Goehring & Rozencwajg Associates portfolio
Concentrated managerInvestment firmPortfolio as of Jun 30, 2026 (Q2 2026) · filed with the SEC on Aug 5, 2026 · data updated on Nov 5, 2026 · Q2 2026 13F (filing) ↗ · all its 13F filings ↗
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Goehring & Rozencwajg Associates reported a $1.7 bn portfolio of 41 positions to the SEC as of the end of Q2 2026. Its largest positions are CNQ, SLB, RRC. During the quarter it exited Alamos Gold and Equinox Gold.
Sections with a free account
What changed this quarter
42 positions with a change (39 added to, 1 trimmed, 2 sold). 6 are listed here: those of 0.5 points of the portfolio or more (up to 12).
- Alpha Metallurgical Resources+133%more sharesIncreased2.7% → 5.4%
- Nutrien+77%more sharesIncreased3.3% → 5.3%
- Core Natural Resources+55%more sharesIncreased4.0% → 5.1%
- Alamos Gold−1.6 ppof portfolioSold out1.6% → —
- Warrior Met Coal+59%more sharesIncreased3.0% → 4.4%
- Equinox Gold−1.0 ppof portfolioSold out1.0% → —
The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight: what it bought or sold, excluding price effects.
Top holdings
- Canadian Natural ResourcesCNQ6.9%
- SLBSLB6.6%
- Range ResourcesRRC6.2%
- Suncor EnergySU6.1%
- ValarisVAL5.9%
- SeadrillSDRL5.7%
- Alpha Metallurgical ResourcesAMR5.4%
- NutrienNTR5.3%
- CamecoCCJ5.2%
- Core Natural ResourcesCNR5.1%
- Warrior Met CoalHCC4.4%
- NobleNE4.3%
- EQTEQT3.8%
- Antero ResourcesAR3.5%
- Sibanye StillwaterSBSW2.2%
“Since”: first quarter of the current run, unbroken until today. In the details, prices are the quarter-end prices of the quarters in which it added shares, per the 13F. The manager may have bought at any price within each quarter; the SEC only publishes the value at quarter end.
Portfolio by sector
- ● Energy 74%
- ● Materials 26%
How its portfolio changed (8 quarters)
Q2 2026: 41
Q2 2026: 58%
Q2 2026: 8.2%
Traded turnover: the weight it bought plus the weight it sold in the quarter, divided by two, excluding price moves. The plain “turnover” in the header does include that effect. With a free account: the full history and sectors over time.
Stakes above 5% (13D/13G)
Companies where this filer reported holding 5% or more of the shares. It is the figure from its latest filing on each one; history since December 2024.
How we classify it
Investment firm, per its Form ADV of May 4, 2026 (high confidence).
The data, as reported: GOEHRING & ROZENCWAJG ASSOCIATES, LLC (CRD 283394): Manages registered funds; 5.D assets by client type: registered funds 50%, other 29%, sovereign funds 11%, corporations 8% (of $1.5 bn)
The type comes from a rule applied to that data. If it looks wrong, tell us.
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