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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
+10.57%
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
$1.25B
AUM Growth
+$24.8M
Cap. Flow
-$97.5M
Cap. Flow %
-7.78%
Top 10 Hldgs %
82.29%
Holding
31
New
3
Increased
8
Reduced
8
Closed
4

Top Buys

Rank Stock Value
1
RRC icon
Range Resources
RRC
+$30.5M
2
NTR icon
Nutrien
NTR
+$28.7M
3
KT icon
KT
KT
+$22.6M
4
MOH icon
Molina Healthcare
MOH
+$20.6M
5
RGLD icon
Royal Gold
RGLD
+$18.6M

Top Sells

Rank Stock Value
1
B
Barrick Mining
B
+$92.6M
2
NG icon
NovaGold Resources
NG
+$43.7M
3
SQM icon
Sociedad Química y Minera de Chile
SQM
+$34.9M
4
SLB icon
SLB Ltd
SLB
+$21.9M
5
SAND
Sandstorm Gold
SAND
+$19.9M

Sector Composition

Rank Sector Weight
1 Materials 43.86%
2 Energy 24.77%
3 Communication Services 10.29%
4 Healthcare 8.4%
5 Financials 6.43%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SA
1
Seabridge Gold
SA
$3.13B
$207M 16.49%
6,979,611
+32,945
+0.5% +$866K
RRC icon
2
Range Resources
RRC
$9.05B
$185M 14.75%
5,238,903
+818,295
+19% +$30.5M
KT icon
3
KT
KT
$8.86B
$109M 8.74%
5,768,752
+1,213,304
+27% +$22.6M
NTR icon
4
Nutrien
NTR
$31.7B
$108M 8.64%
1,753,659
+487,059
+38% +$28.7M
CNC icon
5
Centene
CNC
$31.8B
$83.3M 6.66%
2,025,052
-231,829
-10% -$8.68M
BEN icon
6
Franklin Resources
BEN
$17.4B
$80.5M 6.43%
3,369,165
+633,541
+23% +$14.5M
NG icon
7
NovaGold Resources
NG
$3.03B
$78.6M 6.27%
8,429,379
-4,708,198
-36% -$43.7M
EXE
8
Expand Energy Corp
EXE
$21.2B
$75.2M 6.01%
681,579
-56,468
-8% -$6.26M
CRESY
9
Cresud
CRESY
$773M
$53.6M 4.28%
4,246,881
+487,556
+13% +$5.39M
SLB icon
10
SLB Ltd
SLB
$76.8B
$50.1M 4.01%
1,306,620
-603,168
-32% -$21.9M
RGLD icon
11
Royal Gold
RGLD
$18.4B
$46.6M 3.72%
209,678
+93,613
+81% +$18.6M
NAK
12
Northern Dynasty Minerals
NAK
$925M
$42.7M 3.41%
21,661,178
– –
THM
13
International Tower Hill Mines
THM
$557M
$26.9M 2.15%
14,448,418
– –
B
14
Barrick Mining
B
$69.2B
$25.7M 2.05%
590,051
-2,467,339
-81% -$92.6M
MOH icon
15
Molina Healthcare
MOH
$10B
$21.8M 1.74%
+125,534
New +$20.6M
CMCSA icon
16
Comcast
CMCSA
$89B
$19.4M 1.55%
+649,213
New +$18.5M
AL
17
DELISTED
Air Lease Corp
AL
$18.3M 1.46%
285,013
– –
IE icon
18
Ivanhoe Electric
IE
$1.71B
$6.85M 0.55%
428,752
-907,233
-68% -$13M
VGZ icon
19
Vista Gold
VGZ
$290M
$4.86M 0.39%
2,466,589
-662,758
-21% -$1.28M
KEP icon
20
Korea Electric Power
KEP
$16B
$4.42M 0.35%
268,151
– –
NEM icon
21
Newmont
NEM
$111B
$2.32M 0.19%
23,201
-25,315
-52% -$2.29M
IRS
22
IRSA Inversiones y Representaciones
IRS
$1.25B
$1.41M 0.11%
+85,366
New +$1.23M
AZO icon
23
PUT
AutoZone
AZO
$50.1B
$214K 0.02%
400
– –
PAYX icon
24
PUT
Paychex
PAYX
$42.5B
$179K 0.01%
5,600
– –
ABBV icon
25
PUT
AbbVie
ABBV
$431B
$84.2K 0.01%
4,600
+400
+10% +$91.1K
1
2

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Kopernik Global Investors's Q4 2025 Portfolio in Review

As of Q4 2025, Kopernik Global Investors held 31 positions worth $1.25B, up 2% from $1.23B the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Kopernik Global Investors withdrew a net $97.5M in Q4 2025, closing 4 positions and reducing 8 holdings. Its most notable exit was Sociedad Química y Minera de Chile, an estimated $34.9M position sold in full.

By sector, the portfolio is most concentrated in Materials at 44% of assets, down from 50% a quarter earlier, followed by Energy and Communication Services.

Against the trend, Kopernik Global Investors opened a new position in Molina Healthcare worth $21.8M.

  • Kopernik Global Investors's largest Q4 2025 buy was Molina Healthcare: 125,534 shares worth $21.8M.
  • Kopernik Global Investors added most to Range Resources in Q4 2025, an estimated $30.5M increase.
  • Kopernik Global Investors's biggest Q4 2025 reduction was Barrick Mining, cutting an estimated $92.6M.
  • Kopernik Global Investors fully exited Sociedad Química y Minera de Chile in Q4 2025, selling an estimated $34.9M.
  • Kopernik Global Investors's ten largest holdings make up 82% of its $1.25B portfolio in Q4 2025.
  • Kopernik Global Investors opened 3 new positions and closed 4 in Q4 2025.
  • Kopernik Global Investors's portfolio value rose 2% quarter-over-quarter to $1.25B.

Based on Kopernik Global Investors's 13F filing for Q4 2025, filed 13 Feb 2026.