1y return+67.3%S&P 500 +20.9%
3y return+67.9%S&P 500 +68.5%
5y return+103.6%S&P 500 +74.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since December 31, 2018: $375 against $299 in the S&P 500.2
Mountaineer Partners Management, LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| CENXCentury Alum Co | $23.2M | 16.8% | −13.8% |
| SXTSensient Technologies Corp | $16.2M | 11.8% | −15.9% |
| Constellium SeCUSIP F21107101 | $15.4M | 11.2% | −26.8% |
| SAROStandardaero Inc | $13.9M | 10.1% | +14.0% |
| CRSCarpenter Technology Corp | $12.9M | 9.4% | −41.8% |
| ATIAti Inc | $11.9M | 8.7% | −34.2% |
| MIDDMiddleby Corp | $11.6M | 8.5% | New |
| AAAlcoa Corp | $10.9M | 7.9% | −10.9% |
| HMYHarmony Gold Mng Ltd | $9.3M | 6.8% | −8.1% |
| Ardagh Metal Packaging S ACUSIP L02235106 | $8.2M | 5.9% | −8.3% |
| CCJCameco Corp | $4.1M | 3.0% | −5.9% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| CENXCentury Alum Co | December 31, 2022 | +462.5% | $23.2M |
| ATIAti Inc | June 30, 2023 | +345.6% | $11.9M |
| CRSCarpenter Technology Corp | June 30, 2025 | +123.2% | $12.9M |
| Constellium SeCUSIP F21107101 | March 31, 2023 | +108.6% | $15.4M |
| Ardagh Metal Packaging S ACUSIP L02235106 | December 31, 2024 | +57.5% | $8.2M |
| SXTSensient Technologies Corp | December 31, 2025 | +31.2% | $16.2M |
| AAAlcoa Corp | March 31, 2023 | +22.5% | $10.9M |
| CCJCameco Corp | December 31, 2025 | +11.3% | $4.1M |
| HMYHarmony Gold Mng Ltd | March 31, 2026 | −1.0% | $9.3M |
| SAROStandardaero Inc | June 30, 2025 | −5.5% | $13.9M |
Sold off last quarter
- HBMHudbay Minerals Inc was $14.8M
- FCXFreeport Mcmoran Inc was $14.2M
- KEXKirby Corp was $11.8M
- DHID R Horton Inc was $9.1M
- BLDRBuilders Firstsource Inc was $8.1M
- ULCCFrontier Group Hldgs Inc was $3.4M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +12.4% | +14.8% |
| March 31, 2026 | +14.9% | −4.6% |
| December 31, 2025 | +17.2% | +2.4% |
| September 30, 2025 | +10.6% | +7.8% |
| June 30, 2025 | +19.3% | +10.5% |
| March 31, 2025 | −10.6% | −4.6% |
| December 31, 2024 | −10.0% | +2.1% |
| September 30, 2024 | −4.7% | +5.4% |
| June 30, 2024 | −0.6% | +4.0% |
| March 31, 2024 | +8.4% | +10.0% |
| December 31, 2023 | +9.6% | +11.2% |
| September 30, 2023 | −7.2% | −3.6% |
| June 30, 2023 | +9.0% | +8.3% |
| March 31, 2023 | +4.1% | +7.0% |
| December 31, 2022 | +21.2% | +7.1% |
| September 30, 2022 | −2.1% | −5.3% |
| June 30, 2022 | −17.7% | −16.5% |
| March 31, 2022 | +10.0% | −4.9% |
| December 31, 2021 | +5.1% | +10.7% |
| September 30, 2021 | −5.3% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Mountaineer Partners Management, LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1730532&type=13F-HR&dateb=&owner=include&count=40CIK 1730532
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1730532/000091957426005107/Filed August 13, 2026 · accession 0000919574-26-005107