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Goehring & Rozencwajg Associates, LLC

· CIK 0001863154
13F Portfolio $1.9B AUM 43 positions Filed May 5, 2026 EDGAR ↗ ← All Funds
Q1 2026 Q4 2025
# Ticker Company Sector Shares Value % Port Chg Shares Chg % Period Price ① Since Period ①
1 CM CANADIAN NAT RES LTD MED TER Financial Services 2,827,853.0 $137.9M 7.41% +925K +48.6% $48.76 +128.3%
2 VALARIS LTD 1,319,351.0 $129.3M 6.95% +257K +24.2% $98.04
3 RRC RANGE RES CORP Energy 2,721,749.0 $123.0M 6.61% +719K +35.9% $45.18 -8.2%
4 SU SUNCOR ENERGY INC NEW Energy 1,840,155.0 $121.7M 6.54% +1.1M +153.0% $66.12 +1.0%
5 SLB SLB LIMITED Energy 2,298,550.0 $118.1M 6.35% +1.4M +145.3% $51.39 +8.5%
6 SDRL SEADRILL LTD Energy 2,449,565.0 $111.5M 5.99% +530K +27.6% $45.50 +12.9%
7 BBDO CAMECO CORP Financial Services 836,431.0 $90.8M 4.88% +153K +22.5% $108.61 -97.1%
8 NE NOBLE CORP PLC Energy 1,841,206.0 $90.3M 4.86% +415K +29.1% $49.07 +7.0%
9 CNR CORE NATURAL RESOURCES INC Energy 708,225.0 $74.2M 3.99% +406K +133.9% $104.73 -19.7%
10 EQT EQT CORP Energy 1,159,203.0 $73.8M 3.96% +313K +37.1% $63.64 -11.1%
11 AR ANTERO RESOURCES CORP Energy 1,617,138.0 $68.6M 3.69% +434K +36.6% $42.44 -9.9%
12 NTR NUTRIEN LTD Basic Materials 822,291.0 $62.1M 3.33% $75.46 -6.0%
13 HCC WARRIOR MET COAL INC Energy 598,113.0 $55.7M 2.99% NEW $93.15 -7.8%
14 SBSW SIBANYE STILLWATER LTD Basic Materials 4,270,069.0 $52.6M 2.83% +730K +20.6% $12.32 +6.8%
15 AMR ALPHA METALLURGICAL RESOUR I Energy 242,039.0 $49.7M 2.67% +163K +206.8% $205.27 -12.5%
16 CHRD CHORD ENERGY CORPORATION Energy 283,461.0 $40.3M 2.17% NEW $142.18 +4.4%
17 PBT PERMIAN RESOURCES CORP Energy 1,814,700.0 $38.7M 2.08% +1.4M +303.9% $21.32 +28.1%
18 LEU CENTRUS ENERGY CORP Energy 202,058.0 $35.1M 1.89% +31K +18.1% $173.59 +10.8%
19 AGI ALAMOS GOLD INC Basic Materials 686,587.0 $30.5M 1.64% -94K -12.1% $44.43 -9.5%
20 UEC URANIUM ENERGY CORP Energy 2,201,921.0 $29.7M 1.60% +381K +20.9% $13.50 +9.7%
21 MTDR MATADOR RES CO Energy 457,894.0 $28.9M 1.55% +114K +33.1% $63.18 -8.3%
22 UUUU ENERGY FUELS INC Energy 1,484,902.0 $27.1M 1.46% +255K +20.8% $18.25 +6.8%
23 OII OCEANEERING INTL INC Energy 713,586.0 $25.3M 1.36% +145K +25.5% $35.47 +9.2%
24 IE IVANHOE ELECTRIC INC Technology 2,115,009.0 $25.0M 1.34% +327K +18.3% $11.82 +16.8%
25 EXE EXPAND ENERGY CORPORATION Energy 225,860.0 $24.8M 1.33% +60K +36.6% $109.78 -11.9%
26 MOS MOSAIC CO Basic Materials 922,305.0 $23.5M 1.26% +471K +104.5% $25.50 -11.1%
27 FANG DIAMONDBACK ENERGY INC Energy 113,489.0 $22.4M 1.21% +28K +33.1% $197.79 +1.2%
28 NXE NEXGEN ENERGY LTD Energy 1,810,943.0 $21.0M 1.13% +292K +19.2% $11.60 +3.2%
29 EQX EQUINOX GOLD CORP Basic Materials 1,283,253.0 $18.5M 0.99% -182K -12.4% $14.44 -0.5%
30 CHCI COMSTOCK RES INC Real Estate 861,858.0 $18.2M 0.98% +223K +34.8% $21.08 -22.7%
31 DNN DENISON MINES CORP Energy 4,720,615.0 $16.7M 0.90% +768K +19.4% $3.53 -1.1%
32 SM SM ENERGY COMPANY Energy 487,730.0 $15.2M 0.82% NEW $31.18 +0.6%
33 BORR BORR DRILLING LTD Energy 2,119,465.0 $12.2M 0.66% +496K +30.6% $5.77 +8.5%
34 IPI INTREPID POTASH INC Basic Materials 267,097.0 $11.4M 0.61% +48K +21.8% $42.77 -0.3%
35 FCX FREEPORT MCMORAN INC Basic Materials 123,252.0 $7.2M 0.39% -114K -48.1% $58.78 +12.5%
36 URG UR-ENERGY INC Energy 4,253,094.0 $6.3M 0.34% +785K +22.6% $1.49 +22.8%
37 TMQ TRILOGY METALS INC NEW Basic Materials 1,728,153.0 $6.2M 0.33% +320K +22.7% $3.60 +23.3%
38 NG NOVAGOLD RESOURCES INC Basic Materials 692,741.0 $6.2M 0.33% -107K -13.4% $8.98 -1.0%
39 CMCL CALEDONIA MNG CORP Basic Materials 153,264.0 $3.5M 0.19% -12K -7.3% $22.59 +2.0%
40 EU ENCORE ENERGY CORP Energy 1,464,724.0 $2.6M 0.14% +237K +19.4% $1.80 -10.0%
41 ORLA MNG LTD NEW 161,584.0 $2.6M 0.14% -616K -79.2% $16.08
42 TFPM TRIPLE FLAG PRECIOUS METAL Basic Materials 60,271.0 $2.1M 0.11% -8K -11.4% $34.71 -1.4%
43 TDW TIDEWATER INC NEW Energy 3,914.0 $327K 0.02% NEW $83.55 -2.2%

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Energy 71.3%
Financial Services 13.2%
Basic Materials 12.9%
Technology 1.4%
Real Estate 1.1%