Mountain Lake Investment Management LLC Diversified Active

Location: San Francisco, CA

CIK: 0001308555 · Show all filings

Period: Q3 2025 (← Previous) (Next →)

Filing Date: Nov 14, 2025

Total Value: $134M (100.0% shares, 0.0% debt)

Holdings (26)

SGOL ETFS GOLD TR 12.6%

Value $16.9M Shares 459,101 Share Price $36.81 Est. Cost/Share $19.83 Unrealized @ Report Date —

PHYS SPROTT ASSET MANAGEMENT LP 10.2%

Value $13.69M Shares 462,140 Share Price $29.62 Est. Cost/Share $17.29 Unrealized @ Report Date —

AN AUTONATION INC 7.9%

Value $10.65M Shares 48,684 Share Price $218.77 * Est. Cost/Share $167.89 Unrealized @ Report Date +25.5%

DHI D R HORTON INC 7.8%

Value $10.42M Shares 61,503 Share Price $169.47 * Est. Cost/Share $122.31 Unrealized @ Report Date +28.1%

VNOM VIPER ENERGY INC 7.3%

Value $9.853M Shares 257,808 Share Price $38.22 Est. Cost/Share $38.10 Unrealized @ Report Date 0.0%

BLDR BUILDERS FIRSTSOURCE INC 6.9%

Value $9.283M Shares 76,562 Share Price $121.25 * Est. Cost/Share $142.42 Unrealized @ Report Date -6.8%

ALSN ALLISON TRANSMISSION HLDGS I 6.3%

Value $8.473M Shares 99,823 Share Price $84.88 * Est. Cost/Share $89.26 Unrealized @ Report Date -0.8%

ALGT ALLEGIANT TRAVEL CO 6.2%

Value $8.307M Shares 136,702 Share Price $60.77 * Est. Cost/Share $99.11 Unrealized @ Report Date -42.1%

NE NOBLE CORP PLC 4.8%

Value $6.415M Shares 226,853 Share Price $28.28 * Est. Cost/Share $30.29 Unrealized @ Report Date -9.0%

EOG EOG RES INC 4.2%

Value $5.605M Shares 49,988 Share Price $112.12 * Est. Cost/Share $122.08 Unrealized @ Report Date -3.4%

NRP NATURAL RESOURCE PARTNERS L 3.6%

Value $4.79M Shares 45,622 Share Price $105.00 Est. Cost/Share $102.88 Unrealized @ Report Date —

SDRL SEADRILL LTD 3.3%

Value $4.394M Shares 145,436 Share Price $30.21 Est. Cost/Share $34.80 Unrealized @ Report Date -12.5%

AR ANTERO RESOURCES CORP 2.5%

Value $3.41M Shares 101,608 Share Price $33.56 Est. Cost/Share $22.77 Unrealized @ Report Date +46.3%

HP HELMERICH & PAYNE INC 2.2%

Value $3.013M Shares 136,393 Share Price $22.09 * Est. Cost/Share $18.44 Unrealized @ Report Date 0.0%

CNC CENTENE CORP DEL 2.2%

Value $2.976M Shares 83,402 Share Price $35.68 * Est. Cost/Share $30.20 Unrealized @ Report Date 0.0%

TFPM TRIPLE FLAG PRECIOUS METAL 1.6%

Value $2.18M Shares 74,516 Share Price $29.26 * Est. Cost/Share $18.89 Unrealized @ Report Date +36.8%

PPLT ABRDN PLATINUM ETF TRUST 1.4%

Value $1.92M Shares 13,440 Share Price $142.88 Est. Cost/Share $90.06 Unrealized @ Report Date —

ET ENERGY TRANSFER L P 1.4%

Value $1.884M Shares 109,774 Share Price $17.16 Est. Cost/Share $18.30 Unrealized @ Report Date —

PSLV SPROTT ASSET MANAGEMENT LP 1.2%

Value $1.569M Shares 99,908 Share Price $15.70 Est. Cost/Share $12.81 Unrealized @ Report Date —

VAL VALARIS LTD 1.2%

Value $1.559M Shares 31,974 Share Price $48.77 Est. Cost/Share $41.16 Unrealized @ Report Date +18.5%

PAA PLAINS ALL AMERN PIPELINE L 1.1%

Value $1.506M Shares 88,281 Share Price $17.06 Est. Cost/Share $18.32 Unrealized @ Report Date —

CI THE CIGNA GROUP 1.1%

Value $1.483M Shares 5,144 Share Price $288.25 Est. Cost/Share $293.19 Unrealized @ Report Date 0.0%

CNR CORE NATURAL RESOURCES INC 1.1%

Value $1.473M Shares 17,643 Share Price $83.48 * Est. Cost/Share $79.87 Unrealized @ Report Date -6.4%

OPLN OPENLANE INC 1.0%

Value $1.281M Shares 44,493 Share Price $28.78 * Est. Cost/Share $16.51 Unrealized @ Report Date +65.0%

BTU PEABODY ENERGY CORP 0.7%

Value $913K Shares 34,420 Share Price $26.52 * Est. Cost/Share $17.54 Unrealized @ Report Date +1.2%

WES WESTERN MIDSTREAM PARTNERS L 0.2%

Value $329K Shares 8,363 Share Price $39.29 Est. Cost/Share $39.29 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SGOL	ETFS GOLD TR	459,101	$16.9M	12.6%	$36.81	$19.83	—	PHYSCL GOLD SHS	00326A104
PHYS	SPROTT ASSET MANAGEMENT LP	462,140	$13.69M	10.2%	$29.62	$17.29	—	PHYSICAL GOLD TR	85207H104
AN	AUTONATION INC	48,684	$10.65M	7.9%	$218.77 *	$167.89	+25.5%	COM	05329W102
DHI	D R HORTON INC	61,503	$10.42M	7.8%	$169.47 *	$122.31	+28.1%	COM	23331A109
VNOM	VIPER ENERGY INC	257,808	$9.853M	7.3%	$38.22	$38.10	0.0%	CL A	64361Q101
BLDR	BUILDERS FIRSTSOURCE INC	76,562	$9.283M	6.9%	$121.25 *	$142.42	-6.8%	COM	12008R107
ALSN	ALLISON TRANSMISSION HLDGS I	99,823	$8.473M	6.3%	$84.88 *	$89.26	-0.8%	COM	01973R101
ALGT	ALLEGIANT TRAVEL CO	136,702	$8.307M	6.2%	$60.77 *	$99.11	-42.1%	COM	01748X102
NE	NOBLE CORP PLC	226,853	$6.415M	4.8%	$28.28 *	$30.29	-9.0%	ORD SHS A	G65431127
EOG	EOG RES INC	49,988	$5.605M	4.2%	$112.12 *	$122.08	-3.4%	COM	26875P101
NRP	NATURAL RESOURCE PARTNERS L	45,622	$4.79M	3.6%	$105.00	$102.88	—	COM UNIT LTD PAR	63900P608
SDRL	SEADRILL LTD	145,436	$4.394M	3.3%	$30.21	$34.80	-12.5%	COM	G7997W102
AR	ANTERO RESOURCES CORP	101,608	$3.41M	2.5%	$33.56	$22.77	+46.3%	COM	03674X106
HP	HELMERICH & PAYNE INC	136,393	$3.013M	2.2%	$22.09 *	$18.44	0.0%	COM	423452101
CNC	CENTENE CORP DEL	83,402	$2.976M	2.2%	$35.68 *	$30.20	0.0%	COM	15135B101
TFPM	TRIPLE FLAG PRECIOUS METAL	74,516	$2.18M	1.6%	$29.26 *	$18.89	+36.8%	COM	89679M104
PPLT	ABRDN PLATINUM ETF TRUST	13,440	$1.92M	1.4%	$142.88	$90.06	—	PHYSCL PLATM SHS	003260106
ET	ENERGY TRANSFER L P	109,774	$1.884M	1.4%	$17.16	$18.30	—	COM UT LTD PTN	29273V100
PSLV	SPROTT ASSET MANAGEMENT LP	99,908	$1.569M	1.2%	$15.70	$12.81	—	PHYSICAL SILVER	85207K107
VAL	VALARIS LTD	31,974	$1.559M	1.2%	$48.77	$41.16	+18.5%	CL A	G9460G101
PAA	PLAINS ALL AMERN PIPELINE L	88,281	$1.506M	1.1%	$17.06	$18.32	—	UNIT LTD PARTN	726503105
CI	THE CIGNA GROUP	5,144	$1.483M	1.1%	$288.25	$293.19	0.0%	COM	125523100
CNR	CORE NATURAL RESOURCES INC	17,643	$1.473M	1.1%	$83.48 *	$79.87	-6.4%	COM SHS	218937100
OPLN	OPENLANE INC	44,493	$1.281M	1.0%	$28.78 *	$16.51	+65.0%	COM	48238T109
BTU	PEABODY ENERGY CORP	34,420	$913K	0.7%	$26.52 *	$17.54	+1.2%	COM	704551100
WES	WESTERN MIDSTREAM PARTNERS L	8,363	$329K	0.2%	$39.29	$39.29	—	COM UNIT LP INT	958669103