Kercheville Advisors, LLC

Q3 2025 13F-HR Holdings

Location
San Antonio, TX
Holdings as of
9/30/2025
Date filed
10/22/2025
Form type
13F-HR
Num holdings
106
Total value ($000)
$330,972
Net value change ($000)
+41,253 (14.2%)
New positions
17
Sold out positions
16
Turnover %
6.2%
Sector allocation + QoQ delta (equities-only)
Prev filing: 7/22/2025 Next filing: 1/29/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
NVDA 8,284 64.4%
AEM 5,024 37.9%
SOFI 3,986 134.8%
GOOGL 3,715 35.8%
AAPL 3,386 23.0%
CELH 3,378 35.8%
GDX 3,361 35.6%
GDXJ 3,157 42.7%
BE 2,554 NEW
GEV 2,249 293.2%
Top Reduces (Value $000, Stocks/ETFs)
LLY -5,160 -78.0%
MU -2,132 -100.0%
HESM -2,081 -27.9%
CRDO -1,488 -100.0%
AHC -1,397 -100.0%
NFLX -1,186 -9.1%
CRWD -1,110 -68.3%
AVGO -1,021 -60.7%
HMY -955 -100.0%
COST -840 -6.8%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type