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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
+24.81%
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
$1.23B
AUM Growth
+$316M
Cap. Flow
+$94.7M
Cap. Flow %
7.72%
Top 10 Hldgs %
81.56%
Holding
31
New
3
Increased
8
Reduced
10
Closed
3

Top Buys

Rank Stock Value
1
CNC icon
Centene
CNC
+$68.2M
2
SLB icon
SLB Ltd
SLB
+$66.5M
3
RRC icon
Range Resources
RRC
+$57.5M
4
NTR icon
Nutrien
NTR
+$40.4M
5
EXE
Expand Energy Corp
EXE
+$21.6M

Top Sells

Rank Stock Value
1
B
Barrick Mining
B
+$52.5M
2
SQM icon
Sociedad Química y Minera de Chile
SQM
+$42.9M
3
NG icon
NovaGold Resources
NG
+$36.6M
4
IE icon
Ivanhoe Electric
IE
+$20.5M
5
AMTM
Amentum Holdings
AMTM
+$15M

Sector Composition

Rank Sector Weight
1 Materials 49.97%
2 Energy 26.39%
3 Communication Services 7.24%
4 Healthcare 6.56%
5 Financials 5.16%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SA
1
Seabridge Gold
SA
$3.12B
$168M 13.67%
6,946,666
-435,940
-6% -$7.54M
RRC icon
2
Range Resources
RRC
$9.01B
$166M 13.56%
4,420,608
+1,610,804
+57% +$57.5M
NG icon
3
NovaGold Resources
NG
$3.03B
$116M 9.42%
13,137,577
-5,977,632
-31% -$36.6M
B
4
Barrick Mining
B
$69.3B
$100M 8.16%
3,057,390
-2,070,897
-40% -$52.5M
KT icon
5
KT
KT
$8.83B
$88.8M 7.24%
4,555,448
+278,984
+7% +$5.69M
CNC icon
6
Centene
CNC
$31.7B
$80.5M 6.56%
+2,256,881
New +$68.2M
EXE
7
Expand Energy Corp
EXE
$21.3B
$78.4M 6.39%
738,047
+215,331
+41% +$21.6M
NTR icon
8
Nutrien
NTR
$32B
$74.4M 6.06%
1,266,600
+692,956
+121% +$40.4M
SLB icon
9
SLB Ltd
SLB
$76.5B
$65.6M 5.35%
+1,909,788
New +$66.5M
BEN icon
10
Franklin Resources
BEN
$17.3B
$63.3M 5.16%
2,735,624
-108,225
-4% -$2.67M
SQM icon
11
Sociedad Química y Minera de Chile
SQM
$20.7B
$34.9M 2.85%
812,944
-1,029,169
-56% -$42.9M
CRESY
12
Cresud
CRESY
$766M
$34.3M 2.79%
3,759,325
+1,346,206
+56% +$13.8M
NAK
13
Northern Dynasty Minerals
NAK
$919M
$26M 2.12%
21,661,178
+1,995,111
+10% +$2.14M
THM
14
International Tower Hill Mines
THM
$552M
$23.7M 1.93%
14,448,418
– –
RGLD icon
15
Royal Gold
RGLD
$18.5B
$23.3M 1.9%
116,065
+34,982
+43% +$6.05M
SAND
16
DELISTED
Sandstorm Gold
SAND
$19.9M 1.62%
1,586,602
-16,558
-1% -$176K
AL
17
DELISTED
Air Lease Corp
AL
$18.1M 1.48%
285,013
-1,669
-0.6% -$99.7K
IE icon
18
Ivanhoe Electric
IE
$1.69B
$16.8M 1.37%
1,335,985
-2,076,576
-61% -$20.5M
BORR
19
Borr Drilling
BORR
$1.2B
$13.4M 1.09%
+4,983,672
New +$12.4M
VGZ icon
20
Vista Gold
VGZ
$296M
$6.67M 0.54%
3,129,347
-701,047
-18% -$912K
NEM icon
21
Newmont
NEM
$111B
$4.09M 0.33%
48,516
-132,054
-73% -$9.21M
KEP icon
22
Korea Electric Power
KEP
$16B
$3.5M 0.29%
268,151
– –
SLV icon
23
CALL
iShares Silver Trust
SLV
$29.8B
$1.29M 0.1%
141,400
– –
PAYX icon
24
PUT
Paychex
PAYX
$42.7B
$113K 0.01%
5,600
– –
AAPL icon
25
PUT
Apple
AAPL
$4.56T
$113K 0.01%
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 Q3 2025 Portfolio in Review

As of Q3 2025, Kopernik Global Investors held 31 positions worth $1.23B, up 35% from $911M the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Kopernik Global Investors deployed $94.7M of net new capital in Q3 2025, opening 3 new positions and adding to 8 existing holdings. Its largest new stake was Centene: 2,256,881 shares worth $80.5M.

By sector, the portfolio is most concentrated in Materials at 50% of assets, down from 55% a quarter earlier, followed by Energy and Communication Services.

On the sell side, the largest reduction was Barrick Mining, an estimated $52.5M trimmed.

  • Kopernik Global Investors's largest Q3 2025 buy was Centene: 2,256,881 shares worth $80.5M.
  • Kopernik Global Investors added most to Range Resources in Q3 2025, an estimated $57.5M increase.
  • Kopernik Global Investors's biggest Q3 2025 reduction was Barrick Mining, cutting an estimated $52.5M.
  • Kopernik Global Investors fully exited Amentum Holdings in Q3 2025, selling an estimated $15M.
  • Kopernik Global Investors's ten largest holdings make up 82% of its $1.23B portfolio in Q3 2025.
  • Kopernik Global Investors opened 3 new positions and closed 3 in Q3 2025.
  • Kopernik Global Investors's portfolio value rose 35% quarter-over-quarter to $1.23B.

Based on Kopernik Global Investors's 13F filing for Q3 2025, filed 14 Nov 2025.