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GRA

Goehring & Rozencwajg Associates Portfolio holdings

AUM $1.74B
1-Year Est. Return 48.6%
This Fund
S&P 500
This Quarter Est. Return
+2.68%
1 Year Est. Return
+48.6%
3 Year Est. Return
+148.15%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$552M
AUM Growth
+$65M
Cap. Flow
+$47.1M
Cap. Flow %
8.54%
Top 10 Hldgs %
55.35%
Holding
44
New
–
Increased
39
Reduced
3
Closed
2

Top Buys

Rank Stock Value
1
NTR icon
Nutrien
NTR
+$24.1M
2
SDRL icon
Seadrill
SDRL
+$22.4M
3
CNR
Core Natural Resources Inc
CNR
+$6.92M
4
RRC icon
Range Resources
RRC
+$977K
5
NE icon
Noble Corp
NE
+$974K

Top Sells

Rank Stock Value
1
CRK icon
Comstock Resources
CRK
+$5.83M
2
ERO icon
Ero Copper
ERO
+$4.48M
3
SKE
Skeena Resources
SKE
+$3.42M
4
NOV icon
NOV
NOV
+$2.69M
5
CIVI
Civitas Resources
CIVI
+$135K

Sector Composition

Rank Sector Weight
1 Energy 64.68%
2 Materials 35.32%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SLB icon
26
SLB Ltd
SLB
$78.9B
$7.64M 1.39%
185,171
+4,067
+2% +$167K
PAAS icon
27
Pan American Silver
PAAS
$21.8B
$7.46M 1.35%
282,599
+6,223
+2% +$149K
NXE icon
28
NexGen Energy
NXE
$6.91B
$7.42M 1.35%
1,472,899
+32,025
+2% +$189K
VAL icon
29
Valaris
VAL
$5.94B
$6.9M 1.25%
170,940
+3,710
+2% +$159K
CIVI
30
DELISTED
Civitas Resources
CIVI
$6.78M 1.23%
189,627
-3,046
-2% -$135K
HBM icon
31
Hudbay
HBM
$12.4B
$6.63M 1.2%
797,648
+17,361
+2% +$141K
IPI icon
32
Intrepid Potash
IPI
$508M
$6.21M 1.12%
213,977
+4,615
+2% +$122K
DNN icon
33
Denison Mines
DNN
$2.95B
$5.8M 1.05%
3,793,204
+83,107
+2% +$139K
UUUU icon
34
Energy Fuels
UUUU
$3.57B
$5.09M 0.92%
1,171,222
+25,829
+2% +$124K
URG
35
Ur-Energy
URG
$564M
$3.06M 0.55%
3,220,120
+71,906
+2% +$70.5K
RIG icon
36
Transocean
RIG
$6.39B
$2.84M 0.51%
876,712
+19,408
+2% +$68.1K
CMCL icon
37
Caledonia Mining Corp
CMCL
$439M
$2.69M 0.49%
232,034
+5,813
+3% +$59.7K
BORR
38
Borr Drilling
BORR
$1.28B
$2.56M 0.46%
1,056,112
+22,795
+2% +$68.6K
TMQ
39
Trilogy Metals
TMQ
$670M
$2.28M 0.41%
1,402,797
+10,600
+0.8% +$14.6K
TFPM icon
40
Triple Flag Precious Metals
TFPM
$6.59B
$1.96M 0.35%
101,856
+2,200
+2% +$37.6K
EU
41
enCore Energy
EU
$254M
$1.93M 0.35%
1,161,923
+25,402
+2% +$65.3K
NG icon
42
NovaGold Resources
NG
$3.35B
$1.3M 0.24%
379,628
+8,500
+2% +$27.3K
ERO icon
43
Ero Copper
ERO
$3.81B
– –
-349,834
Closed -$4.48M
NOV icon
44
NOV
NOV
$7.38B
– –
-189,652
Closed -$2.69M
1
2

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PAIM
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RIA
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SFI
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DF
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CIP
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CC
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ESBC
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Goehring & Rozencwajg Associates's Q1 2025 Portfolio in Review

As of Q1 2025, Goehring & Rozencwajg Associates held 44 positions worth $552M, up 13% from $487M the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Goehring & Rozencwajg Associates deployed $47.1M of net new capital in Q1 2025, adding to 39 existing holdings.

By sector, the portfolio is most concentrated in Energy at 65% of assets, down from 69% a quarter earlier, followed by Materials.

On the sell side, the largest reduction was Comstock Resources, an estimated $5.83M trimmed.

  • Goehring & Rozencwajg Associates added most to Nutrien in Q1 2025, an estimated $24.1M increase.
  • Goehring & Rozencwajg Associates's biggest Q1 2025 reduction was Comstock Resources, cutting an estimated $5.83M.
  • Goehring & Rozencwajg Associates fully exited Ero Copper in Q1 2025, selling an estimated $4.48M.
  • Goehring & Rozencwajg Associates's ten largest holdings make up 55% of its $552M portfolio in Q1 2025.
  • Goehring & Rozencwajg Associates opened 0 new positions and closed 2 in Q1 2025.
  • Goehring & Rozencwajg Associates's portfolio value rose 13% quarter-over-quarter to $552M.

Based on Goehring & Rozencwajg Associates's 13F filing for Q1 2025, filed 29 Apr 2025.