CANADIAN NAT RES LTD

Ticker: CNQ CUSIP: 136385101 Class: Common Stock

Goehring & Rozencwajg Associates, LLC's Holding History (CIK: 0001863154)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 1,902,413 Value ($000) $64,444 Avg Close $32.42 Range $29.68 - $35.12

Q3 2025

Shares 1,004,981 Value ($000) $32,178 Avg Close $31.32 Range $29.30 - $33.24

Q2 2025

Shares 561,642 Value ($000) $17,665 Avg Close $29.98 Range $24.33 - $34.34

Q1 2025

Shares 526,765 Value ($000) $16,231 Avg Close $29.57 Range $24.95 - $32.63

Q4 2024

Shares 512,344 Value ($000) $15,193 Avg Close $32.47 Range $28.46 - $36.46

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	1,902,413	$64,444	$32.42	$29.68 - $35.12
Q3 2025	1,004,981	$32,178	$31.32	$29.30 - $33.24
Q2 2025	561,642	$17,665	$29.98	$24.33 - $34.34
Q1 2025	526,765	$16,231	$29.57	$24.95 - $32.63
Q4 2024	512,344	$15,193	$32.47	$28.46 - $36.46