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Kopernik Global Investors, LLC

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13F filer, CIK 1599814, TAMPA, FL

Kopernik Global Investors, LLC reported $1,432,165,836 across 31 holdings for the quarter ended 2026-03-31, in a 13F-HR filed 2026-05-13. Its ten largest share positions make up 72.28% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001599814-26-000003

Period
2026-03-31
Reported value
$1.43B
Holdings
31
Top 10 weight
72.28%
New
6
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
WYnew+1,904,591$46.5M
RYNnew+2,186,503$45.1M
CNXCnew+1,627,306$44.5M
NICEnew+250,948$27.7M
VGZadded+11,385,421$22.3M

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
SLBexited-1,306,620-$50.1M
RRCreduced-1,050,289-$47.5M
RGLDreduced-123,519-$31.4M
NTRreduced-329,879-$24.9M
NGreduced-1,917,650-$17.2M

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, Q1 2026

Share positions as resolved from 13F-HR 0001599814-26-000003, largest first. % of portfolio is the value over $1,431,650,300, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
SASEABRIDGE GOLD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 3,047,048 shares; 2024Q4: 3,047,048 shares; 2025Q1: 7,342,955 shares; 2025Q2: 7,382,606 shares; 2025Q3: 6,946,666 shares; 2025Q4: 6,979,611 shares; 2026Q1: 7,332,863 shares 7,332,863$208M14.52%+353,252Timeline
RRCRANGE RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 2,998,038 shares; 2024Q4: 2,706,620 shares; 2025Q1: 2,846,663 shares; 2025Q2: 2,809,804 shares; 2025Q3: 4,420,608 shares; 2025Q4: 5,238,903 shares; 2026Q1: 4,188,614 shares 4,188,614$189M13.22%-1,050,289Timeline
KTKT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 8,470,754 shares; 2024Q4: 7,915,343 shares; 2025Q1: 6,311,479 shares; 2025Q2: 4,276,464 shares; 2025Q3: 4,555,448 shares; 2025Q4: 5,768,752 shares; 2026Q1: 5,321,922 shares 5,321,922$114M7.97%-446,830Timeline
NTRNUTRIEN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 81,164 shares; 2025Q1: 571,481 shares; 2025Q2: 573,644 shares; 2025Q3: 1,266,600 shares; 2025Q4: 1,753,659 shares; 2026Q1: 1,423,780 shares 1,423,780$107M7.5%-329,879Timeline
EXEEXPAND ENERGY CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 919,945 shares; 2025Q1: 864,487 shares; 2025Q2: 522,716 shares; 2025Q3: 738,047 shares; 2025Q4: 681,579 shares; 2026Q1: 813,632 shares 813,632$89.3M6.24%+132,053Timeline
BENFRANKLIN TEMPLETON INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,208,837 shares; 2024Q4: 1,208,837 shares; 2025Q1: 2,435,982 shares; 2025Q2: 2,843,849 shares; 2025Q3: 2,735,624 shares; 2025Q4: 3,369,165 shares; 2026Q1: 3,522,587 shares 3,522,587$83.2M5.81%+153,422Timeline
CNCCENTENE CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 2,256,881 shares; 2025Q4: 2,025,052 shares; 2026Q1: 2,517,106 shares 2,517,106$82.4M5.76%+492,054Timeline
NGNOVAGOLD RESOURCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 13,818,863 shares; 2024Q4: 17,006,844 shares; 2025Q1: 18,591,730 shares; 2025Q2: 19,115,209 shares; 2025Q3: 13,137,577 shares; 2025Q4: 8,429,379 shares; 2026Q1: 6,511,729 shares 6,511,729$58.5M4.08%-1,917,650Timeline
CRESYCRESUD S A C I F Y AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,411,257 shares; 2024Q4: 1,411,257 shares; 2025Q1: 1,996,135 shares; 2025Q2: 2,392,876 shares; 2025Q3: 3,727,790 shares; 2025Q4: 4,246,881 shares; 2026Q1: 4,415,543 shares 4,415,543$56.2M3.92%+168,662Timeline
WYWEYERHAEUSER COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 1,904,591 shares 1,904,591$46.5M3.25%newTimeline
NAKNORTHERN DYNASTY MINERALS LTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 32,070,691 shares; 2024Q4: 31,470,739 shares; 2025Q1: 19,666,067 shares; 2025Q2: 19,666,067 shares; 2025Q3: 21,661,178 shares; 2025Q4: 21,661,178 shares; 2026Q1: 32,655,846 shares 32,655,846$45.7M3.19%+10,994,668Timeline
RYNRAYONIER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 2,186,503 shares 2,186,503$45.1M3.15%newTimeline
CNXCCONCENTRIX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 1,627,306 shares 1,627,306$44.5M3.11%newTimeline
THMINTERNATIONAL TOWER HILL MINQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 13,949,307 shares; 2024Q4: 13,949,307 shares; 2025Q1: 14,448,418 shares; 2025Q2: 14,448,418 shares; 2025Q3: 14,448,418 shares; 2025Q4: 14,448,418 shares; 2026Q1: 17,650,432 shares 17,650,432$40.6M2.84%+3,202,014Timeline
MOHMOLINA HEALTHCARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 125,534 shares; 2026Q1: 291,941 shares 291,941$38.9M2.72%+166,407Timeline
NICENICE LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 250,948 shares 250,948$27.7M1.93%newTimeline
VGZVISTA GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 3,942,622 shares; 2024Q4: 4,006,199 shares; 2025Q1: 4,042,525 shares; 2025Q2: 3,830,394 shares; 2025Q3: 3,129,347 shares; 2025Q4: 2,466,589 shares; 2026Q1: 13,852,010 shares 13,852,010$27.1M1.9%+11,385,421Timeline
BBARRICK MNG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 5,128,287 shares; 2025Q3: 3,057,390 shares; 2025Q4: 590,051 shares; 2026Q1: 560,044 shares 560,044$22.8M1.6%-30,007Timeline
RGLDROYAL GOLD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 528,237 shares; 2024Q4: 518,178 shares; 2025Q1: 296,790 shares; 2025Q2: 81,083 shares; 2025Q3: 116,065 shares; 2025Q4: 209,678 shares; 2026Q1: 86,159 shares 86,159$21.9M1.53%-123,519Timeline
IEIVANHOE ELECTRIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 2,426,418 shares; 2024Q4: 2,557,225 shares; 2025Q1: 3,340,185 shares; 2025Q2: 3,412,561 shares; 2025Q3: 1,335,985 shares; 2025Q4: 428,752 shares; 2026Q1: 1,784,170 shares 1,784,170$21.1M1.47%+1,355,418Timeline
HUMHUMANA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 113,385 shares 113,385$19.7M1.37%newTimeline
CMCSACOMCAST CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 649,213 shares; 2026Q1: 649,213 shares 649,213$18.6M1.3%0Timeline
ALAIR LEASE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 336,174 shares; 2024Q4: 262,960 shares; 2025Q1: 296,911 shares; 2025Q2: 286,682 shares; 2025Q3: 285,013 shares; 2025Q4: 285,013 shares; 2026Q1: 277,612 shares 277,612$18M1.26%-7,401Timeline
KEPKOREA ELEC PWR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,099,905 shares; 2024Q4: 1,099,905 shares; 2025Q1: 1,099,905 shares; 2025Q2: 268,151 shares; 2025Q3: 268,151 shares; 2025Q4: 268,151 shares; 2026Q1: 207,140 shares 207,140$2.95M0.21%-61,011Timeline
IRSIRSA INVERSIONES Y REP S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 28,990 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 85,366 shares; 2026Q1: 85,363 shares 85,363$1.38M0.1%-3Timeline
PLGPLATINUM GROUP METALS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 358,692 shares 358,692$635K0.04%newTimeline
NEMNEWMONT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 755,147 shares; 2025Q1: 406,615 shares; 2025Q2: 180,570 shares; 2025Q3: 48,516 shares; 2025Q4: 23,201 shares; 2026Q1: 761 shares 761$82.4K0.01%-22,440Timeline

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
AZOAUTOZONE INC Stockput400$223K0
AAPLAPPLE INC COMput5,000$112K0
ABBVABBVIE INC COMput4,600$105K0
AMGNAMGEN INC COMput4,200$75.1K+1,100

Sold out in Q1 2026

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

SecurityShares beforeValue beforeType
SLBSLB LIMITED1,306,620$50.1Mshares
PAYXPAYCHEX INC5,600$179Kput

How Q1 2026 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 0001599814-26-000003 base2026-05-13acceptance time not in the bulk data set