Kopernik Global Investors portfolio
Concentrated managerInvestment firmPortfolio as of Jun 30, 2026 (Q2 2026) · filed with the SEC on Aug 11, 2026 · data updated on Nov 5, 2026 · Q2 2026 13F (filing) ↗ · all its 13F filings ↗
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Kopernik Global Investors reported a $1.6 bn portfolio of 26 positions to the SEC as of the end of Q2 2026. Its largest positions are RRC, SA, EXE. During the quarter it opened Epam Systems and exited Molina Healthcare.
Sections with a free account
What it reported after the quarter end (Q2 2026)
The 13F shows the portfolio as of Jun 30, 2026. Since then Kopernik Global Investors has filed these own trades with the SEC (Form 4, when it owns more than 10% of a company or holds a role in it) and stakes above 5% (13D and 13G). It is not everything it did: only what it must report before the next 13F.
Stake reported in the company · event of Jun 30, 2026 · filed Aug 14, 2026 · filing ↗
What changed this quarter
26 positions with a change (2 new, 17 added to, 5 trimmed, 2 sold); also, 1 exited through an acquisition or merger. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).
- Range Resources+57%more sharesIncreased13.2% → 15.0%
- Expand Energy+112%more sharesIncreased6.2% → 9.6%
- Centene−74%fewer sharesReduced5.8% → 2.5%
- Franklin Resources−63%fewer sharesReduced5.8% → 2.7%
- KT+70%more sharesIncreased8.0% → 9.6%
- Nutrien+53%more sharesIncreased7.5% → 8.4%
- Weyerhaeuser+97%more sharesIncreased3.3% → 5.5%
- Molina Healthcare−2.4 ppof portfolioSold out2.7% → —
- Concentrix+95%more sharesIncreased3.1% → 4.4%
- Epam Systems+2.0 ppof portfolioNew— → 2.0%
- Nice+124%more sharesIncreased1.9% → 3.1%
- Royal Gold+150%more sharesIncreased1.5% → 2.6%
The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight: what it bought or sold, excluding price effects.
Top holdings
- Range ResourcesRRC15.0%
- Seabridge GoldSA11.9%
- Expand EnergyEXE9.6%
- KTKT9.6%
- NutrienNTR8.4%
- WeyerhaeuserWY5.5%
- ConcentrixCNXC4.4%
- RayonierRYN4.3%
- Northern Dynasty MineralsNAK3.8%
- CresudCRESY3.3%
- NICENICE3.1%
- Franklin ResourcesBEN2.7%
- Royal GoldRGLD2.6%
- CenteneCNC2.5%
- Novagold ResourcesNG2.5%
“Since”: first quarter of the current run, unbroken until today. In the details, prices are the quarter-end prices of the quarters in which it added shares, per the 13F. The manager may have bought at any price within each quarter; the SEC only publishes the value at quarter end.
Portfolio by sector
- ● Materials 36%
- ● Energy 25%
- ● Real Estate 13%
- ● Communication Services 12%
- ● Information Technology 5%
- ● Industrials 4%
- ● Financials 3%
- ● Health Care 3%
How its portfolio changed (8 quarters)
Q2 2026: 26
Q2 2026: 76%
Q2 2026: 23.5%
Traded turnover: the weight it bought plus the weight it sold in the quarter, divided by two, excluding price moves. The plain “turnover” in the header does include that effect. With a free account: the full history and sectors over time.
Declared options (4)
Besides stocks, Kopernik Global Investors declared 4 puts (they gain if the stock falls) with a notional of $366K. The 13F reports the value of the underlying shares, not the premium paid, so these figures look large and are not added to the portfolio. Nor does it say whether the option is bought or written, or its strike or expiry: it may be a hedge.
Stakes above 5% (13D/13G)
Companies where this filer reported holding 5% or more of the shares. It is the figure from its latest filing on each one; history since December 2024.
How we classify it
Investment firm, per its Form ADV of Jul 27, 2026 (high confidence).
The data, as reported: KOPERNIK GLOBAL INVESTORS, LLC (CRD 168625): 7.B private funds: 2 hedge, 1 pe (gross assets $881M); 5.D assets by client type: pooled vehicles 44%, registered funds 43%, pension plans 8% (of $10.2 bn)
The type comes from a rule applied to that data. If it looks wrong, tell us.
Similar managers by type and size
Same type of filer and a 13F portfolio value between a third and three times this one. It is not a comparison of what they hold.
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