Mountain Lake Investment Management LLC reported 30 positions worth $159.81M for the quarter ended Jun 30, 2026, up 3.8% on the prior quarter. It opened 4 new positions, added to 13, trimmed 8 and exited 2. Its largest holding is Sprott Physical Gold Trust at 8.6% of the portfolio.
Reported 13F market value at each quarter end. A change mixes trading with price moves in the positions held.
Dollar value of shares bought and sold each quarter, at that quarter’s price. It counts trading only, not price changes.
How many positions were opened, added to, trimmed or closed each quarter.
Share of reported value in each sector at every quarter end.
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| CALM Cal-Maine Foods Inc | +51.2K | +292.4% | $4.12M | 3.46% |
| BNO United States Brent Oil Fund, LP | +96.3K | – | $3.92M | 2.45% |
| BLDR Builders FirstSource, Inc. | +43.2K | +41.3% | $3.87M | 8.28% |
| TFPM Triple Flag Precious Metals Corp. | +99.3K | +110.1% | $2.98M | 3.55% |
| UBER Uber Technologies, Inc | +32.1K | – | $2.32M | 1.45% |
| IIIN Insteel Industries Inc | +44.3K | – | $1.34M | 0.836% |
| WS Worthington Steel, Inc. | +26.9K | +359.0% | $904.21K | 0.723% |
| SBH Sally Beauty Holdings, Inc. | +63.6K | – | $898.63K | 0.562% |
| NRP Natural Resource Partners Lp | +8,791 | +11.5% | $852.73K | 5.19% |
| MOH Molina Healthcare, Inc. | +2,776 | +5.5% | $634.87K | 7.64% |
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| AGM Federal Agricultural Mortgage Corp | -42.8K | -100.0% | $6.36M | Exited |
| NE Noble Corp plc | -58.8K | -28.3% | $2.19M | 3.48% |
| VAL Valaris Ltd | -8,270 | -100.0% | $810.79K | Exited |
| ALSN Allison Transmission Holdings Inc | -5,262 | -4.7% | $593.24K | 7.52% |
| SDRL SEADRILL Ltd | -15.3K | -29.4% | $577.02K | 0.865% |
| DVA Davita Inc. | -1,841 | -25.7% | $409.59K | 0.74% |
| VNOM Viper Energy, Inc. | -3,835 | -1.5% | $162.60K | 6.69% |
| PAA Plains All American Pipeline Lp | -4,277 | -5.0% | $95.21K | 1.14% |
| ET Energy Transfer LP | -3,095 | -3.1% | $59.18K | 1.15% |
| SGOL abrdn Gold ETF Trust | -563 | -0.2% | $21.52K | 7.76% |
| # | Activity | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | PHYS Sprott Physical Gold Trust | Others | 456.8K | $13.78M | 8.62% | +6,475 | +1.4% | Added | 0.1% |
| 2 | BLDR Builders FirstSource, Inc. | Industrials | 147.9K | $13.23M | 8.28% | +43.2K | +41.3% | Added | 0.14% |
| 3 | SGOL abrdn Gold ETF Trust | Others | 324.4K | $12.40M | 7.76% | -563 | -0.2% | Reduced | 0.18% |
| 4 | MOH Molina Healthcare, Inc. | Healthcare | 53.4K | $12.21M | 7.64% | +2,776 | +5.5% | Added | 0.1% |
| 5 | ALSN Allison Transmission Holdings Inc | Industrials | 106.5K | $12.01M | 7.52% | -5,262 | -4.7% | Reduced | 0.13% |
| 6 | DHI Horton D R Inc | Consumer Discretionary | 68.6K | $11.17M | 6.99% | +3,016 | +4.6% | Added | 0.02% |
| 7 | AN Autonation, Inc. | Consumer Discretionary | 58.3K | $10.82M | 6.77% | +1,812 | +3.2% | Added | 0.17% |
| 8 | VNOM Viper Energy, Inc. | Energy | 252.3K | $10.70M | 6.69% | -3,835 | -1.5% | Reduced | 0.13% |
| 9 | NRP Natural Resource Partners Lp | Energy | 85.5K | $8.29M | 5.19% | +8,791 | +11.5% | Added | 0.64% |
| 10 | RRC Range Resources Corp | Energy | 218.5K | $8.13M | 5.09% | +4,008 | +1.9% | Added | 0.09% |
| 11 | TFPM Triple Flag Precious Metals Corp. | Financial Services | 189.5K | $5.68M | 3.55% | +99.3K | +110.1% | Added | 0.09% |
| 12 | NE Noble Corp plc | Energy | 149.0K | $5.56M | 3.48% | -58.8K | -28.3% | Reduced | 0.09% |
| 13 | CALM Cal-Maine Foods Inc | Consumer Staples | 68.7K | $5.53M | 3.46% | +51.2K | +292.4% | Added | 0.14% |
| 14 | BNO United States Brent Oil Fund, LP | Others | 96.3K | $3.92M | 2.45% | +96.3K | – | New | 0.6% |
| 15 | HP Helmerich & Payne, Inc. | Energy | 118.2K | $3.87M | 2.42% | 0 | 0.0% | Unchanged | 0.12% |
Tip. Select a row to see that position’s full history at Mountain Lake Investment Management.
As of its Q2 2026 13F filing, Mountain Lake Investment Management LLC’s five largest positions were Sprott Physical Gold Trust (PHYS) at 8.6%, Builders FirstSource, Inc. (BLDR) at 8.3%, abrdn Gold ETF Trust (SGOL) at 7.8%, Molina Healthcare, Inc. (MOH) at 7.6%, Allison Transmission Holdings Inc (ALSN) at 7.5% of the reported portfolio.
Mountain Lake Investment Management LLC reported a 13F portfolio worth $159.81M across 30 positions for Q2 2026. That is up 3.8% from the previous quarter.
Its largest purchases by value were Cal-Maine Foods Inc ($4.12M), United States Brent Oil Fund, LP ($3.92M), Builders FirstSource, Inc. ($3.87M). It opened 4 new positions.
Its largest sales by value were Federal Agricultural Mortgage Corp ($6.36M), Noble Corp plc ($2.19M), Valaris Ltd ($810.79K). It exited 2 positions entirely.
From the Form 13F-HR reports Mountain Lake Investment Management LLC files with the SEC each quarter, within 45 days of quarter end. A 13F lists long positions in US-listed equities and options; it excludes short positions, cash, bonds and most non-US holdings.
13F data reflects long positions in US-listed equities and options as reported to the SEC up to 45 days after quarter end. It excludes short positions, cash, bonds and most non-US securities, so it is not a complete picture of a manager’s assets.