Kercheville Advisors, LLC

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 27, 2025), Kercheville Advisors, LLC reported 94 stock positions worth $257.7 million. Its top holding was Amazon.com (AMZN) at 8.1% of the portfolio, followed by Apple (AAPL, 7.3%) and Nvidia (NVDA, 6.3%). Compared with Q3 2024, it opened 15 new positions, sold out of 6, added to 31 and reduced 27. The biggest buy was Nvidia (NVDA, shares +21%) and the biggest sale Micron Technology (MU, shares −39%).

Most Recent 13F
Q2 2026
Location
San Antonio, TX
CIK
0001890748
Portfolio Value
$257.7M (Q4 2024)
SEC Filing
0001667731-25-000133 ↗ filed Jan 27, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $211.7M Q1 2024 Q2 2024: $230.4M Q2 2024 Q3 2024: $237.0M Q3 2024 Q4 2024: $257.7M $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 94 stocks · $257.7M
AMZN Amazon.com Inc. 8.10% 95,186 $20.9M Reduce -0.3%
AAPL Apple Inc. 7.34% 75,526 $18.9M Add +3.3%
NVDA Nvidia Corp. 6.34% 121,654 $16.3M Add +21.4%
NFLX Netflix Inc. 4.50% 13,005 $11.6M Add +7.1%
COST Costco Wholesale Corp. 4.47% 12,580 $11.5M Add +3.3%
GOOG Alphabet Inc. Class C 4.40% 59,507 $11.3M Add +0.1%
META Meta Platforms Inc. Class A 4.32% 19,003 $11.1M Add +26.8%
MSFT Microsoft Corp. 4.14% 25,331 $10.7M Add +6.2%
AEM Agnico Eagle Mines Ltd. 3.48% 114,611 $9.0M Add +1.3%
MPLX MPLX LP 3.09% 166,411 $8.0M Add +1.6%
SUN Sunoco LP 3.08% 154,077 $7.9M No change
BX Blackstone Inc. 3.04% 45,465 $7.8M Reduce -2.6%
HESM Hess Midstream LP Class A 2.84% 197,758 $7.3M Reduce -0.4%
XOM Exxon Mobil Corp. 2.56% 61,270 $6.6M Reduce -7.1%
GOOGL Alphabet Inc. Class A 2.54% 34,531 $6.5M No change
GDX Vaneck Gold Miners ETF 2.50% 190,115 $6.4M Reduce -0.1%
LLY Eli Lilly & Co. 2.46% 8,213 $6.3M Reduce -3.8%
GDXJ Vaneck Junior Gold Miners 1.85% 111,601 $4.8M No change
SBUX Starbucks Corp. 1.56% 44,075 $4.0M Reduce -0.8%
WMT Walmart Inc. 1.48% 42,330 $3.8M Reduce -0.0%
TSLA Tesla Inc. 1.45% 9,220 $3.7M Add +42.0%
UBER Uber Technologies Inc. 1.33% 56,960 $3.4M Add +11.0%
HES Hess Corp. 1.15% 22,335 $3.0M Reduce -0.3%
ET Energy Transfer LP 1.04% 137,150 $2.7M Add +12.5%
LUV Southwest Airlines Co. 0.99% 76,020 $2.6M Reduce -0.1%
BRK.B Berkshire Hathaway Inc. Class B 0.86% 4,894 $2.2M Add +24.9%
PLTR Palantir Technologies Inc. Class A 0.79% 26,935 $2.0M New
AGI Alamos Gold Inc. Class A 0.76% 106,550 $2.0M Add +21.3%
MU Micron Technology Inc. 0.69% 21,175 $1.8M Reduce -38.6%
DKNG Draftkings Inc. Class A 0.68% 47,400 $1.8M Reduce -12.1%
DELL Dell Technologies -C 0.66% 14,652 $1.7M Reduce -6.4%
MCD McDonald's Corp. 0.65% 5,798 $1.7M Reduce -4.2%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.65% 22,100 $1.7M Reduce -3.5%
SOFI Sofi Technologies Inc. 0.62% 103,500 $1.6M New
GLD SPDR Gold Shares 0.61% 6,479 $1.6M No change
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.56% 12,310 $1.4M Add +11.3%
CELH Celsius Holdings Inc. 0.56% 54,795 $1.4M New
GS Goldman Sachs Group Inc. 0.55% 2,475 $1.4M No change
XNEAX Nuveen Amt-FR QLTY Muni Inc. 0.54% 124,059 $1.4M Add +5.5%
AKAM Akamai Technologies Inc. 0.53% 14,350 $1.4M Reduce -3.6%
HD Home Depot Inc. 0.51% 3,350 $1.3M Add +1.2%
ALG Alamo Group Inc. 0.51% 7,000 $1.3M No change
XBI SS SPDR S&P Biotech ETF 0.45% 12,975 $1.2M Reduce -17.5%
HMY Harmony Gold MNG-Spon ADR 0.44% 139,600 $1.1M Reduce -23.4%
NAD Nuveen Quality Municipal Inc. 0.42% 93,466 $1.1M Add +3.3%
CCJ Cameco Corp. 0.38% 18,909 $972K Add +3.4%
SHOP Shopify Inc. Class A 0.37% 8,855 $942K Reduce -13.7%
UPST Upstart Holdings Inc. 0.36% 15,050 $927K Add +49.8%
UTG Reaves Utility Income Fund 0.36% 29,153 $924K New
CAT Caterpillar Inc. 0.35% 2,500 $907K No change
DE Deere & Co. 0.33% 2,000 $847K No change
CSCO Cisco Systems Inc. 0.30% 12,889 $763K Reduce -0.8%
LVS Las Vegas Sands Corp. 0.28% 14,179 $728K Add +196.8%
BRK.A Berkshire Hathaway Inc. Class A 0.26% 1 $681K No change
FBTC Fidelity Wise Origin Bitcoin 0.25% 8,000 $653K New
ISRG Intuitive Surgical Inc. 0.22% 1,070 $558K Add +25.1%
TT Trane Technologies PLC 0.22% 1,506 $556K No change
AMLP Alerian MLP ETF 0.20% 10,900 $525K Add +0.7%
AVGO Broadcom Inc. 0.19% 2,140 $496K No change
JPM JPMorgan Chase & Co. 0.19% 2,025 $485K No change
TYG Tortoise Energy Infrastruct 0.19% 11,436 $480K Add +1.8%
HIMS Hims & Hers Health Inc. 0.18% 19,450 $470K New
NVO Novo-Nordisk A/S-Spons ADR 0.18% 5,250 $452K Reduce -18.6%
CIBR First Trust Nasdaq Cybersecu 0.17% 6,700 $425K New
GRMN Garmin Ltd. 0.16% 2,000 $413K No change
FNV Franco-Nevada Corp. 0.16% 3,455 $406K Add +0.0%
FSCO FS Credit Opportunities Corp. 0.16% 58,758 $401K Add +0.0%
VRT Vertiv Holdings Co. Class A 0.15% 3,300 $375K New
V Visa Inc. Class A 0.14% 1,170 $370K Reduce -14.6%
NOW ServiceNow Inc. 0.14% 345 $366K No change
SLV iShares Silver Trust 0.14% 13,700 $361K Reduce -74.8%
TSM Taiwan Semiconductor-SP ADR 0.12% 1,600 $316K New
NVG Nuveen Amt-FR Muni CRDT 0.12% 25,499 $313K Add +4.2%
STLD Steel Dynamics Inc. 0.12% 2,705 $309K No change
AMD Advanced Micro Devices 0.12% 2,550 $308K Reduce -24.9%
TEI Templeton Emrg MKTS Inc. 0.12% 60,041 $308K Reduce -2.4%
DLTR Dollar Tree Inc. 0.12% 4,000 $300K New
URNM Sprott Uranium Miners ETF 0.12% 7,350 $296K Reduce -35.2%
CRWD CrowdStrike Holdings Inc. Class A 0.09% 715 $245K Reduce -82.6%
DBL Doubleline Opport Credit 0.08% 14,041 $218K Add +0.1%
ABBV Abbvie Inc. 0.08% 1,221 $217K New
BMY Bristol-Myers Squibb Co. 0.08% 3,696 $209K New
UPS United Parcel Service Class B 0.08% 1,587 $200K Add +3.3%
SILV Silvercrest Metals Inc. 0.07% 21,000 $191K New
NMZ Nuveen Muni Hi Inc. Opport 0.07% 17,470 $189K Add +0.2%
SMR Nuscale Power Corp. 0.07% 10,500 $188K New
VCV Invesco Ca Val Muni Inc. TR 0.07% 17,000 $186K No change
VMO Invesco Municipal Opport 0.06% 15,067 $146K No change
VGM Invesco Trust for Investmen 0.05% 13,491 $136K Add +0.2%
NZF Nuveen Municipal Credit Inc. 0.05% 11,000 $134K No change
VPV Invesco Pa Val Muni Inc. 0.04% 11,000 $113K No change
XPMQX PIMCO Muni Income Fund III 0.04% 15,000 $110K No change
IQI Invesco Quality Muni Inc. TR 0.04% 11,000 $108K No change
UA Under Armour Inc. Class C 0.03% 10,100 $75K New

Portfolio Sells Q3 2024 → Q4 2024
MU Micron Technology Inc. Reduce -38.6% 0.69% −0.82
LLY Eli Lilly & Co. Reduce -3.8% 2.46% −0.73
XOM Exxon Mobil Corp. Reduce -7.1% 2.56% −0.71
GDX Vaneck Gold Miners ETF Reduce -0.1% 2.50% −0.70
SLV iShares Silver Trust Reduce -74.8% 0.14% −0.51
CRWD CrowdStrike Holdings Inc. Class A Reduce -82.6% 0.09% −0.39
HMY Harmony Gold MNG-Spon ADR Reduce -23.4% 0.44% −0.34
INDA iShares MSCI India ETF Sold out 0.00% −0.30
SBUX Starbucks Corp. Reduce -0.8% 1.56% −0.27
FXI iShares China Large-Cap ETF Sold out 0.00% −0.26
DKNG Draftkings Inc. Class A Reduce -12.1% 0.68% −0.21
XBI SS SPDR S&P Biotech ETF Reduce -17.5% 0.45% −0.20
NVO Novo-Nordisk A/S-Spons ADR Reduce -18.6% 0.18% −0.15
XLU St Sr Utl SL SE SPDR ETF-Usd Reduce -3.5% 0.65% −0.13
HES Hess Corp. Reduce -0.3% 1.15% −0.13
DELL Dell Technologies -C Reduce -6.4% 0.66% −0.13
MCD McDonald's Corp. Reduce -4.2% 0.65% −0.13
AMD Advanced Micro Devices Reduce -24.9% 0.12% −0.12
BABA Alibaba Group Holding-SP ADR Sold out 0.00% −0.11
HESM Hess Midstream LP Class A Reduce -0.4% 2.84% −0.11
URNM Sprott Uranium Miners ETF Reduce -35.2% 0.12% −0.10
AKAM Akamai Technologies Inc. Reduce -3.6% 0.53% −0.10
RCL Royal Caribbean Cruises Ltd. Sold out 0.00% −0.10
BIDU Baidu Inc. - Spon ADR Sold out 0.00% −0.09
CVX Chevron Corp. Sold out 0.00% −0.09
TEI Templeton Emrg MKTS Inc. Reduce -2.4% 0.12% −0.03
V Visa Inc. Class A Reduce -14.6% 0.14% −0.02
CSCO Cisco Systems Inc. Reduce -0.8% 0.30% +0.00
SHOP Shopify Inc. Class A Reduce -13.7% 0.37% +0.02
BX Blackstone Inc. Reduce -2.6% 3.04% +0.03
LUV Southwest Airlines Co. Reduce -0.1% 0.99% +0.04
WMT Walmart Inc. Reduce -0.0% 1.48% +0.04
AMZN Amazon.com Inc. Reduce -0.3% 8.10% +0.60

Portfolio Buys Q3 2024 → Q4 2024
NVDA Nvidia Corp. Add +21.4% 6.34% +1.20
NFLX Netflix Inc. Add +7.1% 4.50% +0.87
PLTR Palantir Technologies Inc. Class A New 0.79% +0.79
TSLA Tesla Inc. Add +42.0% 1.45% +0.73
META Meta Platforms Inc. Class A Add +26.8% 4.32% +0.70
SOFI Sofi Technologies Inc. New 0.62% +0.62
CELH Celsius Holdings Inc. New 0.56% +0.56
UTG Reaves Utility Income Fund New 0.36% +0.36
FBTC Fidelity Wise Origin Bitcoin New 0.25% +0.25
ET Energy Transfer LP Add +12.5% 1.04% +0.22
GOOG Alphabet Inc. Class C Add +0.1% 4.40% +0.21
UPST Upstart Holdings Inc. Add +49.8% 0.36% +0.19
HIMS Hims & Hers Health Inc. New 0.18% +0.18
LVS Las Vegas Sands Corp. Add +196.8% 0.28% +0.18
CIBR First Trust Nasdaq Cybersecu New 0.17% +0.17
AAPL Apple Inc. Add +3.3% 7.34% +0.15
VRT Vertiv Holdings Co. Class A New 0.15% +0.15
TSM Taiwan Semiconductor-SP ADR New 0.12% +0.12
DLTR Dollar Tree Inc. New 0.12% +0.12
BRK.B Berkshire Hathaway Inc. Class B Add +24.9% 0.86% +0.10
ABBV Abbvie Inc. New 0.08% +0.08
BMY Bristol-Myers Squibb Co. New 0.08% +0.08
SILV Silvercrest Metals Inc. New 0.07% +0.07
SMR Nuscale Power Corp. New 0.07% +0.07
TTD Trade Desk Inc./the Class A Add +11.3% 0.56% +0.05
ISRG Intuitive Surgical Inc. Add +25.1% 0.22% +0.04
UA Under Armour Inc. Class C New 0.03% +0.03
AGI Alamos Gold Inc. Class A Add +21.3% 0.76% +0.02
MPLX MPLX LP Add +1.6% 3.09% +0.02
CCJ Cameco Corp. Add +3.4% 0.38% +0.01
TYG Tortoise Energy Infrastruct Add +1.8% 0.19% +0.01
FSCO FS Credit Opportunities Corp. Add +0.0% 0.16% −0.00
VGM Invesco Trust for Investmen Add +0.2% 0.05% −0.01
DBL Doubleline Opport Credit Add +0.1% 0.08% −0.01
UPS United Parcel Service Class B Add +3.3% 0.08% −0.01
AMLP Alerian MLP ETF Add +0.7% 0.20% −0.01
NMZ Nuveen Muni Hi Inc. Opport Add +0.2% 0.07% −0.01
NVG Nuveen Amt-FR Muni CRDT Add +4.2% 0.12% −0.02
FNV Franco-Nevada Corp. Add +0.0% 0.16% −0.02
NAD Nuveen Quality Municipal Inc. Add +3.3% 0.42% −0.05
XNEAX Nuveen Amt-FR QLTY Muni Inc. Add +5.5% 0.54% −0.05
HD Home Depot Inc. Add +1.2% 0.51% −0.06
COST Costco Wholesale Corp. Add +3.3% 4.47% −0.08
MSFT Microsoft Corp. Add +6.2% 4.14% −0.19
UBER Uber Technologies Inc. Add +11.0% 1.33% −0.29
AEM Agnico Eagle Mines Ltd. Add +1.3% 3.48% −0.37

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