Goehring & Rozencwajg Associates, LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 13, 2024), Goehring & Rozencwajg Associates, LLC reported 51 stock positions worth $461.5 million. Its top holding was Range Resources (RRC) at 9.2% of the portfolio, followed by Cameco (CCJ, 7.4%) and Antero Resources (AR, 4.6%). Compared with Q4 2023, it opened 1 new position, added to 48 and reduced 1. The biggest buy was a new position in Alamos Gold Class A (AGI) and the biggest sale Pioneer Natural Resources (PXD, shares −42%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001863154
- Portfolio Value
- $461.5M (Q1 2024)
- SEC Filing
- 0001085146-24-002403 ↗ filed May 13, 2024
Holdings Value
Holdings 51 stocks · $461.5M
| RRC Range Resources Corp. | 9.24% | 1,238,001 | $42.6M | Add +1.4% |
| CCJ Cameco Corp. | 7.37% | 784,816 | $34.0M | Add +5.0% |
| AR Antero Resources Corp. | 4.58% | 728,384 | $21.1M | Add +5.3% |
| AMR Alpha Metallurgical Resource | 4.43% | 61,747 | $20.4M | Add +8.0% |
| EQT Eqt Corp. | 4.15% | 519,093 | $19.2M | Add +5.3% |
| MTDR Matador Resources Co. | 3.54% | 244,772 | $16.3M | Add +6.4% |
| CONSOL ENERGY INC | 3.17% | 174,922 | $14.7M | Add +7.6% |
| PXD Pioneer Natural Resources Co. | 3.10% | 54,513 | $14.3M | Reduce -42.0% |
| IE Ivanhoe Electric Inc. / US | 3.04% | 1,431,839 | $14.0M | Add +5.2% |
| MOS The Mosaic Co. | 2.89% | 410,676 | $13.3M | Add +4.2% |
| CIVI Civitas Resources Inc. | 2.77% | 168,247 | $12.8M | Add +6.2% |
| FANG Diamondback Energy Inc. | 2.44% | 56,901 | $11.3M | Add +5.1% |
| UEC Uranium Energy Corp. | 2.26% | 1,547,530 | $10.4M | Add +4.9% |
| NTR Nutrien Ltd. | 2.18% | 185,683 | $10.1M | Add +3.6% |
| DO Diamond Offshore Drilling Inc. | 2.18% | 738,174 | $10.1M | Add +5.0% |
| CHX Championx Corp. | 2.13% | 275,041 | $9.8M | Add +5.0% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 2.09% | 116,052 | $9.7M | Add +5.0% |
| NXE Nexgen Energy Ltd. | 2.09% | 1,242,439 | $9.7M | Add +6.4% |
| FCX Freeport-McMoran Inc. | 2.04% | 200,485 | $9.4M | Add +5.3% |
| AGI Alamos Gold Inc. Class A | 2.02% | 633,363 | $9.3M | New |
| OII Oceaneering Intl Inc. | 1.91% | 377,587 | $8.8M | Add +5.3% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 1.86% | 156,511 | $8.6M | Add +5.1% |
| EXE Expand Energy Corp. filed as CHESAPEAKE ENERGY CORP | 1.84% | 95,805 | $8.5M | Add +5.2% |
| NE Noble Corp. PLC | 1.81% | 172,078 | $8.3M | Add +16.3% |
| SDRL Seadrill Limited | 1.74% | 159,254 | $8.0M | Add +6.4% |
| ARCH Arch Resources Inc. | 1.69% | 48,581 | $7.8M | Add +7.4% |
| LEU Centrus Energy Corp. Class A | 1.55% | 172,093 | $7.1M | Add +7.4% |
| DNN Denison Mines Corp. | 1.31% | 3,100,230 | $6.0M | Add +7.4% |
| BORR Borr Drilling Ltd. | 1.31% | 880,752 | $6.0M | Add +7.5% |
| UUUU Energy Fuels Inc. | 1.25% | 915,144 | $5.8M | Add +7.5% |
| SKE Skeena Resources Ltd. | 1.19% | 1,197,300 | $5.5M | Add +252.1% |
| ERO Ero Copper Corp. | 1.16% | 277,508 | $5.4M | Add +7.4% |
| EQX Equinox Gold Corp. | 1.14% | 871,844 | $5.3M | Add +7.5% |
| APA Apa Corp. | 1.12% | 152,080 | $5.2M | Add +7.4% |
| CRK Comstock Resources Inc. | 1.08% | 534,870 | $5.0M | Add +7.4% |
| CTVA Corteva Inc. | 1.00% | 80,185 | $4.6M | Add +7.4% |
| HBM Hudbay Minerals Inc. | 1.00% | 657,670 | $4.6M | Add +7.5% |
| EU Encore Energy Corp. | 0.93% | 977,648 | $4.3M | Add +8.0% |
| RIG Transocean Ltd. | 0.93% | 680,474 | $4.3M | Add +7.5% |
| ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW | 0.91% | 1,113,314 | $4.2M | Add +7.5% |
| URG Ur-Energy Inc. | 0.84% | 2,413,746 | $3.9M | Add +8.0% |
| IPI Intrepid Potash Inc. | 0.79% | 174,624 | $3.6M | Add +7.8% |
| VAL Valaris Ltd. | 0.78% | 47,538 | $3.6M | Add +7.5% |
| PAAS Pan American Silver Corp. | 0.72% | 220,591 | $3.3M | Add +7.5% |
| NOV Nov Inc. | 0.70% | 164,885 | $3.2M | Add +7.4% |
| VTLE Vital Energy Inc. | 0.56% | 48,843 | $2.6M | Add +7.9% |
| CMCL Caledonia Mining Corp. PLC | 0.44% | 185,917 | $2.0M | Add +9.3% |
| TFPM Triple Flag Precious Met | 0.29% | 91,671 | $1.3M | Add +7.0% |
| NG Novagold Resources Inc. | 0.19% | 291,868 | $876K | Add +8.3% |
| TMQ Trilogy Metals Inc. | 0.18% | 1,678,816 | $831K | Add +1.9% |
| TDW Tidewater Inc. | 0.08% | 3,914 | $360K | No change |
Portfolio Sells Q4 2023 → Q1 2024
| PXD Pioneer Natural Resources Co. | Reduce -42.0% | 3.10% | −2.01 |
Portfolio Buys Q4 2023 → Q1 2024
| AGI Alamos Gold Inc. Class A | New | 2.02% | +2.02 |
| SKE Skeena Resources Ltd. | Add +252.1% | 1.19% | +0.79 |
| AR Antero Resources Corp. | Add +5.3% | 4.58% | +0.78 |
| FANG Diamondback Energy Inc. | Add +5.1% | 2.44% | +0.41 |
| MTDR Matador Resources Co. | Add +6.4% | 3.54% | +0.38 |
| CHX Championx Corp. | Add +5.0% | 2.13% | +0.28 |
| RRC Range Resources Corp. | Add +1.4% | 9.24% | +0.25 |
| EQX Equinox Gold Corp. | Add +7.5% | 1.14% | +0.19 |
| HBM Hudbay Minerals Inc. | Add +7.5% | 1.00% | +0.18 |
| ERO Ero Copper Corp. | Add +7.4% | 1.16% | +0.17 |
| EXE Expand Energy Corp. | Add +5.2% | 1.84% | +0.15 |
| CIVI Civitas Resources Inc. | Add +6.2% | 2.77% | +0.15 |
| CTVA Corteva Inc. | Add +7.4% | 1.00% | +0.14 |
| NXE Nexgen Energy Ltd. | Add +6.4% | 2.09% | +0.12 |
| ORLA Orla Mining Ltd. | Add +7.5% | 0.91% | +0.10 |
| NE Noble Corp. PLC | Add +16.3% | 1.81% | +0.09 |
| FCX Freeport-McMoran Inc. | Add +5.3% | 2.04% | +0.08 |
| DNN Denison Mines Corp. | Add +7.4% | 1.31% | +0.08 |
| OII Oceaneering Intl Inc. | Add +5.3% | 1.91% | +0.07 |
| EU Encore Energy Corp. | Add +8.0% | 0.93% | +0.07 |
| VTLE Vital Energy Inc. | Add +7.9% | 0.56% | +0.06 |
| VAL Valaris Ltd. | Add +7.5% | 0.78% | +0.04 |
| SDRL Seadrill Limited | Add +6.4% | 1.74% | +0.03 |
| TFPM Triple Flag Precious Met | Add +7.0% | 0.29% | +0.01 |
| CRK Comstock Resources Inc. | Add +7.4% | 1.08% | +0.01 |
| TMQ Trilogy Metals Inc. | Add +1.9% | 0.18% | +0.01 |
| URG Ur-Energy Inc. | Add +8.0% | 0.84% | +0.01 |
| SLB SLB Ltd. | Add +5.1% | 1.86% | −0.01 |
| UEC Uranium Energy Corp. | Add +4.9% | 2.26% | −0.02 |
| DO Diamond Offshore Drilling Inc. | Add +5.0% | 2.18% | −0.03 |
| CF CF Industries Holdings Inc. | Add +5.0% | 2.09% | −0.03 |
| RIG Transocean Ltd. | Add +7.5% | 0.93% | −0.05 |
| NG Novagold Resources Inc. | Add +8.3% | 0.19% | −0.05 |
| NOV Nov Inc. | Add +7.4% | 0.70% | −0.05 |
| CMCL Caledonia Mining Corp. PLC | Add +9.3% | 0.44% | −0.06 |
| PAAS Pan American Silver Corp. | Add +7.5% | 0.72% | −0.09 |
| APA Apa Corp. | Add +7.4% | 1.12% | −0.10 |
| ARCH Arch Resources Inc. | Add +7.4% | 1.69% | −0.12 |
| IPI Intrepid Potash Inc. | Add +7.8% | 0.79% | −0.15 |
| BORR Borr Drilling Ltd. | Add +7.5% | 1.31% | −0.15 |
| UUUU Energy Fuels Inc. | Add +7.5% | 1.25% | −0.23 |
| AMR Alpha Metallurgical Resource | Add +8.0% | 4.43% | −0.25 |
| NTR Nutrien Ltd. | Add +3.6% | 2.18% | −0.26 |
| IE Ivanhoe Electric Inc. / US | Add +5.2% | 3.04% | −0.28 |
| CCJ Cameco Corp. | Add +5.0% | 7.37% | −0.42 |
| EQT Eqt Corp. | Add +5.3% | 4.15% | −0.45 |
| MOS The Mosaic Co. | Add +4.2% | 2.89% | −0.52 |
| LEU Centrus Energy Corp. Class A | Add +7.4% | 1.55% | −0.56 |
| CONSOL ENERGY INC | Add +7.6% | 3.17% | −0.78 |
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 |