2026 Q1 Portfolio Activity
In 2026 Q1, Goehring & Rozencwajg Associates, LLC maintained a portfolio of 47 distinct positions. The most significant new addition was SUNCOR ENERGY INC NEW, now representing 6.54% of the total fund value. They heavily accumulated shares in SLB LIMITED, increasing the position by 145.3%. Conversely, Goehring & Rozencwajg Associates, LLC completely exited their position in HUDBAY MINERALS INC.
Position History
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Goehring & Rozencwajg Associates, LLC
New York, NY
Hedge Fund / Alternative Asset Manager
AUM $1,861M
Total Positions
47
Quarter
2026 Q1
Top Holding
CNQ (7.4%)
Top 10 Concentration
57.5%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-47 of 47
Goehring & Rozencwajg Associates, LLC Full Holdings List — 2026 Q1
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
CNQ
CANADIAN NAT RE...
|
Energy | 7.41% | 6.38% |
#1
2
Prev: #3
|
7.5 |
—
|
925,440 | 48.6% |
P
S
|
2,827,853 | $137,877,092 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
VAL
VALARIS LTD
|
Energy | 6.95% | 5.30% |
#2
3
Prev: #5
|
6.8 |
—
|
257,281 | 24.2% |
P
S
|
1,319,351 | $129,349,172 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
RRC
RANGE RES CORP
|
Energy | 6.61% | 7.00% |
#3
2
Prev: #1
|
6.1 |
—
|
718,648 | 35.9% |
P
S
|
2,721,749 | $122,968,620 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
SU
SUNCOR ENERGY I...
|
Energy | 6.54% | — |
#4
Prev: #—
|
6.6 |
—
|
1,840,155 | — |
NEW
|
1,840,155 | $121,667,621 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
SLB
SLB LIMITED
|
Energy | 6.35% | 3.56% |
#5
7
Prev: #12
|
6.0 |
—
|
1,361,588 | 145.3% |
P
S
|
2,298,550 | $118,122,485 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
SDRL
SEADRILL LTD
|
Energy | 5.99% | 6.58% |
#6
4
Prev: #2
|
4.9 |
—
|
529,884 | 27.6% |
P
S
|
2,449,565 | $111,455,208 | 2023 Q2 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
CCJ
CAMECO CORP
|
Energy | 4.88% | 6.19% |
#7
3
Prev: #4
|
4.5 |
—
|
153,479 | 22.5% |
P
S
|
836,431 | $90,844,771 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
NE
NOBLE CORP PLC
|
Energy | 4.85% | 3.99% |
#8
3
Prev: #11
|
4.4 |
—
|
415,152 | 29.1% |
P
S
|
1,841,206 | $90,347,978 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
CNR
CORE NATURAL RE...
|
Energy | 3.99% | 2.65% |
#9
6
Prev: #15
|
4.6 |
—
|
405,505 | 134.0% |
P
S
|
708,225 | $74,172,404 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
EQT
EQT CORP
|
Energy | 3.96% | 4.49% |
#10
2
Prev: #8
|
4.1 |
—
|
313,493 | 37.1% |
P
S
|
1,159,203 | $73,771,679 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
AR
ANTERO RESOURCE...
|
Energy | 3.69% | 4.04% |
#11
1
Prev: #10
|
4.0 |
—
|
433,518 | 36.6% |
P
S
|
1,617,138 | $68,631,337 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
NTR
NUTRIEN LTD
|
Basic Materials | 3.33% | 5.05% |
#12
6
Prev: #6
|
1.8 |
—
|
-3,146 | -0.4% |
P
S
|
822,291 | $62,050,079 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
HCC
WARRIOR MET COA...
|
Basic Materials | 2.99% | — |
#13
Prev: #—
|
4.7 |
—
|
598,113 | — |
NEW
|
598,113 | $55,714,226 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
SBSW
SIBANYE STILLWA...
|
Basic Materials | 2.83% | 5.00% |
#14
7
Prev: #7
|
3.6 |
—
|
730,389 | 20.6% |
P
S
|
4,270,069 | $52,607,250 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
AMR
ALPHA METALLURG...
|
Basic Materials | 2.67% | 1.56% |
#15
6
Prev: #21
|
4.1 |
—
|
163,144 | 206.8% |
P
S
|
242,039 | $49,683,346 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
CHRD
CHORD ENERGY CO...
|
Energy | 2.17% | — |
#16
Prev: #—
|
4.4 |
—
|
283,461 | — |
NEW
|
283,461 | $40,302,485 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
PR
PERMIAN RESOURC...
|
Energy | 2.08% | 0.71% |
#17
17
Prev: #34
|
3.8 |
—
|
1,365,465 | 304.0% |
P
S
|
1,814,700 | $38,689,404 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
LEU
CENTRUS ENERGY ...
|
Energy | 1.88% | 4.12% |
#18
9
Prev: #9
|
2.8 |
—
|
30,944 | 18.1% |
P
S
|
202,058 | $35,075,248 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
AGI
ALAMOS GOLD INC
|
Basic Materials | 1.64% | 2.98% |
#19
6
Prev: #13
|
1.2 |
—
|
-94,064 | -12.0% |
P
S
|
686,587 | $30,505,060 | 2024 Q1 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
UEC
URANIUM ENERGY ...
|
Energy | 1.60% | 2.11% |
#20
4
Prev: #16
|
3.1 |
—
|
380,827 | 20.9% |
P
S
|
2,201,921 | $29,725,934 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
MTDR
MATADOR RES CO
|
Energy | 1.55% | 1.45% |
#21
2
Prev: #23
|
3.1 |
—
|
113,756 | 33.1% |
P
S
|
457,894 | $28,929,743 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
UUUU
ENERGY FUELS IN...
|
Energy | 1.46% | 1.77% |
#22
3
Prev: #19
|
3.1 |
—
|
255,494 | 20.8% |
P
S
|
1,484,902 | $27,099,462 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
OII
OCEANEERING INT...
|
Energy | 1.36% | 1.35% |
#23
2
Prev: #25
|
3.0 |
—
|
144,852 | 25.5% |
P
S
|
713,586 | $25,310,895 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
IE
IVANHOE ELECTRI...
|
Basic Materials | 1.34% | 2.83% |
#24
10
Prev: #14
|
2.5 |
—
|
327,112 | 18.3% |
P
S
|
2,115,009 | $24,999,406 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
EXE
EXPAND ENERGY C...
|
Energy | 1.33% | 1.81% |
#25
7
Prev: #18
|
3.0 |
—
|
60,492 | 36.6% |
P
S
|
225,860 | $24,794,911 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
MOS
MOSAIC CO
|
Basic Materials | 1.26% | 1.08% |
#26
3
Prev: #29
|
3.5 |
—
|
471,259 | 104.5% |
P
S
|
922,305 | $23,518,778 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
FANG
DIAMONDBACK ENE...
|
Energy | 1.21% | 1.27% |
#27
Prev: #27
|
3.0 |
—
|
28,246 | 33.1% |
P
S
|
113,489 | $22,446,989 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
NXE
NEXGEN ENERGY L...
|
Energy | 1.13% | 1.38% |
#28
4
Prev: #24
|
2.5 |
—
|
292,004 | 19.2% |
P
S
|
1,810,943 | $21,006,939 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
EQX
EQUINOX GOLD CO...
|
Basic Materials | 1.00% | 2.04% |
#29
12
Prev: #17
|
0.9 |
—
|
-181,508 | -12.4% |
P
S
|
1,283,253 | $18,525,836 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
CRK
COMSTOCK RES IN...
|
Energy | 0.98% | 1.47% |
#30
8
Prev: #22
|
2.9 |
—
|
222,569 | 34.8% |
P
S
|
861,858 | $18,167,967 | 2023 Q2 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
DNN
DENISON MINES C...
|
Energy | 0.90% | 1.04% |
#31
1
Prev: #30
|
2.4 |
—
|
767,863 | 19.4% |
P
S
|
4,720,615 | $16,663,771 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
SM
SM ENERGY COMPA...
|
Energy | 0.82% | — |
#32
Prev: #—
|
3.8 |
—
|
487,730 | — |
NEW
|
487,730 | $15,207,421 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
BORR
BORR DRILLING L...
|
Energy | 0.66% | 0.65% |
#33
3
Prev: #36
|
2.8 |
—
|
496,302 | 30.6% |
P
S
|
2,119,465 | $12,229,313 | 2023 Q2 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
IPI
INTREPID POTASH...
|
Basic Materials | 0.61% | 0.60% |
#34
4
Prev: #38
|
2.7 |
—
|
47,781 | 21.8% |
P
S
|
267,097 | $11,423,739 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
FCX
FREEPORT MCMORA...
|
Basic Materials | 0.39% | 1.20% |
#35
7
Prev: #28
|
0.2 |
—
|
-114,332 | -48.1% |
P
S
|
123,252 | $7,244,753 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
URG
UR-ENERGY INC
|
Energy | 0.34% | 0.48% |
#36
3
Prev: #39
|
2.6 |
—
|
785,173 | 22.6% |
P
S
|
4,253,094 | $6,337,110 | 2023 Q2 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
TMQ
TRILOGY METALS ...
|
Basic Materials | 0.33% | 0.60% |
#37
Prev: #37
|
2.6 |
—
|
319,949 | 22.7% |
P
S
|
1,728,153 | $6,221,454 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
NG
NOVAGOLD RESOUR...
|
Basic Materials | 0.33% | 0.74% |
#38
5
Prev: #33
|
0.6 |
—
|
-107,085 | -13.4% |
P
S
|
692,741 | $6,220,814 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
CMCL
CALEDONIA MNG C...
|
Basic Materials | 0.19% | 0.43% |
#39
1
Prev: #40
|
0.6 |
—
|
-12,040 | -7.3% |
P
S
|
153,264 | $3,462,234 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
EU
ENCORE ENERGY C...
|
Energy | 0.14% | 0.30% |
#40
1
Prev: #41
|
2.1 |
—
|
237,469 | 19.3% |
P
S
|
1,464,724 | $2,636,503 | 2023 Q2 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
ORLA
ORLA MNG LTD NE...
|
Basic Materials | 0.14% | 1.04% |
#41
10
Prev: #31
|
0.1 |
—
|
-616,365 | -79.2% |
P
S
|
161,584 | $2,597,466 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
TFPM
TRIPLE FLAG PRE...
|
Basic Materials | 0.11% | 0.22% |
#42
Prev: #42
|
0.5 |
—
|
-7,751 | -11.4% |
P
S
|
60,271 | $2,091,901 | 2023 Q1 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
TDW
TIDEWATER INC N...
|
Energy | 0.02% | — |
#43
Prev: #—
|
3.5 |
—
|
3,914 | — |
NEW
|
3,914 | $327,015 | 2023 Q2 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
CIVI
CIVITAS RESOURC...
|
Unknown | 0.00% | 0.69% |
Sold All 😨
(Was: #35) |
0.0 |
—
|
-256,605 | -100.0% |
CLOSED
|
— | $— | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
PAAS
PAN AMERN SILVE...
|
Basic Materials | 0.00% | 0.90% |
Sold All 😨
(Was: #32) |
0.0 |
—
|
-175,080 | -100.0% |
CLOSED
|
— | $— | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
SKE
SKEENA RES LTD ...
|
Basic Materials | 0.00% | 1.32% |
Sold All 😨
(Was: #26) |
0.0 |
—
|
-562,975 | -100.0% |
CLOSED
|
— | $— | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-05 | |||
|
HBM
HUDBAY MINERALS...
|
Basic Materials | 0.00% | 1.62% |
Sold All 😨
(Was: #20) |
0.0 |
—
|
-824,951 | -100.0% |
CLOSED
|
— | $— | 2023 Q2 | 13F Filing | 2026-03-31 | 2026-05-05 |
Showing 1-47 of 47 holdings