds Inc. | Add +17.1% | 0.26% | +0.07 |
| WPC WP Carey Inc. | Add +8.3% | 1.55% | +0.07 |
| TRMB Trimble Inc. | Add +50.4% | 0.64% | +0.06 |
| OC Owens Corning | Add +49.5% | 0.21% | +0.04 |
| FVR Frontview REIT Inc. | Add +22.5% | 0.29% | +0.04 |
| PSX Phillips 66 | Add +1.2% | 0.19% | +0.03 |
| SKYH SKY Harbour Group Corp. | Add +2.9% | 1.46% | +0.02 |
| FERG Ferguson Enterprises Inc. | Add +11.2% | 0.42% | +0.02 |
| ALTG Alta Equipment Group Inc. | Add +0.4% | 0.26% | +0.00 |
| EXP Eagle Materials Inc. | Add +23.7% | 2.91% | −0.01 |
| AAPL Apple Inc. | Add +13.2% | 0.21% | −0.01 |
| UMH Umh Properties Inc. | Add +8.8% | 0.18% | −0.02 |
| VLTO Veralto Corp. | Add +10.5% | 0.17% | −0.03 |
| MELI MercadoLibre Inc. | Add +22.4% | 0.34% | −0.03 |
| CRESY Cresud S.A.-Spons ADR | Add +1.9% | 0.35% | −0.04 |
| SJT San Juan Basin Royalty TR | Add +3.5% | 0.14% | −0.04 |
| GOOG Alphabet Inc. Class C | Add +1.3% | 0.23% | −0.04 |
| LAMR Lamar Advertising Co. Class A | Add +0.6% | 0.43% | −0.05 |
| AMRZ Amrize Ltd. | Add +2.1% | 0.48% | −0.05 |
| PAG Penske Automotive Group Inc. | Add +8.5% | 0.74% | −0.08 |
| FRPH FRP Holdings Inc. | Add +3.8% | 0.84% | −0.10 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.5% | 7.36% | −1.35 |
Options Activity Q4 2025 → Q1 2026
| NEM Newmont Corp. | call | Reduce -57.1% | 900 | $103K |
| DIN Dine Brands Global Inc. | call | Reduce -20.0% | 2,000 | $51K |
| CE Celanese Corp. | call | New | 400 | $26K |
| SFM Sprouts Farmers Market Inc. | call | Sold out | 300 | $24Kbefore exit |
| QCOM Qualcomm Inc. | call | New | 100 | $13K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2025 → Q1 2026
| SKYH.WS Yellowstone Acquisit A -CW25 | *W EXP 01/25/202 | Reduce -40.1% | 18,250 | $14K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages 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 |