Kopernik Global Investors, LLC

Registered adviser

CIK

1599814

Location

TAMPA, FL

Portfolio Value

Mid $1,633,219,624

Diversification

Diversified

Files via

Russell Investment Group, Ltd.

Filing Date

Global Rank

#1,845 / 8,818 ▼ 35

Top Industry

Oil & Gas E&P 24.6%

Period ended 4 months ago

Filed Aug 11, 2026 · 3mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 168625

Roster of Oct 1, 2026

Regulatory AUM

$10,176,761,958

Main clients

Diversified

Private funds

3 funds · Hedge funds

Focus by fund count, roster of Oct 1, 2026

$881,035,112 gross assets

Registered funds advised

2 series (0 index, 0 ETFs)

$2,970,779,383 net assets· N-CEN Oct 31, 2025

LEI

254900H2LD7BDWOTAG28

Private funds on Schedule D 7.B.(1)

As filed Mar 28, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$394,104,095 gross assets in 3 funds Hedge funds $363,876,006 (2) Private equity funds $30,228,089 (1)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$10,176,761,958	Diversified
Apr 2025 to Mar 2026	$5,515,697,989	Diversified
Apr 2024 to Mar 2025	$5,490,380,153	Diversified
May 2023 to Mar 2024	$5,654,853,917	Diversified
Apr 2023	$5,654,853,917	Diversified
Apr 2022 to Mar 2023	$6,230,111,486	Diversified

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 75.7% of the book (60%+)

Turnover

Medium turnover

67.3% over the last four quarters (30% to under 100%)

Horizon

Long horizon

Value-weighted holding period 15.0 quarters (12+), a floor since 35.9% of the book was already held when coverage starts

Closest benchmark: the S&P MidCap 400 as of 2026-06-30, active share 99.1%; sector active share 66.9% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

30 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

15.0%

+0.5 pts

Top 5

54.5%

+5.1 pts

Top 10

75.7%

+3.4 pts

HHI

769

Diversified+50

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Basic Materials	35.9%	$585,935,748	12
Energy	24.6%	$401,726,395	2
Communication Services	11.5%	$187,657,609	2
Real Estate	9.8%	$160,850,465	3
Technology	9.4%	$154,299,662	4
Industrials	3.3%	$53,445,289	1
Financial Services	2.7%	$43,935,397	1
Healthcare	2.5%	$41,584,290	3
Utilities	0.2%	$2,506,394	1
Consumer Cyclical	0.1%	$1,278,375	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

17 positions

Ticker	Company	Δ Shares	Shares	Value
KT	Kt Corp	+3,722,016	9,043,938	$156,279,248
RRC	Range Resources Corp	+2,387,327	6,575,941	$244,559,245
WY	Weyerhaeuser Co	+1,853,836	3,758,427	$89,976,742
CNXC	Concentrix Corp	+1,548,460	3,175,766	$71,153,037
THM	International Tower Hill Mines Ltd	+1,117,101	18,767,533	$37,347,390
RYN	Rayonier Inc	+1,082,095	3,268,598	$69,555,765
EXE	EXPAND ENERGY Corp	+909,881	1,723,513	$157,167,150
NTR	Nutrien Ltd.	+761,651	2,185,431	$137,572,881
CMCSA	Comcast Corp	+628,928	1,278,141	$31,378,361
NG	Novagold Resources Inc	+386,345	6,898,074	$41,181,501
CRESY	Cresud Inc	+352,101	4,767,644	$53,445,289
NICE	NICE Ltd.	+312,065	563,013	$51,149,731
SA	Seabridge Gold Inc	+222,129	7,554,992	$194,465,494
VGZ	Vista Gold Corp	+197,328	14,049,338	$26,834,235
RGLD	Royal Gold Inc	+128,824	214,983	$42,912,756
NEM	NEWMONT Corp	+49,567	50,328	$4,700,635
PLG	Platinum Group Metals Ltd	+48,413	407,105	$549,591
No positions match the current search.

Trimmed

Positions the filer reduced

6 positions

Ticker	Company	Δ Shares	Shares	Value
BEN	Franklin Templeton Inc	−2,202,016	1,320,571	$43,935,397
CNC	Centene Corp	−1,870,390	646,716	$41,512,700
IE	Ivanhoe Electric Inc.	−750,200	1,033,970	$9,936,451
NAK	Northern Dynasty Minerals Ltd	−477,454	32,178,392	$61,782,512
B	Barrick Mining Corp	−425,585	134,459	$4,938,679
IRS	Irsa Investments & Representations Inc	−3	85,360	$1,317,958
No positions match the current search.

New Positions

Positions the filer opened this quarter

2 positions

Ticker	Company	Shares	Value
EPAM	EPAM Systems, Inc.	402,809	$31,962,894
MOS	Mosaic Co	1,119,095	$23,713,623
No positions match the current search.

Sold Out

Positions the filer fully exited

3 positions

Ticker	Company	Shares	Value
MOH	Molina Healthcare, Inc.	291,941	$38,915,735
HUM	Humana Inc	113,385	$19,659,825
—		277,612	$18,028,123
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

30 tracked positions · $1,633,219,624 total · filing declares 30 positions · $1,632,202,061 · as of Jun 30, 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	Held (qtrs)	Est. cost/share	% of Portfolio
RRC	Range Resources Corp Energy	Added	6,575,941	+2,387,327	$244,559,245	+29.2%	26+	before history	14.97%
SA	Seabridge Gold Inc Basic Materials	Added	7,554,992	+222,129	$194,465,494	−6.4%	24	unpriced	11.91%
EXE	EXPAND ENERGY Corp Energy	Added	1,723,513	+909,881	$157,167,150	+76.0%	7	$95.75	9.62%
KT	Kt Corp Communication Services	Added	9,043,938	+3,722,016	$156,279,248	+36.9%	26+	before history	9.57%
NTR	Nutrien Ltd. Basic Materials	Added	2,185,431	+761,651	$137,572,881	+28.0%	7	$60.82	8.42%
WY	Weyerhaeuser Co Real Estate	Added	3,758,427	+1,853,836	$89,976,742	+93.4%	2	$24.72	5.51%
CNXC	Concentrix Corp Technology	Added	3,175,766	+1,548,460	$71,153,037	+59.8%	2	$30.90	4.36%
RYN	Rayonier Inc Real Estate	Added	3,268,598	+1,082,095	$69,555,765	+54.3%	2	$21.67	4.26%
NAK	Northern Dynasty Minerals Ltd Basic Materials	Reduced	32,178,392	-477,454	$61,782,512	+35.1%	26+	before history	3.78%
CRESY	Cresud Inc Industrials	Added	4,767,644	+352,101	$53,445,289	−4.8%	11	unpriced	3.27%
NICE	NICE Ltd. Technology	Added	563,013	+312,065	$51,149,731	+84.9%	2	$104.65	3.13%
BEN	Franklin Templeton Inc Financial Services	Reduced	1,320,571	-2,202,016	$43,935,397	−47.2%	8	$21.37	2.69%
RGLD	Royal Gold Inc Basic Materials	Added	214,983	+128,824	$42,912,756	+95.7%	26+	before history	2.63%
CNC	Centene Corp Healthcare	Reduced	646,716	-1,870,390	$41,512,700	−49.6%	4	$32.32	2.54%
NG	Novagold Resources Inc Basic Materials	Added	6,898,074	+386,345	$41,181,501	−29.6%	26+	before history	2.52%
THM	International Tower Hill Mines Ltd Basic Materials	Added	18,767,533	+1,117,101	$37,347,390	−8.0%	26+	before history	2.29%
EPAM	EPAM Systems, Inc. Technology	NEW	402,809	NEW	$31,962,894	NEW	1	$105.68	1.96%
CMCSA	Comcast Corp Communication Services	Added	1,278,141	+628,928	$31,378,361	+68.3%	3	unpriced	1.92%
VGZ	Vista Gold Corp Basic Materials	Added	14,049,338	+197,328	$26,834,235	−1.2%	20	$2.06	1.64%
MOS	Mosaic Co Basic Materials	NEW	1,119,095	NEW	$23,713,623	NEW	1	$23.12	1.45%
IE	Ivanhoe Electric Inc. Basic Materials	Reduced	1,033,970	-750,200	$9,936,451	−52.9%	16	$13.81	0.61%
B	Barrick Mining Corp Basic Materials	Reduced	134,459	-425,585	$4,938,679	−78.4%	5	$19.55	0.30%
NEM	NEWMONT Corp Basic Materials	Added	50,328	+49,567	$4,700,635	+5606.2%	7	$107.97	0.29%
KEP	Korea Electric Power Corp Utilities	Held	207,140	0	$2,506,394	−15.1%	26+	before history	0.15%
IRS	Irsa Investments & Representations Inc Real Estate	Reduced	85,360	-3	$1,317,958	−4.8%	3	$14.36	0.08%
AZO	Autozone Inc PUT Consumer Cyclical	Held	400	0	$1,278,375	+474.3%	—	—	0.08%
PLG	Platinum Group Metals Ltd Basic Materials	Added	407,105	+48,413	$549,591	−13.4%	2	$2.33	0.03%
AMGN	Amgen Inc PUT Healthcare	Held	4,200	0	$38,010	−49.4%	—	—	0.00%
AAPL	Apple Inc. PUT Technology	Held	5,000	0	$34,000	−69.8%	—	—	0.00%
ABBV	AbbVie Inc. PUT Healthcare	Held	4,600	0	$33,580	−68.1%	—	—	0.00%

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.