# EDGAR Filing Document

**Accession Number:** 0001906202
**File Stem:** 0001906202-23-000001
**Filing Date:** 2023-2
**Character Count:** 14004
**Document Hash:** 2a56de4337df8b42a1e77db6a90864f1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001906202-23-000001.hdr.sgml**: 20230203

**ACCESSION NUMBER**: 0001906202-23-000001

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230203

**DATE AS OF CHANGE**: 20230203

**EFFECTIVENESS DATE**: 20230203

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Hedges Asset Management LLC
- **CENTRAL INDEX KEY:** 0001906202
- **IRS NUMBER:** 861343513
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-21643
- **FILM NUMBER:** 23584896

**BUSINESS ADDRESS:**
- **STREET 1:** 2669 RODNEY DRIVE
- **CITY:** RENO
- **STATE:** NV
- **ZIP:** 89509
- **BUSINESS PHONE:** 775-843-2069

**MAIL ADDRESS:**
- **STREET 1:** 2669 RODNEY DRIVE
- **CITY:** RENO
- **STATE:** NV
- **ZIP:** 89509

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**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:** Hedges Asset Management LLC<br>**Address:** 2669 Rodney Drive<br>Reno, NV 89509

**Form 13F File Number:** 028-21643

**CRD Number (if applicable):** 000313637

**SEC File Number (if applicable):** 801-121018

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:** William T. Hedges<br>**Title:** Managing Member / CCO<br>**Phone:** 775-843-2069

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

/s/ William T. Hedges  Reno, NV  02-03-2023<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:** 107

**Form 13F Information Table Value Total:** $112036542

      (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 |  | 233844 | 1950 | SH |  | SOLE |  | 1950 | 0 | 0 |
| ABRDN GOLD ETF TRUST | PHYSCL GOLD SHS | 00326A104 |  | 174700 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| ADVISORSHARES TR | PURE US CANNABIS | 00768Y453 |  | 104850 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| ALBEMARLE CORP | COM | 012653101 |  | 216860 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| ALPS ETF TR | ALERIAN MLP | 00162Q452 |  | 266490 | 7000 | SH |  | SOLE |  | 7000 | 0 | 0 |
| AMNEAL PHARMACEUTICALS INC | COM STK CL A | 03168L105 |  | 99500 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| ARAMARK | COM | 03852U106 |  | 413400 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| ARCONIC CORPORATION | COM | 03966V107 |  | 687700 | 32500 | SH |  | SOLE |  | 32500 | 0 | 0 |
| ARCOS DORADOS HOLDINGS INC | SHS CLASS -A - | G0457F107 |  | 2634102 | 315084 | SH |  | SOLE |  | 315084 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 194833 | 10583 | SH |  | SOLE |  | 10583 | 0 | 0 |
| BANCO BILBAO VIZCAYA ARGENTA | SPONSORED ADR | 05946K101 |  | 81135 | 13500 | SH |  | SOLE |  | 13500 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 738576 | 22300 | SH |  | SOLE |  | 22300 | 0 | 0 |
| BARCLAYS PLC | ADR | 06738E204 |  | 1159860 | 148700 | SH |  | SOLE |  | 148700 | 0 | 0 |
| BARRICK GOLD CORP | COM | 067901108 |  | 673456 | 39200 | SH |  | SOLE |  | 39200 | 0 | 0 |
| BOEING CO | COM | 097023105 |  | 1226756 | 6440 | SH |  | SOLE |  | 6440 | 0 | 0 |
| BP PLC | SPONSORED ADR | 055622104 |  | 3105845 | 88916 | SH |  | SOLE |  | 88916 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 852608 | 11850 | SH |  | SOLE |  | 11850 | 0 | 0 |
| BROOKDALE SR LIVING INC | COM | 112463104 |  | 565110 | 207000 | SH |  | SOLE |  | 207000 | 0 | 0 |
| C3 AI INC | CL A | 12468P104 |  | 190790 | 17050 | SH |  | SOLE |  | 17050 | 0 | 0 |
| CARNIVAL CORP | COMMON STOCK | 143658300 |  | 161200 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 2345396 | 13067 | SH |  | SOLE |  | 13067 | 0 | 0 |
| CINEMARK HLDGS INC | COM | 17243V102 |  | 627850 | 72500 | SH |  | SOLE |  | 72500 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 483436 | 7600 | SH |  | SOLE |  | 7600 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 295000 | 2500 | SH |  | SOLE |  | 2500 | 0 | 0 |
| CORTEVA INC | COM | 22052L104 |  | 579865 | 9865 | SH |  | SOLE |  | 9865 | 0 | 0 |
| CRISPR THERAPEUTICS AG | NAMEN AKT | H17182108 |  | 637189 | 15675 | SH |  | SOLE |  | 15675 | 0 | 0 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 433752 | 13200 | SH |  | SOLE |  | 13200 | 0 | 0 |
| DEVON ENERGY CORP NEW | COM | 25179M103 |  | 369060 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 404861 | 4660 | SH |  | SOLE |  | 4660 | 0 | 0 |
| DOW INC | COM | 260557103 |  | 744008 | 14765 | SH |  | SOLE |  | 14765 | 0 | 0 |
| DUPONT DE NEMOURS INC | COM | 26614N102 |  | 1680131 | 24481 | SH |  | SOLE |  | 24481 | 0 | 0 |
| EBAY INC. | COM | 278642103 |  | 373230 | 9000 | SH |  | SOLE |  | 9000 | 0 | 0 |
| EDWARDS LIFESCIENCES CORP | COM | 28176E108 |  | 290979 | 3900 | SH |  | SOLE |  | 3900 | 0 | 0 |
| EL POLLO LOCO HLDGS INC | COM | 268603107 |  | 364536 | 36600 | SH |  | SOLE |  | 36600 | 0 | 0 |
| ELANCO ANIMAL HEALTH INC | COM | 28414H103 |  | 567008 | 46400 | SH |  | SOLE |  | 46400 | 0 | 0 |
| ERICSSON | ADR B SEK 10 | 294821608 |  | 105120 | 18000 | SH |  | SOLE |  | 18000 | 0 | 0 |
| ETF MANAGERS TR | ETFMG ALTR HRVST | 26924G508 |  | 93720 | 22000 | SH |  | SOLE |  | 22000 | 0 | 0 |
| FEDEX CORP | COM | 31428X106 |  | 1515500 | 8750 | SH |  | SOLE |  | 8750 | 0 | 0 |
| FORD MTR CO DEL | COM | 345370860 |  | 636161 | 54700 | SH |  | SOLE |  | 54700 | 0 | 0 |
| FRANCO NEV CORP | COM | 351858105 |  | 464032 | 3400 | SH |  | SOLE |  | 3400 | 0 | 0 |
| GAMING  LEISURE PPTYS INC | COM | 36467J108 |  | 5378813 | 103260 | SH |  | SOLE |  | 103260 | 0 | 0 |
| GENERAL ELECTRIC CO | COM NEW | 369604301 |  | 4254689 | 50778 | SH |  | SOLE |  | 50778 | 0 | 0 |
| GENERAL MTRS CO | COM | 37045V100 |  | 248936 | 7400 | SH |  | SOLE |  | 7400 | 0 | 0 |
| GLACIER BANCORP INC NEW | COM | 37637Q105 |  | 14723355 | 297923 | SH |  | SOLE |  | 297923 | 0 | 0 |
| GOODYEAR TIRE  RUBR CO | COM | 382550101 |  | 517650 | 51000 | SH |  | SOLE |  | 51000 | 0 | 0 |
| HONDA MOTOR LTD | AMERN SHS | 438128308 |  | 342900 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| HOWMET AEROSPACE INC | COM | 443201108 |  | 1164566 | 29550 | SH |  | SOLE |  | 29550 | 0 | 0 |
| HP INC | COM | 40434L105 |  | 403050 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| IMAX CORP | COM | 45245E109 |  | 806300 | 55000 | SH |  | SOLE |  | 55000 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 1184064 | 44800 | SH |  | SOLE |  | 44800 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 1197565 | 8500 | SH |  | SOLE |  | 8500 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 494375 | 3500 | SH |  | SOLE |  | 3500 | 0 | 0 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 275250 | 12500 | SH |  | SOLE |  | 12500 | 0 | 0 |
| ISHARES TR | MSCI EURO FL ETF | 464289180 |  | 767814 | 43800 | SH |  | SOLE |  | 43800 | 0 | 0 |
| ISHARES TR | EUROPE ETF | 464287861 |  | 294385 | 6500 | SH |  | SOLE |  | 6500 | 0 | 0 |
| ISHARES TR | CHINA LG-CAP ETF | 464287184 |  | 209420 | 7400 | SH |  | SOLE |  | 7400 | 0 | 0 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 576630 | 4300 | SH |  | SOLE |  | 4300 | 0 | 0 |
| KINDER MORGAN INC DEL | COM | 49456B101 |  | 226000 | 12500 | SH |  | SOLE |  | 12500 | 0 | 0 |
| KNOWLES CORP | COM | 49926D109 |  | 200324 | 12200 | SH |  | SOLE |  | 12200 | 0 | 0 |
| KRANESHARES TR | CSI CHI INTERNET | 500767306 |  | 324650 | 10750 | SH |  | SOLE |  | 10750 | 0 | 0 |
| KYNDRYL HLDGS INC | COMMON STOCK | 50155Q100 |  | 211280 | 19000 | SH |  | SOLE |  | 19000 | 0 | 0 |
| LENNAR CORP | CL B | 526057302 |  | 224340 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| LINDBLAD EXPEDITIONS HLDGS I | COM | 535219109 |  | 562100 | 73000 | SH |  | SOLE |  | 73000 | 0 | 0 |
| LOEWS CORP | COM | 540424108 |  | 1224930 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| LYFT INC | CL A COM | 55087P104 |  | 899232 | 81600 | SH |  | SOLE |  | 81600 | 0 | 0 |
| MAG SILVER CORP | COM | 55903Q104 |  | 703350 | 45000 | SH |  | SOLE |  | 45000 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 263530 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 458548 | 5900 | SH |  | SOLE |  | 5900 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 1808485 | 16300 | SH |  | SOLE |  | 16300 | 0 | 0 |
| MGM RESORTS INTERNATIONAL | COM | 552953101 |  | 888545 | 26500 | SH |  | SOLE |  | 26500 | 0 | 0 |
| NEW GOLD INC CDA | COM | 644535106 |  | 448350 | 457500 | SH |  | SOLE |  | 457500 | 0 | 0 |
| NEW YORK CMNTY BANCORP INC | COM | 649445103 |  | 517944 | 60226 | SH |  | SOLE |  | 60226 | 0 | 0 |
| NEWMONT CORP | COM | 651639106 |  | 889720 | 18850 | SH |  | SOLE |  | 18850 | 0 | 0 |
| NUTANIX INC | CL A | 67059N108 |  | 1099310 | 42200 | SH |  | SOLE |  | 42200 | 0 | 0 |
| ORGANON  CO | COMMON STOCK | 68622V106 |  | 572565 | 20500 | SH |  | SOLE |  | 20500 | 0 | 0 |
| OWENS CORNING NEW | COM | 690742101 |  | 452090 | 5300 | SH |  | SOLE |  | 5300 | 0 | 0 |
| PARAMOUNT GLOBAL | CLASS B COM | 92556H206 |  | 509776 | 30200 | SH |  | SOLE |  | 30200 | 0 | 0 |
| PENN ENTERTAINMENT INC | COM | 707569109 |  | 5145525 | 173250 | SH |  | SOLE |  | 173250 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 204960 | 4000 | SH |  | SOLE |  | 4000 | 0 | 0 |
| PROSHARES TR | SHORT QQQ NEW | 74347B714 |  | 2656960 | 180500 | SH |  | SOLE |  | 180500 | 0 | 0 |
| PROSHARES TR | SHRT 20+YR TRE | 74347X849 |  | 396900 | 17500 | SH |  | SOLE |  | 17500 | 0 | 0 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 2566080 | 48000 | SH |  | SOLE |  | 48000 | 0 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 1498680 | 18000 | SH |  | SOLE |  | 18000 | 0 | 0 |
| SHAKE SHACK INC | CL A | 819047101 |  | 909507 | 21900 | SH |  | SOLE |  | 21900 | 0 | 0 |
| SHELL PLC | SPON ADS | 780259305 |  | 4194381 | 73650 | SH |  | SOLE |  | 73650 | 0 | 0 |
| SKECHERS U S A INC | CL A | 830566105 |  | 222335 | 5300 | SH |  | SOLE |  | 5300 | 0 | 0 |
| SOCIEDAD QUIMICA Y MINERA DE | SPON ADR SER B | 833635105 |  | 1644704 | 20600 | SH |  | SOLE |  | 20600 | 0 | 0 |
| SOUTHWEST AIRLS CO | COM | 844741108 |  | 999999 | 29700 | SH |  | SOLE |  | 29700 | 0 | 0 |
| SPROTT PHYSICAL GOLD TR | UNIT | 85207H104 |  | 1424100 | 101000 | SH |  | SOLE |  | 101000 | 0 | 0 |
| SPROTT PHYSICAL SILVER TR | TR UNIT | 85207K107 |  | 502640 | 61000 | SH |  | SOLE |  | 61000 | 0 | 0 |
| TRIPADVISOR INC | COM | 896945201 |  | 359600 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 1232791 | 49850 | SH |  | SOLE |  | 49850 | 0 | 0 |
| UNILEVER PLC | SPON ADR NEW | 904767704 |  | 1082525 | 21500 | SH |  | SOLE |  | 21500 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 1986644 | 11428 | SH |  | SOLE |  | 11428 | 0 | 0 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 1332690 | 46500 | SH |  | SOLE |  | 46500 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EUROPE ETF | 922042874 |  | 1918224 | 34600 | SH |  | SOLE |  | 34600 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 230644 | 4600 | SH |  | SOLE |  | 4600 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 2198520 | 55800 | SH |  | SOLE |  | 55800 | 0 | 0 |
| VIATRIS INC | COM | 92556V106 |  | 685608 | 61600 | SH |  | SOLE |  | 61600 | 0 | 0 |
| WABTEC | COM | 929740108 |  | 274478 | 2750 | SH |  | SOLE |  | 2750 | 0 | 0 |
| WALGREENS BOOTS ALLIANCE INC | COM | 931427108 |  | 209216 | 5600 | SH |  | SOLE |  | 5600 | 0 | 0 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 |  | 397335 | 41913 | SH |  | SOLE |  | 41913 | 0 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 1614439 | 39100 | SH |  | SOLE |  | 39100 | 0 | 0 |
| WESTROCK CO | COM | 96145D105 |  | 422799 | 12025 | SH |  | SOLE |  | 12025 | 0 | 0 |
| WILLIAMS COS INC | COM | 969457100 |  | 802760 | 24400 | SH |  | SOLE |  | 24400 | 0 | 0 |
| WISDOMTREE TR | EUROPE SMCP DV | 97717W869 |  | 519799 | 9500 | SH |  | SOLE |  | 9500 | 0 | 0 |
| WYNN RESORTS LTD | COM | 983134107 |  | 2284419 | 27700 | SH |  | SOLE |  | 27700 | 0 | 0 |

---