Filed: 8/14/2025ACC: 0001754960-25-000610
📋 What this filing means
MOUNTAIN LAKE INVESTMENT MANAGEMENT LLC filed this quarterly 13F‑HR report disclosing 27 equity positions with a total reported market value of $120.17M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
27
Positions
$120.17M
Total AUM (reported)
3.14M
Total Shares
Allocation by class
COM$62.79M52.3%
PHYSCL GOLD SHS$16.27M13.5%
UNIT$12.44M10.3%
CLASS A COM$7.94M6.6%
ORD SHS A$5.50M4.6%
COM UNIT LTD PAR$3.59M3.0%
COM NEW$2.92M2.4%
Portfolio Concentration
Top 3$39.13M32.6%
4–10$52.72M43.9%
11–25$27.20M22.6%
Rest$1.11M0.9%
Top 3 weight
32.6%
Top 10 weight
76.4%
Voting Authority Distribution
Total shares with voting rights: 3.14M
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
3.14M
shares
% of voting shares100.0%
Investment Discretion (by position count)
Sole27
Shared0
Other0
Dominant voting typeNone · 100.0% of voting shares
Institutional Holdings27
Rows:
ETFS GOLD TR
SOLEShares515.93K
TypeSH
Market value$16.27M
13.54%
Sole
0.00
Shared
0.00
None
515.93K
SPROTT PHYSICAL GOLD TR
SOLEShares490.59K
TypeSH
Market value$12.44M
10.35%
Sole
0.00
Shared
0.00
None
490.59K
AUTONATION INC
SOLEShares52.46K
TypeSH
Market value$10.42M
8.67%
Sole
0.00
Shared
0.00
None
52.46K
D R HORTON INC
SOLEShares73.79K
TypeSH
Market value$9.51M
7.92%
Sole
0.00
Shared
0.00
None
73.79K
BUILDERS FIRSTSOURCE INC
SOLEShares81.14K
TypeSH
Market value$9.47M
7.88%
Sole
0.00
Shared
0.00
None
81.14K
ALLEGIANT TRAVEL CO
SOLEShares147.70K
TypeSH
Market value$8.12M
6.75%
Sole
0.00
Shared
0.00
None
147.70K
SITIO ROYALTIES CORP
SOLEShares431.75K
TypeSH
Market value$7.94M
6.60%
Sole
0.00
Shared
0.00
None
431.75K
SEADRILL LTD
SOLEShares240.96K
TypeSH
Market value$6.33M
5.26%
Sole
0.00
Shared
0.00
None
240.96K
EOG RES INC
SOLEShares49.03K
TypeSH
Market value$5.87M
4.88%
Sole
0.00
Shared
0.00
None
49.03K
NOBLE CORP PLC
SOLEShares207.12K
TypeSH
Market value$5.50M
4.58%
Sole
0.00
Shared
0.00
None
207.12K
NATURAL RESOURCE PARTNERS L
SOLEShares37.55K
TypeSH
Market value$3.59M
2.98%
Sole
0.00
Shared
0.00
None
37.55K
ANTERO RESOURCES CORP
SOLEShares80.72K
TypeSH
Market value$3.25M
2.71%
Sole
0.00
Shared
0.00
None
80.72K
PRECISION DRILLING CORP
SOLEShares61.71K
TypeSH
Market value$2.92M
2.43%
Sole
0.00
Shared
0.00
None
61.71K
ENERGY TRANSFER L P
SOLEShares115.62K
TypeSH
Market value$2.10M
1.74%
Sole
0.00
Shared
0.00
None
115.62K
TRIPLE FLAG PRECIOUS METAL
SOLEShares77.98K
TypeSH
Market value$1.85M
1.54%
Sole
0.00
Shared
0.00
None
77.98K
FRP HLDGS INC
SOLEShares66.80K
TypeSH
Market value$1.80M
1.49%
Sole
0.00
Shared
0.00
None
66.80K
ABRDN PLATINUM ETF TRUST
SOLEShares13.96K
TypeSH
Market value$1.72M
1.43%
Sole
0.00
Shared
0.00
None
13.96K
BANK OZK LITTLE ROCK ARK
SOLEShares35.03K
TypeSH
Market value$1.65M
1.37%
Sole
0.00
Shared
0.00
None
35.03K
PLAINS ALL AMERN PIPELINE L
SOLEShares88.28K
TypeSH
Market value$1.62M
1.35%
Sole
0.00
Shared
0.00
None
88.28K
OPENLANE INC
SOLEShares65.04K
TypeSH
Market value$1.59M
1.32%
Sole
0.00
Shared
0.00
None
65.04K
VALARIS LTD
SOLEShares33.92K
TypeSH
Market value$1.43M
1.19%
Sole
0.00
Shared
0.00
None
33.92K
CORE NATURAL RESOURCES INC
SOLEShares15.77K
TypeSH
Market value$1.10M
0.91%
Sole
0.00
Shared
0.00
None
15.77K
ALLISON TRANSMISSION HLDGS I
SOLEShares9.71K
TypeSH
Market value$922.6K
0.77%
Sole
0.00
Shared
0.00
None
9.71K
ST JOE CO
SOLEShares18.71K
TypeSH
Market value$892.4K
0.74%
Sole
0.00
Shared
0.00
None
18.71K
PEABODY ENERGY CORP
SOLEShares59.34K
TypeSH
Market value$796.4K
0.66%
Sole
0.00
Shared
0.00
None
59.34K
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
ETFS GOLD TRSOLE | PHYSCL GOLD SHS | 515.93K | SH | $16.27M 13.54% | 0.00 | 0.00 | 515.93K |
SPROTT PHYSICAL GOLD TRSOLE | UNIT | 490.59K | SH | $12.44M 10.35% | 0.00 | 0.00 | 490.59K |
AUTONATION INCSOLE | COM | 52.46K | SH | $10.42M 8.67% | 0.00 | 0.00 | 52.46K |
D R HORTON INCSOLE | COM | 73.79K | SH | $9.51M 7.92% | 0.00 | 0.00 | 73.79K |
BUILDERS FIRSTSOURCE INCSOLE | COM | 81.14K | SH | $9.47M 7.88% | 0.00 | 0.00 | 81.14K |
ALLEGIANT TRAVEL COSOLE | COM | 147.70K | SH | $8.12M 6.75% | 0.00 | 0.00 | 147.70K |
SITIO ROYALTIES CORPSOLE | CLASS A COM | 431.75K | SH | $7.94M 6.60% | 0.00 | 0.00 | 431.75K |
SEADRILL LTDSOLE | COM | 240.96K | SH | $6.33M 5.26% | 0.00 | 0.00 | 240.96K |
EOG RES INCSOLE | COM | 49.03K | SH | $5.87M 4.88% | 0.00 | 0.00 | 49.03K |
NOBLE CORP PLCSOLE | ORD SHS A | 207.12K | SH | $5.50M 4.58% | 0.00 | 0.00 | 207.12K |
NATURAL RESOURCE PARTNERS LSOLE | COM UNIT LTD PAR | 37.55K | SH | $3.59M 2.98% | 0.00 | 0.00 | 37.55K |
ANTERO RESOURCES CORPSOLE | COM | 80.72K | SH | $3.25M 2.71% | 0.00 | 0.00 | 80.72K |
PRECISION DRILLING CORPSOLE | COM NEW | 61.71K | SH | $2.92M 2.43% | 0.00 | 0.00 | 61.71K |
ENERGY TRANSFER L PSOLE | COM UT LTD PTN | 115.62K | SH | $2.10M 1.74% | 0.00 | 0.00 | 115.62K |
TRIPLE FLAG PRECIOUS METALSOLE | COM | 77.98K | SH | $1.85M 1.54% | 0.00 | 0.00 | 77.98K |
FRP HLDGS INCSOLE | COM | 66.80K | SH | $1.80M 1.49% | 0.00 | 0.00 | 66.80K |
ABRDN PLATINUM ETF TRUSTSOLE | PHYSCL PLATM SHS | 13.96K | SH | $1.72M 1.43% | 0.00 | 0.00 | 13.96K |
BANK OZK LITTLE ROCK ARKSOLE | COM | 35.03K | SH | $1.65M 1.37% | 0.00 | 0.00 | 35.03K |
PLAINS ALL AMERN PIPELINE LSOLE | UNIT LTD PARTN | 88.28K | SH | $1.62M 1.35% | 0.00 | 0.00 | 88.28K |
OPENLANE INCSOLE | COM | 65.04K | SH | $1.59M 1.32% | 0.00 | 0.00 | 65.04K |
VALARIS LTDSOLE | CL A | 33.92K | SH | $1.43M 1.19% | 0.00 | 0.00 | 33.92K |
CORE NATURAL RESOURCES INCSOLE | COM SHS | 15.77K | SH | $1.10M 0.91% | 0.00 | 0.00 | 15.77K |
ALLISON TRANSMISSION HLDGS ISOLE | COM | 9.71K | SH | $922.6K 0.77% | 0.00 | 0.00 | 9.71K |
ST JOE COSOLE | COM | 18.71K | SH | $892.4K 0.74% | 0.00 | 0.00 | 18.71K |
PEABODY ENERGY CORPSOLE | COM | 59.34K | SH | $796.4K 0.66% | 0.00 | 0.00 | 59.34K |
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