Goehring & Rozencwajg Associates, LLC

Q4 2025 13F-HR Holdings

Location
New York, NY
Holdings as of
12/31/2025
Date filed
2/13/2026
Form type
13F-HR
Num holdings
43
Total value ($000)
$1,009,386
Net value change ($000)
+178,506 (21.5%)
New positions
2
Sold out positions
1
Turnover %
0.7%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/10/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
CNQ 32,266 100.3%
SLB 29,712 475.5%
RRC 17,513 33.0%
SDRL 15,212 29.7%
AR 13,136 47.5%
EQT 12,964 40.1%
SBSW 12,673 33.6%
NE 9,683 31.7%
VAL 9,516 21.6%
CCJ 8,117 14.9%
Top Reduces (Value $000, Stocks/ETFs)
AGI -10,787 -26.4%
LEU -8,377 -16.8%
EQX -4,702 -18.6%
CMCL -4,149 -49.0%
MOS -3,984 -26.8%
SKE -2,760 -17.1%
NG -2,600 -25.9%
ORLA -2,289 -17.9%
UEC -1,798 -7.8%
URG -1,074 -18.2%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type