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Portfolio (Quarterly) Guide ↗

Hedges Asset Management LLC

· CIK 0001906202
13F Portfolio $142M AUM 108 positions Filed Jan 27, 2026 EDGAR ↗ ← All Funds
Q4 2025 Q3 2025 · All 11 New 20 Added 33 Reduced 5 Exited
Page 1 of 6  ·  108 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
1 GBCI GLACIER BANCORP INC NEW Financial Services 295,223.0 $13.0M 9.17% +5K +1.7% $44.05 +5.4%
2 GE GE AEROSPACE Industrials 21,700.0 $6.7M 4.71% -1K -5.5% $308.03 -7.5%
3 BA BOEING CO Industrials 25,600.0 $5.6M 3.92% +950.0 +3.9% $217.12 +0.4%
4 SHEL SHELL PLC Energy 56,100.0 $4.1M 2.91% $73.48 +20.3%
5 LUV SOUTHWEST AIRLS CO Industrials 90,100.0 $3.7M 2.63% -700.0 -0.8% $41.33 -6.3%
6 GLPI GAMING & LEISURE PPTYS INC Real Estate 78,260.0 $3.5M 2.47% $44.69 +5.5%
7 GDX VANECK ETF TRUST 39,900.0 $3.4M 2.41% $85.77 +1.6%
8 BCS BARCLAYS PLC Financial Services 120,500.0 $3.1M 2.16% NEW $25.45 -9.9%
9 PENN PENN ENTERTAINMENT INC Consumer Cyclical 182,150.0 $2.7M 1.90% +6K +3.4% $14.75 +12.1%
10 BP BP PLC Energy 75,067.0 $2.6M 1.84% $34.73 +31.3%
11 SH PROSHARES TR 69,000.0 $2.5M 1.75% NEW $36.03 -6.6%
12 PAAS PAN AMERN SILVER CORP Basic Materials 44,572.0 $2.3M 1.63% -3K -7.0% $51.81 +6.8%
13 B BARRICK MNG CORP Basic Materials 52,800.0 $2.3M 1.62% -8K -13.4% $43.55 -6.9%
14 WYNN WYNN RESORTS LTD Consumer Cyclical 19,015.0 $2.3M 1.61% -400.0 -2.1% $120.33 -20.6%
15 NEW GOLD INC CDA 257,500.0 $2.2M 1.58% -10K -3.7% $8.71
16 VZ VERIZON COMMUNICATIONS INC Communication Services 54,850.0 $2.2M 1.58% +300.0 +0.6% $40.73 +14.8%
17 PHYS SPROTT ASSET MANAGEMENT LP Financial Services 65,000.0 $2.1M 1.51% $33.02 +4.3%
18 ARCO ARCOS DORADOS HOLDINGS INC Consumer Cyclical 287,900.0 $2.1M 1.49% -11K -3.7% $7.34 +12.1%
19 IMAX IMAX CORP Communication Services 56,500.0 $2.1M 1.47% NEW $36.96 -7.2%
20 PSQ PROSHARES TR 68,300.0 $2.1M 1.46% -4K -5.0% $30.20 -12.2%
Page 1 of 6  ·  108 positions

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Financial Services 21.3%
Industrials 17.9%
Consumer Cyclical 12.8%
Basic Materials 11.3%
Energy 10.2%
Healthcare 7.9%
Technology 6.3%
Communication Services 5.2%
Real Estate 3.9%
Consumer Defensive 3.1%