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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
+13.27%
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
$965M
AUM Growth
+$29.3M
Cap. Flow
-$81.2M
Cap. Flow %
-8.42%
Top 10 Hldgs %
79.75%
Holding
36
New
2
Increased
15
Reduced
10
Closed
5

Top Buys

Rank Stock Value
1
SA
Seabridge Gold
SA
+$51M
2
NTR icon
Nutrien
NTR
+$25.1M
3
BEN icon
Franklin Resources
BEN
+$24.6M
4
CRESY
Cresud
CRESY
+$6.84M
5
AMTM
Amentum Holdings
AMTM
+$6.34M

Top Sells

Rank Stock Value
1
ALTM
Arcadium Lithium plc
ALTM
+$37.8M
2
RGLD icon
Royal Gold
RGLD
+$32.5M
3
WPM icon
Wheaton Precious Metals
WPM
+$32.3M
4
HMY icon
Harmony Gold Mining
HMY
+$30.2M
5
KT icon
KT
KT
+$27.7M

Sector Composition

Rank Sector Weight
1 Materials 55.06%
2 Energy 21.76%
3 Communication Services 11.59%
4 Industrials 5.81%
5 Financials 4.86%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RRC icon
1
Range Resources
RRC
$9.01B
$114M 11.78%
2,846,663
+140,043
+5% +$5.39M
KT icon
2
KT
KT
$8.83B
$112M 11.59%
6,311,479
-1,603,864
-20% -$27.7M
B
3
Barrick Mining
B
$69.3B
$98.1M 10.16%
5,044,236
+231,624
+5% +$4.06M
EXE
4
Expand Energy Corp
EXE
$21.3B
$96.2M 9.98%
864,487
-55,458
-6% -$5.77M
SA
5
Seabridge Gold
SA
$3.12B
$85.7M 8.88%
7,342,955
+4,295,907
+141% +$51M
SQM icon
6
Sociedad Química y Minera de Chile
SQM
$20.7B
$60.5M 6.27%
1,523,668
+61,100
+4% +$2.45M
NG icon
7
NovaGold Resources
NG
$3.03B
$54.3M 5.63%
18,591,730
+1,584,886
+9% +$5.1M
WPM icon
8
Wheaton Precious Metals
WPM
$56.9B
$53.8M 5.57%
692,499
-484,593
-41% -$32.3M
RGLD icon
9
Royal Gold
RGLD
$18.5B
$48.5M 5.03%
296,790
-221,388
-43% -$32.5M
BEN icon
10
Franklin Resources
BEN
$17.3B
$46.9M 4.86%
2,435,982
+1,227,145
+102% +$24.6M
NTR icon
11
Nutrien
NTR
$32B
$28.4M 2.94%
571,481
+490,317
+604% +$25.1M
NAK
12
Northern Dynasty Minerals
NAK
$919M
$22.6M 2.34%
19,666,067
-11,804,672
-38% -$8.59M
CRESY
13
Cresud
CRESY
$766M
$22.1M 2.29%
2,013,021
+589,825
+41% +$6.84M
NEM icon
14
Newmont
NEM
$111B
$19.6M 2.03%
406,615
-348,532
-46% -$15.3M
AMTM
15
Amentum Holdings
AMTM
$5.82B
$19.6M 2.03%
1,077,495
+311,513
+41% +$6.34M
IE icon
16
Ivanhoe Electric
IE
$1.69B
$19.4M 2.01%
3,340,185
+782,960
+31% +$4.96M
SAND
17
DELISTED
Sandstorm Gold
SAND
$15.7M 1.63%
2,080,780
+98,500
+5% +$615K
AL
18
DELISTED
Air Lease Corp
AL
$14.3M 1.49%
296,911
+33,951
+13% +$1.59M
PPTA
19
Perpetua Resources
PPTA
$2.86B
$11.8M 1.22%
1,104,398
-1,046,606
-49% -$11.2M
THM
20
International Tower Hill Mines
THM
$552M
$9.13M 0.95%
14,448,418
+499,111
+4% +$268K
KEP icon
21
Korea Electric Power
KEP
$16B
$8.15M 0.84%
1,099,905
– –
VGZ icon
22
Vista Gold
VGZ
$296M
$3.35M 0.35%
4,042,525
+36,326
+0.9% +$24.1K
SLV icon
23
iShares Silver Trust
SLV
$29.8B
$482K 0.05%
+15,556
New +$452K
HMY icon
24
Harmony Gold Mining
HMY
$11.3B
$254K 0.03%
17,215
-2,707,637
-99% -$30.2M
AAPL icon
25
PUT
Apple
AAPL
$4.56T
$193K 0.02%
5,000
– –
1
2

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WIM
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LCG
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CCM
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Kopernik Global Investors's Q1 2025 Portfolio in Review

As of Q1 2025, Kopernik Global Investors held 36 positions worth $965M, up 3.1% from $935M the previous quarter. Its ten largest holdings account for 80% of the portfolio.

Kopernik Global Investors withdrew a net $81.2M in Q1 2025, closing 5 positions and reducing 10 holdings. Its most notable exit was Arcadium Lithium plc, an estimated $37.8M position sold in full.

By sector, the portfolio is most concentrated in Materials at 55% of assets, down from 56% a quarter earlier, followed by Energy and Communication Services.

Against the trend, Kopernik Global Investors opened a new position in iShares Silver Trust worth $482K.

  • Kopernik Global Investors's largest Q1 2025 buy was iShares Silver Trust: 15,556 shares worth $482K.
  • Kopernik Global Investors added most to Seabridge Gold in Q1 2025, an estimated $51M increase.
  • Kopernik Global Investors's biggest Q1 2025 reduction was Royal Gold, cutting an estimated $32.5M.
  • Kopernik Global Investors fully exited Arcadium Lithium plc in Q1 2025, selling an estimated $37.8M.
  • Kopernik Global Investors's ten largest holdings make up 80% of its $965M portfolio in Q1 2025.
  • Kopernik Global Investors opened 2 new positions and closed 5 in Q1 2025.
  • Kopernik Global Investors's portfolio value rose 3.1% quarter-over-quarter to $965M.

Based on Kopernik Global Investors's 13F filing for Q1 2025, filed 14 May 2025.