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MLIM

Mountain Lake Investment Management Portfolio holdings

AUM $155M
1-Year Est. Return 38.76%
This Fund
S&P 500
This Quarter Est. Return
+2.84%
1 Year Est. Return
+38.76%
3 Year Est. Return
+79.46%
5 Year Est. Return
+200.68%
10 Year Est. Return
+519.62%
AUM
$231M
AUM Growth
+$25.9M
Cap. Flow
-$31.1M
Cap. Flow %
-13.45%
Top 10 Hldgs %
80.63%
Holding
31
New
2
Increased
5
Reduced
18
Closed
2

Top Buys

Rank Stock Value
1
VWTR
Vidler Water Resouces, Inc. Common Stock
VWTR
+$1.48M
2
CALM icon
Cal-Maine
CALM
+$891K
3
NOV icon
NOV
NOV
+$540K
4
SGOL icon
abrdn Physical Gold Shares ETF
SGOL
+$344K
5
SA
Seabridge Gold
SA
+$260K

Top Sells

Rank Stock Value
1
AM icon
Antero Midstream
AM
+$7.08M
2
VSTO
Vista Outdoor Inc.
VSTO
+$5.5M
3
CCJ icon
Cameco
CCJ
+$3.69M
4
CNR
Core Natural Resources Inc
CNR
+$2.71M
5
EQT icon
EQT Corp
EQT
+$2.23M

Sector Composition

Rank Sector Weight
1 Energy 36.69%
2 Materials 10.17%
3 Industrials 9.2%
4 Technology 6%
5 Real Estate 0.56%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$810B
$79.4M 34.38%
50,000
– –
AR icon
2
Antero Resources
AR
$10.7B
$14.3M 6.18%
758,250
+15,000
+2% +$219K
VSAT icon
3
Viasat
VSAT
$11.1B
$13.8M 6%
251,500
-33,500
-12% -$1.71M
EOG icon
4
EOG Resources
EOG
$70.7B
$13.2M 5.74%
165,000
– –
ALGT icon
5
Allegiant Air
ALGT
$2.57B
$12.4M 5.38%
63,500
-1,500
-2% -$288K
PDS
6
Precision Drilling
PDS
$974M
$12.3M 5.33%
304,750
-8,000
-3% -$276K
CNR
7
Core Natural Resources Inc
CNR
$4.45B
$11.9M 5.17%
459,000
-123,000
-21% -$2.71M
NOV icon
8
NOV
NOV
$7B
$11.1M 4.83%
850,000
+40,000
+5% +$540K
TPL icon
9
Texas Pacific Land
TPL
$23.5B
$10.3M 4.45%
76,500
-9,000
-11% -$1.4M
NXE icon
10
NexGen Energy
NXE
$6.99B
$7.33M 3.18%
1,550,000
+25,000
+2% +$110K
NEM icon
11
Newmont
NEM
$119B
$6.25M 2.7%
115,000
-10,000
-8% -$590K
B
12
Barrick Mining
B
$73.2B
$5.87M 2.54%
325,000
-25,000
-7% -$502K
VSTO
13
DELISTED
Vista Outdoor Inc.
VSTO
$4.88M 2.11%
121,000
-133,500
-52% -$5.5M
SA
14
Seabridge Gold
SA
$3.35B
$4.56M 1.97%
295,000
+15,000
+5% +$260K
BBCP icon
15
Concrete Pumping Holdings
BBCP
$491M
$3.96M 1.71%
463,500
-36,500
-7% -$307K
SIRE
16
DELISTED
Sisecam Resources LP
SIRE
$2.59M 1.12%
163,000
-15,000
-8% -$202K
ARLP icon
17
Alliance Resource Partners
ARLP
$3.17B
$2.5M 1.08%
229,500
-165,500
-42% -$1.38M
PHYS icon
18
Sprott Physical Gold
PHYS
$15.7B
$2.42M 1.05%
175,000
– –
MLM icon
19
Martin Marietta Materials
MLM
$33B
$1.71M 0.74%
5,000
-3,500
-41% -$1.27M
VSAT icon
20
CALL
Viasat
VSAT
$11.1B
$1.46M 0.63%
26,500
– –
CCJ icon
21
Cameco
CCJ
$42.4B
$1.41M 0.61%
65,000
-195,000
-75% -$3.69M
VWTR
22
DELISTED
Vidler Water Resouces, Inc. Common Stock
VWTR
$1.29M 0.56%
+113,000
New +$1.48M
AAAU icon
23
Goldman Sachs Physical Gold ETF Shares
AAAU
$2.64B
$1.22M 0.53%
70,000
-5,000
-7% -$89K
OR icon
24
OR Royalties Inc
OR
$6.2B
$1.01M 0.44%
90,000
-10,000
-10% -$125K
SGOL icon
25
abrdn Physical Gold Shares ETF
SGOL
$7.41B
$927K 0.4%
55,000
+20,000
+57% +$344K
1
2

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Mountain Lake Investment Management's Q3 2021 Portfolio in Review

As of Q3 2021, Mountain Lake Investment Management held 31 positions worth $231M, up 13% from $205M the previous quarter. Its ten largest holdings account for 81% of the portfolio.

Mountain Lake Investment Management withdrew a net $31.1M in Q3 2021, closing 2 positions and reducing 18 holdings. Its most notable exit was EQT Corp, an estimated $2.23M position sold in full.

By sector, the portfolio is most concentrated in Energy at 37% of assets, down from 49% a quarter earlier, followed by Materials and Industrials.

Against the trend, Mountain Lake Investment Management opened a new position in Vidler Water Resouces, Inc. Common Stock worth $1.29M.

  • Mountain Lake Investment Management's largest Q3 2021 buy was Vidler Water Resouces, Inc. Common Stock: 113,000 shares worth $1.29M.
  • Mountain Lake Investment Management added most to NOV in Q3 2021, an estimated $540K increase.
  • Mountain Lake Investment Management's biggest Q3 2021 reduction was Antero Midstream, cutting an estimated $7.08M.
  • Mountain Lake Investment Management fully exited EQT Corp in Q3 2021, selling an estimated $2.23M.
  • Mountain Lake Investment Management's ten largest holdings make up 81% of its $231M portfolio in Q3 2021.
  • Mountain Lake Investment Management opened 2 new positions and closed 2 in Q3 2021.
  • Mountain Lake Investment Management's portfolio value rose 13% quarter-over-quarter to $231M.

Based on Mountain Lake Investment Management's 13F filing for Q3 2021, filed 15 Nov 2021.