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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 $120,167,580 across 27 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 76.44% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001754960-25-000610

Period
2025-06-30
Reported value
$120M
Holdings
27
Top 10 weight
76.44%
New
4
Sold out
7

Largest buys vs the previous quarter

SecurityShares changeApprox. value
DHInew+73,790$9.51M
BLDRadded+25,861$3.02M
PAAnew+88,281$1.62M
NRPadded+15,449$1.48M
ETadded+73,568$1.33M

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
CARexited-108,185-$8.21M
HTZexited-509,461-$2.01M
ARreduced-37,949-$1.53M
SYYexited-12,099-$908K
OPLNreduced-35,177-$860K

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, Q2 2025

Share positions as resolved from 13F-HR 0001754960-25-000610, largest first. % of portfolio is the value over $120,167,580, 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; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 575,000 shares; 2024Q4: 447,295 shares; 2025Q1: 529,402 shares; 2025Q2: 515,933 shares 515,933$16.3M13.54%-13,469Timeline
PHYSSPROTT ASSET MANAGEMENT LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 365,000 shares; 2024Q4: 376,000 shares; 2025Q1: 490,593 shares; 2025Q2: 490,593 shares 490,593$12.4M10.35%0Timeline
ANAUTONATION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 31,500 shares; 2024Q4: 30,200 shares; 2025Q1: 49,225 shares; 2025Q2: 52,458 shares 52,458$10.4M8.67%+3,233Timeline
DHID R HORTON INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 73,790 shares 73,790$9.51M7.92%newTimeline
BLDRBUILDERS FIRSTSOURCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 34,000 shares; 2024Q4: 36,367 shares; 2025Q1: 55,284 shares; 2025Q2: 81,145 shares 81,145$9.47M7.88%+25,861Timeline
ALGTALLEGIANT TRAVEL COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 157,000 shares; 2024Q4: 108,000 shares; 2025Q1: 129,939 shares; 2025Q2: 147,702 shares 147,702$8.12M6.75%+17,763Timeline
SITIO ROYALTIES CORPSITIO ROYALTIES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 375,000 shares; 2024Q4: 316,578 shares; 2025Q1: 382,796 shares; 2025Q2: 431,746 shares 431,746$7.94M6.6%+48,950
SDRLSEADRILL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 160,000 shares; 2024Q4: 154,700 shares; 2025Q1: 197,639 shares; 2025Q2: 240,960 shares 240,960$6.33M5.26%+43,321Timeline
EOGEOG RES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 6,000 shares; 2025Q1: 38,711 shares; 2025Q2: 49,035 shares 49,035$5.87M4.88%+10,324Timeline
NENOBLE CORP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 140,000 shares; 2024Q4: 182,859 shares; 2025Q1: 216,657 shares; 2025Q2: 207,123 shares 207,123$5.5M4.58%-9,534Timeline
NRPNATURAL RESOURCE PARTNERS LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 11,050 shares; 2025Q1: 22,101 shares; 2025Q2: 37,550 shares 37,550$3.59M2.98%+15,449Timeline
ARANTERO RESOURCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 162,000 shares; 2024Q4: 138,351 shares; 2025Q1: 118,669 shares; 2025Q2: 80,720 shares 80,720$3.25M2.71%-37,949Timeline
PDSPRECISION DRILLING CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 25,000 shares; 2024Q4: 51,981 shares; 2025Q1: 61,712 shares; 2025Q2: 61,712 shares 61,712$2.92M2.43%0Timeline
ETENERGY TRANSFER L PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 42,049 shares; 2025Q2: 115,617 shares 115,617$2.1M1.74%+73,568Timeline
TFPMTRIPLE FLAG PRECIOUS METALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 48,691 shares; 2025Q2: 77,979 shares 77,979$1.85M1.54%+29,288Timeline
FRPHFRP HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,000 shares; 2024Q4: 10,000 shares; 2025Q1: 38,749 shares; 2025Q2: 66,799 shares 66,799$1.8M1.49%+28,050Timeline
PPLTABRDN PLATINUM ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,000 shares; 2024Q4: 12,000 shares; 2025Q1: 13,960 shares; 2025Q2: 13,960 shares 13,960$1.72M1.43%0Timeline
OZKBANK OZK LITTLE ROCK ARKQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 35,430 shares; 2025Q2: 35,026 shares 35,026$1.65M1.37%-404Timeline
PAAPLAINS ALL AMERN PIPELINE LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 88,281 shares 88,281$1.62M1.35%newTimeline
OPLNOPENLANE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 120,000 shares; 2024Q4: 94,500 shares; 2025Q1: 100,213 shares; 2025Q2: 65,036 shares 65,036$1.59M1.32%-35,177Timeline
VALVALARIS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 22,900 shares; 2025Q2: 33,925 shares 33,925$1.43M1.19%+11,025Timeline
CNRCORE NATURAL RESOURCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 11,500 shares; 2025Q2: 15,766 shares 15,766$1.1M0.91%+4,266Timeline
ALSNALLISON TRANSMISSION HLDGS IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 9,713 shares 9,713$923K0.77%newTimeline
JOEST JOE COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 18,708 shares; 2025Q2: 18,708 shares 18,708$892K0.74%0Timeline
BTUPEABODY ENGR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 23,000 shares; 2025Q1: 114,638 shares; 2025Q2: 59,345 shares 59,345$796K0.66%-55,293Timeline
PSLVSPROTT ASSET MANAGEMENT LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,000 shares; 2024Q4: 30,000 shares; 2025Q1: 30,000 shares; 2025Q2: 63,476 shares 63,476$777K0.65%+33,476Timeline
ALCOALICO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 10,236 shares 10,236$335K0.28%newTimeline

Sold out in Q2 2025

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

SecurityShares beforeValue beforeType
CARAVIS BUDGET GROUP INC108,185$8.21Mshares
HTZHERTZ GLOBAL HLDGS INC509,461$2.01Mshares
SYYSYSCO CORP12,099$908Kshares
GDXVANECK ETF TRUST11,804$543Kshares
MTNVAIL RESORTS INC2,000$320Kshares
GDXJVANECK ETF TRUST5,072$290Kshares
UROYURANIUM RTY CORP20,000$35.2Kshares

How Q2 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 0001754960-25-000610 base2025-08-14acceptance time not in the bulk data set