Goehring & Rozencwajg Associates, LLC

Long Only Manager • Sector

Goehring & Rozencwajg Associates, LLC is a Sector-focused institution based in Nashville, TN led by Adam Alexandar Rozencwajg, managing $830.9M across 42 long positions as of Q3 2025 with 63% Energy concentration and 53% concentrated in top 10 holdings.

Managing PartnerAdam Alexandar Rozencwajg

Portfolio Value: $830.9M
Positions: 42
Top Holding: CCJ at 6.54%
Last Reported: Q3 2025

Address429 Chestnut Street, #100, Nashville, TN, 37203-4802, United States

Top Holdings

Largest long holdings in Goehring & Rozencwajg Associates, LLC's portfolio (53.2% of total portfolio)

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GthenH

Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Cameco CCJ	Uranium Energy	$54.4M	6.54%	-$58.1K Sold	0.15% 648.3K shares	Q4 2022 Held for 2y 11m
2 Range Resources RRC	Oil & Gas Exploration & Production Energy	$53.1M	6.39%	+$164.0K Bought	0.59% 1.4M shares	Q4 2022 Held for 2y 11m
3 Seadrill SDRL	Oil & Gas Drilling Energy	$51.2M	6.16%	+$335.7K Bought	2.72% 1.7M shares	Q2 2023 Held for 2y 5m
4 Centrus Energy LEU	Uranium Energy	$49.9M	6.01%	-$7.6M Sold	0.88% 161.0K shares	Q4 2022 Held for 2y 11m
5 Nutrien Ltd. NTR	Agricultural Inputs Basic Materials	$45.8M	5.51%	-$49.1K Sold	0.16% 780.2K shares	Q4 2022 Held for 2y 11m
6 Valaris VAL	Oil & Gas Equipment & Services Energy	$44.0M	5.30%	+$22.9M Bought	1.27% 902.4K shares	Q4 2022 Held for 2y 11m
7 Alamos Gold Inc. AGI	Gold Basic Materials	$40.9M	4.92%	+$75.6K Bought	0.28% 1.2M shares	Q1 2024 Held for 1y 8m
8 SBSW Sibanye Stillwater SBSW	Unknown Unknown	$37.8M	4.55%	+$125.8K Bought	— 3.4M shares	Q4 2024 Held for 11 months
9 EQT Corporation EQT	Oil & Gas Exploration & Production Energy	$32.4M	3.90%	+$189.6K Bought	0.10% 594.6K shares	Q4 2022 Held for 2y 11m
10 Canadian Natural Resources CNQ	Oil & Gas Exploration & Production Energy	$32.2M	3.87%	+$14.2M Bought	0.05% 1.0M shares	Q4 2024 Held for 11 months

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GthenH

Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Goehring & Rozencwajg Associates, LLC's latest filing

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GthenC

Market Value

$830.9M

Prior: $654.0M

Q/Q Change

+27.05%

+$176.9M

Net Flows % of MV

+6.16%

Turnover Ratio

4.04%

New Purchases

0 stocks

Added To

31 stocks

+$59.1M

Sold Out Of

0 stocks

Reduced Holdings

10 stocks

-$7.9M

Increased Positions

Position	Shares Δ	Change
1 Noble Corporation NE	+182.97%	382.2K → 1.1M +$19.8M
2 Valaris VAL	+108.89%	432.0K → 902.4K +$22.9M
3 Canadian Natural Resources CNQ	+78.94%	561.6K → 1.0M +$14.2M
4 Trilogy Metals TMQ	+4.6%	1.3M → 1.3M +$125.0K
5 NovaGold Resources NG	+1.3%	1.1M → 1.1M +$128.9K

Decreased Positions

Position	Shares Δ	Change
1 Centrus Energy LEU	-13.18%	185.4K → 161.0K −$7.6M
2 Hudbay Minerals HBM	-0.58%	778.1K → 773.6K −$68.2K
3 Ur-Energy URG	-0.25%	3.3M → 3.3M −$14.9K
4 Uranium Energy UEC	-0.21%	1.7M → 1.7M −$47.7K
5 NexGen Energy NXE	-0.2%	1.4M → 1.4M −$25.5K