Goehring & Rozencwajg Associates, LLC
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 12, 2024), Goehring & Rozencwajg Associates, LLC reported 48 stock positions worth $503.7 million. Its top holding was Range Resources (RRC) at 9.1% of the portfolio, followed by Cameco (CCJ, 7.0%) and Antero Resources (AR, 5.2%). Compared with Q1 2024, it sold out of 3, added to 45 and reduced 2. The biggest buy was Seadrill (SDRL, shares +190%) and the biggest sale an exit from Pioneer Natural Resources (PXD).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001863154
- Portfolio Value
- $503.7M (Q2 2024)
- SEC Filing
- 0001085146-24-003719 ↗ filed Aug 12, 2024
Holdings Value
Holdings 48 stocks · $503.7M
| RRC Range Resources Corp. | 9.15% | 1,374,201 | $46.1M | Add +11.0% |
| CCJ Cameco Corp. | 7.00% | 716,967 | $35.3M | Reduce -8.7% |
| AR Antero Resources Corp. | 5.24% | 808,284 | $26.4M | Add +11.0% |
| SDRL Seadrill Limited | 4.73% | 462,354 | $23.8M | Add +190.3% |
| EQT Eqt Corp. | 4.23% | 576,293 | $21.3M | Add +11.0% |
| CONSOL ENERGY INC | 4.01% | 197,822 | $20.2M | Add +13.1% |
| AMR Alpha Metallurgical Resource | 3.89% | 69,847 | $19.6M | Add +13.1% |
| AGI Alamos Gold Inc. Class A | 3.74% | 1,201,069 | $18.8M | Add +89.6% |
| MTDR Matador Resources Co. | 3.22% | 272,072 | $16.2M | Add +11.2% |
| IE Ivanhoe Electric Inc. / US | 3.04% | 1,631,239 | $15.3M | Add +13.9% |
| DO Diamond Offshore Drilling Inc. | 2.65% | 862,274 | $13.4M | Add +16.8% |
| FANG Diamondback Energy Inc. | 2.65% | 66,701 | $13.4M | Add +17.2% |
| MOS The Mosaic Co. | 2.59% | 451,876 | $13.1M | Add +10.0% |
| CIVI Civitas Resources Inc. | 2.55% | 186,447 | $12.9M | Add +10.8% |
| FCX Freeport-McMoran Inc. | 2.14% | 222,185 | $10.8M | Add +10.8% |
| OII Oceaneering Intl Inc. | 2.10% | 447,887 | $10.6M | Add +18.6% |
| NTR Nutrien Ltd. | 2.05% | 203,183 | $10.3M | Add +9.4% |
| UEC Uranium Energy Corp. | 2.04% | 1,713,030 | $10.3M | Add +10.7% |
| NXE Nexgen Energy Ltd. | 1.91% | 1,377,139 | $9.6M | Add +10.8% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 1.89% | 128,652 | $9.5M | Add +10.9% |
| EXE Expand Energy Corp. filed as CHESAPEAKE ENERGY CORP | 1.73% | 106,205 | $8.7M | Add +10.9% |
| LEU Centrus Energy Corp. Class A | 1.73% | 204,093 | $8.7M | Add +18.6% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 1.67% | 178,111 | $8.4M | Add +13.8% |
| ARCH Arch Resources Inc. | 1.67% | 55,181 | $8.4M | Add +13.6% |
| SKE Skeena Resources Ltd. | 1.57% | 1,470,600 | $7.9M | Add +22.8% |
| EQX Equinox Gold Corp. | 1.55% | 1,500,244 | $7.8M | Add +72.1% |
| NE Noble Corp. PLC | 1.49% | 167,753 | $7.5M | Reduce -2.5% |
| ERO Ero Copper Corp. | 1.44% | 340,008 | $7.3M | Add +22.5% |
| DNN Denison Mines Corp. | 1.41% | 3,579,830 | $7.1M | Add +15.5% |
| CRK Comstock Resources Inc. | 1.41% | 683,570 | $7.1M | Add +27.8% |
| HBM Hudbay Minerals Inc. | 1.38% | 767,569 | $6.9M | Add +16.7% |
| UUUU Energy Fuels Inc. | 1.32% | 1,095,044 | $6.6M | Add +19.7% |
| BORR Borr Drilling Ltd. | 1.25% | 975,052 | $6.3M | Add +10.7% |
| PAAS Pan American Silver Corp. | 1.05% | 266,491 | $5.3M | Add +20.8% |
| ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW | 0.99% | 1,295,214 | $5.0M | Add +16.3% |
| CTVA Corteva Inc. | 0.95% | 88,785 | $4.8M | Add +10.7% |
| IPI Intrepid Potash Inc. | 0.90% | 193,824 | $4.5M | Add +11.0% |
| RIG Transocean Ltd. | 0.86% | 807,774 | $4.3M | Add +18.7% |
| EU Encore Energy Corp. | 0.85% | 1,082,548 | $4.3M | Add +10.7% |
| URG Ur-Energy Inc. | 0.81% | 2,931,546 | $4.1M | Add +21.4% |
| VAL Valaris Ltd. | 0.78% | 52,438 | $3.9M | Add +10.3% |
| NOV Nov Inc. | 0.69% | 182,185 | $3.5M | Add +10.5% |
| VTLE Vital Energy Inc. | 0.48% | 54,443 | $2.4M | Add +11.5% |
| CMCL Caledonia Mining Corp. PLC | 0.40% | 209,717 | $2.0M | Add +12.8% |
| TFPM Triple Flag Precious Met | 0.31% | 100,771 | $1.6M | Add +9.9% |
| NG Novagold Resources Inc. | 0.22% | 325,768 | $1.1M | Add +11.6% |
| TMQ Trilogy Metals Inc. | 0.17% | 1,693,116 | $866K | Add +0.8% |
| TDW Tidewater Inc. | 0.07% | 3,914 | $373K | No change |
Portfolio Sells Q1 2024 → Q2 2024
Portfolio Buys Q1 2024 → Q2 2024
| SDRL Seadrill Limited | Add +190.3% | 4.73% | +2.99 |
| AGI Alamos Gold Inc. Class A | Add +89.6% | 3.74% | +1.72 |
| CONSOL ENERGY INC | Add +13.1% | 4.01% | +0.83 |
| AR Antero Resources Corp. | Add +11.0% | 5.24% | +0.66 |
| DO Diamond Offshore Drilling Inc. | Add +16.8% | 2.65% | +0.47 |
| EQX Equinox Gold Corp. | Add +72.1% | 1.55% | +0.41 |
| HBM Hudbay Minerals Inc. | Add +16.7% | 1.38% | +0.38 |
| SKE Skeena Resources Ltd. | Add +22.8% | 1.57% | +0.37 |
| CRK Comstock Resources Inc. | Add +27.8% | 1.41% | +0.33 |
| PAAS Pan American Silver Corp. | Add +20.8% | 1.05% | +0.33 |
| ERO Ero Copper Corp. | Add +22.5% | 1.44% | +0.28 |
| FANG Diamondback Energy Inc. | Add +17.2% | 2.65% | +0.21 |
| OII Oceaneering Intl Inc. | Add +18.6% | 2.10% | +0.19 |
| LEU Centrus Energy Corp. Class A | Add +18.6% | 1.73% | +0.18 |
| IPI Intrepid Potash Inc. | Add +11.0% | 0.90% | +0.11 |
| FCX Freeport-McMoran Inc. | Add +10.8% | 2.14% | +0.11 |
| DNN Denison Mines Corp. | Add +15.5% | 1.41% | +0.10 |
| EQT Eqt Corp. | Add +11.0% | 4.23% | +0.08 |
| ORLA Orla Mining Ltd. | Add +16.3% | 0.99% | +0.07 |
| UUUU Energy Fuels Inc. | Add +19.7% | 1.32% | +0.07 |
| NG Novagold Resources Inc. | Add +11.6% | 0.22% | +0.03 |
| TFPM Triple Flag Precious Met | Add +9.9% | 0.31% | +0.02 |
| VAL Valaris Ltd. | Add +10.3% | 0.78% | +0.00 |
| IE Ivanhoe Electric Inc. / US | Add +13.9% | 3.04% | −0.00 |
| TMQ Trilogy Metals Inc. | Add +0.8% | 0.17% | −0.01 |
| NOV Nov Inc. | Add +10.5% | 0.69% | −0.01 |
| URG Ur-Energy Inc. | Add +21.4% | 0.81% | −0.02 |
| ARCH Arch Resources Inc. | Add +13.6% | 1.67% | −0.02 |
| CMCL Caledonia Mining Corp. PLC | Add +12.8% | 0.40% | −0.04 |
| CTVA Corteva Inc. | Add +10.7% | 0.95% | −0.05 |
| BORR Borr Drilling Ltd. | Add +10.7% | 1.25% | −0.06 |
| RIG Transocean Ltd. | Add +18.7% | 0.86% | −0.07 |
| VTLE Vital Energy Inc. | Add +11.5% | 0.48% | −0.07 |
| EU Encore Energy Corp. | Add +10.7% | 0.85% | −0.08 |
| RRC Range Resources Corp. | Add +11.0% | 9.15% | −0.09 |
| EXE Expand Energy Corp. | Add +10.9% | 1.73% | −0.11 |
| NTR Nutrien Ltd. | Add +9.4% | 2.05% | −0.13 |
| NXE Nexgen Energy Ltd. | Add +10.8% | 1.91% | −0.18 |
| SLB SLB Ltd. | Add +13.8% | 1.67% | −0.19 |
| CF CF Industries Holdings Inc. | Add +10.9% | 1.89% | −0.20 |
| CIVI Civitas Resources Inc. | Add +10.8% | 2.55% | −0.21 |
| UEC Uranium Energy Corp. | Add +10.7% | 2.04% | −0.22 |
| MOS The Mosaic Co. | Add +10.0% | 2.59% | −0.30 |
| MTDR Matador Resources Co. | Add +11.2% | 3.22% | −0.32 |
| AMR Alpha Metallurgical Resource | Add +13.1% | 3.89% | −0.54 |
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 |