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Asset Manager ← All Institutions

Mountain Lake Investment Management LLC

Q3 2025 · Filed 2025-11-14
Market Value
$130M
+22.6%
Holdings
30
-2
New Purchases
5
Added To
7
Closed
5
Reduced
12
Top 10 Concentration
76.7%
Turnover
33.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VNOM 7.59% 0.00% +7.59% $10M
ALSN 6.52% 0.87% +5.65% $8M
HP 2.32% 0.00% +2.32% $3M
CNC 2.29% 0.00% +2.29% $3M
CI 1.14% 0.00% +1.14% $1M
PSLV 1.21% 0.73% +0.47% $2M
NRP 3.69% 3.39% +0.30% $5M
WES 0.25% 0.00% +0.25% $329K
CNR 1.13% 1.04% +0.10% $1M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
PDS 0.00% 2.75% -2.75% $0
SGOL 13.01% 15.36% -2.35% $17M
BLDR 7.15% 8.94% -1.79% $9M
FRPH 0.00% 1.70% -1.70% $0
AN 8.20% 9.84% -1.64% $11M
OZK 0.00% 1.56% -1.56% $0
ALGT 6.40% 7.66% -1.27% $8M
EOG 4.32% 5.54% -1.22% $6M
PHYS 10.54% 11.74% -1.20% $14M
DHI 8.02% 8.98% -0.96% $10M
JOE 0.00% 0.84% -0.84% $0
ET 1.45% 1.98% -0.53% $2M
OPLN 0.99% 1.50% -0.52% $1M
AR 2.63% 3.07% -0.44% $3M
PAA 1.16% 1.53% -0.37% $2M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 11 $53M 40.6%
Mid Cap 14 $64M 49.3%
Small Cap 5 $13M 10.1%

Portfolio Analytics

Avg Market Cap
$15.7B
Median Market Cap
$8.0B
Avg P/E
37.6
Median P/E
14.0
Avg Dividend Yield
0.02%
Avg Beta
0.70
# Stocks
26
# ETFs / Funds
4

Top Holdings (30 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 SGOL 13.01% 459,101 $17M $36.81 $627K -56,832 -11.0%
2 PHYS 10.54% 462,140 $14M $29.62 $1M -28,453 -5.8%
3 AN 8.20% 48,684 $11M $218.77 $230K -3,774 -7.2%
4 DHI 8.02% 61,503 $10M $169.47 $910K -12,287 -16.6%
5 VNOM 7.59% 257,808 $10M $38.22 +257,808 NEW
6 BLDR 7.15% 76,562 $9M $121.25 -$186K -4,583 -5.7%
7 ALSN 6.52% 99,823 $8M $84.88 $8M +90,110 +927.7%
8 ALGT 6.40% 136,702 $8M $60.77 $191K -11,000 -7.5%
9 NE 4.94% 226,853 $6M $28.28 $916K +19,730 +9.5%
10 EOG 4.32% 49,988 $6M $112.12 -$260K +953 +1.9%
11 NRP 3.69% 45,622 $5M $105.00 $1M +8,072 +21.5%
12 AR 2.63% 101,608 $3M $33.56 $159K +20,888 +25.9%
13 HP 2.32% 136,393 $3M $22.09 +136,393 NEW
14 CNC 2.29% 83,402 $3M $35.68 +83,402 NEW
15 TFPM.TO 1.68% 74,516 $2M $29.26 $333K -3,463 -4.4%
16 PPLT 1.48% 13,440 $2M $142.88 $205K -520 -3.7%
17 ET 1.45% 109,774 $2M $17.16 -$212K -5,843 -5.0%
18 PSLV 1.21% 99,908 $2M $15.70 $792K +36,432 +57.4%
19 VAL 1.20% 31,974 $2M $48.77 $131K -1,951 -5.8%
20 PAA 1.16% 88,281 $2M $17.06 -$111K
21 CI 1.14% 5,144 $1M $288.25 +5,144 NEW
22 CNR 1.13% 17,643 $1M $83.48 $373K +1,877 +11.9%
23 OPLN 0.99% 44,493 $1M $28.78 -$310K -20,543 -31.6%
24 BTU 0.70% 34,420 $913K $26.52 $116K -24,925 -42.0%
25 WES 0.25% 8,363 $329K $39.29 +8,363 NEW
26 FRPH —% -$2M -66,799 -100.0% SOLD
27 ALCO —% -$335K -10,236 -100.0% SOLD
28 OZK —% -$2M -35,026 -100.0% SOLD
29 JOE —% -$892K -18,708 -100.0% SOLD
30 PDS —% -$3M -61,712 -100.0% SOLD

New Positions

SymbolValue% Port
VNOM $10M 7.59%
HP $3M 2.32%
CNC $3M 2.29%
CI $1M 1.14%
WES $329K 0.25%

Sold Out Positions

SymbolValue% Port
JOE —%
PDS —%
FRPH —%
ALCO —%
OZK —%
View SEC EDGAR Filings for Mountain Lake Investment Management LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms