Kopernik Global Investors, LLC

CIK

1599814

Location

TAMPA, FL

Portfolio Value

Mid $1,436,748,571

Diversification

Diversified

Filing Date

Global Rank

#1,437 / 8,622 ▲ 162 · as of Mar 2026

Top Industry

Gold 26.4%

3Y Alpha vs SPY

+21.5%

Period ended 4 months ago

Filed May 14, 2026 · 3mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+176.8%

SPY

+67.9%

Annualised alpha

+21.6%

Max drawdown

−16.5%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 99% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

31 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

14.5%

−2.0 pts

Top 5

49.3%

−5.8 pts

Top 10

72.0%

−9.9 pts

HHI

714

Diversified−159

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Basic Materials	38.5%	$553,768,165	11
Energy	19.4%	$278,562,100	2
Healthcare	10.0%	$143,463,834	5
Communication Services	9.2%	$132,794,131	2
Real Estate	6.5%	$92,998,583	3
Financial Services	5.8%	$83,203,504	1
Industrials	5.2%	$74,193,829	2
Technology	5.1%	$73,461,568	3
Utilities	0.2%	$2,951,745	1
Consumer Cyclical	0.1%	$1,351,112	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

11 positions

Ticker	Company	Δ Shares	Shares	Value
VGZ	Vista Gold Corp	+11,385,421	13,852,010	$27,149,939
NAK	Northern Dynasty Minerals Ltd	+10,994,668	32,655,846	$45,718,184
THM	International Tower Hill Mines Ltd	+3,202,014	17,650,432	$40,595,993
IE	Ivanhoe Electric Inc.	+1,355,418	1,784,170	$21,088,889
CNC	Centene Corp	+492,054	2,517,106	$82,410,050
SA	Seabridge Gold Inc	+353,252	7,332,863	$207,813,337
CRESY	Cresud Inc	+168,662	4,415,543	$56,165,706
MOH	Molina Healthcare, Inc.	+166,407	291,941	$38,915,735
BEN	Franklin Resources Inc	+153,422	3,522,587	$83,203,504
EXE	EXPAND ENERGY Corp	+132,053	813,632	$89,320,520
AMGN	Amgen Inc	+1,100	4,200	$1,477,770
No positions match the current search.

Trimmed

Positions the filer reduced

10 positions

Ticker	Company	Δ Shares	Shares	Value
NG	Novagold Resources Inc	−1,917,650	6,511,729	$58,475,326
RRC	Range Resources Corp	−1,050,289	4,188,614	$189,241,580
KT	Kt Corp	−446,830	5,321,922	$114,155,226
NTR	Nutrien Ltd.	−329,879	1,423,780	$107,438,438
RGLD	Royal Gold Inc	−123,519	86,159	$21,926,603
KEP	Korea Electric Power Corp	−61,011	207,140	$2,951,745
B	Barrick Mining Corp	−30,007	560,044	$22,844,194
NEM	NEWMONT Corp /DE/	−22,440	761	$82,378
AL	SUMISHO AIR LEASE CORP	−7,401	277,612	$18,028,123
IRS	Irsa Investments & Representations Inc	−3	85,363	$1,383,734
No positions match the current search.

New Positions

Positions the filer opened this quarter

6 positions

Ticker	Company	Shares	Value
WY	Weyerhaeuser Co	1,904,591	$46,529,158
RYN	Rayonier Inc	2,186,503	$45,085,691
CNXC	Concentrix Corp	1,627,306	$44,523,092
NICE	NICE Ltd.	250,948	$27,669,526
HUM	Humana Inc	113,385	$19,659,825
PLG	Platinum Group Metals Ltd	358,692	$634,884
No positions match the current search.

Sold Out

Positions the filer fully exited

2 positions

Ticker	Company	Shares	Value
SLB	Slb Limited/Nv	1,306,620	$50,148,075
PAYX	Paychex Inc	5,600	$628,208
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

31 tracked positions · $1,436,748,571 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SA	Seabridge Gold Inc Basic Materials	Added	7,332,863	+353,252	$207,813,337	+0.6%	14.46%
RRC	Range Resources Corp Energy	Reduced	4,188,614	-1,050,289	$189,241,580	+2.4%	13.17%
KT	Kt Corp Communication Services	Reduced	5,321,922	-446,830	$114,155,226	+4.3%	7.95%
NTR	Nutrien Ltd. Basic Materials	Reduced	1,423,780	-329,879	$107,438,438	−0.7%	7.48%
EXE	EXPAND ENERGY Corp Energy	Added	813,632	+132,053	$89,320,520	+18.7%	6.22%
BEN	Franklin Resources Inc Financial Services	Added	3,522,587	+153,422	$83,203,504	+3.4%	5.79%
CNC	Centene Corp Healthcare	Added	2,517,106	+492,054	$82,410,050	−1.1%	5.74%
NG	Novagold Resources Inc Basic Materials	Reduced	6,511,729	-1,917,650	$58,475,326	−25.6%	4.07%
CRESY	Cresud Inc Industrials	Reduced	4,415,543	-4,354,419	$56,165,706	−49.3%	3.91%
WY	Weyerhaeuser Co Real Estate	NEW	1,904,591	NEW	$46,529,158	NEW	3.24%
NAK	Northern Dynasty Minerals Ltd Basic Materials	Added	32,655,846	+10,994,668	$45,718,184	+7.1%	3.18%
RYN	Rayonier Inc Real Estate	NEW	2,186,503	NEW	$45,085,691	NEW	3.14%
CNXC	Concentrix Corp Technology	NEW	1,627,306	NEW	$44,523,092	NEW	3.10%
THM	International Tower Hill Mines Ltd Basic Materials	Added	17,650,432	+3,202,014	$40,595,993	+51.1%	2.83%
MOH	Molina Healthcare, Inc. Healthcare	Added	291,941	+166,407	$38,915,735	+78.6%	2.71%
NICE	NICE Ltd. Technology	NEW	250,948	NEW	$27,669,526	NEW	1.93%
VGZ	Vista Gold Corp Basic Materials	Added	13,852,010	+11,385,421	$27,149,939	+458.7%	1.89%
B	Barrick Mining Corp Basic Materials	Reduced	560,044	-30,007	$22,844,194	−11.1%	1.59%
RGLD	Royal Gold Inc Basic Materials	Reduced	86,159	-123,519	$21,926,603	−53.0%	1.53%
IE	Ivanhoe Electric Inc. Basic Materials	Added	1,784,170	+1,355,418	$21,088,889	+207.8%	1.47%
HUM	Humana Inc Healthcare	NEW	113,385	NEW	$19,659,825	NEW	1.37%
CMCSA	Comcast Corp Communication Services	Held	649,213	0	$18,638,905	−3.9%	1.30%
AL	SUMISHO AIR LEASE CORP Industrials	Reduced	277,612	-7,401	$18,028,123	−1.5%	1.25%
KEP	Korea Electric Power Corp Utilities	Reduced	207,140	-61,011	$2,951,745	−33.3%	0.21%
AMGN	Amgen Inc PUT Healthcare	Added	4,200	+1,100	$1,477,770	+45.6%	0.10%
IRS	Irsa Investments & Representations Inc Real Estate	Reduced	85,363	-3	$1,383,734	−2.0%	0.10%
AZO	Autozone Inc PUT Consumer Cyclical	Held	400	0	$1,351,112	−0.4%	0.09%
AAPL	Apple Inc. PUT Technology	Held	5,000	0	$1,268,950	−6.6%	0.09%
ABBV	AbbVie Inc. PUT Healthcare	Held	4,600	0	$1,000,454	−4.8%	0.07%
PLG	Platinum Group Metals Ltd Basic Materials	NEW	358,692	NEW	$634,884	NEW	0.04%
NEM	NEWMONT Corp /DE/ Basic Materials	Reduced	761	-22,440	$82,378	−96.4%	0.01%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.