Mountaineer Partners Management, LLC Diversified Active

CIK: 0001730532 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 13, 2026

Total Value ($000): $178,725 (100.0% shares, 0.0% debt)

Holdings (17)

New Positions (3)

SXT SENSIENT TECHNOLOGIES CORP 6.2%

Value ($000) $11,001 Shares 117,090 Est. Cost $94.35 Unrealized 0.0%

ULCC FRONTIER GROUP HLDGS INC 2.5%

Value ($000) $4,490 Shares 953,375 Est. Cost $4.43 Unrealized 0.0%

CCJ CAMECO CORP 2.2%

Value ($000) $3,881 Shares 42,424 Est. Cost $89.94 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SXT	SENSIENT TECHNOLOGIES CORP	117,090	$11,001	6.2%	$94.35	0.0%	COM	81725T100
ULCC	FRONTIER GROUP HLDGS INC	953,375	$4,490	2.5%	$4.43	0.0%	COM	35909R108
CCJ	CAMECO CORP	42,424	$3,881	2.2%	$89.94	0.0%	COM	13321L108

Increased Positions (5)

DHI D R HORTON INC 5.2%

Value ($000) $9,363 (+98.2%) Shares 65,004 (+133.2%) Est. Cost $153.99 Unrealized -1.3%

KEX KIRBY CORP 5.4%

Value ($000) $9,635 (+76.5%) Shares 87,444 (+33.6%) Est. Cost $104.09 Unrealized -2.3%

SARO STANDARDAERO INC 5.9%

Value ($000) $10,540 (+32.8%) Shares 367,498 (+26.4%) Est. Cost $27.88 Unrealized -2.3%

BLDR BUILDERS FIRSTSOURCE INC 5.4%

Value ($000) $9,681 (+31.4%) Shares 94,091 (+54.9%) Est. Cost $144.18 Unrealized -22.1%

SJT SAN JUAN BASIN RTY TR 2.3%

Value ($000) $4,116 (-5.2%) Shares 732,351 (+1.8%) Est. Cost $5.27 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
DHI	D R HORTON INC	65,004 (+133.2%)	$9,363 (+98.2%)	5.2%	$153.99	-1.3%	COM	23331A109
KEX	KIRBY CORP	87,444 (+33.6%)	$9,635 (+76.5%)	5.4%	$104.09	-2.3%	COM	497266106
SARO	STANDARDAERO INC	367,498 (+26.4%)	$10,540 (+32.8%)	5.9%	$27.88	-2.3%	COM	85423L103
BLDR	BUILDERS FIRSTSOURCE INC	94,091 (+54.9%)	$9,681 (+31.4%)	5.4%	$144.18	-22.1%	COM	12008R107
SJT	SAN JUAN BASIN RTY TR	732,351 (+1.8%)	$4,116 (-5.2%)	2.3%	$5.27	—	UNIT BEN INT	798241105

Exited Positions (4)

ECG EVERUS CONSTR GROUP 8.1%

Value ($000) $14,564 Shares 169,844 Est. Cost $60.35 Unrealized +48.2%

ENTG ENTEGRIS INC 6.4%

Value ($000) $11,394 Shares 123,234 Est. Cost $90.07 Unrealized -3.7%

VSH VISHAY INTERTECHNOLOGY INC 6.4%

Value ($000) $11,355 Shares 742,177 Est. Cost $17.39 Unrealized -13.3%

UEC URANIUM ENERGY CORP 2.4%

Value ($000) $4,282 Shares 320,952 Est. Cost $10.01 Unrealized +31.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ECG	EVERUS CONSTR GROUP	169,844	$14,564	8.1%	$60.35	+48.2%	—	300426103
ENTG	ENTEGRIS INC	123,234	$11,394	6.4%	$90.07	-3.7%	—	29362U104
VSH	VISHAY INTERTECHNOLOGY INC	742,177	$11,355	6.4%	$17.39	-13.3%	—	928298108
UEC	URANIUM ENERGY CORP	320,952	$4,282	2.4%	$10.01	+31.2%	—	916896103

Decreased Positions (9)

CENX CENTURY ALUM CO 13.3%

Value ($000) $23,840 (+22.8%) Shares 608,475 (-8.0%) Est. Cost $9.34 Unrealized +234.5%

AA ALCOA CORP 7.2%

Value ($000) $12,860 (+31.8%) Shares 241,994 (-18.4%) Est. Cost $40.27 Unrealized +1.5%

ATI ATI INC 8.3%

Value ($000) $14,794 (+26.3%) Shares 128,909 (-10.5%) Est. Cost $48.58 Unrealized +100.6%

FCX FREEPORT-MCMORAN INC 7.6%

Value ($000) $13,527 (+17.3%) Shares 266,327 (-9.4%) Est. Cost $36.15 Unrealized +19.8%

CRS CARPENTER TECHNOLOGY CORP 6.5%

Value ($000) $11,551 (+15.2%) Shares 36,690 (-10.2%) Est. Cost $218.27 Unrealized +37.7%

HBM HUDBAY MINERALS INC 8.7%

Value ($000) $15,627 (+7.9%) Shares 787,247 (-17.6%) Est. Cost $5.63 Unrealized +200.2%

CSTM CONSTELLIUM SE 7.2%

Value ($000) $12,846 (+3.5%) Shares 681,464 (-18.3%) Est. Cost $12.99 Unrealized +27.8%

AMBP ARDAGH METAL PACKAGING S A 3.4%

Value ($000) $6,025 (-1.9%) Shares 1,469,480 (-4.5%) Est. Cost $3.31 Unrealized +14.6%

NXE NEXGEN ENERGY LTD 2.8%

Value ($000) $4,950 (-2.0%) Shares 538,042 (-4.7%) Est. Cost $4.88 Unrealized +81.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CENX	CENTURY ALUM CO	608,475 (-8.0%)	$23,840 (+22.8%)	13.3%	$9.34	+234.5%	COM	156431108
AA	ALCOA CORP	241,994 (-18.4%)	$12,860 (+31.8%)	7.2%	$40.27	+1.5%	COM	013872106
ATI	ATI INC	128,909 (-10.5%)	$14,794 (+26.3%)	8.3%	$48.58	+100.6%	COM	01741R102
FCX	FREEPORT-MCMORAN INC	266,327 (-9.4%)	$13,527 (+17.3%)	7.6%	$36.15	+19.8%	CL B	35671D857
CRS	CARPENTER TECHNOLOGY CORP	36,690 (-10.2%)	$11,551 (+15.2%)	6.5%	$218.27	+37.7%	COM	144285103
HBM	HUDBAY MINERALS INC	787,247 (-17.6%)	$15,627 (+7.9%)	8.7%	$5.63	+200.2%	COM	443628102
CSTM	CONSTELLIUM SE	681,464 (-18.3%)	$12,846 (+3.5%)	7.2%	$12.99	+27.8%	CL A SHS	F21107101
AMBP	ARDAGH METAL PACKAGING S A	1,469,480 (-4.5%)	$6,025 (-1.9%)	3.4%	$3.31	+14.6%	SHS	L02235106
NXE	NEXGEN ENERGY LTD	538,042 (-4.7%)	$4,950 (-2.0%)	2.8%	$4.88	+81.1%	COM	65340P106