Latest Mountain Lake Investment Management LLC Stock Portfolio

Mountain Lake Investment Management LLC Performance:

2025 Q4: 5.51%YTD: 11.8%2024: 3.98%

Performance for 2025 Q4 is 5.51%, and YTD is 11.8%, and 2024 is 3.98%.

About Mountain Lake Investment Management LLC and 13F Hedge Fund Stock Holdings

On 2026-02-17, the fund reported it's updated stock portfolio. In the 13F Holdings report, Mountain Lake Investment Management LLC reported an equity portfolio of $131.6 Millions as of 31 Dec, 2025.

The top stock holdings of Mountain Lake Investment Management LLC are SGOL, PHYS, ALGT. The fund has invested 11.3% of it's portfolio in ETFS GOLD TR and 11.3% of portfolio in SPROTT ASSET MANAGEMENT LP.

The fund managers got completely rid off CENTENE CORP DEL (CNC), THE CIGNA GROUP (CI) and CORE NATURAL RESOURCES INC stocks. They significantly reduced their stock positions in ETFS GOLD TR (SGOL), EOG RES INC (EOG) and ABRDN PLATINUM ETF TRUST (PPLT). Mountain Lake Investment Management LLC opened new stock positions in DAVITA INC (DVA) and COMPASS MINERALS INTL INC (CMP). The fund showed a lot of confidence in some stocks as they added substantially to NATURAL RESOURCE PARTNERS L (NRP), ALLISON TRANSMISSION HLDGS I (ALSN) and BUILDERS FIRSTSOURCE INC (BLDR).

Mountain Lake Investment Management LLC Annual Return Estimates Vs S&P 500

Our best estimate is that Mountain Lake Investment Management LLC made a return of 5.51% in the last quarter. In trailing 12 months, it's portfolio return was 11.8%.

Performance
S&P 500

New Buys

Ticker	$ Bought
davita inc	971,025
compass minerals intl inc	469,494

New stocks bought by Mountain Lake Investment Management LLC

Additions

Ticker	% Inc.
natural resource partners l	43.2
allison transmission hldgs i	9.99
builders firstsource inc	9.64
openlane inc	7.96
sprott asset management lp	5.47
noble corp plc	2.04

Additions to existing portfolio by Mountain Lake Investment Management LLC

Reductions

Ticker	% Reduced
etfs gold tr	-20.99
eog res inc	-17.28
abrdn platinum etf trust	-15.31
helmerich & payne inc	-13.34
seadrill ltd	-12.36
energy transfer l p	-9.56
allegiant travel co	-7.47
autonation inc	-3.39

Mountain Lake Investment Management LLC reduced stake in above stock

Sold off

Ticker	$ Sold
centene corp del	-2,975,780
peabody energy corp	-912,818
core natural resources inc	-1,472,840
western midstream partners l	-328,582
the cigna group	-1,482,760

Mountain Lake Investment Management LLC got rid off the above stocks

Sector Distribution

Mountain Lake Investment Management LLC has about 43.7% of it's holdings in Others sector.

Sector	%
Others	43.7
Consumer Cyclical	23.2
Energy	17.3
Industrials	14.8

Market Cap. Distribution

Mountain Lake Investment Management LLC has about 21.4% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
UNALLOCATED	43.7
MID-CAP	29.3
LARGE-CAP	21.4
SMALL-CAP	5.5

Stocks belong to which Index?

About 24% of the stocks held by Mountain Lake Investment Management LLC either belong to S&P 500 or RUSSELL 2000 index.

Index	%
Others	76
RUSSELL 2000	13.4
S&P 500	10.6

Top 5 Winners (%)		%
PSLV	sprott asset management lp	48.7 %
ALGT	allegiant travel co	38.8 %
PPLT	abrdn platinum etf trust	28.1 %
HP	helmerich & payne inc	27.8 %
ALSN	allison transmission hldgs i	14.5 %

Top 5 Winners ($)		$
ALGT	allegiant travel co	3.2 M
SGOL	etfs gold tr	1.8 M
PHYS	sprott asset management lp	1.6 M
ALSN	allison transmission hldgs i	1.4 M
HP	helmerich & payne inc	0.8 M

Top 5 Losers (%)		%
DHI	d r horton inc	-14.8 %
BLDR	builders firstsource inc	-14.6 %
EOG	eog res inc	-5.8 %
AN	autonation inc	-5.5 %
ET	energy transfer l p	-3.7 %

Top 5 Losers ($)		$
DHI	d r horton inc	-1.5 M
BLDR	builders firstsource inc	-1.5 M
AN	autonation inc	-0.6 M
EOG	eog res inc	-0.3 M
ET	energy transfer l p	-0.1 M

Mountain Lake Investment Management LLC Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of Mountain Lake Investment Management LLC

Mountain Lake Investment Management LLC has 23 stocks in it's portfolio. About 77% of the portfolio is in top 10 stocks. DHI proved to be the most loss making stock for the portfolio. ALGT was the most profitable stock for Mountain Lake Investment Management LLC last quarter.

Last Reported on: 17 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
ALGT	allegiant travel co	8.20	126,494	10,786,100	reduced	-7.47

ALSN	allison transmission hldgs i	8.17	109,791	10,748,500	added	9.99

AN	autonation inc	7.38	47,032	9,711,170	reduced	-3.39

AR	antero resources corp	2.60	99,192	3,418,160	reduced	-2.38

BLDR	builders firstsource inc	6.56	83,944	8,637,000	added	9.64

BTU	peabody energy corp	0.00	0.00	0.00	sold off	-100

CI	the cigna group	0.00	0.00	0.00	sold off	-100

CMP	compass minerals intl inc	0.36	23,905	469,494	new

CNC	centene corp del	0.00	0.00	0.00	sold off	-100

DHI	d r horton inc	6.55	59,850	8,620,200	reduced	-2.69

DVA	davita inc	0.74	8,547	971,025	new

EOG	eog res inc	3.30	41,348	4,341,950	reduced	-17.28

ET	energy transfer l p	1.24	99,285	1,637,210	reduced	-9.56

HP	helmerich & payne inc	2.58	118,197	3,389,890	reduced	-13.34

KAR	openlane inc	1.09	48,036	1,430,510	added	7.96

NRP	natural resource partners l	5.18	65,330	6,820,500	added	43.2

PAA	plains all amern pipeline l	1.18	86,237	1,548,820	reduced	-2.32

PHYS	sprott asset management lp	11.32	451,183	14,898,100	reduced	-2.37

PPLT	abrdn platinum etf trust	1.61	11,383	2,122,130	reduced	-15.31

PSLV	sprott asset management lp	1.89	105,376	2,492,140	added	5.47