Hedges Asset Management LLC
Reported holdings as of Q2 2026, from 18 quarterly filings.
This filer last reported in Q2 2026; the most recent quarter on file across all filers is Q3 2026. Firms that restructure stop filing under one CIK and start under another, so a successor entity may hold these positions now under a similar name.
Holdings
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| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| GLACIER BANCORP INC NEW | GBCI | $15.3M | 295,712 | +0.84pp | 18q | HELD | |
| GE AEROSPACE | GE | $7.3M | 19,475 | +0.06pp | 18q | -10.3%-$831.5K | |
| BOEING CO | BA | $6.0M | 27,600 | flat | 18q | +7.8%+$432.9K | |
| INTEL CORP | INTC | $4.7M | 33,650 | +1.72pp | 18q | -35.8%-$2.6M | |
| SOUTHWEST AIRLS CO | LUV | $4.3M | 83,400 | +0.19pp | 18q | -7.4%-$344.5K | |
| PENN ENTERTAINMENT INC | PENN | $4.0M | 188,900 | +0.75pp | 18q | +3.7%+$144.2K | |
| PROSHARES TR | PSQ | $3.8M | 152,200 | +1.05pp | 8q | +122.8%+$2.1M | |
| SHELL PLC | SHEL | $3.8M | 48,500 | -0.44pp | 17q | -13.5%-$589.3K | |
| GAMING & LEISURE P | GLPI | $3.5M | 78,260 | -0.18pp | 18q | HELD | |
| ARCOS DORADOS HLDGS INC | ARCO | $2.8M | 349,800 | +0.36pp | 18q | +21.5%+$498.9K | |
| BP PLC | BP | $2.8M | 75,056 | -0.02pp | 18q | HELD | |
| VANECK ETF TRUST | GDX | $2.8M | 36,550 | -0.60pp | 18q | -8.4%-$252.8K | |
| CNH INDL N V | CNH | $2.7M | 238,000 | +0.97pp | 10q | +96.7%+$1.3M | |
| BARCLAYS PLC | BCS | $2.5M | 94,500 | -0.50pp | 2q | -21.6%-$698.4K | |
| VAIL RESORTS INC | MTN | $2.5M | 18,525 | - | new | NEW | |
| LINDBLAD EXPEDITIONS HLDGS I | LIND | $2.3M | 79,800 | +0.06pp | 18q | -43.0%-$1.7M | |
| FMC CORP | FMC | $2.1M | 185,900 | +0.42pp | 10q | +85.7%+$986.7K | |
| DOW HLDGS INC | DOW | $2.1M | 78,000 | +0.04pp | 18q | -5.1%-$114.9K | |
| PROSHARES TR | SH | $2.1M | 64,200 | -0.36pp | 2q | -7.0%-$158.5K | |
| BARRICK MNG CORP | B | $2.0M | 54,550 | -0.31pp | 4q | +3.3%+$64.3K | |
| PAN AMERN SILVER CORP | PAAS | $1.9M | 43,065 | -0.36pp | 3q | -3.4%-$67.5K | |
| IMAX CORP | IMAX | $1.9M | 47,150 | -0.24pp | 2q | -16.5%-$372.7K | |
| VANGUARD INTL EQUITY INDEX F | VGK | $1.9M | 21,000 | -0.02pp | 18q | HELD | |
| WYNN RESORTS LTD | WYNN | $1.8M | 19,015 | -0.40pp | 18q | HELD | |
| ELANCO ANIMAL HEALTH INC | ELAN | $1.8M | 75,000 | flat | 17q | -1.3%-$24.6K | |
| COEUR MNG INC | CDE | $1.8M | 112,816 | - | new | NEW | |
| SPROTT ASSET MANAGEMENT LP | PHYS | $1.8M | 61,000 | -0.31pp | 18q | -6.2%-$120.7K | |
| UNITED PARCEL SVCS INC | UPS | $1.8M | 16,500 | +0.46pp | 18q | +65.0%+$698.8K | |
| NEWMONT CORP | NEM | $1.7M | 18,650 | -0.18pp | 18q | -1.1%-$18.7K | |
| VERIZON COMMUNICATIONS INC | VZ | $1.7M | 40,150 | -0.46pp | 18q | -26.8%-$622.4K | |
| WEYERHAEUSER CO | WY | $1.5M | 61,750 | +0.04pp | 7q | +11.3%+$149.6K | |
| NOVO-NORDISK A S | NVO | $1.5M | 30,400 | - | new | NEW | |
| LOEWS CORP | L | $1.4M | 12,700 | flat | 18q | HELD | |
| MERCK & CO INC | MRK | $1.3M | 10,450 | -0.15pp | 18q | -24.8%-$443.3K | |
| CRISPR THERAPEUTICS AG | CRSP | $1.3M | 24,575 | +0.04pp | 18q | +7.9%+$98.2K | |
| SLB LIMITED | SLB | $1.3M | 28,700 | -0.06pp | 18q | -17.3%-$278.9K | |
| TARGET CORP | TGT | $1.3M | 10,200 | +0.15pp | 2q | -3.3%-$45.7K | |
| UNILEVER PLC | UL | $1.3M | 22,150 | -0.19pp | 2q | -4.1%-$57.3K | |
| GOODYEAR TIRE & RUBR CO | GT | $1.3M | 198,000 | +0.26pp | 17q | +106.2%+$673.2K | |
| VIATRIS INC | VTRS | $1.3M | 81,250 | +0.10pp | 18q | -3.8%-$51.6K | |
| WELLS FARGO & CO | WFC | $1.3M | 15,500 | -0.21pp | 18q | -3.1%-$41.3K | |
| ABRDN PLATINUM ETF TRUST | PPLT | $1.3M | 89,500 | -0.41pp | 6q | +847.1%+$1.1M | |
| KRAFT HEINZ CO | KHC | $1.2M | 52,550 | +0.03pp | 11q | +14.5%+$157.1K | |
| INTERNATIONAL BUSINESS MACHS | IBM | $1.2M | 4,300 | -0.17pp | 18q | -6.5%-$84.4K | |
| FORD MTR CO | F | $1.2M | 86,400 | -0.08pp | 18q | -7.8%-$101.5K | |
| TYSON FOODS INC | TSN | $1.2M | 20,850 | -0.07pp | 8q | HELD | |
| INTERNATIONAL FLAVORS&FRAGRA | IFF | $1.1M | 14,325 | -0.01pp | 12q | -9.9%-$124.8K | |
| MCCORMICK & CO INC | MKC | $1.1M | 22,500 | - | new | NEW | |
| WILLIAMS COS INC | WMB | $1.1M | 14,900 | -0.05pp | 18q | -19.0%-$260.2K | |
| MEDTRONIC PLC | MDT | $1.1M | 14,050 | +0.46pp | 18q | +260.3%+$794.0K | |
| HONEYWELL INTL INC | HON | $1.0M | 4,475 | - | new | NEW | |
| HONEYWELL AEROSPACE INC | HONA | $989.3K | 4,475 | - | new | NEW | |
| CHEVRON CORPORATION | CVX | $986.3K | 5,950 | -0.55pp | 18q | -46.4%-$853.7K | |
| NUTANIX INC | NTNX | $958.0K | 18,800 | -0.07pp | 18q | -1.6%-$15.3K | |
| DISNEY WALT CO | DIS | $885.5K | 9,200 | +0.04pp | 14q | +36.3%+$235.8K | |
| BRISTOL-MYERS SQUIBB CO | BMY | $878.7K | 15,250 | -0.06pp | 18q | -9.1%-$87.9K | |
| CINEMARK HLDGS INC | CNK | $863.1K | 27,200 | +0.03pp | 18q | -16.3%-$168.2K | |
| BANK OF AMER CORP | BAC | $837.6K | 14,700 | -0.03pp | 18q | -1.3%-$11.4K | |
| MOBILEYE GLOBAL INC | MBLY | $825.2K | 85,250 | +0.38pp | 2q | +287.5%+$612.3K | |
| SCHWAB CHARLES CORP | SCHW | $802.7K | 8,700 | -0.14pp | 18q | -7.4%-$64.6K | |
| DUTCH BROS INC | BROS | $797.1K | 11,100 | +0.15pp | 13q | +29.1%+$179.5K | |
| SHAKE SHACK INC | SHAK | $781.5K | 13,950 | -0.23pp | 18q | +6.9%+$50.4K | |
| MGM RESORTS INTERNATIONAL | MGM | $765.0K | 16,000 | +0.02pp | 18q | -14.4%-$129.1K | |
| ALASKA AIR GROUP INC | ALK | $746.5K | 14,300 | - | new | NEW | |
| ISHARES TR | EUFN | $740.8K | 19,000 | -0.06pp | 18q | -9.5%-$78.0K | |
| FEDEX CORP | FDX | $735.9K | 2,350 | -0.69pp | 18q | -59.1%-$1.1M | |
| ADVISORSHARES TR | MSOS | $716.3K | 141,000 | +0.04pp | 17q | +10.2%+$66.0K | |
| 3M CO | MMM | $671.9K | 4,150 | +0.01pp | 18q | +9.2%+$56.7K | |
| ISHARES SILVER TR | SLV | $668.4K | 12,500 | -0.13pp | 18q | HELD | |
| FIGS INC | FIGS | $649.6K | 63,500 | -0.08pp | 9q | HELD | |
| SOCIEDAD QUIMICA Y MINERA DE | SQM | $644.1K | 8,700 | -0.15pp | 18q | -25.6%-$222.1K | |
| NUTRIEN LTD | NTR | $623.2K | 9,900 | -0.04pp | 6q | -4.8%-$31.5K | |
| LYFT INC | LYFT | $578.6K | 39,600 | -0.82pp | 18q | -54.8%-$701.3K | |
| ENVISTA HOLDINGS CORPORATION | NVST | $494.1K | 18,750 | +0.01pp | 8q | -9.9%-$54.0K | |
| AIRBNB INC | ABNB | $479.4K | 3,350 | -0.01pp | 7q | HELD | |
| ISHARES TR | IEV | $473.5K | 6,500 | flat | 18q | HELD | |
| KRANESHARES TRUST | KWEB | $469.8K | 19,200 | +0.02pp | 17q | +62.7%+$181.1K | |
| HONDA MOTOR CO LTD | HMC | $455.4K | 16,800 | -0.03pp | 17q | +6.3%+$27.1K | |
| ROGERS CORP | ROG | $429.8K | 2,625 | +0.04pp | 9q | -30.9%-$192.4K | |
| INSPIRE MED SYS INC | INSP | $388.1K | 8,700 | flat | 3q | +123.1%+$214.1K | |
| VANGUARD INTL EQUITY INDEX F | VEU | $385.2K | 4,600 | +0.01pp | 18q | HELD | |
| CAMECO CORP | CCJ | $376.9K | 3,700 | -0.06pp | 4q | -21.3%-$101.9K | |
| HELMERICH & PAYNE INC | HP | $366.7K | 11,200 | -0.09pp | 4q | -31.3%-$167.0K | |
| ISHARES TR | FXI | $360.1K | 11,400 | -0.07pp | 9q | HELD | |
| WISDOMTREE TR | DFE | $359.9K | 5,000 | -0.02pp | 18q | HELD | |
| LITHIUM AMERS CORP NEW | LAC | $346.5K | 90,000 | +0.01pp | 10q | +28.6%+$77.0K | |
| KINDER MORGAN INC DEL | KMI | $335.7K | 10,500 | -0.02pp | 18q | -16.0%-$63.9K | |
| WHEATON PRECIOUS METALS CORP | WPM | $325.7K | 2,900 | -0.12pp | 8q | -27.5%-$123.6K | |
| ISHARES TR | EEM | $321.5K | 4,700 | +0.03pp | 5q | HELD | |
| INVESCO EXCHANGE TRADED FD T | RSP | $319.2K | 1,500 | +0.01pp | 18q | HELD | |
| EDWARDS LIFESCIENCES CORP | EW | $316.6K | 3,500 | -0.03pp | 2q | -10.3%-$36.2K | |
| GRANITE CONSTR INC | GVA | $316.2K | 2,000 | flat | 7q | -20.0%-$79.0K | |
| PROSHARES TR | DOG | $308.1K | 14,250 | -0.42pp | 3q | -61.9%-$501.6K | |
| ON HLDG AG | ONON | $301.1K | 8,500 | - | new | NEW | |
| DELTA AIR LINES INC | DAL | $299.7K | 3,200 | +0.02pp | 3q | -13.5%-$46.8K | |
| VANGUARD TAX-MANAGED FDS | VEA | $285.0K | 4,000 | +0.01pp | 5q | HELD | |
| CONOCOPHILLIPS | COP | $280.7K | 2,700 | -0.04pp | 18q | -20.6%-$72.8K | |
| MCDONALDS CORP | MCD | $270.3K | 1,000 | -0.04pp | 18q | HELD | |
| WABTEC | WAB | $269.6K | 1,000 | -0.06pp | 18q | -35.5%-$148.3K | |
| DOCUSIGN INC | DOCU | $244.3K | 5,500 | - | new | NEW | |
| PFIZER INC | PFE | $243.2K | 10,100 | - | new | NEW | |
| COREWEAVE INC | CRWV | $238.9K | 2,400 | - | new | NEW | |
| CORTEVA INC | CTVA | $237.1K | 2,800 | -0.01pp | 18q | -20.0%-$59.3K | |
| FRANCO NEV CORP | FNV | $218.9K | 1,050 | -0.03pp | 3q | -12.5%-$31.3K | |
| THE CAMPBELLS COMPANY | CPB | $206.0K | 9,250 | -0.14pp | 3q | -33.9%-$105.8K | |
| TELEFONAKTIEBOLAGET LM ERICS | ERIC | $200.7K | 18,000 | +0.01pp | 18q | HELD | |
| FIDELITY ETHEREUM FD | FETH | $173.1K | 11,000 | - | new | NEW | |
| STELLANTIS N.V | STLA | $86.1K | 15,000 | - | new | NEW |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Banks & Lending | $20.1M | 13.2% |
| Semiconductors & Electronics | $12.2M | 8.0% |
| Energy | $10.9M | 7.2% |
| Transport & Logistics | $10.1M | 6.6% |
| Mining & Metals | $9.4M | 6.2% |
| Chemicals | $9.4M | 6.2% |
| Biotech & Pharma | $8.4M | 5.5% |
| Autos & Aerospace | $8.0M | 5.2% |
| Business Services | $7.7M | 5.1% |
| Retail & Consumer | $6.7M | 4.4% |
| Telecom & Media | $6.0M | 3.9% |
| Real Estate | $5.0M | 3.3% |
| Other sectors | $21.3M | 14.0% |
| Not classified | $17.3M | 11.3% |
What the disclosed book did
This is not the fund's return. A 13F shows long US equity positions only, so shorts, bonds, foreign listings, private holdings and cash are all invisible here. What this measures is the quarter's change in value of the positions this manager disclosed, had they been left untouched - the return a reader following the filing would have earned.
| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q1 2026 | +4.5% | -4.6% | +9.2% | 98% |
| Q4 2025 | +3.0% | +2.4% | +0.7% | 100% |
| Q3 2025 | +8.9% | +7.8% | +1.1% | 100% |
| Q2 2025 | +6.4% | +10.5% | -4.1% | 106% |
| Q1 2025 | +2.1% | -4.6% | +6.6% | 100% |
| Q4 2024 | -1.0% | +2.1% | -3.1% | 100% |
| Q3 2024 | +6.8% | +5.4% | +1.4% | 100% |
| Q2 2024 | -4.1% | +4.0% | -8.2% | 98% |
Market is SPY over the same two quarter ends, priced the same way as everything else here - the median across every filer reporting it. It is a large-cap US proxy, so a manager holding small caps or biotech will beat or trail it for reasons that are not skill. Prices are quarter-end to quarter-end and say nothing about the path in between, or about trades opened and closed inside a quarter.
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q2 2026 | $152.4M | 108 | 13 | 24 | 52 | 13 | 36.4% | 27 |
| Q4 2025 | $141.8M | 108 | 11 | 20 | 33 | 5 | 34.1% | 27 |
| Q3 2025 | $130.6M | 102 | 9 | 19 | 26 | 8 | 37.1% | 8 |
| Q2 2025 | $124.5M | 101 | 5 | 8 | 64 | 12 | 36.1% | 7 |
| Q1 2025 | $152.2M | 108 | 3 | 15 | 31 | 5 | 34.3% | 24 |
| Q4 2024 | $151.5M | 110 | 3 | 28 | 21 | 5 | 34.7% | 17 |
| Q3 2024 | $151.1M | 112 | 5 | 27 | 29 | 4 | 33.8% | 24 |
| Q2 2024 | $139.3M | 111 | 6 | 18 | 44 | 8 | 33.1% | 19 |
| Q1 2024 | $142.7M | 113 | 11 | 23 | 29 | 4 | 34.1% | 24 |
| Q4 2023 | $128.0M | 106 | 6 | 22 | 32 | 7 | 37.5% | 10 |
| Q3 2023 | $114.5M | 107 | 5 | 24 | 27 | 4 | 35.9% | 31 |
| Q2 2023 | $118.0M | 106 | 4 | 18 | 22 | 1 | 35.6% | 13 |
| Q1 2023 | $117.9M | 103 | 3 | 38 | 26 | 7 | 38.9% | 18 |
| Q4 2022 | $112.0M | 107 | 9 | 25 | 25 | 5 | 42.0% | 34 |
| Q3 2022 | $100.2M | 103 | 3 | 15 | 21 | 2 | 42.4% | 18 |
| Q2 2022 | $105.9M | 102 | 2 | 20 | 19 | 11 | 40.8% | 26 |
| Q1 2022 | $129.1M | 111 | 8 | 26 | 17 | 17 | 38.0% | 40 |
| Q4 2021 | $128.6M | 120 | 0 | 0 | 0 | 0 | 38.5% | 39 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.