Mountain Lake Investment Management 13F annual report
Mountain Lake Investment Management is an investment fund managing more than $88.8 billion ran by Eugene Cheuk. There are currently 25 companies in Mr. Cheuk’s portfolio. The largest investments include Etfs Gold Tr and Sitio Royalties Corp, together worth $23 billion.
$88.8 billion Assets Under Management (AUM)
As of 7th August 2024, Mountain Lake Investment Management’s top holding is 635,000 shares of Etfs Gold Tr currently worth over $14.1 billion and making up 15.9% of the portfolio value.
In addition, the fund holds 375,000 shares of Sitio Royalties Corp worth $8.85 billion.
The third-largest holding is Seadrill 2021 Ltd worth $7.98 billion and the next is Allegiant Travel worth $7.13 billion, with 142,000 shares owned.
Currently, Mountain Lake Investment Management's portfolio is worth at least $88.8 billion. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Mountain Lake Investment Management
The Mountain Lake Investment Management office and employees reside in San Francisco, California. According to the last 13-F report filed with the SEC, Eugene Cheuk serves as the Chief Financial Officer at Mountain Lake Investment Management.
Recent trades
In the most recent 13F filing, Mountain Lake Investment Management revealed that it had opened a new position in
Avis Budget Inc and bought 45,000 shares worth $4.7 billion.
This means they effectively own approximately 0.1% of the company.
Avis Budget Inc makes up
34.6%
of the fund's Industrials sector allocation and has decreased its share price by 63.5% in the past year.
The investment fund also strengthened its position in Etfs Gold Tr by buying
10,000 additional shares.
This makes their stake in Etfs Gold Tr total 635,000 shares worth $14.1 billion.
On the other hand, there are companies that Mountain Lake Investment Management is getting rid of from its portfolio.
Mountain Lake Investment Management closed its position in Asbury Automotive Inc on 14th August 2024.
It sold the previously owned 18,500 shares for $4.36 billion.
Eugene Cheuk also disclosed a decreased stake in Seadrill 2021 Ltd by approximately 0.1%.
This leaves the value of the investment at $7.98 billion and 155,000 shares.
One of the smallest hedge funds
The two most similar investment funds to Mountain Lake Investment Management are University Of Wisconsin Foundation and Ridgepath Capital Management. They manage $88.8 billion and $88.9 billion respectively.
Eugene Cheuk investment strategy
Mountain Lake Investment Management’s portfolio is diversified across 9 sectors.
Currently, their heaviest sector is Energy — making up 15.4% of
the total portfolio value.
The fund focuses on investments in the United States as
48.0% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
4% of the total holdings value.
On the other hand, small-cap stocks make up only 4.0% of the portfolio.
The average market cap of the portfolio companies is close to $3.62 billion.
The complete list of Mountain Lake Investment Management trades based on 13F SEC filings
These positions were updated on August 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Etfs Gold Tr |
1.60%
635,000
|
$14,109,700,000 | 15.88% |
| Sitio Royalties Corp |
No change
375,000
|
$8,853,750,000 | 9.97% |
| Seadrill 2021 Ltd |
4.91%
155,000
|
$7,982,500,000 | 8.99% |
| Allegiant Travel |
20.34%
142,000
|
$7,132,660,000 | 8.03% |
| Noble Corp Plc |
5.20%
155,000
|
$6,920,750,000 | 7.79% |
| NexGen Energy Ltd |
6.40%
950,000
|
$6,631,000,000 | 7.46% |
| Avis Budget Group Inc |
Opened
45,000
|
$4,703,400,000 | 5.29% |
| Antero Resources Corp |
28.61%
143,500
|
$4,682,405,000 | 5.27% |
| Builders Firstsource Inc |
178.48%
33,000
|
$4,567,530,000 | 5.14% |
| Autonation Inc. |
256.25%
28,500
|
$4,542,330,000 | 5.11% |
| Asbury Automotive Group Inc |
Closed
18,500
|
$4,361,930,000 | |
| Triple Flag Precious Metal |
7.27%
255,000
|
$3,952,500,000 | 4.45% |
| Sprott Fds Tr |
No change
102,300
|
$2,447,016,000 | 2.75% |
| Precision Drilling Corp |
59.46%
30,000
|
$2,110,200,000 | 2.38% |
| Openlane Inc. |
140.00%
120,000
|
$1,990,800,000 | 2.24% |
| Hertz Global Holdings Inc. |
Opened
500,000
|
$1,765,000,000 | 1.99% |
| Costco Whsl Corp New |
Closed
1,970
|
$1,443,281,000 | |
| VanEck ETF Trust |
8.00%
27,000
|
$1,137,240,000 | 1.28% |
| Sprott Inc. |
53.33%
23,000
|
$951,970,000 | 1.07% |
| Oklo Inc |
Opened
100,551
|
$851,667,000 | 0.96% |
| Abrdn Platinum Etf Trust |
Opened
8,500
|
$777,495,000 | 0.88% |
| Vista Outdoor Inc |
85.39%
19,720
|
$742,458,000 | 0.84% |
| Seabridge Gold, Inc. |
5.36%
53,000
|
$725,570,000 | 0.82% |
| East West Bancorp, Inc. |
Opened
8,500
|
$622,455,000 | 0.70% |
| FRP Holdings Inc |
100.00%
10,000
|
$285,200,000 | 0.32% |
| Alico Inc. |
Opened
8,000
|
$207,280,000 | 0.23% |
| Sprott Physical Silver Tr |
Opened
15,000
|
$148,950,000 | 0.17% |
| No transactions found | |||
| Showing first 500 out of 27 holdings | |||
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