Sicart Associates LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 7, 2025), Sicart Associates LLC reported 73 stock positions worth $369.1 million. Its top holding was SS SPDR BB 1-3M T-Bill ETF (BIL) at 10.7% of the portfolio, followed by SPDR Gold Shares (GLD, 8.7%) and Netflix (NFLX, 5.5%). Compared with Q2 2025, it opened 3 new positions, sold out of 2, added to 21 and reduced 17. The biggest buy was SS SPDR BB 1-3M T-Bill ETF (BIL, shares +805%) and the biggest sale Netflix (NFLX, shares −1%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001696494
Portfolio Value
$369.1M (Q3 2025)
SEC Filing
0001725547-25-004091 ↗ filed Oct 7, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $273.0M Q1 2024 Q2 2024: $260.6M Q2 2024 Q3 2024: $284.8M Q3 2024 Q4 2024: $279.6M Q4 2024 Q1 2025: $289.1M Q1 2025 Q2 2025: $285.8M Q2 2025 Q3 2025: $369.1M $369.1M Q3 2025 Q4 2025: $376.9M Q4 2025 Q1 2026: $389.3M Q1 2026 Q2 2026: $408.4M Q2 2026

Holdings 73 stocks · $369.1M
BIL SS SPDR BB 1-3M T-Bill ETF 10.73% 431,682 $39.6M Add +805.3%
GLD SPDR Gold Shares 8.65% 89,825 $31.9M Add +0.2%
NFLX Netflix Inc. 5.47% 16,835 $20.2M Reduce -0.6%
TSLA Tesla Inc. 5.24% 43,477 $19.3M Add +20.3%
GH Guardant Health Inc. 3.89% 230,083 $14.4M Add +39.1%
TLT iShares 20+ Year Treasury BD 3.85% 158,979 $14.2M Add +1.0%
GOOGL Alphabet Inc. Class A 3.48% 52,835 $12.8M Add +0.8%
MP MP Materials Corp. 3.40% 187,327 $12.6M Reduce -52.6%
ABNB Airbnb Inc. Class A 3.09% 93,857 $11.4M Add +77.8%
IEF iShares 7-10 Year Treasury B 3.05% 116,779 $11.3M Add +5.3%
IONS Ionis Pharmaceuticals Inc. 2.91% 164,318 $10.7M Reduce -11.3%
META Meta Platforms Inc. Class A 2.90% 14,580 $10.7M Reduce -0.1%
WFC Wells Fargo & Co. 2.55% 112,102 $9.4M No change
SYY Sysco Corp. 2.47% 110,655 $9.1M Reduce -0.0%
TRGP Targa Resources Corp. 2.41% 53,196 $8.9M Add +2.0%
ADBE Adobe Inc. 2.18% 22,829 $8.1M Add +164.6%
ILMN Illumina Inc. 2.14% 83,123 $7.9M Add +45.8%
XYZ Block Inc. 2.13% 108,937 $7.9M Add +0.1%
MDT Medtronic PLC 1.88% 72,727 $6.9M Reduce -0.0%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 1.77% 190,527 $6.5M No change
BG Bunge Global SA 1.71% 77,660 $6.3M Add +1.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.64% 52,836 $6.0M Add +0.5%
KHC The Kraft Heinz Co. 1.62% 230,165 $6.0M Reduce -0.0%
MGK Vngrd Mrgstr MG CP GR ETF-Ui 1.62% 14,821 $6.0M Add +1.3%
FSM Fortuna Mining Corp. 1.54% 636,236 $5.7M Reduce -0.4%
NTR Nutrien Ltd. 1.29% 80,921 $4.8M Add +0.1%
FDX FedEx Corp. 1.27% 19,854 $4.7M Reduce -0.0%
AAPL Apple Inc. 1.13% 16,364 $4.2M No change
ALB Albemarle Corp. 1.11% 50,312 $4.1M Add +0.9%
REGN Regeneron Pharmaceuticals 1.06% 6,981 $3.9M New
MOS The Mosaic Co. 1.03% 109,710 $3.8M Add +1.6%
NKE Nike Inc. Class B 0.94% 49,507 $3.5M Add +11.4%
T AT&T Inc. 0.88% 114,942 $3.2M Reduce -0.0%
GLW Corning Inc. 0.86% 38,903 $3.2M Reduce -0.0%
KO The Coca-Cola Co. 0.84% 46,602 $3.1M Reduce -0.1%
VXUS Vanguard Total Intl Stock 0.78% 39,326 $2.9M No change
CLX Clorox Company 0.75% 22,345 $2.8M No change
CPB The Campbell's Company 0.49% 57,000 $1.8M Reduce -10.9%
SBUX Starbucks Corp. 0.45% 19,753 $1.7M No change
PSLV Sprott Physical Silver Trust 0.42% 97,637 $1.5M No change
PDD PDD Holdings Inc. 0.38% 10,700 $1.4M No change
SLV iShares Silver Trust 0.35% 30,194 $1.3M Add +7.1%
BRK.B Berkshire Hathaway Inc. Class B 0.32% 2,350 $1.2M Add +261.5%
LOW Lowe's Cos Inc. 0.32% 4,689 $1.2M No change
CGON CG Oncology Inc. 0.27% 25,000 $1.0M No change
MCD McDonald's Corp. 0.26% 3,150 $957K No change
PG The Procter & Gamble Co. 0.18% 4,316 $663K No change
AMZN Amazon.com Inc. 0.17% 2,787 $612K No change
MSFT Microsoft Corp. 0.16% 1,122 $581K No change
WMT Walmart Inc. 0.16% 5,573 $574K No change
SHV iShares 0-1 Year Treasury Bo 0.15% 5,150 $569K No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.15% 5,000 $545K No change
JNJ Johnson & Johnson 0.11% 2,260 $419K No change
JPM JPMorgan Chase & Co. 0.10% 1,172 $370K Reduce -15.4%
HON Honeywell International Inc. 0.10% 1,706 $359K No change
GIS General Mills Inc. 0.10% 6,958 $351K No change
CB Chubb Ltd. 0.08% 1,050 $296K Reduce -16.0%
IVV iShares Core S&P 500 ETF 0.08% 436 $292K No change
VOT Vngrd Mrngstr MC GRW ETF-Usd 0.08% 965 $284K No change
VONG Vanguard Russell 1000 Growth 0.08% 2,313 $279K No change
IWD iShares Russell 1000 Value E 0.07% 1,317 $268K No change
RTX RTX Corp. 0.07% 1,529 $256K No change
VOO Vanguard S&P 500 ETF 0.07% 416 $255K Reduce -5.7%
GOOG Alphabet Inc. Class C 0.07% 1,040 $253K New
KGC Kinross Gold Corp. 0.07% 10,000 $249K Reduce -28.6%
BA The Boeing Co. 0.07% 1,139 $246K No change
MMM 3M Co. 0.06% 1,513 $235K No change
AFL Aflac Inc. 0.06% 2,098 $234K No change
SNOW Snowflake Inc. 0.06% 1,006 $227K No change
VGK Vanguard Ftse Europe ETF 0.06% 2,730 $218K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.06% 1,093 $204K New
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.05% 2,489 $202K No change
BTG B2GOLD Corp. 0.03% 20,000 $99K No change

Portfolio Sells Q2 2025 → Q3 2025
NFLX Netflix Inc. Reduce -0.6% 5.47% −2.47
MP MP Materials Corp. Reduce -52.6% 3.40% −1.20
META Meta Platforms Inc. Class A Reduce -0.1% 2.90% −0.87
SYY Sysco Corp. Reduce -0.0% 2.47% −0.46
KHC The Kraft Heinz Co. Reduce -0.0% 1.62% −0.46
MDT Medtronic PLC Reduce -0.0% 1.88% −0.34
KO The Coca-Cola Co. Reduce -0.1% 0.84% −0.32
FDX FedEx Corp. Reduce -0.0% 1.27% −0.31
T AT&T Inc. Reduce -0.0% 0.88% −0.28
CPB The Campbell's Company Reduce -10.9% 0.49% −0.20
EMR Emerson Electric Co. Sold out 0.00% −0.11
ROK Rockwell Automation Inc. Sold out 0.00% −0.09
CB Chubb Ltd. Reduce -16.0% 0.08% −0.05
JPM JPMorgan Chase & Co. Reduce -15.4% 0.10% −0.04
VOO Vanguard S&P 500 ETF Reduce -5.7% 0.07% −0.02
KGC Kinross Gold Corp. Reduce -28.6% 0.07% −0.01
FSM Fortuna Mining Corp. Reduce -0.4% 1.54% +0.08
GLW Corning Inc. Reduce -0.0% 0.86% +0.15
IONS Ionis Pharmaceuticals Inc. Reduce -11.3% 2.91% +0.35

Portfolio Buys Q2 2025 → Q3 2025
BIL SS SPDR BB 1-3M T-Bill ETF Add +805.3% 10.73% +9.20
TSLA Tesla Inc. Add +20.3% 5.24% +1.22
REGN Regeneron Pharmaceuticals New 1.06% +1.06
ADBE Adobe Inc. Add +164.6% 2.18% +1.01
GH Guardant Health Inc. Add +39.1% 3.89% +0.88
ABNB Airbnb Inc. Class A Add +77.8% 3.09% +0.64
GOOGL Alphabet Inc. Class A Add +0.8% 3.48% +0.25
ILMN Illumina Inc. Add +45.8% 2.14% +0.24
BRK.B Berkshire Hathaway Inc. Class B Add +261.5% 0.32% +0.21
GOOG Alphabet Inc. Class C New 0.07% +0.07
VTV Vanguard Mrngstr Val ETF-Aui New 0.06% +0.06
SLV iShares Silver Trust Add +7.1% 0.35% +0.02
ALB Albemarle Corp. Add +0.9% 1.11% +0.01
NKE Nike Inc. Class B Add +11.4% 0.94% −0.17
MGK Vngrd Mrgstr MG CP GR ETF-Ui Add +1.3% 1.62% −0.26
MOS The Mosaic Co. Add +1.6% 1.03% −0.35
NTR Nutrien Ltd. Add +0.1% 1.29% −0.36
BG Bunge Global SA Add +1.3% 1.71% −0.44
XYZ Block Inc. Add +0.1% 2.13% −0.45
DIS The Walt Disney Co. Add +0.5% 1.64% −0.64
IEF iShares 7-10 Year Treasury B Add +5.3% 3.05% −0.67
TRGP Targa Resources Corp. Add +2.0% 2.41% −0.76
GLD SPDR Gold Shares Add +0.2% 8.65% −0.91
TLT iShares 20+ Year Treasury BD Add +1.0% 3.85% −1.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 74$408.4MBIL, GH, GLD, TSLA, GOOGL
Q1 2026 74$389.3MBIL, GLD, GH, TSLA, GOOGL
Q4 2025 76$376.9MBIL, GLD, GH, TSLA, GOOGL
Q3 2025 73$369.1MBIL, GLD, NFLX, TSLA, GH
Q2 2025 72$285.8MGLD, NFLX, TLT, MP, TSLA
Q1 2025 66$289.1MGLD, NFLX, TLT, GILD, IEF
Q4 2024 69$279.6MGLD, NFLX, TLT, GOOGL, TSLA
Q3 2024 73$284.8MGLD, TLT, NFLX, META, GOOGL
Q2 2024 72$260.6MGLD, NFLX, GOOGL, META, SLB
Q1 2024 76$273.0MGLD, META, NFLX, KHC, FDX