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BCM

Barometer Capital Management Portfolio holdings

AUM $292M
1-Year Est. Return 86.78%
This Fund
S&P 500
This Quarter Est. Return
+8.98%
1 Year Est. Return
+86.78%
3 Year Est. Return
+311.02%
5 Year Est. Return
+812.4%
10 Year Est. Return
+9,004.92%
AUM
$415M
AUM Growth
-$22.1M
Cap. Flow
+$1.15B
Cap. Flow %
276.91%
Top 10 Hldgs %
35.78%
Holding
173
New
–
Increased
74
Reduced
57
Closed
42

Top Buys

Rank Stock Value
1
ASML icon
ASML
ASML
+$527M
2
ITA icon
iShares US Aerospace & Defense ETF
ITA
+$328M
3
MSFT icon
Microsoft
MSFT
+$57.7M
4
SAP icon
SAP
SAP
+$46.4M
5
META icon
Meta Platforms (Facebook)
META
+$42.7M

Top Sells

Rank Stock Value
1
SAN icon
Banco Santander
SAN
+$17M
2
WPM icon
Wheaton Precious Metals
WPM
+$13.1M
3
HBM icon
Hudbay
HBM
+$10.7M
4
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$10.4M
5
AGI icon
Alamos Gold
AGI
+$10.3M

Sector Composition

Rank Sector Weight
1 Financials 19.39%
2 Materials 16.84%
3 Technology 11.72%
4 Industrials 7.03%
5 Communication Services 4.3%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AXON
126
Axon Enterprise
AXON
$48.2B
$280K 0.07%
21,905
+19,073
+673% +$11.8M
FJP icon
127
First Trust Japan AlphaDEX Fund
FJP
$259M
$275K 0.07%
3,400
-1,100
-24% -$73.4K
EZA icon
128
iShares MSCI South Africa ETF
EZA
$563M
$244K 0.06%
3,300
-1,700
-34% -$113K
XLI icon
129
State Street Industrial Select Sector SPDR ETF
XLI
$33.9B
$227K 0.05%
3,500
+2,700
+338% +$415K
PAM icon
130
Pampa Energía
PAM
$4.57B
$162K 0.04%
3,800
-6,700
-64% -$540K
IEV icon
131
iShares Europe ETF
IEV
$1.69B
$140K 0.03%
1,400
-2,200
-61% -$147K
AFK icon
132
VanEck Africa Index ETF
AFK
$99.8M
– –
-5,700
Closed -$139K
COPJ icon
133
Sprott Junior Copper Miners ETF
COPJ
$153M
– –
-13,200
Closed -$420K
GDXJ icon
134
VanEck Junior Gold Miners ETF
GDXJ
$7.36B
– –
-3,900
Closed -$386K
KCE icon
135
State Street SPDR S&P Capital Markets ETF
KCE
$472M
– –
-1,000
Closed -$153K
NLR icon
136
VanEck Uranium + Nuclear Energy ETF
NLR
$4.07B
– –
-2,300
Closed -$312K
PHYS icon
137
Sprott Physical Gold
PHYS
$14.8B
– –
-36,200
Closed -$1.24M
PSLV icon
138
Sprott Physical Silver Trust
PSLV
$12.4B
– –
-37,000
Closed -$581K
REMX icon
139
VanEck Rare Earth/Strategic Metals ETF
REMX
$2.07B
– –
-2,300
Closed -$151K
SGDM icon
140
Sprott Gold Miners ETF
SGDM
$576M
– –
-7,500
Closed -$465K
SMFG icon
141
Sumitomo Mitsui Financial
SMFG
$158B
– –
-60,054
Closed -$1.01M
SPY icon
142
State Street SPDR S&P 500 ETF Trust
SPY
$821B
– –
-525
Closed -$350K
SQM icon
143
Sociedad Química y Minera de Chile
SQM
$19.5B
– –
-16,600
Closed -$713K
STN icon
144
Stantec
STN
$8.2B
– –
-46,990
Closed -$7.05M
SU icon
145
Suncor Energy
SU
$76.2B
– –
-159,140
Closed -$9.27M
TCOM icon
146
Trip.com Group
TCOM
$29.6B
– –
-3,527
Closed -$265K
TIMB icon
147
TIM SA
TIMB
$8.79B
– –
-6,634
Closed -$147K
TKC icon
148
Turkcell
TKC
$4.89B
– –
-24,916
Closed -$150K
TLK icon
149
Telkom Indonesia
TLK
$15B
– –
-223,200
Closed -$4.2M
TME icon
150
Tencent Music
TME
$15.6B
– –
-52,700
Closed -$1.23M
3 4 5
6
7

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FPM
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CW
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LFC
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DIGDR
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NC
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FI
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Barometer Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Barometer Capital Management held 173 positions worth $415M, down 5% from $437M the previous quarter. Its ten largest holdings account for 36% of the portfolio.

Barometer Capital Management deployed $1.15B of net new capital in Q4 2025, adding to 74 existing holdings.

By sector, the portfolio is most concentrated in Financials at 19% of assets, up from 19% a quarter earlier, followed by Materials and Technology.

On the sell side, the largest reduction was Banco Santander, an estimated $17M trimmed.

  • Barometer Capital Management added most to ASML in Q4 2025, an estimated $527M increase.
  • Barometer Capital Management's biggest Q4 2025 reduction was Banco Santander, cutting an estimated $17M.
  • Barometer Capital Management fully exited Wheaton Precious Metals in Q4 2025, selling an estimated $13.1M.
  • Barometer Capital Management's ten largest holdings make up 36% of its $415M portfolio in Q4 2025.
  • Barometer Capital Management opened 0 new positions and closed 42 in Q4 2025.
  • Barometer Capital Management's portfolio value fell 5% quarter-over-quarter to $415M.

Based on Barometer Capital Management's 13F filing for Q4 2025, filed 12 Feb 2026.