Hedges Asset Management LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 27, 2026), Hedges Asset Management LLC reported 108 stock positions worth $141.8 million. Its top holding was Glacier Bancorp (GBCI) at 9.2% of the portfolio, followed by General Electric (GE, 4.7%) and Boeing (BA, 3.9%). Compared with Q3 2025, it opened 9 new positions, sold out of 4, added to 22 and reduced 35. The biggest buy was a new position in Barclays PLC-Spons ADR (BCS) and the biggest sale Warner Bros Discovery (WBD, shares −87%).

Most Recent 13F
Q2 2026
Location
RENO, NV
CIK
0001906202
Portfolio Value
$141.8M (Q4 2025)
SEC Filing
0002085853-26-000100 ↗ filed Jan 27, 2026

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $142.7M Q1 2024 Q2 2024: $139.3M Q2 2024 Q3 2024: $151.1M Q3 2024 Q4 2024: $151.5M Q4 2024 Q1 2025: $152.2M Q1 2025 Q2 2025: $124.5M Q2 2025 Q3 2025: $130.6M Q3 2025 Q4 2025: $141.8M $141.8M Q4 2025 Q2 2026: $152.4M Q2 2026

Holdings 108 stocks · $141.8M
GBCI Glacier Bancorp Inc. 9.17% 295,223 $13.0M Add +1.7%
GE General Electric filed as GE AEROSPACE 4.71% 21,700 $6.7M Reduce -5.5%
BA The Boeing Co. 3.92% 25,600 $5.6M Add +3.9%
SHEL Shell PLC-ADR 2.91% 56,100 $4.1M No change
LUV Southwest Airlines Co. 2.63% 90,100 $3.7M Reduce -0.8%
GLPI Gaming and Leisure Propertie 2.47% 78,260 $3.5M No change
GDX Vaneck Gold Miners ETF 2.41% 39,900 $3.4M No change
BCS Barclays PLC-Spons ADR 2.16% 120,500 $3.1M New
PENN Penn Entertainment Inc. 1.89% 182,150 $2.7M Add +3.4%
BP BP PLC-Spons ADR 1.84% 75,067 $2.6M Add +0.3%
SH Proshares Short S&P500 1.75% 69,000 $2.5M New
PAAS Pan American Silver Corp. 1.63% 44,572 $2.3M Reduce -7.0%
B Barrick Mining Corp. 1.62% 52,800 $2.3M Reduce -13.4%
WYNN WYNN Resorts Ltd. 1.61% 19,015 $2.3M Reduce -2.1%
NGD New Gold Inc. 1.58% 257,500 $2.2M Reduce -3.7%
VZ Verizon Communications Inc. 1.58% 54,850 $2.2M Add +0.6%
PHYS Sprott Physical Gold Trust 1.51% 65,000 $2.1M No change
ARCO Arcos Dorados Holdings Inc. Class A 1.49% 287,900 $2.1M Reduce -3.7%
IMAX Imax Corp. 1.47% 56,500 $2.1M New
PSQ Proshares Short QQQ 1.45% 68,300 $2.1M Reduce -5.0%
LIND Lindblad Expeditions Holding 1.42% 139,900 $2.0M Reduce -1.0%
INTC Intel Corp. 1.36% 52,400 $1.9M Reduce -0.4%
DOW Dow Inc. 1.36% 82,200 $1.9M Add +1.6%
NEM Newmont Corp. 1.33% 18,850 $1.9M Reduce -0.5%
PPLT Abrdn Physical Platinum SHRS 1.24% 9,450 $1.8M Reduce -1.6%
VGK Vanguard Ftse Europe ETF 1.24% 21,000 $1.8M No change
HON Honeywell International Inc. 1.23% 8,950 $1.7M Add +177.5%
ELAN Elanco Animal Health Inc. 1.21% 76,000 $1.7M Reduce -0.7%
LYFT LYFT Inc. Class A 1.20% 87,600 $1.7M Reduce -8.3%
CVX Chevron Corp. 1.19% 11,100 $1.7M No change
FDX FedEx Corp. 1.17% 5,750 $1.7M No change
UL Unilever PLC-Sponsored ADR 1.07% 23,103 $1.5M No change
WFC Wells Fargo & Co. 1.05% 16,000 $1.5M Reduce -8.6%
BKD Brookdale Senior Living Inc. 1.04% 137,000 $1.5M Reduce -3.5%
MRK Merck & Co. Inc. 1.03% 13,900 $1.5M No change
FMC FMC Corp. 0.98% 100,100 $1.4M Add +142.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.96% 4,600 $1.4M Reduce -4.2%
L Loews Corp. 0.94% 12,700 $1.3M No change
SLB SLB Ltd. filed as SLB LIMITED 0.94% 34,700 $1.3M Reduce -0.9%
WY Weyerhaeuser Co. 0.93% 55,500 $1.3M Add +50.0%
F Ford Motor Co. filed as FORD MTR CO 0.87% 93,700 $1.2M No change
TSN Tyson Foods Inc. Class A 0.86% 20,750 $1.2M No change
CRSP Crispr Therapeutics AG 0.84% 22,775 $1.2M Add +1.2%
CNH CNH Industrial NV 0.79% 121,000 $1.1M Add +10.5%
KHC The Kraft Heinz Co. 0.79% 45,900 $1.1M Reduce -13.3%
WMB Williams Cos Inc. 0.78% 18,400 $1.1M No change
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.76% 15,900 $1.1M Reduce -10.7%
SHAK Shake Shack Inc. Class A 0.75% 13,050 $1.1M Add +0.2%
VTRS Viatris Inc. 0.74% 84,500 $1.1M Add +1.2%
TGT Target Corp. 0.73% 10,550 $1.0M New
UPS United Parcel Service Class B 0.70% 10,000 $992K Reduce -2.0%
NTNX Nutanix Inc. Class A 0.70% 19,100 $987K No change
SCHW Schwab (charles) Corp. 0.66% 9,400 $939K No change
BMY Bristol-Myers Squibb Co. 0.64% 16,775 $905K Reduce -9.7%
DOG Proshares Short DOW30 0.62% 37,450 $880K Add +8.6%
GT Goodyear Tire & Rubber Co. 0.59% 96,000 $841K Reduce -15.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.58% 14,900 $820K Reduce -0.7%
SLV iShares Silver Trust 0.57% 12,500 $805K No change
SQM Quimica Y Minera Chil-SP ADR filed as SOCIEDAD QUIMICA Y MINERA DE 0.57% 11,700 $805K No change
UBER Uber Technologies Inc. 0.56% 9,750 $797K Reduce -19.8%
EUFN iShares MSCI Europe Financia 0.55% 21,000 $779K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.54% 6,750 $768K Add +11.6%
CNK Cinemark Holdings Inc. 0.53% 32,500 $755K Add +0.9%
FIGS Figs Inc. Class A 0.51% 63,500 $721K Reduce -1.6%
MGM MGM Resorts International 0.48% 18,700 $682K No change
NTR Nutrien Ltd. 0.45% 10,400 $642K Reduce -0.9%
MMM 3M Co. 0.43% 3,800 $608K No change
MSOS Advisorshares Pure US Cann 0.43% 128,000 $604K Add +64.1%
BROS Dutch Bros Inc. Class A 0.37% 8,600 $526K No change
WPM Wheaton Precious Metals Corp. 0.33% 4,000 $470K No change
HP Helmerich & Payne 0.33% 16,300 $467K No change
HMC Honda Motor Co. Ltd.-Spons ADR 0.33% 15,800 $466K Add +0.6%
ABNB Airbnb Inc. Class A 0.32% 3,350 $455K No change
NVST Envista Holdings Corp. 0.32% 20,800 $452K Reduce -49.0%
IEV iShares Europe ETF 0.31% 6,500 $446K No change
FXI iShares China Large-Cap ETF 0.31% 11,400 $437K No change
CCJ Cameco Corp. 0.30% 4,700 $430K Reduce -2.1%
Q Qnity Electronics Inc. 0.29% 5,050 $412K Reduce -2.9%
KWEB Kranesh Csi China Internet 0.28% 11,800 $402K No change
CPB The Campbell's Company 0.28% 14,000 $390K Add +47.4%
MDT Medtronic PLC 0.26% 3,900 $375K No change
INSP Inspire Medical Systems Inc. 0.25% 3,900 $360K Add +11.4%
DFE Wisdomtree Eur S/C Dividend 0.25% 5,000 $359K No change
ROG Rogers Corp. 0.25% 3,800 $348K No change
KMI Kinder Morgan Inc. 0.24% 12,500 $344K No change
VEU Vanguard Ftse All-World Ex-U 0.24% 4,600 $338K No change
EW Edwards Lifesciences Corp. 0.23% 3,900 $332K New
WAB Wabtec Corp. 0.23% 1,550 $331K Reduce -6.1%
SGOL Abrdn Physical Gold Shares 0.23% 8,000 $329K No change
COP Conocophillips 0.22% 3,400 $318K Add +41.7%
MCD McDonald's Corp. 0.22% 1,000 $306K No change
LAC Lithium Americas Corp. 0.22% 70,000 $305K Add +40.0%
GVA Granite Construction Inc. 0.20% 2,500 $288K No change
WBD Warner Bros Discovery Inc. 0.20% 10,000 $288K Reduce -86.9%
RSP Invesco S&P 500 Equal Weight 0.20% 1,500 $287K No change
PSLV Sprott Physical Silver Trust 0.20% 12,000 $284K Reduce -61.9%
GEHC GE Healthcare Technology 0.20% 3,400 $279K Reduce -8.1%
AA Alcoa Corp. 0.19% 5,000 $266K New
EEM iShares MSCI Emerging Market 0.18% 4,700 $257K No change
DAL Delta Air Lines Inc. 0.18% 3,700 $257K No change

Show all 108 holdings

Portfolio Sells Q3 2025 → Q4 2025
WBD Warner Bros Discovery Inc. Reduce -86.9% 0.20% −0.94
DD Dupont DE Nemours Inc. Sold out 0.00% −0.62
GE General Electric Reduce -5.5% 4.71% −0.57
LYFT LYFT Inc. Class A Reduce -8.3% 1.20% −0.41
UBER Uber Technologies Inc. Reduce -19.8% 0.56% −0.35
NVST Envista Holdings Corp. Reduce -49.0% 0.32% −0.32
WYNN WYNN Resorts Ltd. Reduce -2.1% 1.61% −0.29
KHC The Kraft Heinz Co. Reduce -13.3% 0.79% −0.27
PSQ Proshares Short QQQ Reduce -5.0% 1.45% −0.25
CRWV Coreweave Inc. Class A Sold out 0.00% −0.24
GEV GE Vernova Inc. Sold out 0.00% −0.24
PSLV Sprott Physical Silver Trust Reduce -61.9% 0.20% −0.18
BABA Alibaba Group Holding-SP ADR Sold out 0.00% −0.16
IFF Intl Flavors & Fragrances Reduce -10.7% 0.76% −0.08
IBM Intl Business Machines Corp. Reduce -4.2% 0.96% −0.08
PSKY Paramount Skydance Class B Reduce -7.5% 0.11% −0.08
WFC Wells Fargo & Co. Reduce -8.6% 1.05% −0.07
ARCO Arcos Dorados Holdings Inc. Class A Reduce -3.7% 1.49% −0.06
GT Goodyear Tire & Rubber Co. Reduce -15.0% 0.59% −0.05
Q Qnity Electronics Inc. Reduce -2.9% 0.29% −0.03
WAB Wabtec Corp. Reduce -6.1% 0.23% −0.02
NTR Nutrien Ltd. Reduce -0.9% 0.45% −0.02
GEHC GE Healthcare Technology Reduce -8.1% 0.20% −0.02
BAC Bank of America Corp. Reduce -0.7% 0.58% −0.01
CCJ Cameco Corp. Reduce -2.1% 0.30% −0.01
BMY Bristol-Myers Squibb Co. Reduce -9.7% 0.64% −0.00
INTC Intel Corp. Reduce -0.4% 1.36% +0.01
SLB SLB Ltd. Reduce -0.9% 0.94% +0.02
ELAN Elanco Animal Health Inc. Reduce -0.7% 1.21% +0.03
LIND Lindblad Expeditions Holding Reduce -1.0% 1.42% +0.04
UPS United Parcel Service Class B Reduce -2.0% 0.70% +0.05
B Barrick Mining Corp. Reduce -13.4% 1.62% +0.09
NEM Newmont Corp. Reduce -0.5% 1.33% +0.10
NGD New Gold Inc. Reduce -3.7% 1.58% +0.11
BKD Brookdale Senior Living Inc. Reduce -3.5% 1.04% +0.12
FIGS Figs Inc. Class A Reduce -1.6% 0.51% +0.18
PPLT Abrdn Physical Platinum SHRS Reduce -1.6% 1.24% +0.19
PAAS Pan American Silver Corp. Reduce -7.0% 1.63% +0.21
LUV Southwest Airlines Co. Reduce -0.8% 2.63% +0.41

Portfolio Buys Q3 2025 → Q4 2025
BCS Barclays PLC-Spons ADR New 2.16% +2.16
SH Proshares Short S&P500 New 1.75% +1.75
IMAX Imax Corp. New 1.47% +1.47
TGT Target Corp. New 0.73% +0.73
HON Honeywell International Inc. Add +177.5% 1.23% +0.71
EW Edwards Lifesciences Corp. New 0.23% +0.23
WY Weyerhaeuser Co. Add +50.0% 0.93% +0.22
AA Alcoa Corp. New 0.19% +0.19
MBLY Mobileye Global Inc. Class A New 0.16% +0.16
ALB Albemarle Corp. New 0.15% +0.15
MSOS Advisorshares Pure US Cann Add +64.1% 0.43% +0.14
VTRS Viatris Inc. Add +1.2% 0.74% +0.11
INSP Inspire Medical Systems Inc. Add +11.4% 0.25% +0.05
COP Conocophillips Add +41.7% 0.22% +0.05
CPB The Campbell's Company Add +47.4% 0.28% +0.05
SGMOQ Sangamo Therapeutics Inc. New 0.04% +0.04
DIS The Walt Disney Co. Add +11.6% 0.54% +0.01
LAC Lithium Americas Corp. Add +40.0% 0.22% −0.00
DOG Proshares Short DOW30 Add +8.6% 0.62% −0.02
HMC Honda Motor Co. Ltd.-Spons ADR Add +0.6% 0.33% −0.04
DOW Dow Inc. Add +1.6% 1.36% −0.07
FMC FMC Corp. Add +142.4% 0.98% −0.08
CNH CNH Industrial NV Add +10.5% 0.79% −0.12
BP BP PLC-Spons ADR Add +0.3% 1.84% −0.14
BA The Boeing Co. Add +3.9% 3.92% −0.16
CNK Cinemark Holdings Inc. Add +0.9% 0.53% −0.16
SHAK Shake Shack Inc. Class A Add +0.2% 0.75% −0.19
VZ Verizon Communications Inc. Add +0.6% 1.58% −0.26
CRSP Crispr Therapeutics AG Add +1.2% 0.84% −0.27
PENN Penn Entertainment Inc. Add +3.4% 1.89% −0.70
GBCI Glacier Bancorp Inc. Add +1.7% 9.17% −1.65

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 108$152.4MGBCI, GE, BA, INTC, LUV
Q4 2025 108$141.8MGBCI, GE, BA, SHEL, LUV
Q3 2025 102$130.6MGBCI, GE, BA, SHEL, GLPI
Q2 2025 101$124.5MGBCI, GE, BA, SHEL, GLPI
Q1 2025 108$152.2MGBCI, GE, BA, SHEL, LUV
Q4 2024 110$151.5MGBCI, GE, BA, LUV, SHEL
Q3 2024 112$151.1MGBCI, GE, SHEL, GLPI, LUV
Q2 2024 111$139.3MGBCI, GE, SHEL, GLPI, PENN
Q1 2024 113$142.7MGBCI, GE, SHEL, GLPI, PENN