Pekin Hardy Strauss, Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 30, 2026), Pekin Hardy Strauss, Inc. reported 452 stock positions worth $1.1 billion. Its top holding was Sprott Physical Gold Trust (PHYS) at 13.2% of the portfolio, followed by Sprott Physical Silver Trust (PSLV, 2.0%) and Sprott Physical Gold and Sil (CEF, 1.9%). Compared with Q3 2025, it opened 82 new positions, sold out of 33, added to 193 and reduced 141. The biggest buy was a new position in Weyerhaeuser (WY) and the biggest sale iShares Bitcoin Trust ETF (IBIT, shares −8%).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0001020317
- Portfolio Value
- $1.1B (Q4 2025)
- SEC Filing
- 0001020317-26-000001 ↗ filed Jan 30, 2026
Holdings Value
Holdings 452 stocks · $1.1B
| PHYS Sprott Physical Gold Trust | 13.20% | 4,318,119 | $142.6M | Add +1.3% |
| PSLV Sprott Physical Silver Trust | 2.02% | 922,665 | $21.8M | Reduce -2.9% |
| CEF Sprott Physical Gold and Sil | 1.90% | 447,769 | $20.5M | Reduce -2.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.88% | 40,521 | $20.4M | Add +3.7% |
| GDX Vaneck Gold Miners ETF | 1.72% | 217,170 | $18.6M | Reduce -9.8% |
| CCJ Cameco Corp. | 1.70% | 201,192 | $18.4M | Reduce -2.8% |
| MTBA Simplify MBS ETF | 1.67% | 358,640 | $18.1M | Add +28.1% |
| AAPL Apple Inc. | 1.41% | 56,224 | $15.3M | Add +7.4% |
| GOOGL Alphabet Inc. Class A | 1.35% | 46,534 | $14.6M | Add +4.6% |
| AEM Agnico Eagle Mines Ltd. | 1.29% | 82,190 | $13.9M | Reduce -3.9% |
| OUNZ Vaneck Merk Gold ETF | 1.26% | 328,295 | $13.6M | Add +1.6% |
| XOM Exxon Mobil Corp. | 1.26% | 113,110 | $13.6M | Add +0.3% |
| GOOG Alphabet Inc. Class C | 1.20% | 41,426 | $13.0M | Add +1.3% |
| EWZ iShares MSCI Brazil ETF | 1.15% | 391,908 | $12.5M | Add +6.9% |
| PPLT Abrdn Physical Platinum SHRS | 1.10% | 63,625 | $11.9M | Add +26.1% |
| AGI Alamos Gold Inc. Class A | 1.00% | 279,008 | $10.8M | Add +5.8% |
| DG Dollar General Corp. | 0.99% | 80,347 | $10.7M | Reduce -24.6% |
| IBIT iShares Bitcoin Trust ETF | 0.96% | 208,951 | $10.4M | Reduce -7.9% |
| EWY iShares MSCI South Korea ETF | 0.93% | 102,867 | $10.0M | Add +13.5% |
| EMLC Vaneck JPM Em Local Curr BND | 0.91% | 381,457 | $9.8M | Add +14.5% |
| INDA iShares MSCI India ETF | 0.91% | 181,138 | $9.8M | Add +88.3% |
| AER Aercap Holdings NV | 0.89% | 67,155 | $9.7M | Reduce -29.7% |
| CEG Constellation Energy | 0.89% | 27,216 | $9.6M | Add +1.8% |
| MSFT Microsoft Corp. | 0.85% | 19,068 | $9.2M | Add +1.3% |
| DVN Devon Energy Corp. | 0.84% | 246,509 | $9.0M | Add +8.8% |
| IAU iShares Gold Trust | 0.80% | 106,566 | $8.6M | Add +11.3% |
| ITRN Ituran Location and Control | 0.73% | 182,636 | $7.9M | Reduce -20.7% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.72% | 107,108 | $7.8M | Add +3.4% |
| ET Energy Transfer LP | 0.70% | 459,874 | $7.6M | Add +0.5% |
| AGNC AGNC Investment Corp. | 0.69% | 696,300 | $7.5M | Reduce -6.1% |
| SM SM Energy Co. | 0.69% | 397,039 | $7.4M | Add +24.3% |
| AR Antero Resources Corp. | 0.67% | 208,719 | $7.2M | Add +20.1% |
| GXO Gxo Logistics Inc. | 0.66% | 135,650 | $7.1M | Reduce -16.8% |
| CZR Caesars Entertainment Inc. | 0.66% | 304,093 | $7.1M | Add +14.9% |
| SLB SLB Ltd. filed as SLB LIMITED | 0.65% | 183,405 | $7.0M | Add +5.9% |
| WMT Walmart Inc. | 0.65% | 62,845 | $7.0M | Add +0.0% |
| HUM Humana Inc. | 0.64% | 27,181 | $7.0M | Reduce -22.1% |
| ABBV Abbvie Inc. | 0.64% | 30,414 | $6.9M | Reduce -1.9% |
| AMZN Amazon.com Inc. | 0.62% | 29,140 | $6.7M | Add +5.6% |
| EWW iShares MSCI Mexico ETF | 0.61% | 95,593 | $6.6M | Add +17.6% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.61% | 85,487 | $6.6M | Reduce -15.3% |
| DEA Easterly Government Properti | 0.58% | 295,627 | $6.3M | Add +15.4% |
| LYB Lyondellbasell Indu Class A | 0.54% | 134,249 | $5.8M | Reduce -3.9% |
| TWO Two Harbors Investment Corp. filed as TWO HBRS INVT CORP | 0.52% | 533,003 | $5.6M | Reduce -1.2% |
| PPTA Perpetua Resources Corp. | 0.51% | 227,814 | $5.5M | Add +16.3% |
| EPD Enterprise Products Partners | 0.50% | 169,393 | $5.4M | Add +5.7% |
| WY Weyerhaeuser Co. | 0.49% | 225,331 | $5.3M | New |
| SKE Skeena Resources Ltd. | 0.49% | 224,073 | $5.3M | Add +26.6% |
| WLFC Willis Lease Finance Corp. | 0.47% | 37,152 | $5.0M | Reduce -9.3% |
| PM Philip Morris International | 0.45% | 30,412 | $4.9M | Add +0.1% |
| LULU Lululemon Athletica Inc. | 0.45% | 23,228 | $4.8M | Reduce -50.3% |
| MUFG Mitsubishi Ufj Finl-Spon ADR | 0.44% | 300,124 | $4.8M | Add +9.4% |
| PEP Pepsico Inc. | 0.42% | 31,305 | $4.5M | Add +12.8% |
| SU Suncor Energy Inc. | 0.42% | 101,224 | $4.5M | Reduce -10.8% |
| MOS The Mosaic Co. | 0.42% | 186,250 | $4.5M | Reduce -22.5% |
| BTI British American Tob-SP ADR | 0.41% | 77,611 | $4.4M | Reduce -4.2% |
| JD Jd.com Inc.-ADR | 0.40% | 152,051 | $4.4M | New |
| XLE SS Energy Select Sector | 0.40% | 96,998 | $4.3M | Add +12.7% |
| NVDA Nvidia Corp. | 0.40% | 23,019 | $4.3M | Reduce -12.8% |
| HL Hecla Mining Co. | 0.39% | 221,621 | $4.3M | Reduce -7.7% |
| NVS Novartis AG-Sponsored ADR | 0.39% | 30,711 | $4.2M | Reduce -5.7% |
| NICE Nice Ltd. - Spon ADR | 0.39% | 37,213 | $4.2M | Add +22.2% |
| CVX Chevron Corp. | 0.37% | 26,223 | $4.0M | Reduce -2.5% |
| GBTC Grayscale Bitcoin Trust ETF | 0.37% | 58,419 | $4.0M | Add +13.3% |
| VYM Vanguard High DVD Yield ETF | 0.37% | 27,701 | $4.0M | Add +0.9% |
| IVOL Quadratic Int Rte Vol Infl H | 0.36% | 203,777 | $3.9M | Reduce -0.7% |
| SIL Global X Silver Miners ETF | 0.36% | 46,473 | $3.9M | Add +4.0% |
| DVYE iShares Emerging Markets Div | 0.36% | 123,995 | $3.9M | Add +77.4% |
| SLV iShares Silver Trust | 0.35% | 59,465 | $3.8M | Add +9.6% |
| DSX Diana Shipping Inc. | 0.35% | 2,301,311 | $3.8M | Reduce -14.9% |
| GDXJ Vaneck Junior Gold Miners | 0.35% | 33,134 | $3.8M | Reduce -5.7% |
| SWK Stanley Black & Decker Inc. | 0.34% | 50,124 | $3.7M | Reduce -37.7% |
| HLF Herbalife Ltd. | 0.34% | 288,724 | $3.7M | Reduce -32.3% |
| JPM JPMorgan Chase & Co. | 0.34% | 11,506 | $3.7M | Add +14.2% |
| KWEB Kranesh Csi China Internet | 0.34% | 108,504 | $3.7M | Add +1102.4% |
| NEM Newmont Corp. | 0.34% | 36,342 | $3.6M | Add +6.1% |
| VNM Vaneck Vietnam ETF | 0.33% | 187,070 | $3.6M | Add +66.5% |
| SGOL Abrdn Physical Gold Shares | 0.32% | 85,085 | $3.5M | Add +5.6% |
| TPB Turning Point Brands Inc. | 0.31% | 31,165 | $3.4M | Add +3.1% |
| ELV Elevance Health Inc. | 0.31% | 9,618 | $3.4M | Add +448.0% |
| MLPA Global X MLP ETF | 0.31% | 68,150 | $3.3M | Add +4.8% |
| BABA Alibaba Group Holding-SP ADR | 0.30% | 22,335 | $3.3M | Add +382.6% |
| ALEX Alexander & Baldwin Inc. | 0.30% | 157,839 | $3.3M | Reduce -33.8% |
| CAG Conagra Brands Inc. | 0.30% | 187,179 | $3.2M | Reduce -23.4% |
| ETN Eaton Corp. PLC | 0.29% | 9,968 | $3.2M | Reduce -0.8% |
| JNJ Johnson & Johnson | 0.29% | 15,258 | $3.2M | Add +4.6% |
| MO Altria Group Inc. | 0.29% | 54,352 | $3.1M | Add +3.5% |
| CDX Simplify High Yield ETF | 0.29% | 139,237 | $3.1M | Reduce -3.1% |
| EWT iShares MSCI Taiwan ETF | 0.28% | 47,635 | $3.0M | Add +21.5% |
| EXC Exelon Corp. | 0.28% | 69,150 | $3.0M | Add +0.1% |
| SAN Banco Santander SA-Spon ADR | 0.28% | 255,122 | $3.0M | Add +2.4% |
| VIG Vanguard Dividend Apprec ETF | 0.27% | 13,504 | $3.0M | Add +0.7% |
| XME SS SPDR S&P Metals Mining | 0.27% | 28,463 | $2.9M | Add +8.0% |
| CC The Chemours Co. | 0.27% | 249,153 | $2.9M | Reduce -27.1% |
| VFC VF Corp. | 0.27% | 161,861 | $2.9M | Reduce -31.1% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.27% | 31,785 | $2.9M | Add +104.9% |
| WES Western Midstream Partners L | 0.27% | 73,150 | $2.9M | Add +10.5% |
| SSNC Ss&c Technologies Holdings | 0.27% | 32,870 | $2.9M | Reduce -4.8% |
| CME Cme Group Inc. | 0.26% | 10,374 | $2.8M | Reduce -1.3% |
| ADBE Adobe Inc. | 0.25% | 7,796 | $2.7M | New |
Other holdings (2): bonds, preferreds, convertibles and warrants · $1.2M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BLOCK INC (XYZ 0.25 11/01/27) | NOTE 0.250%11/0 · principal | 710,000 | $656K | Reduce -6.6% |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 429 | $520K | Add +2.4% |
Total filed on the 13F, all lines: $1.1B.
Portfolio Sells Q3 2025 → Q4 2025
| IBIT iShares Bitcoin Trust ETF | Reduce -7.9% | 0.96% | −0.53 |
| ETHA iShares Ethereum Trust ETF | Reduce -69.3% | 0.12% | −0.46 |
| MOS The Mosaic Co. | Reduce -22.5% | 0.42% | −0.43 |
| CRL Charles River Laboratories | Reduce -75.1% | 0.17% | −0.40 |
| LULU Lululemon Athletica Inc. | Reduce -50.3% | 0.45% | −0.39 |
| FXY Invesco Currencyshares Japan | Sold out | 0.00% | −0.37 |
| NGD New Gold Inc. | Reduce -96.9% | 0.01% | −0.34 |
| CF CF Industries Holdings Inc. | Reduce -15.3% | 0.61% | −0.30 |
| NPK National Presto Inds Inc. | Reduce -90.8% | 0.02% | −0.28 |
| CC The Chemours Co. | Reduce -27.1% | 0.27% | −0.27 |
| AER Aercap Holdings NV | Reduce -29.7% | 0.89% | −0.27 |
| HUM Humana Inc. | Reduce -22.1% | 0.64% | −0.27 |
| SWK Stanley Black & Decker Inc. | Reduce -37.7% | 0.34% | −0.26 |
| GXO Gxo Logistics Inc. | Reduce -16.8% | 0.66% | −0.21 |
| GBFH Gbank Financial Holdings Inc. | Sold out | 0.00% | −0.21 |
| DEO Diageo PLC-Sponsored ADR | Reduce -35.1% | 0.20% | −0.17 |
| AEM Agnico Eagle Mines Ltd. | Reduce -3.9% | 1.29% | −0.17 |
| MDT Medtronic PLC | Reduce -58.4% | 0.10% | −0.16 |
| SLRC SLR Investment Corp. | Sold out | 0.00% | −0.15 |
| LYB Lyondellbasell Indu Class A | Reduce -3.9% | 0.54% | −0.15 |
| CAG Conagra Brands Inc. | Reduce -23.4% | 0.30% | −0.15 |
| UNH Unitedhealth Group Inc. | Reduce -73.3% | 0.04% | −0.15 |
| ALEX Alexander & Baldwin Inc. | Reduce -33.8% | 0.30% | −0.14 |
| GDX Vaneck Gold Miners ETF | Reduce -9.8% | 1.72% | −0.13 |
| GRVY Gravity Co. Ltd.-Sponsored ADR | Reduce -30.8% | 0.17% | −0.13 |
| DG Dollar General Corp. | Reduce -24.6% | 0.99% | −0.13 |
| PFIX Simplify Interest Rate Hedge | Sold out | 0.00% | −0.12 |
| DSX Diana Shipping Inc. | Reduce -14.9% | 0.35% | −0.11 |
| ITRN Ituran Location and Control | Reduce -20.7% | 0.73% | −0.10 |
| WLFC Willis Lease Finance Corp. | Reduce -9.3% | 0.47% | −0.10 |
| NVDA Nvidia Corp. | Reduce -12.8% | 0.40% | −0.10 |
| ETN Eaton Corp. PLC | Reduce -0.8% | 0.29% | −0.09 |
| ABBV Abbvie Inc. | Reduce -1.9% | 0.64% | −0.08 |
| VFC VF Corp. | Reduce -31.1% | 0.27% | −0.07 |
| BX Blackstone Inc. | Reduce -12.6% | 0.17% | −0.07 |
| SU Suncor Energy Inc. | Reduce -10.8% | 0.42% | −0.06 |
| BLDR Builders Firstsource Inc. | Reduce -15.3% | 0.12% | −0.06 |
| ARDX Ardelyx Inc. | Reduce -24.1% | 0.16% | −0.06 |
| HCC Warrior Met Coal Inc. | Sold out | 0.00% | −0.06 |
| SOC Sable Offshore Corp. | Sold out | 0.00% | −0.06 |
| NATH Nathan's Famous Inc. | Reduce -45.9% | 0.04% | −0.06 |
| TSEM Tower Semiconductor Ltd. | Sold out | 0.00% | −0.05 |
| LNG Cheniere Energy Inc. | Reduce -5.1% | 0.13% | −0.05 |
| CVX Chevron Corp. | Reduce -2.5% | 0.37% | −0.05 |
| CCJ Cameco Corp. | Reduce -2.8% | 1.70% | −0.05 |
| EOG EOG Resources Inc. | Reduce -16.0% | 0.13% | −0.05 |
| OXY Occidental Petroleum Corp. | Reduce -12.5% | 0.11% | −0.05 |
| INFL Horizon Kinetics Infl Benef | Reduce -10.6% | 0.20% | −0.05 |
| CDX Simplify High Yield ETF | Reduce -3.1% | 0.29% | −0.05 |
| PONY Pony AI Inc. | Sold out | 0.00% | −0.05 |
Portfolio Buys Q3 2025 → Q4 2025
| WY Weyerhaeuser Co. | New | 0.49% | +0.49 |
| PHYS Sprott Physical Gold Trust | Add +1.3% | 13.20% | +0.45 |
| JD Jd.com Inc.-ADR | New | 0.40% | +0.40 |
| INDA iShares MSCI India ETF | Add +88.3% | 0.91% | +0.40 |
| PPLT Abrdn Physical Platinum SHRS | Add +26.1% | 1.10% | +0.37 |
| KWEB Kranesh Csi China Internet | Add +1102.4% | 0.34% | +0.30 |
| GOOGL Alphabet Inc. Class A | Add +4.6% | 1.35% | +0.26 |
| ELV Elevance Health Inc. | Add +448.0% | 0.31% | +0.25 |
| ADBE Adobe Inc. | New | 0.25% | +0.25 |
| MTBA Simplify MBS ETF | Add +28.1% | 1.67% | +0.25 |
| BABA Alibaba Group Holding-SP ADR | Add +382.6% | 0.30% | +0.22 |
| GOOG Alphabet Inc. Class C | Add +1.3% | 1.20% | +0.20 |
| EWY iShares MSCI South Korea ETF | Add +13.5% | 0.93% | +0.19 |
| SKE Skeena Resources Ltd. | Add +26.6% | 0.49% | +0.16 |
| QCOM Qualcomm Inc. | Add +194.9% | 0.25% | +0.16 |
| BCH Banco DE Chile-ADR | Add +440.3% | 0.18% | +0.15 |
| DVYE iShares Emerging Markets Div | Add +77.4% | 0.36% | +0.15 |
| EIDO iShares MSCI Indonesia ETF | New | 0.14% | +0.14 |
| VNM Vaneck Vietnam ETF | Add +66.5% | 0.33% | +0.13 |
| RELY Remitly Global Inc. | Add +581.8% | 0.16% | +0.13 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +104.9% | 0.27% | +0.13 |
| SLV iShares Silver Trust | Add +9.6% | 0.35% | +0.12 |
| AVAL Grupo Aval Acciones Y Valore | Add +384.3% | 0.15% | +0.12 |
| AVGO Broadcom Inc. | Add +388.4% | 0.15% | +0.12 |
| PPTA Perpetua Resources Corp. | Add +16.3% | 0.51% | +0.11 |
| VCIT Vanguard Int-Term Corporate | Add +223.5% | 0.15% | +0.10 |
| IAU iShares Gold Trust | Add +11.3% | 0.80% | +0.10 |
| EWJ iShares MSCI Japan ETF | Add +233.1% | 0.14% | +0.09 |
| GRID First TRST Nasd Class Edg Sgiif | Add +306.6% | 0.12% | +0.09 |
| C Citigroup Inc. | New | 0.08% | +0.08 |
| MRK Merck & Co. Inc. | Add +26.9% | 0.25% | +0.08 |
| AR Antero Resources Corp. | Add +20.1% | 0.67% | +0.08 |
| ELD Wisdomtree Emrg MKTS Debt | Add +88.0% | 0.17% | +0.07 |
| FIZZ National Beverage Corp. | New | 0.07% | +0.07 |
| AGI Alamos Gold Inc. Class A | Add +5.8% | 1.00% | +0.07 |
| AAPL Apple Inc. | Add +7.4% | 1.41% | +0.07 |
| SIVR Abrdn Physical Silver Shares | New | 0.07% | +0.07 |
| QURE Uniqure NV | New | 0.06% | +0.06 |
| FXI iShares China Large-Cap ETF | Add +181.8% | 0.11% | +0.06 |
| PAAS Pan American Silver Corp. | New | 0.06% | +0.06 |
| NSC Norfolk Southern Corp. | Add +252.1% | 0.09% | +0.06 |
| BCI Abrdn Bloomberg All Commodit | New | 0.06% | +0.06 |
| FOXY Simplify Currency Strtgy ETF | Add +202.5% | 0.10% | +0.06 |
| NU Nu Holdings Ltd./Cayman Isl-A | New | 0.06% | +0.06 |
| LBRT Liberty Energy Inc. | New | 0.06% | +0.06 |
| BORR Borr Drilling Ltd. | Add +25.4% | 0.13% | +0.05 |
| EWW iShares MSCI Mexico ETF | Add +17.6% | 0.61% | +0.05 |
| EMLC Vaneck JPM Em Local Curr BND | Add +14.5% | 0.91% | +0.05 |
| MTDR Matador Resources Co. | New | 0.05% | +0.05 |
| IVV iShares Core S&P 500 ETF | Add +60.2% | 0.15% | +0.05 |
Options Activity Q3 2025 → Q4 2025
| LLY Eli Lilly & Co. | call | Sold out | 2,700 | $2.1Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | Sold out | 2,000,000 | $3.4Mbefore exit |
| BLOCK INC (XYZ 0.25 11/01/27) | NOTE 0.250%11/0 · principal | Reduce -6.6% | 710,000 | $656K |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Add +2.4% | 429 | $520K |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Sold out | 178 | $228Kbefore exit |
| COHEN & STEERS INFRASTRU | RIGHT 10/16/2025 | Sold out | 13,625 | $1Kbefore exit |
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 |