Managers / Q3 2024 · view latest →
Systrade AG
CIK 0001818160 · LANDSTRASSE 63, VADUZ, N2, 9490 · 004237923020
Summary
Systrade AG reported $48M in U.S.-listed holdings across 7 positions for Q3 2024.
The portfolio is heavily concentrated: ABX alone accounts for 59.1% of reported value.
Compared with Q2 2024, the fund opened 4 new positions and exited 2.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 59.1% · $28M
- Other · 33.4% · $16M
- ADR · 7.5% · $4M
Quarter-over-Quarter Changes full breakdown →
vs Q2 2024 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| ABXBARRICK GOLD CORP | NEW | +1.40M | 1.40M | +$28M | $28M |
| VALARIS LTD | NEW | +20.0K | 20.0K | +$1M | $1M |
| BABAALIBABA GROUP HLDG LTD | NEW | +10.0K | 10.0K | +$1M | $1M |
| IRSIRSA INVERSIONES Y REP S A | NEW | +100.0K | 100.0K | +$986,858 | $986,858 |
| UBS GROUP AG | ADDED | +385.0K | 485.0K | +$12M | $15M |
| AMRALPHA METALLURGICAL RESOUR I | SOLD OUT | −191.9K | 0 | −$54M | $0 |
| SHELSHELL PLC | SOLD OUT | −5.0K | 0 | −$360,900 | $0 |
| BNTXBIONTECH SE | HELD | +0 | 10.0K | +$247,866 | $1M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2024
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | ABXBARRICK GOLD CORPhistory → | COM | 59.05% | $28M | 1.40M |
| 2 | UBS GROUP AG | SHS | 31.08% | $15M | 485.0K |
| 3 | VALARIS LTD | CL A | 2.36% | $1M | 20.0K |
| 4 | BABAALIBABA GROUP HLDG LTDhistory → | SPONSORED ADS | 2.27% | $1M | 10.0K |
| 5 | BNTXBIONTECH SEhistory → | SPONSORED ADS | 2.21% | $1M | 10.0K |
| 6 | IRSIRSA INVERSIONES Y REP S Ahistory → | SPON GDS ECH 10 | 2.07% | $986,858 | 100.0K |
| 7 | YPF SOCIEDAD ANONIMA | SPON ADR CL D | 0.95% | $453,716 | 25.0K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q2 2026 | $160M | 14 | Jul 7, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q1 2026 | $149M | 11 | Apr 8, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $164M | 15 | Jan 12, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $135M | 12 | Oct 9, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $88M | 13 | Jul 9, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $72M | 13 | Apr 10, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $59M | 13 | Jan 16, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $48M | 7 | Oct 9, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $58M | 5 | Jul 12, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $83M | 4 | Apr 16, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $111M | 6 | Jan 10, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $116M | 6 | Oct 5, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $82M | 8 | Jul 24, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $168M | 10 | Apr 11, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $116M | 9 | Jan 27, 2023 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.