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Kopernik Global Investors, LLC
hedge fundUpdated 30 days agoManaged by Kopernik Global Investors, Llc • Latest filing Q2 2026
Portfolio value
$1.6B
Q2 2026
Filings
14
Quarterly 13F history
Top-10 concentration
100.0%
Weight of largest holdings
Annualized return
14.2%
Implied from 13F holdings
Portfolio value history
13F-disclosed portfolio value over 14 quarters
Show data table
| Period | Portfolio value |
|---|---|
| Q1 2023 | $961.2M |
| Q2 2023 | $976.4M |
| Q3 2023 | $861.4M |
| Q4 2023 | $965.6M |
| Q1 2024 | $953.4M |
| Q2 2024 | $887.5M |
| Q3 2024 | $999.9M |
| Q4 2024 | $935.4M |
| Q1 2025 | $964.8M |
| Q2 2025 | $910.8M |
| Q3 2025 | $1.2B |
| Q4 2025 | $1.3B |
| Q1 2026 | $1.4B |
| Q2 2026 | $1.6B |
Top holdings
30 positions as of Q2 2026
| # | Stock | Value | Shares | % Portfolio | Change |
|---|---|---|---|---|---|
| 1 | R RRC RANGE RES CORP | $244.6M | 6.58M | 14.98% | — |
| 2 | S SA SEABRIDGE GOLD INC | $194.5M | 7.55M | 11.91% | — |
| 3 | E EXE EXPAND ENERGY CORPORATION | $157.2M | 1.72M | 9.63% | — |
| 4 | K KT KT CORP | $156.3M | 9.04M | 9.57% | — |
| 5 | N NTR NUTRIEN LTD | $137.6M | 2.19M | 8.43% | — |
| 6 | W WY WEYERHAEUSER CO | $90M | 3.76M | 5.51% | — |
| 7 | C CNXC CONCENTRIX CORP | $71.2M | 3.18M | 4.36% | — |
| 8 | R RYN RAYONIER INC | $69.6M | 3.27M | 4.26% | — |
| 9 | N NAK NORTHERN DYNASTY MINERALS LT | $61.8M | 32.18M | 3.79% | — |
| 10 | ? N/A CRESUD S A C I F Y A | $53.4M | 4.77M | 3.27% | — |
| 11 | N NCSYF NICE LTD | $51.1M | 563.0K | 3.13% | — |
| 12 | B BEN FRANKLIN RESOURCES INC | $43.9M | 1.32M | 2.69% | — |
| 13 | R RGLD ROYAL GOLD INC | $42.9M | 215.0K | 2.63% | — |
| 14 | C CNC CENTENE CORP DEL | $41.5M | 646.7K | 2.54% | — |
| 15 | N NG NOVAGOLD RESOURCES INC | $41.2M | 6.90M | 2.52% | — |
| 16 | T THM INTERNATIONAL TOWER HILL MIN | $37.3M | 18.77M | 2.29% | — |
| 17 | E EPAM EPAM SYS INC | $32M | 402.8K | 1.96% | — |
| 18 | C CCZ COMCAST CORP NEW | $31.4M | 1.28M | 1.92% | — |
| 19 | V VGZ VISTA GOLD CORP | $26.8M | 14.05M | 1.64% | — |
| 20 | M MOS MOSAIC CO | $23.7M | 1.12M | 1.45% | — |