Goehring & Rozencwajg Associates, LLC Long-Term Concentrated

CIK: 0001863154 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 13, 2026

Total Value ($000): $1,009,386 (100.0% shares, 0.0% debt)

Holdings (43)

New Positions (2)

PR PERMIAN RESOURCES CORP 0.7%
Value ($000) $7,170 Shares 449,235 Est. Cost $13.43 Unrealized 0.0%
SU SUNCOR ENERGY INC NEW 0.0%
Value ($000) $0 Shares 727,381 Est. Cost $42.26 Unrealized 0.0%

Increased Positions (33)

CNQ CANADIAN NAT RES LTD 6.4%
Value ($000) $64,444 (+100.3%) Shares 1,902,413 (+89.3%) Est. Cost $32.11 Unrealized +1.0%
SLB SLB LIMITED 3.6%
Value ($000) $35,961 (+475.5%) Shares 936,962 (+415.4%) Est. Cost $38.02 Unrealized -5.2%
RRC RANGE RES CORP 7.0%
Value ($000) $70,629 (+33.0%) Shares 2,003,101 (+41.9%) Est. Cost $31.22 Unrealized +19.3%
SDRL SEADRILL LTD 6.6%
Value ($000) $66,421 (+29.7%) Shares 1,919,681 (+13.2%) Est. Cost $32.95 Unrealized -5.5%
AR ANTERO RESOURCES CORP 4.0%
Value ($000) $40,788 (+47.5%) Shares 1,183,620 (+43.7%) Est. Cost $32.63 Unrealized +3.8%
EQT EQT CORP 4.5%
Value ($000) $45,330 (+40.1%) Shares 845,710 (+42.2%) Est. Cost $43.12 Unrealized +30.1%
SBSW SIBANYE STILLWATER LTD 5.0%
Value ($000) $50,440 (+33.6%) Shares 3,539,680 (+5.3%) Est. Cost $4.75 Unrealized —
NE NOBLE CORP PLC 4.0%
Value ($000) $40,272 (+31.7%) Shares 1,426,054 (+31.8%) Est. Cost $29.77 Unrealized -1.8%
VAL VALARIS LTD 5.3%
Value ($000) $53,528 (+21.6%) Shares 1,062,070 (+17.7%) Est. Cost $49.32 Unrealized +8.8%
LEU CENTRUS ENERGY CORP 4.1%
Value ($000) $41,540 (-16.8%) Shares 171,114 (+6.3%) Est. Cost $56.08 Unrealized +438.5%
CCJ CAMECO CORP 6.2%
Value ($000) $62,483 (+14.9%) Shares 682,952 (+5.3%) Est. Cost $29.92 Unrealized +200.6%
IE IVANHOE ELECTRIC INC 2.8%
Value ($000) $28,571 (+34.1%) Shares 1,787,897 (+5.3%) Est. Cost $12.18 Unrealized +17.5%
CRK COMSTOCK RES INC 1.5%
Value ($000) $14,819 (+82.4%) Shares 639,289 (+56.0%) Est. Cost $14.60 Unrealized +51.0%
EXE EXPAND ENERGY CORPORATION 1.8%
Value ($000) $18,250 (+55.0%) Shares 165,368 (+49.2%) Est. Cost $93.20 Unrealized +18.7%
NTR NUTRIEN LTD 5.0%
Value ($000) $50,946 (+11.2%) Shares 825,437 (+5.8%) Est. Cost $53.71 Unrealized +9.6%
HBM HUDBAY MINERALS INC 1.6%
Value ($000) $16,380 (+39.8%) Shares 824,951 (+6.6%) Est. Cost $6.38 Unrealized +164.9%
MOS MOSAIC CO NEW 1.1%
Value ($000) $10,866 (-26.8%) Shares 451,046 (+5.3%) Est. Cost $39.72 Unrealized -32.6%
BORR BORR DRILLING LTD 0.6%
Value ($000) $6,541 (+133.2%) Shares 1,623,163 (+55.7%) Est. Cost $5.27 Unrealized -37.1%
AMR ALPHA METALLURGICAL RESOUR I 1.6%
Value ($000) $15,770 (+29.1%) Shares 78,895 (+6.0%) Est. Cost $191.07 Unrealized -9.5%
TMQ TRILOGY METALS INC NEW 0.6%
Value ($000) $6,105 (+114.6%) Shares 1,408,204 (+5.2%) Est. Cost $0.83 Unrealized +467.8%
FCX FREEPORT-MCMORAN INC 1.2%
Value ($000) $12,067 (+36.5%) Shares 237,584 (+5.4%) Est. Cost $36.89 Unrealized +17.4%
CNR CORE NATURAL RESOURCES INC 2.7%
Value ($000) $26,794 (+12.5%) Shares 302,720 (+6.1%) Est. Cost $84.12 Unrealized +1.3%
FANG DIAMONDBACK ENERGY INC 1.3%
Value ($000) $12,815 (+28.2%) Shares 85,243 (+22.1%) Est. Cost $142.04 Unrealized +3.5%
OII OCEANEERING INTL INC 1.4%
Value ($000) $13,667 (+18.3%) Shares 568,734 (+22.0%) Est. Cost $18.10 Unrealized +33.4%
UEC URANIUM ENERGY CORP 2.1%
Value ($000) $21,270 (-7.8%) Shares 1,821,094 (+5.3%) Est. Cost $4.53 Unrealized +189.4%
MTDR MATADOR RES CO 1.4%
Value ($000) $14,605 (+12.8%) Shares 344,138 (+19.4%) Est. Cost $58.17 Unrealized -27.8%
URG UR-ENERGY INC 0.5%
Value ($000) $4,820 (-18.2%) Shares 3,467,921 (+5.3%) Est. Cost $1.16 Unrealized +27.8%
NXE NEXGEN ENERGY LTD 1.4%
Value ($000) $13,974 (+8.3%) Shares 1,518,939 (+5.3%) Est. Cost $5.10 Unrealized +73.2%
EU ENCORE ENERGY CORP 0.3%
Value ($000) $3,044 (-18.6%) Shares 1,227,255 (+5.3%) Est. Cost $2.71 Unrealized +5.6%
CIVI CIVITAS RESOURCES INC 0.7%
Value ($000) $6,951 (+10.7%) Shares 256,605 (+32.9%) Est. Cost $45.93 Unrealized -37.9%
IPI INTREPID POTASH INC 0.6%
Value ($000) $6,082 (-4.5%) Shares 219,316 (+5.3%) Est. Cost $31.48 Unrealized -14.6%
DNN DENISON MINES CORP 1.0%
Value ($000) $10,514 (+1.9%) Shares 3,952,752 (+5.3%) Est. Cost $1.47 Unrealized +85.5%
UUUU ENERGY FUELS INC 1.8%
Value ($000) $17,876 (-0.2%) Shares 1,229,408 (+5.3%) Est. Cost $6.92 Unrealized +145.1%

Exited Positions (1)

TDW TIDEWATER INC NEW 0.0%
Value ($000) $209 Shares 3,914 Est. Cost $54.81 Unrealized -3.6%

Decreased Positions (8)

AGI ALAMOS GOLD INC NEW 3.0%
Value ($000) $30,118 (-26.4%) Shares 780,651 (-33.5%) Est. Cost $14.28 Unrealized +143.9%
EQX EQUINOX GOLD CORP 2.0%
Value ($000) $20,588 (-18.6%) Shares 1,464,761 (-35.0%) Est. Cost $5.19 Unrealized +143.3%
CMCL CALEDONIA MNG CORP PLC 0.4%
Value ($000) $4,326 (-49.0%) Shares 165,304 (-29.4%) Est. Cost $10.30 Unrealized +185.4%
SKE SKEENA RES LTD NEW 1.3%
Value ($000) $13,373 (-17.1%) Shares 562,975 (-35.6%) Est. Cost $4.65 Unrealized +324.4%
NG NOVAGOLD RES INC 0.7%
Value ($000) $7,454 (-25.9%) Shares 799,826 (-30.0%) Est. Cost $4.10 Unrealized +125.9%
ORLA ORLA MNG LTD NEW 1.0%
Value ($000) $10,464 (-17.9%) Shares 777,949 (-34.2%) Est. Cost $3.81 Unrealized +218.4%
TFPM TRIPLE FLAG PRECIOUS METAL 0.2%
Value ($000) $2,261 (-23.3%) Shares 68,022 (-32.5%) Est. Cost $14.09 Unrealized +122.1%
PAAS PAN AMERN SILVER CORP 0.9%
Value ($000) $9,071 (-5.6%) Shares 175,080 (-29.4%) Est. Cost $16.94 Unrealized +147.0%