Kercheville Advisors, LLC

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 30, 2024), Kercheville Advisors, LLC reported 84 stock positions worth $230.4 million. Its top holding was Amazon.com (AMZN) at 8.1% of the portfolio, followed by Apple (AAPL, 6.7%) and Nvidia (NVDA, 5.2%). Compared with Q1 2024, it opened 6 new positions, sold out of 8, added to 40 and reduced 17. The biggest buy was a new position in Sunoco (SUN) and the biggest sale an exit from Nustar Energy (NS).

Most Recent 13F
Q2 2026
Location
San Antonio, TX
CIK
0001890748
Portfolio Value
$230.4M (Q2 2024)
SEC Filing
0001890748-24-000003 ↗ filed Jul 30, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $211.7M Q1 2024 Q2 2024: $230.4M $230.4M Q2 2024 Q3 2024: $237.0M Q3 2024 Q4 2024: $257.7M Q4 2024 Q1 2025: $245.3M Q1 2025 Q2 2025: $289.7M Q2 2025 Q3 2025: $331.0M Q3 2025 Q4 2025: $381.7M Q4 2025 Q1 2026: $312.7M Q1 2026 Q2 2026: $328.4M Q2 2026

Holdings 84 stocks · $230.4M
AMZN Amazon.com Inc. 8.13% 96,944 $18.7M Add +2.8%
AAPL Apple Inc. 6.69% 73,219 $15.4M Add +1.4%
NVDA Nvidia Corp. 5.17% 96,336 $11.9M Add +16.6%
GOOG Alphabet Inc. Class C 4.99% 62,741 $11.5M Add +1.3%
MSFT Microsoft Corp. 4.86% 25,055 $11.2M Add +2.1%
COST Costco Wholesale Corp. 4.54% 12,319 $10.5M Reduce -0.9%
SUN Sunoco LP 3.78% 154,033 $8.7M New
NFLX Netflix Inc. 3.48% 11,890 $8.0M Add +14.3%
META Meta Platforms Inc. Class A 3.42% 15,648 $7.9M Add +11.5%
XOM Exxon Mobil Corp. 3.39% 67,902 $7.8M Add +5.4%
AEM Agnico Eagle Mines Ltd. 3.29% 116,029 $7.6M Reduce -8.8%
HESM Hess Midstream LP Class A 3.17% 200,711 $7.3M Add +0.2%
MPLX MPLX LP 3.09% 167,332 $7.1M Add +0.6%
LLY Eli Lilly & Co. 3.04% 7,745 $7.0M Add +26.0%
GOOGL Alphabet Inc. Class A 2.89% 36,581 $6.7M Reduce -2.4%
GDX Vaneck Gold Miners ETF 2.58% 175,310 $5.9M Add +11.1%
UBER Uber Technologies Inc. 2.38% 75,425 $5.5M Reduce -22.0%
BX Blackstone Inc. 2.25% 41,784 $5.2M Reduce -1.2%
MU Micron Technology Inc. 2.01% 35,275 $4.6M Add +100.4%
GDXJ Vaneck Junior Gold Miners 1.78% 97,401 $4.1M Add +27.6%
CELH Celsius Holdings Inc. 1.75% 70,750 $4.0M Add +23.8%
HES Hess Corp. 1.68% 26,200 $3.9M Reduce -27.7%
SBUX Starbucks Corp. 1.65% 48,842 $3.8M Add +11.7%
DKNG Draftkings Inc. Class A 1.38% 83,500 $3.2M Reduce -18.7%
WMT Walmart Inc. 1.22% 41,669 $2.8M Add +63.0%
LUV Southwest Airlines Co. 1.20% 96,620 $2.8M Add +37.2%
ET Energy Transfer LP 0.93% 131,900 $2.1M Add +14.8%
HMY Harmony Gold MNG-Spon ADR 0.80% 199,900 $1.8M Add +112.2%
MCD McDonald's Corp. 0.79% 7,183 $1.8M Reduce -20.9%
BRK.B Berkshire Hathaway Inc. Class B 0.70% 3,980 $1.6M No change
TSLA Tesla Inc. 0.67% 7,788 $1.5M Add +6.2%
AKAM Akamai Technologies Inc. 0.58% 14,880 $1.3M Reduce -12.4%
GLD SPDR Gold Shares 0.57% 6,079 $1.3M Add +15.2%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.56% 18,800 $1.3M New
LVS Las Vegas Sands Corp. 0.53% 27,377 $1.2M Add +25.7%
ALG Alamo Group Inc. 0.53% 7,000 $1.2M Reduce -7.9%
HD Home Depot Inc. 0.49% 3,310 $1.1M No change
URNM Sprott Uranium Miners ETF 0.43% 20,275 $998K New
NVO Novo-Nordisk A/S-Spons ADR 0.43% 6,950 $992K Add +7.8%
DE Deere & Co. 0.42% 2,600 $971K Add +23.8%
AGI Alamos Gold Inc. Class A 0.42% 61,650 $967K Add +9.7%
CCJ Cameco Corp. 0.39% 18,284 $900K Reduce -3.7%
XBI SS SPDR S&P Biotech ETF 0.39% 9,680 $897K Add +0.8%
CAT Caterpillar Inc. 0.36% 2,500 $833K No change
FNV Franco-Nevada Corp. 0.35% 6,753 $800K Add +20.6%
SLV iShares Silver Trust 0.33% 28,700 $763K Add +71.9%
SHOP Shopify Inc. Class A 0.30% 10,485 $693K Reduce -61.5%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.28% 6,660 $650K New
GS Goldman Sachs Group Inc. 0.28% 1,403 $635K New
BRK.A Berkshire Hathaway Inc. Class A 0.28% 1 $634K No change
INDA iShares MSCI India ETF 0.27% 11,000 $614K Add +37.5%
AMD Advanced Micro Devices 0.25% 3,615 $586K Reduce -33.2%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.25% 12,350 $583K Reduce -5.0%
TT Trane Technologies PLC 0.21% 1,506 $495K No change
AMLP Alerian MLP ETF 0.21% 10,000 $480K Add +17.6%
CCL Carnival Corp. 0.21% 25,600 $479K New
JPM JPMorgan Chase & Co. 0.18% 2,070 $419K Reduce -12.7%
V Visa Inc. Class A 0.17% 1,470 $386K No change
NTG Tortoise Midstream Energy 0.17% 8,969 $385K Add +0.2%
ISRG Intuitive Surgical Inc. 0.17% 865 $385K Add +32.1%
FSCO FS Credit Opportunities Corp. 0.16% 58,728 $374K Add +0.0%
FCX Freeport-McMoran Inc. 0.16% 7,610 $370K Add +0.0%
AVGO Broadcom Inc. 0.16% 224 $360K No change
STLD Steel Dynamics Inc. 0.15% 2,705 $350K No change
TEI Templeton Emrg MKTS Inc. 0.14% 61,690 $329K Add +10.0%
GRMN Garmin Ltd. 0.14% 2,000 $326K No change
NOW ServiceNow Inc. 0.11% 330 $260K Add +6.5%
UPST Upstart Holdings Inc. 0.10% 10,000 $236K No change
CVX Chevron Corp. 0.10% 1,480 $232K No change
BA The Boeing Co. 0.10% 1,225 $223K Reduce -9.6%
VLO Valero Energy Corp. 0.09% 1,382 $217K No change
DBL Doubleline Opport Credit 0.09% 14,011 $215K Reduce -6.6%
UPS United Parcel Service Class B 0.09% 1,537 $210K No change
NVG Nuveen Amt-FR Muni CRDT 0.09% 16,453 $205K Add +0.1%
NAD Nuveen Quality Municipal Inc. 0.08% 15,441 $181K No change
VCV Invesco Ca Val Muni Inc. TR 0.08% 17,000 $177K No change
NMZ Nuveen Muni Hi Inc. Opport 0.07% 14,922 $161K Add +0.1%
XPMQX PIMCO Muni Income Fund III 0.06% 17,000 $134K No change
VMO Invesco Municipal Opport 0.06% 13,067 $132K No change
VGM Invesco Trust for Investmen 0.06% 12,436 $128K Add +0.2%
VPV Invesco Pa Val Muni Inc. 0.05% 11,000 $119K No change
XNEAX Nuveen Amt-FR QLTY Muni Inc. 0.05% 10,283 $118K No change
PML PIMCO Municipal Income FD II 0.04% 10,400 $89K No change
EOD Allspring Global Dividend Op 0.02% 10,050 $49K No change

Portfolio Sells Q1 2024 → Q2 2024
NS Nustar Energy LP Sold out 0.00% −4.23
UBER Uber Technologies Inc. Reduce -22.0% 2.38% −1.14
INMD Inmode Ltd. Sold out 0.00% −1.04
HES Hess Corp. Reduce -27.7% 1.68% −0.93
DKNG Draftkings Inc. Class A Reduce -18.7% 1.38% −0.82
SHOP Shopify Inc. Class A Reduce -61.5% 0.30% −0.69
ABBV Abbvie Inc. Sold out 0.00% −0.59
MCD McDonald's Corp. Reduce -20.9% 0.79% −0.41
BX Blackstone Inc. Reduce -1.2% 2.25% −0.38
ALG Alamo Group Inc. Reduce -7.9% 0.53% −0.29
AEM Agnico Eagle Mines Ltd. Reduce -8.8% 3.29% −0.29
AKAM Akamai Technologies Inc. Reduce -12.4% 0.58% −0.29
MSOS Advisorshares Pure US Cann Sold out 0.00% −0.21
AMD Advanced Micro Devices Reduce -33.2% 0.25% −0.21
GTLS Chart Industries Inc. Sold out 0.00% −0.18
PEP Pepsico Inc. Sold out 0.00% −0.12
INTC Intel Corp. Sold out 0.00% −0.10
BMY Bristol-Myers Squibb Co. Sold out 0.00% −0.10
SLB SLB Ltd. Reduce -5.0% 0.25% −0.08
JPM JPMorgan Chase & Co. Reduce -12.7% 0.18% −0.04
BA The Boeing Co. Reduce -9.6% 0.10% −0.03
DBL Doubleline Opport Credit Reduce -6.6% 0.09% −0.02
CCJ Cameco Corp. Reduce -3.7% 0.39% +0.00
GOOGL Alphabet Inc. Class A Reduce -2.4% 2.89% +0.22
COST Costco Wholesale Corp. Reduce -0.9% 4.54% +0.24

Portfolio Buys Q1 2024 → Q2 2024
SUN Sunoco LP New 3.78% +3.78
NVDA Nvidia Corp. Add +16.6% 5.17% +1.64
MU Micron Technology Inc. Add +100.4% 2.01% +1.03
AAPL Apple Inc. Add +1.4% 6.69% +0.85
LLY Eli Lilly & Co. Add +26.0% 3.04% +0.79
XLU St Sr Utl SL SE SPDR ETF-Usd New 0.56% +0.56
GOOG Alphabet Inc. Class C Add +1.3% 4.99% +0.54
NFLX Netflix Inc. Add +14.3% 3.48% +0.50
WMT Walmart Inc. Add +63.0% 1.22% +0.50
URNM Sprott Uranium Miners ETF New 0.43% +0.43
HMY Harmony Gold MNG-Spon ADR Add +112.2% 0.80% +0.43
GDXJ Vaneck Junior Gold Miners Add +27.6% 1.78% +0.38
TTD Trade Desk Inc./the Class A New 0.28% +0.28
GS Goldman Sachs Group Inc. New 0.28% +0.28
LUV Southwest Airlines Co. Add +37.2% 1.20% +0.23
GDX Vaneck Gold Miners ETF Add +11.1% 2.58% +0.22
CCL Carnival Corp. New 0.21% +0.21
META Meta Platforms Inc. Class A Add +11.5% 3.42% +0.21
SLV iShares Silver Trust Add +71.9% 0.33% +0.15
AMZN Amazon.com Inc. Add +2.8% 8.13% +0.10
ET Energy Transfer LP Add +14.8% 0.93% +0.07
INDA iShares MSCI India ETF Add +37.5% 0.27% +0.07
TSLA Tesla Inc. Add +6.2% 0.67% +0.06
GLD SPDR Gold Shares Add +15.2% 0.57% +0.05
ISRG Intuitive Surgical Inc. Add +32.1% 0.17% +0.04
NVO Novo-Nordisk A/S-Spons ADR Add +7.8% 0.43% +0.04
FNV Franco-Nevada Corp. Add +20.6% 0.35% +0.03
AGI Alamos Gold Inc. Class A Add +9.7% 0.42% +0.03
AMLP Alerian MLP ETF Add +17.6% 0.21% +0.02
DE Deere & Co. Add +23.8% 0.42% +0.01
NTG Tortoise Midstream Energy Add +0.2% 0.17% +0.01
NOW ServiceNow Inc. Add +6.5% 0.11% +0.00
TEI Templeton Emrg MKTS Inc. Add +10.0% 0.14% −0.00
FSCO FS Credit Opportunities Corp. Add +0.0% 0.16% −0.00
VGM Invesco Trust for Investmen Add +0.2% 0.06% −0.00
NMZ Nuveen Muni Hi Inc. Opport Add +0.1% 0.07% −0.00
NVG Nuveen Amt-FR Muni CRDT Add +0.1% 0.09% −0.01
LVS Las Vegas Sands Corp. Add +25.7% 0.53% −0.01
FCX Freeport-McMoran Inc. Add +0.0% 0.16% −0.01
MSFT Microsoft Corp. Add +2.1% 4.86% −0.02
XBI SS SPDR S&P Biotech ETF Add +0.8% 0.39% −0.04
XOM Exxon Mobil Corp. Add +5.4% 3.39% −0.14
MPLX MPLX LP Add +0.6% 3.09% −0.17
SBUX Starbucks Corp. Add +11.7% 1.65% −0.24
HESM Hess Midstream LP Class A Add +0.2% 3.17% −0.24
CELH Celsius Holdings Inc. Add +23.8% 1.75% −0.49

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 108$328.4MNVDA, AMZN, AAPL, GOOG, AEM
Q1 2026 106$312.7MAEM, NVDA, AMZN, AAPL, GOOG
Q4 2025 117$381.7MAEM, AMZN, NVDA, GOOG, AAPL
Q3 2025 106$331.0MNVDA, AMZN, AEM, AAPL, META
Q2 2025 105$289.7MAMZN, AAPL, META, AEM, NFLX
Q1 2025 89$245.3MAMZN, AAPL, AEM, COST, META
Q4 2024 94$257.7MAMZN, AAPL, NVDA, NFLX, COST
Q3 2024 85$237.0MAMZN, AAPL, NVDA, COST, MSFT
Q2 2024 84$230.4MAMZN, AAPL, NVDA, GOOG, MSFT
Q1 2024 86$211.7MAMZN, AAPL, MSFT, GOOG, COST