Gemsstock Ltd.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Gemsstock Ltd. reported 15 stock positions worth $486.1 million. Its top holding was iShares MSCI Emerging Market (EEM) at 22.4% of the portfolio, followed by Equinox Gold (EQX, 12.6%) and Eqt (EQT, 7.5%). Compared with Q2 2025, it opened 3 new positions, sold out of 5, added to 7 and reduced 5. The biggest buy was Equinox Gold (EQX, shares +2%) and the biggest sale an exit from iShares MSCI Brazil ETF (EWZ).
- Most Recent 13F
- Q2 2026
- Location
- London, X0
- CIK
- 0001724140
- Portfolio Value
- $486.1M (Q3 2025)
- SEC Filing
- 0001724140-25-000015 ↗ filed Nov 12, 2025
Holdings Value
Holdings 15 stocks · $486.1M
| EEM iShares MSCI Emerging Market | 22.38% | 52,000 | $108.8M | Reduce -36.2% |
| EQX Equinox Gold Corp. | 12.56% | 5,442,905 | $61.1M | Add +2.2% |
| EQT Eqt Corp. | 7.53% | 672,557 | $36.6M | Add +116.0% |
| GDXJ Vaneck Junior Gold Miners | 7.45% | 365,858 | $36.2M | Add +24.7% |
| NEM Newmont Corp. | 7.32% | 422,165 | $35.6M | Add +5.1% |
| B Barrick Mining Corp. | 7.19% | 1,067,000 | $35.0M | Reduce -7.0% |
| GPOR Gulfport Energy Corp. | 7.01% | 188,174 | $34.1M | Add +140.7% |
| EXE Expand Energy Corp. | 5.00% | 228,800 | $24.3M | New |
| AR Antero Resources Corp. | 4.89% | 708,054 | $23.8M | Add +49.8% |
| SMH Vaneck Semiconductor ETF | 3.70% | 55,100 | $18.0M | New |
| DB Deutsche Bank AG-Registered | 3.55% | 490,166 | $17.2M | Reduce -52.3% |
| ITUB Itau Unibanco H-Spon PRF ADR | 3.52% | 2,328,500 | $17.1M | New |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 3.14% | 186,662 | $15.2M | Reduce -43.0% |
| TECK Teck Resources Ltd.-CLS B | 2.57% | 284,870 | $12.5M | Reduce -18.4% |
| VIST Vista Energy Sab DE CV | 2.19% | 310,115 | $10.7M | Add +25.9% |
Portfolio Sells Q2 2025 → Q3 2025
| EWZ iShares MSCI Brazil ETF | Sold out | 0.00% | −17.38 |
| EEM iShares MSCI Emerging Market | Reduce -36.2% | 22.38% | −9.45 |
| GGAL Grupo Financiero Galicia-ADR | Sold out | 0.00% | −3.03 |
| NU Nu Holdings Ltd./Cayman Isl-A | Sold out | 0.00% | −2.77 |
| BMA Banco Macro SA-ADR | Sold out | 0.00% | −2.46 |
| DB Deutsche Bank AG-Registered | Reduce -52.3% | 3.55% | −1.88 |
| KSPI JSC Kaspi.kz ADR | Reduce -43.0% | 3.14% | −1.82 |
| BBAR Bbva Argentina SA-ADR | Sold out | 0.00% | −0.68 |
| TECK Teck Resources Ltd.-CLS B | Reduce -18.4% | 2.57% | +0.06 |
| B Barrick Mining Corp. | Reduce -7.0% | 7.19% | +2.93 |
Portfolio Buys Q2 2025 → Q3 2025
| EQX Equinox Gold Corp. | Add +2.2% | 12.56% | +7.10 |
| EXE Expand Energy Corp. | New | 5.00% | +5.00 |
| EQT Eqt Corp. | Add +116.0% | 7.53% | +4.29 |
| GPOR Gulfport Energy Corp. | Add +140.7% | 7.01% | +4.20 |
| GDXJ Vaneck Junior Gold Miners | Add +24.7% | 7.45% | +3.92 |
| SMH Vaneck Semiconductor ETF | New | 3.70% | +3.70 |
| ITUB Itau Unibanco H-Spon PRF ADR | New | 3.52% | +3.52 |
| NEM Newmont Corp. | Add +5.1% | 7.32% | +3.15 |
| AR Antero Resources Corp. | Add +49.8% | 4.89% | +1.49 |
| VIST Vista Energy Sab DE CV | Add +25.9% | 2.19% | +0.09 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 13 | $307.5M | GDX, VIST, KSPI, GPOR, BMA |
| Q1 2026 | 28 | $948.8M | EQX, GPOR, AMZN, B, VIST |
| Q4 2025 | 22 | $793.4M | EQX, GPOR, SOXX, QQQ, AMZN |
| Q3 2025 | 15 | $486.1M | EEM, EQX, EQT, GDXJ, NEM |
| Q2 2025 | 17 | $560.9M | EEM, EWZ, EQX, DB, KSPI |
| Q1 2025 | 18 | $265.4M | KSPI, EQX, GGAL, TECK, BMA |
| Q4 2024 | 16 | $483.2M | QQQ, RSP, GOOG, AMZN, NU |
| Q3 2024 | 9 | $206.8M | QQQ, AMZN, B, NEM, GOOG |
| Q2 2024 | 13 | $313.7M | AMZN, TECK, GOOG, AVGO, TSM |
| Q1 2024 | 13 | $265.0M | TECK, NU, GOOG, AVGO, JPM |