1y return+53.4%S&P 500 +20.9%
3y return+187.3%S&P 500 +68.5%
5y return+289.1%S&P 500 +74.5%
10y return+417.6%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $518 against $357 in the S&P 500.2
Kopernik Global Investors, LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| RRCRange Res Corp | $244.6M | 15.0% | +57.0% |
| SASeabridge Gold Inc | $194.5M | 11.9% | New |
| EXEExpand Energy Corporation | $157.2M | 9.6% | +111.8% |
| KTKt Corp | $156.3M | 9.6% | +69.9% |
| NTRNutrien Ltd | $137.6M | 8.4% | +53.5% |
| WYWeyerhaeuser Co | $90.0M | 5.5% | +97.3% |
| CNXCConcentrix Corp | $71.2M | 4.4% | +95.2% |
| RYNRayonier Inc | $69.6M | 4.3% | +49.5% |
| NAKNorthern Dynasty Minerals Lt | $61.8M | 3.8% | −1.5% |
| CRESYCresud S A C I F Y A | $53.4M | 3.3% | +8.0% |
| NICENice Ltd | $51.1M | 3.1% | +124.4% |
| BENFranklin Resources Inc | $43.9M | 2.7% | −62.5% |
| RGLDRoyal Gold Inc | $42.9M | 2.6% | +149.5% |
| CNCCentene Corp Del | $41.5M | 2.5% | −74.3% |
| NGNovagold Resources Inc | $41.2M | 2.5% | +5.9% |
| THMInternational Tower Hill Min | $37.3M | 2.3% | +6.3% |
| EPAMEpam Sys Inc | $32.0M | 2.0% | New |
| CMCSAComcast Corp New | $31.4M | 1.9% | +96.9% |
| VGZVista Gold Corp | $26.8M | 1.6% | +1.4% |
| MOSMosaic Co | $23.7M | 1.5% | New |
| IEIvanhoe Electric Inc | $9.9M | 0.6% | −42.0% |
| BBarrick Mng Corp | $4.9M | 0.3% | −76.0% |
| NEMNewmont Corp | $4.7M | 0.3% | +6513.4% |
| KEPKorea Elec Pwr Corp | $2.5M | 0.2% | |
| IRSIrsa Inversiones Y Rep S A | $1.3M | 0.1% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| RRCRange Res Corp | June 30, 2020 | +560.6% | $244.6M |
| VGZVista Gold Corp | September 30, 2021 | +163.6% | $26.8M |
| NEMNewmont Corp | December 31, 2024 | +150.9% | $4.7M |
| CNCCentene Corp Del | September 30, 2025 | +79.9% | $41.5M |
| KTKt Corp | June 30, 2020 | +77.4% | $156.3M |
| BBarrick Mng Corp | June 30, 2025 | +76.4% | $4.9M |
| BENFranklin Resources Inc | September 30, 2024 | +65.1% | $43.9M |
| RGLDRoyal Gold Inc | June 30, 2020 | +60.6% | $42.9M |
| KEPKorea Elec Pwr Corp | June 30, 2020 | +51.6% | $2.5M |
| NTRNutrien Ltd | December 31, 2024 | +40.7% | $137.6M |
Sold off last quarter
- Seabridge Gold IncCUSIP 811916105 was $207.8M
- MOHMolina Healthcare Inc was $38.9M
- HUMHumana Inc was $19.7M
- Air Lease CorpCUSIP 00912X302 was $18.0M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +0.5% | +14.8% |
| March 31, 2026 | +5.5% | −4.6% |
| December 31, 2025 | +13.2% | +2.4% |
| September 30, 2025 | +27.8% | +7.8% |
| June 30, 2025 | +14.7% | +10.5% |
| March 31, 2025 | +16.2% | −4.6% |
| December 31, 2024 | −0.3% | +2.1% |
| September 30, 2024 | +13.8% | +5.4% |
| June 30, 2024 | +1.8% | +4.0% |
| March 31, 2024 | +7.8% | +10.0% |
| December 31, 2023 | +12.7% | +11.2% |
| September 30, 2023 | +0.3% | −3.6% |
| June 30, 2023 | +4.0% | +8.3% |
| March 31, 2023 | +7.3% | +7.0% |
| December 31, 2022 | +15.0% | +7.1% |
| September 30, 2022 | −3.4% | −5.3% |
| June 30, 2022 | −21.2% | −16.5% |
| March 31, 2022 | +39.5% | −4.9% |
| December 31, 2021 | +0.9% | +10.7% |
| September 30, 2021 | −1.4% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Kopernik Global Investors, LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1599814&type=13F-HR&dateb=&owner=include&count=40CIK 1599814
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1599814/000159981426000005/Filed August 11, 2026 · accession 0001599814-26-000005