Goehring & Rozencwajg Associates, LLC

NEW YORK, NY · CIK 1863154 · 13F filing filed 2026-08-05

SEC-registered investment adviser since 2016 · limited liability company

Assets managed$1.5bn
Staff6 · 2 in investment roles
Main clients (by assets)Mutual funds and ETFs 50%, Sovereign wealth funds 11%, Companies 8%
Private funds3 · $5.3m gross assets
Form ADV · 2026-05-04SEC adviser record

Legal entityGOEHRING & ROZENCWAJG ASSOCIATES, LLC (US)

Kindventure, mutual funds
Others nearbyNew York, NY

As an employer

Offices in1 country
Private fundsother private 2, venture capital 1

$1.7bn reported value -6.6% vs Q1 2026

41positions

58.4%in top 10

0 new 39 added 1 reduced 2 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	CANADIAN NAT RES LTD COM CNQ	CNQ	3,043,255	$120.3m6.92%	6.92%	Added +215.4k	+215,402 7.6%
2	SCHLUMBERGER LTD COM STK SLB	SLB	2,454,873	$114.1m6.56%	6.56%	Added +156.3k	+156,323 6.8%
3	RANGE RES CORP COM RRC	RRC	2,920,613	$108.6m6.25%	6.25%	Added +198.9k	+198,864 7.3%
4	SUNCOR ENERGY INC NEW COM SU	SU	1,974,700	$106.1m6.10%	6.10%	Added +134.5k	+134,545 7.3%
5	VALARIS LTD CL A VAL	VAL	1,413,542	$102.6m5.90%	5.90%	Added +94.2k	+94,191 7.1%
6	SEADRILL LTD COM SDRL	SDRL	2,636,666	$99.7m5.74%	5.74%	Added +187.1k	+187,101 7.6%
7	ALPHA METALLURGICAL RESOUR I COM AMR	AMR	564,714	$93.1m5.36%	5.36%	Added +322.7k	+322,675 133.3%
8	NUTRIEN LTD COM NTR	NTR	1,455,019	$91.6m5.27%	5.27%	Added +632.7k	+632,728 77.0%
9	CAMECO CORP COM CCJ	CCJ	893,328	$91.0m5.23%	5.23%	Added +56.9k	+56,897 6.8%
10	CORE NATURAL RESOURCES INC COM SHS CNR	CNR	1,100,977	$88.1m5.07%	5.07%	Added +392.8k	+392,752 55.5%
11	WARRIOR MET COAL INC COM HCC	HCC	951,045	$77.2m4.44%	4.44%	Added +352.9k	+352,932 59.0%
12	NOBLE CORP PLC ORD SHS A NE	NE	1,987,601	$74.1m4.26%	4.26%	Added +146.4k	+146,395 8.0%
13	EQT CORP COM EQT	EQT	1,240,409	$66.0m3.79%	3.79%	Added +81.2k	+81,206 7.0%
14	ANTERO RESOURCES CORP COM AR	AR	1,731,731	$60.9m3.50%	3.50%	Added +114.6k	+114,593 7.1%
15	SIBANYE STILLWATER LTD SPONSORED ADR SBSW	SBSW	4,580,794	$38.9m2.24%	2.24%	Added +310.7k	+310,725 7.3%
16	CENTRUS ENERGY CORP CL A LEU	LEU	216,750	$36.4m2.09%	2.09%	Added +14.7k	+14,692 7.3%
17	PERMIAN RESOURCES CORP CLASS A COM PR	PR	1,914,400	$35.2m2.03%	2.03%	Added +99.7k	+99,700 5.5%
18	CHORD ENERGY CORPORATION COM NEW CHRD	CHRD	306,981	$35.1m2.02%	2.02%	Added +23.5k	+23,520 8.3%
19	OCEANEERING INTL INC COM OII	OII	775,476	$31.4m1.81%	1.81%	Added +61.9k	+61,890 8.7%
20	URANIUM ENERGY CORP COM UEC	UEC	2,357,786	$25.1m1.45%	1.45%	Added +155.9k	+155,865 7.1%
21	MOSAIC CO NEW COM MOS	MOS	1,178,956	$25.0m1.44%	1.44%	Added +256.7k	+256,651 27.8%
22	MATADOR RES CO COM MTDR	MTDR	482,216	$24.0m1.38%	1.38%	Added +24.3k	+24,322 5.3%
23	ENERGY FUELS INC COM NEW UUUU	UUUU	1,590,170	$23.1m1.33%	1.33%	Added +105.3k	+105,268 7.1%
24	IVANHOE ELECTRIC INC COM IE	IE	2,267,908	$21.8m1.25%	1.25%	Added +152.9k	+152,899 7.2%
25	EXPAND ENERGY CORPORATION COM EXE	EXE	237,837	$21.7m1.25%	1.25%	Added +12.0k	+11,977 5.3%
26	DIAMONDBACK ENERGY INC COM FANG	FANG	119,576	$21.0m1.21%	1.21%	Added +6.1k	+6,087 5.4%
27	NEXGEN ENERGY LTD COM NXE	NXE	1,964,702	$18.4m1.06%	1.06%	Added +153.8k	+153,759 8.5%
28	DENISON MINES CORP COM DNN	DNN	5,117,155	$15.7m0.90%	0.90%	Added +396.5k	+396,540 8.4%
29	COMSTOCK RES INC COM CRK	CRK	907,267	$13.5m0.78%	0.78%	Added +45.4k	+45,409 5.3%
30	SM ENERGY CO COM SM	SM	513,406	$13.4m0.77%	0.77%	Added +25.7k	+25,676 5.3%
31	INTREPID POTASH INC COM IPI	IPI	297,866	$9.8m0.56%	0.56%	Added +30.8k	+30,769 11.5%
32	BORR DRILLING LTD SHS BORR	BORR	2,238,675	$9.2m0.53%	0.53%	Added +119.2k	+119,210 5.6%
33	TRILOGY METALS INC NEW COM TMQ	TMQ	1,775,530	$6.2m0.36%	0.36%	Added +47.4k	+47,377 2.7%
34	UR-ENERGY INC COM URG	URG	4,384,124	$6.0m0.34%	0.34%	Added +131.0k	+131,030 3.1%
35	NOVAGOLD RES INC COM NEW NG	NG	710,721	$4.2m0.24%	0.24%	Added +18.0k	+17,980 2.6%
36	CALEDONIA MNG CORP PLC SHS NEW CMCL	CMCL	156,906	$3.0m0.17%	0.17%	Added +3.6k	+3,642 2.4%
37	ENCORE ENERGY CORP COM NEW EU	EU	1,508,483	$2.0m0.11%	0.11%	Added +43.8k	+43,759 3.0%
38	TRIPLE FLAG PRECIOUS METAL COM TFPM	TFPM	61,584	$1.8m0.11%	0.11%	Added +1.3k	+1,313 2.2%
39	ORLA MNG LTD NEW COM OLA	OLA	165,196	$1.6m0.09%	0.09%	Added +3.6k	+3,612 2.2%
40	FREEPORT-MCMORAN INC CL B FCX	FCX	21,912	$1.4m0.08%	0.08%	Reduced -101.3k	-101,340 -82.2%
41	TIDEWATER INC NEW COM TDW	TDW	3,914	$260.8k0.01%	0.01%	Unchanged

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
ALAMOS GOLD INC NEW AGI	AGI	686,587	$30.5m686.6k shares
EQUINOX GOLD CORP EQX	EQX	1,283,253	$18.5m1.3m shares