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Disclosery

Systrade AG

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13F filer, CIK 1818160, VADUZ, Liechtenstein

Systrade AG reported $163,927,940 across 15 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-01-12. Its ten largest share positions make up 97.27% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001818160-26-000001

Period
2025-12-31
Reported value
$164M
Holdings
15
Top 10 weight
97.27%
New
7
Sold out
4

Largest buys vs the previous quarter

SecurityShares changeApprox. value
AMRnew+280,000$56M
NTRAnew+50,000$11.5M
CRESYadded+698,341$8.82M
AMZNnew+33,900$7.82M
GPNnew+20,000$1.55M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
Bexited-1,900,000-$62.3M
VALexited-40,000-$1.95M
LOMAreduced-132,944-$1.72M
BRK-Bexited-1-$754K
BBARexited-30,000-$250K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001818160-26-000001, largest first. % of portfolio is the value over $163,927,940, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
AMRALPHA METALLURGICAL RESOUR IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 280,000 shares 280,000$56M34.14%newTimeline
IBKRINTERACTIVE BROKERS GROUP INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 500,000 shares; 2025Q4: 500,000 shares 500,000$32.2M19.62%0Timeline
UBSUBS GROUP AGQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 495,000 shares; 2025Q1: 595,000 shares; 2025Q2: 625,000 shares; 2025Q3: 625,000 shares; 2025Q4: 625,000 shares 625,000$29.1M17.78%0Timeline
CRESYCRESUD S A C I F Y AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 146,281 shares; 2025Q1: 174,912 shares; 2025Q2: 280,063 shares; 2025Q3: 366,652 shares; 2025Q4: 1,064,993 shares 1,064,993$13.5M8.21%+698,341Timeline
NTRANATERA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 50,000 shares 50,000$11.5M6.99%newTimeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 30,484 shares; 2025Q3: not reported; 2025Q4: 33,900 shares 33,900$7.82M4.77%newTimeline
LOMALOMA NEGRA C I A S A MTN 14Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 12,000 shares; 2025Q1: 12,000 shares; 2025Q2: 217,699 shares; 2025Q3: 382,944 shares; 2025Q4: 250,000 shares 250,000$3.24M1.97%-132,944Timeline
GGALGRUPO FINANCIERO GALICIA S.AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 15,000 shares; 2025Q1: 10,167 shares; 2025Q2: 15,167 shares; 2025Q3: 25,000 shares; 2025Q4: 45,000 shares 45,000$2.43M1.48%+20,000Timeline
IRSIRSA INVERSIONES Y REP S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 103,601 shares; 2025Q1: 103,601 shares; 2025Q2: 110,000 shares; 2025Q3: 110,000 shares; 2025Q4: 119,780 shares 119,780$1.98M1.21%+9,780Timeline
YPFYPF SOCIEDAD ANONIMAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 45,000 shares; 2025Q1: 45,000 shares; 2025Q2: 45,000 shares; 2025Q3: 45,000 shares; 2025Q4: 50,000 shares 50,000$1.81M1.1%+5,000Timeline
GPNGLOBAL PMTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 20,000 shares 20,000$1.55M0.94%newTimeline
BNTXBIONTECH SEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 10,000 shares; 2025Q1: 10,000 shares; 2025Q2: 10,000 shares; 2025Q3: 10,000 shares; 2025Q4: 10,000 shares 10,000$952K0.58%0Timeline
TGSTRANSPORTADORA DE GAS DEL SUQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 25,000 shares 25,000$777K0.47%newTimeline
BRK-ABERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1 shares 1$755K0.46%newTimeline
TSLATESLA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,000 shares 1,000$450K0.27%newTimeline

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
BBARRICK MNG CORP1,900,000$62.3Mshares
VALVALARIS LTD40,000$1.95Mshares
BRK-BBERKSHIRE HATHAWAY INC DEL1$754Kshares
BBARBANCO BBVA ARGENTINA S A30,000$250Kshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001818160-26-000001 base2026-01-12acceptance time not in the bulk data set