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Asset Manager ← All Institutions

Kopernik Global Investors, LLC

Q4 2025 · Filed 2026-02-13
Market Value
$1.3B
+3.1%
Holdings
23
-1
New Purchases
2
Added To
7
Closed
2
Reduced
8
Top 10 Concentration
82.4%
Turnover
17.4%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
SA 16.52% 13.84% +2.68% $207M
NTR 8.66% 6.13% +2.52% $108M
RGLD 3.73% 1.92% +1.81% $47M
MOH 1.74% 0.00% +1.74% $22M
CMCSA 1.55% 0.00% +1.55% $19M
CRESY 4.29% 2.83% +1.46% $54M
KT 8.75% 7.33% +1.43% $109M
NAK 3.41% 2.14% +1.27% $43M
BEN 6.44% 5.22% +1.22% $80M
RRC 14.78% 13.73% +1.05% $185M
THM 2.15% 1.95% +0.20% $27M
KEP 0.35% 0.29% +0.07% $4M
CNC 6.67% 6.64% +0.02% $83M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
B 2.06% 8.26% -6.21% $26M
NG 6.28% 9.54% -3.25% $79M
SQM 0.00% 2.88% -2.88% $0
SAND 0.00% 1.64% -1.64% $0
SLB 4.01% 5.41% -1.40% $50M
IE 0.55% 1.38% -0.84% $7M
EXE 6.02% 6.47% -0.45% $75M
VGZ 0.39% 0.55% -0.16% $5M
NEM 0.19% 0.34% -0.15% $2M
AL 1.46% 1.50% -0.03% $18M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 11 $496M 39.7%
Mid Cap 7 $619M 49.5%
Small Cap 5 $135M 10.8%

Portfolio Analytics

Avg Market Cap
$24.6B
Median Market Cap
$9.7B
Avg P/E
23.2
Median P/E
12.5
Avg Dividend Yield
0.02%
Avg Beta
0.91
# Stocks
23
# ETFs / Funds
0

Top Holdings (23 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 SA 16.52% 6,979,611 $207M $29.59 $39M +32,945 +0.5%
2 RRC 14.78% 5,238,903 $185M $35.26 $18M +818,295 +18.5%
3 KT 8.75% 5,768,752 $109M $18.97 $21M +1,213,304 +26.6%
4 NTR 8.66% 1,753,659 $108M $61.72 $34M +487,059 +38.5%
5 CNC 6.67% 2,025,052 $83M $41.15 $3M -231,829 -10.3%
6 BEN 6.44% 3,369,165 $80M $23.89 $17M +633,541 +23.2%
7 NG 6.28% 8,429,379 $79M $9.32 -$37M -4,708,198 -35.8%
8 EXE 6.02% 681,579 $75M $110.36 -$3M -56,468 -7.7%
9 CRESY 4.29% 4,246,881 $54M $12.63 $19M +519,091 +13.9%
10 SLB 4.01% 1,306,620 $50M $38.38 -$15M -603,168 -31.6%
11 RGLD 3.73% 209,678 $47M $222.29 $23M +93,613 +80.7%
12 NAK 3.41% 21,661,178 $43M $1.97 $17M
13 THM 2.15% 14,448,418 $27M $1.86 $3M
14 B 2.06% 590,051 $26M $43.55 -$74M -2,467,339 -80.7%
15 MOH 1.74% 125,534 $22M $173.54 +125,534 NEW
16 CMCSA 1.55% 649,213 $19M $29.89 +649,213 NEW
17 AL 1.46% 285,013 $18M $64.23 $165K
18 IE 0.55% 428,752 $7M $15.98 -$10M -907,233 -67.9%
19 VGZ 0.39% 2,466,589 $5M $1.97 -$2M -662,758 -21.2%
20 KEP 0.35% 268,151 $4M $16.50 $925K
21 NEM 0.19% 23,201 $2M $99.85 -$2M -25,315 -52.2%
22 SQM —% -$35M -812,944 -100.0% SOLD
23 SAND —% -$20M -1,586,602 -100.0% SOLD

Options Breakdown

1 Calls $0 Call Value 5 Puts $554K Put Value

Top Calls

SymbolSharesValueStatus
SLV $0 SOLD

Top Puts

SymbolSharesValueStatus
AZO 400 $214K
PAYX 5,600 $179K
ABBV 4,600 $84K
AAPL 5,000 $77K
AMGN 3,100 $465

New Positions

SymbolValue% Port
MOH $22M 1.74%
CMCSA $19M 1.55%

Sold Out Positions

SymbolValue% Port
SQM —%
SAND —%
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