Mountain Lake Investment Management LLC
CIK 1308555 · View on SEC EDGAR ↗
- Portfolio value
- $160.6M
- Positions
- 31
- As of
- June 30, 2026
#7,170 of 9,443 by 13F value · top 75.9%
Portfolio value QoQ: +3.7% 13F does not disclose cash
- Top 10 holdings weight
- 70.22%
- Top 25 holdings weight
- 97.77%
- Positions above 1%
- 21
- Effective number of positions
- 17.5
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 7.17% Est. buys $23,046,638 · sells $11,300,865
Median holding: 2.0 quarters Tracked Q4 2024–Q2 2026 · 50.8% still held
- New positions
- 4
- Increased
- 13
- Decreased
- 9
- Closed
- 2
On this page
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Sector breakdown
Energy
28.2%
Industrials
20.0%
Health Care
8.3%
Retail
7.3%
Consumer products
7.0%
Materials
5.5%
Consumer Staples
3.4%
Communication Services
0.2%
Other/Unmapped
20.0%
Full portfolio 31 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| PHYS | $13,782,229 | 8.58% | 456,819 | $-2,177,962 | Up ×1 | ||
| BLDR Builders FirstSource, Inc. Common Stock | $13,231,139 | 8.24% | 147,867 | $4,616,045 | Up ×3 | ||
| SGOL | $12,400,092 | 7.72% | 324,355 | $-2,097,749 | Down ×5 | ||
| MOH Molina Healthcare Inc Common Stock | $12,211,208 | 7.60% | 53,394 | $5,463,829 | Up ×1 | ||
| ALSN Allison Transmission Holdings, Inc. Common Stock | $12,011,432 | 7.48% | 106,541 | $-1,076,227 | Down ×1 | ||
| DHI D.R. Horton, Inc. Common Stock | $11,174,545 | 6.96% | 68,606 | $2,174,285 | Up ×2 | ||
| AN AutoNation, Inc. Common Stock | $10,823,568 | 6.74% | 58,257 | $-197,883 | Up ×2 | ||
| VNOM Viper Energy, Inc. - Class A Common Stock | $10,697,698 | 6.66% | 252,304 | $-1,338,282 | Down ×1 | ||
| NRP Natural Resource Partners LP Limited Partnership | $8,290,053 | 5.16% | 85,464 | $-987,437 | Up ×6 | ||
| RRC Range Resources Corporation Common Stock | $8,126,870 | 5.06% | 218,523 | $-1,564,918 | Up ×1 | ||
| TFPM Triple Flag Precious Metals Corp. Common Shares | $5,678,955 | 3.54% | 189,488 | $2,548,009 | Up ×2 | ||
| NE Noble Corporation plc A Ordinary Shares | $5,559,036 | 3.46% | 149,036 | $-4,637,456 | Down ×2 | ||
| CALM Cal-Maine Foods, Inc. - Common Stock | $5,533,264 | 3.45% | 68,685 | $4,147,743 | Up ×1 | ||
| BNO | $3,919,179 | 2.44% | 96,318 | Up ×1 | |||
| HP Helmerich & Payne, Inc. Common Stock | $3,869,770 | 2.41% | 118,197 | $-388,868 | |||
| AR Antero Resources Corporation Common Stock | $3,518,814 | 2.19% | 100,137 | $-690,894 | Up ×1 | ||
| OPLN OPENLANE, Inc. Common Stock | $3,280,106 | 2.04% | 79,537 | $961,602 | |||
| UBER Uber Technologies, Inc. Common Stock | $2,316,192 | 1.44% | 32,098 | Up ×1 | |||
| ET Energy Transfer LP Common Units | $1,839,153 | 1.15% | 96,190 | $-77,048 | Down ×1 | ||
| PAA Plains All American Pipeline, L.P. - Common Units representing Limited Partner Interests | $1,824,430 | 1.14% | 81,960 | $-101,242 | Down ×1 | ||
| CMP Compass Minerals Intl Inc Common Stock | $1,735,684 | 1.08% | 55,756 | $436,583 | Up ×2 | ||
| SDRL Seadrill Limited Common Shares | $1,382,510 | 0.86% | 36,555 | $-974,936 | Down ×4 | ||
| IIIN Insteel Industries, Inc. Common Stock | $1,336,652 | 0.83% | 44,260 | Up ×1 | |||
| PSLV | $1,270,347 | 0.79% | 67,321 | $-360,710 | Up ×1 | ||
| DVA DaVita Inc. Common Stock | $1,181,814 | 0.74% | 5,312 | $82,469 | Down ×2 | ||
| WS Worthington Steel, Inc. Common Shares | $1,156,059 | 0.72% | 34,427 | $928,434 | Up ×1 | ||
| SBH Sally Beauty Holdings, Inc. (Name to be changed from Sally Holdings, Inc.) Common Stock | $898,625 | 0.56% | 63,552 | Up ×1 | |||
| SILJ | $759,974 | 0.47% | 29,320 | $-139,056 | Down ×1 | ||
| GOOGL Alphabet Inc. - Class A Common Stock | $268,028 | 0.17% | 750 | $52,358 | |||
| SLB SLB Limited Common Shares | $252,208 | 0.16% | 5,425 | $-26,583 | |||
| AGI Alamos Gold Inc. Class A Common Shares | $242,720 | 0.15% | 8,000 | $-112,720 | |||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
Biggest new bets
New positions opened this quarter, largest first.
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| MOH | Bought more | +3K | +$5.5M |
| NE | Trimmed | -59K | -$4.6M |
| BLDR | Bought more | +43K | +$4.6M |
| CALM | Bought more | +51K | +$4.1M |
| TFPM | Bought more | +99K | +$2.5M |
| PHYS | Bought more | +6K | -$2.2M |
| DHI | Bought more | +3K | +$2.2M |
| SGOL | Trimmed | -563 | -$2.1M |
| RRC | Bought more | +4K | -$1.6M |
| VNOM | Trimmed | -4K | -$1.3M |
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| ALGT | March 31, 2026 | 126,494 | $10,786,143 | -0.4% |
| CAR | June 30, 2025 | 108,185 | $8,211,242 | -13.9% |
| STR | Sept. 30, 2025 | 431,746 | $7,935,496 | No longer tracked |
| AGM | June 30, 2026 | 42,844 | $6,355,907 | 11.3% |
| EOG | March 31, 2026 | 41,348 | $4,341,953 | 5.7% |
| CNC | Dec. 31, 2025 | 83,402 | $2,975,783 | 55.9% |
| PDS | Sept. 30, 2025 | 61,712 | $2,915,274 | 59.7% |
| PPLT | March 31, 2026 | 11,383 | $2,122,133 | No longer tracked |
| HTZ | June 30, 2025 | 509,461 | $2,007,276 | -68.5% |
| NXE | March 31, 2025 | 294,244 | $1,942,010 | 138.5% |
| FRPH | Sept. 30, 2025 | 66,799 | $1,796,225 | -8.9% |
| OZK | Sept. 30, 2025 | 35,026 | $1,648,324 | -2.6% |
| URNJ | March 31, 2025 | 87,493 | $1,625,645 | |
| CI | Dec. 31, 2025 | 5,144 | $1,482,758 | 0.6% |
| CNR | Dec. 31, 2025 | 17,643 | $1,472,838 | 9.0% |
| BTU | Dec. 31, 2025 | 34,420 | $912,818 | -7.2% |
| SYY | June 30, 2025 | 12,099 | $907,909 | 11.0% |
| JOE | Sept. 30, 2025 | 18,708 | $892,372 | 39.2% |
| VAL | June 30, 2026 | 8,270 | $810,791 | 23.6% |
| SII | March 31, 2025 | 18,089 | $762,358 | 188.7% |
| IBIT | March 31, 2025 | 14,000 | $744,700 | |
| OXY | March 31, 2025 | 12,500 | $617,625 | 24.5% |
| URNM | March 31, 2025 | 14,052 | $566,289 | No longer tracked |
| GDX | June 30, 2025 | 11,804 | $542,630 | No longer tracked |
| ALCO | Sept. 30, 2025 | 10,236 | $334,512 | 15.3% |
| WES | Dec. 31, 2025 | 8,363 | $328,582 | 23.0% |
| MTN | June 30, 2025 | 2,000 | $320,040 | -3.4% |
| SA | March 31, 2025 | 27,400 | $312,508 | 186.3% |
| GDXJ | June 30, 2025 | 5,072 | $290,118 | No longer tracked |
| UROY | June 30, 2025 | 20,000 | $35,200 | 76.0% |