2025 Q4 Portfolio Activity
In 2025 Q4, Hedges Asset Management LLC maintained a portfolio of 112 distinct positions. The most significant new addition was BARCLAYS PLC, now representing 2.16% of the total fund value. They heavily accumulated shares in HONEYWELL INTL INC, increasing the position by 177.5%. The fund also reduced its exposure to WARNER BROS DISCOVERY INC by 86.9%.
Position History
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Total Positions
112
Quarter
2025 Q4
Top Holding
GBCI (9.2%)
Top 10 Concentration
34.1%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 112
Hedges Asset Management LLC Full Holdings List — 2025 Q4
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
GBCI
GLACIER BANCORP...
|
Financial Services | 9.17% | 10.82% |
#1
Prev: #1
|
6.2 |
—
|
5,000 | 1.7% |
P
S
|
295,223 | $13,004,573 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
GE
GE AEROSPACE
|
Industrials | 4.71% | 5.29% |
#2
Prev: #2
|
3.9 |
—
|
-1,250 | -5.4% |
P
S
|
21,700 | $6,684,251 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BA
BOEING CO
|
Industrials | 3.92% | 4.08% |
#3
Prev: #3
|
3.1 |
—
|
950 | 3.9% |
P
S
|
25,600 | $5,558,272 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SHEL
SHELL PLC
|
Energy | 2.91% | 3.07% |
#4
Prev: #4
|
2.7 |
—
|
no change | no change |
P
S
|
56,100 | $4,122,228 | 2022 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
LUV
SOUTHWEST AIRLS...
|
Industrials | 2.63% | 2.22% |
#5
3
Prev: #8
|
2.1 |
—
|
-700 | -0.8% |
P
S
|
90,100 | $3,723,833 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
GLPI
GAMING & LEISUR...
|
Real Estate | 2.47% | 2.79% |
#6
1
Prev: #5
|
2.0 |
—
|
no change | no change |
P
S
|
78,260 | $3,497,439 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
GDX
VANECK ETF TRUS...
|
ETF | 2.41% | 2.33% |
#7
Prev: #7
|
2.0 |
—
|
no change | no change |
P
S
|
39,900 | $3,422,223 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BCS
BARCLAYS PLC
|
Financial Services | 2.16% | — |
#8
Prev: #—
|
4.4 |
—
|
120,500 | — |
NEW
|
120,500 | $3,066,725 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
PENN
PENN ENTERTAINM...
|
Consumer Cyclical | 1.89% | 2.60% |
#9
3
Prev: #6
|
1.3 |
—
|
6,000 | 3.4% |
P
S
|
182,150 | $2,686,713 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BP
BP PLC
|
Energy | 1.84% | 1.98% |
#10
1
Prev: #9
|
1.2 |
—
|
211 | 0.3% |
P
S
|
75,067 | $2,607,063 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SH
PROSHARES TR
|
ETF | 1.75% | — |
#11
Prev: #—
|
4.2 |
—
|
69,000 | — |
NEW
|
69,000 | $2,486,070 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
PAAS
PAN AMERN SILVE...
|
Basic Materials | 1.63% | 1.42% |
#12
6
Prev: #18
|
1.2 |
—
|
-3,381 | -7.1% |
P
S
|
44,572 | $2,309,276 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
B
BARRICK MNG COR...
|
Basic Materials | 1.62% | 1.53% |
#13
2
Prev: #15
|
1.1 |
—
|
-8,200 | -13.4% |
P
S
|
52,800 | $2,299,440 | 2025 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
WYNN
WYNN RESORTS LT...
|
Consumer Cyclical | 1.61% | 1.91% |
#14
4
Prev: #10
|
1.1 |
—
|
-400 | -2.1% |
P
S
|
19,015 | $2,288,076 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
NGD
NEW GOLD INC CD...
|
Basic Materials | 1.58% | 1.47% |
#15
2
Prev: #17
|
1.1 |
—
|
-10,000 | -3.7% |
P
S
|
257,500 | $2,242,825 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
VZ
VERIZON COMMUNI...
|
Communication Services | 1.58% | 1.84% |
#16
5
Prev: #11
|
1.1 |
—
|
300 | 0.5% |
P
S
|
54,850 | $2,234,041 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
PHYS
SPROTT ASSET MA...
|
Unknown | 1.51% | 1.47% |
#17
1
Prev: #16
|
1.6 |
—
|
no change | no change |
P
S
|
65,000 | $2,146,300 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
ARCO
ARCOS DORADOS H...
|
Consumer Cyclical | 1.49% | 1.55% |
#18
4
Prev: #14
|
1.1 |
—
|
-11,200 | -3.7% |
P
S
|
287,900 | $2,113,186 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
IMAX
IMAX CORP
|
Communication Services | 1.47% | — |
#19
Prev: #—
|
4.1 |
—
|
56,500 | — |
NEW
|
56,500 | $2,088,240 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
PSQ
PROSHARES TR
|
ETF | 1.45% | 1.71% |
#20
8
Prev: #12
|
1.1 |
—
|
-3,600 | -5.0% |
P
S
|
68,300 | $2,062,660 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
LIND
LINDBLAD EXPEDI...
|
Consumer Cyclical | 1.42% | 1.39% |
#21
1
Prev: #20
|
1.1 |
—
|
-1,400 | -1.0% |
P
S
|
139,900 | $2,017,358 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
INTC
INTEL CORP
|
Technology | 1.36% | 1.35% |
#22
1
Prev: #21
|
1.0 |
—
|
-200 | -0.4% |
P
S
|
52,400 | $1,933,560 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
DOW
DOW INC
|
Basic Materials | 1.36% | 1.42% |
#23
4
Prev: #19
|
1.0 |
—
|
1,300 | 1.6% |
P
S
|
82,200 | $1,921,836 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
NEM
NEWMONT CORP
|
Basic Materials | 1.33% | 1.22% |
#24
Prev: #24
|
1.0 |
—
|
-100 | -0.5% |
P
S
|
18,850 | $1,882,173 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
PPLT
ABRDN PLATINUM ...
|
ETF | 1.24% | 1.05% |
#25
8
Prev: #33
|
1.0 |
—
|
-150 | -1.6% |
P
S
|
9,450 | $1,761,764 | 2024 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
VGK
VANGUARD INTL E...
|
ETF | 1.24% | 1.28% |
#26
3
Prev: #23
|
1.5 |
—
|
no change | no change |
P
S
|
21,000 | $1,755,810 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
HON
HONEYWELL INTL ...
|
Industrials | 1.23% | 0.52% |
#27
33
Prev: #60
|
3.5 |
—
|
5,725 | 177.5% |
P
S
|
8,950 | $1,746,056 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
ELAN
ELANCO ANIMAL H...
|
Healthcare | 1.21% | 1.18% |
#28
2
Prev: #26
|
1.0 |
—
|
-500 | -0.7% |
P
S
|
76,000 | $1,719,880 | 2022 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
LYFT
LYFT INC
|
Technology | 1.20% | 1.61% |
#29
16
Prev: #13
|
1.0 |
—
|
-7,900 | -8.3% |
P
S
|
87,600 | $1,696,812 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CVX
CHEVRON CORP NE...
|
Energy | 1.19% | 1.32% |
#30
8
Prev: #22
|
1.5 |
—
|
no change | no change |
P
S
|
11,100 | $1,691,751 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
FDX
FEDEX CORP
|
Industrials | 1.17% | 1.04% |
#31
3
Prev: #34
|
1.5 |
—
|
no change | no change |
P
S
|
5,750 | $1,660,945 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
UL
UNILEVER PLC
|
Consumer Defensive | 1.07% | 1.18% |
#32
7
Prev: #25
|
0.9 |
—
|
-2,897 | -11.1% |
P
S
|
23,103 | $1,510,937 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
WFC
WELLS FARGO CO ...
|
Financial Services | 1.05% | 1.12% |
#33
5
Prev: #28
|
0.9 |
—
|
-1,500 | -8.6% |
P
S
|
16,000 | $1,491,200 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BKD
BROOKDALE SR LI...
|
Healthcare | 1.04% | 0.92% |
#34
5
Prev: #39
|
0.9 |
—
|
-5,000 | -3.5% |
P
S
|
137,000 | $1,478,230 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
MRK
MERCK & CO INC
|
Healthcare | 1.03% | 0.89% |
#35
7
Prev: #42
|
1.4 |
—
|
no change | no change |
P
S
|
13,900 | $1,463,114 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
FMC
FMC CORP
|
Basic Materials | 0.98% | 1.06% |
#36
5
Prev: #31
|
3.4 |
—
|
58,800 | 142.4% |
P
S
|
100,100 | $1,388,387 | 2023 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
IBM
INTERNATIONAL B...
|
Technology | 0.96% | 1.04% |
#37
2
Prev: #35
|
0.9 |
—
|
-200 | -4.2% |
P
S
|
4,600 | $1,362,566 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
L
LOEWS CORP
|
Financial Services | 0.94% | 0.98% |
#38
2
Prev: #36
|
1.4 |
—
|
no change | no change |
P
S
|
12,700 | $1,337,437 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SLB
SLB LIMITED
|
Energy | 0.94% | 0.92% |
#39
1
Prev: #38
|
0.9 |
—
|
-300 | -0.9% |
P
S
|
34,700 | $1,331,786 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
WY
WEYERHAEUSER CO...
|
Real Estate | 0.93% | 0.70% |
#40
7
Prev: #47
|
3.4 |
—
|
18,500 | 50.0% |
P
S
|
55,500 | $1,314,795 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
F
FORD MTR CO
|
Consumer Cyclical | 0.87% | 0.86% |
#41
4
Prev: #45
|
1.3 |
—
|
no change | no change |
P
S
|
93,700 | $1,229,344 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
TSN
TYSON FOODS INC
|
Consumer Defensive | 0.86% | 0.86% |
#42
2
Prev: #44
|
1.3 |
—
|
no change | no change |
P
S
|
20,750 | $1,216,365 | 2024 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CRSP
CRISPR THERAPEU...
|
Healthcare | 0.84% | 1.12% |
#43
14
Prev: #29
|
0.8 |
—
|
275 | 1.2% |
P
S
|
22,775 | $1,194,321 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CNH
CNH INDL N V
|
Industrials | 0.79% | 0.91% |
#44
3
Prev: #41
|
2.3 |
—
|
11,500 | 10.5% |
P
S
|
121,000 | $1,115,620 | 2023 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
KHC
KRAFT HEINZ CO
|
Consumer Defensive | 0.78% | 1.06% |
#45
13
Prev: #32
|
0.8 |
—
|
-7,025 | -13.3% |
P
S
|
45,900 | $1,113,075 | 2023 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
WMB
WILLIAMS COS IN...
|
Energy | 0.78% | 0.89% |
#46
3
Prev: #43
|
1.3 |
—
|
no change | no change |
P
S
|
18,400 | $1,106,024 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
IFF
INTERNATIONAL F...
|
Basic Materials | 0.76% | 0.84% |
#47
1
Prev: #46
|
0.8 |
—
|
-1,900 | -10.7% |
P
S
|
15,900 | $1,071,502 | 2023 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SHAK
SHAKE SHACK INC
|
Consumer Cyclical | 0.75% | 0.93% |
#48
11
Prev: #37
|
0.8 |
—
|
25 | 0.2% |
P
S
|
13,050 | $1,059,269 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
VTRS
VIATRIS INC
|
Healthcare | 0.74% | 0.63% |
#49
6
Prev: #55
|
0.8 |
—
|
1,000 | 1.2% |
P
S
|
84,500 | $1,052,025 | 2021 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
TGT
TARGET CORP
|
Consumer Defensive | 0.73% | — |
#50
Prev: #—
|
3.8 |
—
|
10,550 | — |
NEW
|
10,550 | $1,031,263 | 2023 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) |
Showing 1-50 of 112 holdings