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Kopernik Global Investors, LLC

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13F filer, CIK 1599814, TAMPA, FL

Kopernik Global Investors, LLC reported $935,407,001 across 34 holdings for the quarter ended 2024-12-31, in a 13F-HR filed 2025-02-13. Its ten largest share positions make up 75.22% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001599814-25-000002

Period
2024-12-31
Reported value
$935M
Holdings
34
Top 10 weight
75.22%
New
5
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
EXEnew+919,945$91.6M
NEMnew+755,147$28.1M
AMTMnew+765,982$16.1M
NGadded+3,187,981$10.6M
BARRICK GOLD CORPadded+404,645$6.27M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
SOUTHWESTERN ENERGY COexited-18,279,049-$130M
ARCADIUM LITHIUM PLCreduced-11,121,262-$57.1M
RRCreduced-291,418-$10.5M
KTreduced-555,411-$8.62M
NXEreduced-670,729-$4.43M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2024

Share positions as resolved from 13F-HR 0001599814-25-000002, largest first. % of portfolio is the value over $935,073,984, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
KTKT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,470,754 shares; 2024Q4: 7,915,343 shares 7,915,343$123M13.14%-555,411Timeline
RRCRANGE RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,998,038 shares; 2024Q4: 2,706,620 shares 2,706,620$97.4M10.41%-291,418Timeline
EXEEXPAND ENERGY CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 919,945 shares 919,945$91.6M9.79%newTimeline
BARRICK GOLD CORPBARRICK GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,407,967 shares; 2024Q4: 4,812,612 shares 4,812,612$74.6M7.98%+404,645
RGLDROYAL GOLD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 528,237 shares; 2024Q4: 518,178 shares 518,178$68.3M7.31%-10,059Timeline
WPMWHEATON PRECIOUS METALS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,177,092 shares; 2024Q4: 1,177,092 shares 1,177,092$66.2M7.08%0Timeline
NGNOVAGOLD RESOURCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,818,863 shares; 2024Q4: 17,006,844 shares 17,006,844$56.6M6.06%+3,187,981Timeline
SQMSOCIEDAD QUIMICA Y MINERA DEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,462,568 shares; 2024Q4: 1,462,568 shares 1,462,568$53.2M5.69%0Timeline
ARCADIUM LITHIUM PLCARCADIUM LITHIUM PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 18,491,700 shares; 2024Q4: 7,370,438 shares 7,370,438$37.8M4.04%-11,121,262
SASEABRIDGE GOLD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,047,048 shares; 2024Q4: 3,047,048 shares 3,047,048$34.8M3.72%0Timeline
NEMNEWMONT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 755,147 shares 755,147$28.1M3.01%newTimeline
BENFRANKLIN TEMPLETON INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,208,837 shares; 2024Q4: 1,208,837 shares 1,208,837$24.5M2.62%0Timeline
PPTAPERPETUA RESOURCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,527,323 shares; 2024Q4: 2,151,004 shares 2,151,004$23M2.45%-376,319Timeline
HMYHARMONY GOLD MNG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,917,511 shares; 2024Q4: 2,724,852 shares 2,724,852$22.4M2.39%-192,659Timeline
IEIVANHOE ELECTRIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,426,418 shares; 2024Q4: 2,557,225 shares 2,557,225$19.3M2.06%+130,807Timeline
BABAALIBABA GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 185,063 shares; 2024Q4: 220,556 shares 220,556$18.7M2%+35,493Timeline
NAKNORTHERN DYNASTY MINERALS LTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 32,070,691 shares; 2024Q4: 31,470,739 shares 31,470,739$18.3M1.96%-599,952Timeline
CRESYCRESUD S A C I F Y AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,411,257 shares; 2024Q4: 1,411,257 shares 1,411,257$17.8M1.91%0Timeline
AMTMAMENTUM HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 765,982 shares 765,982$16.1M1.72%newTimeline
ALAIR LEASE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 336,174 shares; 2024Q4: 262,960 shares 262,960$12.7M1.36%-73,214Timeline
Sandstorm Gold LtdSandstorm Gold LtdQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,982,280 shares; 2024Q4: 1,982,280 shares 1,982,280$11.1M1.18%0
KEPKOREA ELEC PWR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,099,905 shares; 2024Q4: 1,099,905 shares 1,099,905$7.57M0.81%0Timeline
THMINTERNATIONAL TOWER HILL MINQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,949,307 shares; 2024Q4: 13,949,307 shares 13,949,307$6.35M0.68%0Timeline
NTRNUTRIEN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 81,164 shares 81,164$3.63M0.39%newTimeline
VGZVISTA GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,942,622 shares; 2024Q4: 4,006,199 shares 4,006,199$2.24M0.24%+63,577Timeline
NXENEXGEN ENERGY LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: restricted; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 675,934 shares; 2024Q4: 5,205 shares 5,205$34.4K<0.01%-670,729Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
AAPLAPPLE INC COMput5,000$130Knew
AMGNAMGEN INC COMput3,100$83.5K0
SLVISHARES SILVER TR COMcall33,700$49.2K0
CMGCHIPOTLE MEXICAN GRILL INC STOKput10,000$40.5K0
NVDANVIDIA CORPORATION COMput15,000$19.1K0
NVONOVO-NORDISK A S ADRput9,400$7.9K0
AZOAUTOZONE INC Stockput300$2.42K0
PAYXPAYCHEX INC COMput2,900$4350

Sold out in Q4 2024

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
SOUTHWESTERN ENERGY COSOUTHWESTERN ENERGY CO18,279,049$130Mshares
IRSIRSA INVERSIONES Y REP S A28,990$330Kshares

How Q4 2024 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001599814-25-000002 base2025-02-13acceptance time not in the bulk data set