Q4 2025 · 13F-HR
Eschler Asset Management LLPholdings as filed
Filed 2026-02-13 · accession 0000919574-26-000937
$148.4M
Reported value
56
Positions
2025-12-31
Period end
The Brief · Eschler Asset Management LLP · Q4 2025
AI · grounded in 13F
Eschler Asset Management LLP closed its position in NGDN, reducing exposure by $11.29M. The fund also exited positions in AU and AEM, totaling $7.03M and $4.21M respectively. To offset these sells, the fund established new positions in HL for $4.80M and VOO for $4.74M. Additionally, the fund increased its holdings in GDXJ by 258.5% and AGI by 135.4%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 92189F791 | GDXJ | VANECK ETF TRUST | $22.8M | 15.3% | 200,000 | Common | SOLE |
| 011532108 | AGI | ALAMOS GOLD INC NEW | $20.1M | 13.6% | 521,620 | Common | SOLE |
| 651639106 | NEM | NEWMONT CORP | $17.5M | 11.8% | 175,000 | Common | SOLE |
| 44955L106 | IAUX | I-80 GOLD CORP | $10.9M | 7.38% | 7,500,000 | Common | SOLE |
| 422704106 | HL | HECLA MNG CO | $4.8M | 3.23% | 250,000 | Common | SOLE |
| 922908363 | VOO | VANGUARD INDEX FDS | $4.7M | 3.19% | 7,552 | Common | SOLE |
| 921909768 | VXUS | VANGUARD STAR FDS | $4.7M | 3.16% | 62,218 | Common | SOLE |
| 02079K107 | GOOG | ALPHABET INC | $4.6M | 3.11% | 14,690 | Common | SOLE |
| 921937827 | BSV | VANGUARD BD INDEX FDS | $3.8M | 2.59% | 48,682 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $3.6M | 2.40% | 5,396 | Common | SOLE |
| 82575P107 | SBSW | SIBANYE STILLWATER LTD | $3.4M | 2.26% | 235,475 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $3.3M | 2.25% | 17,930 | Common | SOLE |
| 48553T106 | BZ | KANZHUN LIMITED | $3.1M | 2.06% | 150,000 | Common | SOLE |
| 45258D105 | IMCR | IMMUNOCORE HLDGS PLC | $2.8M | 1.87% | 80,000 | Common | SOLE |
| 192108504 | CDE | COEUR MNG INC | $2.3M | 1.55% | 128,690 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM INC | $2.2M | 1.50% | 6,449 | Common | SOLE |
| 784730103 | SSRM | SSR MINING IN | $2.2M | 1.46% | 98,930 | Common | SOLE |
| 11777Q209 | BTG | B2GOLD CORP | $2.1M | 1.43% | 469,257 | Common | SOLE |
| 464286780 | EZA | ISHARES INC | $1.9M | 1.25% | 27,000 | Common | SOLE |
| 36118L106 | FUTU | FUTU HLDGS LTD | $1.8M | 1.22% | 11,000 | Common | SOLE |
| 413216300 | HMY | HARMONY GOLD MINING CO LTD | $1.4M | 0.95% | 70,596 | Common | SOLE |
| 00768Y453 | MSOS | ADVISORSHARES TR | $1.4M | 0.94% | 296,784 | Common | SOLE |
| 450913108 | IAG | IAMGOLD CORP | $1.4M | 0.94% | 84,717 | Common | SOLE |
| 29357K103 | ENVA | ENOVA INTL INC | $1.4M | 0.93% | 8,812 | Common | SOLE |
| 00214Q807 | ARKX | ARK ETF TR | $1.3M | 0.89% | 45,383 | Common | SOLE |
| 46428Q909 | SLV | ISHARES SILVER TR | $1.2M | 0.83% | 1,000 | CALL | SOLE |
| G6683N103 | NU | NU HLDGS LTD | $1.2M | 0.79% | 70,000 | Common | SOLE |
| 48581R205 | KSPI | KASPI KZ JSC | $1.1M | 0.74% | 13,975 | Common | SOLE |
| 12008R107 | BLDR | BUILDERS FIRSTSOURCE INC | $993,917 | 0.67% | 9,660 | Common | SOLE |
| 100557107 | SAM | BOSTON BEER INC | $897,598 | 0.61% | 4,600 | Common | SOLE |
| 40412C101 | HCA | HCA HEALTHCARE INC | $891,703 | 0.60% | 1,910 | Common | SOLE |
| 63900P608 | NRP | NATURAL RESOURCE PARTNERS L | $835,200 | 0.56% | 8,000 | Common | SOLE |
| 09290D101 | BLK | BLACKROCK INC | $815,599 | 0.55% | 762 | Common | SOLE |
| 428050108 | HSAI | HESAI GROUP | $739,200 | 0.50% | 33,000 | Common | SOLE |
| 58733R102 | MELI | MERCADOLIBRE INC | $733,016 | 0.49% | 364 | Common | SOLE |
| G9460G101 | VAL | VALARIS LTD | $720,720 | 0.49% | 14,300 | Common | SOLE |
| H8817H100 | RIG | TRANSOCEAN LTD | $594,720 | 0.40% | 144,000 | Common | SOLE |
| 36165L108 | GDS | GDS HLDGS LTD | $568,870 | 0.38% | 16,300 | Common | SOLE |
| 771049103 | RBLX | ROBLOX CORP | $555,056 | 0.37% | 6,850 | Common | SOLE |
| 811916105 | SA | SEABRIDGE GOLD INC | $532,620 | 0.36% | 18,000 | Common | SOLE |
| 780287108 | RGLD | ROYAL GOLD INC | $516,824 | 0.35% | 2,325 | Common | SOLE |
| G3643J108 | FLUT | FLUTTER ENTMT PLC | $508,140 | 0.34% | 2,363 | Common | SOLE |
| 732908108 | PONY | PONY AI INC | $503,150 | 0.34% | 34,700 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $501,639 | 0.34% | 2,173 | Common | SOLE |
| 91912E105 | VALE | VALE S A | $456,050 | 0.31% | 35,000 | Common | SOLE |
| 980745103 | WWD | WOODWARD INC | $441,387 | 0.30% | 1,460 | Common | SOLE |
| 81141R100 | SE | SEA LTD | $433,738 | 0.29% | 3,400 | Common | SOLE |
| 50077B207 | KTOS | KRATOS DEFENSE & SEC SOLUTIO | $431,093 | 0.29% | 5,679 | Common | SOLE |
| 336433107 | FSLR | FIRST SOLAR INC | $419,013 | 0.28% | 1,604 | Common | SOLE |
| 44812J104 | HUT | HUT 8 CORP | $413,001 | 0.28% | 8,990 | Common | SOLE |
| 22717L101 | CRON | CRONOS GROUP INC | $378,715 | 0.26% | 143,998 | Common | SOLE |
| 714266103 | PPTA | PERPETUA RESOURCES CORP | $363,150 | 0.24% | 15,000 | Common | SOLE |
| 00138L108 | RERE | ATRENEW INC | $330,190 | 0.22% | 62,300 | Common | SOLE |
| 92919F103 | VOXR | VOX ROYALTY CORP | $304,308 | 0.21% | 64,200 | Common | SOLE |
| 595112103 | MU | MICRON TECHNOLOGY INC | $285,410 | 0.19% | 1,000 | Common | SOLE |
| 65487X102 | NOAH | NOAH HLDGS LTD | $246,984 | 0.17% | 24,600 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.