Systrade AG
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 12, 2026), Systrade AG reported 15 stock positions worth $163.9 million. Its top holding was Alpha Metallurgical Resource (AMR) at 34.1% of the portfolio, followed by Interactive Brokers Gro Class A (IBKR, 19.6%) and UBS Group AG-Reg (UBS, 17.8%). Compared with Q3 2025, it opened 7 new positions, sold out of 4, added to 4 and reduced 1. The biggest buy was a new position in Alpha Metallurgical Resource (AMR) and the biggest sale an exit from Barrick Mining (B).
- Most Recent 13F
- Q2 2026
- Location
- VADUZ, N2
- CIK
- 0001818160
- Portfolio Value
- $163.9M (Q4 2025)
- SEC Filing
- 0001818160-26-000001 ↗ filed Jan 12, 2026
Holdings Value
Holdings 15 stocks · $163.9M
| AMR Alpha Metallurgical Resource | 34.14% | 280,000 | $56.0M | New |
| IBKR Interactive Brokers Gro Class A | 19.62% | 500,000 | $32.2M | No change |
| UBS UBS Group AG-Reg | 17.78% | 625,000 | $29.1M | No change |
| CRESY Cresud S.A.-Spons ADR | 8.21% | 1,064,993 | $13.5M | Add +190.5% |
| NTRA Natera Inc. | 6.99% | 50,000 | $11.5M | New |
| AMZN Amazon.com Inc. | 4.77% | 33,900 | $7.8M | New |
| LOMA Loma Negra Cia Ind-Spon ADR | 1.98% | 250,000 | $3.2M | Reduce -34.7% |
| GGAL Grupo Financiero Galicia-ADR | 1.48% | 45,000 | $2.4M | Add +80.0% |
| IRS Irsa -SP ADR filed as IRSA INVERSIONES Y REP S A | 1.21% | 119,780 | $2.0M | Add +8.9% |
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 1.10% | 50,000 | $1.8M | Add +11.1% |
| GPN Global Payments Inc. | 0.94% | 20,000 | $1.5M | New |
| BNTX Biontech SE-ADR | 0.58% | 10,000 | $952K | No change |
| TGS Transportador Gas-ADR SP B | 0.47% | 25,000 | $777K | New |
| BRK.A Berkshire Hathaway Inc. Class A | 0.46% | 1 | $755K | New |
| TSLA Tesla Inc. | 0.27% | 1,000 | $450K | New |
Portfolio Sells Q3 2025 → Q4 2025
Portfolio Buys Q3 2025 → Q4 2025
| AMR Alpha Metallurgical Resource | New | 34.14% | +34.14 |
| NTRA Natera Inc. | New | 6.99% | +6.99 |
| CRESY Cresud S.A.-Spons ADR | Add +190.5% | 8.21% | +5.71 |
| AMZN Amazon.com Inc. | New | 4.77% | +4.77 |
| GGAL Grupo Financiero Galicia-ADR | Add +80.0% | 1.48% | +0.97 |
| GPN Global Payments Inc. | New | 0.94% | +0.94 |
| TGS Transportador Gas-ADR SP B | New | 0.47% | +0.47 |
| BRK.A Berkshire Hathaway Inc. Class A | New | 0.46% | +0.46 |
| YPF YPF S.A.-Sponsored ADR | Add +11.1% | 1.10% | +0.30 |
| TSLA Tesla Inc. | New | 0.27% | +0.27 |
| IRS Irsa -SP ADR | Add +8.9% | 1.21% | +0.25 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 14 | $159.7M | AMR, IBKR, UBS, NTRA, CRESY |
| Q1 2026 | 11 | $149.0M | AMR, IBKR, UBS, CRESY, NTRA |
| Q4 2025 | 15 | $163.9M | AMR, IBKR, UBS, CRESY, NTRA |
| Q3 2025 | 12 | $135.4M | B, IBKR, UBS, CRESY, LOMA |
| Q2 2025 | 13 | $88.3M | B, UBS, AMZN, NEM, CRESY |
| Q1 2025 | 13 | $71.8M | B, UBS, NEM, CRESY, YPF |
| Q4 2024 | 13 | $58.6M | B, UBS, NEM, YPF, CRESY |
| Q3 2024 | 7 | $47.6M | B, UBS, VAL, BABA, BNTX |
| Q2 2024 | 5 | $58.4M | AMR, UBS, BNTX, YPF, SHEL |
| Q1 2024 | 4 | $82.6M | AMR, SHEL, BNTX, YPF |