Data as of Q4 2025 (Dec 31, 2025)

Mountaineer Partners Management, LLC

•CIK: 1730532•Filing: Q4 2025

Mountaineer Partners Management, LLC manages $179M across a concentrated portfolio of 17 positions. The fund exhibits significant conviction in its top holdings, notably allocating $23.8M to CENX and $15.6M to HBM. Further substantial exposure is maintained in ATD ($14.8M), FCX ($13.5M), and AA ($12.9M). This structure suggests a focused, high-conviction approach across diverse sectors.

Total AUM
$178.7M
QoQ Performance
+3.9%
Positions
17
Top 10 Concentration
76.2%
Latest Filing
Q4 2025

Top Holdings Allocation

CENX
HBM
ATD
FCX
AA
CSTM
CRS
SSF
CENX13.3%
HBM8.7%
ATD8.3%
FCX7.6%
AA7.2%
CSTM7.2%
CRS6.5%
SSF6.2%

📈 Biggest Buys

SSF
SENSIENT TECHNOLOGIES CORP
NEW
6.2% of portfolio
DHI
D R HORTON INC
+133.2%
5.2% of portfolio
ULCC
FRONTIER GROUP HLDGS INC
NEW
2.5% of portfolio
CCO
CAMECO CORP
NEW
2.2% of portfolio
BLDR
BUILDERS FIRSTSOURCE INC
+54.9%
5.4% of portfolio

📉 Biggest Sells

HBM
HUDBAY MINERALS INC
-17.6%
8.7% of portfolio
AA
ALCOA CORP
-18.4%
7.2% of portfolio
CSTM
CONSTELLIUM SE
-18.3%
7.2% of portfolio
CENX
CENTURY ALUM CO
-8.0%
13.3% of portfolio
ATD
ATI INC
-10.5%
8.3% of portfolio

Sector Breakdown

Other92.4%
Materials7.6%

🚪 Exited Positionssold since Q3 2025

ECG
EVERUS CONSTR GROUP
SOLD
$14.6M
ENQ
ENTEGRIS INC
SOLD
$11.4M
VSH
VISHAY INTERTECHNOLOGY INC
SOLD
$11.4M
U6Z
URANIUM ENERGY CORP
SOLD
$4.3M

Changes from Q3 2025

NEW3 new positions
↑5 increased
↓9 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023

📌 Top Holdings

CENX13.3%
CENTURY ALUM CO
$23.8M
HBM8.7%
HUDBAY MINERALS INC
$15.6M
ATD8.3%
ATI INC
$14.8M
FCX7.6%
FREEPORT-MCMORAN INC
$13.5M
AA7.2%
ALCOA CORP
$12.9M

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