Mountain Lake Investment Management LLC

SAN FRANCISCO, CA · CIK 1308555 · 13F filing filed 2026-08-14

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

Others nearbySan Francisco, CA

$160.6m reported value +3.7% vs Q1 2026

31positions

70.2%in top 10

4 new 13 added 9 reduced 2 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	SPROTT PHYSICAL GOLD TR UNIT PHYS	PHYS	456,819	$13.8m8.58%	8.58%	Added +6.5k	+6,475 1.4%
2	BUILDERS FIRSTSOURCE INC COM BLDR	BLDR	147,867	$13.2m8.24%	8.24%	Added +43.2k	+43,226 41.3%
3	ETFS GOLD TR PHYSCL GOLD SHS SGOL	SGOL	324,355	$12.4m7.72%	7.72%	Reduced -563	-563 -0.2%
4	MOLINA HEALTHCARE INC COM MOH	MOH	53,394	$12.2m7.60%	7.60%	Added +2.8k	+2,776 5.5%
5	ALLISON TRANSMISSION HLDGS I COM ALSN	ALSN	106,541	$12.0m7.48%	7.48%	Reduced -5.3k	-5,262 -4.7%
6	D R HORTON INC COM DHI	DHI	68,606	$11.2m6.96%	6.96%	Added +3.0k	+3,016 4.6%
7	AUTONATION INC COM AN	AN	58,257	$10.8m6.74%	6.74%	Added +1.8k	+1,812 3.2%
8	VIPER ENERGY INC CL A VNOM	VNOM	252,304	$10.7m6.66%	6.66%	Reduced -3.8k	-3,835 -1.5%
9	NATURAL RESOURCE PARTNERS L COM UNIT LTD PAR NRP	NRP	85,464	$8.3m5.16%	5.16%	Added +8.8k	+8,791 11.5%
10	RANGE RES CORP COM RRC	RRC	218,523	$8.1m5.06%	5.06%	Added +4.0k	+4,008 1.9%
11	TRIPLE FLAG PRECIOUS METAL COM TFPM	TFPM	189,488	$5.7m3.54%	3.54%	Added +99.3k	+99,285 110.1%
12	NOBLE CORP PLC ORD SHS A NE	NE	149,036	$5.6m3.46%	3.46%	Reduced -58.8k	-58,759 -28.3%
13	CAL MAINE FOODS INC COM NEW CALM	CALM	68,685	$5.5m3.45%	3.45%	Added +51.2k	+51,180 292.4%
14	UNITED STS BRENT OIL FD LP UNIT BNO	BNO	96,318	$3.9m2.44%	2.44%	New
15	HELMERICH & PAYNE INC COM HP	HP	118,197	$3.9m2.41%	2.41%	Unchanged
16	ANTERO RESOURCES CORP COM AR	AR	100,137	$3.5m2.19%	2.19%	Added +945	+945 0.9%
17	OPENLANE INC COM OPLN	OPLN	79,537	$3.3m2.04%	2.04%	Unchanged
18	UBER TECHNOLOGIES INC COM UBER	UBER	32,098	$2.3m1.44%	1.44%	New
19	ENERGY TRANSFER L P COM UT LTD PTN ET	ET	96,190	$1.8m1.15%	1.15%	Reduced -3.1k	-3,095 -3.1%
20	PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN PAA	PAA	81,960	$1.8m1.14%	1.14%	Reduced -4.3k	-4,277 -5.0%
21	COMPASS MINERALS INTL INC COM CMP	CMP	55,756	$1.7m1.08%	1.08%	Added +120	+120 0.2%
22	SEADRILL LTD COM SDRL	SDRL	36,555	$1.4m0.86%	0.86%	Reduced -15.3k	-15,257 -29.4%
23	INSTEEL INDS INC COM IIIN	IIIN	44,260	$1.3m0.83%	0.83%	New
24	SPROTT PHYSICAL SILVER TR TR UNIT PSLV	PSLV	67,321	$1.3m0.79%	0.79%	Added +447	+447 0.7%
25	DAVITA INC COM DVA	DVA	5,312	$1.2m0.74%	0.74%	Reduced -1.8k	-1,841 -25.7%
26	WORTHINGTON STL INC COM SHS WS	WS	34,427	$1.2m0.72%	0.72%	Added +26.9k	+26,927 359.0%
27	SALLY BEAUTY HLDGS INC COM SBH	SBH	63,552	$898.6k0.56%	0.56%	New
28	AMPLIFY ETF TR AMPLIFY JUNIOR S SILJ	SILJ	29,320	$760.0k0.47%	0.47%	Reduced -930	-930 -3.1%
29	ALPHABET INC CAP STK CL A GOOGL	GOOGL	750	$268.0k0.17%	0.17%	Unchanged
30	SCHLUMBERGER LTD COM STK SLB	SLB	5,425	$252.2k0.16%	0.16%	Unchanged
31	ALAMOS GOLD INC NEW COM CL A AGI	AGI	8,000	$242.7k0.15%	0.15%	Unchanged

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
FEDERAL AGRIC MTG CORP AGM	AGM	42,844	$6.4m42.8k shares
VALARIS LTD VAL	VAL	8,270	$810.8k8.3k shares