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Q2 2026 13F · SEC CIK 1599814

Kopernik Global Investors, LLC

Hedge fundFiled 2026-08-11 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value
$1.6B
Reported positions
26
Top holdings a year, 3 yrs
+40.6%
Assets under management
$10.2B

Kopernik Global Investors, LLC is a hedge fund that reported 26 positions worth $1.6B in its Q2 2026 13F, filed 2026-08-11. Its largest holdings were Range Res Corp (RRC, 15.0%), Seabridge Gold Inc (SA, 11.9%), Expand Energy Corporation (EXE, 9.6%). A portfolio copying its top holdings returned 40.6% a year over the last 3 years, against 20.4% for the S&P 500.

Kopernik Global Investors, LLC holdings all 26 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Kopernik Global Investors, LLC 13F holdings
Stock% of 13F valueShare changeReported value
RRCRange Res Corp15.0%+57.0%$244.6M
SASeabridge Gold Inc11.9%—$194.5M
EXEExpand Energy Corporation9.6%+111.8%$157.2M
KTKt Corp9.6%+69.9%$156.3M
NTRNutrien Ltd8.4%+53.5%$137.6M
WYWeyerhaeuser Co5.5%+97.3%$90.0M
CNXCConcentrix Corp4.4%+95.2%$71.2M
RYNRayonier Inc4.3%+49.5%$69.6M
NAKNorthern Dynasty Minerals Lt3.8%-1.5%$61.8M
CRESYCresud S A C I F Y A3.3%+8.0%$53.4M
NICENice Ltd3.1%+124.4%$51.1M
BENFranklin Resources Inc2.7%-62.5%$43.9M
RGLDRoyal Gold Inc2.6%+149.5%$42.9M
CNCCentene Corp Del2.5%-74.3%$41.5M
NGNovagold Resources Inc2.5%+5.9%$41.2M
THMInternational Tower Hill Min2.3%+6.3%$37.3M
EPAMEpam Sys Inc2.0%—$32.0M
CMCSAComcast Corp New1.9%+96.9%$31.4M
VGZVista Gold Corp1.6%+1.4%$26.8M
MOSMosaic Co1.5%—$23.7M
IEIvanhoe Electric Inc0.6%-42.0%$9.9M
BBarrick Mng Corp0.3%-76.0%$4.9M
NEMNewmont Corp0.3%+6513.4%$4.7M
KEPKorea Elec Pwr Corp0.2%+0.0%$2.5M
IRSIrsa Inversiones Y Rep S A0.1%-0.0%$1.3M
PLGPlatinum Group Metals Ltd0.0%+13.5%$550K

What Kopernik Global Investors, LLC bought and sold in Q2 2026, against Q1 2026.

New positions

Added to

Reduced

Sold out

Share counts compared with the Q1 2026 13F; a split also changes share counts.

How the holdings did against the S&P 500.

1 year
+48.5% /yr
S&P 500 +20.1%
3 years
+40.6% /yr
S&P 500 +20.4%
5 years
+33.5% /yr
S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter13F valuePositions
Q2 2026$1.6B26
Q1 2026$1.4B27
Q4 2025$1.3B22
Q3 2025$1.2B22
Q2 2025$910.0M22
Q1 2025$964.4M24
Q4 2024$935.1M26
Q3 2024$999.6M24
Q2 2024$887.2M22
Q1 2024$952.9M22
Q4 2023$965.1M23
Q3 2023$860.8M22

Questions about Kopernik Global Investors, LLC's portfolio

What stocks does Kopernik Global Investors, LLC own?

Kopernik Global Investors, LLC's latest 13F, for Q2 2026 and filed Aug 11, 2026, lists 26 positions worth $1.6B. The largest are Range Res Corp (RRC) at 15.0%, Seabridge Gold Inc (SA) at 11.9%, Expand Energy Corporation (EXE) at 9.6%, Kt Corp (KT) at 9.6% and Nutrien Ltd (NTR) at 8.4%.

What did Kopernik Global Investors, LLC buy last quarter?

In Q2 2026, Kopernik Global Investors, LLC added a new position in Seabridge Gold Inc (SA), a new position in Epam Sys Inc (EPAM), a new position in Mosaic Co (MOS), Newmont Corp (NEM) (+6513.4% shares), Royal Gold Inc (RGLD) (+149.5% shares) and Nice Ltd (NICE) (+124.4% shares), compared with its Q1 2026 filing.

What did Kopernik Global Investors, LLC sell last quarter?

In Q2 2026, Kopernik Global Investors, LLC sold all of Seabridge Gold Inc (SA), sold all of Molina Healthcare Inc (MOH), sold all of Humana Inc (HUM), sold all of Air Lease Corp (AL), Barrick Mng Corp (B) (-76.0% shares), Centene Corp Del (CNC) (-74.3% shares) and Franklin Resources Inc (BEN) (-62.5% shares), compared with its Q1 2026 filing.

How has Kopernik Global Investors, LLC's portfolio performed?

A portfolio copying Kopernik Global Investors, LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +40.6% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +48.5% against +20.1%. Over 5 years: +33.5% a year against +11.6%.

When is Kopernik Global Investors, LLC's next 13F filing due?

13F filings are due 45 days after each quarter ends. Kopernik Global Investors, LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Kopernik Global Investors, LLC manage?

Kopernik Global Investors, LLC reported $10.2B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $1.6B.