Goehring & Rozencwajg Associates LLC's Q1 2023 13F: 1 new position, 1 exit
Form 13F-HR for the quarter ended Mar 31, 2023 · filed May 9, 2023 · 47 reported positions · accession 0001085146-23-002175
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Increased | IVANHOE ELECTRIC INC (IE) | 1.0% | 2.5% | +1.5 pts | +364K sh | +156% |
| Increased | RANGE RES CORP (RRC) | 8.9% | 9.6% | +0.7 pts | +61,725 sh | +6% |
| New | TRIPLE FLAG PRECIOUS METAL (TFPM) | — | 0.4% | +0.4 pts | +73,221 sh | new |
| Exited | MAVERIX METALS INC (MMX) | 0.3% | — | −0.3 pts | −201K sh | −100% |
| Increased | ANTERO RESOURCES CORP (AR) | 6.1% | 4.6% | −1.5 pts | +35,592 sh | +6% |
| Increased | PIONEER NAT RES CO (PXD) | 5.5% | 5.0% | −0.5 pts | +4,020 sh | +6% |
| Increased | CAMECO CORP (CCJ) | 4.9% | 5.6% | +0.8 pts | +29,996 sh | +5% |
| Increased | MOSAIC CO NEW (MOS) | 4.6% | 4.8% | +0.3 pts | +16,214 sh | +6% |
| Increased | EQT CORP (EQT) | 4.8% | 4.6% | −0.2 pts | +20,542 sh | +5% |
| Increased | MATADOR RES CO (MTDR) | 4.0% | 3.4% | −0.6 pts | +12,076 sh | +6% |
| Increased | PDC ENERGY INC (PDCE) | 3.2% | 3.3% | +0.1 pts | +8,839 sh | +6% |
| Increased | FREEPORT-MCMORAN INC (FCX) | 2.0% | 2.2% | +0.2 pts | +11,900 sh | +8% |
| Increased | CIVITAS RESOURCES INC (CIVI) | 2.7% | 3.3% | +0.5 pts | +6,660 sh | +5% |
| Increased |
NUTRIEN LTD (NTR)
prior share count corrected for a stock split
|
3.2% | 3.3% | +0.1 pts | +6,038 sh | +5% |
| Increased | NEXGEN ENERGY LTD (NXE) | 1.4% | 1.3% | −0.1 pts | +100K sh | +12% |
| Increased | NOBLE CORP PLC (NE) | 1.8% | 1.9% | +0.1 pts | +9,660 sh | +7% |
| Increased | DIAMOND OFFSHORE DRILLING IN (DO) | 2.1% | 2.4% | +0.4 pts | +27,499 sh | +5% |
| Increased | OCEANEERING INTL INC (OII) | 1.8% | 1.8% | +0.1 pts | +18,068 sh | +6% |
| Increased | SCHLUMBERGER LTD (SLB) | 2.3% | 2.1% | −0.2 pts | +6,422 sh | +5% |
| Increased | CF INDS HLDGS INC (CF) | 2.7% | 2.3% | −0.4 pts | +4,222 sh | +5% |
| Increased | CHESAPEAKE ENERGY CORP (EXE) | 2.4% | 2.0% | −0.5 pts | +3,849 sh | +5% |
| Reduced | ALPHA METALLURGICAL RESOUR I (AMR) | 3.0% | 3.0% | 0.0 pts | −1,796 sh | −3% |
| Increased | DIAMONDBACK ENERGY INC (FANG) | 2.1% | 2.1% | 0.0 pts | +2,002 sh | +5% |
| Increased | APA CORPORATION (APA) | 2.0% | 1.6% | −0.4 pts | +6,528 sh | +5% |
| Increased | CHAMPIONX CORPORATION (CHX) | 2.2% | 2.0% | −0.1 pts | +8,602 sh | +4% |
| Increased | ERO COPPER CORP (ERO) | 1.0% | 1.3% | +0.3 pts | +11,915 sh | +6% |
| Increased | INTREPID POTASH INC (IPI) | 1.3% | 1.3% | 0.0 pts | +7,613 sh | +6% |
| Reduced | CONSOL ENERGY INC NEW (CEIX) | 3.7% | 3.2% | −0.5 pts | −3,453 sh | −2% |
| Increased | ENERGY FUELS INC (UUUU) | 1.5% | 1.4% | −0.1 pts | +35,514 sh | +5% |
| Increased | CENTRUS ENERGY CORP (LEU) | 1.5% | 1.5% | 0.0 pts | +6,014 sh | +5% |
| Increased | CORTEVA INC (CTVA) | 1.4% | 1.4% | 0.0 pts | +2,976 sh | +4% |
| Increased | TRANSOCEAN LTD (RIG) | 0.8% | 1.2% | +0.3 pts | +21,755 sh | +4% |
| Increased | VITAL ENERGY INC (VTLE) | 1.0% | 0.9% | −0.1 pts | +2,910 sh | +6% |
| Increased | OVINTIV INC (OVV) | 1.1% | 0.8% | −0.3 pts | +3,610 sh | +6% |
| Increased | NOV INC (NOV) | 0.9% | 0.8% | −0.1 pts | +6,636 sh | +5% |
| Increased | URANIUM ENERGY CORP (UEC) | 1.0% | 0.8% | −0.2 pts | +42,035 sh | +6% |
| Increased | DENISON MINES CORP (DNN) | 1.0% | 0.9% | 0.0 pts | +105K sh | +4% |
| Increased | VALARIS LIMITED (VAL) | 0.9% | 0.8% | 0.0 pts | +1,680 sh | +5% |
| Increased | ORLA MNG LTD NEW (ORLA) | 1.2% | 1.4% | +0.2 pts | +22,305 sh | +3% |
| Reduced | ARCH RESOURCES INC (ARCH) | 2.3% | 2.0% | −0.3 pts | −755 sh | −2% |
| Increased | EQUINOX GOLD CORP (EQX) | 0.8% | 1.2% | +0.4 pts | +17,077 sh | +3% |
| Increased | PERMIAN RESOURCES CORP (PR) | 0.6% | 0.6% | +0.1 pts | +7,852 sh | +5% |
| Increased | PAN AMERN SILVER CORP (PAAS) | 1.0% | 1.1% | +0.1 pts | +4,339 sh | +3% |
| Increased | SKEENA RES LTD NEW (SKE) | 0.5% | 0.6% | +0.1 pts | +12,830 sh | +5% |
| Reduced | CALEDONIA MNG CORP PLC (CMCL) | 0.6% | 0.7% | +0.1 pts | −5,080 sh | −4% |
| Increased | NOVAGOLD RES INC (NG) | 0.5% | 0.5% | 0.0 pts | +9,620 sh | +5% |
| Increased | CALLON PETE CO DEL (CPE) | 0.3% | 0.3% | 0.0 pts | +650 sh | +3% |
| Increased | TRILOGY METALS INC NEW (TMQ) | 0.3% | 0.3% | 0.0 pts | +34,337 sh | +2% |
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
* Prior share counts adjusted or corrected for a stock split — changes are measured from the adjusted count:
- NUTRIEN LTD (NTR): 124K shares as filed last quarter, 124K after adjustment → 131K now (prior share count corrected for a stock split)
Top 10 positions — 47.5% of the equity book
Changes in the top 10 this quarter: CIVI entered · CEIX left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | RANGE RES CORP (RRC) | 8.9% | 9.6% | |
| 2 | CAMECO CORP (CCJ) | 4.9% | 5.6% | |
| 3 | PIONEER NAT RES CO (PXD) | 5.5% | 5.0% | |
| 4 | MOSAIC CO NEW (MOS) | 4.6% | 4.8% | |
| 5 | ANTERO RESOURCES CORP (AR) | 6.1% | 4.6% | |
| 6 | EQT CORP (EQT) | 4.8% | 4.6% | |
| 7 | MATADOR RES CO (MTDR) | 4.0% | 3.4% | |
| 8 | PDC ENERGY INC (PDCE) | 3.2% | 3.3% | |
| 9 | NUTRIEN LTD (NTR) | 3.2% | 3.3% | |
| 10 | CIVITAS RESOURCES INC (CIVI) | 2.7% | 3.3% | Entered the top 10 |
| — | CONSOL ENERGY INC NEW (CEIX) | 3.7% | 3.2% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).