Goehring & Rozencwajg Associates, LLC
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 5, 2026), Goehring & Rozencwajg Associates, LLC reported 41 stock positions worth $1.7 billion. Its top holding was Canadian Natural Resources (CNQ) at 6.9% of the portfolio, followed by SLB (SLB, 6.6%) and Range Resources (RRC, 6.2%). Compared with Q1 2026, it sold out of 2, added to 39 and reduced 1. The biggest buy was Alpha Metallurgical Resource (AMR, shares +133%) and the biggest sale an exit from Alamos Gold Class A (AGI).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001863154
- Portfolio Value
- $1.7B (Q2 2026)
- SEC Filing
- 0001863154-26-000004 ↗ filed Aug 5, 2026
Holdings Value
Holdings 41 stocks · $1.7B
| CNQ Canadian Natural Resources | 6.92% | 3,043,255 | $120.3M | Add +7.6% |
| SLB SLB Ltd. filed as SLB LIMITED | 6.56% | 2,454,873 | $114.1M | Add +6.8% |
| RRC Range Resources Corp. | 6.25% | 2,920,613 | $108.6M | Add +7.3% |
| SU Suncor Energy Inc. | 6.10% | 1,974,700 | $106.1M | Add +7.3% |
| VAL Valaris Ltd. | 5.90% | 1,413,542 | $102.6M | Add +7.1% |
| SDRL Seadrill Limited | 5.74% | 2,636,666 | $99.7M | Add +7.6% |
| AMR Alpha Metallurgical Resource | 5.36% | 564,714 | $93.1M | Add +133.3% |
| NTR Nutrien Ltd. | 5.27% | 1,455,019 | $91.6M | Add +77.0% |
| CCJ Cameco Corp. | 5.23% | 893,328 | $91.0M | Add +6.8% |
| CNR Core Natural Resources Inc. | 5.07% | 1,100,977 | $88.1M | Add +55.5% |
| HCC Warrior Met Coal Inc. | 4.44% | 951,045 | $77.2M | Add +59.0% |
| NE Noble Corp. PLC | 4.26% | 1,987,601 | $74.1M | Add +8.0% |
| EQT Eqt Corp. | 3.79% | 1,240,409 | $66.0M | Add +7.0% |
| AR Antero Resources Corp. | 3.50% | 1,731,731 | $60.9M | Add +7.1% |
| SBSW Sibanye-Stillwater Ltd.-ADR | 2.24% | 4,580,794 | $38.9M | Add +7.3% |
| LEU Centrus Energy Corp. Class A | 2.09% | 216,750 | $36.4M | Add +7.3% |
| PR Permian Resources Corp. Class A | 2.03% | 1,914,400 | $35.2M | Add +5.5% |
| CHRD Chord Energy Corp. | 2.02% | 306,981 | $35.1M | Add +8.3% |
| OII Oceaneering Intl Inc. | 1.81% | 775,476 | $31.4M | Add +8.7% |
| UEC Uranium Energy Corp. | 1.45% | 2,357,786 | $25.1M | Add +7.1% |
| MOS The Mosaic Co. | 1.44% | 1,178,956 | $25.0M | Add +27.8% |
| MTDR Matador Resources Co. | 1.38% | 482,216 | $24.0M | Add +5.3% |
| UUUU Energy Fuels Inc. | 1.33% | 1,590,170 | $23.1M | Add +7.1% |
| IE Ivanhoe Electric Inc. / US | 1.25% | 2,267,908 | $21.8M | Add +7.2% |
| EXE Expand Energy Corp. | 1.25% | 237,837 | $21.7M | Add +5.3% |
| FANG Diamondback Energy Inc. | 1.21% | 119,576 | $21.0M | Add +5.4% |
| NXE Nexgen Energy Ltd. | 1.06% | 1,964,702 | $18.4M | Add +8.5% |
| DNN Denison Mines Corp. | 0.90% | 5,117,155 | $15.7M | Add +8.4% |
| CRK Comstock Resources Inc. | 0.78% | 907,267 | $13.5M | Add +5.3% |
| SM SM Energy Co. | 0.77% | 513,406 | $13.4M | Add +5.3% |
| IPI Intrepid Potash Inc. | 0.56% | 297,866 | $9.8M | Add +11.5% |
| BORR Borr Drilling Ltd. | 0.53% | 2,238,675 | $9.2M | Add +5.6% |
| TMQ Trilogy Metals Inc. | 0.36% | 1,775,530 | $6.2M | Add +2.7% |
| URG Ur-Energy Inc. | 0.34% | 4,384,124 | $6.0M | Add +3.1% |
| NG Novagold Resources Inc. | 0.24% | 710,721 | $4.2M | Add +2.6% |
| CMCL Caledonia Mining Corp. PLC | 0.17% | 156,906 | $3.0M | Add +2.4% |
| EU Encore Energy Corp. | 0.11% | 1,508,483 | $2.0M | Add +3.0% |
| TFPM Triple Flag Precious Met | 0.11% | 61,584 | $1.8M | Add +2.2% |
| ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW | 0.09% | 165,196 | $1.6M | Add +2.2% |
| FCX Freeport-McMoran Inc. | 0.08% | 21,912 | $1.4M | Reduce -82.2% |
| TDW Tidewater Inc. | 0.01% | 3,914 | $261K | No change |
Portfolio Sells Q1 2026 → Q2 2026
Portfolio Buys Q1 2026 → Q2 2026
| AMR Alpha Metallurgical Resource | Add +133.3% | 5.36% | +2.69 |
| NTR Nutrien Ltd. | Add +77.0% | 5.27% | +1.93 |
| HCC Warrior Met Coal Inc. | Add +59.0% | 4.44% | +1.45 |
| CNR Core Natural Resources Inc. | Add +55.5% | 5.07% | +1.08 |
| OII Oceaneering Intl Inc. | Add +8.7% | 1.81% | +0.45 |
| CCJ Cameco Corp. | Add +6.8% | 5.23% | +0.35 |
| SLB SLB Ltd. | Add +6.8% | 6.56% | +0.22 |
| LEU Centrus Energy Corp. Class A | Add +7.3% | 2.09% | +0.21 |
| MOS The Mosaic Co. | Add +27.8% | 1.44% | +0.17 |
| TMQ Trilogy Metals Inc. | Add +2.7% | 0.36% | +0.02 |
| DNN Denison Mines Corp. | Add +8.4% | 0.90% | +0.01 |
| FANG Diamondback Energy Inc. | Add +5.4% | 1.21% | +0.00 |
| URG Ur-Energy Inc. | Add +3.1% | 0.34% | +0.00 |
| TFPM Triple Flag Precious Met | Add +2.2% | 0.11% | −0.01 |
| CMCL Caledonia Mining Corp. PLC | Add +2.4% | 0.17% | −0.01 |
| EU Encore Energy Corp. | Add +3.0% | 0.11% | −0.03 |
| SM SM Energy Co. | Add +5.3% | 0.77% | −0.05 |
| ORLA Orla Mining Ltd. | Add +2.2% | 0.09% | −0.05 |
| PR Permian Resources Corp. Class A | Add +5.5% | 2.03% | −0.05 |
| IPI Intrepid Potash Inc. | Add +11.5% | 0.56% | −0.05 |
| NXE Nexgen Energy Ltd. | Add +8.5% | 1.06% | −0.07 |
| EXE Expand Energy Corp. | Add +5.3% | 1.25% | −0.09 |
| IE Ivanhoe Electric Inc. / US | Add +7.2% | 1.25% | −0.09 |
| NG Novagold Resources Inc. | Add +2.6% | 0.24% | −0.09 |
| BORR Borr Drilling Ltd. | Add +5.6% | 0.53% | −0.13 |
| UUUU Energy Fuels Inc. | Add +7.1% | 1.33% | −0.13 |
| CHRD Chord Energy Corp. | Add +8.3% | 2.02% | −0.15 |
| UEC Uranium Energy Corp. | Add +7.1% | 1.45% | −0.15 |
| EQT Eqt Corp. | Add +7.0% | 3.79% | −0.17 |
| MTDR Matador Resources Co. | Add +5.3% | 1.38% | −0.17 |
| AR Antero Resources Corp. | Add +7.1% | 3.50% | −0.19 |
| CRK Comstock Resources Inc. | Add +5.3% | 0.78% | −0.20 |
| SDRL Seadrill Limited | Add +7.6% | 5.74% | −0.25 |
| RRC Range Resources Corp. | Add +7.3% | 6.25% | −0.36 |
| SU Suncor Energy Inc. | Add +7.3% | 6.10% | −0.43 |
| CNQ Canadian Natural Resources | Add +7.6% | 6.92% | −0.49 |
| SBSW Sibanye-Stillwater Ltd.-ADR | Add +7.3% | 2.24% | −0.59 |
| NE Noble Corp. PLC | Add +8.0% | 4.26% | −0.59 |
| VAL Valaris Ltd. | Add +7.1% | 5.90% | −1.05 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 41 | $1.7B | CNQ, SLB, RRC, SU, VAL |
| Q1 2026 | 43 | $1.9B | CNQ, VAL, RRC, SU, SLB |
| Q4 2025 | 43 | $1.0B | RRC, SDRL, CNQ, CCJ, VAL |
| Q3 2025 | 42 | $830.9M | CCJ, RRC, SDRL, LEU, NTR |
| Q2 2025 | 41 | $654.0M | RRC, CCJ, NTR, SDRL, EQT |
| Q1 2025 | 42 | $551.7M | RRC, NTR, AR, EQT, AGI |
| Q4 2024 | 44 | $486.8M | RRC, CCJ, AR, EQT, CONSOL ENERGY INC |
| Q3 2024 | 44 | $490.6M | RRC, CCJ, AGI, AR, EQT |
| Q2 2024 | 48 | $503.7M | RRC, CCJ, AR, SDRL, EQT |
| Q1 2024 | 51 | $461.5M | RRC, CCJ, AR, AMR, EQT |