Old West Investment Management, LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Old West Investment Management, LLC reported 102 stock positions worth $560.2 million. Its top holding was Bruker (BRKR) at 5.8% of the portfolio, followed by Canadian Natural Resources (CNQ, 4.6%) and Lockheed Martin (LMT, 4.6%). Compared with Q3 2025, it opened 21 new positions, sold out of 5, added to 50 and reduced 11. The biggest buy was Albemarle (ALB, shares +154%) and the biggest sale an exit from Calavo Growers (CVGW).

Most Recent 13F
Q2 2026
Location
Los Angeles, CA
CIK
0001549358
Portfolio Value
$560.2M (Q4 2025)
SEC Filing
0001941040-26-000164 ↗ filed Feb 17, 2026

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $197.8M Q1 2024 Q2 2024: $226.7M Q2 2024 Q3 2024: $258.6M Q3 2024 Q4 2024: $246.8M Q4 2024 Q1 2025: $277.2M Q1 2025 Q2 2025: $303.3M Q2 2025 Q3 2025: $436.0M Q3 2025 Q4 2025: $560.2M $560.2M Q4 2025 Q1 2026: $922.6M Q1 2026 Q2 2026: $944.2M Q2 2026

Holdings 102 stocks · $560.2M
BRKR Bruker Corp. 5.76% 684,770 $32.3M Add +19.4%
CNQ Canadian Natural Resources 4.64% 768,396 $26.0M Add +51.1%
LMT Lockheed Martin Corp. 4.63% 53,665 $26.0M Add +38.3%
NXE Nexgen Energy Ltd. 4.46% 2,717,795 $25.0M Add +2.6%
TMQ Trilogy Metals Inc. 3.60% 4,679,087 $20.2M Reduce -61.5%
ALB Albemarle Corp. 3.46% 137,152 $19.4M Add +154.2%
AGI Alamos Gold Inc. Class A 3.33% 483,702 $18.7M Add +2.7%
CCJ Cameco Corp. 3.30% 202,247 $18.5M Reduce -3.0%
AEM Agnico Eagle Mines Ltd. 3.24% 107,152 $18.2M Add +4.0%
GSM Ferroglobe PLC 3.15% 3,798,781 $17.6M Add +17.3%
BG Bunge Global SA 2.95% 185,400 $16.5M Reduce -1.3%
OII Oceaneering Intl Inc. 2.33% 543,271 $13.1M Add +128.2%
ASML ASML Holding NV-NY Reg SHS 2.31% 12,074 $12.9M Add +12.7%
BLDR Builders Firstsource Inc. 2.26% 123,015 $12.7M Add +94.3%
VIRT Virtu Financial Inc. Class A 2.21% 371,697 $12.4M Add +6.0%
AA Alcoa Corp. 2.21% 232,578 $12.4M Add +963.7%
TMC TMC the Metals Co. Inc. 2.05% 1,862,348 $11.5M Reduce -6.8%
ELAN Elanco Animal Health Inc. 2.02% 499,348 $11.3M Add +10.4%
SSNC Ss&c Technologies Holdings 1.97% 125,983 $11.0M Add +8.2%
OMEX Odyssey Marine Exploration 1.92% 5,496,448 $10.8M Add +49.5%
NOK Nokia Corp.-Spon ADR 1.84% 1,591,571 $10.3M Add +115.6%
BRK.B Berkshire Hathaway Inc. Class B 1.83% 20,447 $10.3M Add +9.1%
CNR Core Natural Resources Inc. 1.78% 112,745 $10.0M Add +7.9%
GMED Globus Medical Inc. Class A 1.58% 101,517 $8.9M Add +2.4%
UHAL U-Haul Holding Co. 1.38% 153,350 $7.7M Add +0.4%
HCC Warrior Met Coal Inc. 1.26% 79,862 $7.0M Add +0.5%
AR Antero Resources Corp. 1.25% 203,985 $7.0M New
VRT Vertiv Holdings Co. Class A 1.23% 42,393 $6.9M Add +10.3%
WFRD Weatherford International PL 1.21% 86,776 $6.8M Add +33.9%
FCX Freeport-McMoran Inc. 1.12% 123,106 $6.3M Add +45.1%
SU Suncor Energy Inc. 1.05% 132,973 $5.9M Add +96.7%
AMR Alpha Metallurgical Resource 1.03% 28,903 $5.8M Add +1.9%
ALLE Allegion PLC 1.01% 35,362 $5.6M Add +25.4%
EWBC East West Bancorp Inc. 0.96% 47,795 $5.4M No change
KW Kennedy-Wilson Holdings Inc. 0.86% 500,000 $4.8M Reduce -43.0%
TDW Tidewater Inc. 0.71% 78,950 $4.0M Add +19.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.70% 71,334 $3.9M No change
PBF PBF Energy Inc. Class A 0.68% 140,690 $3.8M No change
VAL Valaris Ltd. 0.68% 75,148 $3.8M Add +1.6%
ET Energy Transfer LP 0.64% 219,080 $3.6M New
LAC Lithium Americas Corp. 0.63% 807,391 $3.5M Reduce -39.7%
AAPL Apple Inc. 0.62% 12,835 $3.5M Reduce -0.6%
ALM Almonty Industries Inc. 0.56% 356,146 $3.1M No change
MUR Murphy Oil Corp. 0.56% 100,000 $3.1M No change
CDRE Cadre Holdings Inc. 0.54% 73,821 $3.0M Reduce -2.6%
ILMN Illumina Inc. 0.54% 22,950 $3.0M New
KEYS Keysight Technologies Inc. 0.54% 14,775 $3.0M Add +159.2%
IPGP Ipg Photonics Corp. 0.49% 38,512 $2.8M Add +84.8%
AME Ametek Inc. 0.48% 12,970 $2.7M New
MKSI MKS Inc. 0.47% 16,350 $2.6M Add +3.2%
CAT Caterpillar Inc. 0.46% 4,458 $2.6M No change
LHX L3HARRIS Technologies Inc. 0.44% 8,415 $2.5M Add +136.4%
AMAT Applied Materials Inc. 0.42% 9,200 $2.4M No change
A Agilent Technologies Inc. 0.41% 16,925 $2.3M New
V Visa Inc. Class A 0.41% 6,510 $2.3M New
NE Noble Corp. PLC 0.41% 80,354 $2.3M Add +2.4%
GNE Genie Energy Ltd. Class B 0.40% 160,600 $2.2M No change
GLNG Golar LNG Ltd. 0.39% 59,252 $2.2M Add +29.8%
TDY Teledyne Technologies Inc. 0.39% 4,260 $2.2M Add +145.5%
VECO Veeco Instruments Inc. 0.36% 71,428 $2.0M Add +5.6%
SLB SLB Ltd. filed as SLB LIMITED 0.36% 52,862 $2.0M New
DNN Denison Mines Corp. 0.34% 715,979 $1.9M Add +1.3%
COHR Coherent Corp. 0.33% 10,000 $1.8M No change
ACLS Axcelis Technologies Inc. 0.26% 18,064 $1.5M Add +11.0%
ATI Ati Inc. 0.26% 12,555 $1.4M New
TMO Thermo Fisher Scientific Inc. 0.23% 2,180 $1.3M No change
VALE Vale SA-SP ADR 0.21% 92,080 $1.2M New
MP MP Materials Corp. 0.21% 23,589 $1.2M No change
RIO Rio Tinto PLC-Spon ADR 0.20% 14,210 $1.1M New
HL Hecla Mining Co. 0.19% 55,710 $1.1M Reduce -2.3%
RAL Ralliant Corp. 0.18% 19,967 $1.0M New
NOC Northrop Grumman Corp. 0.18% 1,780 $1.0M No change
LIN Linde PLC 0.18% 2,320 $989K New
CTS CTS Corp. 0.17% 22,442 $962K New
PBR Petroleo Brasileiro-Spon ADR 0.17% 78,040 $925K New
MTRN Materion Corp. 0.16% 7,275 $904K Add +4.5%
CC The Chemours Co. 0.16% 76,653 $904K Add +220.5%
KBR KBR Inc. 0.16% 21,802 $876K Add +212.9%
NOV Nov Inc. 0.15% 55,333 $865K New
ERO Ero Copper Corp. 0.15% 29,144 $824K Add +19.7%
WFC Wells Fargo & Co. 0.13% 8,037 $749K No change
FLR Fluor Corp. 0.13% 18,119 $718K Add +12.3%
ERII Energy Recovery Inc. 0.12% 49,944 $674K Add +14.6%
CLB Core Laboratories Inc. 0.11% 38,223 $613K New
AMTM Amentum Holdings Inc. 0.10% 19,355 $561K New
HXL Hexcel Corp. 0.08% 6,317 $467K Add +10.7%
SAIC Science Applications Inte 0.08% 4,595 $463K New
GOOG Alphabet Inc. Class C 0.08% 1,405 $441K Add +0.4%
GOOGL Alphabet Inc. Class A 0.08% 1,400 $438K No change
ATKR Atkore Inc. 0.08% 6,791 $430K New
WM Waste Management Inc. 0.08% 1,952 $429K No change
GLD SPDR Gold Shares 0.07% 1,000 $396K No change
RIG Transocean Ltd. 0.07% 95,000 $392K No change
BA The Boeing Co. 0.06% 1,596 $347K Reduce -10.7%
LOW Lowe's Cos Inc. 0.06% 1,334 $322K No change
POWI Power Integrations Inc. 0.06% 8,985 $319K New
F Ford Motor Co. filed as FORD MTR CO 0.05% 22,660 $297K No change
LEU Centrus Energy Corp. Class A 0.05% 1,209 $293K Reduce -58.4%
RTX RTX Corp. 0.05% 1,559 $286K No change
INTC Intel Corp. 0.04% 6,695 $247K Add +4.0%

Show all 102 holdings

Portfolio Sells Q3 2025 → Q4 2025
CVGW Calavo Growers Inc. Sold out 0.00% −2.57
TMQ Trilogy Metals Inc. Reduce -61.5% 3.60% −2.26
LAC Lithium Americas Corp. Reduce -39.7% 0.63% −1.13
SGML Sigma Lithium Corp. Sold out 0.00% −0.96
TMC TMC the Metals Co. Inc. Reduce -6.8% 2.05% −0.87
KW Kennedy-Wilson Holdings Inc. Reduce -43.0% 0.86% −0.81
FLG Flagstar Bank NA Sold out 0.00% −0.72
CCJ Cameco Corp. Reduce -3.0% 3.30% −0.71
BG Bunge Global SA Reduce -1.3% 2.95% −0.55
GTLS Chart Industries Inc. Sold out 0.00% −0.26
LEU Centrus Energy Corp. Class A Reduce -58.4% 0.05% −0.15
AAPL Apple Inc. Reduce -0.6% 0.62% −0.13
LGO Largo Inc. Sold out 0.00% −0.13
CDRE Cadre Holdings Inc. Reduce -2.6% 0.54% −0.10
BA The Boeing Co. Reduce -10.7% 0.06% −0.03
HL Hecla Mining Co. Reduce -2.3% 0.19% +0.03

Portfolio Buys Q3 2025 → Q4 2025
ALB Albemarle Corp. Add +154.2% 3.46% +2.46
AA Alcoa Corp. Add +963.7% 2.21% +2.04
BRKR Bruker Corp. Add +19.4% 5.76% +1.49
AR Antero Resources Corp. New 1.25% +1.25
NOK Nokia Corp.-Spon ADR Add +115.6% 1.84% +1.02
OII Oceaneering Intl Inc. Add +128.2% 2.33% +0.98
CNQ Canadian Natural Resources Add +51.1% 4.64% +0.92
ET Energy Transfer LP New 0.64% +0.64
ILMN Illumina Inc. New 0.54% +0.54
BLDR Builders Firstsource Inc. Add +94.3% 2.26% +0.50
AME Ametek Inc. New 0.48% +0.48
A Agilent Technologies Inc. New 0.41% +0.41
V Visa Inc. Class A New 0.41% +0.41
SU Suncor Energy Inc. Add +96.7% 1.05% +0.40
SLB SLB Ltd. New 0.36% +0.36
FCX Freeport-McMoran Inc. Add +45.1% 1.12% +0.35
KEYS Keysight Technologies Inc. Add +159.2% 0.54% +0.31
GMED Globus Medical Inc. Class A Add +2.4% 1.58% +0.28
OMEX Odyssey Marine Exploration Add +49.5% 1.92% +0.28
ATI Ati Inc. New 0.26% +0.26
VALE Vale SA-SP ADR New 0.21% +0.21
RIO Rio Tinto PLC-Spon ADR New 0.20% +0.20
WFRD Weatherford International PL Add +33.9% 1.21% +0.20
LHX L3HARRIS Technologies Inc. Add +136.4% 0.44% +0.19
LMT Lockheed Martin Corp. Add +38.3% 4.63% +0.19
RAL Ralliant Corp. New 0.18% +0.18
LIN Linde PLC New 0.18% +0.18
CTS CTS Corp. New 0.17% +0.17
PBR Petroleo Brasileiro-Spon ADR New 0.17% +0.17
TDY Teledyne Technologies Inc. Add +145.5% 0.39% +0.16
NOV Nov Inc. New 0.15% +0.15
IPGP Ipg Photonics Corp. Add +84.8% 0.49% +0.11
CLB Core Laboratories Inc. New 0.11% +0.11
AMTM Amentum Holdings Inc. New 0.10% +0.10
HCC Warrior Met Coal Inc. Add +0.5% 1.26% +0.10
SAIC Science Applications Inte New 0.08% +0.08
KBR KBR Inc. Add +212.9% 0.16% +0.08
ATKR Atkore Inc. New 0.08% +0.08
CC The Chemours Co. Add +220.5% 0.16% +0.07
POWI Power Integrations Inc. New 0.06% +0.06
ERO Ero Copper Corp. Add +19.7% 0.15% +0.03
LAR Lithium Argentina AG New 0.03% +0.03
MKSI MKS Inc. Add +3.2% 0.47% +0.02
URG Ur-Energy Inc. Add +100.0% 0.01% +0.00
HXL Hexcel Corp. Add +10.7% 0.08% +0.00
GOOG Alphabet Inc. Class C Add +0.4% 0.08% +0.00
INTC Intel Corp. Add +4.0% 0.04% −0.01
FLR Fluor Corp. Add +12.3% 0.13% −0.03
GLNG Golar LNG Ltd. Add +29.8% 0.39% −0.03
MTRN Materion Corp. Add +4.5% 0.16% −0.03

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 124$944.2MBRKR, OII, TDW, LMT, ILMN
Q1 2026 123$922.6MTDW, CNR, LMT, NTR, CNQ
Q4 2025 102$560.2MBRKR, CNQ, LMT, NXE, TMQ
Q3 2025 86$436.0MTMQ, NXE, LMT, BRKR, CCJ
Q2 2025 62$303.3MNXE, CCJ, VIRT, TMQ, AGI
Q1 2025 59$277.2MTMQ, AGI, VIRT, GSM, BG
Q4 2024 55$246.8MVIRT, CCJ, LMT, AGI, CNQ
Q3 2024Amended 58$258.6MVIRT, LMT, GSM, CCJ, B
Q2 2024 58$226.7MLMNR, VIRT, ENVX, CCJ, BG
Q1 2024 53$197.8MB, LMNR, VIRT, SMRT, BG