Mountain Lake Investment Management LLC Diversified Active

Name: Mountain Lake Investment Management LLC Q4 2025 13F Filing | 13F Explorer
Creator: Mountain Lake Investment Management LLC
Published: 2026-02-17

Location: San Francisco, CA

CIK: 0001308555 · Show all filings

Period: Q4 2025 (← Previous) (Next →)

Filing Date: Feb 17, 2026

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

Holdings (23)

SGOL ETFS GOLD TR 11.3%

Value $14.9M Shares 362,721 Share Price $41.08 Est. Cost/Share $19.83 Unrealized @ Report Date —

PHYS SPROTT ASSET MANAGEMENT LP 11.3%

Value $14.9M Shares 451,183 Share Price $33.02 Est. Cost/Share $17.29 Unrealized @ Report Date —

ALGT ALLEGIANT TRAVEL CO 8.2%

Value $10.79M Shares 126,494 Share Price $85.27 * Est. Cost/Share $99.11 Unrealized @ Report Date -27.9%

ALSN ALLISON TRANSMISSION HLDGS I 8.2%

Value $10.75M Shares 109,791 Share Price $97.90 * Est. Cost/Share $89.10 Unrealized @ Report Date -1.8%

VNOM VIPER ENERGY INC 7.4%

Value $9.718M Shares 251,563 Share Price $38.63 Est. Cost/Share $38.10 Unrealized @ Report Date -0.6%

AN AUTONATION INC 7.4%

Value $9.711M Shares 47,032 Share Price $206.48 Est. Cost/Share $167.89 Unrealized @ Report Date +23.9%

BLDR BUILDERS FIRSTSOURCE INC 6.6%

Value $8.637M Shares 83,944 Share Price $102.89 * Est. Cost/Share $139.77 Unrealized @ Report Date -19.6%

DHI D R HORTON INC 6.6%

Value $8.62M Shares 59,850 Share Price $144.03 * Est. Cost/Share $122.31 Unrealized @ Report Date +24.3%

NRP NATURAL RESOURCE PARTNERS L 5.2%

Value $6.821M Shares 65,330 Share Price $104.40 Est. Cost/Share $103.34 Unrealized @ Report Date —

NE NOBLE CORP PLC 5.0%

Value $6.537M Shares 231,491 Share Price $28.24 * Est. Cost/Share $30.26 Unrealized @ Report Date -3.4%

SDRL SEADRILL LTD 3.4%

Value $4.41M Shares 127,463 Share Price $34.60 * Est. Cost/Share $34.80 Unrealized @ Report Date -10.5%

EOG EOG RES INC 3.3%

Value $4.342M Shares 41,348 Share Price $105.01 * Est. Cost/Share $122.08 Unrealized @ Report Date -12.2%

AR ANTERO RESOURCES CORP 2.6%

Value $3.418M Shares 99,192 Share Price $34.46 Est. Cost/Share $22.77 Unrealized @ Report Date +48.7%

HP HELMERICH & PAYNE INC 2.6%

Value $3.39M Shares 118,197 Share Price $28.68 * Est. Cost/Share $18.44 Unrealized @ Report Date +44.1%

PSLV SPROTT ASSET MANAGEMENT LP 1.9%

Value $2.492M Shares 105,376 Share Price $23.65 Est. Cost/Share $13.37 Unrealized @ Report Date —

TFPM TRIPLE FLAG PRECIOUS METAL 1.8%

Value $2.415M Shares 72,712 Share Price $33.22 * Est. Cost/Share $18.89 Unrealized @ Report Date +65.6%

PPLT ABRDN PLATINUM ETF TRUST 1.6%

Value $2.122M Shares 11,383 Share Price $186.43 Est. Cost/Share $90.06 Unrealized @ Report Date —

ET ENERGY TRANSFER L P 1.2%

Value $1.637M Shares 99,285 Share Price $16.49 Est. Cost/Share $18.30 Unrealized @ Report Date —

VAL VALARIS LTD 1.2%

Value $1.572M Shares 31,192 Share Price $50.40 * Est. Cost/Share $41.16 Unrealized @ Report Date +30.4%

PAA PLAINS ALL AMERN PIPELINE L 1.2%

Value $1.549M Shares 86,237 Share Price $17.96 Est. Cost/Share $18.32 Unrealized @ Report Date —

OPLN OPENLANE INC 1.1%

Value $1.431M Shares 48,036 Share Price $29.78 * Est. Cost/Share $17.29 Unrealized @ Report Date +56.4%

DVA DAVITA INC 0.7%

Value $971K Shares 8,547 Share Price $113.61 * Est. Cost/Share $121.60 Unrealized @ Report Date 0.0%

CMP COMPASS MINERALS INTL INC 0.4%

Value $469K Shares 23,905 Share Price $19.64 * Est. Cost/Share $18.50 Unrealized @ Report Date 0.0%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SGOL	ETFS GOLD TR	362,721	$14.9M	11.3%	$41.08	$19.83	—	PHYSCL GOLD SHS	00326A104
PHYS	SPROTT ASSET MANAGEMENT LP	451,183	$14.9M	11.3%	$33.02	$17.29	—	PHYSICAL GOLD TR	85207H104
ALGT	ALLEGIANT TRAVEL CO	126,494	$10.79M	8.2%	$85.27 *	$99.11	-27.9%	COM	01748X102
ALSN	ALLISON TRANSMISSION HLDGS I	109,791	$10.75M	8.2%	$97.90 *	$89.10	-1.8%	COM	01973R101
VNOM	VIPER ENERGY INC	251,563	$9.718M	7.4%	$38.63	$38.10	-0.6%	CL A	64361Q101
AN	AUTONATION INC	47,032	$9.711M	7.4%	$206.48	$167.89	+23.9%	COM	05329W102
BLDR	BUILDERS FIRSTSOURCE INC	83,944	$8.637M	6.6%	$102.89 *	$139.77	-19.6%	COM	12008R107
DHI	D R HORTON INC	59,850	$8.62M	6.6%	$144.03 *	$122.31	+24.3%	COM	23331A109
NRP	NATURAL RESOURCE PARTNERS L	65,330	$6.821M	5.2%	$104.40	$103.34	—	COM UNIT LTD PAR	63900P608
NE	NOBLE CORP PLC	231,491	$6.537M	5.0%	$28.24 *	$30.26	-3.4%	ORD SHS A	G65431127
SDRL	SEADRILL LTD	127,463	$4.41M	3.4%	$34.60 *	$34.80	-10.5%	COM	G7997W102
EOG	EOG RES INC	41,348	$4.342M	3.3%	$105.01 *	$122.08	-12.2%	COM	26875P101
AR	ANTERO RESOURCES CORP	99,192	$3.418M	2.6%	$34.46	$22.77	+48.7%	COM	03674X106
HP	HELMERICH & PAYNE INC	118,197	$3.39M	2.6%	$28.68 *	$18.44	+44.1%	COM	423452101
PSLV	SPROTT ASSET MANAGEMENT LP	105,376	$2.492M	1.9%	$23.65	$13.37	—	PHYSICAL SILVER	85207K107
TFPM	TRIPLE FLAG PRECIOUS METAL	72,712	$2.415M	1.8%	$33.22 *	$18.89	+65.6%	COM	89679M104
PPLT	ABRDN PLATINUM ETF TRUST	11,383	$2.122M	1.6%	$186.43	$90.06	—	PHYSCL PLATM SHS	003260106
ET	ENERGY TRANSFER L P	99,285	$1.637M	1.2%	$16.49	$18.30	—	COM UT LTD PTN	29273V100
VAL	VALARIS LTD	31,192	$1.572M	1.2%	$50.40 *	$41.16	+30.4%	CL A	G9460G101
PAA	PLAINS ALL AMERN PIPELINE L	86,237	$1.549M	1.2%	$17.96	$18.32	—	UNIT LTD PARTN	726503105
OPLN	OPENLANE INC	48,036	$1.431M	1.1%	$29.78 *	$17.29	+56.4%	COM	48238T109
DVA	DAVITA INC	8,547	$971K	0.7%	$113.61 *	$121.60	0.0%	COM	23918K108
CMP	COMPASS MINERALS INTL INC	23,905	$469K	0.4%	$19.64 *	$18.50	0.0%	COM	20451N101