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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
+9.96%
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
$134M
AUM Growth
+$14.1M
Cap. Flow
+$1.16M
Cap. Flow %
0.86%
Top 10 Hldgs %
74.17%
Holding
32
New
5
Increased
7
Reduced
13
Closed
6

Top Buys

Rank Stock Value
1
VNOM icon
Viper Energy
VNOM
+$9.82M
2
ALSN icon
Allison Transmission
ALSN
+$8.02M
3
CNC icon
Centene
CNC
+$2.52M
4
HP icon
Helmerich & Payne
HP
+$2.51M
5
CI icon
Cigna
CI
+$1.52M

Top Sells

Rank Stock Value
1
STR
Sitio Royalties
STR
+$7.94M
2
PDS
Precision Drilling
PDS
+$2.92M
3
SDRL icon
Seadrill
SDRL
+$2.91M
4
DHI icon
D.R. Horton
DHI
+$1.93M
5
SGOL icon
abrdn Physical Gold Shares ETF
SGOL
+$1.88M

Sector Composition

Rank Sector Weight
1 Energy 33.62%
2 Consumer Discretionary 22.96%
3 Industrials 13.1%
4 Healthcare 3.32%
5 Materials 1.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SGOL icon
1
abrdn Physical Gold Shares ETF
SGOL
$7.41B
$16.9M 12.59%
459,101
-56,832
-11% -$1.88M
PHYS icon
2
Sprott Physical Gold
PHYS
$15.7B
$13.7M 10.19%
462,140
-28,453
-6% -$755K
AN icon
3
AutoNation
AN
$6.92B
$10.7M 7.93%
48,684
-3,774
-7% -$795K
DHI icon
4
D.R. Horton
DHI
$42.3B
$10.4M 7.76%
61,503
-12,287
-17% -$1.93M
VNOM icon
5
Viper Energy
VNOM
$14.7B
$9.85M 7.34%
+257,808
New +$9.82M
BLDR icon
6
Builders FirstSource
BLDR
$8.04B
$9.28M 6.91%
76,562
-4,583
-6% -$608K
ALSN icon
7
Allison Transmission
ALSN
$9.82B
$8.47M 6.31%
99,823
+90,110
+928% +$8.02M
ALGT icon
8
Allegiant Air
ALGT
$2.57B
$8.31M 6.19%
136,702
-11,000
-7% -$631K
NE icon
9
Noble Corp
NE
$6.51B
$6.42M 4.78%
226,853
+19,730
+10% +$559K
EOG icon
10
EOG Resources
EOG
$70.7B
$5.6M 4.17%
49,988
+953
+2% +$114K
NRP icon
11
Natural Resource Partners
NRP
$1.42B
$4.79M 3.57%
45,622
+8,072
+21% +$822K
SDRL icon
12
Seadrill
SDRL
$2.7B
$4.39M 3.27%
145,436
-95,524
-40% -$2.91M
AR icon
13
Antero Resources
AR
$10.7B
$3.41M 2.54%
101,608
+20,888
+26% +$696K
HP icon
14
Helmerich & Payne
HP
$3.71B
$3.01M 2.24%
+136,393
New +$2.51M
CNC icon
15
Centene
CNC
$32.5B
$2.98M 2.22%
+83,402
New +$2.52M
TFPM icon
16
Triple Flag Precious Metals
TFPM
$6.72B
$2.18M 1.62%
74,516
-3,463
-4% -$89.5K
PPLT
17
abrdn Physical Platinum Shares ETF
PPLT
$2.04B
$1.92M 1.43%
134,400
-5,200
-4% -$65.8K
ET icon
18
Energy Transfer Partners
ET
$69.3B
$1.88M 1.4%
109,774
-5,843
-5% -$102K
PSLV icon
19
Sprott Physical Silver Trust
PSLV
$13.2B
$1.57M 1.17%
99,908
+36,432
+57% +$487K
VAL icon
20
Valaris
VAL
$5.47B
$1.56M 1.16%
31,974
-1,951
-6% -$95.2K
PAA icon
21
Plains All American Pipeline
PAA
$16.1B
$1.51M 1.12%
88,281
– –
CI icon
22
Cigna
CI
$74.6B
$1.48M 1.1%
+5,144
New +$1.52M
CNR
23
Core Natural Resources Inc
CNR
$4.45B
$1.47M 1.1%
17,643
+1,877
+12% +$141K
OPLN
24
Openlane
OPLN
$4.54B
$1.28M 0.95%
44,493
-20,543
-32% -$560K
BTU icon
25
Peabody Energy
BTU
$2.9B
$913K 0.68%
34,420
-24,925
-42% -$444K
1
2

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Mountain Lake Investment Management's Q3 2025 Portfolio in Review

As of Q3 2025, Mountain Lake Investment Management held 32 positions worth $134M, up 12% from $120M the previous quarter. Its ten largest holdings account for 74% of the portfolio.

Mountain Lake Investment Management's Q3 2025 filing shows 5 new, 7 increased, 13 reduced and 6 closed positions. Its largest new stake was Viper Energy: 257,808 shares worth $9.85M. The largest sale was Sitio Royalties, an estimated $7.94M.

By sector, the portfolio is most concentrated in Energy at 34% of assets, down from 35% a quarter earlier, followed by Consumer Discretionary and Industrials.

  • Mountain Lake Investment Management's largest Q3 2025 buy was Viper Energy: 257,808 shares worth $9.85M.
  • Mountain Lake Investment Management added most to Allison Transmission in Q3 2025, an estimated $8.02M increase.
  • Mountain Lake Investment Management's biggest Q3 2025 reduction was Seadrill, cutting an estimated $2.91M.
  • Mountain Lake Investment Management fully exited Sitio Royalties in Q3 2025, selling an estimated $7.94M.
  • Mountain Lake Investment Management's ten largest holdings make up 74% of its $134M portfolio in Q3 2025.
  • Mountain Lake Investment Management opened 5 new positions and closed 6 in Q3 2025.
  • Mountain Lake Investment Management's portfolio value rose 12% quarter-over-quarter to $134M.

Based on Mountain Lake Investment Management's 13F filing for Q3 2025, filed 14 Nov 2025.