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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
+0.23%
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
$861M
AUM Growth
-$115M
Cap. Flow
-$114M
Cap. Flow %
-13.25%
Top 10 Hldgs %
86.8%
Holding
35
New
5
Increased
2
Reduced
12
Closed
1

Top Buys

Rank Stock Value
1
NEM icon
Newmont
NEM
+$14.4M
2
HMY icon
Harmony Gold Mining
HMY
+$11M
3
VGZ icon
Vista Gold
VGZ
+$248K

Top Sells

Rank Stock Value
1
CCJ icon
Cameco
CCJ
+$49M
2
B
Barrick Mining
B
+$29.3M
3
IE icon
Ivanhoe Electric
IE
+$14.6M
4
BABA icon
Alibaba
BABA
+$14M
5
SWN
Southwestern Energy Company
SWN
+$13.1M

Sector Composition

Rank Sector Weight
1 Materials 51.34%
2 Energy 28.81%
3 Communication Services 15.52%
4 Industrials 3.08%
5 Utilities 1.19%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SWN
1
DELISTED
Southwestern Energy Company
SWN
$135M 15.62%
20,864,370
-2,061,882
-9% -$13.1M
KT icon
2
KT
KT
$8.8B
$134M 15.52%
10,425,841
-380,382
-4% -$4.58M
WPM icon
3
Wheaton Precious Metals
WPM
$56.2B
$104M 12.11%
2,572,186
– –
RRC icon
4
Range Resources
RRC
$9.06B
$98M 11.38%
3,024,423
-278,246
-8% -$8.7M
HMY icon
5
Harmony Gold Mining
HMY
$11.2B
$68.7M 7.97%
18,266,037
+2,674,598
+17% +$11M
RGLD icon
6
Royal Gold
RGLD
$18.1B
$63.6M 7.38%
598,081
– –
NG icon
7
NovaGold Resources
NG
$3.01B
$39.2M 4.56%
10,220,852
-1,677,228
-14% -$7.05M
B
8
Barrick Mining
B
$68.8B
$38.4M 4.46%
2,641,449
-1,784,678
-40% -$29.3M
IAG icon
9
IAMGOLD
IAG
$9.11B
$38.4M 4.46%
17,875,791
– –
SA
10
Seabridge Gold
SA
$3.1B
$28.8M 3.34%
2,728,409
– –
PPTA
11
Perpetua Resources
PPTA
$2.83B
$17.1M 1.99%
5,250,591
– –
CCJ icon
12
Cameco
CCJ
$41.2B
$15.6M 1.81%
392,812
-1,384,585
-78% -$49M
NEM icon
13
Newmont
NEM
$111B
$13.1M 1.52%
+354,613
New +$14.4M
SKYW icon
14
Skywest
SKYW
$4.46B
$12.6M 1.46%
299,702
-13,254
-4% -$556K
SAND
15
DELISTED
Sandstorm Gold
SAND
$11.3M 1.31%
2,416,495
– –
AL
16
DELISTED
Air Lease Corp
AL
$10.7M 1.24%
270,265
-3,953
-1% -$163K
NAK
17
Northern Dynasty Minerals
NAK
$913M
$10.4M 1.21%
32,070,691
– –
KEP icon
18
Korea Electric Power
KEP
$16B
$10.2M 1.19%
1,585,550
– –
THM
19
International Tower Hill Mines
THM
$547M
$4.94M 0.57%
14,047,222
– –
AER icon
20
AerCap
AER
$24.3B
$3.28M 0.38%
52,267
– –
IE icon
21
Ivanhoe Electric
IE
$1.72B
$2.43M 0.28%
204,004
-973,364
-83% -$14.6M
VGZ icon
22
Vista Gold
VGZ
$289M
$1.47M 0.17%
3,421,561
+505,200
+17% +$248K
LLY icon
23
PUT
Eli Lilly
LLY
$1.05T
$183K 0.02%
+2,300
New +$1.19M
NVO
24
PUT
Novo Nordisk
NVO
$201B
$113K 0.01%
+15,600
New +$1.37M
SLV icon
25
CALL
iShares Silver Trust
SLV
$29.5B
$99K 0.01%
417,000
-53,800
-11% -$1.16M
1
2

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ICA
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Kopernik Global Investors's Q3 2023 Portfolio in Review

As of Q3 2023, Kopernik Global Investors held 35 positions worth $861M, down 12% from $976M the previous quarter. Its ten largest holdings account for 87% of the portfolio.

Kopernik Global Investors withdrew a net $114M in Q3 2023, closing 1 position and reducing 12 holdings. Its most notable exit was Alibaba, an estimated $14M position sold in full.

By sector, the portfolio is most concentrated in Materials at 51% of assets, down from 52% a quarter earlier, followed by Energy and Communication Services.

Against the trend, Kopernik Global Investors opened a new position in Newmont worth $13.1M.

  • Kopernik Global Investors's largest Q3 2023 buy was Newmont: 354,613 shares worth $13.1M.
  • Kopernik Global Investors added most to Harmony Gold Mining in Q3 2023, an estimated $11M increase.
  • Kopernik Global Investors's biggest Q3 2023 reduction was Cameco, cutting an estimated $49M.
  • Kopernik Global Investors fully exited Alibaba in Q3 2023, selling an estimated $14M.
  • Kopernik Global Investors's ten largest holdings make up 87% of its $861M portfolio in Q3 2023.
  • Kopernik Global Investors opened 5 new positions and closed 1 in Q3 2023.
  • Kopernik Global Investors's portfolio value fell 12% quarter-over-quarter to $861M.

Based on Kopernik Global Investors's 13F filing for Q3 2023, filed 14 Nov 2023.