BERTHEL, FISHER & COMPANY FINANCIAL SERVICES, INC.
Long book
$740.5M
Q1 2026
Positions
2455
Top-10 weight
27%
concentration
Last quarter
+16.5%
SPY +16.5%
Turnover
18%
of book per quarter
Strategy in plain words
auto-generated from filingsBERTHEL, FISHER & COMPANY FINANCIAL SERVICES, INC. is an institutional manager, running a $740.5M US long book across 2455 positions.
The portfolio is moderately concentrated (top 10 ≈ 27% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: NVIDIA CORP, APPLE INC, TAIWAN SEMICONDUCTOR-SP ADR, INVESCO QQQ TRUST SERIES 1, SS SPDR S&P 500 ETF TRUST-US.
Over the last 7 quarters its long book ran on average 0.4pp per quarter ahead of the S&P 500, beating the index in 3 of 7 quarters.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q3 2024
+2.2%
Q4 2024
-4.4%
Q1 2025
+11.2%
Q2 2025
+8.8%
Q3 2025
+1.9%
Q4 2025
-1.6%
Q1 2026
+16.5%
Sector allocation
Technology 50%
Industrials 9%
Financials 9%
Consumer discretionary 7%
Utilities 6%
Healthcare 5%
Energy 4%
Services media 4%
Long book by quarter
What does BERTHEL, FISHER own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 393.8K | $68.7M | 9.3% | -0.6% |
| AAPL APPLE INC | Technology | 133.1K | $33.8M | 4.6% | -2.4% |
| MSFT MICROSOFT CORP | Technology | 29.1K | $10.8M | 1.5% | +0.2% |
| PLTR PALANTIR TECHNOLOGIES INC-A | Technology | 63.4K | $9.3M | 1.3% | +11.6% |
| AMZN AMAZON.COM INC | Consumer discretionary | 41.7K | $8.7M | 1.2% | -3.9% |
| GOOGL ALPHABET INC-CL A | Technology | 26.1K | $7.5M | 1.0% | +0.2% |
| AVGO BROADCOM INC | Technology | 21.9K | $6.8M | 0.9% | -1.0% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 13.2K | $6.3M | 0.9% | -1.0% |
| BX BLACKSTONE INC | Financials | 49.0K | $5.6M | 0.8% | -0.2% |
| GOOG ALPHABET INC-CL C | Technology | 19.3K | $5.5M | 0.7% | -3.8% |
| CVX CHEVRON CORP | Energy | 20.5K | $4.2M | 0.6% | -0.3% |
| META META PLATFORMS INC-CLASS A | Technology | 7.3K | $4.2M | 0.6% | -3.4% |
| ABBV ABBVIE INC | Healthcare | 19.1K | $4.1M | 0.6% | -5.7% |
| XOM EXXON MOBIL CORP | Energy | 23.9K | $4.1M | 0.5% | -10.2% |
| TSLA TESLA INC | Industrials | 9.8K | $3.6M | 0.5% | -18.0% |
| CRWD CROWDSTRIKE HOLDINGS INC - A | Technology | 8.9K | $3.5M | 0.5% | -0.3% |
| APG API GROUP CORP | Services media | 84.7K | $3.4M | 0.5% | +7.3% |
| WMT WALMART INC | Consumer discretionary | 25.5K | $3.2M | 0.4% | -0.9% |
| LLY ELI LILLY & CO | Healthcare | 3.2K | $2.9M | 0.4% | +3.1% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 2.7K | $2.7M | 0.4% | -2.9% |
| PG PROCTER & GAMBLE CO/THE | Other | 18.1K | $2.6M | 0.4% | -1.8% |
| PANW PALO ALTO NETWORKS INC | Technology | 15.5K | $2.5M | 0.3% | +33.9% |
| CAT CATERPILLAR INC | Industrials | 3.5K | $2.5M | 0.3% | -3.0% |
| AMD ADVANCED MICRO DEVICES | Technology | 11.7K | $2.4M | 0.3% | +3.9% |
| EPD ENTERPRISE PRODUCTS PARTNERS | Utilities | 59.9K | $2.3M | 0.3% | +0.1% |
| CNQ CANADIAN NATURAL RESOURCES | Energy | 45.8K | $2.2M | 0.3% | -8.2% |
| JNJ JOHNSON & JOHNSON | Healthcare | 8.8K | $2.1M | 0.3% | -4.9% |
| OKE ONEOK INC | Utilities | 22.6K | $2.0M | 0.3% | +87.9% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 40.3K | $2.0M | 0.3% | -10.2% |
| HD HOME DEPOT INC | Consumer discretionary | 5.7K | $1.9M | 0.3% | -1.4% |
| T AT&T INC | Communications | 64.6K | $1.9M | 0.3% | -10.0% |
| WMB WILLIAMS COS INC | Utilities | 25.6K | $1.9M | 0.3% | +0.1% |
| V VISA INC-CLASS A SHARES | Services media | 5.9K | $1.8M | 0.2% | -16.7% |
| GEV GE VERNOVA INC | Industrials | 1.8K | $1.6M | 0.2% | +0.7% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 6.6K | $1.6M | 0.2% | -5.9% |
| JPM JPMORGAN CHASE & CO | Financials | 5.0K | $1.5M | 0.2% | +0.8% |
| DTE DTE ENERGY COMPANY | Utilities | 10.0K | $1.5M | 0.2% | -19.2% |
| URI UNITED RENTALS INC | Services media | 1.9K | $1.4M | 0.2% | -4.3% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Oct 30, 2026 | 2458 | $740.6M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Oct 30, 2026 | 2673 | $759.2M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 30, 2026 | 2424 | $706.1M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Oct 30, 2026 | 2348 | $637.8M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Oct 30, 2026 | 2255 | $602.8M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Oct 30, 2026 | 2096 | $590.7M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 30, 2026 | 2170 | $633.0M | canonical | SEC ↗ |