Goehring & Rozencwajg Associates, LLC
Sector Allocation
- Energy75.7%$1.3B
- Materials24.2%$421.1M
- Financials0.1%$1.8M
- Industrials0.0%$260,790
AUM History
13fpro.ai/research/fund/goehring-and-rozencwajg-associates-llc-1863154
Conviction and streaks
Stable · top 10 = 58.4%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
CNQ
$120.3MSLB
$114.1MRRC
$108.6MSU
$106.1MVAL
$102.6MSDRL
$99.7MAMR
$93.1MNTR
$91.6MCCJ
$91.0MCNR
$88.1MHCC
$77.2MNE
$74.1MEQT
$66.0MAR
$60.9MSBSW
$38.9MLEU
$36.4MPR
$35.2MCHRD
$35.1MOII
$31.4MUEC
$25.1M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/goehring-and-rozencwajg-associates-llc-1863154
Goehring & Rozencwajg Associates, LLC 13F holdings — Q2 2026
$1.7B portfolio (-6.6% QoQ) · 41 holdings · Q2 2026 13F · top 10 are 58% of the stock portfolio
$120.3M
6.9% of stocks
+8%This quarter+23.1%Since filed7 qtrsHeld$114.1M
6.6% of stocks
+7%This quarter+6.3%Since filed10+ qtrsHeldAIQuality56.9#1,117Est. buyEstimated buy price is Pro: unlock with a free trialAdded 3 qtrs in a row$108.6M
6.3% of stocks
+7%This quarter+40.4%Since filed10+ qtrsHeld$106.1M
6.1% of stocks
+7%This quarter+26.5%Since filed3 qtrsHeld$102.6M
5.9% of stocks
+7%This quarter+28.9%Since filed10+ qtrsHeld$99.7M
5.7% of stocks
+8%This quarter+25.2%Since filed10+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 3 qtrs in a row$93.1M
5.4% of stocks
+133%This quarter+8.8%Since filed10+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 3 qtrs in a row$91.6M
5.3% of stocks
+77%This quarter+1.9%Since filed10+ qtrsHeld$91.0M
5.2% of stocks
+7%This quarter-16.1%Since filed10+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 3 qtrs in a row$88.1M
5.1% of stocks
+55%This quarter+5.7%Since filed6 qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 3 qtrs in a row
All holdings — Goehring & Rozencwajg Associates, LLC (Q2 2026)
41 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | WARRIOR MET COAL, INC. | Energy | $77.2M | 4.4% | 951K | +59% | 2 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | Noble Corp plc | Energy | $74.1M | 4.3% | 1.99M | +8% | 10+ qtrsAdded 4 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | EQT Corp | Energy | $66.0M | 3.8% | 1.24M | +7% | 10+ qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | ANTERO RESOURCES Corp | Energy | $60.9M | 3.5% | 1.73M | +7% | 10+ qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | Sibanye Stillwater Ltdadr | Materials | $38.9M | 2.2% | 4.58M | +7% | 7 qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | CENTRUS ENERGY CORP | Materials | $36.4M | 2.1% | 217K | +7% | 10+ qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | Permian Resources Corp | Energy | $35.2M | 2.0% | 1.91M | +5% | 3 qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | Chord Energy Corp | Energy | $35.1M | 2.0% | 307K | +8% | 2 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | OCEANEERING INTERNATIONAL INC | Energy | $31.4M | 1.8% | 775K | +9% | 10+ qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | URANIUM ENERGY CORP | Materials | $25.1M | 1.4% | 2.36M | +7% | 10+ qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | MOSAIC CO | Materials | $25.0M | 1.4% | 1.18M | +28% | 10+ qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | Matador Resources Co | Energy | $24.0M | 1.4% | 482K | +5% | 10+ qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | ENERGY FUELS INC | Materials | $23.1M | 1.3% | 1.59M | +7% | 10+ qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | Ivanhoe Electric Inc. | Materials | $21.8M | 1.3% | 2.27M | +7% | 10+ qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | EXPAND ENERGY Corp | Energy | $21.7M | 1.3% | 238K | +5% | 10+ qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $FANG | Diamondback Energy, Inc. | Energy | $21.0M | 1.2% | 120K | +5% | |||
| 27 | $NXE | NexGen Energy Ltd. | Materials | $18.4M | 1.1% | 1.96M | +8% | |||
| 28 | $DNN | DENISON MINES CORP. | Materials | $15.7M | 0.9% | 5.12M | +8% | |||
| 29 | $CRK | COMSTOCK RESOURCES INC | Energy | $13.5M | 0.8% | 907K | +5% | |||
| 30 | $SM | SM Energy Co | Energy | $13.4M | 0.8% | 513K | +5% | |||
| 31 | $IPI | Intrepid Potash, Inc. | Materials | $9.8M | 0.6% | 298K | +12% | |||
| 32 | $BORR | Borr Drilling Ltd | Energy | $9.2M | 0.5% | 2.24M | +6% | |||
| 33 | $TMQ | Trilogy Metals Inc. | Materials | $6.2M | 0.4% | 1.78M | +3% | |||
| 34 | $URG | UR-ENERGY INC | Materials | $6.0M | 0.3% | 4.38M | +3% | |||
| 35 | $NG | NOVAGOLD RESOURCES INC | Materials | $4.2M | 0.2% | 711K | +3% | |||
| 36 | $CMCL | Caledonia Mining Corp Plc | Materials | $3.0M | 0.2% | 157K | +2% | |||
| 37 | $EU | enCore Energy Corp. | Materials | $2.0M | 0.1% | 1.51M | +3% | |||
| 38 | $TFPM | Triple Flag Precious Metals Corp. | Financials | $1.8M | 0.1% | 62K | +2% | |||
| 39 | $ORLA | Orla Mining Ltd. | Materials | $1.6M | 0.1% | 165K | +2% | |||
| 40 | $FCX | FREEPORT-MCMORAN INC | Materials | $1.4M | 0.1% | 22K | -82% | |||
| 41 | $TDW | TIDEWATER INC | Industrials | $261K | 0.0% | 3,914 | — |
What changed in Q2 2026
Against the previous quarter's 13F: 0 new, 39 added to, 1 trimmed, 2 sold out. Share-count changes; largest moves by dollar size first.
New positions (0)
No new positions this quarter.
Added to (39)
now $93.1M · held 10+ qtrs, 3 adds in a row
now $91.6M · held 10+ qtrs
now $88.1M · held 6 qtrs, 3 adds in a row
now $77.2M · held 2 qtrs, 2 adds in a row
now $120.3M · held 7 qtrs, 7 adds in a row
now $108.6M · held 10+ qtrs, 3 adds in a row
+33 more in the Excel export
Trimmed (1)
$FCXFREEPORT-MCMORAN INC-82%
now $1.4M · held 10+ qtrs, 2 trims in a row
Holdings by quarter
Every 13F Goehring & Rozencwajg Associates, LLC has filed, 14 earlier quarters. Pick one to see what it held then.
Is it too late to follow Goehring & Rozencwajg Associates?
Q2 2026 13F filed with the SEC on Aug 5, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of Goehring & Rozencwajg Associates's top 20 holdings: 60/100 (our AI quality score, weighted by position size; 12 of the 20 are scored)
Top 10 since filing
+16.0%
Value-weighted move of the 10 largest stock positions
Turnover
3%
Last quarter; 14% over the last 4
Top 10 weight
58%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
85%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
Goehring & Rozencwajg Associates, LLC disclosed 41 positions worth $1.7B in its Form 13F-HR for Q2 2026, led by $CNQ (CANADIAN NATURAL RESOURCES Ltd) at 6.9% of the equity portfolio, followed by $SLB and $RRC. During the quarter the fund opened 0 new positions and exited 2 and a full exit from $AGI. The portfolio is most concentrated in Energy (75.7% of disclosed assets). All figures are sourced directly from Goehring & Rozencwajg Associates, LLC’s Form 13F-HR filing with the SEC under CIK 1863154.
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AI-Powered Hedge Fund Analysis: Goehring & Rozencwajg Associates, LLC
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