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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Aug 25, 2025 | Kopernik Global All-Cap Fund | 18.3% | 35.3% | 000240.KS, 003550.KS, 003690.KS, 015760.KS, 030200.KS, 032640.KS, 069960.KS, 1082.KL, 1508.HK, 1662.T, 375500.KS, AMS.L, ARIS.TO, BAS.DE, BIDU, BORR, DRR.AX, EB5.SI, EQX.TO, GLEN.L, Gold, IE, IMP.L, IVN.TO, JUP.L, KAP.L, LUN.TO, MEG.TO, MHPC.L, NAK, NEM, NG.TO, NXE.TO, ORBIA.MX, PBR, PDN.AX, SA.TO, SDF.DE, SQM, SSW.L, U.TO, YCA.L | commodities, diversification, global, materials, Mining, South Korea, value | PGM producers had a strong quarter with platinum prices rising over 35%. Impala and Valterra are the largest PGM producers globally, together accounting for 47% of global production. The fund took advantage of volatility by trimming and adding to positions opportunistically. | View | |
| 2025 Q1 | Apr 29, 2025 | Kopernik Global All-Cap Fund | 14.4% | 14.4% | 0001.HK, 015760.KS, 030200.KS, 032640.KS, 069960.KS, 375500.KS, AMS.L, ARIS.TO, BIDU, EB5.SI, ELET6.SA, EQX.TO, GAZP.ME, Gold, IMP.L, NAK, NEM, PLZL.ME, RGLD, SBER.ME, SDF.DE, WPM | commodities, diversification, emerging markets, global, Mining, Precious Metals, value | Gold price rose 18% during the quarter with major gold producers performing strongly. Newmont and Barrick, the world's two largest gold producing companies, had total returns of 31.4% and 26.0% respectively. Canadian gold miners Equinox and Aris also contributed positively with strong returns. | View | |
| 2024 Q1 | Apr 15, 2024 | AMG Yacktman Focused Fund | 7.6% | 7.6% | 005930.KS, 030200.KS, CNQ, CTSH, GOOGL, MSFT, PEP, PG, SCHW, UHAL | Consumer Staples, energy, global, large cap, technology, value | The energy sector had a strong first quarter with portfolio energy companies performing well. The thesis is based on a medium-term supply/demand imbalance and the shift to returning capital to shareholders. CNQ represents the first energy investment in over a decade, followed by domestic exploration and production companies added in mid-2022. | BOL.PA K CNQ.TO |
View |
| 2024 Q4 | Dec 31, 2024 | Kopernik Global All-Cap Fund | -7.6% | -0.5% | 011170.KS, 015760.KS, 030200.KS, 032640.KS, ANGPY, ARIS.TO, CA.PA, CEPU.BA, E5H.SI, EAPI.PA, ELET6.SA, EQX.TO, EXE, Gold, IMPUY, KBANK.BK, NEM, RRC, SDF.DE | contrarian, emerging markets, global, materials, Mining, value, volatility | Gold hit all-time highs in October before pulling back and finishing the quarter roughly flat. Major gold producers like Newmont and Barrick experienced higher than expected costs and lower than expected production despite the gold price increases. The fund trimmed and added to gold positions based on price movements. | View | |
| 2025 Q3 | Nov 17, 2025 | Kopernik Global All-Cap Fund | 12.5% | 52.2% | 003550.KS, 015760.KS, 030200.KS, 032640.KS, 1.HK, BIDU, CEN, GLEN.L, Gold, IMPUY, ITH, IVN.TO, NEM, NG, SA, SBSW, SLB, SQM, VALE, WRN | commodities, diversification, global, gold, materials, Mining, Platinum, value | Gold producers had another strong quarter with significant appreciation across holdings. The fund trimmed gold positions substantially from roughly 20% to around 8% of the portfolio as prices rose. Non-producing gold companies also performed well as the market began recognizing the optionality value of gold reserves. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| No pitches found. | |||||||||
| Manager Name | Fund Name | Fund AUM | Invested Value | Portfolio Weight | Shares Owned | Shares Bought / Sold During Quarter | % Bought / Sold During Quarter | % of Shares Outstanding Owned |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||