# EDGAR Filing Document

**Accession Number:** 0001696494
**File Stem:** 0001725547-25-004091
**Filing Date:** 2025-10
**Character Count:** 10703
**Document Hash:** e34ba65eb6fefcd3a754ae454656e761
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001725547-25-004091.hdr.sgml**: 20251007

**ACCESSION NUMBER**: 0001725547-25-004091

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251007

**DATE AS OF CHANGE**: 20251007

**EFFECTIVENESS DATE**: 20251007

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Sicart Associates LLC
- **CENTRAL INDEX KEY:** 0001696494

**ORGANIZATION NAME:**
- **EIN:** 813444857

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-17641
- **FILM NUMBER:** 251378488

**BUSINESS ADDRESS:**
- **STREET 1:** 145 E 57TH STREET
- **STREET 2:** 5TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 646-606-0290

**MAIL ADDRESS:**
- **STREET 1:** 145 E 57TH STREET
- **STREET 2:** 5TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**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:** Sicart Associates LLC<br>**Address:** 145 E 57TH STREET<br>5TH FLOOR<br>NEW YORK, NY 10022

**Form 13F File Number:** 028-17641

**CRD Number (if applicable):** 000285275

**SEC File Number (if applicable):** 801-108418

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:** Yibo (Allen) Huang<br>**Title:** Chief Compliance Officer<br>**Phone:** 646-606-0290

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

Yibo Huang  New York, NY  10-07-2025<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:** 0

**Form 13F Information Table Entry Total:** 73

**Form 13F Information Table Value Total:** $369094276

      (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.]

**NONE**

### 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 |
| 3M CO | COM | 88579Y101 |  | 234796 | 1513 | SH |  | SOLE | 0 | 0 | 0 | 1513 |
| ADOBE INC | COM | 00724F101 |  | 8052930 | 22829 | SH |  | SOLE | 0 | 0 | 0 | 22829 |
| AFLAC INC | COM | 001055102 |  | 234347 | 2098 | SH |  | SOLE | 0 | 0 | 0 | 2098 |
| AIRBNB INC | COM CL A | 009066101 |  | 11396117 | 93857 | SH |  | SOLE | 0 | 0 | 0 | 93857 |
| ALBEMARLE CORP | COM | 012653101 |  | 4079297 | 50312 | SH |  | SOLE | 0 | 0 | 0 | 50312 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 12844189 | 52835 | SH |  | SOLE | 0 | 0 | 0 | 52835 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 253292 | 1040 | SH |  | SOLE | 0 | 0 | 0 | 1040 |
| AMAZON COM INC | COM | 023135106 |  | 611942 | 2787 | SH |  | SOLE | 0 | 0 | 0 | 2787 |
| APPLE INC | COM | 037833100 |  | 4166765 | 16364 | SH |  | SOLE | 0 | 0 | 0 | 16364 |
| AT INC | COM | 00206R102 |  | 3245962 | 114942 | SH |  | SOLE | 0 | 0 | 0 | 114942 |
| B2GOLD CORP | COM | 11777Q209 |  | 98907 | 20000 | SH |  | SOLE | 0 | 0 | 0 | 20000 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 544800 | 5000 | SH |  | SOLE | 0 | 0 | 0 | 5000 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 1181439 | 2350 | SH |  | SOLE | 0 | 0 | 0 | 2350 |
| BLOCK INC | CL A | 852234103 |  | 7872877 | 108937 | SH |  | SOLE | 0 | 0 | 0 | 108937 |
| BOEING CO | COM | 097023105 |  | 245830 | 1139 | SH |  | SOLE | 0 | 0 | 0 | 1139 |
| BUNGE GLOBAL SA | COM SHS | H11356104 |  | 6309875 | 77660 | SH |  | SOLE | 0 | 0 | 0 | 77660 |
| CG ONCOLOGY INC | COM | 156944100 |  | 1007000 | 25000 | SH |  | SOLE | 0 | 0 | 0 | 25000 |
| CHUBB LIMITED | COM | H1467J104 |  | 296363 | 1050 | SH |  | SOLE | 0 | 0 | 0 | 1050 |
| CLOROX CO DEL | COM | 189054109 |  | 2755139 | 22345 | SH |  | SOLE | 0 | 0 | 0 | 22345 |
| COCA COLA CO | COM | 191216100 |  | 3090645 | 46602 | SH |  | SOLE | 0 | 0 | 0 | 46602 |
| CORNING INC | COM | 219350105 |  | 3191213 | 38903 | SH |  | SOLE | 0 | 0 | 0 | 38903 |
| DISNEY WALT CO | COM | 254687106 |  | 6049731 | 52836 | SH |  | SOLE | 0 | 0 | 0 | 52836 |
| FEDEX CORP | COM | 31428X106 |  | 4681772 | 19854 | SH |  | SOLE | 0 | 0 | 0 | 19854 |
| FORTUNA MNG CORP | COM NEW | 349942102 |  | 5700675 | 636236 | SH |  | SOLE | 0 | 0 | 0 | 636236 |
| GENERAL MLS INC | COM | 370334104 |  | 350831 | 6958 | SH |  | SOLE | 0 | 0 | 0 | 6958 |
| GUARDANT HEALTH INC | COM | 40131M109 |  | 14375586 | 230083 | SH |  | SOLE | 0 | 0 | 0 | 230083 |
| HONEYWELL INTL INC | COM | 438516106 |  | 359113 | 1706 | SH |  | SOLE | 0 | 0 | 0 | 1706 |
| ILLUMINA INC | COM | 452327109 |  | 7894191 | 83123 | SH |  | SOLE | 0 | 0 | 0 | 83123 |
| IONIS PHARMACEUTICALS INC | COM | 462222100 |  | 10749684 | 164318 | SH |  | SOLE | 0 | 0 | 0 | 164318 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 1279320 | 30194 | SH |  | SOLE | 0 | 0 | 0 | 30194 |
| ISHARES TR | 7-10 YR TRSY BD | 464287440 |  | 11264502 | 116779 | SH |  | SOLE | 0 | 0 | 0 | 116779 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 268128 | 1317 | SH |  | SOLE | 0 | 0 | 0 | 1317 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 |  | 202082 | 2489 | SH |  | SOLE | 0 | 0 | 0 | 2489 |
| ISHARES TR | SHORT TREAS BD | 464288679 |  | 569024 | 5150 | SH |  | SOLE | 0 | 0 | 0 | 5150 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 14207953 | 158979 | SH |  | SOLE | 0 | 0 | 0 | 158979 |
| ISHARES TR | CORE S ETF | 464287200 |  | 291815 | 436 | SH |  | SOLE | 0 | 0 | 0 | 436 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 419049 | 2260 | SH |  | SOLE | 0 | 0 | 0 | 2260 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 369684 | 1172 | SH |  | SOLE | 0 | 0 | 0 | 1172 |
| KINROSS GOLD CORP | COM | 496902404 |  | 248500 | 10000 | SH |  | SOLE | 0 | 0 | 0 | 10000 |
| KRAFT HEINZ CO | COM | 500754106 |  | 5993497 | 230165 | SH |  | SOLE | 0 | 0 | 0 | 230165 |
| LOWES COS INC | COM | 548661107 |  | 1178425 | 4689 | SH |  | SOLE | 0 | 0 | 0 | 4689 |
| MCDONALDS CORP | COM | 580135101 |  | 957254 | 3150 | SH |  | SOLE | 0 | 0 | 0 | 3150 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 6926519 | 72727 | SH |  | SOLE | 0 | 0 | 0 | 72727 |
| META PLATFORMS INC | CL A | 30303M102 |  | 10707260 | 14580 | SH |  | SOLE | 0 | 0 | 0 | 14580 |
| MICROSOFT CORP | COM | 594918104 |  | 581140 | 1122 | SH |  | SOLE | 0 | 0 | 0 | 1122 |
| MOSAIC CO NEW | COM | 61945C103 |  | 3804743 | 109710 | SH |  | SOLE | 0 | 0 | 0 | 109710 |
| MP MATERIALS CORP | COM CL A | 553368101 |  | 12564022 | 187327 | SH |  | SOLE | 0 | 0 | 0 | 187327 |
| NETFLIX INC | COM | 64110L106 |  | 20183818 | 16835 | SH |  | SOLE | 0 | 0 | 0 | 16835 |
| NIKE INC | CL B | 654106103 |  | 3452123 | 49507 | SH |  | SOLE | 0 | 0 | 0 | 49507 |
| NUTRIEN LTD | COM | 67077M108 |  | 4753928 | 80921 | SH |  | SOLE | 0 | 0 | 0 | 80921 |
| PDD HOLDINGS INC | SPONSORED ADS | 722304102 |  | 1414219 | 10700 | SH |  | SOLE | 0 | 0 | 0 | 10700 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 663171 | 4316 | SH |  | SOLE | 0 | 0 | 0 | 4316 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 3925207 | 6981 | SH |  | SOLE | 0 | 0 | 0 | 6981 |
| RTX CORPORATION | COM | 75513E101 |  | 255848 | 1529 | SH |  | SOLE | 0 | 0 | 0 | 1529 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 6548413 | 190527 | SH |  | SOLE | 0 | 0 | 0 | 190527 |
| SNOWFLAKE INC | CL A | 833445109 |  | 226903 | 1006 | SH |  | SOLE | 0 | 0 | 0 | 1006 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 31930093 | 89825 | SH |  | SOLE | 0 | 0 | 0 | 89825 |
| SPDR SERIES TRUST | BLOOMBERG 1-3 MO | 78468R663 |  | 39606824 | 431682 | SH |  | SOLE | 0 | 0 | 0 | 431682 |
| SPROTT PHYSICAL SILVER TR | TR UNIT | 85207K107 |  | 1532901 | 97637 | SH |  | SOLE | 0 | 0 | 0 | 97637 |
| STARBUCKS CORP | COM | 855244109 |  | 1671104 | 19753 | SH |  | SOLE | 0 | 0 | 0 | 19753 |
| SYSCO CORP | COM | 871829107 |  | 9111353 | 110655 | SH |  | SOLE | 0 | 0 | 0 | 110655 |
| TARGA RES CORP | COM | 87612G101 |  | 8912458 | 53196 | SH |  | SOLE | 0 | 0 | 0 | 53196 |
| TESLA INC | COM | 88160R101 |  | 19335091 | 43477 | SH |  | SOLE | 0 | 0 | 0 | 43477 |
| THE CAMPBELLS COMPANY | COM | 134429109 |  | 1800060 | 57000 | SH |  | SOLE | 0 | 0 | 0 | 57000 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 203834 | 1093 | SH |  | SOLE | 0 | 0 | 0 | 1093 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 254750 | 416 | SH |  | SOLE | 0 | 0 | 0 | 416 |
| VANGUARD INDEX FDS | MCAP GR IDXVIP | 922908538 |  | 283507 | 965 | SH |  | SOLE | 0 | 0 | 0 | 965 |
| VANGUARD INTL EQUITY INDEX F | FTSE EUROPE ETF | 922042874 |  | 217831 | 2730 | SH |  | SOLE | 0 | 0 | 0 | 2730 |
| VANGUARD SCOTTSDALE FDS | VNG RUS1000GRW | 92206C680 |  | 278717 | 2313 | SH |  | SOLE | 0 | 0 | 0 | 2313 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 |  | 2888888 | 39326 | SH |  | SOLE | 0 | 0 | 0 | 39326 |
| VANGUARD WORLD FD | MEGA GRWTH IND | 921910816 |  | 5964267 | 14821 | SH |  | SOLE | 0 | 0 | 0 | 14821 |
| WALMART INC | COM | 931142103 |  | 574353 | 5573 | SH |  | SOLE | 0 | 0 | 0 | 5573 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 9396390 | 112102 | SH |  | SOLE | 0 | 0 | 0 | 112102 |

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