SEC 13F Intelligence

Managers / Q3 2025 · view latest →

Systrade AG

CIK 0001818160 · LANDSTRASSE 63, VADUZ, N2, 9490 · 004237923020

Reported Value
$135M
Q3 2025
Positions
12
Filings on Record
15
2019–present window
Filed
Oct 9, 2025
original filing

Summary

Systrade AG reported $135M in U.S.-listed holdings across 12 positions for Q3 2025.

The portfolio is heavily concentrated: B alone accounts for 46.0% of reported value.

Compared with Q2 2025, the fund opened 1 new position and exited 2.

Portfolio Metrics

Turnover
+12.1%
vs prior filed quarter
Top-10 Concentration
+99.3%
share of reported value
Largest Position
+46.0%
Barrick Mng
New / Exited
1 / 2
positions this quarter

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

13F Reported Value
Q4 ’22: $116MQ4 ’22Q1 ’23: $168MQ2 ’23: $82MQ2 ’23Q3 ’23: $116MQ4 ’23: $111MQ4 ’23Q1 ’24: $83MQ2 ’24: $58MQ2 ’24Q3 ’24: $48MQ4 ’24: $59MQ4 ’24Q1 ’25: $72MQ2 ’25: $88MQ2 ’25Q3 ’25: $135MQ4 ’25: $164MQ4 ’25Q1 ’26: $149MQ2 ’26: $160MQ2 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 72.0%Other: 20.3%ADR: 7.8%
  • Common Stock · 72.0% · $97M
  • Other · 20.3% · $27M
  • ADR · 7.8% · $11M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
IBKRINTERACTIVE BROKERS GROUP INNEW+500.0K500.0K+$34M$34M
AMZNAMAZON COM INCSOLD OUT−30.5K0−$7M$0
NEMNEWMONT CORPSOLD OUT−101.0K0−$6M$0
LOMA NEGRA C I A S A MTN 14ADDED+165.2K382.9K+$434,139$3M
GGALGRUPO FINANCIERO GALICIA S.AADDED+9.8K25.0K−$75,265$689,000
CD8CRESUD S A C I F Y AADDED+86.6K366.7K+$359,720$3M
BBARRICK MNG CORPHELD−100.0K1.90M+$21M$62M
UBS GROUP AGHELD+0625.0K+$5M$26M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2025

12 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BBARRICK MNG CORPhistory →COM SHS45.98%$62M1.90M
2IBKRINTERACTIVE BROKERS GROUP INhistory →COM CL A25.41%$34M500.0K
3UBS GROUP AGSHS18.84%$26M625.0K
4CD8CRESUD S A C I F Y Ahistory →SPONSORED ADR2.49%$3M366.7K
5LOMA NEGRA C I A S A MTN 14SPONSORED ADS2.08%$3M382.9K
6VALARIS LTDCL A1.44%$2M40.0K
7IRSIRSA INVERSIONES Y REP S ASPON GDS ECH 100.96%$1M110.0K
8YPF SOCIEDAD ANONIMASPON ADR CL D0.81%$1M45.0K
9BNTXBIONTECH SESPONSORED ADS0.73%$986,20010.0K
10BRK/BBERKSHIRE HATHAWAY INC DELCL B NEW0.56%$754,2001
11GGALGRUPO FINANCIERO GALICIA S.ASPONSORED ADR0.51%$689,00025.0K
12BFPBANCO BBVA ARGENTINA S ASPONSORED ADS0.18%$249,60030.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q2 2026$160M14Jul 7, 202613F-HRchanges · EDGAR ↗
Q1 2026$149M11Apr 8, 202613F-HRchanges · EDGAR ↗
Q4 2025$164M15Jan 12, 202613F-HRchanges · EDGAR ↗
Q3 2025$135M12Oct 9, 202513F-HRchanges · EDGAR ↗
Q2 2025$88M13Jul 9, 202513F-HRchanges · EDGAR ↗
Q1 2025$72M13Apr 10, 202513F-HRchanges · EDGAR ↗
Q4 2024$59M13Jan 16, 202513F-HRchanges · EDGAR ↗
Q3 2024$48M7Oct 9, 202413F-HRchanges · EDGAR ↗
Q2 2024$58M5Jul 12, 202413F-HRchanges · EDGAR ↗
Q1 2024$83M4Apr 16, 202413F-HRchanges · EDGAR ↗
Q4 2023$111M6Jan 10, 202413F-HRchanges · EDGAR ↗
Q3 2023$116M6Oct 5, 202313F-HRchanges · EDGAR ↗
Q2 2023$82M8Jul 24, 202313F-HRchanges · EDGAR ↗
Q1 2023$168M10Apr 11, 202313F-HRchanges · EDGAR ↗
Q4 2022$116M9Jan 27, 202313F-HRchanges · 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 ↗.