Gemsstock Ltd.
Long book
$948.8M
Q1 2026
Positions
28
Top-10 weight
64%
concentration
Last quarter
-7.1%
SPY +14.8%
Turnover
57%
of book per quarter
Strategy in plain words
auto-generated from filingsGemsstock Ltd. is a concentrated fundamental stock-picker, running a $948.8M US long book across 28 positions.
The portfolio is concentrated: the top 10 names carry 64% of the portfolio. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: EQUINOX GOLD CORP, GULFPORT ENERGY CORP, AMAZON.COM INC, BARRICK MINING CORP, VISTA ENERGY SAB DE CV.
Over the last 9 quarters its long book ran on average 1.6pp per quarter behind the S&P 500, beating the index in 5 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+8.2%
Q2 2024
+3.1%
Q3 2024
-7.5%
Q4 2024
-2.5%
Q1 2025
+1.6%
Q2 2025
+12.8%
Q3 2025
+12.5%
Q4 2025
+4.9%
Q1 2026
-7.1%
Sector allocation
Energy 35%
Materials 33%
Technology 10%
Financials 8%
Consumer discretionary 8%
Other 3%
Services media 3%
Long book by quarter
What does Gemsstock Ltd. own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| EQX EQUINOX GOLD CORP | Materials | 8.3M | $119.8M | 12.6% | +58.7% |
| GPOR GULFPORT ENERGY CORP | Energy | 508.2K | $107.5M | 11.3% | +50.7% |
| AMZN AMAZON.COM INC | Consumer discretionary | 289.3K | $60.3M | 6.4% | +32.0% |
| B BARRICK MINING CORP | Materials | 1.4M | $55.6M | 5.9% | +17.7% |
| EXE EXPAND ENERGY CORP | Energy | 437.9K | $48.1M | 5.1% | +9.3% |
| EQT EQT CORP | Energy | 736.0K | $46.8M | 4.9% | +8.5% |
| AR ANTERO RESOURCES CORP | Energy | 992.4K | $42.1M | 4.4% | +4.5% |
| NEM NEWMONT CORP | Materials | 373.3K | $40.4M | 4.3% | +20.3% |
| GOOG ALPHABET INC-CL C | Technology | 131.0K | $37.6M | 4.0% | New |
| UBS UBS GROUP AG-REG | Financials | 630.7K | $24.2M | 2.6% | New |
| TECK TECK RESOURCES LTD-CLS B | Materials | 416.7K | $21.6M | 2.3% | +51.9% |
| DBK DEUTSCHE BANK AG-REGISTERED | — | 711.8K | $20.7M | 2.2% | New |
| NVDA NVIDIA CORP | Technology | 110.0K | $19.2M | 2.0% | New |
| CRM SALESFORCE INC | Technology | 100.5K | $18.8M | 2.0% | New |
| NU NU HOLDINGS LTD/CAYMAN ISL-A | Financials | 1.3M | $18.7M | 2.0% | New |
| MELI MERCADOLIBRE INC | Services media | 10.8K | $18.7M | 2.0% | +27.4% |
| JPM JPMORGAN CHASE & CO | Financials | 63.4K | $18.6M | 2.0% | +16.5% |
| CRK COMSTOCK RESOURCES INC | Energy | 813.9K | $17.2M | 1.8% | -1.7% |
| EGO ELDORADO GOLD CORP | Materials | 315.1K | $10.8M | 1.1% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 14, 2026 | 28 | $948.8M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 22 | $793.4M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 12, 2025 | 15 | $486.1M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 17 | $560.9M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 13, 2025 | 18 | $265.4M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 13, 2025 | 16 | $483.2M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 8, 2024 | 9 | $206.8M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 6, 2024 | 13 | $313.7M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 8, 2024 | 13 | $265.0M | canonical | SEC ↗ |
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