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Asset Manager ← All Institutions

Kopernik Global Investors, LLC

Q3 2025 · Filed 2025-11-14
Market Value
$1.2B
+33.2%
Holdings
24
-1
New Purchases
2
Added To
7
Closed
3
Reduced
10
Top 10 Concentration
82.6%
Turnover
20.8%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
CNC 6.64% 0.00% +6.64% $81M
SLB 5.41% 0.00% +5.41% $66M
NTR 6.13% 3.67% +2.46% $74M
SA 13.84% 11.78% +2.06% $168M
RRC 13.73% 12.56% +1.17% $166M
NG 9.54% 8.59% +0.95% $116M
THM 1.95% 1.36% +0.60% $24M
RGLD 1.92% 1.58% +0.34% $23M
VGZ 0.55% 0.41% +0.14% $7M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
SQM 2.88% 7.14% -4.26% $35M
B 8.26% 11.73% -3.47% $100M
KT 7.33% 9.77% -2.44% $89M
BEN 5.22% 7.45% -2.23% $63M
IE 1.38% 3.40% -2.02% $17M
AMTM 0.00% 1.65% -1.65% $0
NXE 0.00% 1.34% -1.34% $0
NEM 0.34% 1.16% -0.82% $4M
NAK 2.14% 2.90% -0.75% $26M
AL 1.50% 1.84% -0.35% $18M
EXE 6.47% 6.72% -0.25% $78M
KEP 0.29% 0.42% -0.13% $3M
SLV 0.00% 0.04% -0.04% $0
SAND 1.64% 1.66% -0.02% $20M
CRESY 2.83% 2.83% -0.00% $34M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 11 $528M 43.6%
Mid Cap 8 $577M 47.6%
Small Cap 5 $107M 8.9%

Portfolio Analytics

Avg Market Cap
$21.5B
Median Market Cap
$9.3B
Avg P/E
23.6
Median P/E
13.8
Avg Dividend Yield
0.01%
Avg Beta
0.94
# Stocks
23
# ETFs / Funds
1

Top Holdings (24 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 SA 13.84% 6,946,666 $168M $24.15 $61M -435,940 -5.9%
2 RRC 13.73% 4,420,608 $166M $37.64 $52M +1,610,804 +57.3%
3 NG 9.54% 13,137,577 $116M $8.80 $37M -5,977,632 -31.3%
4 B 8.26% 3,057,390 $100M $32.77 -$7M -2,070,897 -40.4%
5 KT 7.33% 4,555,448 $89M $19.50 -$34K +278,984 +6.5%
6 CNC 6.64% 2,256,881 $81M $35.68 +2,256,881 NEW
7 EXE 6.47% 738,047 $78M $106.24 $17M +215,331 +41.2%
8 NTR 6.13% 1,266,600 $74M $58.71 $41M +692,956 +120.8%
9 SLB 5.41% 1,909,788 $66M $34.37 +1,909,788 NEW
10 BEN 5.22% 2,735,624 $63M $23.13 -$5M -108,225 -3.8%
11 SQM 2.88% 812,944 $35M $42.98 -$30M -1,029,169 -55.9%
12 CRESY 2.83% 3,727,790 $34M $9.20 $9M +1,334,914 +55.8%
13 NAK 2.14% 21,661,178 $26M $1.20 -$359K +1,995,111 +10.1%
14 THM 1.95% 14,448,418 $24M $1.64 $11M
15 RGLD 1.92% 116,065 $23M $200.58 $9M +34,982 +43.1%
16 SAND 1.64% 1,586,602 $20M $12.52 $5M -16,558 -1.0%
17 AL 1.50% 285,013 $18M $63.65 $1M -1,669 -0.6%
18 IE 1.38% 1,335,985 $17M $12.55 -$14M -2,076,576 -60.9%
19 VGZ 0.55% 3,129,347 $7M $2.13 $3M -701,047 -18.3%
20 NEM 0.34% 48,516 $4M $84.31 -$6M -132,054 -73.1%
21 KEP 0.29% 268,151 $3M $13.05 -$319K
22 SLV —% -$399K -12,155 -100.0% SOLD
23 AMTM —% -$15M -636,226 -100.0% SOLD
24 NXE —% -$12M -1,760,522 -100.0% SOLD

Options Breakdown

1 Calls $1M Call Value 5 Puts $327K Put Value 0.25 P/C Ratio

Top Calls

SymbolSharesValueStatus
SLV 141,400 $1M

Top Puts

SymbolSharesValueStatus
PAYX 5,600 $113K
AAPL 5,000 $112K
AZO 400 $76K
AMGN 3,100 $21K
ABBV 4,200 $4K

New Positions

SymbolValue% Port
CNC $81M 6.64%
SLB $66M 5.41%

Sold Out Positions

SymbolValue% Port
AMTM —%
NXE —%
SLV —%
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