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Goehring & Rozencwajg Associates, LLC — 13F Holdings & Portfolio

CIK 1863154 · latest 13F-HR filed 2026-08-05

Backtest portfolio

Goehring & Rozencwajg Associates, LLC manages $1.74B in 13F-reported U.S. long-equity assets across 41 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are CNQ (6.92%), SLB (6.56%), RRC (6.25%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 0 new positions and exited 2; 6 existing positions rose in reported value and 31 fell.

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.

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AUM
$1.74B

Long-equity book

Holdings
41

Distinct positions

Period
2026-06-30

Filed 2026-08-05

Q/Q Activity
+0 / −2 / ↑6 / ↓31

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
CNQ6.9% · +8%SLB6.6% · +7%RRC6.2% · +7%SU6.1% · +7%VAL5.9% · +7%SDRL5.7% · +8%AMR5.4% · +133%NTR5.3% · +77%CCJ5.2% · +7%CNR5.1% · +56%HCC4.4% · +59%NE4.3% · +8%EQT3.8% · +7%AR3.5% · +7%SBSW2.2% · +7%LEU2.1% · +7%PR2.0% · +6%CHRD2.0% · +8%OII1.8% · +9%UEC1.4% · +7%MOS1.4% · +28%MTDR1.4% · +5%UUUU1.3% · +7%IE1.3% · +7%EXE1.2% · +5%FANG1.2% · +5%NXE1.1% · +8%DNN0.9% · +8%CRK0.8% · +5%SM0.8% · +5%IPI0.6% · +12%BORR0.5% · +6%TMQ0.4% · +3%URG0.3% · +3%NG0.2% · +3%CMCL0.2% · +2%EU0.1% · +3%TFPM0.1% · +2%ORLA0.1% · +2%FCX0.1% · -82%TDW0.0% · 0%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

3 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 58.4%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People
Assets Under Management
$1.51B
Discretionary
$1.51B
Employees
6
Accounts
13
Address
115 BROADWAY
5TH FLOOR
NEW YORK, NY 10006
Phone
(646) 216-9777
Website
Name Title / Status Ownership Type
GOEHRING, LEIGH, RICHARD ControlMANAGING MEMBER50–75%Individual
OFRIEL, KEVIN, JOHN ControlCHIEF COMPLIANCE OFFICERLess than 5%Individual
ROZENCWAJG, ADAM, ALEXANDAR ControlMANAGING MEMBER50–75%Individual

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Top Adds (vs prior quarter)

Show all 6 →

Top Trims

Show all 31 →

New Positions

  • No new positions this quarter.
Show all 0 →

Exited Positions

Show all 2 →

Goehring & Rozencwajg Associates, LLC Holdings (2026-06-30)

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 $120.3M 6.92% 3,043,255 SH
2 SLB LIMITED SLB 806857108 $114.1M 6.56% 2,454,873 SH
3 RANGE RES CORP RRC 75281A109 $108.6M 6.25% 2,920,613 SH
4 SUNCOR ENERGY INC NEW SU 867224107 $106.1M 6.10% 1,974,700 SH
5 VALARIS LTD VAL G9460G101 $102.6M 5.90% 1,413,542 SH
6 SEADRILL LTD SDRL G7997W102 $99.7M 5.74% 2,636,666 SH
7 ALPHA METALLURGICAL RESOUR I AMR 020764106 $93.1M 5.36% 564,714 SH
8 NUTRIEN LTD NTR 67077M108 $91.6M 5.27% 1,455,019 SH
9 CAMECO CORP CCJ 13321L108 $91.0M 5.23% 893,328 SH
10 CORE NATURAL RESOURCES INC CNR 218937100 $88.1M 5.07% 1,100,977 SH
11 WARRIOR MET COAL INC HCC 93627C101 $77.2M 4.44% 951,045 SH
12 NOBLE CORP PLC NE G65431127 $74.1M 4.26% 1,987,601 SH
13 EQT CORP EQT 26884L109 $66.0M 3.79% 1,240,409 SH
14 ANTERO RESOURCES CORP AR 03674X106 $60.9M 3.50% 1,731,731 SH
15 SIBANYE STILLWATER LTD SBSW 82575P107 $38.9M 2.24% 4,580,794 SH
16 CENTRUS ENERGY CORP LEU 15643U104 $36.4M 2.09% 216,750 SH
17 PERMIAN RESOURCES CORP PR 71424F105 $35.2M 2.03% 1,914,400 SH
18 CHORD ENERGY CORPORATION CHRD 674215207 $35.1M 2.02% 306,981 SH
19 OCEANEERING INTL INC OII 675232102 $31.4M 1.81% 775,476 SH
20 URANIUM ENERGY CORP UEC 916896103 $25.1M 1.45% 2,357,786 SH
21 MOSAIC CO MOS 61945C103 $25.0M 1.44% 1,178,956 SH
22 MATADOR RES CO MTDR 576485205 $24.0M 1.38% 482,216 SH
23 ENERGY FUELS INC UUUU 292671708 $23.1M 1.33% 1,590,170 SH
24 IVANHOE ELECTRIC INC IE 46578C108 $21.8M 1.25% 2,267,908 SH
25 EXPAND ENERGY CORPORATION EXE 165167735 $21.7M 1.25% 237,837 SH
26 DIAMONDBACK ENERGY INC FANG 25278X109 $21.0M 1.21% 119,576 SH
27 NEXGEN ENERGY LTD NXE 65340P106 $18.4M 1.06% 1,964,702 SH
28 DENISON MINES CORP DNN 248356107 $15.7M 0.90% 5,117,155 SH
29 COMSTOCK RES INC CRK 205768302 $13.5M 0.78% 907,267 SH
30 SM ENERGY COMPANY SM 78454L100 $13.4M 0.77% 513,406 SH
31 INTREPID POTASH INC IPI 46121Y201 $9.8M 0.56% 297,866 SH
32 BORR DRILLING LTD BORR G1466R173 $9.2M 0.53% 2,238,675 SH
33 TRILOGY METALS INC NEW TMQ 89621C105 $6.2M 0.36% 1,775,530 SH
34 UR-ENERGY INC URG 91688R108 $6.0M 0.34% 4,384,124 SH
35 NOVAGOLD RESOURCES INC NG 66987E206 $4.2M 0.24% 710,721 SH
36 CALEDONIA MNG CORP CMCL G1757E113 $3.0M 0.17% 156,906 SH
37 ENCORE ENERGY CORP EU 29259W700 $2.0M 0.11% 1,508,483 SH
38 TRIPLE FLAG PRECIOUS METAL TFPM 89679M104 $1.8M 0.11% 61,584 SH
39 ORLA MNG LTD NEW ORLA 68634K106 $1.6M 0.09% 165,196 SH
40 FREEPORT MCMORAN INC FCX 35671D857 $1.4M 0.08% 21,912 SH
41 TIDEWATER INC NEW TDW 88642R109 $260.8K 0.01% 3,914 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-05 $1.74B 41 0001863154-26-000004
2026-03-31 2026-05-05 $1.86B 43 0001863154-26-000003
2025-12-31 2026-02-13 $1.01B 43 0001863154-26-000002
Filer Information
Address
115 BROADWAY
5TH FL
NEW YORK, NY 10006
Phone
(646) 216-9777
Filing Manager
Goehring & Rozencwajg Associates, LLC
NEW YORK, NY
Signatory
Kevin OFriel
Chief Operating Officer