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Tocqueville Asset Management L.P.
Tocqueville Asset Management L.P. is an independently owned investment advisory firm headquartered in New York, NY and founded in 1985. As a private partnership, Tocqueville focuses on the long-term growth and preservation of client capital. The firm is known for its client-first philosophy, eschewing speculative trends in favor of sound, durable investments. With approximately 80 employees, Tocqueville serves high-net-worth individuals, families, institutions, and select pooled vehicles with personalized wealth management and investment advisory services.
Investment Strategy
Tocqueville Asset Management emphasizes long-term capital growth and preservation through a disciplined, value-oriented investment approach. The firm avoids speculation and market fads, favoring fundamental research and investing alongside clients to align interests. Portfolio managers maintain autonomy and do not promote products or services that don't fit clients' needs, ensuring the firm's investment philosophy remains focused on client outcomes and risk management.
Latest 13F Filing Activity
Tocqueville Asset Management L.P. filed their most recent 13F report on Jun 30, 2025 disclosing 525 equity positions and 6 options positions with a total 13F market value of $7B. The fund increased holdings in Rocket Lab Corp., Nvidia Corporation, AT&T Inc. among other positions. Tocqueville Asset Management L.P. reduced exposure to Unitedhealth Group Inc., Salesforce Inc., Rocket Lab USA Inc. among others.
Top Holdings
Equity Positions (525)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
H HD | HOME DEPOT INC | 5.10% | $334.8M | 913,083 | $124.80 | $366.64 | +$11.3M |
M MSFT | MICROSOFT CORP | 3.54% | $232.3M | 467,101 | $41.23 | $497.41 | +$33.0M |
N NVDA | NVIDIA CORPORATION | 3.24% | $212.7M | 1,346,426 | $3.86 | $157.99 | +$44.8M |
A AMZN | AMAZON COM INC | 2.56% | $168.3M | 767,013 | $46.05 | $219.39 | +$12.7M |
A AAPL | APPLE INC | 2.20% | $144.6M | 704,780 | $17.03 | $205.17 | -$23.4M |
Options Positions (6)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
S SPY | SPDR S&P 500 ETF TR | — | Put | $9.3M | 150 | $617.85 | $559.39 | 0 | +$876.9K |
N NVDA | NVIDIA CORPORATION | Bought | Put | $8.3M | 526 | $157.99 | $119.45 | +86 | +$3.5M |
| BERKSHIRE HATHAWAY INC DEL | New | Put | $242.9K | 5 | $485.77 | $485.77 | +5 | +$242.9K | |
K KO | COCA COLA CO | — | Put | $212.3K | 30 | $70.75 | $55.98 | 0 | -$2.6K |
M MA | MASTERCARD INCORPORATED | New | Put | $112.4K | 2 | $561.94 | $561.94 | +2 | +$112.4K |
Industry Allocation
Investment Team (39)
| Name | Role | Location | |
|---|---|---|---|
 | Global Equity Research Analyst, Generalist | NY , United States | |
 | Portfolio Manager | New York, NY , United States | |
 | Managing Director, Winchester Div | New York, NY , United States | |
 | Managing Director | New York, NY , United States | |
D Don Wang | portfolio manager | New York, NY , United States | |
 | Portfolio Manager | New York, NY , United States | |
 | PM | New York, NY , United States | |
 | Senior Equity Analyst | New York, NY , United States | |
 | Portfolio Manager | New York, NY , United States | |
 | Portfolio Manager | Red Bank, NJ , United States |
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