Goehring & Rozencwajg Associates, LLC
CIK 0001863154
Annualised vol
11.976004%
Beta
0.253596
HHI
446.351904
Top-10 weight
58.396671%
VaR 95%
1.091421%
VaR 99%
1.8658%
Max drawdown
34.105667%
Matched value
78.946497%
Returns of reported holdings
Loading returns…
Position changes vs prior quarter
What the latest 13F shows bought and sold against the quarter before, by share count.
| Ticker | Change | Shares now | Shares before | Share change % | Value now ($) |
|---|---|---|---|---|---|
| SLB | ADDED | 2,454,873 | 2,298,550 | 6.8% | 114,127,046 |
| SU | ADDED | 1,974,700 | 1,840,155 | 7.31% | 106,135,256 |
| VAL | ADDED | 1,413,542 | 1,319,351 | 7.14% | 102,623,149 |
| SDRL | ADDED | 2,636,666 | 2,449,565 | 7.64% | 99,718,708 |
| NTR | ADDED | 1,455,019 | 822,291 | 76.95% | 91,593,446 |
| CCJ | ADDED | 893,328 | 836,431 | 6.8% | 90,994,390 |
| CNR | ADDED | 1,100,977 | 708,225 | 55.46% | 88,100,180 |
| HCC | ADDED | 951,045 | 598,113 | 59.01% | 77,186,812 |
| NE | ADDED | 1,987,601 | 1,841,206 | 7.95% | 74,137,517 |
| EQT | ADDED | 1,240,409 | 1,159,203 | 7.01% | 65,952,547 |
| AR | ADDED | 1,731,731 | 1,617,138 | 7.09% | 60,853,027 |
| SBSW | ADDED | 4,580,794 | 4,270,069 | 7.28% | 38,890,941 |
| LEU | ADDED | 216,750 | 202,058 | 7.27% | 36,385,823 |
| PR | ADDED | 1,914,400 | 1,814,700 | 5.49% | 35,244,104 |
| CHRD | ADDED | 306,981 | 283,461 | 8.3% | 35,087,928 |
| OII | ADDED | 775,476 | 713,586 | 8.67% | 31,422,288 |
| UEC | ADDED | 2,357,786 | 2,201,921 | 7.08% | 25,133,999 |
| MOS | ADDED | 1,178,956 | 922,305 | 27.83% | 24,982,078 |
| UUUU | ADDED | 1,590,170 | 1,484,902 | 7.09% | 23,057,465 |
| IE | ADDED | 2,267,908 | 2,115,009 | 7.23% | 21,794,596 |
| EXE | ADDED | 237,837 | 225,860 | 5.3% | 21,688,356 |
| FANG | ADDED | 119,576 | 113,489 | 5.36% | 21,019,069 |
| NXE | ADDED | 1,964,702 | 1,810,943 | 8.49% | 18,448,552 |
| DNN | ADDED | 5,117,155 | 4,720,615 | 8.4% | 15,658,494 |
| SM | ADDED | 513,406 | 487,730 | 5.26% | 13,399,897 |
| IPI | ADDED | 297,866 | 267,097 | 11.52% | 9,764,047 |
| BORR | ADDED | 2,238,675 | 2,119,465 | 5.62% | 9,245,728 |
| TMQ | ADDED | 1,775,530 | 1,728,153 | 2.74% | 6,203,906 |
| URG | ADDED | 4,384,124 | 4,253,094 | 3.08% | 5,962,409 |
| NG | ADDED | 710,721 | 692,741 | 2.6% | 4,243,004 |
| EU | ADDED | 1,508,483 | 1,464,724 | 2.99% | 1,976,113 |
| FCX | REDUCED | 21,912 | 123,252 | -82.22% | 1,374,708 |
| TDW | UNCHANGED | 3,914 | 3,914 | 0.0% | 260,790 |
| EQX | CLOSED OUT | 0 | 1,283,253 | -100.0% | 0 |
| AGI | CLOSED OUT | 0 | 686,587 | -100.0% | 0 |
Holdings (latest quarter)
| Ticker | Change | Issuer | Class | CUSIP | Value ($) | Weight % | Shares |
|---|---|---|---|---|---|---|---|
| - | CANADIAN NAT RES LTD MED TER | COM | 136385101 | 120,306,700 | 6.92 | 3043255.0 | |
| SLB | ADDED | SLB LIMITED | COM STK | 806857108 | 114,127,046 | 6.56 | 2454873.0 |
| - | RANGE RES CORP | COM | 75281A109 | 108,617,597 | 6.25 | 2920613.0 | |
| SU | ADDED | SUNCOR ENERGY INC NEW | COM | 867224107 | 106,135,256 | 6.1 | 1974700.0 |
| VAL | ADDED | VALARIS LTD | CL A | G9460G101 | 102,623,149 | 5.9 | 1413542.0 |
| SDRL | ADDED | SEADRILL LTD | COM | G7997W102 | 99,718,708 | 5.74 | 2636666.0 |
| - | ALPHA METALLURGICAL RESOUR I | COM | 020764106 | 93,143,927 | 5.36 | 564714.0 | |
| NTR | ADDED | NUTRIEN LTD | COM | 67077M108 | 91,593,446 | 5.27 | 1455019.0 |
| CCJ | ADDED | CAMECO CORP | COM | 13321L108 | 90,994,390 | 5.23 | 893328.0 |
| CNR | ADDED | CORE NATURAL RESOURCES INC | COM SHS | 218937100 | 88,100,180 | 5.07 | 1100977.0 |
| HCC | ADDED | WARRIOR MET COAL INC | COM | 93627C101 | 77,186,812 | 4.44 | 951045.0 |
| NE | ADDED | NOBLE CORP PLC | ORD SHS A | G65431127 | 74,137,517 | 4.26 | 1987601.0 |
| EQT | ADDED | EQT CORP | COM | 26884L109 | 65,952,547 | 3.79 | 1240409.0 |
| AR | ADDED | ANTERO RESOURCES CORP | COM | 03674X106 | 60,853,027 | 3.5 | 1731731.0 |
| SBSW | ADDED | SIBANYE STILLWATER LTD | SPONSORED ADR | 82575P107 | 38,890,941 | 2.24 | 4580794.0 |
| LEU | ADDED | CENTRUS ENERGY CORP | CL A | 15643U104 | 36,385,823 | 2.09 | 216750.0 |
| PR | ADDED | PERMIAN RESOURCES CORP | CLASS A COM | 71424F105 | 35,244,104 | 2.03 | 1914400.0 |
| CHRD | ADDED | CHORD ENERGY CORPORATION | COM NEW | 674215207 | 35,087,928 | 2.02 | 306981.0 |
| OII | ADDED | OCEANEERING INTL INC | COM | 675232102 | 31,422,288 | 1.81 | 775476.0 |
| UEC | ADDED | URANIUM ENERGY CORP | COM | 916896103 | 25,133,999 | 1.45 | 2357786.0 |
| MOS | ADDED | MOSAIC CO | COM | 61945C103 | 24,982,078 | 1.44 | 1178956.0 |
| - | MATADOR RES CO | COM | 576485205 | 24,004,712 | 1.38 | 482216.0 | |
| UUUU | ADDED | ENERGY FUELS INC | COM NEW | 292671708 | 23,057,465 | 1.33 | 1590170.0 |
| IE | ADDED | IVANHOE ELECTRIC INC | COM | 46578C108 | 21,794,596 | 1.25 | 2267908.0 |
| EXE | ADDED | EXPAND ENERGY CORPORATION | COM | 165167735 | 21,688,356 | 1.25 | 237837.0 |
| FANG | ADDED | DIAMONDBACK ENERGY INC | COM | 25278X109 | 21,019,069 | 1.21 | 119576.0 |
| NXE | ADDED | NEXGEN ENERGY LTD | COM | 65340P106 | 18,448,552 | 1.06 | 1964702.0 |
| DNN | ADDED | DENISON MINES CORP | COM | 248356107 | 15,658,494 | 0.9 | 5117155.0 |
| - | COMSTOCK RES INC | COM | 205768302 | 13,536,424 | 0.78 | 907267.0 | |
| SM | ADDED | SM ENERGY COMPANY | COM | 78454L100 | 13,399,897 | 0.77 | 513406.0 |
| IPI | ADDED | INTREPID POTASH INC | COM | 46121Y201 | 9,764,047 | 0.56 | 297866.0 |
| BORR | ADDED | BORR DRILLING LTD | SHS | G1466R173 | 9,245,728 | 0.53 | 2238675.0 |
| TMQ | ADDED | TRILOGY METALS INC NEW | COM | 89621C105 | 6,203,906 | 0.36 | 1775530.0 |
| URG | ADDED | UR-ENERGY INC | COM | 91688R108 | 5,962,409 | 0.34 | 4384124.0 |
| NG | ADDED | NOVAGOLD RESOURCES INC | COM NEW | 66987E206 | 4,243,004 | 0.24 | 710721.0 |
| - | CALEDONIA MNG CORP | SHS NEW | G1757E113 | 2,996,905 | 0.17 | 156906.0 | |
| EU | ADDED | ENCORE ENERGY CORP | COM NEW | 29259W700 | 1,976,113 | 0.11 | 1508483.0 |
| - | TRIPLE FLAG PRECIOUS METAL | COM | 89679M104 | 1,843,269 | 0.11 | 61584.0 | |
| - | ORLA MNG LTD NEW | COM | 68634K106 | 1,614,024 | 0.09 | 165196.0 | |
| FCX | REDUCED | FREEPORT MCMORAN INC | CL B | 35671D857 | 1,374,708 | 0.08 | 21912.0 |
| TDW | UNCHANGED | TIDEWATER INC NEW | COM | 88642R109 | 260,790 | 0.01 | 3914.0 |
Quarterly portfolios
| Period | Filed | Value ($) | Positions | Vol % | Beta | Max DD % |
|---|---|---|---|---|---|---|
| 2026-06-30 | 2026-08-05 | 1,738,729,931 | 41 | 11.976004 | 0.253596 | 34.105667 |
| 2026-03-31 | 2026-05-05 | 1,861,025,819 | 43 | 12.202187 | 0.261572 | 34.823752 |
| 2025-12-31 | 2026-02-13 | 1,009,385,873 | 43 | 10.995355 | 0.223286 | 25.923079 |
| 2025-09-30 | 2025-11-10 | 830,879,612 | 42 | 10.724154 | 0.18889 | 19.806178 |
| 2025-03-31 | 2025-04-29 | 551,720,699 | 42 | 11.017748 | 0.227231 | 28.808513 |
| 2024-12-31 | 2025-01-28 | 486,767,254 | 44 | 10.222473 | 0.214899 | 26.140324 |