Bearing Point Capital, LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 7, 2025), Bearing Point Capital, LLC reported 159 stock positions worth $469.5 million. Its top holding was Apple (AAPL) at 4.5% of the portfolio, followed by Nvidia (NVDA, 4.4%) and Microsoft (MSFT, 2.7%). Compared with Q4 2024, it opened 15 new positions, sold out of 17, added to 79 and reduced 36. The biggest buy was Vaneck Junior Gold Miners (GDXJ, shares +316%) and the biggest sale an exit from Houlihan Lokey (HLI).

Most Recent 13F
Q2 2026
Location
BLOOMINGTON, MN
CIK
0002052916
Portfolio Value
$469.5M (Q1 2025)
SEC Filing
0001765380-25-000181 ↗ filed May 7, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q4 2024: $479.1M Q4 2024 Q1 2025: $469.5M $469.5M Q1 2025 Q2 2025: $542.8M Q2 2025 Q3 2025: $580.4M Q3 2025 Q4 2025: $639.1M Q4 2025 Q1 2026: $637.8M Q1 2026 Q2 2026: $739.8M Q2 2026

Holdings 159 stocks · $469.5M
AAPL Apple Inc. 4.55% 96,179 $21.4M Reduce -4.2%
NVDA Nvidia Corp. 4.41% 190,891 $20.7M Reduce -6.0%
MSFT Microsoft Corp. 2.73% 34,097 $12.8M Add +0.4%
V Visa Inc. Class A 2.68% 35,932 $12.6M Add +1.9%
JPM JPMorgan Chase & Co. 2.38% 45,468 $11.2M Add +9.9%
AMZN Amazon.com Inc. 2.29% 56,499 $10.7M Add +3.2%
PANW Palo Alto Networks Inc. 2.19% 60,287 $10.3M Add +24.3%
UNH Unitedhealth Group Inc. 2.15% 19,250 $10.1M Add +9.1%
ADM Archer-Daniels-Midland Co. 1.94% 190,000 $9.1M No change
GDXJ Vaneck Junior Gold Miners 1.83% 149,967 $8.6M Add +316.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.77% 199,139 $8.3M Add +1.9%
AVGO Broadcom Inc. 1.67% 46,848 $7.8M Reduce -8.6%
CVX Chevron Corp. 1.61% 45,296 $7.6M Add +4.4%
MDY State Street SPDR S&P Midcap 1.60% 14,062 $7.5M Reduce -2.0%
CME Cme Group Inc. 1.59% 28,207 $7.5M Reduce -17.8%
AXP American Express Co. 1.59% 27,713 $7.5M Add +1.8%
DHR Danaher Corp. 1.55% 35,510 $7.3M Add +6.5%
OWL Blue Owl Capital Inc. 1.54% 360,916 $7.2M Add +26.7%
HWM Howmet Aerospace Inc. 1.54% 55,711 $7.2M Reduce -20.0%
SYK Stryker Corp. 1.49% 18,855 $7.0M Add +3.9%
VEEV Veeva Systems Inc. Class A 1.49% 30,223 $7.0M New
ACN Accenture PLC Class A 1.49% 22,370 $7.0M Add +2.8%
ECL Ecolab Inc. 1.46% 27,041 $6.9M Reduce -20.1%
RODM Hartford Multifact Dev MRKT 1.41% 213,181 $6.6M Add +8.0%
SHY iShares 1-3 Year Treasury Bo 1.40% 79,540 $6.6M Reduce -34.9%
CB Chubb Ltd. 1.38% 21,488 $6.5M Add +2.9%
SU Suncor Energy Inc. 1.37% 165,616 $6.4M Add +3.8%
GOOGL Alphabet Inc. Class A 1.25% 38,025 $5.9M Add +8.0%
TT Trane Technologies PLC 1.24% 17,344 $5.8M Add +3.6%
INDA iShares MSCI India ETF 1.24% 113,356 $5.8M Reduce -1.1%
DXJ Wisdomtree Japan Hedged Eq 1.23% 52,593 $5.8M Add +4.0%
CTVA Corteva Inc. 1.22% 90,952 $5.7M Add +23.8%
AEP American Electric Power 1.15% 49,216 $5.4M Reduce -12.6%
DELL Dell Technologies -C 1.13% 58,439 $5.3M Add +5.3%
VEA Vanguard Ftse Developed ETF 1.10% 101,622 $5.2M Reduce -3.0%
EMBJ Embraer SA-Spon ADR 1.09% 111,043 $5.1M Reduce -30.4%
BHP BHP Group Ltd.-Spon ADR 1.09% 105,624 $5.1M Add +4.6%
XBI SS SPDR S&P Biotech ETF 1.02% 59,155 $4.8M Add +1.9%
CEG Constellation Energy 1.01% 23,582 $4.8M Add +2.3%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.95% 17,245 $4.5M Add +11.3%
HON Honeywell International Inc. 0.94% 20,734 $4.4M Reduce -2.6%
NOC Northrop Grumman Corp. 0.93% 8,531 $4.4M Add +5.5%
MA Mastercard Inc. Class A 0.93% 7,933 $4.3M Add +1.6%
NET Cloudflare Inc. Class A 0.89% 37,224 $4.2M Add +30.4%
APTV Aptiv PLC 0.85% 67,386 $4.0M Add +44.4%
VGSH Vanguard Short-Term Treasury 0.84% 67,332 $4.0M Reduce -41.7%
GOOG Alphabet Inc. Class C 0.83% 25,073 $3.9M Reduce -0.6%
KKR KKR & Co. Inc. 0.82% 33,476 $3.9M Add +14.0%
MELI MercadoLibre Inc. 0.82% 1,965 $3.8M Add +221.6%
RSG Republic Services Inc. 0.79% 15,391 $3.7M New
SPOT Spotify Technology SA 0.75% 6,390 $3.5M New
TM Toyota Motor Corp. -Spon ADR 0.71% 18,797 $3.3M Add +11.5%
FTV Fortive Corp. 0.70% 44,950 $3.3M Add +0.8%
NEM Newmont Corp. 0.68% 66,242 $3.2M Add +7.9%
ABBV Abbvie Inc. 0.67% 15,110 $3.2M Reduce -5.9%
SPY SS SPDR S&P 500 ETF Trust-US 0.61% 5,158 $2.9M Add +2.1%
HD Home Depot Inc. 0.61% 7,847 $2.9M Add +3.0%
IVV iShares Core S&P 500 ETF 0.58% 4,819 $2.7M Add +4.0%
IEFA iShares Core MSCI Eafe ETF 0.56% 34,600 $2.6M No change
ETN Eaton Corp. PLC 0.53% 9,226 $2.5M Add +12.8%
ZTS Zoetis Inc. 0.50% 14,279 $2.4M Add +898.5%
USB US Bancorp 0.49% 54,272 $2.3M Add +11.5%
LLY Eli Lilly & Co. 0.48% 2,723 $2.2M Add +9.5%
NVT Nvent Electric PLC 0.48% 42,870 $2.2M Reduce -32.5%
CP Canadian Pacific Kansas City 0.47% 31,445 $2.2M Add +26.6%
VIS Vanguard Industrials ETF 0.47% 8,830 $2.2M New
IWF iShares Russell 1000 Growth 0.42% 5,488 $2.0M No change
COST Costco Wholesale Corp. 0.42% 2,082 $2.0M Add +9.1%
BRK.B Berkshire Hathaway Inc. Class B 0.42% 3,669 $2.0M Reduce -5.9%
ENB Enbridge Inc. 0.41% 43,745 $1.9M Add +2.7%
JNJ Johnson & Johnson 0.40% 11,187 $1.9M Reduce -7.9%
FNDX Schwab Fndmntl US LRG Co. ETF 0.37% 73,446 $1.7M No change
NEE Nextera Energy Inc. 0.34% 22,286 $1.6M Add +1.6%
COP Conocophillips 0.32% 14,518 $1.5M Add +5.7%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.30% 5,470 $1.4M Reduce -12.2%
LMT Lockheed Martin Corp. 0.30% 3,109 $1.4M Add +8.6%
CRVL Corvel Corp. 0.29% 12,000 $1.3M No change
PFE Pfizer Inc. 0.28% 52,140 $1.3M Add +5.4%
INDY iShares India 50 ETF 0.28% 25,940 $1.3M New
IJH iShares Core S&P Midcap ETF 0.27% 21,805 $1.3M No change
KO The Coca-Cola Co. 0.27% 17,620 $1.3M Reduce -2.8%
XOM Exxon Mobil Corp. 0.25% 10,035 $1.2M Add +1.0%
TIP iShares Tips Bond ETF 0.25% 10,410 $1.2M Reduce -8.8%
VRT Vertiv Holdings Co. Class A 0.23% 15,246 $1.1M Add +88.1%
MCD McDonald's Corp. 0.23% 3,470 $1.1M Add +22.6%
GLW Corning Inc. 0.23% 23,480 $1.1M Add +22.1%
IBIT iShares Bitcoin Trust ETF 0.22% 22,020 $1.0M Add +36.9%
IJR iShares Core S&P Small-Cap E 0.22% 9,795 $1.0M No change
XLK SS Technology Select Sector 0.21% 4,879 $1.0M No change
AIRR First Trust Rba American Ind 0.21% 14,281 $974K Add +53.0%
AZN Astrazeneca PLC-Spons ADR 0.20% 13,022 $957K Add +14.2%
LNC Lincoln National Corp. 0.20% 25,900 $930K Add +6.4%
EMN Eastman Chemical Co. 0.20% 10,410 $917K Add +3.6%
DUK Duke Energy Corp. 0.20% 7,505 $915K Add +3.5%
OKE Oneok Inc. 0.18% 8,626 $856K Add +29.6%
IUSG iShares Core S&P U.S. Growth 0.18% 6,700 $851K No change
IWP iShares Russell Mid-Cap Grow 0.17% 6,783 $797K No change
D Dominion Energy Inc. 0.16% 13,300 $746K Add +40.0%
VB Vanguard Most SM-Cap ETF-Usd 0.16% 3,311 $734K Reduce -5.3%
MDT Medtronic PLC 0.15% 8,000 $719K Reduce -7.3%
TGT Target Corp. 0.15% 6,775 $707K Reduce -4.8%
XEXGX Eaton Vance Tax-Managed Glob 0.15% 86,000 $700K No change
AR Antero Resources Corp. 0.14% 16,735 $677K Add +11.5%
TRU Transunion 0.14% 8,041 $667K New
SWK Stanley Black & Decker Inc. 0.14% 8,615 $662K Reduce -43.7%
FCX Freeport-McMoran Inc. 0.14% 17,322 $656K Add +204.3%
MS Morgan Stanley 0.14% 5,603 $654K Reduce -4.4%
T AT&T Inc. 0.13% 22,396 $633K Add +2.7%
GLD SPDR Gold Shares 0.13% 2,155 $621K Add +16.8%
OPPJ Wisdomtree Japan Opportuniti 0.13% 17,735 $621K Add +12.8%
TSLA Tesla Inc. 0.13% 2,385 $618K Reduce -2.6%
IWM iShares Russell 2000 ETF 0.13% 3,082 $615K No change
EQIX Equinix Inc. 0.13% 744 $607K Reduce -5.5%
SPG Simon Property Group Inc. 0.12% 3,532 $587K No change
PG The Procter & Gamble Co. 0.12% 3,324 $566K Reduce -4.3%
FE Firstenergy Corp. 0.12% 14,000 $566K Add +35.9%
VOO Vanguard S&P 500 ETF 0.12% 1,100 $565K No change
IWR iShares Russell Mid-Cap ETF 0.12% 6,635 $564K Add +3.5%
RF Regions Financial Corp. 0.12% 25,000 $543K No change
CCI Crown Castle Inc. 0.12% 5,200 $542K No change
EIX Edison International 0.11% 8,900 $524K Add +53.5%
TRV The Travelers Cos Inc. 0.11% 1,973 $522K Add +2.0%
ABT Abbott Laboratories 0.11% 3,869 $513K Add +3.9%
DCI Donaldson Co. Inc. 0.11% 7,603 $510K Reduce -0.3%
TX Ternium SA-Sponsored ADR 0.10% 15,800 $492K No change
GILD Gilead Sciences Inc. 0.10% 4,300 $482K Reduce -32.5%
IWO iShares Russell 2000 Growth 0.10% 1,876 $479K Add +2.2%
HRL Hormel Foods Corp. 0.10% 14,690 $455K No change
DEO Diageo PLC-Sponsored ADR 0.10% 4,290 $450K Reduce -85.0%
CNQ Canadian Natural Resources 0.09% 14,422 $444K No change
CG The Carlyle Group Inc. 0.09% 9,785 $427K Add +2.3%
NSC Norfolk Southern Corp. 0.09% 1,775 $420K Add +2.6%
TEAM Atlassian Corp. Class A 0.07% 1,600 $340K New
UEC Uranium Energy Corp. 0.07% 70,175 $335K Add +489.5%
IBB iShares Biotechnology ETF 0.07% 2,500 $320K New
IWS iShares Russell Mid-Cap Valu 0.07% 2,500 $315K No change
PHYS Sprott Physical Gold Trust 0.07% 13,000 $313K No change
QQQ Invesco QQQ Trust Series 1 0.07% 655 $307K Reduce -11.5%
RTX RTX Corp. 0.06% 2,290 $303K Add +3.5%
EFA iShares MSCI Eafe ETF 0.06% 3,602 $294K Reduce -1.9%
EXC Exelon Corp. 0.06% 6,350 $293K Add +2.8%
IWN iShares Russell 2000 Value E 0.06% 1,878 $284K Add +5.3%
WMT Walmart Inc. 0.05% 2,917 $256K No change
MPC Marathon Petroleum Corp. 0.05% 1,720 $251K New
WCN Waste Connections Inc. 0.05% 1,275 $249K New
NOW ServiceNow Inc. 0.05% 310 $247K No change
BP BP PLC-Spons ADR 0.05% 7,200 $243K New
XLF SS Financial Select Sector 0.05% 4,868 $242K No change
WES Western Midstream Partners L 0.05% 5,800 $238K New
USFR Wisdomtree Floating Rate Tre 0.05% 4,684 $236K Add +17.8%
XLI SS Industrial Select Sector 0.05% 1,750 $229K No change
RIO Rio Tinto PLC-Spon ADR 0.05% 3,800 $228K New
WMB Williams Cos Inc. 0.05% 3,800 $227K No change
IWB iShares Russell 1000 ETF 0.05% 730 $224K No change
TSCO Tractor Supply Company 0.05% 4,000 $220K No change
VTI VG Morningstar TS MKT ETF-US 0.05% 785 $216K Reduce -3.7%
PEP Pepsico Inc. 0.04% 1,400 $210K No change
ETHA iShares Ethereum Trust ETF 0.03% 10,525 $145K New
PLUG Plug Power Inc. 0.01% 40,450 $55K New
Other holdings (1): bonds, preferreds, convertibles and warrants · $558K (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 465$558KNo change

Total filed on the 13F, all lines: $470.1M.

Portfolio Sells Q4 2024 → Q1 2025
HLI Houlihan Lokey Inc. Sold out 0.00% −1.60
NVDA Nvidia Corp. Reduce -6.0% 4.41% −1.28
AVGO Broadcom Inc. Reduce -8.6% 1.67% −0.81
AAPL Apple Inc. Reduce -4.2% 4.55% −0.70
SHY iShares 1-3 Year Treasury Bo Reduce -34.9% 1.40% −0.69
DEO Diageo PLC-Sponsored ADR Reduce -85.0% 0.10% −0.66
DDOG Datadog Inc. Class A Sold out 0.00% −0.58
VGSH Vanguard Short-Term Treasury Reduce -41.7% 0.84% −0.56
RING iShares MSCI Global Gold Min Sold out 0.00% −0.53
VXF Vanguard Extended Market ETF Sold out 0.00% −0.44
VCR Vanguard Consumer Discre ETF Sold out 0.00% −0.43
NVT Nvent Electric PLC Reduce -32.5% 0.48% −0.43
SHV iShares 0-1 Year Treasury Bo Sold out 0.00% −0.36
ECL Ecolab Inc. Reduce -20.1% 1.46% −0.20
GOOG Alphabet Inc. Class C Reduce -0.6% 0.83% −0.17
EMBJ Embraer SA-Spon ADR Reduce -30.4% 1.09% −0.13
SWK Stanley Black & Decker Inc. Reduce -43.7% 0.14% −0.12
XLP SS Consumer Staples Sel Sect Sold out 0.00% −0.11
MDY State Street SPDR S&P Midcap Reduce -2.0% 1.60% −0.11
AGX Argan Inc. Sold out 0.00% −0.09
TSLA Tesla Inc. Reduce -2.6% 0.13% −0.07
CME Cme Group Inc. Reduce -17.8% 1.59% −0.07
XLE SS Energy Select Sector Sold out 0.00% −0.07
HON Honeywell International Inc. Reduce -2.6% 0.94% −0.07
SCCO Southern Copper Corp. Sold out 0.00% −0.05
TMO Thermo Fisher Scientific Inc. Sold out 0.00% −0.05
VWO Vanguard Ftse Emerging Marke Sold out 0.00% −0.05
MRK Merck & Co. Inc. Sold out 0.00% −0.05
CSCO Cisco Systems Inc. Sold out 0.00% −0.05
VV Vngrd Mrgstr LRG-Cap ETF-Usd Reduce -12.2% 0.30% −0.05
TGT Target Corp. Reduce -4.8% 0.15% −0.05
HWM Howmet Aerospace Inc. Reduce -20.0% 1.54% −0.05
CRM Salesforce Inc. Sold out 0.00% −0.05
XLY SS Consumer Disc Select Sect Sold out 0.00% −0.04
DGII Digi International Inc. Sold out 0.00% −0.04
EQIX Equinix Inc. Reduce -5.5% 0.13% −0.03
GILD Gilead Sciences Inc. Reduce -32.5% 0.10% −0.02
VB Vanguard Most SM-Cap ETF-Usd Reduce -5.3% 0.16% −0.02
INDA iShares MSCI India ETF Reduce -1.1% 1.24% −0.02
MS Morgan Stanley Reduce -4.4% 0.14% −0.01
QQQ Invesco QQQ Trust Series 1 Reduce -11.5% 0.07% −0.01
TIP iShares Tips Bond ETF Reduce -8.8% 0.25% −0.01
VTI VG Morningstar TS MKT ETF-US Reduce -3.7% 0.05% −0.00
PG The Procter & Gamble Co. Reduce -4.3% 0.12% −0.00
DCI Donaldson Co. Inc. Reduce -0.3% 0.11% +0.00
EFA iShares MSCI Eafe ETF Reduce -1.9% 0.06% +0.00
MDT Medtronic PLC Reduce -7.3% 0.15% +0.01
JNJ Johnson & Johnson Reduce -7.9% 0.40% +0.03
KO The Coca-Cola Co. Reduce -2.8% 0.27% +0.03
BRK.B Berkshire Hathaway Inc. Class B Reduce -5.9% 0.42% +0.05

Portfolio Buys Q4 2024 → Q1 2025
GDXJ Vaneck Junior Gold Miners Add +316.3% 1.83% +1.51
VEEV Veeva Systems Inc. Class A New 1.49% +1.49
RSG Republic Services Inc. New 0.79% +0.79
SPOT Spotify Technology SA New 0.75% +0.75
MELI MercadoLibre Inc. Add +221.6% 0.82% +0.60
VIS Vanguard Industrials ETF New 0.47% +0.47
ZTS Zoetis Inc. Add +898.5% 0.50% +0.45
V Visa Inc. Class A Add +1.9% 2.68% +0.35
PANW Palo Alto Networks Inc. Add +24.3% 2.19% +0.35
CTVA Corteva Inc. Add +23.8% 1.22% +0.35
JPM JPMorgan Chase & Co. Add +9.9% 2.38% +0.31
CVX Chevron Corp. Add +4.4% 1.61% +0.30
UNH Unitedhealth Group Inc. Add +9.1% 2.15% +0.28
INDY iShares India 50 ETF New 0.28% +0.28
APTV Aptiv PLC Add +44.4% 0.85% +0.26
NET Cloudflare Inc. Class A Add +30.4% 0.89% +0.25
RODM Hartford Multifact Dev MRKT Add +8.0% 1.41% +0.24
NEM Newmont Corp. Add +7.9% 0.68% +0.20
CB Chubb Ltd. Add +2.9% 1.38% +0.18
SU Suncor Energy Inc. Add +3.8% 1.37% +0.18
OWL Blue Owl Capital Inc. Add +26.7% 1.54% +0.16
TRU Transunion New 0.14% +0.14
NOC Northrop Grumman Corp. Add +5.5% 0.93% +0.14
SYK Stryker Corp. Add +3.9% 1.49% +0.13
VO Vngrd Mrngstr MD-Cap ETF-Usd Add +11.3% 0.95% +0.10
CP Canadian Pacific Kansas City Add +26.6% 0.47% +0.10
FCX Freeport-McMoran Inc. Add +204.3% 0.14% +0.09
LLY Eli Lilly & Co. Add +9.5% 0.48% +0.08
TEAM Atlassian Corp. Class A New 0.07% +0.07
DXJ Wisdomtree Japan Hedged Eq Add +4.0% 1.23% +0.07
IBB iShares Biotechnology ETF New 0.07% +0.07
MA Mastercard Inc. Class A Add +1.6% 0.93% +0.07
BHP BHP Group Ltd.-Spon ADR Add +4.6% 1.09% +0.06
MCD McDonald's Corp. Add +22.6% 0.23% +0.06
AIRR First Trust Rba American Ind Add +53.0% 0.21% +0.06
UEC Uranium Energy Corp. Add +489.5% 0.07% +0.05
COST Costco Wholesale Corp. Add +9.1% 0.42% +0.05
MPC Marathon Petroleum Corp. New 0.05% +0.05
WCN Waste Connections Inc. New 0.05% +0.05
D Dominion Energy Inc. Add +40.0% 0.16% +0.05
BP BP PLC-Spons ADR New 0.05% +0.05
WES Western Midstream Partners L New 0.05% +0.05
RIO Rio Tinto PLC-Spon ADR New 0.05% +0.05
AZN Astrazeneca PLC-Spons ADR Add +14.2% 0.20% +0.05
OKE Oneok Inc. Add +29.6% 0.18% +0.04
VRT Vertiv Holdings Co. Class A Add +88.1% 0.23% +0.04
IBIT iShares Bitcoin Trust ETF Add +36.9% 0.22% +0.04
COP Conocophillips Add +5.7% 0.32% +0.04
GLD SPDR Gold Shares Add +16.8% 0.13% +0.04
GLW Corning Inc. Add +22.1% 0.23% +0.04

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 202$739.8MNVDA, PANW, AAPL, DELL, RODM
Q1 2026 165$637.8MNVDA, AAPL, RODM, GDXJ, MSFT
Q4 2025 182$639.1MNVDA, AAPL, MSFT, AMZN, JPM
Q3 2025 163$580.4MNVDA, AAPL, MSFT, AVGO, SHY
Q2 2025 164$542.8MNVDA, AAPL, MSFT, SHY, V
Q1 2025 159$469.5MAAPL, NVDA, MSFT, V, JPM
Q4 2024 161$479.1MNVDA, AAPL, MSFT, AMZN, AVGO