Mentor Capital is a micro-cap holding company focused on acquiring energy assets, primarily royalty interests in oil and gas properties. Its core asset consists of three fractional, non-operating royalty interests covering approximately 121 wells in the Spraberry Field of the Permian Basin in West Texas, acquired for ~$1.4M. As a royalty interest holder, Mentor Capital receives a proportional share of production revenues without bearing any operating or development costs — those fall on the working interest owners who operate the wells. Mentor's fractional interests range from roughly 0.05% to 0.16% depending on the property, and royalty income is subject to severance and ad valorem taxes but no production costs. Beyond royalty interests, Mentor Capital holds gold, short-term Treasury ETFs, minority equity stakes in NYSE-listed energy companies, and a small position in NeuCourt, a dispute resolution technology startup. The company also holds a ~$2.5M judgment receivable from a failed cannabis equipment leasing arrangement, which has been fully impaired on the balance sheet but could provide capital if recovered. Mentor Capital's broader strategy is to grow its energy asset base through opportunistic acquisitions in oil, gas, coal, and uranium, funding new deals through royalty income, asset sales, and warrant exercises. The company sold its 51% stake in Waste Consolidators in late 2023 for $6M, which funded the 2025 royalty acquisitions. With only two full-time employees, Mentor Capital operates as a passive investment holding company rather than a traditional operating business.