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Goehring & Rozencwajg Associates, LLC

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13F filer, CIK 1863154, NEW YORK, NY

Goehring & Rozencwajg Associates, LLC reported $551,720,699 across 42 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-04-29. Its ten largest share positions make up 55.35% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001085146-25-002412

Period
2025-03-31
Reported value
$552M
Holdings
42
Top 10 weight
55.35%
New
1
Sold out
3

Largest buys vs the previous quarter

SecurityShares changeApprox. value
NTRadded+471,390$24.7M
CNRnew+283,062$20.7M
SDRLadded+723,827$18.2M
RRCadded+25,403$1.02M
NEadded+34,018$849K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
CONSOL ENERGY INC NEWexited-201,172-$22.1M
CRKreduced-304,284-$6.04M
EROexited-349,834-$4.48M
SKEreduced-339,800-$3.66M
NOVexited-189,652-$2.69M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001085146-25-002412, largest first. % of portfolio is the value over $551,720,699, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
RRCRANGE RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,435,576 shares; 2024Q4: 1,409,973 shares; 2025Q1: 1,435,376 shares 1,435,376$57.8M10.48%+25,403Timeline
NTRNUTRIEN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 212,297 shares; 2024Q4: 200,439 shares; 2025Q1: 671,829 shares 671,829$35.2M6.39%+471,390Timeline
ARANTERO RESOURCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 850,471 shares; 2024Q4: 830,532 shares; 2025Q1: 849,101 shares 849,101$34.8M6.31%+18,569Timeline
EQTEQT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 606,740 shares; 2024Q4: 592,417 shares; 2025Q1: 605,654 shares 605,654$32.5M5.9%+13,237Timeline
AGIALAMOS GOLD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,237,383 shares; 2024Q4: 1,196,225 shares; 2025Q1: 1,223,257 shares 1,223,257$31.9M5.78%+27,032Timeline
CCJCAMECO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 739,503 shares; 2024Q4: 658,629 shares; 2025Q1: 673,298 shares 673,298$30.2M5.47%+14,669Timeline
SDRLSEADRILL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 486,702 shares; 2024Q4: 476,374 shares; 2025Q1: 1,200,201 shares 1,200,201$30.1M5.46%+723,827Timeline
CNRCORE NATURAL RESOURCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 283,062 shares 283,062$20.7M3.76%newTimeline
CNQCANADIAN NAT RES LTD MED TERQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 512,344 shares; 2025Q1: 526,765 shares 526,765$16.2M2.94%+14,421Timeline
LEUCENTRUS ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 215,045 shares; 2024Q4: 207,756 shares; 2025Q1: 212,362 shares 212,362$15.8M2.86%+4,606Timeline
MTDRMATADOR RES COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 286,680 shares; 2024Q4: 285,679 shares; 2025Q1: 292,069 shares 292,069$15.3M2.77%+6,390Timeline
MOSMOSAIC COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 472,057 shares; 2024Q4: 451,979 shares; 2025Q1: 461,497 shares 461,497$13.1M2.37%+9,518Timeline
ORLAORLA MNG LTD NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,393,971 shares; 2024Q4: 1,367,031 shares; 2025Q1: 1,397,753 shares 1,397,753$13M2.35%+30,722Timeline
SKESKEENA RES LTD NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,541,804 shares; 2024Q4: 1,505,167 shares; 2025Q1: 1,165,367 shares 1,165,367$12.6M2.28%-339,800Timeline
EXEEXPAND ENERGY CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 112,511 shares; 2024Q4: 109,031 shares; 2025Q1: 111,704 shares 111,704$12.2M2.21%+2,673Timeline
SBSWSIBANYE STILLWATER LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,653,480 shares; 2025Q1: 2,749,710 shares 2,749,710$12M2.18%+96,230Timeline
FANGDIAMONDBACK ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 70,216 shares; 2024Q4: 68,243 shares; 2025Q1: 69,684 shares 69,684$11M2%+1,441Timeline
EQXEQUINOX GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,579,351 shares; 2024Q4: 1,528,556 shares; 2025Q1: 1,562,929 shares 1,562,929$10.9M1.98%+34,373Timeline
IEIVANHOE ELECTRIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,716,316 shares; 2024Q4: 1,675,467 shares; 2025Q1: 1,713,186 shares 1,713,186$10.8M1.97%+37,719Timeline
OIIOCEANEERING INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 471,357 shares; 2024Q4: 460,189 shares; 2025Q1: 470,545 shares 470,545$10.2M1.85%+10,356Timeline
NENOBLE CORP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 395,291 shares; 2024Q4: 370,492 shares; 2025Q1: 404,510 shares 404,510$10.1M1.83%+34,018Timeline
UECURANIUM ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,802,484 shares; 2024Q4: 1,746,646 shares; 2025Q1: 1,784,948 shares 1,784,948$10M1.82%+38,302Timeline
FCXFREEPORT MCMORAN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 233,773 shares; 2024Q4: 225,649 shares; 2025Q1: 230,701 shares 230,701$9.39M1.7%+5,052Timeline
AMRALPHA METALLURGICAL RESOUR IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 73,977 shares; 2024Q4: 71,800 shares; 2025Q1: 73,689 shares 73,689$9.21M1.67%+1,889Timeline
CRKCOMSTOCK RES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 727,364 shares; 2024Q4: 702,991 shares; 2025Q1: 398,707 shares 398,707$7.91M1.43%-304,284Timeline
SLBSLB LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 187,604 shares; 2024Q4: 181,104 shares; 2025Q1: 185,171 shares 185,171$7.64M1.39%+4,067Timeline
PAASPAN AMERN SILVER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 282,410 shares; 2024Q4: 276,376 shares; 2025Q1: 282,599 shares 282,599$7.46M1.35%+6,223Timeline
NXENEXGEN ENERGY LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,459,659 shares; 2024Q4: 1,440,874 shares; 2025Q1: 1,472,899 shares 1,472,899$7.42M1.35%+32,025Timeline
VALVALARIS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 173,684 shares; 2024Q4: 167,230 shares; 2025Q1: 170,940 shares 170,940$6.9M1.25%+3,710Timeline
CIVICIVITAS RESOURCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 197,531 shares; 2024Q4: 192,673 shares; 2025Q1: 189,627 shares 189,627$6.78M1.23%-3,046Timeline
HBMHUDBAY MINERALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 813,350 shares; 2024Q4: 780,287 shares; 2025Q1: 797,648 shares 797,648$6.63M1.2%+17,361Timeline
IPIINTREPID POTASH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 208,090 shares; 2024Q4: 209,362 shares; 2025Q1: 213,977 shares 213,977$6.21M1.12%+4,615Timeline
DNNDENISON MINES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,844,109 shares; 2024Q4: 3,710,097 shares; 2025Q1: 3,793,204 shares 3,793,204$5.8M1.05%+83,107Timeline
UUUUENERGY FUELS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,179,232 shares; 2024Q4: 1,145,393 shares; 2025Q1: 1,171,222 shares 1,171,222$5.09M0.92%+25,829Timeline
URGUR-ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,164,742 shares; 2024Q4: 3,148,214 shares; 2025Q1: 3,220,120 shares 3,220,120$3.06M0.55%+71,906Timeline
RIGTRANSOCEAN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 870,760 shares; 2024Q4: 857,304 shares; 2025Q1: 876,712 shares 876,712$2.84M0.51%+19,408Timeline
CMCLCALEDONIA MNG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 227,891 shares; 2024Q4: 226,221 shares; 2025Q1: 232,034 shares 232,034$2.69M0.49%+5,813Timeline
BORRBORR DRILLING LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,046,152 shares; 2024Q4: 1,033,317 shares; 2025Q1: 1,056,112 shares 1,056,112$2.56M0.46%+22,795Timeline
TMQTRILOGY METALS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,669,216 shares; 2024Q4: 1,392,197 shares; 2025Q1: 1,402,797 shares 1,402,797$2.28M0.41%+10,600Timeline
TFPMTRIPLE FLAG PRECIOUS METALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 107,671 shares; 2024Q4: 99,656 shares; 2025Q1: 101,856 shares 101,856$1.96M0.35%+2,200Timeline
EUENCORE ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,161,648 shares; 2024Q4: 1,136,521 shares; 2025Q1: 1,161,923 shares 1,161,923$1.93M0.35%+25,402Timeline
NGNOVAGOLD RESOURCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 351,416 shares; 2024Q4: 371,128 shares; 2025Q1: 379,628 shares 379,628$1.3M0.24%+8,500Timeline

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
CONSOL ENERGY INC NEWCONSOL ENERGY INC NEW201,172$22.1Mshares
EROERO COPPER CORP349,834$4.48Mshares
NOVNOV INC189,652$2.69Mshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001085146-25-002412 base2025-04-29acceptance time not in the bulk data set