2026 Q1 Portfolio Activity
In 2026 Q1, Kopernik Global Investors, LLC maintained a portfolio of 33 distinct positions. The most significant new addition was WEYERHAEUSER CO, now representing 3.25% of the total fund value. They heavily accumulated shares in VISTA GOLD CORP, increasing the position by 461.6%. Conversely, Kopernik Global Investors, LLC completely exited their position in SLB LIMITED.
Position History
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Total Positions
33
Quarter
2026 Q1
Top Holding
SA (14.5%)
Top 10 Concentration
72.3%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-33 of 33
Kopernik Global Investors, LLC Full Holdings List — 2026 Q1
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
SA
SEABRIDGE GOLD ...
|
Basic Materials | 14.51% | 16.49% |
#1
Prev: #1
|
8.0 |
—
|
353,252 | 5.1% |
P
S
|
7,332,863 | $207,813,337 | 2020 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
RRC
RANGE RES CORP
|
Energy | 13.21% | 14.75% |
#2
Prev: #2
|
5.5 |
—
|
-1,050,289 | -20.0% |
P
S
|
4,188,614 | $189,241,580 | 2018 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
KT
KT CORP
|
Communication Services | 7.97% | 8.74% |
#3
Prev: #3
|
4.7 |
—
|
-446,830 | -7.7% |
P
S
|
5,321,922 | $114,155,227 | 2013 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
NTR
NUTRIEN LTD
|
Basic Materials | 7.50% | 8.64% |
#4
Prev: #4
|
4.0 |
—
|
-329,879 | -18.8% |
P
S
|
1,423,780 | $107,438,439 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
EXE
EXPAND ENERGY C...
|
Energy | 6.24% | 6.01% |
#5
3
Prev: #8
|
5.0 |
—
|
132,053 | 19.4% |
P
S
|
813,632 | $89,320,521 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
BEN
FRANKLIN RESOUR...
|
Financial Services | 5.81% | 6.43% |
#6
Prev: #6
|
2.8 |
—
|
153,422 | 4.6% |
P
S
|
3,522,587 | $83,203,505 | 2020 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
CNC
CENTENE CORP DE...
|
Healthcare | 5.75% | 6.66% |
#7
2
Prev: #5
|
4.8 |
—
|
492,054 | 24.3% |
P
S
|
2,517,106 | $82,410,050 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
NG
NOVAGOLD RESOUR...
|
Basic Materials | 4.08% | 6.27% |
#8
1
Prev: #7
|
1.6 |
—
|
-1,917,650 | -22.7% |
P
S
|
6,511,729 | $58,475,326 | 2013 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
CRESY
CRESUD S A C I ...
|
Industrials | 3.92% | 4.28% |
#9
Prev: #9
|
2.1 |
—
|
168,662 | 4.0% |
P
S
|
4,415,543 | $56,165,709 | 2013 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
WY
WEYERHAEUSER CO
|
Real Estate | 3.25% | — |
#10
Prev: #—
|
4.8 |
—
|
1,904,591 | — |
NEW
|
1,904,591 | $46,529,158 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
NAK
NORTHERN DYNAST...
|
Basic Materials | 3.19% | 3.41% |
#11
1
Prev: #12
|
4.3 |
—
|
10,994,668 | 50.8% |
P
S
|
32,655,846 | $45,718,184 | 2013 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
RYN
RAYONIER INC
|
Real Estate | 3.15% | — |
#12
Prev: #—
|
4.8 |
—
|
2,186,503 | — |
NEW
|
2,186,503 | $45,085,692 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
CNXC
CONCENTRIX CORP
|
Technology | 3.11% | — |
#13
Prev: #—
|
4.7 |
—
|
1,627,306 | — |
NEW
|
1,627,306 | $44,523,092 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
THM
INTERNATIONAL T...
|
Basic Materials | 2.83% | 2.15% |
#14
1
Prev: #13
|
3.6 |
—
|
3,202,014 | 22.2% |
P
S
|
17,650,432 | $40,595,994 | 2018 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
MOH
MOLINA HEALTHCA...
|
Healthcare | 2.72% | 1.74% |
#15
Prev: #15
|
4.1 |
—
|
166,407 | 132.6% |
P
S
|
291,941 | $38,915,735 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
NICE
NICE LTD
|
Technology | 1.93% | — |
#16
Prev: #—
|
4.3 |
—
|
250,948 | — |
NEW
|
250,948 | $27,669,526 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
VGZ
VISTA GOLD CORP
|
Basic Materials | 1.90% | 0.39% |
#17
2
Prev: #19
|
3.8 |
—
|
11,385,421 | 461.6% |
P
S
|
13,852,010 | $27,149,940 | 2021 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
B
BARRICK MNG COR...
|
Basic Materials | 1.60% | 2.05% |
#18
4
Prev: #14
|
1.1 |
—
|
-30,007 | -5.1% |
P
S
|
560,044 | $22,844,195 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
RGLD
ROYAL GOLD INC
|
Basic Materials | 1.53% | 3.72% |
#19
8
Prev: #11
|
0.6 |
—
|
-123,519 | -58.9% |
P
S
|
86,159 | $21,926,604 | 2015 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
IE
IVANHOE ELECTRI...
|
Basic Materials | 1.47% | 0.55% |
#20
2
Prev: #18
|
3.6 |
—
|
1,355,418 | 316.1% |
P
S
|
1,784,170 | $21,088,889 | 2022 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
HUM
HUMANA INC
|
Healthcare | 1.37% | — |
#21
Prev: #—
|
4.0 |
—
|
113,385 | — |
NEW
|
113,385 | $19,659,825 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
CMCSA
COMCAST CORP NE...
|
Communication Services | 1.30% | 1.55% |
#22
6
Prev: #16
|
1.5 |
—
|
no change | no change |
P
S
|
649,213 | $18,638,905 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
AL
AIR LEASE CORP
|
Industrials | 1.26% | 1.46% |
#23
6
Prev: #17
|
1.0 |
—
|
-7,401 | -2.6% |
P
S
|
277,612 | $18,028,123 | 2022 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
KEP
KOREA ELEC PWR ...
|
Utilities | 0.21% | 0.35% |
#24
4
Prev: #20
|
0.1 |
—
|
-61,011 | -22.8% |
P
S
|
207,140 | $2,951,745 | 2013 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
IRS
IRSA INVERSIONE...
|
Real Estate | 0.10% | 0.11% |
#25
3
Prev: #22
|
0.5 |
—
|
-3 | -0.0% |
P
S
|
85,363 | $1,383,736 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
PLG
PLATINUM GROUP ...
|
Basic Materials | 0.04% | — |
#26
Prev: #—
|
3.5 |
—
|
358,692 | — |
NEW
|
358,692 | $634,885 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
AZO
PUT
AUTOZONE INC
|
PUT Option | 0.02% | 0.02% |
#27
4
Prev: #23
|
1.0 |
—
|
no change | no change |
P
S
|
400 | $222,600 | 2015 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
AAPL
PUT
APPLE INC
|
PUT Option | 0.01% | 0.01% |
#28
2
Prev: #26
|
1.0 |
—
|
no change | no change |
P
S
|
5,000 | $112,500 | 2018 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
ABBV
PUT
ABBVIE INC
|
PUT Option | 0.01% | 0.01% |
#29
4
Prev: #25
|
1.0 |
—
|
no change | no change |
P
S
|
4,600 | $105,340 | 2018 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
NEM
NEWMONT CORP
|
Basic Materials | 0.01% | 0.19% |
#30
9
Prev: #21
|
0.0 |
—
|
-22,440 | -96.7% |
P
S
|
761 | $82,378 | 2014 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
AMGN
PUT
AMGEN INC
|
PUT Option | 0.01% | 0.00% |
#31
4
Prev: #27
|
2.5 |
—
|
1,100 | 35.5% |
P
S
|
4,200 | $75,096 | 2023 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
PAYX
PUT
PAYCHEX INC
|
PUT Option | 0.00% | 0.01% |
Sold All 😨
(Was: #24) |
0.0 |
—
|
-5,600 | -100.0% |
CLOSED
|
— | $— | 2021 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
SLB
SLB LIMITED
|
Energy | 0.00% | 4.01% |
Sold All 😨
(Was: #10) |
0.0 |
—
|
-1,306,620 | -100.0% |
CLOSED
|
— | $— | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 |
Showing 1-33 of 33 holdings