9AT: NOKOMIS CAPITAL, L.L.C.

Adviser Profile

As of Date	03/23/2026
Registration	SEC, Approved, 04/17/2012
Other registrations (1)	Texas, Terminated, 02/22/2013
ADV Location	DALLAS, TX, United States
Contact Info	972 xxxxxxx

AUM^*	804,159,000 25%
of that, discretionary	804,159,000 25%
Number of Employees	5
of those in investment advisory functions	3
Private Fund GAV^*	636,705,000 34%
Avg Account Size	402,079,500 25%
SMA’s	Yes
Private Funds	3

Adviser Type

- Large advisory firm

Client Types

- Pooled investment vehicles
- Charitable organizations

Advisory Activities

- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

	Count	GAV
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Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser ENGLE CAPITAL MANAGEMENT, L.P.	Hedge Fund398.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV398.5m	AUM492.4m	#Funds3
Adviser ORIBEL CAPITAL MANAGEMENT, LP	Hedge Fund101.1m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV101.1m	AUM1.4b	#Funds3
Adviser ORANGE INVESTMENT ADVISORS, LLC	Hedge Fund22.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV22.2m	AUM765.0m	#Funds1
Adviser 272 CAPITAL LP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM141.9m	#Funds-
Adviser ARDMORE ROAD ASSET MANAGEMENT LP	Hedge Fund69.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV69.7m	AUM2.8b	#Funds3
Adviser SKAANA MANAGEMENT L.P.	Hedge Fund233.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV233.7m	AUM233.7m	#Funds1
Adviser LOGAN STONE	Hedge Fund526.9m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV526.9m	AUM664.3m	#Funds2
Adviser IRENIC CAPITAL MANAGEMENT LP	Hedge Fund1.7b	Liquidity Fund-	Private Equity Fund655.5m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV2.4b	AUM2.4b	#Funds17
Adviser ARVIN CAPITAL MANAGEMENT LP	Hedge Fund450.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV450.2m	AUM953.4m	#Funds3
Adviser NIGHT OWL CAPITAL MANAGEMENT, LLC	Hedge Fund185.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV185.8m	AUM1.1b	#Funds1

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker44955L106	Stock NameI-80 GOLD CORP	$ Position$26,507,598	% Position9.00%	$ Change-21.00%	# Change-17.00%
Stck Ticker192108504	Stock NameCOEUR MNG INC	$ Position$22,228,232	% Position8.00%	$ Change-29.00%	# Change-18.00%
Stck Ticker443628102	Stock NameHUDBAY MINERALS INC	$ Position$18,315,103	% Position6.00%	$ Change93.00%	# Change71.00%
Stck Ticker536797103	Stock NameLITHIA MTRS INC	$ Position$18,268,335	% Position6.00%	$ Change-3.00%	# Change-16.00%
Stck Ticker675222400	Stock NameOCEANAGOLD CORP	$ Position$18,479,580	% Position6.00%	$ Change	# Change
Stck Ticker00217D100	Stock NameAST SPACEMOBILE INC (PUT)	$ Position$14,795,190	% Position5.00%	$ Change-11.00%	# Change-17.00%
Stck Ticker07556Q881	Stock NameBEAZER HOMES USA INC	$ Position$14,282,218	% Position5.00%	$ Change24.00%	# Change-15.00%
Stck Ticker03674X106	Stock NameANTERO RESOURCES CORP	$ Position$12,425,574	% Position4.00%	$ Change6.00%	# Change28.00%
Stck Ticker44955L155	Stock NameI-80 GOLD CORP	$ Position$10,686,938	% Position4.00%	$ Change-13.00%	# Change-2.00%
Stck Ticker39525U107	Stock NameGREENFIRE RES LTD NEW	$ Position$9,111,083	% Position3.00%	$ Change-18.00%	# Change-8.00%

Brochure Summary

Overview

Nokomis Capital, L.L.C., founded in October 2007, is an investment services firm specializing in investment management for hedge funds and separately managed accounts for certain clients. The principal owner of our firm is Brett A. Hendrickson. We currently manage a private pooled investment master-feeder fund structure wherein the feeder funds place their assets in the master fund and the investment program is conducted at the master-fund level (collectively, the “fund clients”) and a separately managed account for an institutional client (the “managed account client”). Although the master fund described in Section 7.B.(1) of Schedule D of our Part 1A of Form ADV is treated as our client for purposes of our Part 1A of Form ADV, the fund clients and the managed account client are referred to collectively herein as our “clients”. This firm brochure is not an offer to invest in our fund clients. We perform a detailed analysis and modeling of individual companies for our clients against a backdrop of analysis of pricing trends for various markets. We utilize a range of investment strategies for our clients,

including investing in publicly traded equity securities, both long and short, as well as in a broad array of other securities in public markets. We employ a long/short strategy to both mitigate risk as well as maximize returns. For more information on the investment strategy of our clients, please see Item 5: Method of Analysis, Investment Strategy and Risk of Loss. Our firm tailors our advisory services in accordance with our clients’ needs and investment strategy as disclosed in the offering documents of the feeder funds or the managed account agreement, as applicable. Our clients generally may not impose restrictions on our ability to invest in certain securities or types of securities, other than the restrictions set forth in the offering documents of the feeder funds and the managed account agreement with our managed account client, as applicable. We do not participate in any wrap fee programs. As of December 31, 2023, we manage $641,299,648 of client regulatory assets on a discretionary basis. We do not manage any client assets on a non-discretionary basis.

NOKOMIS CAPITAL, L.L.C.

NOKOMIS CAPITAL, L.L.C.

Adviser Profile

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Private Funds Structure

Similar advisers

Top Holdings

Brochure Summary

Overview

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NOKOMIS CAPITAL, L.L.C. NOKOMIS CAPITAL, L.L.C.

Adviser Profile

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Private Funds Structure

Similar advisers

Top Holdings

Brochure Summary

Overview

NOKOMIS CAPITAL, L.L.C.

NOKOMIS CAPITAL, L.L.C.