SEC 13F Intelligence

Managers / Q1 2026 · view latest →

Systrade AG

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

Reported Value
$149M
Q1 2026
Positions
11
Filings on Record
15
2019–present window
Filed
Apr 8, 2026
original filing

Summary

Systrade AG reported $149M in U.S.-listed holdings across 11 positions for Q1 2026.

The portfolio is heavily concentrated: AMR alone accounts for 38.6% of reported value.

Compared with Q4 2025, the fund opened 0 new positions and exited 4.

Portfolio Metrics

Turnover
+2.2%
vs prior filed quarter
Top-10 Concentration
+99.7%
share of reported value
Largest Position
+38.6%
Alpha Metallurgical Resour I

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: 69.0%Other: 16.4%ADR: 14.6%
  • Common Stock · 69.0% · $103M
  • Other · 16.4% · $25M
  • ADR · 14.6% · $22M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
AMZNAMAZON COM INCSOLD OUT−33.9K0−$8M$0
YPF SOCIEDAD ANONIMASOLD OUT−50.0K0−$2M$0
TRANSPORTADORA DE GAS SURSOLD OUT−25.0K0−$777,250$0
BRK/ABERKSHIRE HATHAWAY INC DELSOLD OUT−10−$754,800$0
CD8CRESUD S A C I F Y AHELD+35.0K1.10M+$541,139$14M
UBS GROUP AGHELD+2.3K627.3K−$5M$25M
AMRALPHA METALLURGICAL RESOUR IHELD+0280.0K+$2M$57M
NTRANATERA INCHELD+050.0K−$1M$10M

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

Holdings — Q1 2026

11 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AMRALPHA METALLURGICAL RESOUR Ihistory →COM38.57%$57M280.0K
2IBKRINTERACTIVE BROKERS GROUP INhistory →COM CL A22.51%$34M500.0K
3UBS GROUP AGSHS16.45%$25M627.3K
4CD8CRESUD S A C I F Y Ahistory →SPONSORED ADR9.39%$14M1.10M
5NTRANATERA INChistory →COM6.71%$10M50.0K
6LOMA NEGRA C I A S A MTN 14SPONSORED ADS1.86%$3M250.0K
7GGALGRUPO FINANCIERO GALICIA S.Ahistory →SPONSORED ADR1.41%$2M45.0K
8IRSIRSA INVERSIONES Y REP S Ahistory →SPON GDS ECH 101.30%$2M119.8K
9GPNGLOBAL PMTS INCCOM0.90%$1M20.0K
10BNTXBIONTECH SESPONSORED ADS0.60%$888,80010.0K
11TSLATESLA INCCOM0.30%$449,7201.0K

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 ↗.