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Kopernik Global Investors, LLC — 13F Holdings & Portfolio

CIK 1599814 · latest 13F-HR filed 2026-05-13

Backtest portfolio

Kopernik Global Investors, LLC manages $1.43B in 13F-reported U.S. long-equity assets across 31 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are SA (14.51%), RRC (13.21%), KT (7.97%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 6 new positions, exited 1, added to 6, and trimmed 5.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM

$1.43B

Long-equity book

Holdings

31

Distinct positions

Period

2026-03-31

Filed 2026-05-13

Q/Q Activity

+6 / −1 / ↑6 / ↓5

vs 2025-12-31

Firm Profile & Key People
Name Title / Status Ownership Type

Top Adds (vs prior quarter)

  • VISTA GOLD CORP$22.3M +458.7%
  • MOLINA HEALTHCARE INC$17.1M +78.6%
  • IVANHOE ELECTRIC INC$14.2M +207.8%
  • EXPAND ENERGY CORPORATION$14.1M +18.7%
  • INTERNATIONAL TOWER HILL MIN$13.7M +51.1%
Show all 6 →

Top Trims

  • ROYAL GOLD INC-$24.7M -53.0%
  • NOVAGOLD RESOURCES INC-$20.1M -25.6%
  • BARRICK MNG CORP-$2.9M -11.1%
  • NEWMONT CORP-$2.2M -96.4%
  • KOREA ELEC PWR CORP-$1.5M -33.3%
Show all 5 →

New Positions

  • WEYERHAEUSER CO$46.5M
  • RAYONIER INC$45.1M
  • CONCENTRIX CORP$44.5M
  • NICE LTD$27.7M
  • HUMANA INC$19.7M
Show all 6 →

Exited Positions

  • SLB LIMITED$50.1M
Show all 1 →
All Holdings

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 SEABRIDGE GOLD INC SA 811916105 $207.8M 14.51% 7,332,863 SH
2 RANGE RES CORP RRC 75281A109 $189.2M 13.21% 4,188,614 SH
3 KT CORP KT 48268K101 $114.2M 7.97% 5,321,922 SH
4 NUTRIEN LTD NTR 67077M108 $107.4M 7.50% 1,423,780 SH
5 EXPAND ENERGY CORPORATION EXE 165167735 $89.3M 6.24% 813,632 SH
6 FRANKLIN RESOURCES INC BEN 354613101 $83.2M 5.81% 3,522,587 SH
7 CENTENE CORP DEL CNC 15135B101 $82.4M 5.75% 2,517,106 SH
8 NOVAGOLD RESOURCES INC NG 66987E206 $58.5M 4.08% 6,511,729 SH
9 CRESUD S A C I F Y A CRESY 226406106 $56.2M 3.92% 4,415,543 SH
10 WEYERHAEUSER CO WY 962166104 $46.5M 3.25% 1,904,591 SH
11 NORTHERN DYNASTY MINERALS LT NAK 66510M204 $45.7M 3.19% 32,655,846 SH
12 RAYONIER INC RYN 754907103 $45.1M 3.15% 2,186,503 SH
13 CONCENTRIX CORP CNXC 20602D101 $44.5M 3.11% 1,627,306 SH
14 INTERNATIONAL TOWER HILL MIN THM 46050R102 $40.6M 2.83% 17,650,432 SH
15 MOLINA HEALTHCARE INC MOH 60855R100 $38.9M 2.72% 291,941 SH
16 NICE LTD NICE 653656108 $27.7M 1.93% 250,948 SH
17 VISTA GOLD CORP VGZ 927926303 $27.1M 1.90% 13,852,010 SH
18 BARRICK MNG CORP B 06849F108 $22.8M 1.60% 560,044 SH
19 ROYAL GOLD INC RGLD 780287108 $21.9M 1.53% 86,159 SH
20 IVANHOE ELECTRIC INC IE 46578C108 $21.1M 1.47% 1,784,170 SH
21 HUMANA INC HUM 444859102 $19.7M 1.37% 113,385 SH
22 COMCAST CORP NEW CMCSA 20030N101 $18.6M 1.30% 649,213 SH
23 AIR LEASE CORP AL 00912X302 $18.0M 1.26% 277,612 SH
24 KOREA ELEC PWR CORP KEP 500631106 $3.0M 0.21% 207,140 SH
25 IRSA INVERSIONES Y REP S A IRS 450047303 $1.4M 0.10% 85,363 SH
26 PLATINUM GROUP METALS LTD PLG 72765Q882 $634.9K 0.04% 358,692 SH
27 AUTOZONE INC Put AZO 053332102 $222.6K 0.02% 400 SH
28 APPLE INC Put AAPL 037833100 $112.5K 0.01% 5,000 SH
29 ABBVIE INC Put ABBV 00287Y109 $105.3K 0.01% 4,600 SH
30 NEWMONT CORP NEM 651639106 $82.4K 0.01% 761 SH
31 AMGEN INC Put AMGN 031162100 $75.1K 0.01% 4,200 SH
Filing History
Period Filed AUM Holdings Accession
2026-03-31 2026-05-13 $1.43B 31 0001599814-26-000003
2025-12-31 2026-02-13 $1.25B 27 0001599814-26-000002
2025-09-30 2025-11-14 $1.23B 28 0001599814-25-000011