Bell Bank
Long book
$2.36B
Q1 2026
Positions
188
Top-10 weight
70%
concentration
Last quarter
+11.5%
SPY +14.8%
Turnover
12%
of book per quarter
Strategy in plain words
auto-generated from filingsBell Bank is a wealth-management firm allocating client money, running a $2.36B US long book across 188 positions.
The portfolio is concentrated: the top 10 names carry 70% of the portfolio. Turnover is modest: positions are typically held for years. Current anchor positions: ISHARES CORE MSCI EAFE ETF, VANGUARD VALUE ETF, VANGUARD GROWTH ETF, INVESCO QQQ TRUST SERIES 1, INVESCO S&P 500 EQUAL WEIGHT.
Over the last 9 quarters its long book ran on average 0.5pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+1.8%
Q2 2024
+6.3%
Q3 2024
-0.7%
Q4 2024
+0.2%
Q1 2025
+8.6%
Q2 2025
+6.5%
Q3 2025
+2.7%
Q4 2025
-0.8%
Q1 2026
+11.5%
Sector allocation
Technology 30%
Healthcare 12%
Other 10%
Utilities 9%
Consumer staples 8%
Energy 6%
Financials 6%
Consumer discretionary 6%
Long book by quarter
What does Bell Bank own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 186.5K | $32.5M | 1.4% | +0.6% |
| CVX CHEVRON CORP | Energy | 82.4K | $17.1M | 0.7% | -0.8% |
| MSFT MICROSOFT CORP | Technology | 45.1K | $16.7M | 0.7% | +12.6% |
| XOM EXXON MOBIL CORP | Energy | 94.8K | $16.1M | 0.7% | -1.4% |
| AAPL APPLE INC | Technology | 55.1K | $14.0M | 0.6% | -0.1% |
| STXN SEAGATE TECHNOLOGY HOLDINGS | — | 35.7K | $14.0M | 0.6% | -27.7% |
| AMZN AMAZON.COM INC | Consumer discretionary | 65.4K | $13.6M | 0.6% | +2.4% |
| PFE PFIZER INC | Healthcare | 472.9K | $13.3M | 0.6% | +6.1% |
| SO SOUTHERN CO/THE | Utilities | 131.1K | $12.7M | 0.5% | +2.5% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 246.3K | $12.4M | 0.5% | -5.0% |
| META META PLATFORMS INC-CLASS A | Technology | 21.3K | $12.2M | 0.5% | +5.5% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 50.3K | $12.2M | 0.5% | +9.4% |
| ADM ARCHER-DANIELS-MIDLAND CO | Consumer staples | 163.2K | $11.9M | 0.5% | +1.3% |
| ABBV ABBVIE INC | Healthcare | 53.7K | $11.7M | 0.5% | +1.4% |
| GOOGL ALPHABET INC-CL A | Technology | 40.5K | $11.6M | 0.5% | -3.7% |
| AMGN AMGEN INC | Healthcare | 32.3K | $11.4M | 0.5% | +7.7% |
| TRP TC ENERGY CORP | Utilities | 180.9K | $11.3M | 0.5% | -2.2% |
| CSCO CISCO SYSTEMS INC | Technology | 145.2K | $11.3M | 0.5% | -2.5% |
| UPS UNITED PARCEL SERVICE-CL B | Industrials | 110.1K | $10.8M | 0.5% | -4.8% |
| GILD GILEAD SCIENCES INC | Healthcare | 76.7K | $10.7M | 0.5% | +0.1% |
| DUK DUKE ENERGY CORP | Utilities | 79.7K | $10.4M | 0.4% | +2.8% |
| KMB KIMBERLY-CLARK CORP | Other | 105.3K | $10.2M | 0.4% | +107.3% |
| PEP PEPSICO INC | Consumer staples | 65.4K | $10.2M | 0.4% | 0.0% |
| GOOG ALPHABET INC-CL C | Technology | 33.4K | $9.6M | 0.4% | -4.5% |
| LYB LYONDELLBASELL INDU-CL A | Other | 118.0K | $9.5M | 0.4% | -4.6% |
| T AT&T INC | Communications | 326.7K | $9.5M | 0.4% | -0.2% |
| PRU PRUDENTIAL FINANCIAL INC | Financials | 96.8K | $9.5M | 0.4% | +13.3% |
| ARCC ARES CAPITAL CORP | — | 517.3K | $9.3M | 0.4% | -3.2% |
| DOW DOW INC | Materials | 215.2K | $9.0M | 0.4% | -12.9% |
| KMI KINDER MORGAN INC | Utilities | 260.1K | $8.7M | 0.4% | -2.1% |
| HPE HEWLETT PACKARD ENTERPRISE | Technology | 346.1K | $8.2M | 0.3% | +5.9% |
| KHC KRAFT HEINZ CO/THE | Consumer staples | 338.1K | $7.6M | 0.3% | +1.1% |
| VTRS VIATRIS INC | Healthcare | 536.0K | $7.2M | 0.3% | -3.0% |
| AVGO BROADCOM INC | Technology | 21.3K | $6.6M | 0.3% | +6.8% |
| JPM JPMORGAN CHASE & CO | Financials | 20.7K | $6.1M | 0.3% | +2.8% |
| BX BLACKSTONE INC | Financials | 52.9K | $6.1M | 0.3% | New |
| BXSL BLACKSTONE SECURED LENDING F | — | 232.9K | $5.5M | 0.2% | New |
| SWKS SKYWORKS SOLUTIONS INC | Technology | 101.7K | $5.4M | 0.2% | New |
| CAG CONAGRA BRANDS INC | Consumer staples | 342.7K | $5.4M | 0.2% | -8.2% |
| GIS GENERAL MILLS INC | Consumer staples | 141.2K | $5.3M | 0.2% | New |
| V VISA INC-CLASS A SHARES | Services media | 17.3K | $5.2M | 0.2% | +3.0% |
| PG PROCTER & GAMBLE CO/THE | Other | 29.2K | $4.2M | 0.2% | -1.3% |
| TSLA TESLA INC | Industrials | 11.1K | $4.1M | 0.2% | +1.0% |
| MCD MCDONALD'S CORP | Consumer discretionary | 11.7K | $3.7M | 0.2% | +6.6% |
| ORCL ORACLE CORP | Technology | 20.6K | $3.0M | 0.1% | +176.2% |
| MA MASTERCARD INC - A | Services media | 5.4K | $2.7M | 0.1% | -15.8% |
| WMT WALMART INC | Consumer discretionary | 21.4K | $2.7M | 0.1% | +2.1% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 2.5K | $2.5M | 0.1% | +5.2% |
| UBER UBER TECHNOLOGIES INC | Services media | 32.0K | $2.3M | 0.1% | +1155.2% |
| KO COCA-COLA CO/THE | Consumer staples | 29.4K | $2.2M | 0.1% | +5.9% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 23, 2026 | 232 | $2.36B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 14, 2026 | 236 | $2.34B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 21, 2025 | 271 | $2.31B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 11, 2025 | 272 | $2.15B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 18, 2025 | 261 | $1.85B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 3, 2025 | 262 | $1.34B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 6, 2024 | 242 | $845.2M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 31, 2024 | 188 | $1.19B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 23, 2024 | 184 | $1.16B | canonical | SEC ↗ |