13F HOLDINGS REPORT

Hedges Asset Management LLC

Quarter ended Q3 2025 · Filed October 8, 2025 · Accession 0002085853-25-000036

Total Value

$130.6M

Positions

102

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (102)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	GLACIER BANCORP INC NEW	GBCI	290,223	$14.1M	10.82%
2	GE AEROSPACE	369604301	22,950	$6.9M	5.29%
3	BOEING CO	BA-PA	24,650	$5.3M	4.08%
4	SHELL PLC	RYDAF	56,100	$4.0M	3.07%
5	GAMING & LEISURE PPTYS INC	36467J108	78,260	$3.6M	2.79%
6	PENN ENTERTAINMENT INC	PENN	176,150	$3.4M	2.60%
7	VANECK ETF TRUST	92189F106	39,900	$3.0M	2.33%
8	SOUTHWEST AIRLS CO	844741108	90,800	$2.9M	2.22%
9	BP PLC	BPPFF	74,856	$2.6M	1.98%
10	WYNN RESORTS LTD	WYNN	19,415	$2.5M	1.91%
11	VERIZON COMMUNICATIONS INC	VZ	54,550	$2.4M	1.84%
12	PROSHARES TR	74349Y837	71,900	$2.2M	1.71%
13	LYFT INC	LYFT	95,500	$2.1M	1.61%
14	ARCOS DORADOS HOLDINGS INC	ARCO	299,100	$2.0M	1.55%
15	BARRICK MNG CORP	06849F108	61,000	$2.0M	1.53%
16	SPROTT ASSET MANAGEMENT LP	SII	65,000	$1.9M	1.47%
17	NEW GOLD INC CDA	644535106	267,500	$1.9M	1.47%
18	PAN AMERN SILVER CORP	697900108	47,953	$1.9M	1.42%
19	DOW INC	DOW	80,900	$1.9M	1.42%
20	LINDBLAD EXPEDITIONS HLDGS I	LIND	141,300	$1.8M	1.39%
21	INTEL CORP	INTC	52,600	$1.8M	1.35%
22	CHEVRON CORP NEW	CVX	11,100	$1.7M	1.32%
23	VANGUARD INTL EQUITY INDEX F	922042874	21,000	$1.7M	1.28%
24	NEWMONT CORP	NEMCL	18,950	$1.6M	1.22%
25	UNILEVER PLC	UNLYF	26,000	$1.5M	1.18%
26	ELANCO ANIMAL HEALTH INC	ELAN	76,500	$1.5M	1.18%
27	WARNER BROS DISCOVERY INC	WBD	76,300	$1.5M	1.14%
28	WELLS FARGO CO NEW	949746101	17,500	$1.5M	1.12%
29	CRISPR THERAPEUTICS AG	CRSP	22,500	$1.5M	1.12%
30	NUTANIX INC	NTNX	19,100	$1.4M	1.09%
31	FMC CORP	FMC	41,300	$1.4M	1.06%
32	KRAFT HEINZ CO	KHC	52,925	$1.4M	1.06%
33	ABRDN PLATINUM ETF TRUST	PPLT	9,600	$1.4M	1.05%
34	FEDEX CORP	FDX	5,750	$1.4M	1.04%
35	INTERNATIONAL BUSINESS MACHS	INTR	4,800	$1.4M	1.04%
36	LOEWS CORP	L	12,700	$1.3M	0.98%
37	SHAKE SHACK INC	SHAK	13,025	$1.2M	0.93%
38	SCHLUMBERGER LTD	SLB	35,000	$1.2M	0.92%
39	BROOKDALE SR LIVING INC	112463104	142,000	$1.2M	0.92%
40	UBER TECHNOLOGIES INC	UBER	12,150	$1.2M	0.91%
41	CNH INDL N V	N20944109	109,500	$1.2M	0.91%
42	MERCK & CO INC	MRK	13,900	$1.2M	0.89%
43	WILLIAMS COS INC	969457100	18,400	$1.2M	0.89%
44	TYSON FOODS INC	TSN	20,750	$1.1M	0.86%
45	FORD MTR CO	345370860	93,700	$1.1M	0.86%
46	INTERNATIONAL FLAVORS&FRAGRA	459506101	17,800	$1.1M	0.84%
47	WEYERHAEUSER CO MTN BE	WY	37,000	$917,230	0.70%
48	CINEMARK HLDGS INC	CNK	32,200	$902,244	0.69%
49	SCHWAB CHARLES CORP	SCHW-PJ	9,400	$897,418	0.69%
50	UNITED PARCEL SERVICE INC	UPS	10,200	$852,006	0.65%
51	GOODYEAR TIRE & RUBR CO	382550101	113,000	$845,240	0.65%
52	PROSHARES TR	74347B235	34,500	$839,730	0.64%
53	BRISTOL-MYERS SQUIBB CO	CELG-RI	18,575	$837,733	0.64%
54	ENVISTA HOLDINGS CORPORATION	NVST	40,800	$831,096	0.64%
55	VIATRIS INC	VTRS	83,500	$826,650	0.63%
56	DUPONT DE NEMOURS INC	DD	10,400	$810,160	0.62%
57	BANK AMERICA CORP	060505104	15,000	$773,850	0.59%
58	ISHARES TR	464289180	21,000	$721,140	0.55%
59	DISNEY WALT CO	254687106	6,050	$692,725	0.53%
60	HONEYWELL INTL INC	438516106	3,225	$678,863	0.52%
61	MGM RESORTS INTERNATIONAL	MGM	18,700	$648,142	0.50%
62	NUTRIEN LTD	NTR	10,500	$616,455	0.47%
63	3M CO	MMM	3,800	$589,684	0.45%
64	ISHARES SILVER TR	SLV	12,500	$529,625	0.41%
65	SOCIEDAD QUIMICA Y MINERA DE	833635105	11,700	$502,866	0.39%
66	KRANESHARES TRUST	500767306	11,800	$495,718	0.38%
67	SPROTT ASSET MANAGEMENT LP	SII	31,500	$494,550	0.38%
68	HONDA MOTOR LTD	HNDAF	15,700	$483,560	0.37%
69	ISHARES TR	464287184	11,400	$468,996	0.36%
70	DUTCH BROS INC	BROS	8,600	$450,124	0.34%
71	WHEATON PRECIOUS METALS CORP	WPM	4,000	$447,360	0.34%
72	FIGS INC	FIGS	64,500	$431,505	0.33%
73	ISHARES TR	464287861	6,500	$425,620	0.33%
74	AIRBNB INC	ABNB	3,350	$406,757	0.31%
75	CAMECO CORP	CCJ	4,800	$402,528	0.31%
76	ADVISORSHARES TR	00768Y453	78,000	$373,620	0.29%
77	MEDTRONIC PLC	MDT	3,900	$371,436	0.28%
78	HELMERICH & PAYNE INC	HP	16,300	$360,067	0.28%
79	KINDER MORGAN INC DEL	EP-PC	12,500	$353,875	0.27%
80	WISDOMTREE TR	WT	5,000	$352,092	0.27%
81	WABTEC	929740108	1,650	$330,776	0.25%
82	VANGUARD INTL EQUITY INDEX F	922042775	4,600	$328,302	0.25%
83	COREWEAVE INC	CRWV	2,300	$314,755	0.24%
84	GE VERNOVA INC	GEV	500	$307,450	0.24%
85	ROGERS CORP	ROG	3,800	$305,748	0.23%
86	MCDONALDS CORP	MCD	1,000	$303,890	0.23%
87	THE CAMPBELLS COMPANY	CPB	9,500	$300,010	0.23%
88	ETFS GOLD TR	00326A104	8,000	$294,480	0.23%
89	LITHIUM AMERS CORP NEW	LTUM	50,000	$285,500	0.22%
90	INVESCO EXCHANGE TRADED FD T	IVZ	1,500	$284,550	0.22%
91	GE HEALTHCARE TECHNOLOGIES I	GEHC	3,700	$277,870	0.21%
92	GRANITE CONSTR INC	GVA	2,500	$274,125	0.21%
93	FRANCO NEV CORP	FNV	1,200	$267,492	0.20%
94	INSPIRE MED SYS INC	457730109	3,500	$259,700	0.20%
95	ISHARES TR	464287234	4,700	$250,980	0.19%
96	PARAMOUNT SKYDANCE CORP	PSKY	13,090	$247,662	0.19%
97	VANGUARD TAX-MANAGED FDS	921943858	4,000	$239,680	0.18%
98	CORTEVA INC	CTVA	3,500	$236,705	0.18%
99	CONOCOPHILLIPS	COP	2,400	$227,016	0.17%
100	ALIBABA GROUP HLDG LTD	BBAAY	1,175	$210,008	0.16%
101	DELTA AIR LINES INC DEL	DAL	3,700	$209,975	0.16%
102	TELEFONAKTIEBOLAGET LM ERICS	294821608	18,000	$148,860	0.11%