# EDGAR Filing Document

**Accession Number:** 0001910874
**File Stem:** 0000919574-25-006725
**Filing Date:** 2025-11
**Character Count:** 10855
**Document Hash:** 3426ec4a3a04243e275db4648b9622cb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000919574-25-006725.hdr.sgml**: 20251113

**ACCESSION NUMBER**: 0000919574-25-006725

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251113

**DATE AS OF CHANGE**: 20251113

**EFFECTIVENESS DATE**: 20251113

**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:** 251479064

**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:** 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:** 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  11-13-2025<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:** 1

**Form 13F Information Table Entry Total:** 72

**Form 13F Information Table Value Total:** $134890539

      (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 |
| ABRDN PALLADIUM ETF TRUST | PHYSICAL PALLADM | 003262102 |  | 294216 | 2577 | SH |  | SOLE |  | 2577 | 0 | 0 |
| ACM RESH INC | COM CL A | 00108J109 |  | 544064 | 13904 | SH |  | SOLE |  | 13904 | 0 | 0 |
| ADVISORSHARES TR | PURE US CANNABIS | 00768Y453 |  | 413511 | 86328 | SH |  | SOLE |  | 86328 | 0 | 0 |
| AGNICO EAGLE MINES LTD | COM | 008474108 |  | 4214000 | 25000 | SH |  | DFND | 1 | 25000 | 0 | 0 |
| ALAMOS GOLD INC NEW | COM CL A | 011532108 |  | 753673 | 21620 | SH |  | SOLE |  | 21620 | 0 | 0 |
| ALAMOS GOLD INC NEW | COM CL A | 011532108 |  | 6972000 | 200000 | SH |  | DFND | 1 | 200000 | 0 | 0 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 661301 | 3700 | SH |  | SOLE |  | 3700 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 3639207 | 14970 | SH |  | SOLE |  | 14970 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 474271 | 2160 | SH |  | SOLE |  | 2160 | 0 | 0 |
| ANGLOGOLD ASHANTI PLC | COM SHS | G0378L100 |  | 7033000 | 100000 | SH |  | DFND | 1 | 100000 | 0 | 0 |
| ATRENEW INC | SPONSORED ADS | 00138L108 |  | 808220 | 175700 | SH |  | SOLE |  | 175700 | 0 | 0 |
| AUTOZONE INC | COM | 053332102 |  | 1420069 | 331 | SH |  | SOLE |  | 331 | 0 | 0 |
| AVANTOR INC | COM | 05352A100 |  | 624000 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| BAUSCH HEALTH COS INC | COM | 071734107 |  | 241914 | 37506 | SH |  | SOLE |  | 37506 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 488663 | 972 | SH |  | SOLE |  | 972 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 2262600 | 3 | SH |  | SOLE |  | 3 | 0 | 0 |
| BIONTECH SE | SPONSORED ADS | 09075V102 |  | 353060 | 3580 | SH |  | SOLE |  | 3580 | 0 | 0 |
| BLACKROCK INC | COM | 09290D101 |  | 935028 | 802 | SH |  | SOLE |  | 802 | 0 | 0 |
| BLOOM ENERGY CORP | COM CL A | 093712107 |  | 253710 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| BOSTON BEER INC | CL A | 100557107 |  | 528550 | 2500 | SH |  | SOLE |  | 2500 | 0 | 0 |
| BROWN FORMAN CORP | CL B | 115637209 |  | 649108 | 23970 | SH |  | SOLE |  | 23970 | 0 | 0 |
| CORCEPT THERAPEUTICS INC | COM | 218352102 |  | 251823 | 3030 | SH |  | SOLE |  | 3030 | 0 | 0 |
| EHANG HLDGS LTD | ADS | 26853E102 |  | 3714000 | 200000 | SH |  | DFND | 1 | 200000 | 0 | 0 |
| ENOVA INTL INC | COM | 29357K103 |  | 388544 | 3376 | SH |  | SOLE |  | 3376 | 0 | 0 |
| ERO COPPER CORP | COM | 296006109 |  | 303592 | 15007 | SH |  | SOLE |  | 15007 | 0 | 0 |
| FIRST SOLAR INC | COM | 336433107 |  | 236629 | 1073 | SH |  | SOLE |  | 1073 | 0 | 0 |
| FLUTTER ENTMT PLC | SHS | G3643J108 |  | 1200404 | 4726 | SH |  | SOLE |  | 4726 | 0 | 0 |
| GDS HLDGS LTD | SPONSORED ADS | 36165L108 |  | 17415000 | 450000 | SH |  | DFND | 1 | 450000 | 0 | 0 |
| GDS HLDGS LTD | SPONSORED ADS | 36165L108 |  | 1217928 | 31471 | SH |  | SOLE |  | 31471 | 0 | 0 |
| HARMONY GOLD MINING CO LTD | SPONSORED ADR | 413216300 |  | 210867 | 11618 | SH |  | SOLE |  | 11618 | 0 | 0 |
| HERTZ GLOBAL HLDGS INC | COM NEW | 42806J700 |  | 195371 | 28731 | SH |  | SOLE |  | 28731 | 0 | 0 |
| HESAI GROUP | SPONSORED ADS | 428050108 |  | 862670 | 30700 | SH |  | SOLE |  | 30700 | 0 | 0 |
| I-80 GOLD CORP | COM | 44955L106 |  | 7165500 | 7500000 | SH |  | DFND | 1 | 7500000 | 0 | 0 |
| ICICI BANK LIMITED | ADR | 45104G104 |  | 362760 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| IMMUNOCORE HLDGS PLC | ADS | 45258D105 |  | 1453200 | 40000 | SH |  | DFND | 1 | 40000 | 0 | 0 |
| INNOVATIVE INDL PPTYS INC | COM | 45781V101 |  | 544641 | 10165 | SH |  | SOLE |  | 10165 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | CHINA TECHNLGY | 46138E800 |  | 297292 | 5038 | SH |  | SOLE |  | 5038 | 0 | 0 |
| IVANHOE ELECTRIC INC | COM | 46578C108 |  | 268344 | 21382 | SH |  | SOLE |  | 21382 | 0 | 0 |
| KANZHUN LIMITED | SPONSORED ADS | 48553T106 |  | 3504000 | 150000 | SH |  | DFND | 1 | 150000 | 0 | 0 |
| KASPI KZ JSC | SPONSORED ADS | 48581R205 |  | 604432 | 7400 | SH |  | SOLE |  | 7400 | 0 | 0 |
| LAS VEGAS SANDS CORP | COM | 517834107 |  | 376530 | 7000 | SH |  | SOLE |  | 7000 | 0 | 0 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 366900 | 157 | SH |  | SOLE |  | 157 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 4247654 | 5784 | SH |  | SOLE |  | 5784 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 248098 | 479 | SH |  | SOLE |  | 479 | 0 | 0 |
| MIDDLEBY CORP | COM | 596278101 |  | 930510 | 7000 | SH |  | SOLE |  | 7000 | 0 | 0 |
| NATURAL RESOURCE PARTNERS L | COM UNIT LTD PAR | 63900P608 |  | 840000 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| NEW GOLD INC CDA | COM | 644535106 |  | 10770000 | 1500000 | SH |  | DFND | 1 | 1500000 | 0 | 0 |
| NEW GOLD INC CDA | COM | 644535106 |  | 517506 | 72076 | SH |  | SOLE |  | 72076 | 0 | 0 |
| NEWMONT CORP | COM | 651639106 |  | 14754250 | 175000 | SH |  | DFND | 1 | 175000 | 0 | 0 |
| NOAH HLDGS LTD | SPON ADS | 65487X102 |  | 429989 | 37100 | SH |  | SOLE |  | 37100 | 0 | 0 |
| NU HLDGS LTD | ORD SHS CL A | G6683N103 |  | 1370696 | 85615 | SH |  | SOLE |  | 85615 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 1361847 | 7299 | SH |  | SOLE |  | 7299 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 285609 | 4259 | SH |  | SOLE |  | 4259 | 0 | 0 |
| PERPETUA RESOURCES CORP | COM | 714266103 |  | 303450 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| PINTEREST INC | CL A | 72352L106 |  | 296929 | 9230 | SH |  | SOLE |  | 9230 | 0 | 0 |
| PONY AI INC | SPONSORED ADS | 732908108 |  | 1016548 | 45200 | SH |  | SOLE |  | 45200 | 0 | 0 |
| ROBLOX CORP | CL A | 771049103 |  | 948862 | 6850 | SH |  | SOLE |  | 6850 | 0 | 0 |
| SANDSTORM GOLD LTD | COM NEW | 80013R206 |  | 525840 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 1023820 | 10724 | SH |  | SOLE |  | 10724 | 0 | 0 |
| SEA LTD | SPONSORD ADS | 81141R100 |  | 1429840 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| SEA LTD | SPONSORD ADS | 81141R100 |  | 8936500 | 50000 | SH |  | DFND | 1 | 50000 | 0 | 0 |
| SEABRIDGE GOLD INC | COM | 811916105 |  | 434700 | 18000 | SH |  | SOLE |  | 18000 | 0 | 0 |
| SIBANYE STILLWATER LTD | SPONSORED ADR | 82575P107 |  | 804413 | 71567 | SH |  | SOLE |  | 71567 | 0 | 0 |
| SILVERCORP METALS INC | COM | 82835P103 |  | 262293 | 41502 | SH |  | SOLE |  | 41502 | 0 | 0 |
| SOCIEDAD QUIMICA Y MINERA DE | SPON ADR SER B | 833635105 |  | 507508 | 11808 | SH |  | SOLE |  | 11808 | 0 | 0 |
| TRANSOCEAN LTD | REGISTERED SHS | H8817H100 |  | 374400 | 120000 | SH |  | SOLE |  | 120000 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 679564 | 2875 | SH |  | SOLE |  | 2875 | 0 | 0 |
| VALARIS LTD | CL A | G9460G101 |  | 634010 | 13000 | SH |  | SOLE |  | 13000 | 0 | 0 |
| VANECK ETF TRUST | JUNIOR GOLD MINE | 92189F791 |  | 572492 | 5781 | SH |  | SOLE |  | 5781 | 0 | 0 |
| VANECK ETF TRUST | JUNIOR GOLD MINE | 92189F791 |  | 4951500 | 50000 | SH |  | DFND | 1 | 50000 | 0 | 0 |
| VNET GROUP INC | SPONSORED ADS A | 90138A103 |  | 651059 | 63026 | SH |  | SOLE |  | 63026 | 0 | 0 |
| VOX ROYALTY CORP | COM | 92919F103 |  | 276060 | 64200 | SH |  | SOLE |  | 64200 | 0 | 0 |

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