Hedges Asset Management LLC

CIK

1906202

Location

RENO, NV

Portfolio Value

Small $127,030,624

Diversification

Diversified

Filing Date

Global Rank

#5,126 / 8,420 ▲ 181

Top Industry

Banks - Regional 10.7%

3Y Alpha vs SPY

-1.0%

Period ended 6 months ago

Filed Jan 27, 2026 · 5mo

17 quarters · since Dec 2021

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+72.1%

SPY

+76.3%

Annualised alpha

-1.0%

Max drawdown

−19.6%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

93 positions · as of Dec 31, 2025 · Δ vs Sep 30, 2025

Top Position

10.2%

−1.9 pts

Top 5

26.1%

−3.1 pts

Top 10

37.2%

−3.7 pts

HHI

265

Diversified−51

Portfolio Trend

17 quarters · across all stocks

Sector Breakdown

As of Dec 31, 2025

Sector	% Portfolio	Value	Positions
Financial Services	18.2%	$23,088,689	8
Industrials	18.1%	$22,965,258	11
Consumer Cyclical	12.3%	$15,620,873	14
Basic Materials	11.1%	$14,055,940	14
Energy	9.8%	$12,418,251	9
Healthcare	7.6%	$9,662,155	12
Technology	6.1%	$7,710,887	8
Communication Services	5.0%	$6,296,041	6
Consumer Defensive	4.1%	$5,261,818	5
Unclassified	4.0%	$5,138,478	4
Real Estate	3.8%	$4,812,234	2

Last Quarter's Activity

Export CSV

Dec 31, 2025 vs Sep 30, 2025

Added To

Positions the filer increased

20 positions

Ticker	Company	Δ Shares	Shares	Value
FMC	Fmc Corp	+58,800	100,100	$1,388,387
LAC	Lithium Americas Corp.	+20,000	70,000	$305,200
WY	Weyerhaeuser Co	+18,500	55,500	$1,314,795
CNH	CNH Industrial N.V.	+11,500	121,000	$1,115,620
PENN	PENN Entertainment, Inc.	+6,000	182,150	$2,686,712
HON	Honeywell International Inc	+5,725	8,950	$1,746,055
GBCI	Glacier Bancorp, Inc.	+5,000	295,223	$13,004,573
CPB	CAMPBELL'S Co	+4,500	14,000	$390,180
DOW	Dow Inc.	+1,300	82,200	$1,921,836
COP	Conocophillips	+1,000	3,400	$318,274
VTRS	Viatris Inc	+1,000	84,500	$1,052,025
BA	Boeing Co	+950	25,600	$5,558,272
DIS	Walt Disney Co	+700	6,750	$767,947
INSP	Inspire Medical Systems, Inc.	+400	3,900	$359,697
CNK	Cinemark Holdings, Inc.	+300	32,500	$755,300
VZ	Verizon Communications Inc	+300	54,850	$2,234,040
CRSP	CRISPR Therapeutics AG	+275	22,775	$1,194,321
BP	Bp PLC	+211	75,067	$2,607,076
HMC	Honda Motor Co Ltd	+100	15,800	$465,784
SHAK	Shake Shack Inc.	+25	13,050	$1,059,268
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
WBD	Warner Bros. Discovery, Inc.	−66,300	10,000	$288,200
NVST	Envista Holdings Corp	−20,000	20,800	$451,568
PSLV	Sprott Physical Silver Trust	−19,500	12,000	$283,800
GT	Goodyear Tire & Rubber Co /Oh/	−17,000	96,000	$840,960
ARCO	Arcos Dorados Holdings Inc.	−11,200	287,900	$2,113,186
NGD	New Gold Inc. /FI	−10,000	257,500	$2,242,825
B	Barrick Mining Corp	−8,200	52,800	$2,299,440
LYFT	Lyft, Inc.	−7,900	87,600	$1,696,812
KHC	Kraft Heinz Co	−7,025	45,900	$1,113,075
BKD	Brookdale Senior Living Inc.	−5,000	137,000	$1,478,230
PAAS	Pan American Silver Corp	−3,381	44,572	$2,309,275
UBER	Uber Technologies, Inc	−2,400	9,750	$796,672
IFF	International Flavors & Fragrances Inc	−1,900	15,900	$1,071,501
BMY	Bristol Myers Squibb Co	−1,800	16,775	$904,843
WFC	Wells Fargo & Company/Mn	−1,500	16,000	$1,491,200
LIND	Lindblad Expeditions Holdings, Inc.	−1,400	139,900	$2,017,358
GE	General Electric Co	−1,250	21,700	$6,684,251
FIGS	FIGS, Inc.	−1,000	63,500	$721,360
PSKY	Paramount Skydance Corp	−977	12,113	$162,314
LUV	Southwest Airlines Co	−700	90,100	$3,723,833
ELAN	Elanco Animal Health Inc	−500	76,000	$1,719,880
WYNN	Wynn Resorts Ltd	−400	19,015	$2,288,074
SLB	Slb Limited/Nv	−300	34,700	$1,331,786
GEHC	GE HealthCare Technologies Inc.	−300	3,400	$278,868
INTC	Intel Corp	−200	52,400	$1,933,560
No positions match the current search.

New Positions

Positions the filer opened this quarter

10 positions

Ticker	Company	Shares	Value
BCS	Barclays PLC	120,500	$3,066,725
IMAX	Imax Corp	56,500	$2,088,240
UL	Unilever PLC	23,103	$1,510,936
TGT	Target Corp	10,550	$1,031,262
Q	Qnity Electronics, Inc.	5,050	$412,332
EW	Edwards Lifesciences Corp	3,900	$332,475
AA	Alcoa Corp	5,000	$265,700
MBLY	Mobileye Global Inc.	22,000	$229,680
ALB	Albemarle Corp	1,500	$212,160
SGMO	Sangamo Therapeutics, Inc	125,000	$52,500
No positions match the current search.

Sold Out

Positions the filer fully exited

4 positions

Ticker	Company	Shares	Value
DD	DuPont de Nemours, Inc.	10,400	$338,978
CRWV	CoreWeave, Inc.	2,300	$314,755
GEV	GE Vernova Inc.	500	$307,450
BABA	Alibaba Group Holding Ltd	1,175	$210,007
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

93 positions · $127,030,624 total · as of Dec 31, 2025

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

Showing 1–50 of 93 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SGMO	Sangamo Therapeutics, Inc Healthcare	NEW	125,000	NEW	$52,500	NEW	0.04%
PSKY	Paramount Skydance Corp Communication Services	Reduced	12,113	-977	$162,314	−34.5%	0.13%
ERIC	Ericsson Lm Telephone Co Technology	Held	18,000	0	$173,700	+16.7%	0.14%
ALB	Albemarle Corp Basic Materials	NEW	1,500	NEW	$212,160	NEW	0.17%
MBLY	Mobileye Global Inc. Consumer Cyclical	NEW	22,000	NEW	$229,680	NEW	0.18%
CTVA	Corteva, Inc. Basic Materials	Held	3,500	0	$234,605	−0.9%	0.18%
FNV	FRANCO NEVADA Corp Basic Materials	Held	1,200	0	$248,736	−7.0%	0.20%
DAL	Delta Air Lines, Inc. Industrials	Held	3,700	0	$256,780	+22.3%	0.20%
AA	Alcoa Corp Basic Materials	NEW	5,000	NEW	$265,700	NEW	0.21%
GEHC	GE HealthCare Technologies Inc. Healthcare	Reduced	3,400	-300	$278,868	+0.4%	0.22%
PSLV	Sprott Physical Silver Trust Financial Services	Reduced	12,000	-19,500	$283,800	−42.6%	0.22%
WBD	Warner Bros. Discovery, Inc. Communication Services	Reduced	10,000	-66,300	$288,200	−80.7%	0.23%
GVA	Granite Construction Inc Industrials	Held	2,500	0	$288,375	+5.2%	0.23%
LAC	Lithium Americas Corp. Basic Materials	Added	70,000	+20,000	$305,200	+6.9%	0.24%
MCD	Mcdonalds Corp Consumer Cyclical	Held	1,000	0	$305,630	+0.6%	0.24%
COP	Conocophillips Energy	Added	3,400	+1,000	$318,274	+40.2%	0.25%
SGOL	abrdn Gold ETF Trust	Held	8,000	0	$328,640	+11.6%	0.26%
WAB	Westinghouse Air Brake Technologies Corp Industrials	Reduced	1,550	-100	$330,847	+0.0%	0.26%
EW	Edwards Lifesciences Corp Healthcare	NEW	3,900	NEW	$332,475	NEW	0.26%
KMI	Kinder Morgan, Inc. Energy	Held	12,500	0	$343,625	−2.9%	0.27%
ROG	Rogers Corp Technology	Held	3,800	0	$347,966	+13.8%	0.27%
INSP	Inspire Medical Systems, Inc. Healthcare	Added	3,900	+400	$359,697	+38.5%	0.28%
MDT	Medtronic plc Healthcare	Held	3,900	0	$374,634	+0.9%	0.29%
CPB	CAMPBELL'S Co Consumer Defensive	Added	14,000	+4,500	$390,180	+30.1%	0.31%
Q	Qnity Electronics, Inc. Technology	NEW	5,050	NEW	$412,332	NEW	0.32%
CCJ	Cameco Corp Energy	Reduced	4,700	-100	$430,003	+6.8%	0.34%
NVST	Envista Holdings Corp Healthcare	Reduced	20,800	-20,000	$451,568	−45.7%	0.36%
ABNB	Airbnb, Inc. Consumer Cyclical	Held	3,350	0	$454,662	+11.8%	0.36%
HMC	Honda Motor Co Ltd Consumer Cyclical	Added	15,800	+100	$465,784	−3.7%	0.37%
HP	Helmerich & Payne, Inc. Energy	Held	16,300	0	$467,484	+29.8%	0.37%
WPM	Wheaton Precious Metals Corp. Basic Materials	Held	4,000	0	$470,080	+5.1%	0.37%
BROS	Dutch Bros Inc. Consumer Cyclical	Held	8,600	0	$526,492	+17.0%	0.41%
MMM	3M Co Industrials	Held	3,800	0	$608,380	+3.2%	0.48%
NTR	Nutrien Ltd. Basic Materials	Reduced	10,400	-100	$641,888	+4.1%	0.51%
MGM	MGM Resorts International Consumer Cyclical	Held	18,700	0	$682,363	+5.3%	0.54%
FIGS	FIGS, Inc. Consumer Cyclical	Reduced	63,500	-1,000	$721,360	+67.2%	0.57%
CNK	Cinemark Holdings, Inc. Communication Services	Added	32,500	+300	$755,300	−16.3%	0.59%
DIS	Walt Disney Co Communication Services	Added	6,750	+700	$767,947	+10.9%	0.60%
UBER	Uber Technologies, Inc Technology	Reduced	9,750	-2,400	$796,672	−33.1%	0.63%
SQM	Chemical & Mining Co Of Chile Inc Basic Materials	Held	11,700	0	$804,960	+60.1%	0.63%
SLV	iShares Silver Trust	Held	12,500	0	$805,250	+52.0%	0.63%
BAC	Bank Of America Corp /De/ Financial Services	Reduced	14,900	-100	$819,500	+5.9%	0.65%
GT	Goodyear Tire & Rubber Co /Oh/ Consumer Cyclical	Reduced	96,000	-17,000	$840,960	−0.5%	0.66%
BMY	Bristol Myers Squibb Co Healthcare	Reduced	16,775	-1,800	$904,843	+8.0%	0.71%
SCHW	Schwab Charles Corp Financial Services	Held	9,400	0	$939,154	+4.7%	0.74%
NTNX	Nutanix, Inc. Technology	Held	19,100	0	$987,279	−30.5%	0.78%
UPS	United Parcel Service Inc Industrials	Reduced	10,000	-200	$991,900	+16.4%	0.78%
TGT	Target Corp Consumer Defensive	NEW	10,550	NEW	$1,031,262	NEW	0.81%
VTRS	Viatris Inc Healthcare	Added	84,500	+1,000	$1,052,025	+27.3%	0.83%
SHAK	Shake Shack Inc. Consumer Cyclical	Added	13,050	+25	$1,059,268	−13.1%	0.83%