Mountain Lake Investment Management LLC Diversified Active

Location: San Francisco, CA

CIK: 0001308555 · Show all filings

Period: Q4 2022 (← Previous) (Next →)

Filing Date: Feb 14, 2023

Total Value: $132M (100.0% shares, 0.0% debt)

Holdings (31)

PDS PRECISION DRILLING CORP 9.8%

Value $12.87M Shares 167,850 Share Price $76.70 * Est. Cost/Share $20.50 Unrealized @ Report Date +251.8%

SGOL ABRDN GOLD ETF TRUST 9.5%

Value $12.49M Shares 715,000 Share Price $17.47 Est. Cost/Share $17.92 Unrealized @ Report Date —

SPY SPDR S&P 500 ETF TR 8.7%

Value $11.47M Shares 30,000 Share Price $382.43 Est. Cost/Share — Unrealized @ Report Date —

NOV NOV INC 7.2%

Value $9.505M Shares 455,000 Share Price $20.89 Est. Cost/Share $14.57 Unrealized @ Report Date +44.0%

— SITIO ROYALTIES CORP 7.1%

Value $9.376M Shares 325,000 Share Price $28.85 Est. Cost/Share $28.85 Unrealized @ Report Date —

ALGT ALLEGIANT TRAVEL CO 6.1%

Value $8.057M Shares 118,500 Share Price $67.99 * Est. Cost/Share $131.77 Unrealized @ Report Date -46.5%

NXE NEXGEN ENERGY LTD 5.8%

Value $7.642M Shares 1,725,000 Share Price $4.43 * Est. Cost/Share $2.63 Unrealized @ Report Date +58.5%

EQT EQT CORP 5.1%

Value $6.766M Shares 200,000 Share Price $33.83 * Est. Cost/Share $22.61 Unrealized @ Report Date +69.2%

NE NOBLE CORP PLC 5.0%

Value $6.599M Shares 175,000 Share Price $37.71 * Est. Cost/Share $31.04 Unrealized @ Report Date 0.0%

— BARRICK GOLD CORP 4.4%

Value $5.755M Shares 335,000 Share Price $17.18 Est. Cost/Share $16.76 Unrealized @ Report Date —

AR ANTERO RESOURCES CORP 4.4%

Value $5.749M Shares 185,500 Share Price $30.99 * Est. Cost/Share $15.87 Unrealized @ Report Date +117.6%

PHYS SPROTT PHYSICAL GOLD TR 4.1%

Value $5.386M Shares 382,000 Share Price $14.10 Est. Cost/Share $14.71 Unrealized @ Report Date —

EOG EOG RES INC 3.9%

Value $5.103M Shares 39,400 Share Price $129.52 * Est. Cost/Share $35.99 Unrealized @ Report Date +227.4%

— VISTA OUTDOOR INC 3.4%

Value $4.508M Shares 185,000 Share Price $24.37 Est. Cost/Share $24.37 Unrealized @ Report Date —

VAL VALARIS LIMITED 2.4%

Value $3.127M Shares 46,250 Share Price $67.62 * Est. Cost/Share $62.39 Unrealized @ Report Date 0.0%

NEM NEWMONT CORP 1.8%

Value $2.431M Shares 51,500 Share Price $47.20 * Est. Cost/Share $38.50 Unrealized @ Report Date +6.0%

SMR NUSCALE PWR CORP 1.8%

Value $2.391M Shares 233,000 Share Price $10.26 * Est. Cost/Share $10.11 Unrealized @ Report Date +9.5%

URNM SPROTT FDS TR 1.7%

Value $2.285M Shares 72,000 Share Price $31.74 Est. Cost/Share $46.72 Unrealized @ Report Date —

MAS MASCO CORP 1.5%

Value $1.913M Shares 41,000 Share Price $46.67 * Est. Cost/Share $47.29 Unrealized @ Report Date -3.8%

WPM WHEATON PRECIOUS METALS CORP 1.2%

Value $1.544M Shares 39,500 Share Price $39.08 * Est. Cost/Share $32.10 Unrealized @ Report Date +9.3%

BBCP CONCRETE PUMPING HLDGS INC 1.0%

Value $1.31M Shares 224,000 Share Price $5.85 Est. Cost/Share $4.12 Unrealized @ Report Date +42.7%

COST COSTCO WHSL CORP NEW 0.8%

Value $1.05M Shares 2,300 Share Price $456.50 * Est. Cost/Share $468.77 Unrealized @ Report Date 0.0%

EQT EQT CORP 0.6%

Value $846K Shares 25,000 Share Price $33.83 * Est. Cost/Share $22.61 Unrealized @ Report Date +69.2%

VSAT VIASAT INC 0.5%

Value $605K Shares 19,100 Share Price $31.65 * Est. Cost/Share $59.02 Unrealized @ Report Date -40.7%

— MAVERIX METALS INC 0.4%

Value $538K Shares 115,000 Share Price $4.68 Est. Cost/Share $4.68 Unrealized @ Report Date —

DNN DENISON MINES CORP 0.4%

Value $527K Shares 458,000 Share Price $1.15 Est. Cost/Share $1.53 Unrealized @ Report Date -22.3%

TFPM TRIPLE FLAG PRECIOUS METAL 0.4%

Value $516K Shares 37,500 Share Price $13.76 * Est. Cost/Share $12.24 Unrealized @ Report Date 0.0%

FCX FREEPORT-MCMORAN INC 0.4%

Value $475K Shares 12,500 Share Price $38.00 * Est. Cost/Share $27.89 Unrealized @ Report Date +20.1%

— ETF MANAGERS TR 0.3%

Value $369K Shares 35,000 Share Price $10.55 Est. Cost/Share $9.43 Unrealized @ Report Date —

HEI/A HEICO CORP NEW 0.3%

Value $336K Shares 2,800 Share Price $119.85 Est. Cost/Share $121.50 Unrealized @ Report Date 0.0%

— NUSCALE PWR CORP 0.1%

Value $79,500 Shares 50,000 Share Price $1.59 Est. Cost/Share $2.04 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
PDS	PRECISION DRILLING CORP	167,850	$12.87M	9.8%	$76.70 *	$20.50	+251.8%	COM NEW	74022D407
SGOL	ABRDN GOLD ETF TRUST	715,000	$12.49M	9.5%	$17.47	$17.92	—	PHYSCL GOLD SHS	00326A104
SPY	SPDR S&P 500 ETF TR	30,000	$11.47M	8.7%	$382.43	—	—	Put	78462F103
NOV	NOV INC	455,000	$9.505M	7.2%	$20.89	$14.57	+44.0%	COM	62955J103
—	SITIO ROYALTIES CORP	325,000	$9.376M	7.1%	$28.85	$28.85	—	CLASS A COM	82983N108
ALGT	ALLEGIANT TRAVEL CO	118,500	$8.057M	6.1%	$67.99 *	$131.77	-46.5%	COM	01748X102
NXE	NEXGEN ENERGY LTD	1,725,000	$7.642M	5.8%	$4.43 *	$2.63	+58.5%	COM	65340P106
EQT	EQT CORP	200,000	$6.766M	5.1%	$33.83 *	$22.61	+69.2%	COM	26884L109
NE	NOBLE CORP PLC	175,000	$6.599M	5.0%	$37.71 *	$31.04	0.0%	ORD SHS A	G65431127
—	BARRICK GOLD CORP	335,000	$5.755M	4.4%	$17.18	$16.76	—	COM	067901108
AR	ANTERO RESOURCES CORP	185,500	$5.749M	4.4%	$30.99 *	$15.87	+117.6%	COM	03674X106
PHYS	SPROTT PHYSICAL GOLD TR	382,000	$5.386M	4.1%	$14.10	$14.71	—	UNIT	85207H104
EOG	EOG RES INC	39,400	$5.103M	3.9%	$129.52 *	$35.99	+227.4%	COM	26875P101
—	VISTA OUTDOOR INC	185,000	$4.508M	3.4%	$24.37	$24.37	—	COM	928377100
VAL	VALARIS LIMITED	46,250	$3.127M	2.4%	$67.62 *	$62.39	0.0%	CL A	G9460G101
NEM	NEWMONT CORP	51,500	$2.431M	1.8%	$47.20 *	$38.50	+6.0%	COM	651639106
SMR	NUSCALE PWR CORP	233,000	$2.391M	1.8%	$10.26 *	$10.11	+9.5%	CL A COM	67079K100
URNM	SPROTT FDS TR	72,000	$2.285M	1.7%	$31.74	$46.72	—	URANIUM MINERS E	85208P303
MAS	MASCO CORP	41,000	$1.913M	1.5%	$46.67 *	$47.29	-3.8%	COM	574599106
WPM	WHEATON PRECIOUS METALS CORP	39,500	$1.544M	1.2%	$39.08 *	$32.10	+9.3%	COM	962879102
BBCP	CONCRETE PUMPING HLDGS INC	224,000	$1.31M	1.0%	$5.85	$4.12	+42.7%	COM	206704108
COST	COSTCO WHSL CORP NEW	2,300	$1.05M	0.8%	$456.50 *	$468.77	0.0%	COM	22160K105
EQT	EQT CORP	25,000	$846K	0.6%	$33.83 *	$22.61	+69.2%	Call	26884L109
VSAT	VIASAT INC	19,100	$605K	0.5%	$31.65 *	$59.02	-40.7%	COM	92552V100
—	MAVERIX METALS INC	115,000	$538K	0.4%	$4.68	$4.68	—	COM NEW	57776F405
DNN	DENISON MINES CORP	458,000	$527K	0.4%	$1.15	$1.53	-22.3%	COM	248356107
TFPM	TRIPLE FLAG PRECIOUS METAL	37,500	$516K	0.4%	$13.76 *	$12.24	0.0%	COM	89679M104
FCX	FREEPORT-MCMORAN INC	12,500	$475K	0.4%	$38.00 *	$27.89	+20.1%	CL B	35671D857
—	ETF MANAGERS TR	35,000	$369K	0.3%	$10.55	$9.43	—	PRIME JUNIR SLVR	26924G102
HEI/A	HEICO CORP NEW	2,800	$336K	0.3%	$119.85	$121.50	0.0%	CL A	422806208
—	NUSCALE PWR CORP	50,000	$79,500	0.1%	$1.59	$2.04	—	*W EXP 05/02/202	67079K118