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Goehring & Rozencwajg Associates, LLC

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13F filer, CIK 1863154, NEW YORK, NY

Goehring & Rozencwajg Associates, LLC reported $653,957,226 across 41 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-12. Its ten largest share positions make up 56.85% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001085146-25-004923

Period
2025-06-30
Reported value
$654M
Holdings
41
Top 10 weight
56.85%
New
0
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
SDRLadded+483,800$12.7M
VALadded+261,081$11M
NTRadded+109,245$6.36M
SBSWadded+599,131$4.33M
EQXadded+681,948$3.94M

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
LEUreduced-26,940-$4.93M
SKEreduced-295,214-$4.7M
RIGexited-876,712-$2.84M
ORLAreduced-221,404-$2.23M
CCJreduced-24,316-$1.8M

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, Q2 2025

Share positions as resolved from 13F-HR 0001085146-25-004923, largest first. % of portfolio is the value over $653,957,226, 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; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,435,576 shares; 2024Q4: 1,409,973 shares; 2025Q1: 1,435,376 shares; 2025Q2: 1,406,795 shares 1,406,795$57.2M8.75%-28,581Timeline
CCJCAMECO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 739,503 shares; 2024Q4: 658,629 shares; 2025Q1: 673,298 shares; 2025Q2: 648,982 shares 648,982$48.2M7.37%-24,316Timeline
NTRNUTRIEN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 212,297 shares; 2024Q4: 200,439 shares; 2025Q1: 671,829 shares; 2025Q2: 781,074 shares 781,074$45.5M6.96%+109,245Timeline
SDRLSEADRILL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 486,702 shares; 2024Q4: 476,374 shares; 2025Q1: 1,200,201 shares; 2025Q2: 1,684,001 shares 1,684,001$44.2M6.76%+483,800Timeline
EQTEQT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 606,740 shares; 2024Q4: 592,417 shares; 2025Q1: 605,654 shares; 2025Q2: 591,155 shares 591,155$34.5M5.27%-14,499Timeline
LEUCENTRUS ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 215,045 shares; 2024Q4: 207,756 shares; 2025Q1: 212,362 shares; 2025Q2: 185,422 shares 185,422$34M5.19%-26,940Timeline
ARANTERO RESOURCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 850,471 shares; 2024Q4: 830,532 shares; 2025Q1: 849,101 shares; 2025Q2: 824,612 shares 824,612$33.2M5.08%-24,489Timeline
AGIALAMOS GOLD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,237,383 shares; 2024Q4: 1,196,225 shares; 2025Q1: 1,223,257 shares; 2025Q2: 1,171,247 shares 1,171,247$31.1M4.76%-52,010Timeline
SBSWSIBANYE STILLWATER LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,653,480 shares; 2025Q1: 2,749,710 shares; 2025Q2: 3,348,841 shares 3,348,841$24.2M3.7%+599,131Timeline
CNRCORE NATURAL RESOURCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 283,062 shares; 2025Q2: 283,245 shares 283,245$19.8M3.02%+183Timeline
VALVALARIS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 173,684 shares; 2024Q4: 167,230 shares; 2025Q1: 170,940 shares; 2025Q2: 432,021 shares 432,021$18.2M2.78%+261,081Timeline
CNQCANADIAN NAT RES LTD MED TERQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 512,344 shares; 2025Q1: 526,765 shares; 2025Q2: 561,642 shares 561,642$17.7M2.7%+34,877Timeline
MOSMOSAIC COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 472,057 shares; 2024Q4: 451,979 shares; 2025Q1: 461,497 shares; 2025Q2: 427,078 shares 427,078$15.6M2.38%-34,419Timeline
IEIVANHOE ELECTRIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,716,316 shares; 2024Q4: 1,675,467 shares; 2025Q1: 1,713,186 shares; 2025Q2: 1,693,316 shares 1,693,316$15.4M2.35%-19,870Timeline
SKESKEENA RES LTD NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,541,804 shares; 2024Q4: 1,505,167 shares; 2025Q1: 1,165,367 shares; 2025Q2: 870,153 shares 870,153$13.9M2.12%-295,214Timeline
MTDRMATADOR RES COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 286,680 shares; 2024Q4: 285,679 shares; 2025Q1: 292,069 shares; 2025Q2: 287,404 shares 287,404$13.7M2.1%-4,665Timeline
EQXEQUINOX GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,579,351 shares; 2024Q4: 1,528,556 shares; 2025Q1: 1,562,929 shares; 2025Q2: 2,244,877 shares 2,244,877$13M1.99%+681,948Timeline
EXEEXPAND ENERGY CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 112,511 shares; 2024Q4: 109,031 shares; 2025Q1: 111,704 shares; 2025Q2: 110,383 shares 110,383$12.9M1.97%-1,321Timeline
ORLAORLA MNG LTD NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,393,971 shares; 2024Q4: 1,367,031 shares; 2025Q1: 1,397,753 shares; 2025Q2: 1,176,349 shares 1,176,349$11.8M1.81%-221,404Timeline
UECURANIUM ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,802,484 shares; 2024Q4: 1,746,646 shares; 2025Q1: 1,784,948 shares; 2025Q2: 1,732,811 shares 1,732,811$11.8M1.8%-52,137Timeline
CRKCOMSTOCK RES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 727,364 shares; 2024Q4: 702,991 shares; 2025Q1: 398,707 shares; 2025Q2: 408,590 shares 408,590$11.3M1.73%+9,883Timeline
NENOBLE CORP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 395,291 shares; 2024Q4: 370,492 shares; 2025Q1: 404,510 shares; 2025Q2: 382,240 shares 382,240$10.1M1.55%-22,270Timeline
NXENEXGEN ENERGY LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,459,659 shares; 2024Q4: 1,440,874 shares; 2025Q1: 1,472,899 shares; 2025Q2: 1,445,108 shares 1,445,108$10M1.53%-27,791Timeline
FCXFREEPORT MCMORAN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 233,773 shares; 2024Q4: 225,649 shares; 2025Q1: 230,701 shares; 2025Q2: 224,924 shares 224,924$9.75M1.49%-5,777Timeline
OIIOCEANEERING INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 471,357 shares; 2024Q4: 460,189 shares; 2025Q1: 470,545 shares; 2025Q2: 465,178 shares 465,178$9.64M1.47%-5,367Timeline
FANGDIAMONDBACK ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 70,216 shares; 2024Q4: 68,243 shares; 2025Q1: 69,684 shares; 2025Q2: 69,677 shares 69,677$9.57M1.46%-7Timeline
AMRALPHA METALLURGICAL RESOUR IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 73,977 shares; 2024Q4: 71,800 shares; 2025Q1: 73,689 shares; 2025Q2: 73,893 shares 73,893$8.31M1.27%+204Timeline
HBMHUDBAY MINERALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 813,350 shares; 2024Q4: 780,287 shares; 2025Q1: 797,648 shares; 2025Q2: 778,065 shares 778,065$8.26M1.26%-19,583Timeline
IPIINTREPID POTASH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 208,090 shares; 2024Q4: 209,362 shares; 2025Q1: 213,977 shares; 2025Q2: 207,525 shares 207,525$7.41M1.13%-6,452Timeline
PAASPAN AMERN SILVER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 282,410 shares; 2024Q4: 276,376 shares; 2025Q1: 282,599 shares; 2025Q2: 246,608 shares 246,608$7M1.07%-35,991Timeline
DNNDENISON MINES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,844,109 shares; 2024Q4: 3,710,097 shares; 2025Q1: 3,793,204 shares; 2025Q2: 3,756,986 shares 3,756,986$6.84M1.05%-36,218Timeline
UUUUENERGY FUELS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,179,232 shares; 2024Q4: 1,145,393 shares; 2025Q1: 1,171,222 shares; 2025Q2: 1,168,516 shares 1,168,516$6.72M1.03%-2,706Timeline
SLBSLB LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 187,604 shares; 2024Q4: 181,104 shares; 2025Q1: 185,171 shares; 2025Q2: 181,320 shares 181,320$6.13M0.94%-3,851Timeline
CIVICIVITAS RESOURCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 197,531 shares; 2024Q4: 192,673 shares; 2025Q1: 189,627 shares; 2025Q2: 192,670 shares 192,670$5.3M0.81%+3,043Timeline
NGNOVAGOLD RESOURCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 351,416 shares; 2024Q4: 371,128 shares; 2025Q1: 379,628 shares; 2025Q2: 1,127,844 shares 1,127,844$4.61M0.71%+748,216Timeline
CMCLCALEDONIA MNG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 227,891 shares; 2024Q4: 226,221 shares; 2025Q1: 232,034 shares; 2025Q2: 232,065 shares 232,065$4.48M0.69%+31Timeline
URGUR-ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,164,742 shares; 2024Q4: 3,148,214 shares; 2025Q1: 3,220,120 shares; 2025Q2: 3,301,117 shares 3,301,117$3.47M0.53%+80,997Timeline
EUENCORE ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,161,648 shares; 2024Q4: 1,136,521 shares; 2025Q1: 1,161,923 shares; 2025Q2: 1,161,320 shares 1,161,320$3.32M0.51%-603Timeline
TFPMTRIPLE FLAG PRECIOUS METALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 107,671 shares; 2024Q4: 99,656 shares; 2025Q1: 101,856 shares; 2025Q2: 100,088 shares 100,088$2.37M0.36%-1,768Timeline
BORRBORR DRILLING LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,046,152 shares; 2024Q4: 1,033,317 shares; 2025Q1: 1,056,112 shares; 2025Q2: 1,033,961 shares 1,033,961$1.89M0.29%-22,151Timeline
TMQTRILOGY METALS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,669,216 shares; 2024Q4: 1,392,197 shares; 2025Q1: 1,402,797 shares; 2025Q2: 1,279,509 shares 1,279,509$1.74M0.27%-123,288Timeline

Sold out in Q2 2025

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

SecurityShares beforeValue beforeType
RIGTRANSOCEAN LTD876,712$2.84Mshares

How Q2 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 0001085146-25-004923 base2025-08-12acceptance time not in the bulk data set