# EDGAR Filing Document

**Accession Number:** 0000745338
**File Stem:** 0001145549-25-047459
**Filing Date:** 2025-7
**Character Count:** 18594
**Document Hash:** 8a48c2d6710c2abe88b44a8de347f0bf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-047459.hdr.sgml**: 20250724

**ACCESSION NUMBER**: 0001145549-25-047459

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250724

**DATE AS OF CHANGE**: 20250724

**PERIOD START**: 20251130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OCM MUTUAL FUND
- **CENTRAL INDEX KEY:** 0000745338

**ORGANIZATION NAME:**
- **EIN:** 226444024
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04010
- **FILM NUMBER:** 251145877

**BUSINESS ADDRESS:**
- **STREET 1:** 2600 KITTY HAWK ROAD
- **STREET 2:** SUITE 119
- **CITY:** LIVERMORE
- **STATE:** CA
- **ZIP:** 94551
- **BUSINESS PHONE:** 414-299-2000

**MAIL ADDRESS:**
- **STREET 1:** C/O UMB FUND SERVICES, INC.
- **STREET 2:** 235 W. GALENA ST.
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212-3948

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PIA MUTUAL FUND
- **DATE OF NAME CHANGE:** 20030402

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MONTEREY MUTUAL FUND
- **DATE OF NAME CHANGE:** 19970325

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MONITREND MUTUAL FUND
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### OCM MUTUAL FUND (Series ID: S000005294)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000014470 | OCM Gold Fund - Investor Class | OCMGX           |
| C000101831 | OCM Gold Fund - Atlas Class    | OCMAX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** OCM MUTUAL FUND

- **b. Investment Company Act file number:** 811-04010

- **c. CIK number of Registrant:** 0000745338

- **d. LEI of Registrant:** 549300AKSS68PWZOHM90

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 2600 Kitty Hawk Rd

  - **City:** Livermore

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94551

  - **Telephone number:** 8007794681

**Item A.2. Information about the Series.**

- **a. Name of Series:** OCM MUTUAL FUND

- **b. EDGAR series identifier (if any):** S000005294

- **c. LEI of Series:** 5493007254B8R9O2U456

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-11-30

- **b. Date as of which information is reported:** 2025-05-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $105165272.53

**Total Liabilities:** $214649.88

**Net Assets:** $104950622.65

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000014470 | 15.59%               | 6.68%                | 8.56%                |
| Class ID C000101831 | 15.73%               | 6.72%                | 8.64%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $190333.03               | $11537849.15                               |
| Month 2  | $238442.88               | $5870062.46                                |
| Month 3  | $-3902.76                | $8240360.21                                |

### Schedule of Portfolio Investments

| Name                              | Title                             | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Jaguar Mining Inc                 | Jaguar Mining, Inc.               | CUSIP: 47009M889<br>LEI: 549300IRKN0GXIRGS617 | Long             | EC               | CORP              | CA        |   1700000 | NS      | $4632760.13   | 4.41%             |  |  |  | No            |                  1 | On Loan: No      |
| K92 Mining Inc                    | K92 Mining, Inc.                  | CUSIP: 499113108<br>LEI: 254900EA8H0X9FEVZU11 | Long             | EC               | CORP              | CA        |    175000 | NS      | $1817072.28   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Allied Gold Corp                  | Allied Gold Corp.                 | CUSIP: 01921D204<br>LEI: 894500S5G4JFSRGK8L37 | Long             | EC               | CORP              | CA        |    133333 | NS      | $1910035.94   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd            | Agnico Eagle Mines Ltd.           | CUSIP: 008474108<br>LEI: YGE0EUBRF7IJOB3QRX76 | Long             | EC               | CORP              | CA        |     65000 | NS      | $7669350.00   | 7.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamos Gold Inc                   | Alamos Gold, Inc.                 | CUSIP: 011532108<br>LEI: 549300TDOX73YGYXE959 | Long             | EC               | CORP              | CA        |    290000 | NS      | $7508100.00   | 7.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglogold Ashanti Plc             | Anglogold Ashanti Plc             | CUSIP: G0378L100<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               | CORP              | GB        |    105000 | NS      | $4600050.00   | 4.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Ausgold Ltd                       | Ausgold Ltd.                      | CUSIP: Q07063102<br>LEI: 894500N1FW604CKRQQ71 | Long             | EC               | CORP              | AU        |   1166666 | NS      | $488805.53    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Angel Wing Metals Inc             | Angel Wing Metals, Inc.           | CUSIP: 03464G206<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    350000 | NS      | $8925.97      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Aya Gold & Silver Inc             | Aya Gold & Silver, Inc.           | CUSIP: 05466C109<br>LEI: 549300BWX8KJOTUL4M51 | Long             | EC               | CORP              | CA        |    644400 | NS      | $5540600.41   | 5.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Mining Corp               | Barrick Mining Corp.              | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |    200000 | NS      | $3832000.00   | 3.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Gold Corp                 | Liberty Gold Corp.                | CUSIP: 53056H104<br>LEI: 549300DY25855R7ZV117 | Long             | EC               | CORP              | CA        |    875000 | NS      | $184895.07    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Lundin Gold Inc                   | Lundin Gold, Inc.                 | CUSIP: 550371108<br>LEI: 549300ZOV16K515FC525 | Long             | EC               | CORP              | CA        |    130000 | NS      | $6281186.24   | 5.98%             |  |  |  | No            |                  1 | On Loan: No      |
| B2Gold Corp                       | B2Gold Corp.                      | CUSIP: 11777Q209<br>LEI: 549300F7OK456M5NLM05 | Long             | EC               | CORP              | CA        |    100000 | NS      | $337000.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| B2Gold Corp                       | B2Gold Corp.                      | CUSIP: 11777Q209<br>LEI: 549300F7OK456M5NLM05 | Long             | EC               | CORP              | CA        |    500000 | NS      | $1679539.49   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Metals Ltd               | Catalyst Metals Ltd.              | CUSIP: Q2144G109<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |   1250000 | NS      | $5196918.91   | 4.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Montage Gold Corp                 | Montage Gold Corp.                | CUSIP: 61178L101<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    616500 | NS      | $2039427.28   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                      | Newmont Corp.                     | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     85000 | NS      | $4481200.00   | 4.27%             |  |  |  | No            |                  1 | On Loan: No      |
| NeXGold Mining Corp               | NeXGold Mining Corp.              | CUSIP: 65345V108<br>LEI: 25490084LOPPDXN4YK38 | Long             | EC               | CORP              | CA        |    734108 | NS      | $411879.40    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXGOLD MINING Corp. WARRANTS   / | NEXGOLD MINING Corp. WARRANTS   / | CUSIP: 999999999<br>LEI: N/A                  | Long             | DE               | CORP              | CA        |    367054 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| OceanaGold Corp                   | OceanaGold Corp.                  | CUSIP: 675222103<br>LEI: 549300CBMSE8I9N3E232 | Long             | EC               | CORP              | CA        |    500000 | NS      | $2226027.40   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Omai Gold Mines Corp              | Omai Gold Mines Corp.             | CUSIP: 682043104<br>LEI: 254900GOHPZOKN6K3C88 | Long             | EC               | CORP              | CA        |   5000000 | NS      | $1930923.93   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Orezone Gold Corp                 | Orezone Gold Corp.                | CUSIP: 68616T109<br>LEI: 529900ZRY6WGGRC9Z698 | Long             | EC               | CORP              | CA        |    500000 | NS      | $462693.09    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan American Silver Corp          | Pan American Silver Corp.         | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |     70000 | NS      | $1707300.00   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Probe Gold Inc                    | Probe Gold, Inc.                  | CUSIP: 74290F100<br>LEI: 549300KN4JVFBY70QS60 | Long             | EC               | CORP              | CA        |    325000 | NS      | $524300.50    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Perseus Mining Ltd                | Perseus Mining Ltd.               | CUSIP: Q74174105<br>LEI: 54930054ZDGKBCW3SM26 | Long             | EC               | CORP              | AU        |    800000 | NS      | $2005930.13   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio2 Ltd                          | Rio2 Ltd.                         | CUSIP: 767217102<br>LEI: 2549009N9W290I0XSE73 | Long             | EC               | CORP              | CA        |   2758000 | NS      | $2351253.28   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| RTG Mining Inc                    | RTG Mining, Inc.                  | CUSIP: G7707W178<br>LEI: N/A                  | Long             |  | CORP              | AU        |   4578755 | NS      | $100346.57    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Robex Resources Inc               | Robex Resources, Inc.             | CUSIP: 999999999<br>LEI: 529900UBILRW1I57HF58 | Long             |  | CORP              | CA        |    209004 | NS      | $418977.98    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Road Minerals Ltd           | Royal Road Minerals Ltd.          | CUSIP: G76828105<br>LEI: 54930033JDODZL6J2G22 | Long             | EC               | CORP              | JE        |   3000000 | NS      | $240454.68    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB MONEY MARKET II SPECIAL   /   | UMB MONEY MARKET II SPECIAL   /   | CUSIP: SF8888628<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   4349739 | PA      | $4349738.92   | 4.14%             |  |  |  | No            |                  1 | On Loan: No      |
| SSR Mining Inc                    | SSR Mining, Inc.                  | CUSIP: 784730103<br>LEI: 549300JD2KR7AB9DYJ38 | Long             | EC               | CORP              | US        |    100000 | NS      | $1183000.00   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Saturn Metals Ltd                 | Saturn Metals Ltd.                | CUSIP: Q8317P107<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |   1860466 | NS      | $383749.59    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Thor Explorations Ltd             | Thor Explorations Ltd.            | CUSIP: 885149104<br>LEI: 213800AXZ8468CQYVT76 | Long             | EC               | CORP              | CA        |    900000 | NS      | $445934.13    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Vizsla Royalties Corp             | Vizsla Royalties Corp.            | CUSIP: 92859L201<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    100000 | NS      | $163946.37    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Dundee Precious Metals Inc        | Dundee Precious Metals, Inc.      | CUSIP: 265269209<br>LEI: 549300LATVTU0EIUMD45 | Long             | EC               | CORP              | CA        |    250000 | NS      | $3852739.73   | 3.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Discovery Silver Corp             | Discovery Silver Corp.            | CUSIP: 254677107<br>LEI: 98450041CCB3E8QD3F53 | Long             | EC               | CORP              | CA        |    150000 | NS      | $356310.11    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Endeavour Mining PLC              | Endeavour Mining PLC              | CUSIP: G3042J105<br>LEI: 529900NI5MXQ91GHXR07 | Long             | EC               | CORP              | GB        |    118670 | NS      | $3637749.13   | 3.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Emerald Resources NL              | Emerald Resources NL              | CUSIP: Q3464L108<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    750000 | NS      | $2296313.01   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortuna Mining Corp               | Fortuna Mining Corp.              | CUSIP: 349942102<br>LEI: 5493003Q88RVK7CW4735 | Long             | EC               | CORP              | CA        |    225000 | NS      | $1316489.36   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Greatland Gold PLC                | Greatland Gold PLC                | CUSIP: G41575104<br>LEI: 213800KMN7LDF4VRPQ10 | Long             | EC               | CORP              | GB        |  12750021 | NS      | $2439373.46   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| G Mining Ventures Corp            | G Mining Ventures Corp.           | CUSIP: 36270K102<br>LEI: 894500N5AZEQU0BLOT06 | Long             | EC               | CORP              | CA        |     62500 | NS      | $925841.59    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| G2 Goldfields Inc                 | G2 Goldfields, Inc.               | CUSIP: 36256R105<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    250000 | NS      | $561060.92    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| IAMGOLD Corp                      | IAMGOLD Corp.                     | CUSIP: 450913108<br>LEI: 254900E7II30XAB9LA72 | Long             | EC               | CORP              | CA        |     50000 | NS      | $343000.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Vizsla Silver Corp                | Vizsla Silver Corp.               | CUSIP: 92859G608<br>LEI: 549300ADJF7HWIEDL366 | Long             | EC               | CORP              | CA        |    200000 | NS      | $578000.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Wesdome Gold Mines Ltd            | Wesdome Gold Mines Ltd.           | CUSIP: 95083R100<br>LEI: 254900D63U62QS84H719 | Long             | EC               | CORP              | CA        |    415000 | NS      | $5512569.22   | 5.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Wheaton Precious Metals Corp      | Wheaton Precious Metals Corp.     | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | CA        |     80000 | NS      | $6931506.85   | 6.60%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-05

**Name of Applicant:** OCM MUTUAL FUND

**Signature:** /s/ Gregory M. Orrell

**Name of Signer:** Gregory M. Orrell

**Title:** President