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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
+0.2%
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
$110M
AUM Growth
-$22M
Cap. Flow
-$17.4M
Cap. Flow %
-15.88%
Top 10 Hldgs %
75.61%
Holding
35
New
4
Increased
9
Reduced
4
Closed
12

Top Buys

Rank Stock Value
1
SDRL icon
Seadrill
SDRL
+$6.66M
2
TFPM icon
Triple Flag Precious Metals
TFPM
+$4.26M
3
STR
Sitio Royalties
STR
+$2.59M
4
AR icon
Antero Resources
AR
+$1.19M
5
EQT icon
EQT Corp
EQT
+$802K

Top Sells

Rank Stock Value
1
B
Barrick Mining
B
+$5.76M
2
NOV icon
NOV
NOV
+$5.18M
3
VAL icon
Valaris
VAL
+$3.13M
4
NEM icon
Newmont
NEM
+$2.43M
5
MAS icon
Masco
MAS
+$1.91M

Sector Composition

Rank Sector Weight
1 Energy 55.52%
2 Industrials 18.47%
3 Materials 4.77%
4 Consumer Staples 1.13%
5 Real Estate 0.27%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SGOL icon
1
abrdn Physical Gold Shares ETF
SGOL
$7.41B
$13.5M 12.31%
715,000
– –
ALGT icon
2
Allegiant Air
ALGT
$2.57B
$11M 10.03%
119,500
+1,000
+0.8% +$89.9K
STR
3
DELISTED
Sitio Royalties
STR
$9.7M 8.85%
429,418
+104,418
+32% +$2.59M
PDS
4
Precision Drilling
PDS
$974M
$9.15M 8.35%
178,000
+10,150
+6% +$657K
NE icon
5
Noble Corp
NE
$6.51B
$7.42M 6.77%
188,000
+13,000
+7% +$520K
EQT icon
6
EQT Corp
EQT
$32.3B
$7.18M 6.55%
225,000
+25,000
+13% +$802K
SDRL icon
7
Seadrill
SDRL
$2.7B
$6.83M 6.23%
+170,000
New +$6.66M
NXE icon
8
NexGen Energy
NXE
$6.99B
$6.51M 5.94%
1,700,000
-25,000
-1% -$108K
PHYS icon
9
Sprott Physical Gold
PHYS
$15.7B
$5.91M 5.39%
382,000
– –
VSTO
10
DELISTED
Vista Outdoor Inc.
VSTO
$5.68M 5.18%
205,000
+20,000
+11% +$548K
AR icon
11
Antero Resources
AR
$10.7B
$5.32M 4.86%
230,500
+45,000
+24% +$1.19M
TFPM icon
12
Triple Flag Precious Metals
TFPM
$6.72B
$5.23M 4.77%
350,000
+312,500
+833% +$4.26M
NOV icon
13
NOV
NOV
$7B
$3.98M 3.63%
215,000
-240,000
-53% -$5.18M
EOG icon
14
EOG Resources
EOG
$70.7B
$3.78M 3.45%
33,000
-6,400
-16% -$776K
URNM icon
15
Sprott Uranium Miners ETF
URNM
$2B
$2.26M 2.06%
72,000
– –
SMR icon
16
NuScale Power
SMR
$4.03B
$2.12M 1.93%
233,000
– –
COST icon
17
Costco
COST
$420B
$1.24M 1.13%
2,500
+200
+9% +$98.1K
BBCP icon
18
Concrete Pumping Holdings
BBCP
$491M
$935K 0.85%
137,500
-86,500
-39% -$629K
AAC
19
DELISTED
Ares Acquisition Corporation
AAC
$516K 0.47%
+50,000
New +$511K
DNN icon
20
Denison Mines
DNN
$2.91B
$499K 0.46%
458,000
– –
RIG icon
21
Transocean
RIG
$5.82B
$477K 0.44%
+75,000
New +$482K
JOE icon
22
St. Joe Company
JOE
$3.83B
$291K 0.27%
+7,000
New +$300K
SMR.WS
23
DELISTED
NuScale Power Corporation Warrants, each exercisable for one share of Class A Common Stock at an exercise price of $11.50 per share
SMR.WS
$82.5K 0.08%
50,000
– –
EQT icon
24
CALL
EQT Corp
EQT
$32.3B
– –
-25,000
Closed -$846K
FCX icon
25
Freeport-McMoran
FCX
$97.5B
– –
-12,500
Closed -$475K
1
2

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Mountain Lake Investment Management's Q1 2023 Portfolio in Review

As of Q1 2023, Mountain Lake Investment Management held 35 positions worth $110M, down 17% from $132M the previous quarter. Its ten largest holdings account for 76% of the portfolio.

Mountain Lake Investment Management withdrew a net $17.4M in Q1 2023, closing 12 positions and reducing 4 holdings. Its most notable exit was Barrick Mining, an estimated $5.76M position sold in full.

By sector, the portfolio is most concentrated in Energy at 56% of assets, up from 51% a quarter earlier, followed by Industrials and Materials.

Against the trend, Mountain Lake Investment Management opened a new position in Seadrill worth $6.83M.

  • Mountain Lake Investment Management's largest Q1 2023 buy was Seadrill: 170,000 shares worth $6.83M.
  • Mountain Lake Investment Management added most to Triple Flag Precious Metals in Q1 2023, an estimated $4.26M increase.
  • Mountain Lake Investment Management's biggest Q1 2023 reduction was NOV, cutting an estimated $5.18M.
  • Mountain Lake Investment Management fully exited Barrick Mining in Q1 2023, selling an estimated $5.76M.
  • Mountain Lake Investment Management's ten largest holdings make up 76% of its $110M portfolio in Q1 2023.
  • Mountain Lake Investment Management opened 4 new positions and closed 12 in Q1 2023.
  • Mountain Lake Investment Management's portfolio value fell 17% quarter-over-quarter to $110M.

Based on Mountain Lake Investment Management's 13F filing for Q1 2023, filed 15 May 2023.