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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
+16.68%
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
$911M
AUM Growth
-$54M
Cap. Flow
-$174M
Cap. Flow %
-19.11%
Top 10 Hldgs %
82.74%
Holding
33
New
2
Increased
8
Reduced
11
Closed
5

Top Buys

Rank Stock Value
1
SQM icon
Sociedad Química y Minera de Chile
SQM
+$10.9M
2
NXE icon
NexGen Energy
NXE
+$9.94M
3
BEN icon
Franklin Resources
BEN
+$8.41M
4
CRESY
Cresud
CRESY
+$4.47M
5
NG icon
NovaGold Resources
NG
+$1.96M

Top Sells

Rank Stock Value
1
WPM icon
Wheaton Precious Metals
WPM
+$53.8M
2
KT icon
KT
KT
+$38.7M
3
RGLD icon
Royal Gold
RGLD
+$38.2M
4
EXE
Expand Energy Corp
EXE
+$38.1M
5
NEM icon
Newmont
NEM
+$12.1M

Sector Composition

Rank Sector Weight
1 Materials 55.33%
2 Energy 20.6%
3 Communication Services 9.76%
4 Financials 7.45%
5 Industrials 6.32%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RRC icon
1
Range Resources
RRC
$9.43B
$114M 12.55%
2,809,804
-36,859
-1% -$1.39M
SA
2
Seabridge Gold
SA
$2.84B
$107M 11.77%
7,382,606
+39,651
+0.5% +$504K
B
3
Barrick Mining
B
$62.6B
$107M 11.72%
5,128,287
+84,051
+2% +$1.64M
KT icon
4
KT
KT
$8.75B
$88.9M 9.76%
4,276,464
-2,035,015
-32% -$38.7M
NG icon
5
NovaGold Resources
NG
$2.61B
$78.2M 8.58%
19,115,209
+523,479
+3% +$1.96M
BEN icon
6
Franklin Resources
BEN
$18.3B
$67.8M 7.45%
2,843,849
+407,867
+17% +$8.41M
SQM icon
7
Sociedad Química y Minera de Chile
SQM
$19.1B
$65M 7.13%
1,842,113
+318,445
+21% +$10.9M
EXE
8
Expand Energy Corp
EXE
$21.9B
$61.1M 6.71%
522,716
-341,771
-40% -$38.1M
NTR icon
9
Nutrien
NTR
$31.7B
$33.4M 3.67%
573,644
+2,163
+0.4% +$122K
IE icon
10
Ivanhoe Electric
IE
$1.54B
$31M 3.4%
3,412,561
+72,376
+2% +$502K
NAK
11
Northern Dynasty Minerals
NAK
$818M
$26.4M 2.89%
19,666,067
– –
CRESY
12
Cresud
CRESY
$796M
$25.7M 2.83%
2,413,119
+400,098
+20% +$4.47M
AL
13
DELISTED
Air Lease Corp
AL
$16.8M 1.84%
286,682
-10,229
-3% -$532K
SAND
14
DELISTED
Sandstorm Gold
SAND
$15.1M 1.65%
1,603,160
-477,620
-23% -$4.09M
AMTM
15
Amentum Holdings
AMTM
$5.66B
$15M 1.65%
636,226
-441,269
-41% -$9.22M
RGLD icon
16
Royal Gold
RGLD
$17.1B
$14.4M 1.58%
81,083
-215,707
-73% -$38.2M
THM
17
International Tower Hill Mines
THM
$468M
$12.4M 1.36%
14,448,418
– –
NXE icon
18
NexGen Energy
NXE
$6.33B
$12.2M 1.34%
+1,760,522
New +$9.94M
NEM icon
19
Newmont
NEM
$100B
$10.5M 1.16%
180,570
-226,045
-56% -$12.1M
KEP icon
20
Korea Electric Power
KEP
$15.5B
$3.82M 0.42%
268,151
-831,754
-76% -$8.26M
VGZ icon
21
Vista Gold
VGZ
$260M
$3.74M 0.41%
3,830,394
-212,131
-5% -$207K
SLV icon
22
iShares Silver Trust
SLV
$28B
$399K 0.04%
12,155
-3,401
-22% -$104K
SLV icon
23
CALL
iShares Silver Trust
SLV
$28B
$359K 0.04%
+141,400
New +$4.32M
AAPL icon
24
PUT
Apple
AAPL
$4.46T
$247K 0.03%
5,000
– –
ABBV icon
25
PUT
AbbVie
ABBV
$433B
$62.4K 0.01%
4,200
– –
1
2

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Kopernik Global Investors's Q2 2025 Portfolio in Review

As of Q2 2025, Kopernik Global Investors held 33 positions worth $911M, down 5.6% from $965M the previous quarter. Its ten largest holdings account for 83% of the portfolio.

Kopernik Global Investors withdrew a net $174M in Q2 2025, closing 5 positions and reducing 11 holdings. Its most notable exit was Wheaton Precious Metals, an estimated $53.8M position sold in full.

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

Against the trend, Kopernik Global Investors opened a new position in NexGen Energy worth $12.2M.

  • Kopernik Global Investors's largest Q2 2025 buy was NexGen Energy: 1,760,522 shares worth $12.2M.
  • Kopernik Global Investors added most to Sociedad Química y Minera de Chile in Q2 2025, an estimated $10.9M increase.
  • Kopernik Global Investors's biggest Q2 2025 reduction was KT, cutting an estimated $38.7M.
  • Kopernik Global Investors fully exited Wheaton Precious Metals in Q2 2025, selling an estimated $53.8M.
  • Kopernik Global Investors's ten largest holdings make up 83% of its $911M portfolio in Q2 2025.
  • Kopernik Global Investors opened 2 new positions and closed 5 in Q2 2025.
  • Kopernik Global Investors's portfolio value fell 5.6% quarter-over-quarter to $911M.

Based on Kopernik Global Investors's 13F filing for Q2 2025, filed 14 Aug 2025.