Nokomis Capital, L.L.C.

DALLAS, TX

$273m in 48 US stocks at the end of 30 June 2026. The top 10 are 58.7% of the money. It changed about 21.6% of the portfolio this quarter.

Value

$273m

Stocks

Top 10 share

58.7%

Turnover

21.6%

What changed this quarter

New

Bought for the first time this quarter.

OceanaGoldOGC
6.8% of the fund
Service Properties TrustSVC
2.1% of the fund
Caesars EntertainmentCZR
1.4% of the fund
Devon EnergyDVN
1.1% of the fund
Osisko Development
<0.1% of the fund

Added

Bought more of a stock they already held.

Hudbay MineralsHBM
6.7% of the fund
+71%
Antero ResourcesAR
4.6% of the fund
+28%
Mayfair GoldMINE
2.3% of the fund
+6%

Cut

Sold some of their stake.

i-80 GoldIAUX
9.7% of the fund
-17%
Coeur MiningCDE
8.2% of the fund
-18%
Lithia MotorsLAD
6.7% of the fund
-16%
Beazer Homes USABZH
5.2% of the fund
-15%
I-80 GoldIAUX-WS
3.9% of the fund
-2%
State STR Spdr DOW Jones INDDIA
3.6% of the fund
-52%
Greenfire ResourcesGFR
3.3% of the fund
-8%
Shoe Station GroupSHOE
2.7% of the fund
-8%
Integra ResourcesITRG
2.6% of the fund
-11%
Dakota GoldDC
2.5% of the fund
-19%
NexGen EnergyNXE
2.4% of the fund
-46%
Apple Hospitality REITAPLE
2.3% of the fund
-8%
OvintivOVV
2.1% of the fund
-18%
Cenovus EnergyCVE
1.5% of the fund
-4%
Osisko Development
1.4% of the fund
-24%
Maui Land & PineappleMLP
1.1% of the fund
-17%
KKR Real Estate Finance TrustKREF
1.1% of the fund
-61%
Vizsla SilverVZLA
1.1% of the fund
-17%
ACRES Commercial RealtyACR
1.0% of the fund
-22%
Century CasinosCNTY
0.8% of the fund
-9%
Vaneck ETF TrustGDXJ
0.8% of the fund
-15%
MGM Resorts InternationalMGM
0.7% of the fund
-91%
Sprott Asset Management LPPSLV
0.6% of the fund
-78%
Crescent EnergyCRGY
0.3% of the fund
-47%
ARK RestaurantsARKR
0.2% of the fund
-18%

Sold out

Sold their entire stake.

Vaneck ETF TrustGDX
-100%
Coterra EnergyCTRA
-100%
Lightwave LogicLWLG
-100%
Hallador EnergyHNRG
-100%

Holdings

i-80 GoldIAUX
Share
9.7%
Value
$27m
Shares
18,408,054
-17%
Coeur MiningCDE
Share
8.2%
Value
$22m
Shares
1,362,024
-18%
OceanaGoldOGC
Share
6.8%
Value
$18m
Shares
736,825
New
Hudbay MineralsHBM
Share
6.7%
Value
$18m
Shares
775,735
+71%
Lithia MotorsLAD
Share
6.7%
Value
$18m
Shares
62,888
-16%
Beazer Homes USABZH
Share
5.2%
Value
$14m
Shares
509,170
-15%
Antero ResourcesAR
Share
4.6%
Value
$12m
Shares
353,602
+28%
I-80 GoldIAUX-WS
Share
3.9%
Value
$11m
Shares
12,572,868
-2%
State STR Spdr DOW Jones INDDIA
Share
3.6%
Value
$10m
Shares
18,779
-52%
Greenfire ResourcesGFR
Share
3.3%
Value
$9m
Shares
1,612,581
-8%
Shoe Station GroupSHOE
Share
2.7%
Value
$7m
Shares
496,612
-8%
Integra ResourcesITRG
Share
2.6%
Value
$7m
Shares
3,147,335
-11%
Dakota GoldDC
Share
2.5%
Value
$7m
Shares
1,622,729
-19%
Sprott Asset Management LPSPPP
Share
2.5%
Value
$7m
Shares
546,814
Held
NexGen EnergyNXE
Share
2.4%
Value
$7m
Shares
700,757
-46%
Mayfair GoldMINE
Share
2.3%
Value
$6m
Shares
2,586,215
+6%
Apple Hospitality REITAPLE
Share
2.3%
Value
$6m
Shares
371,727
-8%
Service Properties TrustSVC
Share
2.1%
Value
$6m
Shares
3,446,168
New
OvintivOVV
Share
2.1%
Value
$6m
Shares
108,052
-18%
Amplify ETF TRSILJ
Share
2.0%
Value
$6m
Shares
215,126
Held
Cenovus EnergyCVE
Share
1.5%
Value
$4m
Shares
167,300
-4%
Osisko Development
Share
1.4%
Value
$4m
Shares
1,517,491
-24%
Caesars EntertainmentCZR
Share
1.4%
Value
$4m
Shares
122,773
New
Maui Land & PineappleMLP
Share
1.1%
Value
$3m
Shares
175,598
-17%
Devon EnergyDVN
Share
1.1%
Value
$3m
Shares
72,202
New
KKR Real Estate Finance TrustKREF
Share
1.1%
Value
$3m
Shares
435,600
-61%
Vizsla SilverVZLA
Share
1.1%
Value
$3m
Shares
872,153
-17%
TPG RE Finance TrustTRTX
Share
1.0%
Value
$3m
Shares
312,898
Held
ACRES Commercial RealtyACR
Share
1.0%
Value
$3m
Shares
145,768
-22%
Century CasinosCNTY
Share
0.8%
Value
$2m
Shares
1,752,854
-9%
Vaneck ETF TrustGDXJ
Share
0.8%
Value
$2m
Shares
21,515
-15%
J.JillJILL
Share
0.7%
Value
$2m
Shares
115,865
Held
MGM Resorts InternationalMGM
Share
0.7%
Value
$2m
Shares
38,308
-91%
Sprott Asset Management LPPSLV
Share
0.6%
Value
$2m
Shares
92,500
-78%
Blue Moon MetalsBMM
Share
0.6%
Value
$2m
Shares
244,866
Held
Roman DBDR Acquisition Corp. IIDRDB
Share
0.5%
Value
$1m
Shares
130,026
Held
Alamos GoldAGI
Share
0.4%
Value
$1m
Shares
39,132
Held
Applied OptoelectronicsAAOI
Share
0.4%
Value
$1m
Shares
7,900
Held
Sibanye StillwaterSBSW
Share
0.4%
Value
$1m
Shares
120,666
Held
Perpetua ResourcesPPTA
Share
0.4%
Value
$989,193
Shares
47,649
Held
Crescent EnergyCRGY
Share
0.3%
Value
$902,704
Shares
91,925
-47%
ARK RestaurantsARKR
Share
0.2%
Value
$549,475
Shares
93,767
-18%
IsharesEWZ
Share
0.2%
Value
$432,078
Shares
12,524
-20%
OTG Acquisition Corp. IOTGA
Share
<0.1%
Value
$158,787
Shares
15,644
-90%
Osisko Development
Share
<0.1%
Value
$60,200
Shares
999,999
New
OTG Acquisition Corp. IOTGAW
Share
<0.1%
Value
$33,206
Shares
80,822
Held
Roman Dbdr AcquisitionDRDBW
Share
<0.1%
Value
$19,304
Shares
78,473
-53%
Mobix LabsMOBXW
Share
<0.1%
Value
$1,024
Shares
11,493
-62%

Company	Share of fund	Value	Shares	Change
i-80 GoldIAUX	9.7%	$27m	18,408,054	-17%
Coeur MiningCDE	8.2%	$22m	1,362,024	-18%
OceanaGoldOGC	6.8%	$18m	736,825	New
Hudbay MineralsHBM	6.7%	$18m	775,735	+71%
Lithia MotorsLAD	6.7%	$18m	62,888	-16%
Beazer Homes USABZH	5.2%	$14m	509,170	-15%
Antero ResourcesAR	4.6%	$12m	353,602	+28%
I-80 GoldIAUX-WS	3.9%	$11m	12,572,868	-2%
State STR Spdr DOW Jones INDDIA	3.6%	$10m	18,779	-52%
Greenfire ResourcesGFR	3.3%	$9m	1,612,581	-8%
Shoe Station GroupSHOE	2.7%	$7m	496,612	-8%
Integra ResourcesITRG	2.6%	$7m	3,147,335	-11%
Dakota GoldDC	2.5%	$7m	1,622,729	-19%
Sprott Asset Management LPSPPP	2.5%	$7m	546,814	Held
NexGen EnergyNXE	2.4%	$7m	700,757	-46%
Mayfair GoldMINE	2.3%	$6m	2,586,215	+6%
Apple Hospitality REITAPLE	2.3%	$6m	371,727	-8%
Service Properties TrustSVC	2.1%	$6m	3,446,168	New
OvintivOVV	2.1%	$6m	108,052	-18%
Amplify ETF TRSILJ	2.0%	$6m	215,126	Held
Cenovus EnergyCVE	1.5%	$4m	167,300	-4%
Osisko Development	1.4%	$4m	1,517,491	-24%
Caesars EntertainmentCZR	1.4%	$4m	122,773	New
Maui Land & PineappleMLP	1.1%	$3m	175,598	-17%
Devon EnergyDVN	1.1%	$3m	72,202	New
KKR Real Estate Finance TrustKREF	1.1%	$3m	435,600	-61%
Vizsla SilverVZLA	1.1%	$3m	872,153	-17%
TPG RE Finance TrustTRTX	1.0%	$3m	312,898	Held
ACRES Commercial RealtyACR	1.0%	$3m	145,768	-22%
Century CasinosCNTY	0.8%	$2m	1,752,854	-9%
Vaneck ETF TrustGDXJ	0.8%	$2m	21,515	-15%
J.JillJILL	0.7%	$2m	115,865	Held
MGM Resorts InternationalMGM	0.7%	$2m	38,308	-91%
Sprott Asset Management LPPSLV	0.6%	$2m	92,500	-78%
Blue Moon MetalsBMM	0.6%	$2m	244,866	Held
Roman DBDR Acquisition Corp. IIDRDB	0.5%	$1m	130,026	Held
Alamos GoldAGI	0.4%	$1m	39,132	Held
Applied OptoelectronicsAAOI	0.4%	$1m	7,900	Held
Sibanye StillwaterSBSW	0.4%	$1m	120,666	Held
Perpetua ResourcesPPTA	0.4%	$989,193	47,649	Held
Crescent EnergyCRGY	0.3%	$902,704	91,925	-47%
ARK RestaurantsARKR	0.2%	$549,475	93,767	-18%
IsharesEWZ	0.2%	$432,078	12,524	-20%
OTG Acquisition Corp. IOTGA	<0.1%	$158,787	15,644	-90%
Osisko Development	<0.1%	$60,200	999,999	New
OTG Acquisition Corp. IOTGAW	<0.1%	$33,206	80,822	Held
Roman Dbdr AcquisitionDRDBW	<0.1%	$19,304	78,473	-53%
Mobix LabsMOBXW	<0.1%	$1,024	11,493	-62%

Options (7)

AST SpaceMobileASTS
Type
Put
Value
$15m
Contracts
166,500
NvidiaNVDA
Type
Put
Value
$1m
Contracts
5,000
Invesco QQQ TRQQQ
Type
Put
Value
$883,680
Contracts
1,200
Spdr Gold TRGLD
Type
Call
Value
$405,218
Contracts
1,100
Eos Energy EnterprisesEOSE
Type
Put
Value
$290,472
Contracts
49,400
Vaneck ETF TrustGDXJ
Type
Call
Value
$196,500
Contracts
2,000
Soundhound AISOUN
Type
Put
Value
$113,872
Contracts
17,600

Company	Type	Value	Contracts
AST SpaceMobileASTS	Put	$15m	166,500
NvidiaNVDA	Put	$1m	5,000
Invesco QQQ TRQQQ	Put	$883,680	1,200
Spdr Gold TRGLD	Call	$405,218	1,100
Eos Energy EnterprisesEOSE	Put	$290,472	49,400
Vaneck ETF TrustGDXJ	Call	$196,500	2,000
Soundhound AISOUN	Put	$113,872	17,600

Over time and by industry

Value over time

Jun '25

Dec '25

Jun '26

Value is up 14.1% since 30 June 2025.

Where the money is

Materials44.1%

Retail & consumer18.4%

Energy12.9%

Real estate8.6%

Financial services0.6%

Technology0.4%

Other15.0%

From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.