Filed: 5/15/2025ACC: 0001754960-25-000306
📋 What this filing means
MOUNTAIN LAKE INVESTMENT MANAGEMENT LLC filed this quarterly 13F‑HR report disclosing 30 equity positions with a total reported market value of $106.24M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
30
Positions
$106.24M
Total AUM (reported)
3.44M
Total Shares
Allocation by class
COM$53.71M50.6%
PHYSCL GOLD SHS$15.79M14.9%
UNIT$11.80M11.1%
CLASS A COM$7.61M7.2%
ORD SHS A$5.13M4.8%
COM NEW$4.88M4.6%
COM UNIT LTD PAR$2.30M2.2%
Portfolio Concentration
Top 3$35.80M33.7%
4–10$44.24M41.6%
11–25$24.67M23.2%
Rest$1.54M1.4%
Top 3 weight
33.7%
Top 10 weight
75.3%
Voting Authority Distribution
Total shares with voting rights: 3.44M
Sole
Full voting authority
0.00
shares
% of voting shares0.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
3.44M
shares
% of voting shares100.0%
Investment Discretion (by position count)
Sole30
Shared0
Other0
Dominant voting typeNone · 100.0% of voting shares
Institutional Holdings30
Rows:
ETFS GOLD TR
SOLEShares529.40K
TypeSH
Market value$15.79M
14.86%
Sole
0.00
Shared
0.00
None
529.40K
SPROTT PHYSICAL GOLD TR
SOLEShares490.59K
TypeSH
Market value$11.80M
11.11%
Sole
0.00
Shared
0.00
None
490.59K
AVIS BUDGET GROUP
SOLEShares108.19K
TypeSH
Market value$8.21M
7.73%
Sole
0.00
Shared
0.00
None
108.19K
AUTONATION INC
SOLEShares49.23K
TypeSH
Market value$7.97M
7.50%
Sole
0.00
Shared
0.00
None
49.23K
SITIO ROYALTIES CORP
SOLEShares382.80K
TypeSH
Market value$7.61M
7.16%
Sole
0.00
Shared
0.00
None
382.80K
BUILDERS FIRSTSOURCE INC
SOLEShares55.28K
TypeSH
Market value$6.91M
6.50%
Sole
0.00
Shared
0.00
None
55.28K
ALLEGIANT TRAVEL CO
SOLEShares129.94K
TypeSH
Market value$6.71M
6.32%
Sole
0.00
Shared
0.00
None
129.94K
NOBLE CORP PLC
SOLEShares216.66K
TypeSH
Market value$5.13M
4.83%
Sole
0.00
Shared
0.00
None
216.66K
EOG RES INC
SOLEShares38.71K
TypeSH
Market value$4.96M
4.67%
Sole
0.00
Shared
0.00
None
38.71K
SEADRILL LTD
SOLEShares197.64K
TypeSH
Market value$4.94M
4.65%
Sole
0.00
Shared
0.00
None
197.64K
ANTERO RESOURCES CORP
SOLEShares118.67K
TypeSH
Market value$4.80M
4.52%
Sole
0.00
Shared
0.00
None
118.67K
PRECISION DRILLING CORP
SOLEShares61.71K
TypeSH
Market value$2.88M
2.71%
Sole
0.00
Shared
0.00
None
61.71K
NATURAL RESOURCE PARTNERS L
SOLEShares22.10K
TypeSH
Market value$2.30M
2.16%
Sole
0.00
Shared
0.00
None
22.10K
HERTZ GLOBAL HLDGS INC
SOLEShares509.46K
TypeSH
Market value$2.01M
1.89%
Sole
0.00
Shared
0.00
None
509.46K
OPENLANE INC
SOLEShares100.21K
TypeSH
Market value$1.93M
1.82%
Sole
0.00
Shared
0.00
None
100.21K
PEABODY ENERGY CORP
SOLEShares114.64K
TypeSH
Market value$1.55M
1.46%
Sole
0.00
Shared
0.00
None
114.64K
BANK OZK LITTLE ROCK ARK
SOLEShares35.43K
TypeSH
Market value$1.54M
1.45%
Sole
0.00
Shared
0.00
None
35.43K
ABRDN PLATINUM ETF TRUST
SOLEShares13.96K
TypeSH
Market value$1.28M
1.20%
Sole
0.00
Shared
0.00
None
13.96K
FRP HLDGS INC
SOLEShares38.75K
TypeSH
Market value$1.11M
1.04%
Sole
0.00
Shared
0.00
None
38.75K
TRIPLE FLAG PRECIOUS METAL
SOLEShares48.69K
TypeSH
Market value$932.4K
0.88%
Sole
0.00
Shared
0.00
None
48.69K
SYSCO CORP
SOLEShares12.10K
TypeSH
Market value$907.9K
0.85%
Sole
0.00
Shared
0.00
None
12.10K
VALARIS LTD
SOLEShares22.90K
TypeSH
Market value$899.1K
0.85%
Sole
0.00
Shared
0.00
None
22.90K
CORE NATURAL RESOURCES INC
SOLEShares11.50K
TypeSH
Market value$886.6K
0.83%
Sole
0.00
Shared
0.00
None
11.50K
ST JOE CO
SOLEShares18.71K
TypeSH
Market value$878.3K
0.83%
Sole
0.00
Shared
0.00
None
18.71K
ENERGY TRANSFER L P
SOLEShares42.05K
TypeSH
Market value$781.7K
0.74%
Sole
0.00
Shared
0.00
None
42.05K
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
ETFS GOLD TRSOLE | PHYSCL GOLD SHS | 529.40K | SH | $15.79M 14.86% | 0.00 | 0.00 | 529.40K |
SPROTT PHYSICAL GOLD TRSOLE | UNIT | 490.59K | SH | $11.80M 11.11% | 0.00 | 0.00 | 490.59K |
AVIS BUDGET GROUPSOLE | COM | 108.19K | SH | $8.21M 7.73% | 0.00 | 0.00 | 108.19K |
AUTONATION INCSOLE | COM | 49.23K | SH | $7.97M 7.50% | 0.00 | 0.00 | 49.23K |
SITIO ROYALTIES CORPSOLE | CLASS A COM | 382.80K | SH | $7.61M 7.16% | 0.00 | 0.00 | 382.80K |
BUILDERS FIRSTSOURCE INCSOLE | COM | 55.28K | SH | $6.91M 6.50% | 0.00 | 0.00 | 55.28K |
ALLEGIANT TRAVEL COSOLE | COM | 129.94K | SH | $6.71M 6.32% | 0.00 | 0.00 | 129.94K |
NOBLE CORP PLCSOLE | ORD SHS A | 216.66K | SH | $5.13M 4.83% | 0.00 | 0.00 | 216.66K |
EOG RES INCSOLE | COM | 38.71K | SH | $4.96M 4.67% | 0.00 | 0.00 | 38.71K |
SEADRILL LTDSOLE | COM | 197.64K | SH | $4.94M 4.65% | 0.00 | 0.00 | 197.64K |
ANTERO RESOURCES CORPSOLE | COM | 118.67K | SH | $4.80M 4.52% | 0.00 | 0.00 | 118.67K |
PRECISION DRILLING CORPSOLE | COM NEW | 61.71K | SH | $2.88M 2.71% | 0.00 | 0.00 | 61.71K |
NATURAL RESOURCE PARTNERS LSOLE | COM UNIT LTD PAR | 22.10K | SH | $2.30M 2.16% | 0.00 | 0.00 | 22.10K |
HERTZ GLOBAL HLDGS INCSOLE | COM NEW | 509.46K | SH | $2.01M 1.89% | 0.00 | 0.00 | 509.46K |
OPENLANE INCSOLE | COM | 100.21K | SH | $1.93M 1.82% | 0.00 | 0.00 | 100.21K |
PEABODY ENERGY CORPSOLE | COM | 114.64K | SH | $1.55M 1.46% | 0.00 | 0.00 | 114.64K |
BANK OZK LITTLE ROCK ARKSOLE | COM | 35.43K | SH | $1.54M 1.45% | 0.00 | 0.00 | 35.43K |
ABRDN PLATINUM ETF TRUSTSOLE | PHYSCL PLATM SHS | 13.96K | SH | $1.28M 1.20% | 0.00 | 0.00 | 13.96K |
FRP HLDGS INCSOLE | COM | 38.75K | SH | $1.11M 1.04% | 0.00 | 0.00 | 38.75K |
TRIPLE FLAG PRECIOUS METALSOLE | COM | 48.69K | SH | $932.4K 0.88% | 0.00 | 0.00 | 48.69K |
SYSCO CORPSOLE | COM | 12.10K | SH | $907.9K 0.85% | 0.00 | 0.00 | 12.10K |
VALARIS LTDSOLE | CL A | 22.90K | SH | $899.1K 0.85% | 0.00 | 0.00 | 22.90K |
CORE NATURAL RESOURCES INCSOLE | COM SHS | 11.50K | SH | $886.6K 0.83% | 0.00 | 0.00 | 11.50K |
ST JOE COSOLE | COM | 18.71K | SH | $878.3K 0.83% | 0.00 | 0.00 | 18.71K |
ENERGY TRANSFER L PSOLE | COM UT LTD PTN | 42.05K | SH | $781.7K 0.74% | 0.00 | 0.00 | 42.05K |
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