13F COMBINATION REPORT
Kopernik Global Investors, LLC
Quarter ended Q3 2025 · Filed November 14, 2025 · Accession 0001599814-25-000011
Total Value
$1.23B
Positions
28
Other Managers
0
Confidential Omitted
No
Holdings (28)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | SEABRIDGE GOLD INC | SA | 6,946,666 | $167.8M | 13.67% |
| 2 | RANGE RES CORP | RRC | 4,420,608 | $166.4M | 13.56% |
| 3 | NOVAGOLD RES INC | 66987E206 | 13,137,577 | $115.6M | 9.42% |
| 4 | BARRICK MNG CORP | 06849F108 | 3,057,390 | $100.2M | 8.16% |
| 5 | KT CORP | KT | 4,555,448 | $88.8M | 7.24% |
| 6 | CENTENE CORP DEL | CNC | 2,256,881 | $80.5M | 6.56% |
| 7 | EXPAND ENERGY CORPORATION | EXE | 738,047 | $78.4M | 6.39% |
| 8 | NUTRIEN LTD | NTR | 1,266,600 | $74.4M | 6.06% |
| 9 | SCHLUMBERGER LTD | SLB | 1,909,788 | $65.6M | 5.35% |
| 10 | FRANKLIN RESOURCES INC | BEN | 2,735,624 | $63.3M | 5.16% |
| 11 | SOCIEDAD QUIMICA Y MINERA DE | 833635105 | 812,944 | $34.9M | 2.85% |
| 12 | CRESUD S A C I F Y A | CRESY | 3,727,790 | $34.3M | 2.79% |
| 13 | NORTHERN DYNASTY MINERALS LT | 66510M204 | 21,661,178 | $26.0M | 2.12% |
| 14 | INTERNATIONAL TOWER HILL MIN | 46050R102 | 14,448,418 | $23.7M | 1.93% |
| 15 | ROYAL GOLD INC | RGLD | 116,065 | $23.3M | 1.90% |
| 16 | SANDSTORM GOLD LTD | 80013R206 | 1,586,602 | $19.9M | 1.62% |
| 17 | AIR LEASE CORP | AIIR | 285,013 | $18.1M | 1.48% |
| 18 | IVANHOE ELECTRIC INC | IE | 1,335,985 | $16.8M | 1.37% |
| 19 | BORR DRILLING LTD | BORR | 4,983,672 | $13.4M | 1.09% |
| 20 | VISTA GOLD CORP | VGZ | 3,129,347 | $6.7M | 0.54% |
| 21 | NEWMONT CORP | NEMCL | 48,516 | $4.1M | 0.33% |
| 22 | KOREA ELEC PWR CORP | 500631106 | 268,151 | $3.5M | 0.29% |
| 23 | ISHARES SILVER TR | SLV | 141,400 | $1.3M | 0.10% |
| 24 | PAYCHEX INC | PAYX | 5,600 | $113,120 | 0.01% |
| 25 | APPLE INC | AAPL | 5,000 | $112,500 | 0.01% |
| 26 | AUTOZONE INC | AZO | 400 | $76,000 | 0.01% |
| 27 | AMGEN INC | AMGN | 3,100 | $21,390 | 0.00% |
| 28 | ABBVIE INC | ABBV | 4,200 | $4,200 | 0.00% |