Nokomis Capital, L.L.C.
Long book
$330.7M
Q1 2026
Positions
47
Top-10 weight
54%
concentration
Last quarter
-0.3%
SPY +14.8%
Turnover
27%
of book per quarter
Strategy in plain words
auto-generated from filingsNokomis Capital, L.L.C. is a concentrated fundamental stock-picker, running a $330.7M US long book across 47 positions.
The portfolio is concentrated: the top 10 names carry 54% of the portfolio. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: I-80 GOLD CORP, COEUR MINING INC, LITHIA MOTORS INC, SS SPDR DOW JONES INDUS AVG, MGM RESORTS INTERNATIONAL.
Over the last 9 quarters its long book ran on average 1.7pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+10.4%
Q2 2024
+9.7%
Q3 2024
-4.7%
Q4 2024
-5.7%
Q1 2025
+7.8%
Q2 2025
+23.1%
Q3 2025
+11.0%
Q4 2025
+4.2%
Q1 2026
-0.3%
Sector allocation
Materials 54%
Energy 15%
Consumer discretionary 11%
Services media 7%
Industrials 5%
Other 4%
Real estate 1%
Financials 1%
Long book by quarter
What does Nokomis Capital, own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| IAUX I-80 GOLD CORP | Materials | 22.2M | $33.7M | 10.2% | -3.0% |
| CDE COEUR MINING INC | Materials | 1.7M | $31.2M | 9.4% | +128.3% |
| LAD LITHIA MOTORS INC | Consumer discretionary | 75.2K | $18.8M | 5.7% | +820.7% |
| MGM MGM RESORTS INTERNATIONAL | Services media | 419.3K | $15.5M | 4.7% | -35.3% |
| NXE NEXGEN ENERGY LTD | Materials | 1.3M | $15.0M | 4.5% | -18.9% |
| AR ANTERO RESOURCES CORP | Energy | 277.3K | $11.8M | 3.6% | -17.3% |
| BZH BEAZER HOMES USA INC | Industrials | 600.7K | $11.6M | 3.5% | -4.1% |
| GFR GREENFIRE RESOURCES LTD | Energy | 1.8M | $11.1M | 3.3% | -17.1% |
| DC DAKOTA GOLD CORP | Materials | 2.0M | $10.1M | 3.1% | +35.4% |
| ITRG INTEGRA RESOURCES CORP | Materials | 3.5M | $9.7M | 2.9% | New |
| HBM HUDBAY MINERALS INC | Materials | 453.7K | $9.5M | 2.9% | -47.7% |
| SHOE SHOE STATION GROUP INC | Consumer discretionary | 537.8K | $8.4M | 2.5% | -13.2% |
| OVV OVINTIV INC | Energy | 132.3K | $7.9M | 2.4% | +626.7% |
| MINE MAYFAIR GOLD CORP | Materials | 2.4M | $7.5M | 2.3% | New |
| ODV OSISKO DEVELOPMENT CORP | Materials | 2.0M | $6.5M | 2.0% | Held |
| CVE CENOVUS ENERGY INC | Energy | 174.7K | $4.6M | 1.4% | New |
| CTRA COTERRA ENERGY INC | — | 119.6K | $4.2M | 1.3% | -63.2% |
| LWLG LIGHTWAVE LOGIC INC | Other | 575.2K | $4.0M | 1.2% | -23.3% |
| VZLA VIZSLA SILVER CORP | Materials | 1.1M | $3.5M | 1.0% | -8.2% |
| MLP MAUI LAND & PINEAPPLE CO | Real estate | 212.2K | $3.3M | 1.0% | +57.9% |
| CNTY CENTURY CASINOS INC | Services media | 1.9M | $2.7M | 0.8% | -11.4% |
| CRGY CRESCENT ENERGY INC-A | Energy | 175.0K | $2.4M | 0.7% | -19.7% |
| HNRG HALLADOR ENERGY CO | Utilities | 135.0K | $2.2M | 0.7% | -72.9% |
| AGI ALAMOS GOLD INC-CLASS A | Materials | 39.1K | $1.7M | 0.5% | -19.2% |
| OTGA OTG ACQUISITION CORP I-CL A | Financials | 161.6K | $1.6M | 0.5% | -31.2% |
| BMM BLUE MOON METALS INC | Materials | 244.9K | $1.6M | 0.5% | New |
| DRDB ROMAN DBDR ACQUISITION CORP | Financials | 130.0K | $1.4M | 0.4% | Held |
| PPTA PERPETUA RESOURCES CORP | Materials | 47.6K | $1.3M | 0.4% | -23.2% |
| JILL J. JILL INC | Other | 115.9K | $1.3M | 0.4% | New |
| ARKR ARK RESTAURANTS CORP | Consumer discretionary | 114.9K | $754K | 0.2% | +7.1% |
| AAOI APPLIED OPTOELECTRONICS INC | Technology | 7.9K | $668K | 0.2% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 55 | $348.6M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 62 | $422.4M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 59 | $375.7M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 50 | $301.3M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 57 | $281.2M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 57 | $280.6M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 55 | $294.3M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 57 | $280.8M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 53 | $299.5M | canonical | SEC ↗ |
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