KG
Kopernik Global Investors, LLC 13F Holdings & Position Changes (Q2 2026)
Kopernik Global Investors, LLCCIK: 0001599814
ContrarianQuality / disciplined sizingHigh-turnover trader
Total reported value
$1.6B
Reporting period: 2026-06-30 · Number of holdings: 30
Kopernik Global Investors, LLC disclosed 30 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $1.6B and a quarterly turnover rate of 67.6%.
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Personality snowflake
- Concentration
- 30.78
- Portfolio Stability
- 67.62
- Momentum
- 0
- Sector conviction
- 71.49
- Diversification
- 60
- Sizing Uniformity
- 88.37
Kopernik Global Investors, LLC's disclosed holdings carry a Herfindahl concentration index of 0.077 — mathematically equivalent to about 13 equally-sized positions, well below its 30 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.16), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 64% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out SEA1EUR
New buy 811927102
Add EXE
+111.8% $67.8M
Trim CNC
-74.3% -$40.9M
Trim BEN
-62.5% -$39.3M
Sold out MOH
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | RRC | Range Resources CORP | Stock-Energy | 14.98% | +1.77% | +57.00% | |
| 2 | ✓ | Stock-Other | 11.91% | +11.91% | NEW | ||
| 3 | EXE | Expand Energy CORP | Stock-Energy | 9.63% | +3.39% | +111.83% | |
| 4 | KT | Kt Corp-sp Adr | Stock-Other | 9.57% | +1.60% | +69.94% | |
| 5 | NTR | Nutrien LTD | Stock-Materials | 8.43% | +0.93% | +53.49% | |
| 6 | WY | Weyerhaeuser Co | Stock-Real Estate | 5.51% | +2.26% | +97.34% | |
| 7 | CNXC | Concentrix CORP | Stock-Tech | 4.36% | +1.25% | +95.15% | |
| 8 | RYN | Rayonier Inc | Stock-Real Estate | 4.26% | +1.11% | +49.49% | |
| 9 | NAK | Northern Dynasty Minerals | Stock-Other | 3.79% | +0.60% | -1.46% | |
| 10 | CRESY | Cresud S.a.-spons Adr | Stock-Other | 3.27% | -0.65% | +7.97% | |
| 11 | NICE | Nice LTD - Spon Adr | Stock-Tech | 3.13% | +1.20% | +124.35% | |
| 12 | BEN | Franklin Resources Inc | Stock-Financials | 2.69% | -3.12% | -62.51% | |
| 13 | RGLD | Royal Gold Inc | Stock-Materials | 2.63% | +1.10% | +149.52% | |
| 14 | CNC | Centene CORP | Stock-Healthcare | 2.54% | -3.21% | -74.31% | |
| 15 | NG | Novagold Resources Inc | Stock-Other | 2.52% | -1.56% | +5.93% | |
| 16 | THM | Intl Tower Hill Mines LTD | Stock-Other | 2.29% | -0.54% | +6.33% | |
| 17 | EPAM | Epam Systems Inc | Stock-Tech | 1.96% | +1.96% | NEW | |
| 18 | CMCSA | Comcast Corp-class A | Stock-Comm Services | 1.92% | +0.62% | +96.88% | |
| 19 | VGZ | Vista Gold CORP | Stock-Other | 1.64% | -0.26% | +1.42% | |
| 20 | MOS | Mosaic Co/the | Stock-Materials | 1.45% | +1.45% | NEW | |
| 21 | IE | Ivanhoe Electric Inc / US | Stock-Other | 0.61% | -0.86% | -42.05% | |
| 22 | B | Barrick Mining CORP | Stock-Materials | 0.30% | -1.30% | -75.99% | |
| 23 | NEM | Newmont CORP | Stock-Materials | 0.29% | +0.28% | +6513.40% | |
| 24 | KEP | Korea Elec Power Corp-sp Adr | Stock-Other | 0.15% | -0.06% | — | |
| 25 | IRS | Irsa -sp Adr | Stock-Other | 0.08% | -0.02% | -0.00% | |
| 26 | PLG | Platinum Group Metals LTD | Stock-Other | 0.03% | -0.01% | +13.50% | |
| 27 | AZO | Autozone Inc | Stock-Consumer Disc | 0.02% | — | — | |
| 28 | AMGN | Amgen Inc | Stock-Healthcare | — | -0.01% | — | |
| 29 | AAPL | Apple Inc | Stock-Tech | — | -0.01% | — | |
| 30 | ABBV | Abbvie Inc | Stock-Healthcare | — | -0.01% | — |
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Portfolio Performance
Performance for Q3 2026
+4.3%
Performance Last 4 Quarters
+52.7%
Based on 84% of reported portfolio value with available pricing
- Stdev
- +20.7%
- Beta
- +0.39
- Alpha
- +30.3%
- Max Drawdown
- -9.9%
- Annualized Perf
- +42.8%
- Batting Avg vs S&P
- +61.1%
- Sortino
- +4.63
- Stutzer
- +0.55
- Treynor
- +0.97
- Sterling
- +2.46
- Calmar
- +4.31
- Information Ratio
- +0.84
- Tracking Error
- +21.5%
- Stdev Down
- +8.2%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +105.3%
- Worst 12 Months
- +24.6%
- Efficiency Ratio
- +1
- Sharpe
- +1.85
- Stdev Sectors
- +11.9%
- Skewness
- +0.08
- Kurtosis
- -0.82
- Upside Potential
- +6.19
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 30 | $1.6B | 68 | ||
| 2026 Q1 | 31 | $1.4B | 29 | ||
| 2025 Q4 | 27 | $1.3B | 36 | ||
| 2025 Q3 | 28 | $1.2B | 80 | ||
| 2025 Q2 | 28 | $910.8M | 0 | ||
| 2025 Q1 | 31 | $964.8M | 100 | ||
| 2024 Q4 | 34 | $935.4M | 0 | ||
| 2024 Q3 | 31 | $999.9M | 0 | ||
| 2024 Q2 | 30 | $887.5M | 0 | ||
| 2024 Q1 | 29 | $953.4M | 0 | ||
| 2023 Q4 | 34 | $965.6M | 0 | ||
| 2023 Q3 | 34 | $861.4M | 0 | ||
| 2023 Q2 | 30 | $976.4M | 0 | ||
| 2023 Q1 | 33 | $961.2M | 0 | ||
| 2022 Q4 | 37 | $990.8M | 0 | ||
| 2022 Q3 | 36 | $909.9M | 0 | ||
| 2022 Q2 | 33 | $865.9M | 0 | ||
| 2022 Q1 | 30 | $1.0B | 0 | ||
| 2021 Q4 | 32 | $1.0B | 0 | ||
| 2021 Q3 | 25 | $891.0M | 0 | ||
| 2021 Q2 | 21 | $954.0M | 100 | ||
| 2021 Q1 | 22 | $888.5M | 27 | ||
| 2020 Q4 | 25 | $724.5M | 56 | ||
| 2020 Q3 | 26 | $644.8M | 23 | ||
| 2020 Q2 | 24 | $556.8M | 41 | ||
| 2020 Q1 | 27 | $469.5M | 44 | ||
| 2019 Q4 | 28 | $557.6M | 23 | ||
| 2019 Q3 | 32 | $525.9M | 29 | ||
| 2019 Q2 | 29 | $586.1M | 15 | ||
| 2019 Q1 | 30 | $572.9M | 31 | ||
| 2018 Q4 | 32 | $533.4M | 23 | ||
| 2018 Q3 | 32 | $535.4M | 32 | ||
| 2018 Q2 | 32 | $678.0M | 20 | ||
| 2018 Q1 | 31 | $642.0M | 34 | ||
| 2017 Q4 | 25 | $538.6M | 35 | ||
| 2017 Q3 | 28 | $514.2M | 25 | ||
| 2017 Q2 | 27 | $475.8M | 34 | ||
| 2017 Q1 | 23 | $441.3M | 19 | ||
| 2016 Q4 | 25 | $489.4M | 24 | ||
| 2016 Q3 | 21 | $467.1M | 30 | ||
| 2016 Q2 | 24 | $565.1M | 26 | ||
| 2016 Q1 | 31 | $538.8M | 27 | ||
| 2015 Q4 | 32 | $465.5M | 35 | ||
| 2015 Q3 | 30 | $478.0M | 31 | ||
| 2015 Q2 | 23 | $504.2M | 35 | ||
| 2015 Q1 | 21 | $399.2M | 42 | ||
| 2014 Q4 | 23 | $294.7M | 32 | ||
| 2014 Q3 | 21 | $365.0M | 33 | ||
| 2014 Q2 | 18 | $281.3M | 49 | ||
| 2014 Q1 | 18 | $182.0M | 100 | ||
| 2013 Q4 | 25 | $62.2M | — |
Holding changes this quarter
Kopernik Global Investors, LLC's most significant position changes for 2026-06-30: Sold out: Seabridge Gold Inc (SEA1EUR); New buy: ; Sold out: Molina Healthcare Inc (MOH); New buy: Epam Systems Inc (EPAM); New buy: Mosaic Co/the (MOS).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ✓ | +11.9% | NEW | New buy | |
| 2 | EXE | Expand Energy CORP | +3.4% | +111.83% | Add |
| 3 | WY | Weyerhaeuser Co | +2.3% | +97.34% | Add |
| 4 | EPAM | Epam Systems Inc | +2% | NEW | New buy |
| 5 | RRC | Range Resources CORP | +1.8% | +57.00% | Add |
| 6 | KT | Kt Corp-sp Adr | +1.6% | +69.94% | Add |
| 7 | MOS | Mosaic Co/the | +1.5% | NEW | New buy |
| 8 | CNXC | Concentrix CORP | +1.3% | +95.15% | Add |
| 9 | NICE | Nice LTD - Spon Adr | +1.2% | +124.35% | Add |
| 10 | RYN | Rayonier Inc | +1.1% | +49.49% | Add |
| 11 | RGLD | Royal Gold Inc | +1.1% | +149.52% | Add |
| 12 | NTR | Nutrien LTD | +0.9% | +53.49% | Add |
| 13 | CMCSA | Comcast Corp-class A | +0.6% | +96.88% | Add |
| 14 | NAK | Northern Dynasty Minerals | +0.6% | -1.46% | Trim |
| 15 | NEM | Newmont CORP | +0.3% | +6513.40% | Add |
| 16 | AZO | Autozone Inc | — | — | Unchanged |
| 17 | PLG | Platinum Group Metals LTD | 0% | +13.50% | Add |
| 18 | AAPL | Apple Inc | 0% | — | Unchanged |
| 19 | ABBV | Abbvie Inc | 0% | — | Unchanged |
| 20 | AMGN | Amgen Inc | 0% | — | Unchanged |
| 21 | IRS | Irsa -sp Adr | 0% | -0.00% | Trim |
| 22 | KEP | Korea Elec Power Corp-sp Adr | -0.1% | — | Unchanged |
| 23 | VGZ | Vista Gold CORP | -0.3% | +1.42% | Add |
| 24 | THM | Intl Tower Hill Mines LTD | -0.5% | +6.33% | Add |
| 25 | CRESY | Cresud S.a.-spons Adr | -0.7% | +7.97% | Add |
| 26 | IE | Ivanhoe Electric Inc / US | -0.9% | -42.05% | Trim |
| 27 | AL | Air Lease CORP | -1.3% | EXIT | Sold out |
| 28 | B | Barrick Mining CORP | -1.3% | -75.99% | Trim |
| 29 | HUM | Humana Inc | -1.4% | EXIT | Sold out |
| 30 | NG | Novagold Resources Inc | -1.6% | +5.93% | Add |
| 31 | MOH | Molina Healthcare Inc | -2.7% | EXIT | Sold out |
| 32 | BEN | Franklin Resources Inc | -3.1% | -62.51% | Trim |
| 33 | CNC | Centene CORP | -3.2% | -74.31% | Trim |
| 34 | SEA1EUR | Seabridge Gold Inc | -14.5% | EXIT | Sold out |
Filing History
FAQ
What is Kopernik Global Investors, LLC and what type of investor is it?
Kopernik Global Investors, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $1.6B, spread across 30 disclosed positions.
What are Kopernik Global Investors, LLC's largest equity positions?
Based on the latest 13F filing, Kopernik Global Investors, LLC's top holdings by market value are:
1. Range Resources CORP (RRC) — $244.6M (15.0%)
2. — $194.5M (11.9%)
3. Expand Energy CORP (EXE) — $157.2M (9.6%)
4. Kt Corp-sp Adr (KT) — $156.3M (9.6%)
5. Nutrien LTD (NTR) — $137.6M (8.4%)
What changes did Kopernik Global Investors, LLC make in its most recent portfolio filing?
In the latest reported quarter, Kopernik Global Investors, LLC made 29 notable position adjustments: 3 new positions were initiated, 16 existing holdings were added to, 6 positions were partially reduced, and 4 were completely exited. The largest of these moves: Sold out: Seabridge Gold Inc (SEA1EUR); New buy: ; Sold out: Molina Healthcare Inc (MOH); New buy: Epam Systems Inc (EPAM); New buy: Mosaic Co/the (MOS)
What sectors does Kopernik Global Investors, LLC focus on?
Kopernik Global Investors, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Energy: 38.4%
• Materials: 20.4%
• Real Estate: 15.2%
• Information Technology: 14.7%
• Financials: 4.2%
• Health Care: 4.0%
Investment Profile
Kopernik Global Investors, LLC returned an annualized 42.8% over the trailing 36 months — outperforming the S&P 500 by 30.3 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.39 (less volatile than the market) and a 61% quarterly batting average against the index.
Its portfolio is broadly diversified and fast-trading, with 38.4% of the portfolio concentrated in Energy.
Its turnover score has risen from 0 to 68 over the past 4 quarters — a shift toward more active trading.
It has added to its EXE position over the past two quarters (+$81.9M, now $157.2M), while trimming CNC over the same stretch (-$41.8M, still holding $41.5M).
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View detail
HC
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AC
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Developer Access
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REST API
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