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Asset manager

Tocqueville Asset Management L.P.

13F for the quarter to June 30, 2026, filed August 10, 2026 · SEC CIK 883961

Reported value
$7.6bn
88% in companies we cover
Positions we cover
431
Largest HD 3.9%
Copy, a year
+14.1%
S&P 500 +13.8%
Copy Sharpe ratio
0.77
S&P 500 0.76

How copying its 13F would have done

$10.0k$20.0k$40.0k 2013201520172019202120232025 $57.4k$55.3k
CopyS&P 500 $10,000 copying Tocqueville Asset Management L.P.'s filed holdings in companies we cover from August 2, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −32.5% (S&P 500 −31.8%); beta 0.97; alpha +0.7% a year (t = 0.51); last 12 months +15.9% against +12.1%.

Reported value by quarter

Tocqueville Asset Management L.P.: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).
$0 $2T $4T $6T Reported value, 2013-06-30: $7.4B Reported value, 2013-09-30: $8B Reported value, 2013-12-31: $7.4B Reported value, 2014-03-31: $7.6B Reported value, 2014-06-30: $10.3B Reported value, 2014-09-30: $9B Reported value, 2014-12-31: $9.3B Reported value, 2015-03-31: $8.5B Reported value, 2015-06-30: $8.5B Reported value, 2015-09-30: $7.4B Reported value, 2015-12-31: $7.3B Reported value, 2016-03-31: $7.5B Reported value, 2016-06-30: $16B Reported value, 2016-09-30: $8.2B Reported value, 2016-12-31: $7.7B Reported value, 2017-03-31: $8.1B Reported value, 2017-06-30: $8.2B Reported value, 2017-09-30: $8.6B Reported value, 2017-12-31: $8.7B Reported value, 2018-03-31: $7.7B Reported value, 2018-06-30: $7.8B Reported value, 2018-09-30: $7.9B Reported value, 2018-12-31: $6.6B Reported value, 2019-03-31: $7.4B Reported value, 2019-06-30: $7.6B Reported value, 2019-09-30: $7.3B Reported value, 2019-12-31: $6.7B Reported value, 2020-03-31: $4B Reported value, 2020-06-30: $4.7B Reported value, 2020-09-30: $5.2B Reported value, 2020-12-31: $5.9B Reported value, 2021-03-31: $6.4B Reported value, 2021-06-30: $6.9B Reported value, 2021-09-30: $6.7B Reported value, 2021-12-31: $7.2B Reported value, 2022-03-31: $6.6B Reported value, 2022-06-30: $5.5B Reported value, 2022-09-30: $4.9B Reported value, 2022-12-31: $5.3T Reported value, 2023-03-31: $5.3B Reported value, 2023-06-30: $5.6B Reported value, 2023-09-30: $5.3B Reported value, 2023-12-31: $5.5B Reported value, 2024-03-31: $6.1B Reported value, 2024-06-30: $6.1B Reported value, 2024-09-30: $6.4B Reported value, 2024-12-31: $6.4B Reported value, 2025-03-31: $6.1B Reported value, 2025-06-30: $6.6B Reported value, 2025-09-30: $6.9B Reported value, 2025-12-31: $6.9B Reported value, 2026-03-31: $6.7B Reported value, 2026-06-30: $7.6B 2013-06-30 2016-03-31 2018-12-31 2021-09-30 2026-06-30 $7.6B
View chart data
Period Reported value
2013-06-30 $7.4B
2013-09-30 $8B
2013-12-31 $7.4B
2014-03-31 $7.6B
2014-06-30 $10.3B
2014-09-30 $9B
2014-12-31 $9.3B
2015-03-31 $8.5B
2015-06-30 $8.5B
2015-09-30 $7.4B
2015-12-31 $7.3B
2016-03-31 $7.5B
2016-06-30 $16B
2016-09-30 $8.2B
2016-12-31 $7.7B
2017-03-31 $8.1B
2017-06-30 $8.2B
2017-09-30 $8.6B
2017-12-31 $8.7B
2018-03-31 $7.7B
2018-06-30 $7.8B
2018-09-30 $7.9B
2018-12-31 $6.6B
2019-03-31 $7.4B
2019-06-30 $7.6B
2019-09-30 $7.3B
2019-12-31 $6.7B
2020-03-31 $4B
2020-06-30 $4.7B
2020-09-30 $5.2B
2020-12-31 $5.9B
2021-03-31 $6.4B
2021-06-30 $6.9B
2021-09-30 $6.7B
2021-12-31 $7.2B
2022-03-31 $6.6B
2022-06-30 $5.5B
2022-09-30 $4.9B
2022-12-31 $5.3T
2023-03-31 $5.3B
2023-06-30 $5.6B
2023-09-30 $5.3B
2023-12-31 $5.5B
2024-03-31 $6.1B
2024-06-30 $6.1B
2024-09-30 $6.4B
2024-12-31 $6.4B
2025-03-31 $6.1B
2025-06-30 $6.6B
2025-09-30 $6.9B
2025-12-31 $6.9B
2026-03-31 $6.7B
2026-06-30 $7.6B

Holdings and moves

CompanyShare of portfolioValueSharesChange in shares
HDThe Home Depot3.95%$298.5m846.4K−0.2%
NVDANVIDIA Corporation3.07%$232.4m1.16M−0.9% Reduced
AMATApplied Materials2.89%$218.4m302.1K−10.1% Reduced
GOOGLAlphabet Inc. (Class A)2.72%$205.5m574.9K−1.5% Reduced
MSFTMicrosoft Corporation2.24%$169.5m454.5K−3.4% Reduced
AAPLApple Inc.2.23%$168.9m583.7K−1.6% Reduced
AMZNAmazon2.11%$159.4m668.8K+2.1% Added
MUMicron Technology1.41%$106.5m92.2K−36.3% Reduced
NEENextEra Energy1.31%$99.4m1.13M−2.6% Reduced
VRTVertiv1.29%$97.5m291.1K−0.1%
RKLBRocket Lab Corp1.13%$85.2m837.7K−10.2% Reduced
ABBVAbbVie1.12%$84.6m336.1K−0.4%
CATCaterpillar Inc.1.12%$84.4m79.3K−0.4%
GPCGenuine Parts Company1.08%$81.7m692.7K−10.6% Reduced
IFFInternational Flavors & Fragrances1.06%$80.4m1.02M+3.6% Added
QCOMQualcomm1.06%$80.3m434.6K−21.9% Reduced
CCJCameco Corp1.05%$79.6m781.6K−0.9% Reduced
JPMJPMorgan Chase1.04%$78.8m240.7K−4.3% Reduced
MRVLMarvell Technology1.02%$77.2m259.2K−3.3% Reduced
RSGRepublic Services1.02%$76.8m360.5K+2.1% Added
PANWPalo Alto Networks0.94%$71.0m208.1K−11.4% Reduced
FCXFreeport-McMoRan0.93%$70.7m1.12M+5.4% Added
DEDeere & Company0.88%$66.6m104.9K−0.5%
NEMNewmont0.87%$65.7m703.9K0.0%
JNJJohnson & Johnson0.87%$65.6m258.2K−5.5% Reduced
FDXFedEx0.83%$62.9m200.7K−0.5% Reduced
METAMeta Platforms0.78%$59.1m104.9K+41.1% Added
MRKMerck & Co.0.76%$57.5m447.8K+0.3%
PHParker Hannifin0.71%$53.7m54.9K0.0%
IBMIBM0.70%$53.1m188.8K+117.9% Added
CCitigroup0.67%$50.9m363.6K−0.7% Reduced
WPMWheaton Precious Metals Corp.0.65%$49.5m440.4K−1.7% Reduced
SBUXStarbucks0.63%$47.6m465.5K−0.7% Reduced
CLColgate-Palmolive0.63%$47.5m518.0K−3.9% Reduced
UBERUber0.61%$46.5m643.9K+19.3% Added
DISThe Walt Disney Company0.60%$45.5m473.1K−0.9% Reduced
GEHCGE HealthCare0.60%$45.1m704.3K+95.9% Added
GLWCorning Inc.0.58%$44.0m172.3K−1.6% Reduced
GSGoldman Sachs0.58%$43.8m43.3K−5.4% Reduced
ABTAbbott Laboratories0.57%$43.4m478.4K+127.3% Added
EMREmerson Electric0.55%$41.9m292.5K−1.6% Reduced
TMOThermo Fisher Scientific0.55%$41.5m82.8K−2.8% Reduced
PGProcter & Gamble0.54%$40.7m277.5K−12.0% Reduced
WMTWalmart0.53%$40.2m354.9K−0.6% Reduced
TSNTyson Foods0.53%$40.0m698.6K+43.1% Added
EXEExpand Energy0.53%$39.8m436.7K+16.6% Added
BKNGBooking Holdings0.53%$39.8m223.1K+2524.6% Added
UTHRUnited Therapeutics Corp0.52%$38.9m71.9K+19.2% Added
BSXBoston Scientific0.51%$38.5m903.0K+33.1% Added
CBChubb Limited0.49%$37.2m109.1K−2.2% Reduced
AVGOBroadcom0.49%$36.9m97.6K−2.8% Reduced
FLEXFlex Ltd.0.48%$36.6m225.7K−13.0% Reduced
APDAir Products0.48%$36.0m122.8K−1.1% Reduced
TPLTexas Pacific Land Corporation0.47%$35.5m81.1K+6.5% Added
NFGNational Fuel GAS Co0.46%$34.6m447.5K+40.3% Added
UNHUnitedHealth Group0.46%$34.5m82.9K−1.6% Reduced
INTCIntel0.45%$34.3m245.8K−16.1% Reduced
RTXRTX Corporation0.45%$34.2m180.2K−0.8% Reduced
CSCOCisco0.45%$33.7m286.9K−2.1% Reduced
WYWeyerhaeuser0.43%$32.7m1.36M−0.4%
MTBM&T Bank0.42%$32.1m134.7K−6.7% Reduced
VSHVishay Intertechnology Inc0.42%$31.6m588.1K−48.9% Reduced
CVXChevron Corporation0.42%$31.6m190.4K−14.3% Reduced
FANGDiamondback Energy0.42%$31.5m179.0K0.0%
CVSCVS Health0.41%$31.2m301.2K−0.5% Reduced
AERAercap Holdings N.V.0.41%$30.8m211.0K+0.2%
APOApollo Global Management0.41%$30.7m259.5K−1.1% Reduced
PGRProgressive Corporation0.41%$30.6m140.3K+5.9% Added
BAXBaxter International0.41%$30.6m1.44M+5.1% Added
PAYXPaychex0.40%$30.5m310.6K+157.8% Added
MAMastercard0.40%$30.5m59.3K−1.2% Reduced
KVUEKenvue0.40%$30.3m1.59M−1.8% Reduced
SPGIS&P Global0.40%$30.2m74.1K+87.8% Added
SWKStanley Black & Decker0.39%$29.8m316.8K+0.8% Added
LLYLilly (Eli)0.39%$29.6m24.7K+0.3%
ALLAllstate0.39%$29.4m123.6K+0.1%
DDominion Energy0.37%$27.9m407.9K+8.6% Added
HUMHumana0.35%$26.4m66.6K+49.5% Added
AVAVAerovironment Inc0.34%$25.8m156.4K+40.5% Added
CMGChipotle Mexican Grill0.34%$25.7m754.4K+1.5% Added
BACBank of America0.34%$25.4m446.5K−3.1% Reduced
NUENucor0.33%$24.9m111.7K−3.5% Reduced
HONAHoneywell Aerospace0.32%$24.1m109.1KNew
GPNGlobal Payments0.32%$23.9m329.7K+2.8% Added
ROKRockwell Automation0.32%$23.9m48.3K−2.0% Reduced
TAT&T0.31%$23.6m1.14M+5.5% Added
NFLXNetflix0.31%$23.3m326.3K+13.8% Added
ICEIntercontinental Exchange0.30%$23.1m187.5K+6.5% Added
MSIMotorola Solutions0.30%$23.1m55.5K0.0%
DGXQuest Diagnostics0.30%$22.7m107.0K−0.5%
EQHEquitable Holdings, Inc.0.30%$22.5m513.0K+4.1% Added
CACICACI International Inc0.28%$21.6m46.6K+35.0% Added
HONHoneywell Technologies0.28%$20.9m93.5KNew
BLDRBuilders Firstsource, Inc.0.27%$20.2m225.6K+13.1% Added
VMCVulcan Materials Company0.26%$20.0m67.7K0.0%
IONSIonis Pharmaceuticals Inc0.26%$19.9m251.2K+14.6% Added
ADPAutomatic Data Processing0.25%$19.2m85.8K−0.1%
KOThe Coca-Cola Company0.25%$19.1m234.8K0.0%
WSMWilliams-Sonoma, Inc.0.25%$19.0m81.7K−1.0% Reduced
WMWaste Management0.25%$19.0m85.2K−0.6% Reduced
NVTnVent Electric plc0.25%$18.9m111.3K0.0%
AXPAmerican Express0.25%$18.6m55.1K−0.6% Reduced
MURMurphy OIL Corp0.25%$18.6m571.9K+4.6% Added
AREAlexandria Real Estate Equities0.24%$18.5m350.9K−11.4% Reduced
BDXBecton Dickinson0.24%$18.2m120.2K+43.4% Added
ALLYAlly Financial Inc.0.23%$17.6m383.3K+1.1% Added
SIISprott Inc.0.23%$17.4m154.9K+2.8% Added
STSensata Technologies Holding plc0.22%$16.8m352.8K−13.2% Reduced
SLBSchlumberger0.22%$16.8m362.2K0.0%
XPOXPO, Inc.0.22%$16.6m81.1K−11.6% Reduced
VZVerizon0.21%$16.0m378.4K+1.0% Added
LOWLowe's0.20%$15.4m69.8K−2.1% Reduced
MCDMcDonald's0.20%$15.4m56.8K+0.4%
DLTRDollar Tree0.20%$15.2m125.6K+1.2% Added
USBU.S. Bancorp0.20%$14.7m243.9K−19.5% Reduced
NINiSource0.19%$14.2m299.5KNew
UNPUnion Pacific Corporation0.18%$13.8m50.9K+9.1% Added
LINLinde plc0.18%$13.8m26.5K+20.3% Added
ULUnilever PLC0.18%$13.4m223.1K−52.5% Reduced
BKRBaker Hughes0.18%$13.4m240.5K+142.8% Added
AFLAflac0.17%$13.2m112.5K0.0%
SHOPShopify Inc.0.17%$12.7m111.7K+1.7% Added
SCHWCharles Schwab Corporation0.17%$12.7m137.3K+1.4% Added
PWRQuanta Services0.17%$12.6m17.5K−15.3% Reduced
MIAXMiami International Holdings, Inc.0.17%$12.6m338.2K+8.4% Added
CARRCarrier Global0.16%$12.2m166.5K+9.3% Added
SYYSysco0.15%$11.4m137.0K−0.2%
DHRDanaher Corporation0.15%$11.3m59.3K−15.5% Reduced
CRCrane Co0.15%$11.2m50.4K0.0%
PFEPfizer0.15%$11.2m465.0K−1.1% Reduced
MPCMarathon Petroleum0.15%$11.1m43.3K+15.1% Added
ASMLAsml Holding NV0.15%$11.1m5.6K+25.1% Added
VVisa Inc.0.14%$10.9m31.7K−1.9% Reduced
MLMMartin Marietta Materials0.14%$10.8m18.8K−0.1%
AJGArthur J. Gallagher & Co.0.14%$10.8m47.2K+1.4% Added
NTRNutrien Ltd.0.14%$10.8m171.1K−36.5% Reduced
ORCLOracle Corporation0.14%$10.7m73.1K−3.4% Reduced
NOWServiceNow0.14%$10.7m107.7K−25.6% Reduced
TRMBTrimble Inc.0.14%$10.6m207.8K+0.6% Added
LHLabcorp0.14%$10.4m37.2K−1.0% Reduced
ZDZiff Davis, Inc.0.14%$10.3m196.2K−10.5% Reduced
LBLandbridge Corp0.14%$10.2m128.5K+27.3% Added
BAMBrookfield Asset Management Ltd.0.13%$10.1m226.2K−6.2% Reduced
HOODRobinhood Markets0.13%$9.9m99.1K+3.2% Added
BBarrick Mining Corp0.13%$9.5m257.4K−3.7% Reduced
PEPPepsiCo0.12%$9.4m69.1K−1.5% Reduced
NXTNextpower Inc.0.12%$9.3m78.2K−0.7% Reduced
AEPAmerican Electric Power0.12%$9.0m66.1K+0.8% Added
FNVFranco Nevada Corp0.12%$8.9m42.8K−0.5%
EBAYeBay Inc.0.11%$8.7m77.4K−4.3% Reduced
CompanyBought (value)Shares
BKNGBooking Holdings$38.3m214.6K
IBMIBM$28.7m102.2K
ABTAbbott Laboratories$24.3m267.9K
HONAHoneywell Aerospace$24.1m109.1K
GEHCGE HealthCare$22.1m344.9K
HONHoneywell Technologies$20.9m93.5K
PAYXPaychex$18.7m190.1K
METAMeta Platforms$17.2m30.5K
NINiSource$14.2m299.5K
SPGIS&P Global$14.1m34.7K
TSNTyson Foods$12.0m210.4K
NFGNational Fuel GAS Co$9.9m128.6K
BSXBoston Scientific$9.6m224.8K
HUMHumana$8.8m22.1K
BKRBaker Hughes$7.9m141.5K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanySold (value)Shares
MUMicron Technology−$60.7m−52.6K
VSHVishay Intertechnology Inc−$30.3m−562.9K
AMATApplied Materials−$24.6m−34.0K
QCOMQualcomm−$22.5m−122.0K
ULUnilever PLC−$14.8m−246.7K
ONON Semiconductor Corp−$10.0m−105.9K
AXGNAxogen, Inc.−$9.7m−211.0K
RKLBRocket Lab Corp−$9.7m−95.6K
GPCGenuine Parts Company−$9.7m−82.2K
CORCencora−$9.6m−30.6K
PANWPalo Alto Networks−$9.2m−26.8K
RVTYRevvity−$8.4m−75.6K
REGNRegeneron Pharmaceuticals−$7.8m−12.5K
INTCIntel−$6.6m−47.1K
ADBEAdobe Inc.−$6.3m−30.7K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanyValue last quarterShares
CORCencora$9.6m30.6K
WATWaters Corporation$1.9m6.4K
GTMZoominfo Technologies Inc.$1.4m230.0K
TFXTeleflex Inc$943,7237.9K
ROPRoper Technologies$539,2831.5K
MICCMagnum Ice Cream Co N.V.$492,82733.0K
TKOTKO Group Holdings$444,2352.2K
EVRGEvergy$425,9845.2K
FISVFiserv$360,1336.5K
CPBCampbell's Co$278,37512.5K
PCVXVaxcyte, Inc.$244,0624.2K
DCIDonaldson Co Inc$236,4482.8K
IDAIdacorp Inc$228,7521.6K
IDCCInterdigital, Inc.$218,950725
SNPSSynopsys Inc$214,099540
VLTOVeralto$204,1622.3K
VTRVentas$201,4242.5K
DMACDiamedica Therapeutics Inc.$71,08510.5K
  • Technology24.3%
  • Industrials16.6%
  • Health Care11.5%
  • Consumer Discretionary11.2%
  • Financials10.4%
  • Materials6.6%
  • Communication Services6.0%
  • Energy4.8%
  • Consumer Staples4.5%
  • Utilities3.0%
  • Real Estate1.1%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestAugust 2, 2013 to November 2, 2026+14.1%+13.8%0.770.76−32.5%0.97
2018 onwardsJanuary 5, 2018 to November 2, 2026+14.3%+13.9%0.670.66−32.5%0.98
Last three yearsNovember 3, 2023 to November 2, 2026+20.6%+21.8%1.111.16−17.6%0.94
Last yearNovember 7, 2025 to November 2, 2026+17.9%+14.2%1.110.84−8.3%0.88

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.