Hedges Asset Management LLC
Reported holdings as of Q3 2026, from 19 quarterly filings.
Holdings
Download these holdings as CSV
| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| GLACIER BANCORP INC NEW | GBCI | $13.0M | 300,712 | -0.98pp | 19q | +1.7%+$216.0K | |
| GE AEROSPACE | GE | $6.1M | 19,425 | -0.56pp | 19q | HELD | |
| BOEING CO | BA | $5.1M | 27,600 | -0.35pp | 19q | HELD | |
| SHELL PLC | SHEL | $4.3M | 45,200 | +0.52pp | 18q | -6.8%-$313.7K | |
| PROSHARES TR | PSQ | $3.8M | 154,400 | +0.16pp | 9q | +1.4%+$54.6K | |
| SOUTHWEST AIRLS CO | LUV | $3.6M | 87,150 | -0.29pp | 19q | +4.5%+$156.2K | |
| BP PLC | BP | $3.5M | 78,847 | +0.59pp | 19q | +5.1%+$166.8K | |
| INTEL CORP | INTC | $3.3M | 27,100 | -0.82pp | 19q | -19.5%-$787.5K | |
| VANECK ETF TRUST | GDX | $3.2M | 36,350 | +0.41pp | 19q | -0.5%-$17.6K | |
| GAMING & LEISURE P | GLPI | $3.0M | 78,260 | -0.22pp | 19q | HELD | |
| CNH INDL N V | CNH | $2.8M | 221,750 | +0.23pp | 11q | -6.8%-$208.8K | |
| ARCOS DORADOS HLDGS INC | ARCO | $2.8M | 394,000 | +0.11pp | 19q | +12.6%+$316.0K | |
| PENN ENTERTAINMENT INC | PENN | $2.8M | 188,900 | -0.73pp | 19q | HELD | |
| VAIL RESORTS INC | MTN | $2.5M | 18,550 | +0.11pp | 2q | HELD | |
| DOW HLDGS INC | DOW | $2.3M | 82,900 | +0.19pp | 19q | +6.3%+$134.9K | |
| IMAX CORP | IMAX | $2.3M | 41,550 | +0.35pp | 3q | -11.9%-$306.9K | |
| LINDBLAD EXPEDITIONS HLDGS ICOM | LIND | $2.2M | 71,050 | +0.07pp | 19q | -11.0%-$275.0K | |
| BARRICK MNG CORP | B | $2.2M | 54,550 | +0.23pp | 5q | HELD | |
| BARCLAYS PLC | BCS | $2.2M | 90,500 | -0.14pp | 3q | -4.2%-$97.1K | |
| HONEYWELL AEROSPACE INC | HONA | $2.1M | 13,575 | +0.81pp | 2q | +203.4%+$1.4M | |
| NEWMONT CORP | NEM | $2.1M | 18,000 | +0.30pp | 19q | -3.5%-$75.0K | |
| PROSHARES TR | SH | $2.1M | 63,700 | +0.04pp | 3q | -0.8%-$16.2K | |
| PAN AMERN SILVER CORP | PAAS | $2.0M | 43,065 | +0.10pp | 4q | HELD | |
| SPROTT ASSET MANAGEMENT LP | PHYS | $1.9M | 61,000 | +0.12pp | 19q | HELD | |
| COEUR MNG INC | CDE | $1.9M | 108,200 | +0.11pp | 2q | -4.1%-$81.2K | |
| WYNN RESORTS LTD | WYNN | $1.8M | 22,515 | +0.03pp | 19q | +18.4%+$278.0K | |
| VANGUARD INTL EQUITY INDEX F | VGK | $1.7M | 20,000 | -0.01pp | 19q | -4.8%-$86.8K | |
| ELANCO ANIMAL HEALTH INC | ELAN | $1.7M | 74,500 | -0.05pp | 18q | -0.7%-$11.2K | |
| TARGET CORP | TGT | $1.7M | 10,550 | +0.27pp | 3q | +3.4%+$54.8K | |
| UNITED PARCEL SVCS INC | UPS | $1.6M | 17,200 | -0.05pp | 19q | +4.2%+$65.4K | |
| VERIZON COMMUNICATIONS INC | VZ | $1.6M | 34,750 | -0.01pp | 19q | -13.4%-$247.7K | |
| FMC CORP | FMC | $1.5M | 169,400 | -0.35pp | 11q | -8.9%-$147.2K | |
| VIATRIS INC | VTRS | $1.4M | 81,000 | +0.15pp | 19q | HELD | |
| SLB LIMITED | SLB | $1.4M | 28,700 | +0.10pp | 19q | HELD | |
| MERCK & CO INC | MRK | $1.4M | 9,500 | +0.08pp | 19q | -9.1%-$138.0K | |
| ABRDN PLATINUM ETF TRUST | PPLT | $1.4M | 89,500 | +0.13pp | 7q | HELD | |
| TYSON FOODS INC | TSN | $1.4M | 26,850 | +0.16pp | 9q | +28.8%+$303.2K | |
| CRISPR THERAPEUTICS AG | CRSP | $1.4M | 24,425 | +0.06pp | 19q | -0.6%-$8.3K | |
| UNILEVER PLC | UL | $1.3M | 22,150 | +0.06pp | 3q | HELD | |
| LOEWS CORP | L | $1.3M | 12,700 | -0.02pp | 19q | HELD | |
| WEYERHAEUSER CO | WY | $1.3M | 68,750 | -0.06pp | 8q | +11.3%+$133.4K | |
| INTERNATIONAL FLAVORS&FRAGRA | IFF | $1.2M | 14,300 | +0.08pp | 13q | HELD | |
| NOVO-NORDISK A S | NVO | $1.2M | 31,400 | -0.13pp | 2q | +3.3%+$37.9K | |
| MEDTRONIC PLC | MDT | $1.2M | 13,550 | +0.09pp | 19q | -3.6%-$43.1K | |
| CHEVRON CORPORATION | CVX | $1.2M | 5,700 | +0.16pp | 19q | -4.2%-$51.1K | |
| KRAFT HEINZ CO | KHC | $1.1M | 49,050 | -0.04pp | 12q | -6.7%-$79.5K | |
| GOODYEAR TIRE & RUBR CO | GT | $1.1M | 221,000 | -0.09pp | 18q | +11.6%+$114.3K | |
| MCCORMICK & CO INC | MKC | $1.0M | 22,300 | -0.03pp | 2q | -0.9%-$9.3K | |
| WELLS FARGO & CO | WFC | $1.0M | 12,750 | -0.13pp | 19q | -17.7%-$220.1K | |
| CINEMARK HLDGS INC | CNK | $1.0M | 26,950 | +0.13pp | 19q | -0.9%-$9.3K | |
| NUTANIX INC | NTNX | $985.7K | 14,000 | +0.06pp | 19q | -25.5%-$338.0K | |
| WILLIAMS COS INC | WMB | $965.2K | 14,200 | -0.06pp | 19q | -4.7%-$47.6K | |
| BRISTOL-MYERS SQUIBB CO | BMY | $951.6K | 15,250 | +0.08pp | 19q | HELD | |
| FORD MTR CO | F | $951.5K | 78,900 | -0.13pp | 19q | -8.7%-$90.5K | |
| DISNEY WALT CO | DIS | $886.4K | 8,450 | +0.03pp | 15q | -8.2%-$78.7K | |
| FIGS INC | FIGS | $880.1K | 63,500 | +0.19pp | 10q | HELD | |
| SHAKE SHACK INC | SHAK | $818.6K | 13,950 | +0.06pp | 19q | HELD | |
| INTERNATIONAL BUSINESS MACHS | IBM | $813.7K | 3,700 | -0.23pp | 19q | -14.0%-$132.0K | |
| CHARLES SCHWAB CORP (THE) | SCHW | $781.9K | 8,000 | +0.02pp | 19q | -8.0%-$68.4K | |
| NUTRIEN LTD | NTR | $695.5K | 9,900 | +0.07pp | 7q | HELD | |
| ISHARES SILVER TR | SLV | $681.4K | 12,500 | +0.03pp | 19q | HELD | |
| 3M CO | MMM | $681.2K | 4,150 | +0.03pp | 19q | HELD | |
| FEDEX CORP | FDX | $670.0K | 2,350 | -0.02pp | 19q | HELD | |
| DUTCH BROS INC | BROS | $667.1K | 17,300 | -0.06pp | 14q | +55.9%+$239.1K | |
| V F CORP | VFC | $660.8K | 47,000 | - | new | NEW | |
| BANK OF AMER CORP | BAC | $653.2K | 12,000 | -0.10pp | 19q | -18.4%-$147.0K | |
| ISHARES TR | EUFN | $636.5K | 16,000 | -0.04pp | 19q | -15.8%-$119.3K | |
| MOBILEYE GLOBAL INC | MBLY | $627.8K | 84,950 | -0.11pp | 3q | HELD | |
| ADVISORSHARES TR | MSOS | $569.5K | 126,000 | -0.07pp | 18q | -10.6%-$67.8K | |
| SOCIEDAD QUIMICA Y MINERA DE | SQM | $564.4K | 8,700 | -0.03pp | 19q | HELD | |
| ALASKA AIR GROUP INC | ALK | $553.4K | 14,300 | -0.11pp | 2q | HELD | |
| AIRBNB INC | ABNB | $538.2K | 3,350 | +0.06pp | 8q | HELD | |
| HONDA MOTOR CO LTD | HMC | $524.6K | 16,600 | +0.07pp | 18q | -1.2%-$6.3K | |
| KRANESHARES TRUST | KWEB | $470.6K | 19,200 | +0.02pp | 18q | HELD | |
| HONEYWELL INTL INC | HON | $469.3K | 2,225 | -0.33pp | 2q | -50.3%-$474.6K | |
| ISHARES TR | IEV | $462.3K | 6,500 | +0.01pp | 19q | HELD | |
| ENVISTA HOLDINGS CORPORATION | NVST | $428.3K | 18,250 | -0.03pp | 9q | -2.7%-$11.7K | |
| PROSHARES TR | DOG | $426.5K | 19,150 | +0.09pp | 4q | +34.4%+$109.1K | |
| MGM RESORTS INTERNATIONAL | MGM | $388.1K | 12,500 | -0.23pp | 19q | -21.9%-$108.7K | |
| ISHARES TR | FXI | $387.8K | 11,400 | +0.03pp | 10q | HELD | |
| WHEATON PRECIOUS METALS CORP | WPM | $387.8K | 2,900 | +0.06pp | 9q | HELD | |
| VANGUARD INTL EQUITY INDEX F | VEU | $381.7K | 4,600 | +0.01pp | 19q | HELD | |
| ROGERS CORP | ROG | $378.6K | 2,475 | -0.02pp | 10q | -5.7%-$22.9K | |
| WISDOMTREE TR | DFE | $372.3K | 5,000 | +0.02pp | 19q | HELD | |
| HELMERICH & PAYNE INC | HP | $351.0K | 9,450 | flat | 5q | -15.6%-$65.0K | |
| LITHIUM AMERS CORP NEW | LAC | $348.5K | 132,500 | +0.01pp | 11q | +47.2%+$111.8K | |
| CAMECO CORP | CCJ | $320.7K | 3,700 | -0.02pp | 5q | HELD | |
| KINDER MORGAN INC DEL | KMI | $316.6K | 10,500 | flat | 19q | HELD | |
| ISHARES TR | EEM | $313.9K | 4,700 | +0.01pp | 6q | HELD | |
| INVESCO EXCHANGE TRADED FD T | RSP | $312.0K | 1,500 | +0.01pp | 19q | HELD | |
| DOCUSIGN INC | DOCU | $302.2K | 4,500 | +0.05pp | 2q | -18.2%-$67.2K | |
| EDWARDS LIFESCIENCES CORP | EW | $302.1K | 3,500 | flat | 3q | HELD | |
| PFIZER INC | PFE | $299.5K | 10,500 | +0.05pp | 2q | +4.0%+$11.4K | |
| INSPIRE MED SYS INC | INSP | $298.2K | 4,300 | -0.05pp | 4q | -50.6%-$305.2K | |
| VANGUARD TAX-MANAGED FDS | VEA | $282.4K | 4,000 | +0.01pp | 6q | HELD | |
| CONOCOPHILLIPS | COP | $269.1K | 2,150 | flat | 19q | -20.4%-$68.8K | |
| DELTA AIR LINES INC | DAL | $250.4K | 3,000 | -0.02pp | 4q | -6.2%-$16.7K | |
| FRANCO NEV CORP | FNV | $250.0K | 1,050 | +0.03pp | 4q | HELD | |
| ALIBABA GROUP HLDG LTD | BABA | $247.3K | 2,300 | - | new | NEW | |
| FIDELITY ETHEREUM FD | FETH | $239.1K | 9,000 | +0.05pp | 2q | -18.2%-$53.1K | |
| GRANITE CONSTR INC | GVA | $231.8K | 2,000 | -0.05pp | 8q | HELD | |
| MCDONALDS CORP | MCD | $230.9K | 1,000 | -0.02pp | 19q | HELD | |
| COREWEAVE INC | CRWV | $209.1K | 2,400 | -0.01pp | 2q | HELD | |
| WABTEC | WAB | $201.0K | 700 | -0.04pp | 19q | -30.0%-$86.2K | |
| TELEFONAKTIEBOLAGET LM ERICS | ERIC | $164.7K | 18,000 | -0.02pp | 19q | HELD | |
| STELLANTIS N.V | STLA | $65.4K | 15,000 | -0.01pp | 2q | HELD |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Banks & Lending | $17.1M | 11.9% |
| Energy | $12.2M | 8.5% |
| Mining & Metals | $10.0M | 7.0% |
| Semiconductors & Electronics | $9.5M | 6.6% |
| Autos & Aerospace | $9.5M | 6.6% |
| Transport & Logistics | $8.9M | 6.2% |
| Chemicals | $8.5M | 5.9% |
| Biotech & Pharma | $8.3M | 5.7% |
| Retail & Consumer | $7.7M | 5.4% |
| Telecom & Media | $6.0M | 4.2% |
| Business Services | $5.7M | 4.0% |
| Capital Markets | $4.7M | 3.3% |
| Other sectors | $20.3M | 14.1% |
| Not classified | $15.4M | 10.7% |
What the disclosed book did
This is not the fund's return. A 13F shows long US equity positions only, so shorts, bonds, foreign listings, private holdings and cash are all invisible here. What this measures is the quarter's change in value of the positions this manager disclosed, had they been left untouched - the return a reader following the filing would have earned.
| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q3 2026 | -4.2% | +2.1% | -6.3% | 100% |
| Q1 2026 | +4.5% | -4.6% | +9.2% | 98% |
| Q4 2025 | +3.0% | +2.4% | +0.7% | 100% |
| Q3 2025 | +8.9% | +7.8% | +1.1% | 100% |
| Q2 2025 | +6.4% | +10.5% | -4.1% | 106% |
| Q1 2025 | +2.1% | -4.6% | +6.6% | 100% |
| Q4 2024 | -1.0% | +2.1% | -3.1% | 100% |
| Q3 2024 | +6.8% | +5.4% | +1.4% | 100% |
Market is SPY over the same two quarter ends, priced the same way as everything else here - the median across every filer reporting it. It is a large-cap US proxy, so a manager holding small caps or biotech will beat or trail it for reasons that are not skill. Prices are quarter-end to quarter-end and say nothing about the path in between, or about trades opened and closed inside a quarter.
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q3 2026 | $144.0M | 106 | 2 | 18 | 43 | 4 | 33.9% | 29 |
| Q2 2026 | $152.4M | 108 | 13 | 23 | 53 | 13 | 36.4% | 27 |
| Q4 2025 | $141.8M | 108 | 11 | 20 | 33 | 5 | 34.1% | 27 |
| Q3 2025 | $130.6M | 102 | 9 | 19 | 26 | 8 | 37.1% | 8 |
| Q2 2025 | $124.5M | 101 | 5 | 8 | 64 | 12 | 36.1% | 7 |
| Q1 2025 | $152.2M | 108 | 3 | 15 | 31 | 5 | 34.3% | 24 |
| Q4 2024 | $151.5M | 110 | 3 | 28 | 21 | 5 | 34.7% | 17 |
| Q3 2024 | $151.1M | 112 | 5 | 27 | 29 | 4 | 33.8% | 24 |
| Q2 2024 | $139.3M | 111 | 6 | 18 | 44 | 8 | 33.1% | 19 |
| Q1 2024 | $142.7M | 113 | 11 | 23 | 29 | 4 | 34.1% | 24 |
| Q4 2023 | $128.0M | 106 | 6 | 22 | 32 | 7 | 37.5% | 10 |
| Q3 2023 | $114.5M | 107 | 5 | 24 | 27 | 4 | 35.9% | 31 |
| Q2 2023 | $118.0M | 106 | 4 | 18 | 22 | 1 | 35.6% | 13 |
| Q1 2023 | $117.9M | 103 | 3 | 38 | 26 | 7 | 38.9% | 18 |
| Q4 2022 | $112.0M | 107 | 9 | 25 | 25 | 5 | 42.0% | 34 |
| Q3 2022 | $100.2M | 103 | 3 | 15 | 21 | 2 | 42.4% | 18 |
| Q2 2022 | $105.9M | 102 | 2 | 20 | 19 | 11 | 40.8% | 26 |
| Q1 2022 | $129.1M | 111 | 8 | 26 | 17 | 17 | 38.0% | 40 |
| Q4 2021 | $128.6M | 120 | 0 | 0 | 0 | 0 | 38.5% | 39 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.