Ranked by reported Q1 2026 13F market value
Share of total reported institutional value in NAK held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | Kopernik Global Investors, LLC | 32.7M | $45.7M | +50.8% | 5.828% | 3.19% |
| 2 | MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 24.3M | $33.8M | +41.6% | 4.337% | 0.05% |
| 3 |
Filings activity in NAK during Q1 2026, grouped by how each filer changed its position.
8 quarters of 13F filings · Δ columns show change vs prior quarter
| Quarter | Inst. Holders | Δ Holders | Ownership % | Δ Ownership | Total 13F Value | Δ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 189 | +15% | 13.82% | 4.57 pp | $158M | 25% |
| Q4 2025 | 164 | +7.2% | 18.39% | +9.82 pp | $210M | +114% |
| Q3 2025 | 153 | +0.7% | 8.57% | +1.13 pp | $98M | +15% |
| Q2 2025 | 152 | +11% | 7.44% | +2.46 pp | $85M | +49% |
| Q1 2025 | 137 | +25% | 4.98% | +1.86 pp | $57M | +60% |
| Q4 2024 | 110 | +11% |
Quick answers to the most common questions about buying NAK stock.
Based on Q1 2026 13F filings, institutional ownership of Northern Dynasty Minerals Ltd. stands at 13.8%, held across 189 reporting institutions.
Kopernik Global Investors, LLC is the largest reported institutional holder of NAK, with approximately 32,655,846 shares worth $0.05B as of Q1 2026.
Yes — 5 widely-followed marquee investors appear among the top 25 institutional holders of NAK, including TWO SIGMA INVESTMENTS, LP, MILLENNIUM MANAGEMENT LLC, SUSQUEHANNA INTERNATIONAL GROUP, LLP, RENAISSANCE TECHNOLOGIES LLC, CITADEL ADVISORS LLC.
Our composite Smart Money Score for NAK is 66 out of 100 (Bullish). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
| 9.8M |
| $13.7M |
| +54.9% |
| 1.746% |
| 0.01% |
| 4 | MILLENNIUM MANAGEMENT LLC | 5.4M | $7.6M | -59.4% | 0.968% | 0.01% |
| 5 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 4.7M | $6.5M | -45.9% | 0.832% | 0.00% |
| 6 | RENAISSANCE TECHNOLOGIES LLC | 4.5M | $6.2M | — | 0.796% | 0.01% |
| 7 | CITADEL ADVISORS LLC | 3.7M | $5.2M | — | 0.668% | 0.00% |
| 8 | Russell Investments Group, Ltd. | 3.3M | $4.6M | -6.1% | 0.584% | 0.00% |
| 9 | COMMONWEALTH EQUITY SERVICES, LLC | 2.6M | $3.6M | +23.5% | 0.463% | 0.01% |
| 10 | Stenahm Asset Managment Ltd | 2.0M | $2.9M | — | 0.365% | 1.39% |
| 11 | SEI INVESTMENTS CO | 1.6M | $2.2M | -15.1% | 0.278% | 0.00% |
| 12 | UBS Group AG | 1.5M | $2.1M | +66.0% | 0.267% | 0.00% |
| 13 | Marex Group plc | 1.8M | $2.0M | — | 0.315% | 0.01% |
| 14 | MACKENZIE FINANCIAL CORP | 1.2M | $1.7M | +1.7% | 0.221% | 0.00% |
| 15 | Swiss National Bank | 1.1M | $1.5M | — | 0.196% | 0.00% |
| 16 | Bornite Capital Management LP | 1.0M | $1.4M | -81.4% | 0.178% | 0.24% |
| 17 | BANK OF MONTREAL /CAN/ | 898K | $1.3M | +545.3% | 0.160% | 0.00% |
| 18 | TD ASSET MANAGEMENT INC | 833K | $1.2M | +11.4% | 0.149% | 0.00% |
| 19 | IMC-Chicago, LLC | 712K | $997K | +46.8% | 0.127% | 0.02% |
| 20 | Legal & General Group Plc | 472K | $656K | — | 0.084% | 0.00% |
| 21 | Ionic Capital Management LLC | 459K | $643K | +48.5% | 0.082% | 0.61% |
| 22 | STATE STREET CORP | 423K | $592K | +175.7% | 0.075% | 0.00% |
| 23 | GROUP ONE TRADING, L.P. | 422K | $591K | -38.9% | 0.075% | 0.02% |
| 24 | NATIONS FINANCIAL GROUP INC, /IA/ /ADV | 421K | $590K | +0.7% | 0.075% | 0.03% |
| 25 | Nuveen, LLC | 403K | $560K | — | 0.072% | 0.00% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in NAK — a direct measure of their conviction.
| 3.12% |
| +1.42 pp |
| $36M |
| +83% |
| Q3 2024 | 99 | +8.8% | 1.70% | 0.29 pp | $19M | 15% |
| Q2 2024 | 91 | — | 1.99% | — | $23M | — |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.
54 institutions opened new positions in NAK during Q1 2026, while 29 fully exited. 25 added to existing positions and 109 trimmed.
NAK institutional ownership fell by 4.57 percentage points quarter-over-quarter, with a net change of +25 holders.
The top 10 institutions account for 82.2% of all reported 13F value in NAK, and the top 25 account for 93.6%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
Northern Dynasty Minerals Ltd. (NAK) Institutional Ownership