Goehring & Rozencwajg Associates, LLC
Filing Date
Global Rank
#1,257
/ 8,622
▲ 525
· as of Mar 2026
Top Industry
Oil & Gas E&P
31.8%
3Y Alpha vs SPY
+1.8%
Period ended 4 months ago
Filed May 5, 2026 · 3mo
14 quarters · since Dec 2022
Clone Performance
Jul 2023–Jul 2026 · vs SPYHypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.
Cloned portfolio
+66.7%
SPY
+67.9%
Annualised alpha
-0.3%
Max drawdown
−24.6%
Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.
Portfolio Concentration
43 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top 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 |
|---|---|---|
| Energy | 80.8% | $1,504,068,672 |
| Basic Materials | 19.2% | $356,887,940 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| 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 | Open |
|---|---|---|---|---|---|
| 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. | |||||
43 tracked positions ·
$1,860,956,612 total
· as of Mar 31, 2026
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| CNQ |
CANADIAN NATURAL RESOURCES Ltd
Energy
|
Added | 2,827,853 | $137,801,276 | 7.40% | |
| VAL |
Valaris Ltd
Energy
|
Added | 1,319,351 | $129,349,172 | 6.95% | |
| RRC |
Range Resources Corp
Energy
|
Added | 2,721,749 | $122,968,619 | 6.61% | |
| SU |
Suncor Energy Inc
Energy
|
Added | 1,840,155 | $121,652,647 | 6.54% | |
| SLB |
Slb Limited/Nv
Energy
|
Added | 2,298,550 | $118,122,484 | 6.35% | |
| SDRL |
SEADRILL Ltd
Energy
|
Added | 2,449,565 | $111,455,207 | 5.99% | |
| CCJ |
Cameco Corp
Energy
|
Added | 836,431 | $90,844,770 | 4.88% | |
| NE |
Noble Corp plc
Energy
|
Added | 1,841,206 | $90,347,978 | 4.85% | |
| CNR |
Core Natural Resources, Inc.
Energy
|
Added | 708,225 | $74,172,404 | 3.99% | |
| EQT |
EQT Corp
Energy
|
Added | 1,159,203 | $73,771,678 | 3.96% | |
| AR |
ANTERO RESOURCES Corp
Energy
|
Added | 1,617,138 | $68,631,336 | 3.69% | |
| NTR |
Nutrien Ltd.
Basic Materials
|
Reduced | 822,291 | $62,050,078 | 3.33% | |
| HCC |
Warrior Met Coal, Inc.
Basic Materials
|
NEW | 598,113 | $55,714,225 | 2.99% | |
| SBSW |
Sibanye Stillwater Ltd
Basic Materials
|
Added | 4,270,069 | $52,607,250 | 2.83% | |
| AMR |
Alpha Metallurgical Resources, Inc.
Basic Materials
|
Added | 242,039 | $49,683,345 | 2.67% | |
| CHRD |
Chord Energy Corp
Energy
|
NEW | 283,461 | $40,302,484 | 2.17% | |
| PR |
Permian Resources Corp
Energy
|
Added | 1,814,700 | $38,689,404 | 2.08% | |
| LEU |
Centrus Energy Corp
Energy
|
Added | 202,058 | $35,075,248 | 1.88% | |
| AGI |
Alamos Gold Inc
Basic Materials
|
Reduced | 686,587 | $30,505,060 | 1.64% | |
| UEC |
Uranium Energy Corp
Energy
|
Added | 2,201,921 | $29,725,933 | 1.60% | |
| MTDR |
Matador Resources Co
Energy
|
Added | 457,894 | $28,929,742 | 1.55% | |
| UUUU |
Energy Fuels Inc
Energy
|
Added | 1,484,902 | $27,099,461 | 1.46% | |
| OII |
Oceaneering International Inc
Energy
|
Added | 713,586 | $25,310,895 | 1.36% | |
| IE |
Ivanhoe Electric Inc.
Basic Materials
|
Added | 2,115,009 | $24,999,406 | 1.34% | |
| EXE |
EXPAND ENERGY Corp
Energy
|
Added | 225,860 | $24,794,910 | 1.33% | |
| MOS |
Mosaic Co
Basic Materials
|
Added | 922,305 | $23,518,777 | 1.26% | |
| FANG |
Diamondback Energy, Inc.
Energy
|
Added | 113,489 | $22,446,989 | 1.21% | |
| NXE |
NexGen Energy Ltd.
Energy
|
Added | 1,810,943 | $21,006,938 | 1.13% | |
| EQX |
Equinox Gold Corp.
Basic Materials
|
Reduced | 1,283,253 | $18,555,838 | 1.00% | |
| CRK |
Comstock Resources Inc
Energy
|
Added | 861,858 | $18,167,966 | 0.98% | |
| DNN |
Denison Mines Corp.
Energy
|
Added | 4,720,615 | $16,663,770 | 0.90% | |
| SM |
SM Energy Co
Energy
|
NEW | 487,730 | $15,207,421 | 0.82% | |
| BORR |
Borr Drilling Ltd
Energy
|
Added | 2,119,465 | $12,229,313 | 0.66% | |
| IPI |
Intrepid Potash, Inc.
Basic Materials
|
Added | 267,097 | $11,423,738 | 0.61% | |
| FCX |
Freeport-Mcmoran Inc
Basic Materials
|
Reduced | 123,252 | $7,244,752 | 0.39% | |
| URG |
Ur-Energy Inc
Energy
|
Added | 4,253,094 | $6,337,110 | 0.34% | |
| NG |
Novagold Resources Inc
Basic Materials
|
Reduced | 692,741 | $6,220,814 | 0.33% | |
| TMQ |
Trilogy Metals Inc.
Basic Materials
|
Added | 1,728,153 | $6,204,069 | 0.33% | |
| CMCL |
Caledonia Mining Corp Plc
Basic Materials
|
Reduced | 153,264 | $3,462,233 | 0.19% | |
| EU |
enCore Energy Corp.
Energy
|
Added | 1,464,724 | $2,636,503 | 0.14% | |
| ORLA |
Orla Mining Ltd.
Basic Materials
|
Reduced | 161,584 | $2,606,349 | 0.14% | |
| TFPM |
Triple Flag Precious Metals Corp.
Basic Materials
|
Reduced | 60,271 | $2,092,006 | 0.11% | |
| TDW |
Tidewater Inc
Energy
|
NEW | 3,914 | $327,014 | 0.02% |
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.