Mountain Lake Investment Management LLC

CIK

1308555

Location

SAN FRANCISCO, CA

Portfolio Value

Micro $1,385,520

Diversification

Diversified

Filing Date

Global Rank

#4,792 / 8,588 ▲ 498

Top Industry

Oil & Gas Drilling 12.6%

3Y Alpha vs SPY

-3.4%

Period ended 3 months ago

Filed May 15, 2026 · 33d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+62.5%

SPY

+76.8%

Annualised alpha

-3.4%

Max drawdown

−25.4%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

28 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

10.4%

−1.0 pts

Top 5

43.3%

−3.1 pts

Top 10

73.7%

−3.4 pts

HHI

633

Diversified−55

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Energy	37.0%	$56,958,934	11
Consumer Cyclical	23.0%	$35,427,871	4
Financial Services	15.6%	$23,947,154	3
Unclassified	9.4%	$14,497,841	1
Industrials	5.6%	$8,615,093	1
Healthcare	5.1%	$7,846,723	2
Basic Materials	3.3%	$5,013,111	4
Consumer Defensive	0.9%	$1,385,520	1
Communication Services	0.1%	$215,670	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

9 positions

Ticker	Company	Δ Shares	Shares	Value
CMP	Compass Minerals International Inc	+31,731	55,636	$1,299,100
OPLN	OPENLANE, Inc.	+31,501	79,537	$2,318,503
BLDR	Builders FirstSource, Inc.	+20,697	104,641	$8,615,093
TFPM	Triple Flag Precious Metals Corp.	+17,491	90,203	$3,130,946
NRP	Natural Resource Partners LP	+11,343	76,673	$9,277,433
AN	Autonation, Inc.	+9,413	56,445	$11,021,450
DHI	Horton D R Inc /De/	+5,740	65,590	$9,000,259
VNOM	Viper Energy, Inc.	+4,576	256,139	$12,035,971
ALSN	Allison Transmission Holdings Inc	+2,012	111,803	$13,087,659
No positions match the current search.

Trimmed

Positions the filer reduced

7 positions

Ticker	Company	Δ Shares	Shares	Value
SDRL	SEADRILL Ltd	−75,651	51,812	$2,357,446
PSLV	Sprott Physical Silver Trust	−38,502	66,874	$1,631,056
SGOL	abrdn Gold ETF Trust	−37,803	324,918	$14,497,841
NE	Noble Corp plc	−23,696	207,795	$10,196,500
VAL	Valaris Ltd	−22,922	8,270	$810,790
DVA	Davita Inc.	−1,394	7,153	$1,099,344
PHYS	Sprott Physical Gold Trust	−839	450,344	$15,960,191
No positions match the current search.

New Positions

Positions the filer opened this quarter

8 positions

Ticker	Company	Shares	Value
RRC	Range Resources Corp	214,515	$9,691,787
MOH	Molina Healthcare, Inc.	50,618	$6,747,379
AGM	Federal Agricultural Mortgage Corp	42,844	$6,355,907
CALM	Cal-Maine Foods Inc	17,505	$1,385,520
AGI	Alamos Gold Inc	8,000	$355,440
SLB	Slb Limited/Nv	5,425	$278,790
WS	Worthington Steel, Inc.	7,500	$227,625
GOOGL	Alphabet Inc.	750	$215,670
No positions match the current search.

Sold Out

Positions the filer fully exited

3 positions

Ticker	Company	Shares	Value
ALGT	Allegiant Travel CO	126,494	$10,786,143
EOG	Eog Resources Inc	41,348	$4,341,953
PPLT	abrdn Platinum ETF Trust	11,383	$2,122,132
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

1 positions · $1,385,520 total · Consumer Defensive only · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio	History
CALM	Cal-Maine Foods Inc Consumer Defensive	NEW	17,505	NEW	$1,385,520	NEW	100.00%