Mountain Lake Investment Management LLC Diversified Active

Location: San Francisco, CA

CIK: 0001308555 · Show all filings

Period: Q2 2025 (← Previous) (Next →)

Filing Date: Aug 14, 2025

Total Value: $120M (100.0% shares, 0.0% debt)

Holdings (27)

SGOL ETFS GOLD TR 13.5%

Value $16.27M Shares 515,933 Share Price $31.54 Est. Cost/Share $19.83 Unrealized @ Report Date —

PHYS SPROTT PHYSICAL GOLD TR 10.3%

Value $12.44M Shares 490,593 Share Price $25.35 Est. Cost/Share $17.29 Unrealized @ Report Date —

AN AUTONATION INC 8.7%

Value $10.42M Shares 52,458 Share Price $198.65 * Est. Cost/Share $167.89 Unrealized @ Report Date +7.5%

DHI D R HORTON INC 7.9%

Value $9.513M Shares 73,790 Share Price $128.92 * Est. Cost/Share $122.31 Unrealized @ Report Date 0.0%

BLDR BUILDERS FIRSTSOURCE INC 7.9%

Value $9.469M Shares 81,145 Share Price $116.69 Est. Cost/Share $142.42 Unrealized @ Report Date -19.0%

ALGT ALLEGIANT TRAVEL CO 6.8%

Value $8.116M Shares 147,702 Share Price $54.95 * Est. Cost/Share $99.11 Unrealized @ Report Date -48.0%

— SITIO ROYALTIES CORP 6.6%

Value $7.935M Shares 431,746 Share Price $18.38 Est. Cost/Share $25.14 Unrealized @ Report Date —

SDRL SEADRILL LTD 5.3%

Value $6.325M Shares 240,960 Share Price $26.25 * Est. Cost/Share $34.80 Unrealized @ Report Date -32.2%

EOG EOG RES INC 4.9%

Value $5.865M Shares 49,035 Share Price $119.61 * Est. Cost/Share $122.16 Unrealized @ Report Date -8.3%

NE NOBLE CORP PLC 4.6%

Value $5.499M Shares 207,123 Share Price $26.55 * Est. Cost/Share $30.55 Unrealized @ Report Date -24.9%

NRP NATURAL RESOURCE PARTNERS L 3.0%

Value $3.586M Shares 37,550 Share Price $95.51 Est. Cost/Share $102.43 Unrealized @ Report Date —

AR ANTERO RESOURCES CORP 2.7%

Value $3.251M Shares 80,720 Share Price $40.28 * Est. Cost/Share $20.04 Unrealized @ Report Date +88.9%

PDS PRECISION DRILLING CORP 2.4%

Value $2.915M Shares 61,712 Share Price $47.24 * Est. Cost/Share $44.70 Unrealized @ Report Date -0.5%

ET ENERGY TRANSFER L P 1.7%

Value $2.096M Shares 115,617 Share Price $18.13 Est. Cost/Share $18.30 Unrealized @ Report Date —

TFPM TRIPLE FLAG PRECIOUS METAL 1.5%

Value $1.847M Shares 77,979 Share Price $23.69 * Est. Cost/Share $18.89 Unrealized @ Report Date +16.0%

FRPH FRP HLDGS INC 1.5%

Value $1.796M Shares 66,799 Share Price $26.89 Est. Cost/Share $28.79 Unrealized @ Report Date -5.8%

PPLT ABRDN PLATINUM ETF TRUST 1.4%

Value $1.715M Shares 13,960 Share Price $122.87 Est. Cost/Share $90.06 Unrealized @ Report Date —

OZK BANK OZK LITTLE ROCK ARK 1.4%

Value $1.648M Shares 35,026 Share Price $47.06 * Est. Cost/Share $45.46 Unrealized @ Report Date -6.5%

PAA PLAINS ALL AMERN PIPELINE L 1.3%

Value $1.617M Shares 88,281 Share Price $18.32 Est. Cost/Share $18.32 Unrealized @ Report Date —

OPLN OPENLANE INC 1.3%

Value $1.59M Shares 65,036 Share Price $24.45 * Est. Cost/Share $16.51 Unrealized @ Report Date +27.9%

VAL VALARIS LTD 1.2%

Value $1.429M Shares 33,925 Share Price $42.11 * Est. Cost/Share $41.16 Unrealized @ Report Date -8.6%

CNR CORE NATURAL RESOURCES INC 0.9%

Value $1.1M Shares 15,766 Share Price $69.74 Est. Cost/Share $80.48 Unrealized @ Report Date -12.0%

ALSN ALLISON TRANSMISSION HLDGS I 0.8%

Value $923K Shares 9,713 Share Price $94.99 Est. Cost/Share $95.88 Unrealized @ Report Date 0.0%

JOE ST JOE CO 0.7%

Value $892K Shares 18,708 Share Price $47.70 * Est. Cost/Share $46.79 Unrealized @ Report Date -4.4%

BTU PEABODY ENERGY CORP 0.7%

Value $796K Shares 59,345 Share Price $13.42 * Est. Cost/Share $17.54 Unrealized @ Report Date -25.4%

PSLV SPROTT PHYSICAL SILVER TR 0.6%

Value $777K Shares 63,476 Share Price $12.24 Est. Cost/Share $11.15 Unrealized @ Report Date —

ALCO ALICO INC 0.3%

Value $335K Shares 10,236 Share Price $32.68 * Est. Cost/Share $30.20 Unrealized @ Report Date 0.0%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SGOL	ETFS GOLD TR	515,933	$16.27M	13.5%	$31.54	$19.83	—	PHYSCL GOLD SHS	00326A104
PHYS	SPROTT PHYSICAL GOLD TR	490,593	$12.44M	10.3%	$25.35	$17.29	—	UNIT	85207H104
AN	AUTONATION INC	52,458	$10.42M	8.7%	$198.65 *	$167.89	+7.5%	COM	05329W102
DHI	D R HORTON INC	73,790	$9.513M	7.9%	$128.92 *	$122.31	0.0%	COM	23331A109
BLDR	BUILDERS FIRSTSOURCE INC	81,145	$9.469M	7.9%	$116.69	$142.42	-19.0%	COM	12008R107
ALGT	ALLEGIANT TRAVEL CO	147,702	$8.116M	6.8%	$54.95 *	$99.11	-48.0%	COM	01748X102
—	SITIO ROYALTIES CORP	431,746	$7.935M	6.6%	$18.38	$25.14	—	CLASS A COM	82983N108
SDRL	SEADRILL LTD	240,960	$6.325M	5.3%	$26.25 *	$34.80	-32.2%	COM	G7997W102
EOG	EOG RES INC	49,035	$5.865M	4.9%	$119.61 *	$122.16	-8.3%	COM	26875P101
NE	NOBLE CORP PLC	207,123	$5.499M	4.6%	$26.55 *	$30.55	-24.9%	ORD SHS A	G65431127
NRP	NATURAL RESOURCE PARTNERS L	37,550	$3.586M	3.0%	$95.51	$102.43	—	COM UNIT LTD PAR	63900P608
AR	ANTERO RESOURCES CORP	80,720	$3.251M	2.7%	$40.28 *	$20.04	+88.9%	COM	03674X106
PDS	PRECISION DRILLING CORP	61,712	$2.915M	2.4%	$47.24 *	$44.70	-0.5%	COM NEW	74022D407
ET	ENERGY TRANSFER L P	115,617	$2.096M	1.7%	$18.13	$18.30	—	COM UT LTD PTN	29273V100
TFPM	TRIPLE FLAG PRECIOUS METAL	77,979	$1.847M	1.5%	$23.69 *	$18.89	+16.0%	COM	89679M104
FRPH	FRP HLDGS INC	66,799	$1.796M	1.5%	$26.89	$28.79	-5.8%	COM	30292L107
PPLT	ABRDN PLATINUM ETF TRUST	13,960	$1.715M	1.4%	$122.87	$90.06	—	PHYSCL PLATM SHS	003260106
OZK	BANK OZK LITTLE ROCK ARK	35,026	$1.648M	1.4%	$47.06 *	$45.46	-6.5%	COM	06417N103
PAA	PLAINS ALL AMERN PIPELINE L	88,281	$1.617M	1.3%	$18.32	$18.32	—	UNIT LTD PARTN	726503105
OPLN	OPENLANE INC	65,036	$1.59M	1.3%	$24.45 *	$16.51	+27.9%	COM	48238T109
VAL	VALARIS LTD	33,925	$1.429M	1.2%	$42.11 *	$41.16	-8.6%	CL A	G9460G101
CNR	CORE NATURAL RESOURCES INC	15,766	$1.1M	0.9%	$69.74	$80.48	-12.0%	COM SHS	218937100
ALSN	ALLISON TRANSMISSION HLDGS I	9,713	$923K	0.8%	$94.99	$95.88	0.0%	COM	01973R101
JOE	ST JOE CO	18,708	$892K	0.7%	$47.70 *	$46.79	-4.4%	COM	790148100
BTU	PEABODY ENERGY CORP	59,345	$796K	0.7%	$13.42 *	$17.54	-25.4%	COM	704551100
PSLV	SPROTT PHYSICAL SILVER TR	63,476	$777K	0.6%	$12.24	$11.15	—	TR UNIT	85207K107
ALCO	ALICO INC	10,236	$335K	0.3%	$32.68 *	$30.20	0.0%	COM	016230104