In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 12, 2026), Amitell Capital Pte Ltd reported 20 stock positions worth $89.4 million . Its top holding was Vanguard Tot World STK ETF (VT) at 15.4% of the portfolio, followed by Global X Copper Miners ETF (COPX, 10.0% ) and Vaneck Gold Miners ETF (GDX, 9.9% ). Compared with Q3 2025, it opened 14 new positions, sold out of 36, added to 1 and reduced 4. The biggest buy was a new position in Vanguard Tot World STK ETF (VT) and the biggest sale an exit from Alamos Gold Class A (AGI).
Location SINGAPORE, U0
CIK 0001807559
Portfolio Value $89.4M (Q4 2025) Holdings 20 stocks · $89.4M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2025 VT Vanguard Tot World STK ETF 97,540 $13.8M New COPX Global X Copper Miners ETF 124,165 $8.9M New GDX Vaneck Gold Miners ETF 103,661 $8.9M New AMZN Amazon.com Inc. 30,542 $7.0M New THC Tenet Healthcare Corp. 35,008 $7.0M Reduce -21.5% PHYS Sprott Physical Gold Trust 162,638 $5.4M Reduce -1.2% XME SS SPDR S&P Metals Mining 51,573 $5.3M New AVGO Broadcom Inc. 15,226 $5.3M New CIEN Ciena Corp. 22,346 $5.2M Reduce -42.6% MOH Molina Healthcare Inc. 20,829 $3.6M Reduce -45.3% CNC Centene Corp. 86,255 $3.5M New BIL SS SPDR BB 1-3M T-Bill ETF 35,366 $3.2M New NET Cloudflare Inc. Class A 13,341 $2.6M Add +12.2% BRK.B Berkshire Hathaway Inc. Class B 4,234 $2.1M New IEMG iShares Core MSCI Emerging 31,616 $2.1M New VGK Vanguard Ftse Europe ETF 25,379 $2.1M New FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD 5,377 $883K New KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC 11,241 $878K New FOUR SHIFT4 Payments Inc. Class A 13,792 $868K New RCKT Rocket Pharmaceuticals Inc. 178,769 $627K No change
Portfolio Sells Q3 2025 → Q4 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2025 % Of Portfolio Change To Portfolio ▲ AGI Alamos Gold Inc. Class A Sold out 0.00% −4.82 PAX Patria Investments Ltd. Class A Sold out 0.00% −4.31 TLT iShares 20+ Year Treasury BD Sold out 0.00% −4.16 AVAV Aerovironment Inc. Sold out 0.00% −4.04 EZPW Ezcorp Inc. Class A Sold out 0.00% −4.01 KWEB Kranesh Csi China Internet Sold out 0.00% −3.93 NATL NCR Atleos Corp. Sold out 0.00% −3.88 TASEKO MINES LTD Sold out 0.00% −3.61 AEM Agnico Eagle Mines Ltd. Sold out 0.00% −3.46 APO Apollo Global Management Inc. Sold out 0.00% −3.02 OLN Olin Corp. Sold out 0.00% −2.86 NG Novagold Resources Inc. Sold out 0.00% −2.71 CENX Century Aluminum Company Sold out 0.00% −2.34 GLNG Golar LNG Ltd. Sold out 0.00% −2.29 NGD New Gold Inc. Sold out 0.00% −2.29 ASTL Algoma Steel Group Inc. Sold out 0.00% −2.27 PSLV Sprott Physical Silver Trust Sold out 0.00% −2.27 PPTA Perpetua Resources Corp. Sold out 0.00% −1.95 HII Huntington Ingalls Industrie Sold out 0.00% −1.88 VAL Valaris Ltd. Sold out 0.00% −1.88 BN Brookfield Corp. Sold out 0.00% −1.85 ELV Elevance Health Inc. Sold out 0.00% −1.72 HBM Hudbay Minerals Inc. Sold out 0.00% −1.58 TDW Tidewater Inc. Sold out 0.00% −1.58 BKR Baker Hughes Co. Sold out 0.00% −1.55 MOH Molina Healthcare Inc. Reduce -45.3% 4.04% −1.35 NTB Bank of N.T. Butterfield&son Sold out 0.00% −1.22 CRC California Resources Corp. Sold out 0.00% −1.04 CACI Caci International Inc. Class A Sold out 0.00% −0.91 LMT Lockheed Martin Corp. Sold out 0.00% −0.87 ORLA Orla Mining Ltd. Sold out 0.00% −0.81 Z Zillow Group Inc. Class C Sold out 0.00% −0.79 EE Excelerate Energy Inc. Class A Sold out 0.00% −0.54 AEXA American Exceptionalism Class A Sold out 0.00% −0.48 NBB Nuveen Taxable Municipal Inc. Sold out 0.00% −0.38 ARCC Ares Capital Corp. Sold out 0.00% −0.37 IAUX I-80 Gold Corp. Sold out 0.00% −0.13 THC Tenet Healthcare Corp. Reduce -21.5% 7.78% +1.08 CIEN Ciena Corp. Reduce -42.6% 5.84% +1.65 PHYS Sprott Physical Gold Trust Reduce -1.2% 6.00% +2.40
Portfolio Buys Q3 2025 → Q4 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2025 % Of Portfolio Change To Portfolio ▼ VT Vanguard Tot World STK ETF New 15.38% +15.38 COPX Global X Copper Miners ETF New 9.97% +9.97 GDX Vaneck Gold Miners ETF New 9.94% +9.94 AMZN Amazon.com Inc. New 7.88% +7.88 XME SS SPDR S&P Metals Mining New 5.97% +5.97 AVGO Broadcom Inc. New 5.89% +5.89 CNC Centene Corp. New 3.97% +3.97 BIL SS SPDR BB 1-3M T-Bill ETF New 3.61% +3.61 BRK.B Berkshire Hathaway Inc. Class B New 2.38% +2.38 IEMG iShares Core MSCI Emerging New 2.38% +2.38 VGK Vanguard Ftse Europe ETF New 2.37% +2.37 NET Cloudflare Inc. Class A Add +12.2% 2.94% +1.05 FUTU Futu Holdings Ltd.-ADR New 0.99% +0.99 KSPI JSC Kaspi.kz ADR New 0.98% +0.98 FOUR SHIFT4 Payments Inc. Class A New 0.97% +0.97
Options Activity Q3 2025 → Q4 2025 Security Type Change vs Q3 2025 Underlying Shares Value ▼ SOXX iShares Semiconductor ETF put Sold out 54,600 $14.8Mbefore exit GDXJ Vaneck Junior Gold Miners put Sold out 141,000 $14.0Mbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 26 $109.3M VT, GOOG, NVDA, IEMG, VGK Q1 2026 14 $62.4M VT, THC, XME, BRK.B, IEMG Q4 2025 20 $89.4M VT, COPX, GDX, AMZN, THC Q3 2025 42 $135.2M THC, MOH, AGI, PAX, CIEN Q2 2025 48 $178.1M IREN, ORCL, THC, PAX, ET Q1 2025 46 $129.4M NATL, THC, PAX, ET, PHYS Q4 2024 35 $110.5M NATL, PAX, MSFT, ET, THC Q3 2024 37 $133.4M NATL, THC, VYX, PAX, AVGO Q2 2024 37 $116.0M NATL, PAX, THC, VYX, FORM Q1 2024 40 $118.1M THC, PAX, NATL, MU, VYX