Kopernik Global Investors, LLC Hedge Fund

Location: Tampa, FL

CIK: 0001599814 · Show all filings

Period: Q1 2026 (← Previous) (Next →)

Filing Date: May 13, 2026

Total Value: $1.432B (100.0% shares, 0.0% debt)

Holdings (31)

SA SEABRIDGE GOLD INC 14.5%

Value $208M Shares 7,332,863 Est. Cost $14.52 Unrealized +125.0%

RRC RANGE RES CORP 13.2%

Value $189M Shares 4,188,614 Est. Cost $28.51 Unrealized +26.8%

KT KT CORP 8.0%

Value $114M Shares 5,321,922 Est. Cost $14.26 Unrealized —

NTR NUTRIEN LTD 7.5%

Value $107M Shares 1,423,780 Est. Cost $55.58 Unrealized +22.5%

EXE EXPAND ENERGY CORPORATION 6.2%

Value $89.32M Shares 813,632 Est. Cost $94.34 Unrealized +12.1%

BEN FRANKLIN RESOURCES INC 5.8%

Value $83.2M Shares 3,522,587 Est. Cost $20.28 Unrealized +30.0%

CNC CENTENE CORP DEL 5.8%

Value $82.41M Shares 2,517,106 Est. Cost $32.77 Unrealized +32.3%

NG NOVAGOLD RESOURCES INC 4.1%

Value $58.48M Shares 6,511,729 Est. Cost $4.48 Unrealized +129.2%

CRESY CRESUD S A C I F Y A 3.9%

Value $56.17M Shares 4,415,543 Est. Cost $10.09 Unrealized —

WY WEYERHAEUSER CO 3.2%

Value $46.53M Shares 1,904,591 Est. Cost $23.80 Unrealized 0.0%

NAK NORTHERN DYNASTY MINERALS LT 3.2%

Value $45.72M Shares 32,655,846 Est. Cost $1.22 Unrealized +62.9%

RYN RAYONIER INC 3.1%

Value $45.09M Shares 2,186,503 Est. Cost $20.62 Unrealized —

CNXC CONCENTRIX CORP 3.1%

Value $44.52M Shares 1,627,306 Est. Cost $37.97 Unrealized 0.0%

THM INTERNATIONAL TOWER HILL MIN 2.8%

Value $40.6M Shares 17,650,432 Est. Cost $1.12 Unrealized +124.5%

MOH MOLINA HEALTHCARE INC 2.7%

Value $38.92M Shares 291,941 Est. Cost $166.81 Unrealized +1.1%

NICE NICE LTD 1.9%

Value $27.67M Shares 250,948 Est. Cost $110.26 Unrealized —

VGZ VISTA GOLD CORP 1.9%

Value $27.15M Shares 13,852,010 Est. Cost $2.14 Unrealized +15.4%

B BARRICK MNG CORP 1.6%

Value $22.84M Shares 560,044 Est. Cost $19.29 Unrealized +150.4%

RGLD ROYAL GOLD INC 1.5%

Value $21.93M Shares 86,159 Est. Cost $157.83 Unrealized +71.1%

IE IVANHOE ELECTRIC INC 1.5%

Value $21.09M Shares 1,784,170 Est. Cost $15.09 Unrealized +15.0%

HUM HUMANA INC 1.4%

Value $19.66M Shares 113,385 Est. Cost $223.53 Unrealized 0.0%

CMCSA COMCAST CORP NEW 1.3%

Value $18.64M Shares 649,213 Est. Cost $28.53 Unrealized +4.5%

AL AIR LEASE CORP 1.3%

Value $18.03M Shares 277,612 Est. Cost $44.74 Unrealized +44.2%

KEP KOREA ELEC PWR CORP 0.2%

Value $2.952M Shares 207,140 Est. Cost $10.79 Unrealized —

IRS IRSA INVERSIONES Y REP S A 0.1%

Value $1.384M Shares 85,363 Est. Cost $16.54 Unrealized —

PLG PLATINUM GROUP METALS LTD 0.0%

Value $635K Shares 358,692 Est. Cost $2.65 Unrealized 0.0%

AZO AUTOZONE INC 0.0%

Value $223K Shares 400 Est. Cost — Unrealized —

AAPL APPLE INC 0.0%

Value $113K Shares 5,000 Est. Cost — Unrealized —

ABBV ABBVIE INC 0.0%

Value $105K Shares 4,600 Est. Cost — Unrealized —

NEM NEWMONT CORP 0.0%

Value $82,378 Shares 761 Est. Cost $44.64 Unrealized +164.6%

AMGN AMGEN INC 0.0%

Value $75,096 Shares 4,200 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SA	SEABRIDGE GOLD INC	7,332,863	$208M	14.5%	$14.52	+125.0%	COM	811916105
RRC	RANGE RES CORP	4,188,614	$189M	13.2%	$28.51	+26.8%	COM	75281A109
KT	KT CORP	5,321,922	$114M	8.0%	$14.26	—	SPONSORED ADR	48268K101
NTR	NUTRIEN LTD	1,423,780	$107M	7.5%	$55.58	+22.5%	COM	67077M108
EXE	EXPAND ENERGY CORPORATION	813,632	$89.32M	6.2%	$94.34	+12.1%	COM	165167735
BEN	FRANKLIN RESOURCES INC	3,522,587	$83.2M	5.8%	$20.28	+30.0%	COM	354613101
CNC	CENTENE CORP DEL	2,517,106	$82.41M	5.8%	$32.77	+32.3%	COM	15135B101
NG	NOVAGOLD RESOURCES INC	6,511,729	$58.48M	4.1%	$4.48	+129.2%	COM NEW	66987E206
CRESY	CRESUD S A C I F Y A	4,415,543	$56.17M	3.9%	$10.09	—	SPONSORED ADR	226406106
WY	WEYERHAEUSER CO	1,904,591	$46.53M	3.2%	$23.80	0.0%	COM NEW	962166104
NAK	NORTHERN DYNASTY MINERALS LT	32,655,846	$45.72M	3.2%	$1.22	+62.9%	COM NEW	66510M204
RYN	RAYONIER INC	2,186,503	$45.09M	3.1%	$20.62	—	COM	754907103
CNXC	CONCENTRIX CORP	1,627,306	$44.52M	3.1%	$37.97	0.0%	COM	20602D101
THM	INTERNATIONAL TOWER HILL MIN	17,650,432	$40.6M	2.8%	$1.12	+124.5%	COM	46050R102
MOH	MOLINA HEALTHCARE INC	291,941	$38.92M	2.7%	$166.81	+1.1%	COM	60855R100
NICE	NICE LTD	250,948	$27.67M	1.9%	$110.26	—	SPONSORED ADR	653656108
VGZ	VISTA GOLD CORP	13,852,010	$27.15M	1.9%	$2.14	+15.4%	COM NEW	927926303
B	BARRICK MNG CORP	560,044	$22.84M	1.6%	$19.29	+150.4%	COM SHS	06849F108
RGLD	ROYAL GOLD INC	86,159	$21.93M	1.5%	$157.83	+71.1%	COM	780287108
IE	IVANHOE ELECTRIC INC	1,784,170	$21.09M	1.5%	$15.09	+15.0%	COM	46578C108
HUM	HUMANA INC	113,385	$19.66M	1.4%	$223.53	0.0%	COM	444859102
CMCSA	COMCAST CORP NEW	649,213	$18.64M	1.3%	$28.53	+4.5%	CL A	20030N101
AL	AIR LEASE CORP	277,612	$18.03M	1.3%	$44.74	+44.2%	CL A	00912X302
KEP	KOREA ELEC PWR CORP	207,140	$2.952M	0.2%	$10.79	—	SPONSORED ADR	500631106
IRS	IRSA INVERSIONES Y REP S A	85,363	$1.384M	0.1%	$16.54	—	SPON GDS ECH 10	450047303
PLG	PLATINUM GROUP METALS LTD	358,692	$635K	0.0%	$2.65	0.0%	COM	72765Q882
AZO	AUTOZONE INC	400	$223K	0.0%	—	—	Put	053332102
AAPL	APPLE INC	5,000	$113K	0.0%	—	—	Put	037833100
ABBV	ABBVIE INC	4,600	$105K	0.0%	—	—	Put	00287Y109
NEM	NEWMONT CORP	761	$82,378	0.0%	$44.64	+164.6%	COM	651639106
AMGN	AMGEN INC	4,200	$75,096	0.0%	—	—	Put	031162100