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Mountain Lake Investment Management LLC

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13F filer, CIK 1308555, SAN FRANCISCO, CA

Mountain Lake Investment Management LLC reported $106,244,369 across 30 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-15. Its ten largest share positions make up 75.33% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001754960-25-000306

Period
2025-03-31
Reported value
$106M
Holdings
30
Top 10 weight
75.33%
New
8
Sold out
7

Largest buys vs the previous quarter

SecurityShares changeApprox. value
EOGadded+32,711$4.19M
CARadded+40,638$3.08M
ANadded+19,025$3.08M
PHYSadded+114,593$2.76M
SGOLadded+82,107$2.45M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
NXEexited-294,244-$1.94M
URNJexited-87,493-$1.63M
GDXJreduced-23,374-$1.34M
ARreduced-19,682-$796K
SIIexited-18,089-$762K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001754960-25-000306, largest first. % of portfolio is the value over $106,244,369, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
SGOLETFS GOLD TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 575,000 shares; 2024Q4: 447,295 shares; 2025Q1: 529,402 shares 529,402$15.8M14.86%+82,107Timeline
PHYSSPROTT ASSET MANAGEMENT LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 365,000 shares; 2024Q4: 376,000 shares; 2025Q1: 490,593 shares 490,593$11.8M11.11%+114,593Timeline
CARAVIS BUDGET GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 75,000 shares; 2024Q4: 67,547 shares; 2025Q1: 108,185 shares 108,185$8.21M7.73%+40,638Timeline
ANAUTONATION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 31,500 shares; 2024Q4: 30,200 shares; 2025Q1: 49,225 shares 49,225$7.97M7.5%+19,025Timeline
SITIO ROYALTIES CORPSITIO ROYALTIES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 375,000 shares; 2024Q4: 316,578 shares; 2025Q1: 382,796 shares 382,796$7.61M7.16%+66,218
BLDRBUILDERS FIRSTSOURCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 34,000 shares; 2024Q4: 36,367 shares; 2025Q1: 55,284 shares 55,284$6.91M6.5%+18,917Timeline
ALGTALLEGIANT TRAVEL COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 157,000 shares; 2024Q4: 108,000 shares; 2025Q1: 129,939 shares 129,939$6.71M6.32%+21,939Timeline
NENOBLE CORP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 140,000 shares; 2024Q4: 182,859 shares; 2025Q1: 216,657 shares 216,657$5.13M4.83%+33,798Timeline
EOGEOG RES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 6,000 shares; 2025Q1: 38,711 shares 38,711$4.96M4.67%+32,711Timeline
SDRLSEADRILL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 160,000 shares; 2024Q4: 154,700 shares; 2025Q1: 197,639 shares 197,639$4.94M4.65%+42,939Timeline
ARANTERO RESOURCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 162,000 shares; 2024Q4: 138,351 shares; 2025Q1: 118,669 shares 118,669$4.8M4.52%-19,682Timeline
PDSPRECISION DRILLING CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 25,000 shares; 2024Q4: 51,981 shares; 2025Q1: 61,712 shares 61,712$2.88M2.71%+9,731Timeline
NRPNATURAL RESOURCE PARTNERS LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 11,050 shares; 2025Q1: 22,101 shares 22,101$2.3M2.16%+11,051Timeline
HTZHERTZ GLOBAL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 550,000 shares; 2024Q4: 438,000 shares; 2025Q1: 509,461 shares 509,461$2.01M1.89%+71,461Timeline
OPLNOPENLANE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 120,000 shares; 2024Q4: 94,500 shares; 2025Q1: 100,213 shares 100,213$1.93M1.82%+5,713Timeline
BTUPEABODY ENGR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 23,000 shares; 2025Q1: 114,638 shares 114,638$1.55M1.46%+91,638Timeline
OZKBANK OZK LITTLE ROCK ARKQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 35,430 shares 35,430$1.54M1.45%newTimeline
PPLTABRDN PLATINUM ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,000 shares; 2024Q4: 12,000 shares; 2025Q1: 13,960 shares 13,960$1.28M1.2%+1,960Timeline
FRPHFRP HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,000 shares; 2024Q4: 10,000 shares; 2025Q1: 38,749 shares 38,749$1.11M1.04%+28,749Timeline
TFPMTRIPLE FLAG PRECIOUS METALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 48,691 shares 48,691$932K0.88%newTimeline
SYYSYSCO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 12,099 shares 12,099$908K0.85%newTimeline
VALVALARIS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 22,900 shares 22,900$899K0.85%newTimeline
CNRCORE NATURAL RESOURCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 11,500 shares 11,500$887K0.83%newTimeline
JOEST JOE COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 18,708 shares 18,708$878K0.83%newTimeline
ETENERGY TRANSFER L PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 42,049 shares 42,049$782K0.74%newTimeline
GDXVANECK ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 19,000 shares; 2025Q1: 11,804 shares 11,804$543K0.51%-7,196Timeline
PSLVSPROTT ASSET MANAGEMENT LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,000 shares; 2024Q4: 30,000 shares; 2025Q1: 30,000 shares 30,000$348K0.33%0Timeline
MTNVAIL RESORTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 2,000 shares 2,000$320K0.3%newTimeline
GDXJVANECK ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 33,000 shares; 2024Q4: 28,446 shares; 2025Q1: 5,072 shares 5,072$290K0.27%-23,374Timeline
UROYURANIUM RTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 15,000 shares; 2025Q1: 20,000 shares 20,000$35.2K0.03%+5,000Timeline

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
NXENEXGEN ENERGY LTD294,244$1.94Mshares
URNJSPROTT FDS TR87,493$1.63Mshares
SIISPROTT INC18,089$762Kshares
IBITISHARES BITCOIN TRUST ETF14,000$745Kshares
OXYOCCIDENTAL PETE CORP12,500$618Kshares
URNMSPROTT FDS TR14,052$566Kshares
SASEABRIDGE GOLD INC27,400$313Kshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001754960-25-000306 base2025-05-15acceptance time not in the bulk data set