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Asset Manager ← All Institutions

Kopernik Global Investors, LLC

Q2 2025 · Filed 2025-08-14
Market Value
$910M
+5.0%
Holdings
25
New Purchases
2
Added To
7
Closed
3
Reduced
11
Top 10 Concentration
82.8%
Turnover
20.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
B 11.73% 0.00% +11.73% $107M
NG 8.59% 6.27% +2.32% $78M
BEN 7.45% 5.41% +2.04% $68M
SA 11.78% 9.89% +1.89% $107M
NXE 1.34% 0.00% +1.34% $12M
IE 3.40% 2.24% +1.16% $31M
NTR 3.67% 3.28% +0.39% $33M
THM 1.36% 1.05% +0.30% $12M
NAK 2.90% 2.61% +0.29% $26M
CRESY 2.83% 2.55% +0.28% $26M
AL 1.84% 1.66% +0.19% $17M
SQM 7.14% 6.99% +0.15% $65M
VGZ 0.41% 0.39% +0.02% $4M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
WPM 0.00% 6.21% -6.21% $0
EXE 6.72% 11.11% -4.39% $61M
RGLD 1.58% 5.60% -4.02% $14M
KT 9.77% 12.90% -3.14% $89M
PPTA 0.00% 1.36% -1.36% $0
NEM 1.16% 2.27% -1.11% $11M
AMTM 1.65% 2.26% -0.61% $15M
RRC 12.56% 13.12% -0.56% $114M
KEP 0.42% 0.94% -0.52% $4M
SAND 1.66% 1.81% -0.16% $15M
HMY 0.00% 0.03% -0.03% $0
SLV 0.04% 0.06% -0.01% $399K

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 11 $363M 39.9%
Mid Cap 9 $448M 49.2%
Small Cap 5 $99M 10.9%

Portfolio Analytics

Avg Market Cap
$18.9B
Median Market Cap
$8.8B
Avg P/E
23.2
Median P/E
12.5
Avg Dividend Yield
0.01%
Avg Beta
0.93
# Stocks
24
# ETFs / Funds
1

Top Holdings (25 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 RRC 12.56% 2,809,804 $114M $40.67 $607K -36,859 -1.3%
2 SA 11.78% 7,382,606 $107M $14.52 $22M +39,651 +0.5%
3 B 11.73% 5,128,287 $107M $20.82 +5,128,287 NEW
4 KT 9.77% 4,276,464 $89M $20.78 -$23M -2,035,015 -32.2%
5 NG 8.59% 19,115,209 $78M $4.09 $24M +523,479 +2.8%
6 BEN 7.45% 2,843,849 $68M $23.85 $21M +407,867 +16.7%
7 SQM 7.14% 1,842,113 $65M $35.27 $4M +318,445 +20.9%
8 EXE 6.72% 522,716 $61M $116.94 -$35M -341,771 -39.5%
9 NTR 3.67% 573,644 $33M $58.24 $5M +2,163 +0.4%
10 IE 3.40% 3,412,561 $31M $9.07 $12M +72,376 +2.2%
11 NAK 2.90% 19,666,067 $26M $1.34 $4M
12 CRESY 2.83% 2,392,876 $26M $10.76 $4M +396,741 +19.9%
13 AL 1.84% 286,682 $17M $58.49 $2M -10,229 -3.5%
14 SAND 1.66% 1,603,160 $15M $9.40 -$640K -477,620 -22.9%
15 AMTM 1.65% 636,226 $15M $23.61 -$5M -441,269 -41.0%
16 RGLD 1.58% 81,083 $14M $177.84 -$34M -215,707 -72.7%
17 THM 1.36% 14,448,418 $12M $0.86 $3M
18 NXE 1.34% 1,760,522 $12M $6.94 +1,760,522 NEW
19 NEM 1.16% 180,570 $11M $58.26 -$9M -226,045 -55.6%
20 KEP 0.42% 268,151 $4M $14.24 -$4M -831,754 -75.6%
21 VGZ 0.41% 3,830,394 $4M $0.98 $391K -212,131 -5.2%
22 SLV 0.04% 12,155 $399K $32.81 -$83K -3,401 -21.9%
23 HMY —% -$254K -17,215 -100.0% SOLD
24 WPM —% -$54M -692,499 -100.0% SOLD
25 PPTA —% -$12M -1,104,398 -100.0% SOLD

Options Breakdown

1 Calls $359K Call Value 7 Puts $410K Put Value 1.14 P/C Ratio

Top Calls

SymbolSharesValueStatus
SLV 141,400 $359K NEW

Top Puts

SymbolSharesValueStatus
AAPL 5,000 $247K
ABBV 4,200 $62K
PAYX 5,600 $49K
AMGN 3,100 $41K
AZO 100 $10K
CMG $0 SOLD
NVDA $0 SOLD

New Positions

SymbolValue% Port
B $107M 11.73%
NXE $12M 1.34%

Sold Out Positions

SymbolValue% Port
HMY —%
WPM —%
PPTA —%
View SEC EDGAR Filings for Kopernik Global Investors, LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms