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GRA

Goehring & Rozencwajg Associates Portfolio holdings

AUM $1.86B
1-Year Est. Return 130.26%
This Fund
S&P 500
This Quarter Est. Return
+26.78%
1 Year Est. Return
+130.26%
3 Year Est. Return
+213.45%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$831M
AUM Growth
+$177M
Cap. Flow
+$53.1M
Cap. Flow %
6.39%
Top 10 Hldgs %
53.15%
Holding
42
New
1
Increased
31
Reduced
10
Closed
–

Top Buys

Rank Stock Value
1
VAL icon
Valaris
VAL
+$22.9M
2
NE icon
Noble Corp
NE
+$19.8M
3
CNQ icon
Canadian Natural Resources
CNQ
+$13.9M
4
SDRL icon
Seadrill
SDRL
+$338K
5
TDW icon
Tidewater
TDW
+$215K

Top Sells

Rank Stock Value
1
LEU icon
Centrus Energy
LEU
+$5.41M
2
CCJ icon
Cameco
CCJ
+$53.7K
3
HBM icon
Hudbay
HBM
+$51.5K
4
NTR icon
Nutrien
NTR
+$48.7K
5
UEC icon
Uranium Energy
UEC
+$35.8K

Sector Composition

Rank Sector Weight
1 Energy 62.49%
2 Materials 37.51%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CCJ icon
1
Cameco
CCJ
$38.4B
$54.4M 6.54%
648,289
-693
-0.1% -$53.7K
RRC icon
2
Range Resources
RRC
$9.24B
$53.1M 6.39%
1,411,151
+4,356
+0.3% +$156K
SDRL icon
3
Seadrill
SDRL
$2.7B
$51.2M 6.16%
1,695,114
+11,113
+0.7% +$338K
LEU icon
4
Centrus Energy
LEU
$3.48B
$49.9M 6.01%
160,987
-24,435
-13% -$5.41M
NTR icon
5
Nutrien
NTR
$33.9B
$45.8M 5.51%
780,238
-836
-0.1% -$48.7K
VAL icon
6
Valaris
VAL
$5.23B
$44M 5.3%
902,440
+470,419
+109% +$22.9M
AGI icon
7
Alamos Gold
AGI
$11.9B
$40.9M 4.92%
1,173,417
+2,170
+0.2% +$62K
SBSW icon
8
Sibanye-Stillwater
SBSW
$6.43B
$37.8M 4.55%
3,360,030
+11,189
+0.3% +$97.7K
EQT icon
9
EQT Corp
EQT
$33B
$32.4M 3.9%
594,638
+3,483
+0.6% +$184K
CNQ icon
10
Canadian Natural Resources
CNQ
$98.6B
$32.2M 3.87%
1,004,981
+443,339
+79% +$13.9M
NE icon
11
Noble Corp
NE
$6.62B
$30.6M 3.68%
1,081,635
+699,395
+183% +$19.8M
AR icon
12
Antero Resources
AR
$10.9B
$27.7M 3.33%
823,946
-666
-0.1% -$22.2K
EQX icon
13
Equinox Gold
EQX
$7.43B
$25.3M 3.04%
2,252,347
+7,470
+0.3% +$59.4K
CNR
14
Core Natural Resources Inc
CNR
$4.09B
$23.8M 2.87%
285,352
+2,107
+0.7% +$158K
UEC icon
15
Uranium Energy
UEC
$4.82B
$23.1M 2.78%
1,729,235
-3,576
-0.2% -$35.8K
IE icon
16
Ivanhoe Electric
IE
$1.48B
$21.3M 2.56%
1,697,189
+3,873
+0.2% +$38.3K
UUUU icon
17
Energy Fuels
UUUU
$2.93B
$17.9M 2.16%
1,167,341
-1,175
-0.1% -$12.5K
SKE
18
Skeena Resources
SKE
$3.39B
$16.1M 1.94%
874,822
+4,669
+0.5% +$76.4K
MOS icon
19
The Mosaic Company
MOS
$7.24B
$14.9M 1.79%
428,210
+1,132
+0.3% +$39K
MTDR icon
20
Matador Resources
MTDR
$6B
$12.9M 1.56%
288,212
+808
+0.3% +$39.4K
NXE icon
21
NexGen Energy
NXE
$6.17B
$12.9M 1.55%
1,442,255
-2,853
-0.2% -$21K
ORLA
22
Orla Mining
ORLA
$3.54B
$12.8M 1.53%
1,182,704
+6,355
+0.5% +$68.1K
AMR icon
23
Alpha Metallurgical Resources
AMR
$1.82B
$12.2M 1.47%
74,436
+543
+0.7% +$75.3K
EXE
24
Expand Energy Corp
EXE
$21.4B
$11.8M 1.42%
110,801
+418
+0.4% +$41.9K
HBM icon
25
Hudbay
HBM
$10.1B
$11.7M 1.41%
773,564
-4,501
-0.6% -$51.5K
1
2

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ACM
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Goehring & Rozencwajg Associates's Q3 2025 Portfolio in Review

As of Q3 2025, Goehring & Rozencwajg Associates held 42 positions worth $831M, up 27% from $654M the previous quarter. Its ten largest holdings account for 53% of the portfolio.

Goehring & Rozencwajg Associates deployed $53.1M of net new capital in Q3 2025, opening 1 new position and adding to 31 existing holdings. Its largest new stake was Tidewater: 3,914 shares worth $209K.

By sector, the portfolio is most concentrated in Energy at 62% of assets, down from 64% a quarter earlier, followed by Materials.

On the sell side, the largest reduction was Centrus Energy, an estimated $5.41M trimmed.

  • Goehring & Rozencwajg Associates's largest Q3 2025 buy was Tidewater: 3,914 shares worth $209K.
  • Goehring & Rozencwajg Associates added most to Valaris in Q3 2025, an estimated $22.9M increase.
  • Goehring & Rozencwajg Associates's biggest Q3 2025 reduction was Centrus Energy, cutting an estimated $5.41M.
  • Goehring & Rozencwajg Associates's ten largest holdings make up 53% of its $831M portfolio in Q3 2025.
  • Goehring & Rozencwajg Associates opened 1 new position and closed 0 in Q3 2025.
  • Goehring & Rozencwajg Associates's portfolio value rose 27% quarter-over-quarter to $831M.

Based on Goehring & Rozencwajg Associates's 13F filing for Q3 2025, filed 10 Nov 2025.