Kopernik Global Investors, LLC

CIK 1599814 · View on SEC EDGAR ↗

Portfolio value
$1.6B
#1,756 of 9,443 by 13F value · top 18.6%
Positions
30
As of
June 30, 2026

Portfolio value QoQ: +14.0% 13F does not disclose cash

Top 10 holdings weight
75.72%
Top 25 holdings weight
99.94%
Positions above 1%
20
Effective number of positions
13.0

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 32.73% Est. buys $719,316,401 · sells $501,496,343

Median holding: 3.5 quarters Tracked Q4 2024–Q2 2026 · 57.7% still held

New positions
3
Increased
16
Decreased
6
Closed
4

Put-notional exposure: 0.0% puts 13F reports option positions at underlying notional value — may include hedges, not necessarily bearish bets

On this page

Performance vs S&P 500

Tracked Q4 2025–Q2 2026
+10.8%
S&P 500 total return (same window)
+8.7%
Excess return
+2.1%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 85.5% · Options excluded: 0.0%

Sector breakdown

Energy
24.6%
Materials
13.1%
Real Estate
9.9%
Telecommunication
9.6%
Technology
5.1%
Industrials
4.4%
Consumer Staples
3.3%
Financial Services
2.7%
Healthcare
2.5%
Communication Services
1.9%
Utilities
0.2%
Retail
0.0%
Other/Unmapped
22.8%

Full portfolio 30 positions

Type Streak 8Q trend
RRC Range Resources Corporation Common Stock $244,559,246 14.98% 6,575,941 $55,317,666 Up ×1
Unknown issuer (CUSIP: 811927102) $194,465,494 11.91% 7,554,992 Up ×1
EXE Expand Energy Corporation - Common Stock $157,167,150 9.63% 1,723,513 $67,846,629 Up ×2
KT KT Corporation Common Stock $156,279,249 9.57% 9,043,938 $42,124,022 Up ×1
NTR Nutrien Ltd. Common Shares $137,572,882 8.43% 2,185,431 $30,134,443 Up ×1
WY Weyerhaeuser Company Common Stock $89,976,742 5.51% 3,758,427 $43,447,584 Up ×1
CNXC Concentrix Corporation - Common Stock $71,153,038 4.36% 3,175,766 $26,629,946 Up ×1
RYN Rayonier Inc. REIT Common Stock $69,555,765 4.26% 3,268,598 $24,470,073 Up ×1
NAK $61,782,513 3.79% 32,178,392 $16,064,329 Down ×1
CRESY Cresud S.A.C.I.F. y A. - American Depositary Shares, each representing ten shares of Common Stock $53,445,289 3.27% 4,767,644 $-2,720,420 Up ×6
NICE NICE Ltd - American Depositary Shares each representing one Ordinary Share $51,149,731 3.13% 563,013 $23,480,205 Up ×1
BEN Franklin Resources, Inc. Common Stock $43,935,397 2.69% 1,320,571 $-39,268,108 Down ×1
RGLD Royal Gold, Inc. - Common Stock $42,912,757 2.63% 214,983 $20,986,153 Up ×1
CNC Centene Corporation Common Stock $41,512,700 2.54% 646,716 $-40,897,350 Down ×1
NG $41,181,502 2.52% 6,898,074 $-17,293,824 Up ×1
THM $37,347,391 2.29% 18,767,533 $-3,248,603 Up ×2
EPAM EPAM Systems, Inc. Common Stock $31,962,894 1.96% 402,809 Up ×1
CMCSA Comcast Corporation - Class A Common Stock $31,378,362 1.92% 1,278,141 $12,739,457 Up ×1
VGZ $26,834,236 1.64% 14,049,338 $-315,704 Up ×2
MOS Mosaic Company (The) Common Stock $23,713,623 1.45% 1,119,095 Up ×1
IE $9,936,452 0.61% 1,033,970 $-11,152,437 Down ×1
B Barrick Mining Corporation Common Shares $4,938,679 0.30% 134,459 $-17,905,516 Down ×4
NEM Newmont Corporation $4,700,635 0.29% 50,328 $4,618,257 Up ×1
KEP Korea Electric Power Corporation Common Stock $2,506,394 0.15% 207,140 $-445,351
IRS IRSA Inversiones Y Representaciones S.A. Global Depositary Shares (Each representing ten shares of Common Stock) $1,317,958 0.08% 85,360 $-65,778 Down ×2
PLG $549,592 0.03% 407,105 $-85,293 Up ×1
AZO AutoZone, Inc. Common Stock $260,800 0.02% 400 Put option $38,200
AMGN Amgen Inc. - Common Stock $38,010 0.00% 4,200 Put option $-37,086
AAPL Apple Inc. - Common Stock $34,000 0.00% 5,000 Put option $-78,500
ABBV AbbVie Inc. Common Stock $33,580 0.00% 4,600 Put option $-71,760

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security Value % of portfolio Streak
CRESY $53,445,289 3.27% up ×6

Biggest new bets

New positions opened this quarter, largest first.

Security Value Shares % of portfolio
Unknown issuer (CUSIP: 811927102) $194,465,494 7,554,992 11.91%
EPAM $31,962,894 402,809 1.96%
MOS $23,713,623 1,119,095 1.45%

Top movers (QoQ)

Security Action Shares Δ Value Δ
EXE Bought more +910K +$67.8M
RRC Bought more +2.4M +$55.3M
WY Bought more +1.9M +$43.4M
KT Bought more +3.7M +$42.1M
CNC Trimmed -1.9M -$40.9M
BEN Trimmed -2.2M -$39.3M
NTR Bought more +762K +$30.1M
CNXC Bought more +1.5M +$26.6M
RYN Bought more +1.1M +$24.5M
NICE Bought more +312K +$23.5M

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarter Shares before Value before Price since exit
SA June 30, 2026 7,332,863 $207,813,337 29.8%
GOLD June 30, 2025 5,044,236 $98,059,948 110.5%
WPM June 30, 2025 692,499 $53,758,697 73.0%
SLB March 31, 2026 1,306,620 $50,148,076 4.7%
MOH June 30, 2026 291,941 $38,915,735 -13.3%
ALTM March 31, 2025 7,370,438 $37,810,347 No longer tracked
SQM Dec. 31, 2025 812,944 $34,940,333 20.9%
SAND Dec. 31, 2025 1,586,602 $19,864,257 No longer tracked
HUM June 30, 2026 113,385 $19,659,825 -3.3%
BABA March 31, 2025 220,556 $18,700,943 -7.6%
AL June 30, 2026 277,612 $18,028,123 No longer tracked
AMTM Sept. 30, 2025 636,226 $15,021,296 -12.7%
BORR Dec. 31, 2025 4,983,672 $13,406,078 13.7%
NXE Sept. 30, 2025 1,760,522 $12,218,023 19.7%
PPTA June 30, 2025 1,104,398 $11,806,015 110.1%
SLV Dec. 31, 2025 141,400 $1,286,740 No longer tracked
HMY June 30, 2025 17,215 $254,266 68.4%
PAYX March 31, 2026 5,600 $179,200 32.5%
CMG June 30, 2025 5,000 $63,000 -36.1%
NXE March 31, 2025 5,205 $34,353 138.5%
NVDA June 30, 2025 15,000 $16,050 37.3%
NVO March 31, 2025 9,400 $7,896 -32.7%