Goehring & Rozencwajg Associates, LLC — 13F Holdings & Portfolio
CIK 1863154 · latest 13F-HR filed 2026-05-05
Goehring & Rozencwajg Associates, LLC manages $1.86B in 13F-reported U.S. long-equity assets across 43 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are CNQ (7.41%), VAL (6.95%), RRC (6.61%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 4 new positions, exited 4, added to 27, and trimmed 9.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$1.86B
Long-equity book
43
Distinct positions
2026-03-31
Filed 2026-05-05
+4 / −4 / ↑27 / ↓9
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- SUNCOR ENERGY INC NEW$121.7M +12166762100.0%
- SLB LIMITED$82.2M +228.5%
- VALARIS LTD$75.8M +141.6%
- CANADIAN NAT RES LTD MED TER$73.4M +113.9%
- RANGE RES CORP$52.3M +74.1%
Top Trims
- ORLA MNG LTD NEW-$7.9M -75.2%
- CENTRUS ENERGY CORP-$6.5M -15.6%
- FREEPORT MCMORAN INC-$4.8M -40.0%
- IVANHOE ELECTRIC INC-$3.6M -12.5%
- EQUINOX GOLD CORP-$2.1M -10.0%
New Positions
- WARRIOR MET COAL INC$55.7M
- CHORD ENERGY CORPORATION$40.3M
- SM ENERGY COMPANY$15.2M
- TIDEWATER INC NEW$327.0K
Exited Positions
- HUDBAY MINERALS INC$16.4M
- SKEENA RES LTD NEW$13.4M
- PAN AMERN SILVER CORP$9.1M
- CIVITAS RESOURCES INC$7.0M
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | CANADIAN NAT RES LTD MED TER | CNQ | 136385101 | $137.9M | 7.41% | 2,827,853 | SH |
| 2 | VALARIS LTD | VAL | G9460G101 | $129.3M | 6.95% | 1,319,351 | SH |
| 3 | RANGE RES CORP | RRC | 75281A109 | $123.0M | 6.61% | 2,721,749 | SH |
| 4 | SUNCOR ENERGY INC NEW | SU | 867224107 | $121.7M | 6.54% | 1,840,155 | SH |
| 5 | SLB LIMITED | SLB | 806857108 | $118.1M | 6.35% | 2,298,550 | SH |
| 6 | SEADRILL LTD | SDRL | G7997W102 | $111.5M | 5.99% | 2,449,565 | SH |
| 7 | CAMECO CORP | CCJ | 13321L108 | $90.8M | 4.88% | 836,431 | SH |
| 8 | NOBLE CORP PLC | NE | G65431127 | $90.3M | 4.85% | 1,841,206 | SH |
| 9 | CORE NATURAL RESOURCES INC | CNR | 218937100 | $74.2M | 3.99% | 708,225 | SH |
| 10 | EQT CORP | EQT | 26884L109 | $73.8M | 3.96% | 1,159,203 | SH |
| 11 | ANTERO RESOURCES CORP | AR | 03674X106 | $68.6M | 3.69% | 1,617,138 | SH |
| 12 | NUTRIEN LTD | NTR | 67077M108 | $62.1M | 3.33% | 822,291 | SH |
| 13 | WARRIOR MET COAL INC | HCC | 93627C101 | $55.7M | 2.99% | 598,113 | SH |
| 14 | SIBANYE STILLWATER LTD | SBSW | 82575P107 | $52.6M | 2.83% | 4,270,069 | SH |
| 15 | ALPHA METALLURGICAL RESOUR I | AMR | 020764106 | $49.7M | 2.67% | 242,039 | SH |
| 16 | CHORD ENERGY CORPORATION | CHRD | 674215207 | $40.3M | 2.17% | 283,461 | SH |
| 17 | PERMIAN RESOURCES CORP | PR | 71424F105 | $38.7M | 2.08% | 1,814,700 | SH |
| 18 | CENTRUS ENERGY CORP | LEU | 15643U104 | $35.1M | 1.88% | 202,058 | SH |
| 19 | ALAMOS GOLD INC | AGI | 011532108 | $30.5M | 1.64% | 686,587 | SH |
| 20 | URANIUM ENERGY CORP | UEC | 916896103 | $29.7M | 1.60% | 2,201,921 | SH |
| 21 | MATADOR RES CO | MTDR | 576485205 | $28.9M | 1.55% | 457,894 | SH |
| 22 | ENERGY FUELS INC | UUUU | 292671708 | $27.1M | 1.46% | 1,484,902 | SH |
| 23 | OCEANEERING INTL INC | OII | 675232102 | $25.3M | 1.36% | 713,586 | SH |
| 24 | IVANHOE ELECTRIC INC | IE | 46578C108 | $25.0M | 1.34% | 2,115,009 | SH |
| 25 | EXPAND ENERGY CORPORATION | EXE | 165167735 | $24.8M | 1.33% | 225,860 | SH |
| 26 | MOSAIC CO | MOS | 61945C103 | $23.5M | 1.26% | 922,305 | SH |
| 27 | DIAMONDBACK ENERGY INC | FANG | 25278X109 | $22.4M | 1.21% | 113,489 | SH |
| 28 | NEXGEN ENERGY LTD | NXE | 65340P106 | $21.0M | 1.13% | 1,810,943 | SH |
| 29 | EQUINOX GOLD CORP | EQX | 29446Y502 | $18.5M | 1.00% | 1,283,253 | SH |
| 30 | COMSTOCK RES INC | CRK | 205768302 | $18.2M | 0.98% | 861,858 | SH |
| 31 | DENISON MINES CORP | DNN | 248356107 | $16.7M | 0.90% | 4,720,615 | SH |
| 32 | SM ENERGY COMPANY | SM | 78454L100 | $15.2M | 0.82% | 487,730 | SH |
| 33 | BORR DRILLING LTD | BORR | G1466R173 | $12.2M | 0.66% | 2,119,465 | SH |
| 34 | INTREPID POTASH INC | IPI | 46121Y201 | $11.4M | 0.61% | 267,097 | SH |
| 35 | FREEPORT MCMORAN INC | FCX | 35671D857 | $7.2M | 0.39% | 123,252 | SH |
| 36 | UR-ENERGY INC | URG | 91688R108 | $6.3M | 0.34% | 4,253,094 | SH |
| 37 | TRILOGY METALS INC NEW | TMQ | 89621C105 | $6.2M | 0.33% | 1,728,153 | SH |
| 38 | NOVAGOLD RESOURCES INC | NG | 66987E206 | $6.2M | 0.33% | 692,741 | SH |
| 39 | CALEDONIA MNG CORP | CMCL | G1757E113 | $3.5M | 0.19% | 153,264 | SH |
| 40 | ENCORE ENERGY CORP | EU | 29259W700 | $2.6M | 0.14% | 1,464,724 | SH |
| 41 | ORLA MNG LTD NEW | ORLA | 68634K106 | $2.6M | 0.14% | 161,584 | SH |
| 42 | TRIPLE FLAG PRECIOUS METAL | TFPM | 89679M104 | $2.1M | 0.11% | 60,271 | SH |
| 43 | TIDEWATER INC NEW | TDW | 88642R109 | $327.0K | 0.02% | 3,914 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-05 | $1.86B | 43 | 0001863154-26-000003 |
| 2025-12-31 | 2026-02-13 | $1.01B | 43 | 0001863154-26-000002 |