Mountain Lake Investment Management LLC

Q2 2026 13F-HR Holdings

Location
San Francisco, CA
Holdings as of
6/30/2026
Date filed
8/14/2026
Form type
13F-HR
Num holdings
31
Total value ($000)
$160,572
Net value change ($000)
+5,765 (3.7%)
New positions
4
Sold out positions
2
Turnover %
9.7%
Sector allocation + QoQ delta (equities-only)
Prev filing: 5/15/2026 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q1 2026
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
MOH 5,464 81.0%
BLDR 4,616 53.6%
CALM 4,147 299.2%
BNO 3,919 NEW
TFPM 2,548 81.4%
UBER 2,316 NEW
DHI 2,175 24.2%
IIIN 1,337 NEW
OPLN 961 41.4%
WS 928 407.0%
Top Reduces (Value $000, Stocks/ETFs)
AGM -6,356 -100.0%
NE -4,637 -45.5%
PHYS -2,178 -13.6%
SGOL -2,098 -14.5%
RRC -1,565 -16.1%
VNOM -1,338 -11.1%
ALSN -1,077 -8.2%
NRP -987 -10.6%
SDRL -974 -41.3%
VAL -811 -100.0%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type