Hedges Asset Management LLC

Registered adviser

CIK

1906202

Location

RENO, NV

Portfolio Value

Small $143,206,981

Diversification

Diversified

Filing Date

Global Rank

#7,371 / 8,827 ▼ 89 · as of Jun 2026

Top Industry

Aerospace & Defense 10.5%

Period ended 38 days ago

Filed Oct 29, 2026 · 9d

19 quarters · since Dec 2021

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Nov 1, 2026

Form ADV adviser

CRD 313637

Roster of Nov 1, 2026

Regulatory AUM

$178,000,000

Main clients

Individuals and high net worth (99% of AUM)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Feb 2026 to Nov 2026	$178,000,000	Individuals and high net worth (99%)
Feb 2025 to Jan 2026	$195,380,000	Individuals and high net worth (99%)
Feb 2024 to Jan 2025	$169,900,000	Individuals and high net worth (99%)
May 2023 to Jan 2024	$155,000,000	Individuals and high net worth (100%)
Mar 2023 to Apr 2023	$155,000,000	Individuals and high net worth (100%)
Feb 2022 to Feb 2023	$174,300,000	Individuals and high net worth (99%)

2 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, the newest measured quarter, never from the firm's own description.

Style

Diversified active

Top 10 weight 37.9%, 39.2 effective positions, active share 91.9% against every 13F filer's combined book; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Turnover unknown

It needs four straight quarters of measured turnover

Horizon

Long horizon

Value-weighted holding period 15.1 quarters (12+)

Closest benchmark: every 13F filer's combined book, active share 91.9%; sector active share 32.4% against the combined 13F book's sector weights.

Over time 18 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

106 tracked positions · as of Sep 30, 2026 · Δ vs Jun 30, 2026

Top Position

9.1%

−0.9 pts

Top 5

24.3%

−1.6 pts

Top 10

35.8%

−2.1 pts

HHI

237

Diversified−18

Portfolio Trend

19 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2026

Sector	% Portfolio	Value	Positions
Industrials	17.1%	$24,447,671	13
Financial Services	14.6%	$20,876,641	7
Consumer Cyclical	13.9%	$19,849,473	18
Unclassified	11.8%	$16,956,256	18
Basic Materials	10.7%	$15,392,876	12
Energy	8.8%	$12,549,473	9
Healthcare	7.3%	$10,474,369	11
Consumer Defensive	4.5%	$6,504,114	5
Technology	4.3%	$6,112,327	7
Communication Services	4.0%	$5,762,562	4
Real Estate	3.0%	$4,281,219	2

Last Quarter's Activity

Export CSV

Sep 30, 2026 vs Jun 30, 2026

Added To

Positions the filer increased

19 positions

Ticker	Company	Δ Shares	Shares	Value
ARCO	Arcos Dorados Holdings Inc.	+44,200	394,000	$2,817,100
LAC	Lithium Americas Corp.	+42,500	132,500	$348,475
GT	Goodyear Tire & Rubber Co	+23,000	221,000	$1,098,370
HONA	Honeywell Aerospace Inc.	+9,100	13,575	$2,103,717
WY	Weyerhaeuser Co	+7,000	68,750	$1,309,687
BROS	Dutch Bros Inc.	+6,200	17,300	$667,088
TSN	Tyson Foods, Inc.	+6,000	26,850	$1,356,730
GBCI	Glacier Bancorp, Inc.	+5,000	300,712	$12,990,758
DOW	Dow Inc.	+4,900	82,900	$2,283,066
DOG	ProShares Short Dow30	+4,900	19,150	$426,470
BP	Bp PLC	+3,791	78,847	$3,468,479
LUV	Southwest Airlines Co	+3,750	87,150	$3,628,926
WYNN	Wynn Resorts Ltd	+3,500	22,515	$1,788,366
PSQ	ProShares Short QQQ	+2,200	154,400	$3,832,208
NVO	Novo Nordisk A S	+1,000	31,400	$1,190,374
UPS	United Parcel Service Inc	+700	17,200	$1,607,168
PFE	Pfizer Inc	+400	10,500	$299,460
TGT	Target Corp	+350	10,550	$1,653,079
MTN	Vail Resorts Inc	+25	18,550	$2,544,689
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
FMC	Fmc Corp	−16,500	169,400	$1,511,048
CNH	CNH Industrial N.V.	−16,250	221,750	$2,849,487
MSOS	AdvisorShares Pure US Cannabis ETF	−15,000	126,000	$569,520
LIND	Lindblad Expeditions Holdings, Inc.	−8,750	71,050	$2,233,101
F	Ford Motor Co	−7,500	78,900	$951,534
INTC	Intel Corp	−6,550	27,100	$3,258,233
IMAX	Imax Corp	−5,600	41,550	$2,276,940
VZ	Verizon Communications Inc	−5,400	34,750	$1,593,982
NTNX	Nutanix, Inc.	−4,800	14,000	$985,740
CDE	Coeur Mining, Inc.	−4,616	108,200	$1,904,320
INSP	Inspire Medical Systems, Inc.	−4,400	4,300	$298,248
BCS	Barclays PLC	−4,000	90,500	$2,196,435
KHC	Kraft Heinz Co	−3,500	49,050	$1,114,416
MGM	MGM Resorts International	−3,500	12,500	$388,125
SHEL	Shell plc	−3,300	45,200	$4,296,260
EUFN	iShares MSCI Europe Financials ETF	−3,000	16,000	$636,480
WFC	Wells Fargo & Company	−2,750	12,750	$1,020,637
BAC	Bank Of America Corp	−2,700	12,000	$653,160
HON	Honeywell International Inc	−2,250	2,225	$469,341
FETH	Fidelity Ethereum Fund	−2,000	9,000	$239,130
HP	Helmerich & Payne, Inc.	−1,750	9,450	$350,973
DOCU	Docusign, Inc.	−1,000	4,500	$302,175
VGK	VANGUARD EUROPEAN STOCK INDEX FUND	−1,000	20,000	$1,736,000
MRK	Merck & Co., Inc.	−950	9,500	$1,380,445
DIS	Walt Disney Co	−750	8,450	$886,405
No positions match the current search.

New Positions

Positions the filer opened this quarter

2 positions

Ticker	Company	Shares	Value
VFC	V F Corp	47,000	$660,820
BABA	Alibaba Group Holding Ltd	2,300	$247,342
No positions match the current search.

Sold Out

Positions the filer fully exited

4 positions

Ticker	Company	Shares	Value
LYFT	Lyft, Inc.	39,600	$578,556
ONON	On Holding AG	8,500	$301,070
CTVA	Corteva, Inc.	2,800	$237,132
CPB	CAMPBELL'S Co	9,250	$205,997
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

106 tracked positions · $143,206,981 total · filing declares 106 positions · $143,989,641 · as of Sep 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology

Showing 1–50 of 106 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
GBCI	Glacier Bancorp, Inc. Financial Services	Added	300,712	+5,000	$12,990,758	−14.8%	9.07%
GE	General Electric Co Industrials	Reduced	19,425	-50	$6,066,233	−16.7%	4.24%
BA	Boeing Co Industrials	Held	27,600	0	$5,134,980	−14.1%	3.59%
SHEL	Shell plc Energy	Reduced	45,200	-3,300	$4,296,260	+14.2%	3.00%
PSQ	ProShares Short QQQ	Added	154,400	+2,200	$3,832,208	+0.5%	2.68%
LUV	Southwest Airlines Co Industrials	Added	87,150	+3,750	$3,628,926	−15.4%	2.53%
BP	Bp PLC Energy	Added	78,847	+3,791	$3,468,479	+25.1%	2.42%
INTC	Intel Corp Technology	Reduced	27,100	-6,550	$3,258,233	−30.7%	2.28%
GDX	VanEck Gold Miners ETF	Reduced	36,350	-200	$3,191,530	+15.7%	2.23%
GLPI	Gaming & Leisure Properties, Inc. Real Estate	Held	78,260	0	$2,971,532	−14.7%	2.07%
CNH	CNH Industrial N.V. Industrials	Reduced	221,750	-16,250	$2,849,487	+6.6%	1.99%
ARCO	Arcos Dorados Holdings Inc. Consumer Cyclical	Added	394,000	+44,200	$2,817,100	−0.1%	1.97%
PENN	PENN Entertainment, Inc. Consumer Cyclical	Held	188,900	0	$2,767,385	−31.4%	1.93%
MTN	Vail Resorts Inc Consumer Cyclical	Added	18,550	+25	$2,544,689	+0.9%	1.78%
DOW	Dow Inc. Basic Materials	Added	82,900	+4,900	$2,283,066	+7.0%	1.59%
IMAX	Imax Corp Communication Services	Reduced	41,550	-5,600	$2,276,940	+21.2%	1.59%
LIND	Lindblad Expeditions Holdings, Inc. Consumer Cyclical	Reduced	71,050	-8,750	$2,233,101	−0.9%	1.56%
B	Barrick Mining Corp Basic Materials	Held	54,550	0	$2,218,548	+10.7%	1.55%
BCS	Barclays PLC Financial Services	Reduced	90,500	-4,000	$2,196,435	−13.5%	1.53%
HONA	Honeywell Aerospace Inc. Industrials	Added	13,575	+9,100	$2,103,717	+112.6%	1.47%
NEM	NEWMONT Corp Basic Materials	Reduced	18,000	-650	$2,076,120	+19.2%	1.45%
SH	ProShares Short S&P500	Reduced	63,700	-500	$2,063,880	−2.6%	1.44%
PAAS	Pan American Silver Corp Basic Materials	Held	43,065	0	$1,959,888	+1.6%	1.37%
PHYS	Sprott Physical Gold Trust Financial Services	Held	61,000	0	$1,907,470	+3.6%	1.33%
CDE	Coeur Mining, Inc. Basic Materials	Reduced	108,200	-4,616	$1,904,320	+3.4%	1.33%
WYNN	Wynn Resorts Ltd Consumer Cyclical	Added	22,515	+3,500	$1,788,366	−3.1%	1.25%
VGK	VANGUARD EUROPEAN STOCK INDEX FUND	Reduced	20,000	-1,000	$1,736,000	−6.6%	1.21%
ELAN	Elanco Animal Health Inc Healthcare	Reduced	74,500	-500	$1,668,055	−9.6%	1.16%
TGT	Target Corp Consumer Defensive	Added	10,550	+350	$1,653,079	+24.1%	1.15%
UPS	United Parcel Service Inc Industrials	Added	17,200	+700	$1,607,168	−9.4%	1.12%
VZ	Verizon Communications Inc Communication Services	Reduced	34,750	-5,400	$1,593,982	−6.2%	1.11%
FMC	Fmc Corp Basic Materials	Reduced	169,400	-16,500	$1,511,048	−29.3%	1.06%
VTRS	Viatris Inc Healthcare	Reduced	81,000	-250	$1,435,320	+11.2%	1.00%
SLB	Slb Limited Energy	Held	28,700	0	$1,398,264	+4.8%	0.98%
MRK	Merck & Co., Inc. Healthcare	Reduced	9,500	-950	$1,380,445	+2.8%	0.96%
PPLT	abrdn Platinum ETF Trust	Held	89,500	0	$1,379,195	+9.1%	0.96%
TSN	Tyson Foods, Inc. Consumer Defensive	Added	26,850	+6,000	$1,356,730	+13.7%	0.95%
CRSP	CRISPR Therapeutics AG Healthcare	Reduced	24,425	-150	$1,351,191	+0.8%	0.94%
UL	Unilever PLC Consumer Defensive	Held	22,150	0	$1,345,169	+1.0%	0.94%
L	Loews Corp Financial Services	Held	12,700	0	$1,326,261	−7.8%	0.93%
WY	Weyerhaeuser Co Real Estate	Added	68,750	+7,000	$1,309,687	−11.4%	0.91%
IFF	International Flavors & Fragrances Inc Basic Materials	Reduced	14,300	-25	$1,193,764	+5.2%	0.83%
NVO	Novo Nordisk A S Healthcare	Added	31,400	+1,000	$1,190,374	−18.3%	0.83%
MDT	Medtronic plc Healthcare	Reduced	13,550	-500	$1,169,229	+6.4%	0.82%
CVX	Chevron Corp Energy	Reduced	5,700	-250	$1,163,997	+18.0%	0.81%
KHC	Kraft Heinz Co Consumer Defensive	Reduced	49,050	-3,500	$1,114,416	−10.2%	0.78%
GT	Goodyear Tire & Rubber Co Consumer Cyclical	Added	221,000	+23,000	$1,098,370	−15.9%	0.77%
MKC	Mccormick & Co Inc Consumer Defensive	Reduced	22,300	-200	$1,034,720	−8.8%	0.72%
WFC	Wells Fargo & Company Financial Services	Reduced	12,750	-2,750	$1,020,637	−20.3%	0.71%
CNK	Cinemark Holdings, Inc. Communication Services	Reduced	26,950	-250	$1,005,235	+16.5%	0.70%

Showing the top 50 of 106 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.