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Asset Manager ← All Institutions

Bell Asset Management Ltd

LEVEL 30, 101 COLLINS STREET, MELBOURNE, C3 3000 • 61 3 8637 6000

Q2 2025 · Filed 2025-08-13
Market Value
$454M
-16.6%
Holdings
71
+2
New Purchases
5
Added To
12
Closed
9
Reduced
45
Top 10 Concentration
41.3%
Turnover
19.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
NVDA 7.70% 6.09% +1.61% $35M
MSI 1.39% 0.00% +1.39% $6M
IT 1.05% 0.00% +1.05% $5M
ODFL 1.02% 0.00% +1.02% $5M
AAPL 4.25% 3.24% +1.00% $19M
DECK 0.95% 0.00% +0.95% $4M
META 3.00% 2.08% +0.92% $14M
BF-B 0.86% 0.00% +0.86% $4M
AON 1.97% 1.11% +0.86% $9M
MMC 1.82% 1.21% +0.61% $8M
GOOGL 6.49% 6.06% +0.43% $29M
AMZN 5.20% 4.79% +0.41% $24M
PCTY 1.13% 0.75% +0.38% $5M
LLY 1.95% 1.59% +0.36% $9M
MSCI 1.39% 1.04% +0.35% $6M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ADBE 0.00% 1.77% -1.77% $0
PPG 0.00% 1.15% -1.15% $0
BKNG 0.46% 1.59% -1.12% $2M
ADP 0.00% 1.09% -1.09% $0
NFLX 0.00% 1.01% -1.01% $0
ROK 0.00% 1.00% -1.00% $0
ZBRA 0.00% 0.98% -0.98% $0
YETI 0.00% 0.94% -0.94% $0
EW 0.00% 0.71% -0.71% $0
UNH 1.92% 2.50% -0.58% $9M
QCOM 1.12% 1.68% -0.57% $5M
PEP 1.91% 2.31% -0.40% $9M
MA 1.58% 1.87% -0.30% $7M
V 1.56% 1.85% -0.29% $7M
JNJ 0.80% 1.09% -0.29% $4M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Technology 42.3%
Financial Services 15.6%
Healthcare 12.5%
Consumer Cyclical 11.8%
Communication Services 9.2%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 23 $245M 53.9%
Large Cap 39 $170M 37.6%
Mid Cap 9 $38M 8.5%

Portfolio Analytics

Avg Market Cap
$492.5B
Median Market Cap
$78.5B
Avg P/E
27.7
Median P/E
24.8
Avg Dividend Yield
0.01%
Avg Beta
1.02
# Stocks
71
# ETFs / Funds
0

Top Holdings (71 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NVDA 7.70% 220,967 $35M $157.99 $2M -84,494 -27.7%
2 MSFT 6.87% 62,674 $31M $497.41 -$7M -38,064 -37.8%
3 GOOGL 6.49% 167,030 $29M $176.23 -$4M -46,128 -21.6%
4 AMZN 5.20% 107,539 $24M $219.39 -$2M -29,423 -21.5%
5 AAPL 4.25% 93,859 $19M $205.17 $2M +14,477 +18.2%
6 META 3.00% 18,440 $14M $738.09 $2M -1,137 -5.8%
7 AON 1.97% 25,029 $9M $356.76 $3M +9,912 +65.6%
8 AVGO 1.95% 32,154 $9M $275.65 -$154K -21,705 -40.3%
9 LLY 1.95% 11,354 $9M $779.53 $198K +877 +8.4%
10 FI 1.94% 51,028 $9M $172.41 -$2M +1,513 +3.1%
11 UNH 1.92% 27,982 $9M $311.97 -$5M +2,030 +7.8%
12 PEP 1.91% 65,587 $9M $132.04 -$4M -18,181 -21.7%
13 ORCL 1.86% 38,592 $8M $218.63 -$529K -25,538 -39.8%
14 MMC 1.82% 37,795 $8M $218.64 $2M +10,869 +40.4%
15 ACN 1.64% 24,911 $7M $298.89 -$2M -6,904 -21.7%
16 UBER 1.61% 78,227 $7M $93.30 -$621K -30,462 -28.0%
17 MA 1.58% 12,723 $7M $561.94 -$3M -5,851 -31.5%
18 V 1.56% 19,951 $7M $355.05 -$3M -8,749 -30.5%
19 TSM 1.46% 29,297 $7M $226.49 -$725K -15,043 -33.9%
20 MSI 1.39% 15,001 $6M $420.46 +15,001 NEW
21 MSCI 1.39% 10,911 $6M $576.74 $630K +897 +9.0%
22 CLH 1.33% 26,059 $6M $231.18 -$1M -12,069 -31.6%
23 SCI 1.30% 72,318 $6M $81.40 -$629K -8,927 -11.0%
24 ABC 1.30% 19,591 $6M $299.85 $34K -1,412 -6.7%
25 ANET 1.28% 56,598 $6M $102.31 -$777K -28,161 -33.2%
26 WMS 1.26% 49,688 $6M $114.86 -$1M -13,736 -21.7%
27 VRRM 1.22% 217,675 $6M $25.39 -$695K -58,724 -21.2%
28 HLI 1.22% 30,668 $6M $179.95 -$2M -13,085 -29.9%
29 CNM 1.14% 85,918 $5M $60.35 -$970K -41,489 -32.6%
30 KEYS 1.13% 31,289 $5M $163.86 $267K -1,161 -3.6%
31 PCTY 1.13% 28,172 $5M $181.19 $1M +6,407 +29.4%
32 HCA 1.12% 13,316 $5M $383.10 -$2M -5,838 -30.5%
33 QCOM 1.12% 31,772 $5M $159.26 -$4M -27,769 -46.6%
34 TTC 1.11% 71,154 $5M $70.68 -$1M -16,224 -18.6%
35 SNPS 1.09% 9,608 $5M $512.68 -$312K -2,606 -21.3%
36 ZTS 1.08% 31,271 $5M $155.95 -$2M -8,622 -21.6%
37 MANH 1.06% 24,420 $5M $197.47 -$533K -6,527 -21.1%
38 IT 1.05% 11,782 $5M $404.22 +11,782 NEW
39 TSCO 1.05% 89,984 $5M $52.77 -$2M -30,334 -25.2%
40 SPGI 1.04% 8,973 $5M $527.29 -$1M -2,422 -21.2%
41 ODFL 1.02% 28,487 $5M $162.30 +28,487 NEW
42 G 1.01% 104,377 $5M $44.01 -$208K +9,063 +9.5%
43 CAT 1.01% 11,831 $5M $388.21 -$348K -3,150 -21.0%
44 BR 0.98% 18,378 $4M $243.03 -$862K -3,597 -16.4%
45 HD 0.97% 11,956 $4M $366.64 -$1M -3,312 -21.7%
46 BJ 0.95% 40,089 $4M $107.83 -$161K +790 +2.0%
47 DECK 0.95% 41,766 $4M $103.07 +41,766 NEW
48 POOL 0.94% 14,591 $4M $291.48 -$733K -1,071 -6.8%
49 IDXX 0.89% 7,515 $4M $536.34 -$2M -7,208 -49.0%
50 JKHY 0.87% 21,997 $4M $180.17 $100K +839 +4.0%
51 TMO 0.87% 9,740 $4M $405.46 -$655K +488 +5.3%
52 BF-B 0.86% 145,583 $4M $26.91 +145,583 NEW
53 CSCO 0.86% 56,258 $4M $69.38 -$2M -39,997 -41.5%
54 AXP 0.83% 11,843 $4M $318.98 -$2M -8,157 -40.8%
55 MTD 0.82% 3,152 $4M $1,174.72 -$1M -847 -21.2%
56 VEEV 0.81% 12,806 $4M $287.98 -$877K -6,903 -35.0%
57 JNJ 0.80% 23,871 $4M $152.75 -$2M -11,915 -33.3%
58 MCO 0.78% 7,035 $4M $501.59 -$656K -1,950 -21.7%
59 LULU 0.65% 12,403 $3M $237.58 -$2M -5,433 -30.5%
60 COST 0.62% 2,849 $3M $989.94 -$643K -813 -22.2%
61 AMGN 0.55% 8,964 $3M $279.21 -$505K -690 -7.2%
62 BKNG 0.46% 362 $2M $5,789.24 -$7M -1,510 -80.7%
63 YETI —% -$5M -155,001 -100.0% SOLD
64 NFLX —% -$5M -5,866 -100.0% SOLD
65 ROK —% -$5M -21,015 -100.0% SOLD
66 KO —% -$1M -15,811 -100.0% SOLD
67 ADBE —% -$10M -25,069 -100.0% SOLD
68 ZBRA —% -$5M -18,867 -100.0% SOLD
69 PPG —% -$6M -57,239 -100.0% SOLD
70 EW —% -$4M -53,202 -100.0% SOLD
71 ADP —% -$6M -19,462 -100.0% SOLD

New Positions

SymbolValue% Port
MSI $6M 1.39%
IT $5M 1.05%
ODFL $5M 1.02%
DECK $4M 0.95%
BF-B $4M 0.86%

Sold Out Positions

SymbolValue% Port
YETI —%
KO —%
ROK —%
EW —%
PPG —%
ADP —%
ADBE —%
ZBRA —%
NFLX —%
View SEC EDGAR Filings for Bell Asset Management Ltd →

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