Goehring & Rozencwajg Associates

Leigh Goehring and Adam Rozencwajg serve as the sole named portfolio managers for the G&R Resources Fund. Goehring has specialized in natural resource investments since 1991, previously managing funds at Prudential-Jennison and Chilton. Rozencwajg worked alongside him at Chilton starting in 2007 and holds the CFA designation.

The firm operates a publicly registered mutual fund — the G&R Resources Fund — with Retail (GRHAX) and Institutional (GRHIX) share classes. It is not structured as a hedge fund, and does not disclose a private fund, separately managed account, or co-investment vehicle.

The Fund invests at least 80% of net assets in securities of natural resources companies and instruments providing economic exposure to the sector. This includes equities of energy, metals, and agriculture companies, as well as commodity-linked derivatives, futures, options, and ETFs that track natural resources.

All disclosed investment activity runs through a single long-only public equity mutual fund. The firm does not list any fund-of-fund commitments, private direct investments, or co-investment programs alongside external GPs.

The Fund covers the full natural resources complex: energy commodities (oil, natural gas, coal, uranium), precious metals, base and ferrous metals, diamonds, and agricultural and fertilizer commodities such as potash, phosphate, and nitrogen. It does not carve out explicit exclusions by sector beyond the 80% mandate constraint.