Goehring & Rozencwajg Associates, LLC

CIK

1863154

Location

NEW YORK, NY

Portfolio Value

Mid $1,860,956,612

Diversification

Diversified

Filing Date

Global Rank

#1,034 / 8,232 ▲ 570

Top Industry

Oil & Gas E&P 31.8%

3Y Alpha vs SPY

+5.9%

Period ended 2 months ago

Filed May 5, 2026 · 40d

14 quarters · since Dec 2022

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+106.9%

SPY

+76.3%

Annualised alpha

+6.6%

Max drawdown

−24.6%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

43 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

7.4%

+0.6 pts

Top 5

33.8%

+3.1 pts

Top 10

57.5%

+4.7 pts

HHI

430

Diversified+44

Portfolio Trend

14 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Energy	80.8%	$1,504,068,672	28
Basic Materials	19.2%	$356,887,940	15

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
PR	Permian Resources Corp	+1,365,465	1,814,700	$38,689,404
SLB	Slb Limited/Nv	+1,361,588	2,298,550	$118,122,484
SU	Suncor Energy Inc	+1,112,774	1,840,155	$121,652,647
CNQ	Canadian Natural Resources Ltd	+925,440	2,827,853	$137,801,276
URG	Ur-Energy Inc	+785,173	4,253,094	$6,337,110
DNN	Denison Mines Corp.	+767,863	4,720,615	$16,663,770
SBSW	Sibanye Stillwater Ltd	+730,389	4,270,069	$52,607,250
RRC	Range Resources Corp	+718,648	2,721,749	$122,968,619
SDRL	Seadrill Ltd	+529,884	2,449,565	$111,455,207
BORR	Borr Drilling Ltd	+496,302	2,119,465	$12,229,313
MOS	Mosaic Co	+471,259	922,305	$23,518,777
AR	ANTERO RESOURCES Corp	+433,518	1,617,138	$68,631,336
NE	Noble Corp plc	+415,152	1,841,206	$90,347,978
CNR	Core Natural Resources, Inc.	+405,505	708,225	$74,172,404
UEC	Uranium Energy Corp	+380,827	2,201,921	$29,725,933
IE	Ivanhoe Electric Inc.	+327,112	2,115,009	$24,999,406
TMQ	Trilogy Metals Inc.	+319,949	1,728,153	$6,204,069
EQT	EQT Corp	+313,493	1,159,203	$73,771,678
NXE	NexGen Energy Ltd.	+292,004	1,810,943	$21,006,938
VAL	Valaris Ltd	+257,281	1,319,351	$129,349,172
UUUU	Energy Fuels Inc	+255,494	1,484,902	$27,099,461
EU	enCore Energy Corp.	+237,469	1,464,724	$2,636,503
CRK	Comstock Resources Inc	+222,569	861,858	$18,167,966
AMR	Alpha Metallurgical Resources, Inc.	+163,144	242,039	$49,683,345
CCJ	Cameco Corp	+153,479	836,431	$90,844,770
No positions match the current search.

Trimmed

Positions the filer reduced

8 positions

Ticker	Company	Δ Shares	Shares	Value
ORLA	Orla Mining Ltd.	−616,365	161,584	$2,606,349
EQX	Equinox Gold Corp.	−181,508	1,283,253	$18,555,838
FCX	Freeport-Mcmoran Inc	−114,332	123,252	$7,244,752
NG	Novagold Resources Inc	−107,085	692,741	$6,220,814
AGI	Alamos Gold Inc	−94,064	686,587	$30,505,060
CMCL	Caledonia Mining Corp Plc	−12,040	153,264	$3,462,233
TFPM	Triple Flag Precious Metals Corp.	−7,751	60,271	$2,092,006
NTR	Nutrien Ltd.	−3,146	822,291	$62,050,078
No positions match the current search.

New Positions

Positions the filer opened this quarter

4 positions

Ticker	Company	Shares	Value
HCC	Warrior Met Coal, Inc.	598,113	$55,714,225
CHRD	Chord Energy Corp	283,461	$40,302,484
SM	SM Energy Co	487,730	$15,207,421
TDW	Tidewater Inc	3,914	$327,014
No positions match the current search.

Sold Out

Positions the filer fully exited

3 positions

Ticker	Company	Shares	Value
HBM	Hudbay Minerals Inc.	824,951	$16,375,277
SKE	Skeena Resources Ltd	562,975	$13,359,396
PAAS	Pan American Silver Corp	175,080	$9,070,894
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

43 positions · $1,860,956,612 total · as of Mar 31, 2026

All sectors Basic Materials Energy

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
CNQ	Canadian Natural Resources Ltd Energy	Added	2,827,853	+925,440	$137,801,276	+114.0%	7.40%
VAL	Valaris Ltd Energy	Added	1,319,351	+257,281	$129,349,172	+141.6%	6.95%
RRC	Range Resources Corp Energy	Added	2,721,749	+718,648	$122,968,619	+74.1%	6.61%
SU	Suncor Energy Inc Energy	Added	1,840,155	+1,112,774	$121,652,647	+277.0%	6.54%
SLB	Slb Limited/Nv Energy	Added	2,298,550	+1,361,588	$118,122,484	+228.5%	6.35%
SDRL	Seadrill Ltd Energy	Added	2,449,565	+529,884	$111,455,207	+67.8%	5.99%
CCJ	Cameco Corp Energy	Added	836,431	+153,479	$90,844,770	+45.4%	4.88%
NE	Noble Corp plc Energy	Added	1,841,206	+415,152	$90,347,978	+124.3%	4.85%
CNR	Core Natural Resources, Inc. Energy	Added	708,225	+405,505	$74,172,404	+176.8%	3.99%
EQT	EQT Corp Energy	Added	1,159,203	+313,493	$73,771,678	+62.7%	3.96%
AR	ANTERO RESOURCES Corp Energy	Added	1,617,138	+433,518	$68,631,336	+68.3%	3.69%
NTR	Nutrien Ltd. Basic Materials	Reduced	822,291	-3,146	$62,050,078	+21.8%	3.33%
HCC	Warrior Met Coal, Inc. Basic Materials	NEW	598,113	NEW	$55,714,225	NEW	2.99%
SBSW	Sibanye Stillwater Ltd Basic Materials	Added	4,270,069	+730,389	$52,607,250	+4.3%	2.83%
AMR	Alpha Metallurgical Resources, Inc. Basic Materials	Added	242,039	+163,144	$49,683,345	+215.1%	2.67%
CHRD	Chord Energy Corp Energy	NEW	283,461	NEW	$40,302,484	NEW	2.17%
PR	Permian Resources Corp Energy	Added	1,814,700	+1,365,465	$38,689,404	+513.8%	2.08%
LEU	Centrus Energy Corp Energy	Added	202,058	+30,944	$35,075,248	−15.6%	1.88%
AGI	Alamos Gold Inc Basic Materials	Reduced	686,587	-94,064	$30,505,060	+1.3%	1.64%
UEC	Uranium Energy Corp Energy	Added	2,201,921	+380,827	$29,725,933	+39.8%	1.60%
MTDR	Matador Resources Co Energy	Added	457,894	+113,756	$28,929,742	+98.1%	1.55%
UUUU	Energy Fuels Inc Energy	Added	1,484,902	+255,494	$27,099,461	+51.6%	1.46%
OII	Oceaneering International Inc Energy	Added	713,586	+144,852	$25,310,895	+85.2%	1.36%
IE	Ivanhoe Electric Inc. Basic Materials	Added	2,115,009	+327,112	$24,999,406	−12.5%	1.34%
EXE	EXPAND ENERGY Corp Energy	Added	225,860	+60,492	$24,794,910	+35.9%	1.33%
MOS	Mosaic Co Basic Materials	Added	922,305	+471,259	$23,518,777	+116.4%	1.26%
FANG	Diamondback Energy, Inc. Energy	Added	113,489	+28,246	$22,446,989	+75.2%	1.21%
NXE	NexGen Energy Ltd. Energy	Added	1,810,943	+292,004	$21,006,938	+50.3%	1.13%
EQX	Equinox Gold Corp. Basic Materials	Reduced	1,283,253	-181,508	$18,555,838	−9.8%	1.00%
CRK	Comstock Resources Inc Energy	Added	861,858	+222,569	$18,167,966	+22.6%	0.98%
DNN	Denison Mines Corp. Energy	Added	4,720,615	+767,863	$16,663,770	+58.5%	0.90%
SM	SM Energy Co Energy	NEW	487,730	NEW	$15,207,421	NEW	0.82%
BORR	Borr Drilling Ltd Energy	Added	2,119,465	+496,302	$12,229,313	+87.0%	0.66%
IPI	Intrepid Potash, Inc. Basic Materials	Added	267,097	+47,781	$11,423,738	+87.8%	0.61%
FCX	Freeport-Mcmoran Inc Basic Materials	Reduced	123,252	-114,332	$7,244,752	−40.0%	0.39%
URG	Ur-Energy Inc Energy	Added	4,253,094	+785,173	$6,337,110	+31.5%	0.34%
NG	Novagold Resources Inc Basic Materials	Reduced	692,741	-107,085	$6,220,814	−16.5%	0.33%
TMQ	Trilogy Metals Inc. Basic Materials	Added	1,728,153	+319,949	$6,204,069	+2.2%	0.33%
CMCL	Caledonia Mining Corp Plc Basic Materials	Reduced	153,264	-12,040	$3,462,233	−20.0%	0.19%
EU	enCore Energy Corp. Energy	Added	1,464,724	+237,469	$2,636,503	−13.4%	0.14%
ORLA	Orla Mining Ltd. Basic Materials	Reduced	161,584	-616,365	$2,606,349	−75.1%	0.14%
TFPM	Triple Flag Precious Metals Corp. Basic Materials	Reduced	60,271	-7,751	$2,092,006	−7.4%	0.11%
TDW	Tidewater Inc Energy	NEW	3,914	NEW	$327,014	NEW	0.02%