13F COMBINATION REPORT
Kopernik Global Investors, LLC
Quarter ended Q4 2025 · Filed February 13, 2026 · Accession 0001599814-26-000002
Total Value
$1.25B
Positions
27
Other Managers
0
Confidential Omitted
No
Holdings (27)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | SEABRIDGE GOLD INC | SA | 6,979,611 | $206.5M | 16.49% |
| 2 | RANGE RES CORP | RRC | 5,238,903 | $184.7M | 14.75% |
| 3 | KT CORP | KT | 5,768,752 | $109.4M | 8.74% |
| 4 | NUTRIEN LTD | NTR | 1,753,659 | $108.2M | 8.64% |
| 5 | CENTENE CORP DEL | CNC | 2,025,052 | $83.3M | 6.66% |
| 6 | FRANKLIN RESOURCES INC | BEN | 3,369,165 | $80.5M | 6.43% |
| 7 | NOVAGOLD RES INC | 66987E206 | 8,429,379 | $78.6M | 6.27% |
| 8 | EXPAND ENERGY CORPORATION | EXE | 681,579 | $75.2M | 6.01% |
| 9 | CRESUD S A C I F Y A | CRESY | 4,246,881 | $53.6M | 4.28% |
| 10 | SLB LIMITED | SLB | 1,306,620 | $50.1M | 4.01% |
| 11 | ROYAL GOLD INC | RGLD | 209,678 | $46.6M | 3.72% |
| 12 | NORTHERN DYNASTY MINERALS LT | 66510M204 | 21,661,178 | $42.7M | 3.41% |
| 13 | INTERNATIONAL TOWER HILL MIN | 46050R102 | 14,448,418 | $26.9M | 2.15% |
| 14 | BARRICK MNG CORP | 06849F108 | 590,051 | $25.7M | 2.05% |
| 15 | MOLINA HEALTHCARE INC | MOH | 125,534 | $21.8M | 1.74% |
| 16 | COMCAST CORP NEW | CCZ | 649,213 | $19.4M | 1.55% |
| 17 | AIR LEASE CORP | AIIR | 285,013 | $18.3M | 1.46% |
| 18 | IVANHOE ELECTRIC INC | IE | 428,752 | $6.9M | 0.55% |
| 19 | VISTA GOLD CORP | VGZ | 2,466,589 | $4.9M | 0.39% |
| 20 | KOREA ELEC PWR CORP | 500631106 | 268,151 | $4.4M | 0.35% |
| 21 | NEWMONT CORP | NEMCL | 23,201 | $2.3M | 0.19% |
| 22 | IRSA INVERSIONES Y REP S A | 450047303 | 85,366 | $1.4M | 0.11% |
| 23 | AUTOZONE INC | AZO | 400 | $213,600 | 0.02% |
| 24 | PAYCHEX INC | PAYX | 5,600 | $179,200 | 0.01% |
| 25 | ABBVIE INC | ABBV | 4,600 | $84,180 | 0.01% |
| 26 | APPLE INC | AAPL | 5,000 | $77,000 | 0.01% |
| 27 | AMGEN INC | AMGN | 3,100 | $465 | 0.00% |