Pekin Hardy Strauss, Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 10, 2025), Pekin Hardy Strauss, Inc. reported 403 stock positions worth $990.6 million. Its top holding was Sprott Physical Gold Trust (PHYS) at 12.7% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 2.0%) and Vaneck Gold Miners ETF (GDX, 1.9%). Compared with Q2 2025, it opened 70 new positions, sold out of 22, added to 144 and reduced 144. The biggest buy was a new position in Two Harbors Investment (TWO) and the biggest sale Wesco International (WCC, shares −92%).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0001020317
- Portfolio Value
- $990.6M (Q3 2025)
- SEC Filing
- 0001020317-25-000002 ↗ filed Nov 10, 2025
Holdings Value
Holdings 403 stocks · $990.6M
| PHYS Sprott Physical Gold Trust | 12.74% | 4,261,570 | $126.2M | Reduce -1.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.98% | 39,088 | $19.7M | Reduce -4.4% |
| GDX Vaneck Gold Miners ETF | 1.86% | 240,782 | $18.4M | Reduce -0.8% |
| CCJ Cameco Corp. | 1.75% | 206,984 | $17.4M | Reduce -10.2% |
| CEF Sprott Physical Gold and Sil | 1.70% | 457,967 | $16.8M | Reduce -0.6% |
| PSLV Sprott Physical Silver Trust | 1.51% | 949,716 | $14.9M | Add +7.9% |
| IBIT iShares Bitcoin Trust ETF | 1.49% | 226,958 | $14.8M | Add +5.7% |
| AEM Agnico Eagle Mines Ltd. | 1.46% | 85,532 | $14.4M | Reduce -0.4% |
| MTBA Simplify MBS ETF | 1.42% | 279,952 | $14.1M | Add +2.1% |
| AAPL Apple Inc. | 1.35% | 52,343 | $13.3M | Reduce -2.9% |
| XOM Exxon Mobil Corp. | 1.28% | 112,796 | $12.7M | Reduce -3.3% |
| OUNZ Vaneck Merk Gold ETF | 1.21% | 323,178 | $12.0M | Reduce -3.9% |
| AER Aercap Holdings NV | 1.17% | 95,573 | $11.6M | Add +7.3% |
| EWZ iShares MSCI Brazil ETF | 1.15% | 366,515 | $11.4M | Add +8.3% |
| DG Dollar General Corp. | 1.11% | 106,617 | $11.0M | Add +5.8% |
| GOOGL Alphabet Inc. Class A | 1.09% | 44,493 | $10.8M | Reduce -3.0% |
| GOOG Alphabet Inc. Class C | 1.01% | 40,903 | $10.0M | Reduce -2.9% |
| MSFT Microsoft Corp. | 0.98% | 18,816 | $9.7M | Add +3.3% |
| AGI Alamos Gold Inc. Class A | 0.93% | 263,844 | $9.2M | Add +1.4% |
| HUM Humana Inc. | 0.92% | 34,888 | $9.1M | Add +0.9% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.91% | 100,879 | $9.0M | Reduce -0.1% |
| CEG Constellation Energy | 0.89% | 26,727 | $8.8M | Reduce -2.2% |
| GXO Gxo Logistics Inc. | 0.87% | 162,944 | $8.6M | Reduce -2.5% |
| EMLC Vaneck JPM Em Local Curr BND | 0.86% | 333,273 | $8.5M | Add +6.0% |
| MOS The Mosaic Co. | 0.84% | 240,291 | $8.3M | Reduce -10.0% |
| LULU Lululemon Athletica Inc. | 0.84% | 46,712 | $8.3M | Add +70.0% |
| ITRN Ituran Location and Control | 0.83% | 230,308 | $8.2M | Add +29.1% |
| SM SM Energy Co. | 0.81% | 319,401 | $8.0M | Add +4.7% |
| DVN Devon Energy Corp. | 0.80% | 226,542 | $7.9M | Reduce -1.7% |
| ET Energy Transfer LP | 0.79% | 457,462 | $7.9M | Reduce -1.8% |
| EWY iShares MSCI South Korea ETF | 0.73% | 90,637 | $7.3M | Add +7.8% |
| AGNC AGNC Investment Corp. | 0.73% | 741,567 | $7.3M | Reduce -35.1% |
| PPLT Abrdn Physical Platinum SHRS | 0.73% | 50,449 | $7.2M | Add +90.4% |
| ABBV Abbvie Inc. | 0.72% | 31,018 | $7.2M | Reduce -1.8% |
| CZR Caesars Entertainment Inc. | 0.72% | 264,658 | $7.2M | Add +23.2% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.71% | 103,606 | $7.0M | Add +4.5% |
| IAU iShares Gold Trust | 0.70% | 95,756 | $7.0M | Reduce -0.9% |
| LYB Lyondellbasell Indu Class A | 0.69% | 139,758 | $6.9M | Add +21.2% |
| WMT Walmart Inc. | 0.65% | 62,823 | $6.5M | Reduce -2.6% |
| AMZN Amazon.com Inc. | 0.61% | 27,586 | $6.1M | Add +3.3% |
| SWK Stanley Black & Decker Inc. | 0.60% | 80,424 | $6.0M | Reduce -10.6% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.60% | 173,124 | $6.0M | Add +859.0% |
| DEA Easterly Government Properti | 0.59% | 256,166 | $5.9M | Add +9.8% |
| AR Antero Resources Corp. | 0.59% | 173,835 | $5.8M | Add +20.6% |
| ETHA iShares Ethereum Trust ETF | 0.58% | 182,411 | $5.7M | Add +35.3% |
| CRL Charles River Laboratories | 0.57% | 36,060 | $5.6M | Reduce -6.1% |
| WLFC Willis Lease Finance Corp. | 0.57% | 40,977 | $5.6M | Add +2.9% |
| EWW iShares MSCI Mexico ETF | 0.56% | 81,303 | $5.5M | Add +3.5% |
| CC The Chemours Co. | 0.55% | 341,553 | $5.4M | Reduce -10.2% |
| TWO Two Harbors Investment Corp. filed as TWO HBRS INVT CORP | 0.54% | 539,526 | $5.3M | New |
| EPD Enterprise Products Partners | 0.51% | 160,333 | $5.0M | Reduce -1.4% |
| INDA iShares MSCI India ETF | 0.51% | 96,177 | $5.0M | Add +4.7% |
| PM Philip Morris International | 0.50% | 30,388 | $4.9M | Reduce -7.0% |
| NVDA Nvidia Corp. | 0.50% | 26,391 | $4.9M | Add +48.6% |
| SU Suncor Energy Inc. | 0.48% | 113,489 | $4.7M | Reduce -25.9% |
| GBTC Grayscale Bitcoin Trust ETF | 0.47% | 51,538 | $4.6M | Reduce -4.0% |
| DSX Diana Shipping Inc. | 0.46% | 2,704,331 | $4.5M | Reduce -4.8% |
| CAG Conagra Brands Inc. | 0.45% | 244,402 | $4.5M | New |
| NICE Nice Ltd. - Spon ADR | 0.45% | 30,459 | $4.4M | New |
| MUFG Mitsubishi Ufj Finl-Spon ADR | 0.44% | 274,289 | $4.4M | Add +2.4% |
| ALEX Alexander & Baldwin Inc. | 0.44% | 238,505 | $4.3M | Reduce -22.6% |
| BTI British American Tob-SP ADR | 0.43% | 80,973 | $4.3M | Reduce -2.4% |
| NVS Novartis AG-Sponsored ADR | 0.42% | 32,566 | $4.2M | Reduce -2.8% |
| CVX Chevron Corp. | 0.42% | 26,885 | $4.2M | Reduce -6.5% |
| PPTA Perpetua Resources Corp. | 0.40% | 195,889 | $4.0M | Add +44.0% |
| IVOL Quadratic Int Rte Vol Infl H | 0.40% | 205,122 | $4.0M | Add +12.2% |
| PEP Pepsico Inc. | 0.39% | 27,748 | $3.9M | Add +0.3% |
| VYM Vanguard High DVD Yield ETF | 0.39% | 27,453 | $3.9M | Reduce -1.2% |
| XLE SS Energy Select Sector | 0.39% | 43,024 | $3.8M | Reduce -5.2% |
| ETN Eaton Corp. PLC | 0.38% | 10,046 | $3.8M | Reduce -2.6% |
| DEO Diageo PLC-Sponsored ADR | 0.38% | 39,258 | $3.7M | Reduce -18.9% |
| FXY Invesco Currencyshares Japan | 0.37% | 58,224 | $3.6M | Reduce -5.9% |
| HLF Herbalife Ltd. | 0.36% | 426,682 | $3.6M | Reduce -2.4% |
| GDXJ Vaneck Junior Gold Miners | 0.35% | 35,134 | $3.5M | Add +6.3% |
| NGD New Gold Inc. | 0.35% | 484,250 | $3.5M | Add +2.1% |
| MO Altria Group Inc. | 0.35% | 52,509 | $3.5M | Add +4.7% |
| VFC VF Corp. | 0.34% | 234,770 | $3.4M | Reduce -31.2% |
| CDX Simplify High Yield ETF | 0.33% | 143,753 | $3.3M | Add +51.8% |
| SKE Skeena Resources Ltd. | 0.33% | 176,923 | $3.3M | Add +27.4% |
| SIL Global X Silver Miners ETF | 0.32% | 44,673 | $3.2M | Add +2.3% |
| JPM JPMorgan Chase & Co. | 0.32% | 10,080 | $3.2M | Add +4.8% |
| MLPA Global X MLP ETF | 0.32% | 65,011 | $3.1M | Add +0.2% |
| EXC Exelon Corp. | 0.31% | 69,083 | $3.1M | Reduce -2.4% |
| SSNC Ss&c Technologies Holdings | 0.31% | 34,545 | $3.1M | Reduce -10.4% |
| NPK National Presto Inds Inc. | 0.31% | 27,115 | $3.0M | Add +1.0% |
| TPB Turning Point Brands Inc. | 0.30% | 30,215 | $3.0M | Reduce -9.2% |
| SGOL Abrdn Physical Gold Shares | 0.30% | 80,585 | $3.0M | Reduce -0.7% |
| GRVY Gravity Co. Ltd.-Sponsored ADR | 0.30% | 45,742 | $2.9M | Reduce -5.9% |
| HL Hecla Mining Co. | 0.29% | 240,070 | $2.9M | Reduce -2.5% |
| VIG Vanguard Dividend Apprec ETF | 0.29% | 13,406 | $2.9M | Reduce -0.8% |
| NEM Newmont Corp. | 0.29% | 34,256 | $2.9M | Add +6.0% |
| CME Cme Group Inc. | 0.29% | 10,512 | $2.8M | Add +0.1% |
| FNV Franco-Nevada Corp. | 0.28% | 12,401 | $2.8M | Reduce -0.8% |
| BLK BlackRock Inc. | 0.28% | 2,359 | $2.8M | Add +3.3% |
| JNJ Johnson & Johnson | 0.27% | 14,585 | $2.7M | Reduce -8.1% |
| CBOE Cboe Global Markets Inc. | 0.26% | 10,683 | $2.6M | Reduce -0.8% |
| SAN Banco Santander SA-Spon ADR | 0.26% | 249,110 | $2.6M | Add +3.3% |
| WES Western Midstream Partners L | 0.26% | 66,200 | $2.6M | Reduce -0.3% |
| MDT Medtronic PLC | 0.26% | 26,990 | $2.6M | Reduce -37.8% |
| EWT iShares MSCI Taiwan ETF | 0.25% | 39,205 | $2.5M | Add +109.2% |
Options reported separately and not counted above: LLY calls ($2.1M).
Other holdings (5): bonds, preferreds, convertibles and warrants · $4.8M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 2,000,000 | $3.4M | No change |
| BLOCK INC (XYZ 0.25 11/01/27) | NOTE 0.250%11/0 · principal | 760,000 | $691K | Reduce -3.2% |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 419 | $517K | Reduce -4.6% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 178 | $228K | Reduce -7.8% |
| COHEN & STEERS INFRASTRU | RIGHT 10/16/2025 | 13,625 | $1K | No change |
Total filed on the 13F, all lines: $995.4M.
Portfolio Sells Q2 2025 → Q3 2025
| WCC Wesco International Inc. | Reduce -91.9% | 0.11% | −1.18 |
| AGNC AGNC Investment Corp. | Reduce -35.1% | 0.73% | −0.47 |
| SONY Sony Group Corp. - SP ADR | Reduce -86.8% | 0.04% | −0.29 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -4.4% | 1.98% | −0.29 |
| MOS The Mosaic Co. | Reduce -10.0% | 0.84% | −0.27 |
| TUA Sim St Treas Fut Strat ETF | Reduce -74.9% | 0.07% | −0.26 |
| CCJ Cameco Corp. | Reduce -10.2% | 1.75% | −0.21 |
| ALEX Alexander & Baldwin Inc. | Reduce -22.6% | 0.44% | −0.19 |
| PM Philip Morris International | Reduce -7.0% | 0.50% | −0.18 |
| DEO Diageo PLC-Sponsored ADR | Reduce -18.9% | 0.38% | −0.18 |
| SU Suncor Energy Inc. | Reduce -25.9% | 0.48% | −0.18 |
| ET Energy Transfer LP | Reduce -1.8% | 0.79% | −0.17 |
| MDT Medtronic PLC | Reduce -37.8% | 0.26% | −0.17 |
| NBIS Nebius Group NV | Sold out | 0.00% | −0.16 |
| XOM Exxon Mobil Corp. | Reduce -3.3% | 1.28% | −0.15 |
| CF CF Industries Holdings Inc. | Reduce -0.1% | 0.91% | −0.15 |
| NXST Nexstar Media Group Inc. | Sold out | 0.00% | −0.15 |
| CHX Championx Corp. | Sold out | 0.00% | −0.15 |
| CEG Constellation Energy | Reduce -2.2% | 0.89% | −0.12 |
| VFC VF Corp. | Reduce -31.2% | 0.34% | −0.12 |
| CRL Charles River Laboratories | Reduce -6.1% | 0.57% | −0.10 |
| EOG EOG Resources Inc. | Reduce -21.3% | 0.18% | −0.09 |
| SWK Stanley Black & Decker Inc. | Reduce -10.6% | 0.60% | −0.09 |
| FXY Invesco Currencyshares Japan | Reduce -5.9% | 0.37% | −0.09 |
| FAX Abrdn Asia-Pacific Income | Reduce -78.9% | 0.02% | −0.09 |
| LB Landbridge Co. LLC-A | Sold out | 0.00% | −0.08 |
| EPD Enterprise Products Partners | Reduce -1.4% | 0.51% | −0.07 |
| EDD Morgan Stanley Emrg MRK Dom | Reduce -75.6% | 0.02% | −0.07 |
| CLPT Clearpoint Neuro Inc. | Sold out | 0.00% | −0.07 |
| WMT Walmart Inc. | Reduce -2.6% | 0.65% | −0.07 |
| HLF Herbalife Ltd. | Reduce -2.4% | 0.36% | −0.07 |
| CNI Canadian Natl Railway Co. | Reduce -3.8% | 0.22% | −0.06 |
| GXO Gxo Logistics Inc. | Reduce -2.5% | 0.87% | −0.06 |
| GRVY Gravity Co. Ltd.-Sponsored ADR | Reduce -5.9% | 0.30% | −0.06 |
| CORZ Core Scientific Inc. | Sold out | 0.00% | −0.06 |
| FXE Invesco Currencyshares Euro | Sold out | 0.00% | −0.06 |
| SSNC Ss&c Technologies Holdings | Reduce -10.4% | 0.31% | −0.06 |
| GBTC Grayscale Bitcoin Trust ETF | Reduce -4.0% | 0.47% | −0.05 |
| XLE SS Energy Select Sector | Reduce -5.2% | 0.39% | −0.05 |
| CVX Chevron Corp. | Reduce -6.5% | 0.42% | −0.05 |
| FLYW Flywire Corp.-Voting | Sold out | 0.00% | −0.05 |
| ATEX Anterix Inc. | Sold out | 0.00% | −0.05 |
| FCX Freeport-McMoran Inc. | Reduce -5.8% | 0.14% | −0.05 |
| IEX Idex Corp. | Sold out | 0.00% | −0.05 |
| NVS Novartis AG-Sponsored ADR | Reduce -2.8% | 0.42% | −0.04 |
| LNG Cheniere Energy Inc. | Reduce -4.1% | 0.19% | −0.04 |
| ETN Eaton Corp. PLC | Reduce -2.6% | 0.38% | −0.04 |
| PFIX Simplify Interest Rate Hedge | Reduce -5.7% | 0.12% | −0.04 |
| CAAP Corp. America Airports SA | Reduce -49.5% | 0.03% | −0.04 |
| EXC Exelon Corp. | Reduce -2.4% | 0.31% | −0.04 |
Portfolio Buys Q2 2025 → Q3 2025
| TWO Two Harbors Investment Corp. | New | 0.54% | +0.54 |
| SLB SLB Ltd. | Add +859.0% | 0.60% | +0.53 |
| CAG Conagra Brands Inc. | New | 0.45% | +0.45 |
| NICE Nice Ltd. - Spon ADR | New | 0.45% | +0.45 |
| PPLT Abrdn Physical Platinum SHRS | Add +90.4% | 0.73% | +0.35 |
| ETHA iShares Ethereum Trust ETF | Add +35.3% | 0.58% | +0.29 |
| PSLV Sprott Physical Silver Trust | Add +7.9% | 1.51% | +0.27 |
| PPTA Perpetua Resources Corp. | Add +44.0% | 0.40% | +0.21 |
| VNM Vaneck Vietnam ETF | New | 0.20% | +0.20 |
| DVYE iShares Emerging Markets Div | Add +803.5% | 0.21% | +0.18 |
| NVDA Nvidia Corp. | Add +48.6% | 0.50% | +0.18 |
| AGI Alamos Gold Inc. Class A | Add +1.4% | 0.93% | +0.14 |
| EWT iShares MSCI Taiwan ETF | Add +109.2% | 0.25% | +0.13 |
| JAPN Horizon Kinetics Japan Owner | Add +191.6% | 0.21% | +0.13 |
| JOF Japan Smaller Capitalization | Add +116.0% | 0.21% | +0.11 |
| MIAX Miami International Holdings | New | 0.10% | +0.10 |
| EWS iShares MSCI Singapore ETF | Add +267.2% | 0.14% | +0.10 |
| ELD Wisdomtree Emrg MKTS Debt | New | 0.10% | +0.10 |
| GDXJ Vaneck Junior Gold Miners | Add +6.3% | 0.35% | +0.10 |
| LULU Lululemon Athletica Inc. | Add +70.0% | 0.84% | +0.09 |
| BABA Alibaba Group Holding-SP ADR | New | 0.08% | +0.08 |
| SIL Global X Silver Miners ETF | Add +2.3% | 0.32% | +0.08 |
| NGD New Gold Inc. | Add +2.1% | 0.35% | +0.08 |
| CDX Simplify High Yield ETF | Add +51.8% | 0.33% | +0.08 |
| SKE Skeena Resources Ltd. | Add +27.4% | 0.33% | +0.08 |
| NEM Newmont Corp. | Add +6.0% | 0.29% | +0.08 |
| GGAL Grupo Financiero Galicia-ADR | New | 0.08% | +0.08 |
| TEI Templeton Emrg MKTS Inc. | Add +58.0% | 0.25% | +0.08 |
| BORR Borr Drilling Ltd. | New | 0.07% | +0.07 |
| UNH Unitedhealth Group Inc. | Add +68.2% | 0.19% | +0.07 |
| IVV iShares Core S&P 500 ETF | Add +192.0% | 0.10% | +0.06 |
| ELV Elevance Health Inc. | New | 0.06% | +0.06 |
| OSISKO DEVELOPMENT CORP | Add +76.8% | 0.10% | +0.06 |
| TSEM Tower Semiconductor Ltd. | New | 0.05% | +0.05 |
| SILJ Amplify Junior Silver Miners | Add +3.2% | 0.18% | +0.05 |
| PBI Pitney Bowes Inc. | New | 0.05% | +0.05 |
| FXI iShares China Large-Cap ETF | New | 0.05% | +0.05 |
| PONY Pony AI Inc. | New | 0.05% | +0.05 |
| VRTX Vertex Pharmaceuticals Inc. | New | 0.04% | +0.04 |
| EWY iShares MSCI South Korea ETF | Add +7.8% | 0.73% | +0.04 |
| HOOD Robinhood Markets Inc. Class A | Add +10.0% | 0.13% | +0.04 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +59.2% | 0.14% | +0.04 |
| NG Novagold Resources Inc. | Add +171.4% | 0.05% | +0.04 |
| AEC Anfield Energy Inc. | New | 0.04% | +0.04 |
| FEIM Frequency Electronics Inc. | Add +21.9% | 0.11% | +0.04 |
| BMNR Bitmine Immersion Technologi | New | 0.04% | +0.04 |
| ITRN Ituran Location and Control | Add +29.1% | 0.83% | +0.04 |
| HE Hawaiian Electric Inds | New | 0.04% | +0.04 |
| KWEB Kranesh Csi China Internet | New | 0.04% | +0.04 |
| NTAP Netapp Inc. | New | 0.04% | +0.04 |
Options Activity Q2 2025 → Q3 2025
| LLY Eli Lilly & Co. | call | Add +8.0% | 2,700 | $2.1M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2025 → Q3 2025
| BLOCK INC (XYZ 0.25 11/01/27) | NOTE 0.250%11/0 · principal | Reduce -3.2% | 760,000 | $691K |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Reduce -4.6% | 419 | $517K |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Reduce -7.8% | 178 | $228K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 509 | $1.1B | PHYS, EWY, CCJ, MTBA, BRK.B |
| Q1 2026 | 475 | $955.9M | CCJ, MTBA, XOM, BRK.B, EWZ |
| Q4 2025 | 452 | $1.1B | PHYS, PSLV, CEF, BRK.B, GDX |
| Q3 2025 | 403 | $990.6M | PHYS, BRK.B, GDX, CCJ, CEF |
| Q2 2025 | 355 | $873.7M | PHYS, BRK.B, CCJ, CEF, MTBA |
| Q1 2025 | 355 | $821.1M | PHYS, BRK.B, XOM, CCJ, AAPL |
| Q4 2024 | 355 | $784.6M | PHYS, BRK.B, CCJ, AAPL, XOM |
| Q3 2024 | 334 | $780.2M | PHYS, BRK.B, CCJ, XOM, AAPL |
| Q2 2024 | 319 | $725.3M | PHYS, BRK.B, CCJ, XOM, AAPL |
| Q1 2024 | 319 | $728.6M | PHYS, BRK.B, CCJ, WCC, XOM |