In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 21, 2026), Nokomis Capital, L.L.C. reported 44 stock positions worth $261.9 million . Its top holding was I-80 Gold (IAUX) at 10.1% of the portfolio, followed by Coeur Mining (CDE, 8.5% ) and Oceanagold (OGC, 7.1% ). Compared with Q1 2026, it opened 5 new positions, sold out of 4, added to 3 and reduced 26. The biggest buy was a new position in Oceanagold (OGC) and the biggest sale MGM Resorts International (MGM, shares −91% ).
Location DALLAS, TX
CIK 0001541055
Portfolio Value $261.9M (Q2 2026) Holdings 44 stocks · $261.9M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2026 IAUX I-80 Gold Corp. 18,408,054 $26.5M Reduce -17.0% CDE Coeur Mining Inc. 1,362,024 $22.2M Reduce -18.1% OGC Oceanagold Corp. 736,825 $18.5M New HBM Hudbay Minerals Inc. 775,735 $18.3M Add +71.0% LAD Lithia Motors Inc. 62,888 $18.3M Reduce -16.4% BZH Beazer Homes USA Inc. 509,170 $14.3M Reduce -15.2% AR Antero Resources Corp. 353,602 $12.4M Add +27.5% DIA SS SPDR Dow Jones Indus Avg filed as STATE STR SPDR DOW JONES IND 18,779 $9.8M Reduce -51.7% GFR Greenfire Resources Ltd. 1,612,581 $9.1M Reduce -8.0% SHOE Shoe Station Group Inc. 496,612 $7.4M Reduce -7.7% ITRG Integra Resources Corp. 3,147,335 $7.1M Reduce -11.0% DC Dakota Gold Corp. 1,622,729 $6.9M Reduce -19.1% SPPP Sprott Physical Platinum And 546,814 $6.8M No change NXE Nexgen Energy Ltd. 700,757 $6.6M Reduce -46.0% MINE Mayfair Gold Corp. 2,586,215 $6.3M Add +6.1% APLE Apple Hospitality REIT Inc. 371,727 $6.2M Reduce -8.2% SVC Service Pptys TR 3,446,168 $5.8M New OVV Ovintiv Inc. 108,052 $5.7M Reduce -18.3% SILJ Amplify Junior Silver Miners 215,126 $5.6M No change CVE Cenovus Energy Inc. 167,300 $4.2M Reduce -4.2% OSISKO DEVELOPMENT CORP 1,517,491 $3.7M Reduce -24.1% CZR Caesars Entertainment Inc. 122,773 $3.7M New MLP Maui Land & Pineapple Co. filed as MAUI LD & PINEAPPLE INC 175,598 $3.1M Reduce -17.3% DVN Devon Energy Corp. 72,202 $3.0M New KREF KKR Real Estate Finance Trus 435,600 $3.0M Reduce -61.1% VZLA Vizsla Silver Corp. 872,153 $2.9M Reduce -17.0% TRTX TPG Re Finance Trust Inc. 312,898 $2.6M No change ACR Acres Commercial Realty Corp. 145,768 $2.6M Reduce -22.2% CNTY Century Casinos Inc. 1,752,854 $2.2M Reduce -9.3% GDXJ Vaneck Junior Gold Miners 21,515 $2.1M Reduce -15.0% JILL J. Jill Inc. 115,865 $1.8M No change MGM MGM Resorts International 38,308 $1.8M Reduce -90.9% PSLV Sprott Physical Silver Trust 92,500 $1.7M Reduce -77.9% BMM Blue Moon Metals Inc. 244,866 $1.6M No change DRDB Roman DBDR Acquisition Corp. 130,026 $1.4M No change AGI Alamos Gold Inc. Class A 39,132 $1.2M No change AAOI Applied Optoelectronics Inc. 7,900 $1.2M No change SBSW Sibanye-Stillwater Ltd.-ADR 120,666 $1.0M No change PPTA Perpetua Resources Corp. 47,649 $989K No change CRGY Crescent Energy Inc. Class A 91,925 $903K Reduce -47.5% ARKR ARK Restaurants Corp. 93,767 $549K Reduce -18.4% EWZ iShares MSCI Brazil ETF 12,524 $432K Reduce -19.7% OTGA Otg Acquisition Corp. I Class A 15,644 $159K Reduce -90.3% OSISKO DEVELOPMENT CORP 999,999 $60K New
Options reported separately and not counted above: ASTS puts ($14.8M), NVDA puts ($1.0M), QQQ puts ($884K), GLD calls ($405K), EOSE puts ($290K), GDXJ calls ($197K), SOUN puts ($114K).
Other holdings (4): bonds, preferreds, convertibles and warrants · $10.7M (not counted above) Security Class Shares / Principal Value Change IAUX.WS I-80 Gold Corp. -26 *W EXP 11/16/202 12,572,868 $10.7M Reduce -2.2% OTGAW Otg Acquisition Corp. I - 30 *W EXP 09/05/203 80,822 $33K No change DRDBW Roman DBDR Acquisition -30 *W EXP 10/31/203 78,473 $19K Reduce -52.5% MOBXW Chavrant Capital Acq -CW23 *W EXP 12/21/202 11,493 $1K Reduce -61.8%
Total filed on the 13F, all lines: $272.6M.
Portfolio Sells Q1 2026 → Q2 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▲ MGM MGM Resorts International Reduce -90.9% 0.70% −4.18 PSLV Sprott Physical Silver Trust Reduce -77.9% 0.67% −2.54 NXE Nexgen Energy Ltd. Reduce -46.0% 2.51% −2.21 GDX Vaneck Gold Miners ETF Sold out 0.00% −2.21 DIA SS SPDR Dow Jones Indus Avg Reduce -51.7% 3.75% −1.91 CTRA Coterra Energy Inc. Sold out 0.00% −1.32 CDE Coeur Mining Inc. Reduce -18.1% 8.49% −1.31 LWLG Lightwave Logic Inc. Sold out 0.00% −1.27 KREF KKR Real Estate Finance Trus Reduce -61.1% 1.14% −1.02 HNRG Hallador Energy Co. Sold out 0.00% −0.69 OSISKO DEVELOPMENT CORP Reduce -24.1% 1.43% −0.62 DC Dakota Gold Corp. Reduce -19.1% 2.64% −0.54 IAUX I-80 Gold Corp. Reduce -17.0% 10.12% −0.47 OTGA Otg Acquisition Corp. I Class A Reduce -90.3% 0.06% −0.45 CRGY Crescent Energy Inc. Class A Reduce -47.5% 0.34% −0.40 ITRG Integra Resources Corp. Reduce -11.0% 2.73% −0.30 OVV Ovintiv Inc. Reduce -18.3% 2.17% −0.29 GDXJ Vaneck Junior Gold Miners Reduce -15.0% 0.81% −0.15 ACR Acres Commercial Realty Corp. Reduce -22.2% 0.99% −0.15 ARKR ARK Restaurants Corp. Reduce -18.4% 0.21% −0.03 EWZ iShares MSCI Brazil ETF Reduce -19.7% 0.17% −0.02 GFR Greenfire Resources Ltd. Reduce -8.0% 3.48% +0.00 VZLA Vizsla Silver Corp. Reduce -17.0% 1.10% +0.01 CNTY Century Casinos Inc. Reduce -9.3% 0.86% +0.01 CVE Cenovus Energy Inc. Reduce -4.2% 1.58% +0.13 MLP Maui Land & Pineapple Co. Reduce -17.3% 1.19% +0.17 SHOE Shoe Station Group Inc. Reduce -7.7% 2.81% +0.18 APLE Apple Hospitality REIT Inc. Reduce -8.2% 2.39% +0.92 LAD Lithia Motors Inc. Reduce -16.4% 6.98% +1.07 BZH Beazer Homes USA Inc. Reduce -15.2% 5.45% +1.82
Portfolio Buys Q1 2026 → Q2 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▼ OGC Oceanagold Corp. New 7.06% +7.06 HBM Hudbay Minerals Inc. Add +71.0% 6.99% +4.01 SVC Service Pptys TR New 2.22% +2.22 CZR Caesars Entertainment Inc. New 1.41% +1.41 DVN Devon Energy Corp. New 1.14% +1.14 AR Antero Resources Corp. Add +27.5% 4.74% +1.05 MINE Mayfair Gold Corp. Add +6.1% 2.42% +0.05 OSISKO DEVELOPMENT CORP New 0.02% +0.02
Options Activity Q1 2026 → Q2 2026 Security Type Change vs Q1 2026 Underlying Shares Value ▼ ASTS Ast Spacemobile Inc. put Reduce -16.7% 166,500 $14.8M NVDA Nvidia Corp. put Add +56.3% 5,000 $1.0M QQQ Invesco QQQ Trust Series 1 put New 1,200 $884K GLD SPDR Gold Shares call Add +120.0% 1,100 $405K GDXJ Vaneck Junior Gold Miners call Add +100.0% 2,000 $197K SOUN Soundhound AI Inc. Class A put Reduce -28.2% 17,600 $114K GDX Vaneck Gold Miners ETF call Sold out 400 $37Kbefore exit AAOI Applied Optoelectronics Inc. call Sold out 200 $17Kbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2026 → Q2 2026 Security Class Change vs Q1 2026 Shares / Principal Value ▼ IAUX.WS I-80 Gold Corp. -26 *W EXP 11/16/202 Reduce -2.2% 12,572,868 $10.7M DRDBW Roman DBDR Acquisition -30 *W EXP 10/31/203 Reduce -52.5% 78,473 $19K MOBXW Chavrant Capital Acq -CW23 *W EXP 12/21/202 Reduce -61.8% 11,493 $1K
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 Amended 44 $261.9M IAUX, CDE, OGC, HBM, LAD Q1 2026 43 $318.3M IAUX, CDE, LAD, DIA, MGM Q4 2025 46 $346.7M IAUX, DIA, MGM, HBM, GDX Q3 2025 44 $276.2M MGM, IAUX, GDX, CDE, NGD Q2 2025 41 $238.7M MGM, IAUX, SDRL, GDX, BZH Q1 2025 46 $231.8M MGM, CAL, SDRL, MAG, GDX Q4 2024 44 $216.7M CAL, MGM, LSEA, MAG, GDX Q3 2024 44 $223.7M APLD, MGM, GDX, BZH, LSEA Q2 2024 43 $209.4M APLD, GDX, SDRL, BZH, LSEA Q1 2024 38 $226.5M APLD, VST, GSL, LSEA, OEC