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KGI

Kopernik Global Investors Portfolio holdings

AUM $1.43B
1-Year Est. Return 63.57%
This Fund
S&P 500
This Quarter Est. Return
+18.79%
1 Year Est. Return
+63.57%
3 Year Est. Return
+151.94%
5 Year Est. Return
+287.31%
10 Year Est. Return
+695.98%
AUM
$991M
AUM Growth
+$80.9M
Cap. Flow
-$41.9M
Cap. Flow %
-4.23%
Top 10 Hldgs %
76.36%
Holding
41
New
4
Increased
11
Reduced
10
Closed
4

Top Buys

Rank Stock Value
1
SKYW icon
Skywest
SKYW
+$44.4M
2
CCJ icon
Cameco
CCJ
+$28M
3
WPM icon
Wheaton Precious Metals
WPM
+$26.6M
4
CS
Credit Suisse Group
CS
+$18.1M
5
SWN
Southwestern Energy Company
SWN
+$17.3M

Top Sells

Rank Stock Value
1
TRQ
Turquoise Hill Resources Ltd
TRQ
+$115M
2
GDX icon
VanEck Gold Miners ETF
GDX
+$30.2M
3
HMY icon
Harmony Gold Mining
HMY
+$26.9M
4
RGLD icon
Royal Gold
RGLD
+$11.5M
5
TEN
Tsakos Energy Navigation Ltd
TEN
+$10.4M

Sector Composition

Rank Sector Weight
1 Materials 43.03%
2 Energy 26.49%
3 Communication Services 11.52%
4 Industrials 6.9%
5 Technology 2.7%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KT icon
1
KT
KT
$8.66B
$106M 10.72%
7,870,242
-125,047
-2% -$1.66M
WPM icon
2
Wheaton Precious Metals
WPM
$55.8B
$103M 10.36%
2,626,525
+736,154
+39% +$26.6M
SWN
3
DELISTED
Southwestern Energy Company
SWN
$92.1M 9.29%
15,737,164
+2,638,602
+20% +$17.3M
CCJ icon
4
Cameco
CCJ
$41.1B
$88.3M 8.92%
3,897,115
+1,192,239
+44% +$28M
RRC icon
5
Range Resources
RRC
$8.91B
$82M 8.28%
3,278,676
+342,741
+12% +$9.38M
RGLD icon
6
Royal Gold
RGLD
$18.3B
$70.4M 7.11%
624,635
-111,328
-15% -$11.5M
IAG icon
7
IAMGOLD
IAG
$9.18B
$62M 6.26%
24,042,429
+239,188
+1% +$415K
HMY icon
8
Harmony Gold Mining
HMY
$11.3B
$58.6M 5.92%
17,245,360
-8,544,538
-33% -$26.9M
NG icon
9
NovaGold Resources
NG
$3.02B
$52.3M 5.28%
8,754,173
+1,944,885
+29% +$10.4M
SKYW icon
10
Skywest
SKYW
$4.6B
$41.8M 4.22%
+2,531,308
New +$44.4M
SA
11
Seabridge Gold
SA
$3.14B
$33.7M 3.4%
2,675,694
-815,622
-23% -$9.66M
CS
12
DELISTED
Credit Suisse Group
CS
$29.6M 2.99%
9,736,174
+4,643,341
+91% +$18.1M
SABR icon
13
Sabre
SABR
$838M
$26.7M 2.7%
4,322,131
+1,905,274
+79% +$10.6M
SII
14
Sprott
SII
$2.98B
$20.7M 2.09%
622,482
– –
PPTA
15
Perpetua Resources
PPTA
$2.87B
$15.3M 1.55%
5,250,591
– –
AL
16
DELISTED
Air Lease Corp
AL
$15.1M 1.52%
392,025
-61,025
-13% -$2.2M
KEP icon
17
Korea Electric Power
KEP
$15.9B
$14.3M 1.45%
1,660,792
– –
IE icon
18
Ivanhoe Electric
IE
$1.69B
$13.5M 1.37%
1,114,117
+1,841
+0.2% +$19.3K
SABRP
19
DELISTED
Sabre Corporation 6.50% Series A Mandatory Convertible Preferred Stock
SABRP
– –
0
– –
GDX icon
20
VanEck Gold Miners ETF
GDX
$25.5B
$9.22M 0.93%
321,592
-1,130,076
-78% -$30.2M
HY icon
21
Hyster-Yale Materials Handling
HY
$725M
$8.43M 0.85%
333,117
-13,937
-4% -$388K
VEON icon
22
VEON
VEON
$3.78B
$7.85M 0.79%
640,730
– –
NAK
23
Northern Dynasty Minerals
NAK
$947M
$7.07M 0.71%
32,005,333
+148,709
+0.5% +$35.9K
BABA icon
24
Alibaba
BABA
$308B
$6.7M 0.68%
+76,005
New +$5.99M
THM
25
International Tower Hill Mines
THM
$555M
$5.97M 0.6%
14,047,222
– –
1
2

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Kopernik Global Investors's Q4 2022 Portfolio in Review

As of Q4 2022, Kopernik Global Investors held 41 positions worth $991M, up 8.9% from $910M the previous quarter. Its ten largest holdings account for 76% of the portfolio.

Kopernik Global Investors withdrew a net $41.9M in Q4 2022, closing 4 positions and reducing 10 holdings. Its most notable exit was Turquoise Hill Resources Ltd, an estimated $115M position sold in full.

By sector, the portfolio is most concentrated in Materials at 43% of assets, down from 49% a quarter earlier, followed by Energy and Communication Services.

Against the trend, Kopernik Global Investors opened a new position in Skywest worth $41.8M.

  • Kopernik Global Investors's largest Q4 2022 buy was Skywest: 2,531,308 shares worth $41.8M.
  • Kopernik Global Investors added most to Cameco in Q4 2022, an estimated $28M increase.
  • Kopernik Global Investors's biggest Q4 2022 reduction was VanEck Gold Miners ETF, cutting an estimated $30.2M.
  • Kopernik Global Investors fully exited Turquoise Hill Resources Ltd in Q4 2022, selling an estimated $115M.
  • Kopernik Global Investors's ten largest holdings make up 76% of its $991M portfolio in Q4 2022.
  • Kopernik Global Investors opened 4 new positions and closed 4 in Q4 2022.
  • Kopernik Global Investors's portfolio value rose 8.9% quarter-over-quarter to $991M.

Based on Kopernik Global Investors's 13F filing for Q4 2022, filed 13 Feb 2023.