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Mountain Lake Investment Management LLC

Momentum followerSector-focusedQuality / disciplined sizing

Total reported value

$154.8M

Reporting period: 2026-03-31 · Number of holdings: 29

Mountain Lake Investment Management LLC disclosed 29 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $154.8M and a quarterly turnover rate of 46.0%.

Personality snowflake

Concentration
25.05
Portfolio Stability
46.03
Momentum/Contrarian
100
Sector conviction
99.05
Diversification
58
Sizing Uniformity
90.81

Recent moves

  • Trim SGOL

    -10.4%　-$402.7K

  • Trim SDRL

    -59.4%　-$2.1M

  • Add NE

    -10.2%　$3.7M

  • Trim PHYS

    -0.2%　$1.1M

  • Trim BLDR

    +24.7%　-$21.9K

  • Trim PSLV

    -36.5%　-$861.1K

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#TickerIssuerAsset SubclassWeightWeight ChangeShares Change4Q Trend
1PHYSSprott Physical Gold TrustStock-Other10.31%-1.01%-0.19%
2SGOLAbrdn Physical Gold SharesETF-Commodities9.37%-1.95%-10.42%
3ALSNAllison Transmission HoldingStock-Consumer Disc8.45%+0.28%+1.83%
4VNOMViper Energy Inc-cl AStock-Energy7.77%+0.39%+1.82%
5ANAutonation INCStock-Consumer Disc7.12%-0.26%+20.01%
6NENoble Corporation plcStock-Energy6.59%+1.62%-10.24%
7RRCRange Resources CORPStock-Energy6.26%+6.26%NEW
8NRPNatural Resource Partners LPStock-Other5.99%+0.81%+17.36%
9DHIDr Horton INCStock-Consumer Disc5.81%-0.74%+9.59%
10BLDRBuilders Firstsource INCStock-Industrials5.57%-0.99%+24.66%
11MOHMolina Healthcare INCStock-Healthcare4.36%+4.36%NEW
12AGMFederal Agric Mtg Corp-cl CStock-Other4.11%+4.11%NEW
13HPHelmerich & PayneStock-Energy2.75%+0.17%—
14ARAntero Resources CORPStock-Energy2.72%+0.12%—
15TFPMTriple Flag Precious MetStock-Materials2.02%+0.18%+24.06%
16SDRLSeadrill LimitedStock-Other1.52%-1.83%-59.35%
17OPLNOpenlane INCStock-Other1.50%+0.41%+65.58%
18PAAPlains All Amer Pipeline LPStock-Energy1.24%+0.06%—
19ETEnergy Transfer LPStock-Energy1.24%——
20PSLVSprott Physical Silver TrustStock-Other1.05%-0.84%-36.54%
21CALMCal-maine Foods INCStock-Consumer Staples0.89%+0.90%NEW
22CMPCompass Minerals InternationStock-Other0.84%+0.48%+132.74%
23DVADavita INCStock-Healthcare0.71%-0.03%-16.31%
24SILJAmplify Junior Silver MinersETF-Commodities0.58%+0.58%NEW
25VALValaris LimitedStock-Energy0.52%-0.67%-73.49%
26AGIAlamos Gold Inc-class AStock-Materials0.23%+0.23%NEW
27SLBSlb LTDStock-Energy0.18%+0.18%NEW
28WSWorthington Steel INCStock-Other0.15%+0.15%NEW
29GOOGLAlphabet Inc-cl AStock-Comm Services0.14%+0.14%NEW

Holding changes this quarter

Mountain Lake Investment Management LLC's most significant position changes for 2026-03-31: Sold out: Allegiant Travel Co (ALGT); New buy: Range Resources CORP (RRC); New buy: Molina Healthcare INC (MOH); New buy: Federal Agric Mtg Corp-cl C (AGM); Sold out: Eog Resources INC (EOG).

Position changes disclosed by Mountain Lake Investment Management LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#TickerIssuerWeight ChangeShares ChangeAction
1NENoble Corporation plc+1.6%-10.24%Trim
2NRPNatural Resource Partners LP+0.8%+17.36%Add
3CMPCompass Minerals Internation+0.5%+132.74%Add
4OPLNOpenlane INC+0.4%+65.58%Add
5VNOMViper Energy Inc-cl A+0.4%+1.82%Add
6ALSNAllison Transmission Holding+0.3%+1.83%Add
7TFPMTriple Flag Precious Met+0.2%+24.06%Add
8HPHelmerich & Payne+0.2%—Unchanged
9ARAntero Resources CORP+0.1%—Unchanged
10PAAPlains All Amer Pipeline LP+0.1%—Unchanged
11ETEnergy Transfer LP——Unchanged
12DVADavita INC0%-16.31%Trim
13ANAutonation INC-0.3%+20.01%Add
14VALValaris Limited-0.7%-73.49%Trim
15DHIDr Horton INC-0.7%+9.59%Add
16PSLVSprott Physical Silver Trust-0.8%-36.54%Trim
17BLDRBuilders Firstsource INC-1%+24.66%Add
18PHYSSprott Physical Gold Trust-1%-0.19%Trim
19SDRLSeadrill Limited-1.8%-59.35%Trim
20SGOLAbrdn Physical Gold Shares-2%-10.42%Trim
21ALGTAllegiant Travel Co—EXITSold out
22RRCRange Resources CORP—NEWNew buy
23MOHMolina Healthcare INC—NEWNew buy
24AGMFederal Agric Mtg Corp-cl C—NEWNew buy
25EOGEog Resources INC—EXITSold out
26PPLTAbrdn Physical Platinum Shrs—EXITSold out
27CALMCal-maine Foods INC—NEWNew buy
28SILJAmplify Junior Silver Miners—NEWNew buy
29AGIAlamos Gold Inc-class A—NEWNew buy
30SLBSlb LTD—NEWNew buy
31WSWorthington Steel INC—NEWNew buy
32GOOGLAlphabet Inc-cl A—NEWNew buy

FAQ

What is Mountain Lake Investment Management LLC and what type of investor is it?
Mountain Lake Investment Management LLC is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $154.8M, spread across 29 disclosed positions.
What are Mountain Lake Investment Management LLC's largest equity positions?
Based on the latest 13F filing, Mountain Lake Investment Management LLC's top holdings by market value are: 1. Sprott Physical Gold Trust (PHYS) — $16.0M (10.3%) 2. Abrdn Physical Gold Shares (SGOL) — $14.5M (9.4%) 3. Allison Transmission Holding (ALSN) — $13.1M (8.4%) 4. Viper Energy Inc-cl A (VNOM) — $12.0M (7.8%) 5. Autonation INC (AN) — $11.0M (7.1%)
What changes did Mountain Lake Investment Management LLC make in its most recent portfolio filing?
In the latest reported quarter, Mountain Lake Investment Management LLC made 28 notable position adjustments: 9 new positions were initiated, 9 existing holdings were added to, 7 positions were partially reduced, and 3 were completely exited. The largest of these moves: Sold out: Allegiant Travel Co (ALGT); New buy: Range Resources CORP (RRC); New buy: Molina Healthcare INC (MOH); New buy: Federal Agric Mtg Corp-cl C (AGM); Sold out: Eog Resources INC (EOG)
What sectors does Mountain Lake Investment Management LLC focus on?
Mountain Lake Investment Management LLC is concentrated in the following sectors based on its current disclosed equity portfolio: • Energy: 45.3% • Consumer Discretionary: 33.1% • Industrials: 8.6% • Health Care: 7.8% • Materials: 3.5% • Consumer Staples: 1.4%