Goehring & Rozencwajg Associates
NEW YORK, NYfiles as Goehring & Rozencwajg Associates, LLC
$1.7bn in 41 US stocks at the end of 30 June 2026. The top 10 are 58.4% of the money. It changed about 8.6% of the portfolio this quarter.
Value
$1.7bn
Stocks
41
Top 10 share
58.4%
Turnover
8.6%
What changed this quarter
New
Bought for the first time this quarter.
None this quarter.
Added
Bought more of a stock they already held.
- Canadian Natural ResourcesCNQ6.9% of the fund+8%
- SLB LimitedSLB6.6% of the fund+7%
- Range ResourcesRRC6.2% of the fund+7%
- Suncor EnergySU6.1% of the fund+7%
- ValarisVAL5.9% of the fund+7%
- SeadrillSDRL5.7% of the fund+8%
- Alpha Metallurgical ResourcesAMR5.4% of the fund+133%
- NutrienNTR5.3% of the fund+77%
- CamecoCCJ5.2% of the fund+7%
- Core Natural ResourcesCNR5.1% of the fund+55%
- Warrior MET CoalHCC4.4% of the fund+59%
- NobleNE4.3% of the fund+8%
- EQTEQT3.8% of the fund+7%
- Antero ResourcesAR3.5% of the fund+7%
- Sibanye StillwaterSBSW2.2% of the fund+7%
- Centrus EnergyLEU2.1% of the fund+7%
- Permian ResourcesPR2.0% of the fund+5%
- Chord EnergyCHRD2.0% of the fund+8%
- Oceaneering InternationalOII1.8% of the fund+9%
- Uranium EnergyUEC1.4% of the fund+7%
- MosaicMOS1.4% of the fund+28%
- Matador ResourcesMTDR1.4% of the fund+5%
- Energy FuelsUUUU1.3% of the fund+7%
- Ivanhoe ElectricIE1.3% of the fund+7%
- Expand EnergyEXE1.2% of the fund+5%
Cut
Sold some of their stake.
- Freeport-McMoRanFCX<0.1% of the fund-82%
Sold out
Sold their entire stake.
- Alamos GoldAGI-100%
- Equinox GoldEQX-100%
Holdings
- Canadian Natural ResourcesCNQ
- Share
- 6.9%
- Value
- $120m
- Shares
- 3,043,255
+8%
- Suncor EnergySU
- Share
- 6.1%
- Value
- $106m
- Shares
- 1,974,700
+7%
- NutrienNTR
- Share
- 5.3%
- Value
- $92m
- Shares
- 1,455,019
+77%
- CamecoCCJ
- Share
- 5.2%
- Value
- $91m
- Shares
- 893,328
+7%
- NexGen EnergyNXE
- Share
- 1.1%
- Value
- $18m
- Shares
- 1,964,702
+8%
- Denison MinesDNN
- Share
- 0.9%
- Value
- $16m
- Shares
- 5,117,155
+8%
- Triple Flag Precious MetalsTFPM
- Share
- 0.1%
- Value
- $2m
- Shares
- 61,584
+2%
- Orla MNG LTD NewORLA
- Share
- <0.1%
- Value
- $2m
- Shares
- 165,196
+2%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Canadian Natural ResourcesCNQ | 6.9% | $120m | 3,043,255 | +8% |
| SLB LimitedSLB | 6.6% | $114m | 2,454,873 | +7% |
| Range ResourcesRRC | 6.2% | $109m | 2,920,613 | +7% |
| Suncor EnergySU | 6.1% | $106m | 1,974,700 | +7% |
| ValarisVAL | 5.9% | $103m | 1,413,542 | +7% |
| SeadrillSDRL | 5.7% | $100m | 2,636,666 | +8% |
| Alpha Metallurgical ResourcesAMR | 5.4% | $93m | 564,714 | +133% |
| NutrienNTR | 5.3% | $92m | 1,455,019 | +77% |
| CamecoCCJ | 5.2% | $91m | 893,328 | +7% |
| Core Natural ResourcesCNR | 5.1% | $88m | 1,100,977 | +55% |
| Warrior MET CoalHCC | 4.4% | $77m | 951,045 | +59% |
| NobleNE | 4.3% | $74m | 1,987,601 | +8% |
| EQTEQT | 3.8% | $66m | 1,240,409 | +7% |
| Antero ResourcesAR | 3.5% | $61m | 1,731,731 | +7% |
| Sibanye StillwaterSBSW | 2.2% | $39m | 4,580,794 | +7% |
| Centrus EnergyLEU | 2.1% | $36m | 216,750 | +7% |
| Permian ResourcesPR | 2.0% | $35m | 1,914,400 | +5% |
| Chord EnergyCHRD | 2.0% | $35m | 306,981 | +8% |
| Oceaneering InternationalOII | 1.8% | $31m | 775,476 | +9% |
| Uranium EnergyUEC | 1.4% | $25m | 2,357,786 | +7% |
| MosaicMOS | 1.4% | $25m | 1,178,956 | +28% |
| Matador ResourcesMTDR | 1.4% | $24m | 482,216 | +5% |
| Energy FuelsUUUU | 1.3% | $23m | 1,590,170 | +7% |
| Ivanhoe ElectricIE | 1.3% | $22m | 2,267,908 | +7% |
| Expand EnergyEXE | 1.2% | $22m | 237,837 | +5% |
| Diamondback EnergyFANG | 1.2% | $21m | 119,576 | +5% |
| NexGen EnergyNXE | 1.1% | $18m | 1,964,702 | +8% |
| Denison MinesDNN | 0.9% | $16m | 5,117,155 | +8% |
| Comstock ResourcesCRK | 0.8% | $14m | 907,267 | +5% |
| SM EnergySM | 0.8% | $13m | 513,406 | +5% |
| Intrepid PotashIPI | 0.6% | $10m | 297,866 | +12% |
| Borr DrillingBORR | 0.5% | $9m | 2,238,675 | +6% |
| Trilogy MetalsTMQ | 0.4% | $6m | 1,775,530 | +3% |
| Ur-EnergyURG | 0.3% | $6m | 4,384,124 | +3% |
| Novagold ResourcesNG | 0.2% | $4m | 710,721 | +3% |
| Caledonia MiningCMCL | 0.2% | $3m | 156,906 | +2% |
| enCore EnergyEU | 0.1% | $2m | 1,508,483 | +3% |
| Triple Flag Precious MetalsTFPM | 0.1% | $2m | 61,584 | +2% |
| Orla MNG LTD NewORLA | <0.1% | $2m | 165,196 | +2% |
| Freeport-McMoRanFCX | <0.1% | $1m | 21,912 | -82% |
| TidewaterTDW | <0.1% | $260,790 | 3,914 | Held |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 165.9% since 30 June 2025.
Where the money is
Energy75.7%
Materials24.1%
Financial services0.1%
Industrials0.0%
Other0.1%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.