Kopernik Global Investors, LLC In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Kopernik Global Investors, LLC reported 22 stock positions worth $887.2 million . Its top holding was KT Corp.-SP ADR (KT) at 14.4% of the portfolio, followed by Southwestern Energy (SWN, 13.9% ) and Barrick Gold (B, 9.9% ). Compared with Q1 2024, it opened 2 new positions, sold out of 2, added to 4 and reduced 11. The biggest buy was Barrick Gold (B, shares +75% ) and the biggest sale Newmont (NEM, shares −73% ).
Location TAMPA, FL
CIK 0001599814
Portfolio Value $887.2M (Q2 2024) Holdings 22 stocks · $887.2M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2024 KT KT Corp.-SP ADR 9,319,404 $127.4M Add +10.8% SWN Southwestern Energy Co. 18,294,597 $123.1M Reduce -0.4% B Barrick Gold Corp. 5,263,236 $87.8M Add +74.8% WPM Wheaton Precious Metals Corp. 1,576,018 $82.6M Reduce -34.2% RGLD Royal Gold Inc. 648,666 $81.2M Reduce -3.4% RRC Range Resources Corp. 2,276,052 $76.3M Reduce -22.5% NG Novagold Resources Inc. 16,985,894 $58.8M Add +22.2% SA Seabridge Gold Inc. 3,254,808 $44.6M No change ALTM Arcadium Lithium PLC 8,427,453 $28.3M New HMY Harmony Gold MNG-Spon ADR 2,933,890 $26.9M Reduce -48.1% NEM Newmont Corp. 630,413 $26.4M Reduce -73.3% PPTA Perpetua Resources Corp. 5,062,707 $26.3M Reduce -3.6% SQM Quimica Y Minera Chil-SP ADR filed as SOCIEDAD QUIMICA Y MINERA DE 640,997 $26.1M New BABA Alibaba Group Holding-SP ADR 338,147 $24.3M Reduce -5.5% SAND Sandstorm Gold Ltd. 1,984,811 $10.8M Reduce -18.0% KEP Korea Elec Power Corp.-SP ADR 1,484,093 $10.5M No change NAK Northern Dynasty Minerals 32,070,691 $10.0M No change THM Intl Tower Hill Mines Ltd. filed as INTERNATIONAL TOWER HILL MIN 13,949,307 $6.9M Reduce -0.1% CRESY Cresud S.A.-Spons ADR 778,894 $6.4M No change VGZ Vista Gold Corp. 3,942,622 $1.8M Add +12.7% IE Ivanhoe Electric Inc. / US 39,317 $369K Reduce -25.4% IRS Irsa -SP ADR filed as IRSA INVERSIONES Y REP S A 28,990 $260K No change
Options reported separately and not counted above: SLV calls ($110K), NVDA puts ($53K), CMG puts ($46K), AMGN puts ($44K), LLY puts ($28K), PAYX puts ($21K), ABBV puts ($19K), NVO puts ($2K).
Portfolio Sells Q1 2024 → Q2 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2024 % Of Portfolio Change To Portfolio ▲ NEM Newmont Corp. Reduce -73.3% 2.98% −5.89 WPM Wheaton Precious Metals Corp. Reduce -34.2% 9.31% −2.54 RRC Range Resources Corp. Reduce -22.5% 8.60% −2.01 HMY Harmony Gold MNG-Spon ADR Reduce -48.1% 3.03% −1.82 AL Sumisho Air Lease Corp. Sold out 0.00% −1.45 SKYW Skywest Inc. Sold out 0.00% −1.26 SWN Southwestern Energy Co. Reduce -0.4% 13.88% −0.73 THM Intl Tower Hill Mines Ltd. Reduce -0.1% 0.78% −0.23 SAND Sandstorm Gold Ltd. Reduce -18.0% 1.22% −0.12 IE Ivanhoe Electric Inc. / US Reduce -25.4% 0.04% −0.01 BABA Alibaba Group Holding-SP ADR Reduce -5.5% 2.74% +0.03 RGLD Royal Gold Inc. Reduce -3.4% 9.15% +0.56 PPTA Perpetua Resources Corp. Reduce -3.6% 2.97% +0.68
Portfolio Buys Q1 2024 → Q2 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2024 % Of Portfolio Change To Portfolio ▼ B Barrick Gold Corp. Add +74.8% 9.90% +4.64 ALTM Arcadium Lithium PLC New 3.19% +3.19 SQM Quimica Y Minera Chil-SP ADR New 2.94% +2.94 NG Novagold Resources Inc. Add +22.2% 6.62% +2.25 KT KT Corp.-SP ADR Add +10.8% 14.36% +1.99 VGZ Vista Gold Corp. Add +12.7% 0.21% −0.00
Options Activity Q1 2024 → Q2 2024 Security Type Change vs Q1 2024 Underlying Shares Value ▼ SLV iShares Silver Trust call Reduce -84.0% 33,700 $110K CMG Chipotle Mexican Grill Inc. put New 10,000 $46K NVO Novo-Nordisk A/S-Spons ADR put Reduce -39.7% 9,400 $2K
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 26 $1.6B RRC, SA, EXE, KT, NTR Q1 2026 27 $1.4B SA, RRC, KT, NTR, EXE Q4 2025 22 $1.3B SA, RRC, KT, NTR, CNC Q3 2025 22 $1.2B SA, RRC, NG, B, KT Q2 2025 22 $910.0M RRC, SA, B, KT, NG Q1 2025 24 $964.4M RRC, KT, B, EXE, SA Q4 2024 26 $935.1M KT, RRC, EXE, B, RGLD Q3 2024 24 $999.6M KT, SWN, RRC, B, RGLD Q2 2024 22 $887.2M KT, SWN, B, WPM, RGLD Q1 2024 22 $952.9M SWN, KT, WPM, RRC, NEM