Northern Dynasty Minerals
NAK
194 hedge funds and large institutions have $162M invested in Northern Dynasty Minerals in 2026 Q1 according to their latest regulatory filings, with 53 funds opening new positions, 43 increasing their positions, 46 reducing their positions, and 25 closing their positions.
112% more first-time investments, than exits
New positions opened: 53 | Existing positions closed: 25
90% more call options, than puts
Call options by funds: $9.05M | Put options by funds: $4.77M
15% more funds holding
Funds holding: 168 → 194 (+26)
1.77% more ownership
Funds ownership: 18.91% → 20.68% (+1.8%)
7% less repeat investments, than reductions
Existing positions increased: 43 | Existing positions reduced: 46
22% less capital invested
Capital invested by funds: $206M → $162M (-$44.4M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KGI
Kopernik Global Investors
Tampa,
Florida
|
+$19.1M |
| 2 |
Mirae Asset Global ETFs Holdings
Causeway Bay,
Hong Kong
|
+$12.4M |
| 3 |
Renaissance Technologies
New York
|
+$7.76M |
| 4 |
Two Sigma Investments
New York
|
+$6.03M |
| 5 |
SAM
Stenahm Asset Management
Guernsey
|
+$3.56M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Millennium Management
New York
|
-$13.8M |
| 2 |
BCM
Bornite Capital Management
New York
|
-$7.63M |
| 3 |
Jane Street
New York
|
-$4.3M |
| 4 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$3.04M |
| 5 |
Citadel Advisors
Miami,
Florida
|
-$1.71M |
NAK Hedge Fund Activity: Q1 2026 in Review
194 of the 8,187 institutional investors tracked by Wall St. Rank reported a position in Northern Dynasty Minerals (NAK) for Q1 2026, worth a combined $162M — down 22% from $206M a quarter earlier.
Buyers outnumbered sellers: 53 funds opened new NAK positions and 25 closed out — a net gain of 28 holders — while 43 added to existing stakes and 46 trimmed.
The largest buyer was Kopernik Global Investors, adding an estimated $19.1M. The largest seller was Millennium Management, cutting an estimated $13.8M.
- 194 institutional investors held Northern Dynasty Minerals (NAK) as of Q1 2026, up from 168 in Q4 2025.
- Funds reported $162M of Northern Dynasty Minerals stock for Q1 2026, down 22% quarter-over-quarter.
- 53 funds opened new Northern Dynasty Minerals positions in Q1 2026 and 25 closed out, a net change of +28 holders.
- The largest Northern Dynasty Minerals buyer in Q1 2026 was Kopernik Global Investors, an estimated $19.1M added.
- The largest Northern Dynasty Minerals seller in Q1 2026 was Millennium Management, an estimated $13.8M sold.
Based on aggregated 13F filings for Q1 2026.