Stansberry Asset Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Stansberry Asset Management, LLC reported 143 stock positions worth $944.8 million. Its top holding was Alphabet Class A (GOOGL) at 4.2% of the portfolio, followed by Amazon.com (AMZN, 3.0%) and Axis Capital (AXS, 2.8%). Compared with Q2 2025, it opened 16 new positions, sold out of 7, added to 76 and reduced 40. The biggest buy was Alphabet Class A (GOOGL, shares +19%) and the biggest sale Barrick Mining (B, shares −90%).
- Most Recent 13F
- Q2 2026
- Location
- Westlake, TX
- CIK
- 0001725910
- Portfolio Value
- $944.8M (Q3 2025)
- SEC Filing
- 0000919574-25-006877 ↗ filed Nov 14, 2025
Holdings Value
Holdings 143 stocks · $944.8M
| GOOGL Alphabet Inc. Class A | 4.15% | 161,332 | $39.2M | Add +18.8% |
| AMZN Amazon.com Inc. | 3.04% | 130,615 | $28.7M | Add +22.0% |
| AXS Axis Capital Holdings Ltd. | 2.84% | 280,345 | $26.9M | Reduce -0.4% |
| SGOV iShares 0-3 Month Treasury B | 2.80% | 262,458 | $26.4M | Add +7.7% |
| MSFT Microsoft Corp. | 2.76% | 50,362 | $26.1M | Add +0.1% |
| V Visa Inc. Class A | 2.63% | 72,855 | $24.9M | Add +1.9% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 2.53% | 312,205 | $23.9M | Reduce -7.1% |
| MKL Markel Group Inc. | 2.50% | 12,342 | $23.6M | Add +46.7% |
| CME Cme Group Inc. | 2.30% | 80,562 | $21.8M | Add +1.2% |
| KO The Coca-Cola Co. | 2.14% | 304,990 | $20.2M | Add +16.0% |
| CRH CRH PLC | 2.11% | 166,239 | $19.9M | Add +26.6% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 2.11% | 611,029 | $19.9M | Add +19.7% |
| ICE Intercontinental Exchange Inc. | 2.08% | 116,773 | $19.7M | Add +51.6% |
| COCO The Vita Coco Co. Inc. | 2.00% | 445,418 | $18.9M | Add +0.6% |
| MELI MercadoLibre Inc. | 1.98% | 8,011 | $18.7M | Add +23.7% |
| ALLE Allegion PLC | 1.70% | 90,737 | $16.1M | Add +69.5% |
| FIX Comfort Systems USA Inc. | 1.69% | 19,359 | $16.0M | Reduce -5.7% |
| AEM Agnico Eagle Mines Ltd. | 1.68% | 93,903 | $15.8M | Add +2.0% |
| MBB iShares MBS ETF | 1.67% | 165,595 | $15.8M | Reduce -25.3% |
| PSMT Pricesmart Inc. | 1.64% | 127,793 | $15.5M | Add +2.4% |
| AIR Aar Corp. | 1.58% | 166,729 | $15.0M | Reduce -1.8% |
| DPZ Domino's Pizza Inc. | 1.57% | 34,259 | $14.8M | Add +0.8% |
| TLT iShares 20+ Year Treasury BD | 1.52% | 161,036 | $14.4M | Reduce -24.3% |
| NVDA Nvidia Corp. | 1.43% | 72,354 | $13.5M | Reduce -7.9% |
| VRRM Verra Mobility Corp. | 1.43% | 546,095 | $13.5M | Add +54.0% |
| CBOE Cboe Global Markets Inc. | 1.37% | 52,924 | $13.0M | Add +2.0% |
| AXP American Express Co. | 1.37% | 38,985 | $12.9M | Add +0.3% |
| TFPM Triple Flag Precious Met | 1.33% | 429,536 | $12.6M | Reduce -0.1% |
| LLY Eli Lilly & Co. | 1.28% | 15,834 | $12.1M | Add +37.1% |
| RGLD Royal Gold Inc. | 1.26% | 59,511 | $11.9M | Add +67.8% |
| TKR Timken Co. | 1.24% | 155,760 | $11.7M | Reduce -10.8% |
| TRV The Travelers Cos Inc. | 1.20% | 40,516 | $11.3M | Add +3.5% |
| DHR Danaher Corp. | 1.20% | 57,044 | $11.3M | Add +132.0% |
| SPGI S&P Global Inc. | 1.16% | 22,570 | $11.0M | Add +3.1% |
| FISV Fiserv Inc. | 1.12% | 82,335 | $10.6M | Reduce -1.5% |
| VRSN Verisign Inc. | 1.11% | 37,621 | $10.5M | Add +8.9% |
| META Meta Platforms Inc. Class A | 1.10% | 14,187 | $10.4M | Add +10.1% |
| ZETA Zeta Global Holdings Corp. Class A | 1.09% | 518,787 | $10.3M | Reduce -1.7% |
| KYN Kayne Anderson Energy Infra | 1.08% | 825,032 | $10.2M | Reduce -0.5% |
| JMBS Janus Henderson Mortg Backed | 0.98% | 203,360 | $9.3M | Reduce -32.3% |
| SHEL Shell PLC-ADR | 0.97% | 128,406 | $9.2M | Add +44.8% |
| KGC Kinross Gold Corp. | 0.96% | 364,394 | $9.1M | Add +3.8% |
| AMLP Alerian MLP ETF | 0.95% | 191,220 | $9.0M | Add +0.5% |
| AVGO Broadcom Inc. | 0.92% | 26,252 | $8.7M | Add +2290.9% |
| INTU Intuit Inc. | 0.82% | 11,322 | $7.7M | Add +5.4% |
| DDOG Datadog Inc. Class A | 0.80% | 53,293 | $7.6M | Add +206.8% |
| TXNM TXNM Energy Inc. | 0.79% | 131,182 | $7.4M | New |
| GD General Dynamics Corp. | 0.76% | 20,956 | $7.1M | Add +354.7% |
| RITM Rithm Capital Corp. | 0.74% | 613,487 | $7.0M | Add +2.8% |
| PH Parker Hannifin Corp. | 0.74% | 9,166 | $6.9M | Add +388.9% |
| MCD McDonald's Corp. | 0.72% | 22,455 | $6.8M | Add +4.9% |
| VZ Verizon Communications Inc. | 0.72% | 154,064 | $6.8M | Add +0.7% |
| UGI Ugi Corp. | 0.71% | 201,019 | $6.7M | Add +3.0% |
| VRSK Verisk Analytics Inc. | 0.69% | 25,928 | $6.5M | Reduce -39.6% |
| AAPL Apple Inc. | 0.67% | 24,869 | $6.3M | Add +21.1% |
| CSL Carlisle Cos Inc. | 0.66% | 19,035 | $6.3M | Reduce -1.9% |
| PLNT Planet Fitness Inc. Class A | 0.64% | 58,231 | $6.0M | Add +2.0% |
| HSY The Hershey Co. | 0.59% | 29,593 | $5.5M | Add +5.1% |
| HD Home Depot Inc. | 0.57% | 13,351 | $5.4M | Add +7.0% |
| BTI British American Tob-SP ADR | 0.56% | 100,295 | $5.3M | New |
| MTN Vail Resorts Inc. | 0.55% | 34,803 | $5.2M | Reduce -1.0% |
| KNSL Kinsale Capital Group Inc. | 0.54% | 12,068 | $5.1M | Add +0.4% |
| XYL Xylem Inc. | 0.51% | 32,544 | $4.8M | Reduce -0.9% |
| GLDM SPDR Gold Minishares Trust | 0.49% | 60,399 | $4.6M | Add +12.1% |
| NVR NVR Inc. | 0.48% | 565 | $4.5M | Reduce -6.3% |
| EZBC Franklin Bitcoin ETF | 0.48% | 68,169 | $4.5M | Add +3.0% |
| FNV Franco-Nevada Corp. | 0.48% | 20,168 | $4.5M | Add +14.3% |
| JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC | 0.45% | 28,735 | $4.3M | Reduce -45.1% |
| KVUE Kenvue Inc. | 0.37% | 214,126 | $3.5M | Reduce -51.4% |
| CRM Salesforce Inc. | 0.34% | 13,385 | $3.2M | Add +249.3% |
| DBMF Imgp Dbi MFT STR ETF-Usd Inc. | 0.33% | 115,726 | $3.2M | Reduce -0.8% |
| VNOM Viper Energy Inc. Class A | 0.33% | 82,030 | $3.1M | New |
| ITB iShares U.S. Home Constructi | 0.30% | 26,250 | $2.8M | Add +30.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.29% | 5,438 | $2.7M | Reduce -69.7% |
| RNR Renaissancere Holdings Ltd. | 0.28% | 10,409 | $2.6M | Reduce -0.1% |
| C Citigroup Inc. | 0.26% | 24,173 | $2.5M | Add +0.8% |
| SBUX Starbucks Corp. | 0.24% | 27,087 | $2.3M | Add +9.4% |
| CTAS Cintas Corp. | 0.24% | 11,130 | $2.3M | Reduce -12.6% |
| FBTC Fidelity Wise Origin Bitcoin | 0.23% | 21,853 | $2.2M | Add +0.9% |
| HODL Vaneck Bitcoin ETF | 0.22% | 64,731 | $2.1M | New |
| B Barrick Mining Corp. | 0.22% | 63,216 | $2.1M | Reduce -90.0% |
| HROW Harrow Inc. | 0.20% | 40,201 | $1.9M | Reduce -16.8% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.20% | 6,544 | $1.8M | Add +1.1% |
| LAMR Lamar Advertising Co. Class A | 0.19% | 15,040 | $1.8M | Add +1.8% |
| GBTC Grayscale Bitcoin Trust ETF | 0.19% | 19,527 | $1.8M | Reduce -1.2% |
| OR Or Royalties Inc. | 0.16% | 38,732 | $1.6M | Reduce -88.0% |
| NEM Newmont Corp. | 0.16% | 18,226 | $1.5M | Add +19.1% |
| ABNB Airbnb Inc. Class A | 0.16% | 12,608 | $1.5M | Reduce -2.2% |
| SOFI Sofi Technologies Inc. | 0.15% | 53,406 | $1.4M | New |
| PAAS Pan American Silver Corp. | 0.15% | 35,701 | $1.4M | Add +22.4% |
| SGDJ Sprott Jr. Gold Miners ETF | 0.14% | 18,885 | $1.4M | Add +16.6% |
| AFG American Financial Group Inc. | 0.14% | 9,267 | $1.4M | Add +0.6% |
| TSLA Tesla Inc. | 0.14% | 2,982 | $1.3M | Add +43.4% |
| GDX Vaneck Gold Miners ETF | 0.14% | 17,171 | $1.3M | Add +16.2% |
| LMT Lockheed Martin Corp. | 0.13% | 2,505 | $1.3M | Reduce -58.4% |
| AOS Smith (a.o.) Corp. | 0.13% | 16,874 | $1.2M | Add +1.2% |
| ASML ASML Holding NV-NY Reg SHS | 0.13% | 1,275 | $1.2M | Add +46.7% |
| GLPI Gaming and Leisure Propertie | 0.13% | 26,115 | $1.2M | New |
| EQX Equinox Gold Corp. | 0.12% | 97,814 | $1.1M | Add +19.7% |
| SA Seabridge Gold Inc. | 0.11% | 41,526 | $1.0M | Add +14.9% |
Options reported separately and not counted above: OR calls ($23K), PAAS calls ($16K), KGC calls ($7K), RGLD calls ($4K).
Other holdings (1): bonds, preferreds, convertibles and warrants · $11.1M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | 281,278 | $11.1M | Add +63.0% |
Total filed on the 13F, all lines: $955.9M.
Portfolio Sells Q2 2025 → Q3 2025
| B Barrick Mining Corp. | Reduce -90.0% | 0.22% | −1.31 |
| VRSK Verisk Analytics Inc. | Reduce -39.6% | 0.69% | −0.85 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.84 |
| OR Or Royalties Inc. | Reduce -88.0% | 0.16% | −0.80 |
| NVO Novo-Nordisk A/S-Spons ADR | Sold out | 0.00% | −0.76 |
| MBB iShares MBS ETF | Reduce -25.3% | 1.67% | −0.74 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -69.7% | 0.29% | −0.72 |
| KVUE Kenvue Inc. | Reduce -51.4% | 0.37% | −0.70 |
| TLT iShares 20+ Year Treasury BD | Reduce -24.3% | 1.52% | −0.65 |
| JKHY Jack Henry & Associates Inc. | Reduce -45.1% | 0.45% | −0.64 |
| ABEV Ambev SA-ADR | Reduce -83.0% | 0.11% | −0.62 |
| SNOW Snowflake Inc. | Reduce -85.3% | 0.10% | −0.61 |
| JMBS Janus Henderson Mortg Backed | Reduce -32.3% | 0.98% | −0.58 |
| FISV Fiserv Inc. | Reduce -1.5% | 1.12% | −0.54 |
| AXS Axis Capital Holdings Ltd. | Reduce -0.4% | 2.84% | −0.54 |
| FLUT Flutter Entertainment PLC-Di | Reduce -79.5% | 0.09% | −0.47 |
| WRB WR Berkley Corp. | Reduce -7.1% | 2.53% | −0.32 |
| STR Sitio Royalties Corp. Class A | Sold out | 0.00% | −0.30 |
| TKR Timken Co. | Reduce -10.8% | 1.24% | −0.22 |
| LMT Lockheed Martin Corp. | Reduce -58.4% | 0.13% | −0.19 |
| CSL Carlisle Cos Inc. | Reduce -1.9% | 0.66% | −0.17 |
| KYN Kayne Anderson Energy Infra | Reduce -0.5% | 1.08% | −0.14 |
| ESGR Enstar Group Ltd. | Sold out | 0.00% | −0.11 |
| MTN Vail Resorts Inc. | Reduce -1.0% | 0.55% | −0.09 |
| CTAS Cintas Corp. | Reduce -12.6% | 0.24% | −0.09 |
| BRK.A Berkshire Hathaway Inc. Class A | Sold out | 0.00% | −0.08 |
| CTLP Cantaloupe Inc. | Sold out | 0.00% | −0.08 |
| INTT Intest Corp. | Sold out | 0.00% | −0.04 |
| ABNB Airbnb Inc. Class A | Reduce -2.2% | 0.16% | −0.04 |
| NVR NVR Inc. | Reduce -6.3% | 0.48% | −0.03 |
| SNAP Snap Inc. Class A | Reduce -3.6% | 0.07% | −0.02 |
| CWH Camping World Holdings Inc. Class A | Reduce -3.0% | 0.06% | −0.01 |
| RNR Renaissancere Holdings Ltd. | Reduce -0.1% | 0.28% | −0.01 |
| DBMF Imgp Dbi MFT STR ETF-Usd Inc. | Reduce -0.8% | 0.33% | −0.01 |
| GBTC Grayscale Bitcoin Trust ETF | Reduce -1.2% | 0.19% | −0.01 |
| CSGP Costar Group Inc. | Reduce -2.7% | 0.08% | −0.01 |
| NVDA Nvidia Corp. | Reduce -7.9% | 1.43% | −0.01 |
| VGIT Vanguard Intermediate-Term T | Reduce -2.1% | 0.04% | −0.00 |
| SSD Simpson Manufacturing Co. Inc. | Reduce -2.6% | 0.07% | −0.00 |
| BILL Bill Holdings Inc. | Reduce -2.6% | 0.06% | +0.00 |
| GNRC Generac Holdings Inc. | Reduce -2.9% | 0.06% | +0.00 |
| XYL Xylem Inc. | Reduce -0.9% | 0.51% | +0.02 |
| HROW Harrow Inc. | Reduce -16.8% | 0.20% | +0.03 |
| ZETA Zeta Global Holdings Corp. Class A | Reduce -1.7% | 1.09% | +0.15 |
| TFPM Triple Flag Precious Met | Reduce -0.1% | 1.33% | +0.15 |
| AIR Aar Corp. | Reduce -1.8% | 1.58% | +0.23 |
| FIX Comfort Systems USA Inc. | Reduce -5.7% | 1.69% | +0.42 |
Portfolio Buys Q2 2025 → Q3 2025
| GOOGL Alphabet Inc. Class A | Add +18.8% | 4.15% | +1.39 |
| AVGO Broadcom Inc. | Add +2290.9% | 0.92% | +0.88 |
| ALLE Allegion PLC | Add +69.5% | 1.70% | +0.81 |
| TXNM TXNM Energy Inc. | New | 0.79% | +0.79 |
| CRH CRH PLC | Add +26.6% | 2.11% | +0.72 |
| DHR Danaher Corp. | Add +132.0% | 1.20% | +0.64 |
| GD General Dynamics Corp. | Add +354.7% | 0.76% | +0.60 |
| PH Parker Hannifin Corp. | Add +388.9% | 0.74% | +0.58 |
| BTI British American Tob-SP ADR | New | 0.56% | +0.56 |
| MKL Markel Group Inc. | Add +46.7% | 2.50% | +0.55 |
| RGLD Royal Gold Inc. | Add +67.8% | 1.26% | +0.53 |
| DDOG Datadog Inc. Class A | Add +206.8% | 0.80% | +0.53 |
| ICE Intercontinental Exchange Inc. | Add +51.6% | 2.08% | +0.45 |
| AEM Agnico Eagle Mines Ltd. | Add +2.0% | 1.68% | +0.41 |
| VRRM Verra Mobility Corp. | Add +54.0% | 1.43% | +0.39 |
| VNOM Viper Energy Inc. Class A | New | 0.33% | +0.33 |
| KGC Kinross Gold Corp. | Add +3.8% | 0.96% | +0.32 |
| AMZN Amazon.com Inc. | Add +22.0% | 3.04% | +0.32 |
| SHEL Shell PLC-ADR | Add +44.8% | 0.97% | +0.25 |
| LLY Eli Lilly & Co. | Add +37.1% | 1.28% | +0.24 |
| HODL Vaneck Bitcoin ETF | New | 0.22% | +0.22 |
| CRM Salesforce Inc. | Add +249.3% | 0.34% | +0.21 |
| VICI Vici Properties Inc. | Add +19.7% | 2.11% | +0.19 |
| AAPL Apple Inc. | Add +21.1% | 0.67% | +0.18 |
| COCO The Vita Coco Co. Inc. | Add +0.6% | 2.00% | +0.16 |
| SOFI Sofi Technologies Inc. | New | 0.15% | +0.15 |
| FNV Franco-Nevada Corp. | Add +14.3% | 0.48% | +0.14 |
| GLPI Gaming and Leisure Propertie | New | 0.13% | +0.13 |
| PSMT Pricesmart Inc. | Add +2.4% | 1.64% | +0.12 |
| CGAU Centerra Gold Inc. | New | 0.10% | +0.10 |
| SMG Scotts Miracle-Gro Co. | New | 0.09% | +0.09 |
| BN Brookfield Corp. | New | 0.09% | +0.09 |
| ITB iShares U.S. Home Constructi | Add +30.6% | 0.30% | +0.08 |
| GLDM SPDR Gold Minishares Trust | Add +12.1% | 0.49% | +0.08 |
| GSHD Goosehead Insurance Inc. Class A | New | 0.07% | +0.07 |
| CRWD CrowdStrike Holdings Inc. Class A | New | 0.07% | +0.07 |
| VEEV Veeva Systems Inc. Class A | New | 0.07% | +0.07 |
| TSLA Tesla Inc. | Add +43.4% | 0.14% | +0.06 |
| EQX Equinox Gold Corp. | Add +19.7% | 0.12% | +0.06 |
| NEM Newmont Corp. | Add +19.1% | 0.16% | +0.06 |
| SN Sharkninja Inc. | New | 0.06% | +0.06 |
| PSLV Sprott Physical Silver Trust | Add +285.7% | 0.07% | +0.06 |
| PAAS Pan American Silver Corp. | Add +22.4% | 0.15% | +0.05 |
| SGDJ Sprott Jr. Gold Miners ETF | Add +16.6% | 0.14% | +0.05 |
| ASML ASML Holding NV-NY Reg SHS | Add +46.7% | 0.13% | +0.05 |
| GDX Vaneck Gold Miners ETF | Add +16.2% | 0.14% | +0.05 |
| HSY The Hershey Co. | Add +5.1% | 0.59% | +0.05 |
| SA Seabridge Gold Inc. | Add +14.9% | 0.11% | +0.05 |
| PHYS Sprott Physical Gold Trust | New | 0.04% | +0.04 |
| HD Home Depot Inc. | Add +7.0% | 0.57% | +0.04 |
Options Activity Q2 2025 → Q3 2025
| OR Or Royalties Inc. | call | New | 1,000 | $23K |
| PAAS Pan American Silver Corp. | call | New | 1,200 | $16K |
| KGC Kinross Gold Corp. | call | New | 500 | $7K |
| RGLD Royal Gold Inc. | call | New | 100 | $4K |
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
| AFFIRM HOLDINGS INC (AFRM 0 11/15/26) | NOTE 11/1 · principal | Sold out | 17,519,000 | $16.4Mbefore exit |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | Add +63.0% | 281,278 | $11.1M |
| SNAP INC (SNAP 0 05/01/27) | NOTE 5/0 · principal | Sold out | 11,671,000 | $10.6Mbefore exit |
| SNAP INC (SNAP 0.5 05/01/30) | NOTE 0.500% 5/0 · principal | Sold out | 9,531,000 | $8.1Mbefore exit |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | Sold out | 6,280,000 | $6.1Mbefore exit |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | Sold out | 1,845,000 | $1.7Mbefore exit |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | Sold out | 427,000 | $382Kbefore 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 | 139 | $1.0B | GOOGL, AMZN, AIR, AXS, GD |
| Q1 2026 | 139 | $954.8M | SGOV, GOOGL, AXS, CME, AMZN |
| Q4 2025 | 144 | $975.6M | GOOGL, AMZN, AXS, MKL, SGOV |
| Q3 2025 | 143 | $944.8M | GOOGL, AMZN, AXS, SGOV, MSFT |
| Q2 2025 | 134 | $865.3M | AXS, V, MSFT, WRB, SGOV |
| Q1 2025 | 123 | $797.2M | SGOV, WRB, AXS, V, SHEL |
| Q4 2024 | 118 | $721.5M | GOOGL, AMZN, AXS, WRB, V |
| Q3 2024 | 120 | $749.7M | CPRI, GOOGL, AMZN, WRB, SHEL |
| Q2 2024 | 123 | $717.3M | GOOGL, CPRI, SHEL, WRB, AMZN |
| Q1 2024 | 118 | $697.5M | CPRI, GOOGL, WRB, SHEL, TKR |