Kopernik Global Investors, LLC Hedge Fund

Location: Tampa, FL

CIK: 0001599814 · Show all filings

Period: Q4 2022 (← Previous) (Next →)

Filing Date: Feb 13, 2023

Total Value: $991M (98.9% shares, 1.1% debt)

Holdings (37)

KT KT CORP 10.7%

Value $106M Shares 7,870,242 Est. Cost $12.87 Unrealized —

WPM WHEATON PRECIOUS METALS CORP 10.4%

Value $103M Shares 2,626,525 Est. Cost $33.81 Unrealized +3.8%

— SOUTHWESTERN ENERGY CO 9.3%

Value $92.06M Shares 15,737,164 Est. Cost $3.82 Unrealized —

CCJ CAMECO CORP 8.9%

Value $88.35M Shares 3,897,115 Est. Cost $15.49 Unrealized +50.5%

RRC RANGE RES CORP 8.3%

Value $82.03M Shares 3,278,676 Est. Cost $16.81 Unrealized +62.9%

RGLD ROYAL GOLD INC 7.1%

Value $70.41M Shares 624,635 Est. Cost $103.46 Unrealized -0.4%

IAG IAMGOLD CORP 6.3%

Value $62.03M Shares 24,042,429 Est. Cost $2.71 Unrealized -36.0%

HMY HARMONY GOLD MINING CO LTD 5.9%

Value $58.63M Shares 17,245,360 Est. Cost $2.97 Unrealized —

NG NOVAGOLD RES INC 5.3%

Value $52.35M Shares 8,754,173 Est. Cost $6.25 Unrealized -14.7%

SKYW SKYWEST INC 4.2%

Value $41.79M Shares 2,531,308 Est. Cost $17.52 Unrealized 0.0%

SA SEABRIDGE GOLD INC 3.4%

Value $33.66M Shares 2,675,694 Est. Cost $17.00 Unrealized -30.4%

— CREDIT SUISSE GROUP 3.0%

Value $29.6M Shares 9,736,174 Est. Cost $3.51 Unrealized —

SABR SABRE CORP 2.7%

Value $26.71M Shares 4,322,131 Est. Cost $6.49 Unrealized -14.0%

SII SPROTT INC 2.1%

Value $20.71M Shares 622,482 Est. Cost $32.81 Unrealized -1.3%

PPTA PERPETUA RESOURCES CORP 1.5%

Value $15.33M Shares 5,250,591 Est. Cost $3.59 Unrealized -39.6%

AL AIR LEASE CORP 1.5%

Value $15.06M Shares 392,025 Est. Cost $34.71 Unrealized -2.2%

KEP KOREA ELEC PWR CORP 1.4%

Value $14.35M Shares 1,660,792 Est. Cost $10.79 Unrealized —

IE IVANHOE ELECTRIC INC 1.4%

Value $13.54M Shares 1,114,117 Est. Cost $9.13 Unrealized +14.8%

— SABRE CORP 1.1%

Value $10.98M Shares 130,500 Est. Cost $84.17 Unrealized —

GDX VANECK ETF TRUST 0.9%

Value $9.217M Shares 321,592 Est. Cost $24.12 Unrealized —

HY HYSTER YALE MATLS HANDLING I 0.9%

Value $8.431M Shares 333,117 Est. Cost $28.92 Unrealized -12.7%

— VEON LTD 0.8%

Value $7.849M Shares 16,018,241 Est. Cost $0.89 Unrealized —

NAK NORTHERN DYNASTY MINERALS LT 0.7%

Value $7.067M Shares 32,005,333 Est. Cost $0.81 Unrealized -70.1%

BABA ALIBABA GROUP HLDG LTD 0.7%

Value $6.695M Shares 76,005 Est. Cost $88.09 Unrealized —

THM INTERNATIONAL TOWER HILL MIN 0.6%

Value $5.973M Shares 14,047,222 Est. Cost $0.82 Unrealized -44.1%

AER AERCAP HOLDINGS NV 0.3%

Value $3.048M Shares 52,267 Est. Cost $48.30 Unrealized +12.6%

NGD NEW GOLD INC CDA 0.2%

Value $2.004M Shares 2,044,962 Est. Cost $0.79 Unrealized +27.2%

VGZ VISTA GOLD CORP 0.1%

Value $1.444M Shares 2,916,361 Est. Cost $0.67 Unrealized -17.8%

— SANDSTORM GOLD LTD 0.1%

Value $1.313M Shares 249,543 Est. Cost $5.26 Unrealized —

SLV ISHARES SILVER TR 0.0%

Value $400K Shares 186,700 Est. Cost — Unrealized —

LULU LULULEMON ATHLETICA INC 0.0%

Value $344K Shares 2,900 Est. Cost — Unrealized —

ZTS ZOETIS INC 0.0%

Value $299K Shares 4,200 Est. Cost — Unrealized —

NKE NIKE INC 0.0%

Value $121K Shares 3,700 Est. Cost — Unrealized —

PAYX PAYCHEX INC 0.0%

Value $82,770 Shares 8,900 Est. Cost — Unrealized —

AZO AUTOZONE INC 0.0%

Value $42,300 Shares 600 Est. Cost — Unrealized —

ULTA ULTA BEAUTY INC 0.0%

Value $12,420 Shares 600 Est. Cost — Unrealized —

CMG CHIPOTLE MEXICAN GRILL INC 0.0%

Value $90 Shares 900 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
KT	KT CORP	7,870,242	$106M	10.7%	$12.87	—	SPONSORED ADR	48268K101
WPM	WHEATON PRECIOUS METALS CORP	2,626,525	$103M	10.4%	$33.81	+3.8%	COM	962879102
—	SOUTHWESTERN ENERGY CO	15,737,164	$92.06M	9.3%	$3.82	—	COM	845467109
CCJ	CAMECO CORP	3,897,115	$88.35M	8.9%	$15.49	+50.5%	COM	13321L108
RRC	RANGE RES CORP	3,278,676	$82.03M	8.3%	$16.81	+62.9%	COM	75281A109
RGLD	ROYAL GOLD INC	624,635	$70.41M	7.1%	$103.46	-0.4%	COM	780287108
IAG	IAMGOLD CORP	24,042,429	$62.03M	6.3%	$2.71	-36.0%	COM	450913108
HMY	HARMONY GOLD MINING CO LTD	17,245,360	$58.63M	5.9%	$2.97	—	SPONSORED ADR	413216300
NG	NOVAGOLD RES INC	8,754,173	$52.35M	5.3%	$6.25	-14.7%	COM NEW	66987E206
SKYW	SKYWEST INC	2,531,308	$41.79M	4.2%	$17.52	0.0%	COM	830879102
SA	SEABRIDGE GOLD INC	2,675,694	$33.66M	3.4%	$17.00	-30.4%	COM	811916105
—	CREDIT SUISSE GROUP	9,736,174	$29.6M	3.0%	$3.51	—	SPONSORED ADR	225401108
SABR	SABRE CORP	4,322,131	$26.71M	2.7%	$6.49	-14.0%	COM	78573M104
SII	SPROTT INC	622,482	$20.71M	2.1%	$32.81	-1.3%	COM NEW	852066208
PPTA	PERPETUA RESOURCES CORP	5,250,591	$15.33M	1.5%	$3.59	-39.6%	COM	714266103
AL	AIR LEASE CORP	392,025	$15.06M	1.5%	$34.71	-2.2%	CL A	00912X302
KEP	KOREA ELEC PWR CORP	1,660,792	$14.35M	1.4%	$10.79	—	SPONSORED ADR	500631106
IE	IVANHOE ELECTRIC INC	1,114,117	$13.54M	1.4%	$9.13	+14.8%	COM	46578C108
—	SABRE CORP	130,500	$10.98M	1.1%	$84.17	—	6.50% CONV PFD A	78573M203
GDX	VANECK ETF TRUST	321,592	$9.217M	0.9%	$24.12	—	GOLD MINERS ETF	92189F106
HY	HYSTER YALE MATLS HANDLING I	333,117	$8.431M	0.9%	$28.92	-12.7%	CL A	449172105
—	VEON LTD	16,018,241	$7.849M	0.8%	$0.89	—	SPONSORED ADR	91822M106
NAK	NORTHERN DYNASTY MINERALS LT	32,005,333	$7.067M	0.7%	$0.81	-70.1%	COM NEW	66510M204
BABA	ALIBABA GROUP HLDG LTD	76,005	$6.695M	0.7%	$88.09	—	SPONSORED ADS	01609W102
THM	INTERNATIONAL TOWER HILL MIN	14,047,222	$5.973M	0.6%	$0.82	-44.1%	COM	46050R102
AER	AERCAP HOLDINGS NV	52,267	$3.048M	0.3%	$48.30	+12.6%	SHS	N00985106
NGD	NEW GOLD INC CDA	2,044,962	$2.004M	0.2%	$0.79	+27.2%	COM	644535106
VGZ	VISTA GOLD CORP	2,916,361	$1.444M	0.1%	$0.67	-17.8%	COM NEW	927926303
—	SANDSTORM GOLD LTD	249,543	$1.313M	0.1%	$5.26	—	COM NEW	80013R206
SLV	ISHARES SILVER TR	186,700	$400K	0.0%	—	—	Call	46428Q109
LULU	LULULEMON ATHLETICA INC	2,900	$344K	0.0%	—	—	Put	550021109
ZTS	ZOETIS INC	4,200	$299K	0.0%	—	—	Put	98978V103
NKE	NIKE INC	3,700	$121K	0.0%	—	—	Put	654106103
PAYX	PAYCHEX INC	8,900	$82,770	0.0%	—	—	Put	704326107
AZO	AUTOZONE INC	600	$42,300	0.0%	—	—	Put	053332102
ULTA	ULTA BEAUTY INC	600	$12,420	0.0%	—	—	Put	90384S303
CMG	CHIPOTLE MEXICAN GRILL INC	900	$90	0.0%	—	—	Put	169656105