# EDGAR Filing Document

**Accession Number:** 0001910874
**File Stem:** 0000919574-26-000937
**Filing Date:** 2026-2
**Character Count:** 9355
**Document Hash:** e0fdbb7281919b2196ba1f850d06d3b9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000919574-26-000937.hdr.sgml**: 20260213

**ACCESSION NUMBER**: 0000919574-26-000937

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260213

**DATE AS OF CHANGE**: 20260213

**EFFECTIVENESS DATE**: 20260213

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Eschler Asset Management LLP
- **CENTRAL INDEX KEY:** 0001910874

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** X0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-21897
- **FILM NUMBER:** 26633159

**BUSINESS ADDRESS:**
- **STREET 1:** 9 ARGYLL STREET
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** W1F 7TG
- **BUSINESS PHONE:** 447775824595

**MAIL ADDRESS:**
- **STREET 1:** 9 ARGYLL STREET
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** W1F 7TG

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Eschler Asset Management LLP<br>**Address:** 9 Argyll Street<br>London, X0 W1F 7TG

**Form 13F File Number:** 028-21897

**CRD Number (if applicable):** 000311807

**SEC File Number (if applicable):** 801-120071

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Theron de Ris<br>**Title:** Member<br>**Phone:** 447775824595

**Signature, Place, and Date of Signing:**

/s/ Theron de Ris  Cambridge, X0  02-13-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 1

**Form 13F Information Table Entry Total:** 57

**Form 13F Information Table Value Total:** $148355838

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

| No.   | Name               | Form 13F File Number   |
|:---|:---|:---|
|  | SR GLOBAL FUND L P | 028-21899              |

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ADVISORSHARES TR | PURE US CANNABIS | 00768Y453 |  | 1400820 | 296784 | SH |  | SOLE |  | 296784 | 0 | 0 |
| ALAMOS GOLD INC NEW | COM CL A | 011532108 |  | 834100 | 21620 | SH |  | SOLE |  | 21620 | 0 | 0 |
| ALAMOS GOLD INC NEW | COM CL A | 011532108 |  | 19290000 | 500000 | SH |  | DFND | 1 | 500000 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 4609722 | 14690 | SH |  | SOLE |  | 14690 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 501639 | 2173 | SH |  | SOLE |  | 2173 | 0 | 0 |
| ARK ETF TR | SPACE  DEFENSE | 00214Q807 |  | 1315199 | 45383 | SH |  | SOLE |  | 45383 | 0 | 0 |
| ATRENEW INC | SPONSORED ADS | 00138L108 |  | 330190 | 62300 | SH |  | SOLE |  | 62300 | 0 | 0 |
| B2GOLD CORP | COM | 11777Q209 |  | 2116349 | 469257 | SH |  | SOLE |  | 469257 | 0 | 0 |
| BLACKROCK INC | COM | 09290D101 |  | 815599 | 762 | SH |  | SOLE |  | 762 | 0 | 0 |
| BOSTON BEER INC | CL A | 100557107 |  | 897598 | 4600 | SH |  | SOLE |  | 4600 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 2231999 | 6449 | SH |  | SOLE |  | 6449 | 0 | 0 |
| BUILDERS FIRSTSOURCE INC | COM | 12008R107 |  | 993917 | 9660 | SH |  | SOLE |  | 9660 | 0 | 0 |
| COEUR MNG INC | COM NEW | 192108504 |  | 2294543 | 128690 | SH |  | SOLE |  | 128690 | 0 | 0 |
| CRONOS GROUP INC | COM | 22717L101 |  | 378715 | 143998 | SH |  | SOLE |  | 143998 | 0 | 0 |
| ENOVA INTL INC | COM | 29357K103 |  | 1385246 | 8812 | SH |  | SOLE |  | 8812 | 0 | 0 |
| FIRST SOLAR INC | COM | 336433107 |  | 419013 | 1604 | SH |  | SOLE |  | 1604 | 0 | 0 |
| FLUTTER ENTMT PLC | SHS | G3643J108 |  | 508140 | 2363 | SH |  | SOLE |  | 2363 | 0 | 0 |
| FUTU HLDGS LTD | SPON ADS CL A | 36118L106 |  | 1806310 | 11000 | SH |  | SOLE |  | 11000 | 0 | 0 |
| GDS HLDGS LTD | SPONSORED ADS | 36165L108 |  | 568870 | 16300 | SH |  | SOLE |  | 16300 | 0 | 0 |
| HARMONY GOLD MINING CO LTD | SPONSORED ADR | 413216300 |  | 1404860 | 70596 | SH |  | SOLE |  | 70596 | 0 | 0 |
| HCA HEALTHCARE INC | COM | 40412C101 |  | 891703 | 1910 | SH |  | SOLE |  | 1910 | 0 | 0 |
| HECLA MNG CO | COM | 422704106 |  | 4797500 | 250000 | SH |  | DFND | 1 | 250000 | 0 | 0 |
| HESAI GROUP | SPONSORED ADS | 428050108 |  | 739200 | 33000 | SH |  | SOLE |  | 33000 | 0 | 0 |
| HUT 8 CORP | COM | 44812J104 |  | 413001 | 8990 | SH |  | SOLE |  | 8990 | 0 | 0 |
| I-80 GOLD CORP | COM | 44955L106 |  | 10950000 | 7500000 | SH |  | DFND | 1 | 7500000 | 0 | 0 |
| IAMGOLD CORP | COM | 450913108 |  | 1396983 | 84717 | SH |  | SOLE |  | 84717 | 0 | 0 |
| IMMUNOCORE HLDGS PLC | ADS | 45258D105 |  | 2776800 | 80000 | SH |  | DFND | 1 | 80000 | 0 | 0 |
| ISHARES INC | MSCI STH AFR ETF | 464286780 |  | 1857600 | 27000 | SH |  | SOLE |  | 27000 | 0 | 0 |
| ISHARES SILVER TR | CALL | 46428Q909 |  | 1230000 | 1000 | SH | Call | SOLE |  | 1000 | 0 | 0 |
| KANZHUN LIMITED | SPONSORED ADS | 48553T106 |  | 3057000 | 150000 | SH |  | DFND | 1 | 150000 | 0 | 0 |
| KASPI KZ JSC | SPONSORED ADS | 48581R205 |  | 1091867 | 13975 | SH |  | SOLE |  | 13975 | 0 | 0 |
| KRATOS DEFENSE  SEC SOLUTIO | COM NEW | 50077B207 |  | 431093 | 5679 | SH |  | SOLE |  | 5679 | 0 | 0 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 733016 | 364 | SH |  | SOLE |  | 364 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 3561846 | 5396 | SH |  | SOLE |  | 5396 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 285410 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| NATURAL RESOURCE PARTNERS L | COM UNIT LTD PAR | 63900P608 |  | 835200 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| NEWMONT CORP | COM | 651639106 |  | 17473750 | 175000 | SH |  | DFND | 1 | 175000 | 0 | 0 |
| NOAH HLDGS LTD | SPON ADS | 65487X102 |  | 246984 | 24600 | SH |  | SOLE |  | 24600 | 0 | 0 |
| NU HLDGS LTD | ORD SHS CL A | G6683N103 |  | 1171800 | 70000 | SH |  | SOLE |  | 70000 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 3344028 | 17930 | SH |  | SOLE |  | 17930 | 0 | 0 |
| PERPETUA RESOURCES CORP | COM | 714266103 |  | 363150 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| PONY AI INC | SPONSORED ADS | 732908108 |  | 503150 | 34700 | SH |  | SOLE |  | 34700 | 0 | 0 |
| ROBLOX CORP | CL A | 771049103 |  | 555056 | 6850 | SH |  | SOLE |  | 6850 | 0 | 0 |
| ROYAL GOLD INC | COM | 780287108 |  | 516824 | 2325 | SH |  | SOLE |  | 2325 | 0 | 0 |
| SEA LTD | SPONSORD ADS | 81141R100 |  | 433738 | 3400 | SH |  | SOLE |  | 3400 | 0 | 0 |
| SEABRIDGE GOLD INC | COM | 811916105 |  | 532620 | 18000 | SH |  | SOLE |  | 18000 | 0 | 0 |
| SIBANYE STILLWATER LTD | SPONSORED ADR | 82575P107 |  | 3355519 | 235475 | SH |  | SOLE |  | 235475 | 0 | 0 |
| SSR MINING IN | COM | 784730103 |  | 2168546 | 98930 | SH |  | SOLE |  | 98930 | 0 | 0 |
| TRANSOCEAN LTD | REGISTERED SHS | H8817H100 |  | 594720 | 144000 | SH |  | SOLE |  | 144000 | 0 | 0 |
| VALARIS LTD | CL A | G9460G101 |  | 720720 | 14300 | SH |  | SOLE |  | 14300 | 0 | 0 |
| VALE S A | SPONSORED ADS | 91912E105 |  | 456050 | 35000 | SH |  | SOLE |  | 35000 | 0 | 0 |
| VANECK ETF TRUST | JUNIOR GOLD MINE | 92189F791 |  | 22756000 | 200000 | SH |  | DFND | 1 | 200000 | 0 | 0 |
| VANGUARD BD INDEX FDS | SHORT TRM BOND | 921937827 |  | 3836628 | 48682 | SH |  | SOLE |  | 48682 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 4736086 | 7552 | SH |  | SOLE |  | 7552 | 0 | 0 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 |  | 4693726 | 62218 | SH |  | SOLE |  | 62218 | 0 | 0 |
| VOX ROYALTY CORP | COM | 92919F103 |  | 304308 | 64200 | SH |  | SOLE |  | 64200 | 0 | 0 |
| WOODWARD INC | COM | 980745103 |  | 441387 | 1460 | SH |  | SOLE |  | 1460 | 0 | 0 |

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