# EDGAR Filing Document

**Accession Number:** 0001680255
**File Stem:** 0001049169-26-000042
**Filing Date:** 2026-1
**Character Count:** 36415
**Document Hash:** c7b99e919f31f8f67a356dab2f764442
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001049169-26-000042.hdr.sgml**: 20260127

**ACCESSION NUMBER**: 0001049169-26-000042

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260127

**DATE AS OF CHANGE**: 20260127

**PERIOD START**: 20260531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Goehring & Rozencwajg Investment Funds
- **CENTRAL INDEX KEY:** 0001680255

**ORGANIZATION NAME:**
- **EIN:** 816652260
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23177
- **FILM NUMBER:** 26563898

**BUSINESS ADDRESS:**
- **STREET 1:** 115 BROADWAY
- **STREET 2:** SUITE 05 141
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10006
- **BUSINESS PHONE:** 646-216

**MAIL ADDRESS:**
- **STREET 1:** 115 BROADWAY
- **STREET 2:** SUITE 05 141
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10006

## Series and Classes Contracts Data

### Goehring & Rozencwajg Resources Fund (Series ID: S000055275)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000173812 | Institutional Class Shares | GRHIX           |
| C000173813 | Retail Class Shares        | GRHAX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** GOEHRING & ROZENCWAJG INVESTMENT FUNDS

- **b. Investment Company Act file number:** 811-23177

- **c. CIK number of Registrant:** 0001680255

- **d. LEI of Registrant:** 549300V4E6KKGCXU1376

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 115 BROADWAY 5TH FLOOR

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10006

  - **Telephone number:** 6462169777

**Item A.2. Information about the Series.**

- **a. Name of Series:** Goehring & Rozencwajg Resources Fund

- **b. EDGAR series identifier (if any):** S000055275

- **c. LEI of Series:** 549300Y91FH02GJC8555

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-05-31

- **b. Date as of which information is reported:** 2025-11-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $728154673.42

**Total Liabilities:** $1449086.00

**Net Assets:** $726705587.42

**Cash Not Reported:** $1245598.26

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000173813 | 15.13%               | 0.71%                | 3.51%                |
| Class ID C000173812 | 15.23%               | 0.70%                | 3.56%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.01                    | $87003546.28                               |
| Month 2  | $22741583.51             | $-17332559.70                              |
| Month 3  | $313038.74               | $24907525.59                               |

### Schedule of Portfolio Investments

| Name                                        | Title                                                            | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Founders Metals Inc                         | Founders Metals, Inc.                                            | CUSIP: 350590105<br>LEI: 984500F8843F89AC8H21 | Long             | EC               | CORP              | CA        |    433897 | NS      | $1350640.06   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Natural Resources Inc                  | Core Natural Resources, Inc.                                     | CUSIP: 218937100<br>LEI: 549300YJCTPJBTK7IJ81 | Long             | EC               | CORP              | US        |    173131 | NS      | $13850480.00  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| African Gold Ltd                            | African Gold, Ltd.                                               | CUSIP: N/A<br>LEI: 984500E8DA1DE9A0D939       | Long             | EC               | CORP              | AU        |   1875796 | NS      | $387111.74    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Gmk Norilskiy Nickel Pao                    | GMK Norilskiy Nickel PAO                                         | CUSIP: 55315J102<br>LEI: 253400JPTEEW143W3E47 | Long             | EC               | CORP              | RU        |         5 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Birchcliff Energy Ltd                       | Birchcliff Energy, Ltd.                                          | CUSIP: 090697103<br>LEI: 5493000BBN3EF2L0XW29 | Long             | EC               | CORP              | CA        |   4122155 | NS      | $23185186.09  | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprott Physical Uranium Trust               | Sprott Physical Uranium Trust                                    | CUSIP: 85210A104<br>LEI: 5493007M22KSTRPCA127 | Long             | EC               | RF                | CA        |    802216 | NS      | $14351425.81  | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Civitas Resources Inc                       | Civitas Resources, Inc.                                          | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Long             | EC               | CORP              | US        |    127864 | NS      | $3755365.68   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| South Pacific Metals Corp                   | South Pacific Metals Corp                                        | CUSIP: 83914U104<br>LEI: 9845009036F7F4558753 | Long             | EC               | CORP              | CA        |   2361023 | NS      | $962352.97    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Orla Mining Ltd                             | Orla Mining, Ltd.                                                | CUSIP: 68634K106<br>LEI: 529900DU63EUQ1UZKL30 | Long             | EC               | CORP              | CA        |    445351 | NS      | $6230356.76   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Greenheart Gold Inc                         | Greenheart Gold, Inc.                                            | CUSIP: 39526E102<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    223162 | NS      | $143723.10    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Minera Alamos Inc                           | Minera Alamos, Inc.                                              | CUSIP: 60283L105<br>LEI: 254900I6L38EFNS8Z440 | Long             | EC               | CORP              | CA        |   6659395 | NS      | $2025290.98   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Triple Flag Precious Metals Corp            | Triple Flag Precious Metals Corp.                                | CUSIP: 89679M104<br>LEI: 254900R7NJ1TEYIM4E61 | Long             | EC               | CORP              | CA        |     38944 | NS      | $1306447.26   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutrien Ltd                                 | Nutrien Ltd.                                                     | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |    416545 | NS      | $24230422.65  | 3.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Artemis Gold Inc                            | Artemis Gold, Inc.                                               | CUSIP: 04302L100<br>LEI: 529900GXBX7DGL5YMO49 | Long             | EC               | CORP              | CA        |    275041 | NS      | $7199541.87   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Hercules Metals Corp                        | Hercules Metals Corp.                                            | CUSIP: 427086103<br>LEI: 894500C6CSRIL3D6RX81 | Long             | EC               | CORP              | CA        |   2277220 | NS      | $1018471.14   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Trilogy Metals Inc                          | Trilogy Metals, Inc.                                             | CUSIP: 89621C105<br>LEI: 52990084YC9OR0TUH237 | Long             | EC               | CORP              | CA        |    689701 | NS      | $2936578.02   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Orezone Gold Corp                           | Orezone Gold Corp.                                               | CUSIP: 68616T109<br>LEI: 529900ZRY6WGGRC9Z698 | Long             | EC               | CORP              | CA        |   3331617 | NS      | $3838350.83   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Hudbay Minerals Inc                         | Hudbay Minerals, Inc.                                            | CUSIP: 443628102<br>LEI: 894500LX3TMESP27BE29 | Long             | EC               | CORP              | CA        |    413690 | NS      | $7048523.31   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexgen Energy Ltd                           | NexGen Energy, Ltd.                                              | CUSIP: 65340P106<br>LEI: 529900N0IXNXB3IP7F06 | Long             | EC               | CORP              | CA        |    760449 | NS      | $6813623.04   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Metallic Mines Inc                    | Power Metallic Mines, Inc.                                       | CUSIP: 73929R105<br>LEI: 549300CR9SP6YYGW5003 | Long             | EC               | CORP              | CA        |   3486680 | NS      | $2420179.33   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Foran Mining Corp                           | Foran Mining Corp.                                               | CUSIP: 344911201<br>LEI: 529900LRYPIWB6RISB58 | Long             | EC               | CORP              | CA        |   2767440 | NS      | $8258059.18   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| K92 Mining Inc                              | K92 Mining, Inc.                                                 | CUSIP: 499113108<br>LEI: 254900EA8H0X9FEVZU11 | Long             | EC               | CORP              | CA        |    199864 | NS      | $3016302.38   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| United Co Rusal International Pjsc          | United Co. RUSAL International PJSC                              | CUSIP: N/A<br>LEI: 213800WNO9IQTTI4PG55       | Long             | EC               | CORP              | RU        |   1326798 | NS      | $0.17         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Valterra Platinum Ltd                       | Valterra Platinum, Ltd.                                          | CUSIP: N/A<br>LEI: 529900RORCZ0E5S5FX81       | Long             | EC               | CORP              | ZA        |    249774 | NS      | $17390877.61  | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-mcmoran Inc                        | Freeport-McMoRan, Inc.                                           | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |    119546 | NS      | $5138087.08   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Lundin Mining Corp                          | Lundin Mining Corp.                                              | CUSIP: 550372106<br>LEI: 549300FQDIM6C8HTN269 | Long             | EC               | CORP              | CA        |    278870 | NS      | $5210415.90   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp                      | Permian Resources Corp.                                          | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    256925 | NS      | $3722843.25   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Paladin Energy Ltd                          | Paladin Energy, Ltd.                                             | CUSIP: N/A<br>LEI: 549300M44UTJAP8J6B37       | Long             | EC               | CORP              | AU        |   1068228 | NS      | $5682771.12   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Endeavour Mining Plc                        | Endeavour Mining PLC                                             | CUSIP: N/A<br>LEI: 529900NI5MXQ91GHXR07       | Long             | EC               | CORP              | GB        |    174400 | NS      | $8008335.18   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Deep Yellow Ltd                             | Deep Yellow, Ltd.                                                | CUSIP: N/A<br>LEI: 529900FL7FGTGTVII319       | Long             | EC               | CORP              | AU        |   4507203 | NS      | $4827975.46   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Centrus Energy Corp                         | Centrus Energy Corp.                                             | CUSIP: 15643U104<br>LEI: 549300G6VDK9G8276661 | Long             | EC               | CORP              | US        |     86133 | NS      | $22334286.90  | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| First Quantum Minerals Ltd                  | First Quantum Minerals Ltd.                                      | CUSIP: 335934105<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | EC               | CORP              | CA        |    160894 | NS      | $3665866.37   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Bannerman Energy Ltd                        | Bannerman Energy, Ltd.                                           | CUSIP: N/A<br>LEI: 529900D04RI02L5UK707       | Long             | EC               | CORP              | AU        |   1943071 | NS      | $3819003.91   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Trilogy Metals Inc                          | Trilogy Metals, Inc.                                             | CUSIP: 89621C105<br>LEI: 52990084YC9OR0TUH237 | Long             | EC               | CORP              | CA        |     18700 | NS      | $80036.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Los Andes Copper Ltd                        | Los Andes Copper, Ltd.                                           | CUSIP: 544312200<br>LEI: 529900KB4NEC2LETLR81 | Long             | EC               | CORP              | CA        |     98742 | NS      | $621796.56    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Impala Platinum Holdings Ltd                | Impala Platinum Holdings, Ltd.                                   | CUSIP: 452553308<br>LEI: 254900BZFIFB4PD2Z778 | Long             | EC               | CORP              | ZA        |   1460787 | NS      | $18259837.50  | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Skeena Resources Ltd                        | Skeena Resources, Ltd.                                           | CUSIP: 83056P715<br>LEI: 549300DCWSQFVVZ21289 | Long             | EC               | CORP              | CA        |    319516 | NS      | $6628336.50   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Guardian Metal Resources Plc                | Guardian Metal Resources PLC                                     | CUSIP: N/A<br>LEI: 213800J4SKZAMUEPGW34       | Long             | EC               | CORP              | GB        |   3645898 | NS      | $4970845.50   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Ivanhoe Electric Inc / Us                   | Ivanhoe Electric, Inc.                                           | CUSIP: 46578C108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    899621 | NS      | $12873576.51  | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Valaris Ltd                                 | Valaris, Ltd.                                                    | CUSIP: G9460G101<br>LEI: 7N0UJMJLXD0MDT5D5086 | Long             | EC               | CORP              | BM        |    528575 | NS      | $29816915.75  | 4.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Eqt Corp                                    | EQT Corp.                                                        | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |    430822 | NS      | $26219826.92  | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Boss Energy Ltd                             | Boss Energy, Ltd.                                                | CUSIP: N/A<br>LEI: 9845000ED0A5F908A057       | Long             | EC               | CORP              | AU        |   1927040 | NS      | $2038935.25   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan American Silver Corp                    | Pan American Silver Corp.                                        | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |    100258 | NS      | $4578782.86   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc                      | Diamondback Energy, Inc.                                         | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |     42484 | NS      | $6482633.56   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                         | Minera Alamos, Inc. Warrants 2028 Restricted                     | CUSIP: 60283L113<br>LEI: N/A                  | N/A              | DE               | CORP              | CA        |   3861454 | NC      | $0.28         | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Mako Mining Corp                            | Mako Mining Corp.                                                | CUSIP: 56089A400<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    217465 | NS      | $1171785.36   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Natural Resources Ltd              | Canadian Natural Resources, Ltd.                                 | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |   1088023 | NS      | $36818925.66  | 5.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Seadrill Ltd                                | Seadrill, Ltd.                                                   | CUSIP: G7997W102<br>LEI: 213800EQ6L456U2JCO89 | Long             | EC               | CORP              | BM        |    951582 | NS      | $29042282.64  | 4.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Tidewater Inc                               | Tidewater, Inc.                                                  | CUSIP: 88642R109<br>LEI: 2549000JA5GRUPLMUH98 | Long             | EC               | CORP              | US        |      3914 | NS      | $211434.28    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Bellevue Gold Ltd                           | Bellevue Gold, Ltd.                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |   2344060 | NS      | $2034814.30   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Denison Mines Corp                          | Denison Mines Corp.                                              | CUSIP: 248356107<br>LEI: 529900JWGSW17LJK6586 | Long             | EC               | CORP              | CA        |   1978924 | NS      | $5066045.44   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Chilean Metals Inc                          | Chilean Metals, Inc.                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |     70046 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Montage Gold Corp                           | Montage Gold Corp.                                               | CUSIP: 61178L101<br>LEI: 9845004C6BCE77ACA795 | Long             | EC               | CORP              | CA        |   1005626 | NS      | $6109531.46   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Oceaneering International Inc               | Oceaneering International, Inc.                                  | CUSIP: 675232102<br>LEI: 549300L6PH74701W0R30 | Long             | EC               | CORP              | US        |    284401 | NS      | $6939384.40   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| G Mining Ventures Corp                      | G Mining Ventures Corp.                                          | CUSIP: 36270K102<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    276392 | NS      | $6552554.25   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Ur-energy Inc                               | Ur-Energy, Inc.                                                  | CUSIP: 91688R108<br>LEI: 5493004ZEMNWEC7T6X93 | Long             | EC               | CORP              | CA        |   1736196 | NS      | $2274416.76   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corp                                 | Cameco Corp.                                                     | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |    341916 | NS      | $30262985.16  | 4.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Alpha Metallurgical Resources Inc           | Alpha Metallurgical Resources, Inc.                              | CUSIP: 020764106<br>LEI: 254900VEBGZO2PY8R678 | Long             | EC               | CORP              | US        |     45121 | NS      | $7183714.41   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co                        | Matador Resources Co.                                            | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |    171220 | NS      | $7259728.00   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Caledonia Mining Corp Plc                   | Caledonia Mining Corp. PLC                                       | CUSIP: G1757E113<br>LEI: 21380093ZBI4BFM75Y51 | Long             | EC               | CORP              | JE        |    103155 | NS      | $3178205.55   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Resources Corp                       | Antero Resources Corp.                                           | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |    601052 | NS      | $21896324.36  | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Asante Gold Corp                            | Asante Gold Corp.                                                | CUSIP: 04341X107<br>LEI: 529900F9PV1G9S5YD446 | Long             | EC               | CORP              | CA        |   1456690 | NS      | $2147326.49   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Slb Ltd                                     | SLB, Ltd.                                                        | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |    120180 | NS      | $4355323.20   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinox Gold Corp                           | Equinox Gold Corp.                                               | CUSIP: 29446Y502<br>LEI: 5493005IN4V1SNP9PN75 | Long             | EC               | CORP              | CA        |    834245 | NS      | $11676863.00  | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Ivanhoe Mines Ltd                           | Ivanhoe Mines Ltd. - Class A                                     | CUSIP: 46579R104<br>LEI: 5299006XZISURYIA4G32 | Long             | EC               | CORP              | CA        |    629853 | NS      | $6589467.14   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                         | Guardian Metal Resources Warrants EXP 08/28/2026                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |   1597128 | NC      | $1331891.35   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Uranium Energy Corp                         | Uranium Energy Corp.                                             | CUSIP: 916896103<br>LEI: 549300VD69WD2USLIP04 | Long             | EC               | CORP              | US        |    911721 | NS      | $11186816.67  | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamos Gold Inc                             | Alamos Gold, Inc.                                                | CUSIP: 011532108<br>LEI: 894500GIHFJZW7YS9660 | Long             | EC               | CORP              | CA        |    445870 | NS      | $16720125.00  | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Intrepid Potash Inc                         | Intrepid Potash, Inc.                                            | CUSIP: 46121Y201<br>LEI: 549300OZ696E2PRRTO45 | Long             | EC               | CORP              | US        |    110354 | NS      | $2791956.20   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Valterra Platinum Ltd                       | Valterra Platinum, Ltd. ADR                                      | CUSIP: 03486T202<br>LEI: 529900RORCZ0E5S5FX81 | Long             | EC               | CORP              | ZA        |   1413889 | NS      | $16245584.61  | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Nac Kazatomprom Jsc                         | NAC Kazatomprom JSC                                              | CUSIP: 63253R201<br>LEI: 5493008JG5TXJP2JSY44 | Long             | EC               | CORP              | KZ        |    102466 | NS      | $5666369.80   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Expand Energy Corp                          | Expand Energy Corp.                                              | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |     84389 | NS      | $10289550.72  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Mountain Province Diamonds Inc              | Mountain Province Diamonds, Inc.                                 | CUSIP: 62426E402<br>LEI: 549300Y5548SJTH51N28 | Long             | EC               | CORP              | CA        |    317715 | NS      | $17051.51     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Novagold Resources Inc                      | Novagold Resources, Inc.                                         | CUSIP: 66987E206<br>LEI: 529900587LVZTJ2BHS60 | Long             | EC               | CORP              | CA        |    457999 | NS      | $4667009.81   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Sibanye Stillwater Ltd                      | Sibanye Stillwater, Ltd.                                         | CUSIP: 82575P107<br>LEI: 378900F238434B74D281 | Long             | EC               | CORP              | ZA        |   1781071 | NS      | $23741676.43  | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Noble Corp Plc                              | Noble Corp. PLC                                                  | CUSIP: G65431127<br>LEI: 549300I3HBUNXO0OG954 | Long             | EC               | CORP              | GB        |    715378 | NS      | $21904874.36  | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Gogold Resources Inc                        | GoGold Resources, Inc.                                           | CUSIP: 38045Y102<br>LEI: 549300PNCGJ26Y676N19 | Long             | EC               | CORP              | CA        |   1454328 | NS      | $2716230.33   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Loncor Gold Inc                             | Loncor Gold, Inc.                                                | CUSIP: 54180A106<br>LEI: 984500A3C7E387C68B41 | Long             | EC               | CORP              | CA        |   4967284 | NS      | $4798621.35   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Amerigo Resources Ltd                       | Amerigo Resources Ltd.                                           | CUSIP: 03074G109<br>LEI: 5299000WW697YX8VQX13 | Long             | EC               | CORP              | CA        |   1518150 | NS      | $4095620.95   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixton Metals Corp                         | Brixton Metals Corp.                                             | CUSIP: 11120Q302<br>LEI: 254900N5DFREO3U52485 | Long             | EC               | CORP              | CA        |   5696280 | NS      | $264952.74    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Encore Energy Corp                          | Encore Energy Corp.                                              | CUSIP: 29259W700<br>LEI: 5299007FNX2NVNJM3O59 | Long             | EC               | CORP              | CA        |    614418 | NS      | $1677361.14   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Gmk Norilskiy Nickel Pao                    | GMK Norilskiy Nickel PAO                                         | CUSIP: N/A<br>LEI: 253400JPTEEW143W3E47       | Long             | EC               | CORP              | RU        |    285500 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Borr Drilling Ltd                           | Borr Drilling, Ltd.                                              | CUSIP: G1466R173<br>LEI: 213800J2JPCTXLHQ5R78 | Long             | EC               | CORP              | BM        |    823313 | NS      | $2725166.03   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Range Resources Corp                        | Range Resources Corp.                                            | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |   1017968 | NS      | $40199556.32  | 5.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Comstock Resources Inc                      | Comstock Resources, Inc.                                         | CUSIP: 205768302<br>LEI: I03QQGEA4SS774AURI46 | Long             | EC               | CORP              | US        |    324913 | NS      | $8727163.18   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Gunnison Copper Corp                        | Gunnison Copper Corp.                                            | CUSIP: 402880108<br>LEI: 529900D3J6SRW92GKY67 | Long             | EC               | CORP              | CA        |    635000 | NS      | $154495.69    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Erdene Resource Development Corp            | Erdene Resource Development Corp.                                | CUSIP: 29480N404<br>LEI: 529900T4O899O2ZM8216 | Long             | EC               | CORP              | CA        |    724153 | NS      | $3922742.82   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Treasury Securities Cash Management | Dreyfus Treasury Securities Cash Management, Institutional Class | CUSIP: 261941108<br>LEI: 549300U78VESCW509025 | Long             | STIV             | RF                | US        |   7015771 | NS      | $7015770.92   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Mosaic Co/the                               | Mosaic Co.                                                       | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |    226954 | NS      | $5558103.46   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Omai Gold Mines Corp                        | Omai Gold Mines Corp.                                            | CUSIP: 682043104<br>LEI: 254900GOHPZOKN6K3C88 | Long             | EC               | CORP              | CA        |   1067255 | NS      | $992830.87    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Fuels Inc/canada                     | Energy Fuels, Inc.                                               | CUSIP: 292671708<br>LEI: 529900P0GCATXMGK8I62 | Long             | EC               | CORP              | CA        |    615496 | NS      | $8863142.40   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-30

**Name of Applicant:** GOEHRING & ROZENCWAJG INVESTMENT FUNDS

**Signature:** Kevin OFriel

**Name of Signer:** Kevin OFriel

**Title:** Chief Operating Officer/Chief Compliance Officer