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Bell Bank

520 MAIN AVENUE, FARGO, ND 58103 • 7014513015

Q4 2025 · Filed 2026-01-14
Market Value
$2.3B
+1.3%
Holdings
208
-3
New Purchases
10
Added To
55
Closed
14
Reduced
90
Top 10 Concentration
70.3%
Turnover
11.5%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
RSP 4.81% 2.39% +2.42% $113M
VTV 13.09% 11.76% +1.33% $306M
VUG 12.31% 11.81% +0.51% $288M
JAAA 0.52% 0.20% +0.32% $12M
IEFA 13.22% 13.01% +0.21% $309M
AGG 2.63% 2.44% +0.20% $62M
QQQ 9.28% 9.10% +0.18% $217M
BILS 2.32% 2.17% +0.15% $54M
VMBS 1.70% 1.58% +0.12% $40M
GOOGL 0.56% 0.48% +0.09% $13M
HSY 0.08% 0.00% +0.08% $2M
SPYV 3.84% 3.77% +0.07% $90M
RIO 0.58% 0.52% +0.06% $14M
GOOG 0.47% 0.41% +0.06% $11M
LLY 0.11% 0.06% +0.05% $2M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VYM 0.66% 4.40% -3.74% $15M
VOO 4.00% 4.77% -0.78% $93M
UL 0.00% 0.26% -0.26% $0
EXR 0.00% 0.15% -0.15% $0
VTI 4.79% 4.89% -0.10% $112M
AFL 0.00% 0.10% -0.10% $0
PSA 0.00% 0.09% -0.09% $0
WM 0.00% 0.09% -0.09% $0
ABBV 0.52% 0.60% -0.09% $12M
MCD 0.14% 0.23% -0.09% $3M
INTC 0.02% 0.10% -0.08% $494K
KMB 0.22% 0.29% -0.07% $5M
META 0.57% 0.63% -0.06% $13M
CAG 0.28% 0.32% -0.05% $6M
MSFT 0.83% 0.87% -0.04% $19M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 78.7%
Technology 6.1%
Healthcare 3.0%
Consumer Defensive 2.6%
Communication Services 2.4%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 53 $1.3B 56.0%
Large Cap 143 $964M 41.2%
Mid Cap 6 $64M 2.7%
Small Cap 3 $449K 0.0%
Micro Cap 3 $618K 0.0%

Portfolio Analytics

Avg Market Cap
$311.6B
Median Market Cap
$94.9B
Avg P/E
34.5
Median P/E
26.6
Avg Dividend Yield
0.02%
Avg Beta
0.89
# Stocks
146
# ETFs / Funds
62

Top Holdings (208 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 IEFA 13.22% 3,456,934 $309M $89.46 $9M +16,260 +0.5%
2 VTV 13.09% 1,604,085 $306M $190.99 $35M +147,681 +10.1%
3 VUG 12.31% 590,640 $288M $487.86 $16M +22,343 +3.9%
4 QQQ 9.28% 353,558 $217M $614.31 $7M +3,431 +1.0%
5 RSP 4.81% 587,480 $113M $191.56 $57M +296,939 +102.2%
6 VTI 4.79% 333,970 $112M $335.27 -$885K -9,923 -2.9%
7 VOO 4.00% 149,089 $93M $627.13 -$17M -30,894 -17.2%
8 SPYV 3.84% 1,581,036 $90M $56.81 $3M +9,113 +0.6%
9 AGG 2.63% 616,369 $62M $99.88 $5M +55,463 +9.9%
10 BILS 2.32% 547,342 $54M $99.22 $4M +44,521 +8.8%
11 BIL 1.72% 441,486 $40M $91.38 -$37K +1,374 +0.3%
12 VMBS 1.70% 844,957 $40M $47.08 $3M +66,496 +8.5%
13 NVDA 1.48% 185,480 $35M $186.50 $186K +1,078 +0.6%
14 MSFT 0.83% 40,043 $19M $483.62 -$764K +1,179 +3.0%
15 SPY 0.77% 26,255 $18M $681.92 $233K -271 -1.0%
16 VYM 0.66% 107,334 $15M $143.52 -$86M -613,865 -85.1%
17 AAPL 0.64% 55,187 $15M $271.86 -$647K -6,274 -10.2%
18 AMZN 0.63% 63,828 $15M $230.82 $130K -2,678 -4.0%
19 IBM 0.58% 45,962 $14M $296.21 $678K +114 +0.2%
20 RIO 0.58% 170,052 $14M $80.03 $2M -11,454 -6.3%
21 STX 0.58% 49,368 $14M $275.39 $293K -6,985 -12.4%
22 META 0.57% 20,186 $13M $660.09 -$1M +354 +1.8%
23 GOOGL 0.56% 42,056 $13M $313.00 $2M -3,075 -6.8%
24 CVX 0.54% 83,123 $13M $152.41 $44K +1,823 +2.2%
25 ABBV 0.52% 52,915 $12M $228.49 -$2M -7,333 -12.2%
26 JAAA 0.52% 238,849 $12M $50.58 $8M +149,435 +167.1%
27 XOM 0.49% 96,099 $12M $120.34 $786K +499 +0.5%
28 CSCO 0.49% 148,953 $11M $77.03 $1M -1,761 -1.2%
29 UPS 0.49% 115,625 $11M $99.19 $1M -8,992 -7.2%
30 SO 0.48% 127,901 $11M $87.20 $1M +21,751 +20.5%
31 PFE 0.47% 445,650 $11M $24.90 -$550K -11,444 -2.5%
32 GOOG 0.47% 34,955 $11M $313.80 $2M -3,722 -9.6%
33 ARCC 0.46% 534,586 $11M $20.23 -$7K +4,392 +0.8%
34 VZ 0.45% 259,383 $11M $40.73 -$814K +490 +0.2%
35 TRP 0.43% 184,972 $10M $55.01 $63K -883 -0.5%
36 AMGN 0.42% 29,962 $10M $327.31 $1M -603 -2.0%
37 PRU 0.41% 85,432 $10M $112.88 $668K -1,086 -1.3%
38 GILD 0.40% 76,577 $9M $122.74 $676K -2,008 -2.6%
39 PEP 0.40% 65,356 $9M $143.52 $122K -567 -0.9%
40 ADM 0.40% 161,149 $9M $57.49 -$731K -6,168 -3.7%
41 USB 0.40% 173,472 $9M $53.36 $743K -2,672 -1.5%
42 DUK 0.39% 77,541 $9M $117.21 -$723K -1,743 -2.2%
43 GSK 0.39% 184,200 $9M $49.04 $708K -8,681 -4.5%
44 HBAN 0.39% 519,395 $9M $17.35 -$33K -4,342 -0.8%
45 T 0.35% 327,243 $8M $24.84 -$751K +12,788 +4.1%
46 KHC 0.35% 334,524 $8M $24.25 -$896K -11,406 -3.3%
47 HPE 0.34% 326,718 $8M $24.02 -$168K +326 +0.1%
48 KMI 0.31% 265,786 $7M $27.49 -$201K +588 +0.2%
49 AVGO 0.29% 19,900 $7M $346.10 $645K +978 +5.2%
50 VTRS 0.29% 552,650 $7M $12.45 $1M -34,995 -6.0%
51 CCI 0.28% 73,049 $6M $88.87 -$848K -3,022 -4.0%
52 JPM 0.28% 20,132 $6M $322.22 $152K +50 +0.2%
53 CAG 0.28% 373,277 $6M $17.31 -$978K -33,021 -8.1%
54 V 0.25% 16,803 $6M $350.71 $478K +940 +5.9%
55 DOW 0.25% 246,954 $6M $23.38 $57K -2,352 -0.9%
56 LYB 0.23% 123,703 $5M $43.30 -$664K +942 +0.8%
57 KMB 0.22% 50,771 $5M $100.89 -$2M -2,753 -5.1%
58 TSLA 0.21% 11,031 $5M $449.72 -$47K -229 -2.0%
59 PG 0.18% 29,523 $4M $143.31 -$321K -103 -0.3%
60 TSM 0.17% 12,943 $4M $303.89 $764K +1,597 +14.1%
61 MA 0.16% 6,447 $4M $570.88 $51K +67 +1.1%
62 MCD 0.14% 11,021 $3M $305.63 -$2M -6,445 -36.9%
63 SCHD 0.12% 104,155 $3M $27.43 $1M +36,212 +53.3%
64 LLY 0.11% 2,308 $2M $1,074.68 $1M +542 +30.7%
65 JEPI 0.10% 42,447 $2M $57.24 $225K +3,835 +9.9%
66 BRK-B 0.10% 4,674 $2M $502.65 $2K +5 +0.1%
67 WMT 0.10% 20,968 $2M $111.41 $277K +989 +5.0%
68 SPHQ 0.10% 30,216 $2M $75.05 $139K +1,167 +4.0%
69 VEA 0.10% 36,005 $2M $62.47 $92K
70 SPDW 0.09% 49,351 $2M $44.41 $894K +19,033 +62.8%
71 LOW 0.09% 8,786 $2M $241.16 $256K +1,375 +18.6%
72 HD 0.09% 6,080 $2M $344.10 -$320K +127 +2.1%
73 COST 0.09% 2,395 $2M $862.34 -$8K +155 +6.9%
74 AMD 0.09% 9,499 $2M $214.16 $528K +190 +2.0%
75 NFLX 0.09% 21,296 $2M $93.76 -$516K +19,200 +916.0%
76 KO 0.08% 27,791 $2M $69.91 $128K +427 +1.6%
77 HSY 0.08% 10,299 $2M $181.98 +10,299 NEW
78 FTNT 0.08% 23,014 $2M $79.41 $827K +11,118 +93.5%
79 DFUS 0.08% 23,914 $2M $74.17 $33K -122 -0.5%
80 VGSH 0.08% 29,934 $2M $58.73 -$4K
81 AMAT 0.07% 6,800 $2M $256.99 $339K -82 -1.2%
82 SHV 0.07% 15,497 $2M $110.15 -$5K
83 HEI 0.07% 4,819 $2M $323.59 -$171K -540 -10.1%
84 BSV 0.07% 19,647 $2M $78.81 -$2K
85 IRT 0.07% 88,006 $2M $17.48 $96K
86 ORCL 0.06% 7,475 $1M $194.91 -$690K -158 -2.1%
87 CRM 0.06% 5,431 $1M $264.91 $73K -332 -5.8%
88 PLTR 0.06% 7,646 $1M $177.75 -$36K
89 ADI 0.06% 4,932 $1M $271.20 $56K -284 -5.4%
90 AXP 0.06% 3,583 $1M $369.95 $218K +250 +7.5%
91 MMM 0.05% 7,797 $1M $160.10 -$65K -663 -7.8%
92 BAC 0.05% 20,365 $1M $55.00 $108K +743 +3.8%
93 CAT 0.05% 1,920 $1M $572.87 -$52K -495 -20.5%
94 JNJ 0.05% 5,157 $1M $206.95 $70K -222 -4.1%
95 MU 0.04% 3,657 $1M $285.41 $421K -63 -1.7%
96 UNH 0.04% 3,145 $1M $330.11 -$206K -458 -12.7%
97 ANET 0.04% 7,857 $1M $131.03 -$64K +349 +4.7%
98 FAST 0.04% 25,476 $1M $40.13 -$442K -4,375 -14.7%
99 VGT 0.04% 1,281 $966K $753.78 $9K
100 PH 0.04% 1,096 $963K $878.96 $132K

New Positions

SymbolValue% Port
HSY $2M 0.08%
CMG $542K 0.02%
IJH $246K 0.01%
AFIF $239K 0.01%
WFC $239K 0.01%
REGN $232K 0.01%
FDX $227K 0.01%
DAL $220K 0.01%
VHT $204K 0.01%
OEF $204K 0.01%

Sold Out Positions

SymbolValue% Port
EXR —%
AFL —%
MSI —%
WM —%
DD —%
UL —%
CTVA —%
PSA —%
CMCSA —%
SNPS —%
SLV —%
PALL —%
TTD —%
NINEQ —%
View SEC EDGAR Filings for Bell Bank →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms