Bearing Point Capital, LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 10, 2026), Bearing Point Capital, LLC reported 182 stock positions worth $639.1 million. Its top holding was Nvidia (NVDA) at 5.6% of the portfolio, followed by Apple (AAPL, 4.1%) and Microsoft (MSFT, 2.9%). Compared with Q3 2025, it opened 30 new positions, sold out of 12, added to 104 and reduced 21. The biggest buy was Antero Resources (AR, shares +641%) and the biggest sale Veeva Systems Class A (VEEV, shares −45%).

Most Recent 13F
Q2 2026
Location
BLOOMINGTON, MN
CIK
0002052916
Portfolio Value
$639.1M (Q4 2025)
SEC Filing
0001765380-26-000086 ↗ filed Feb 10, 2026

Holdings Value

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

Holdings 182 stocks · $639.1M
NVDA Nvidia Corp. 5.62% 192,498 $35.9M Add +1.2%
AAPL Apple Inc. 4.10% 96,399 $26.2M Add +4.3%
MSFT Microsoft Corp. 2.90% 38,290 $18.5M Add +8.5%
AMZN Amazon.com Inc. 2.48% 68,654 $15.8M Add +14.2%
JPM JPMorgan Chase & Co. 2.44% 48,417 $15.6M Add +6.3%
GDXJ Vaneck Junior Gold Miners 2.40% 134,648 $15.3M Add +7.8%
AVGO Broadcom Inc. 2.36% 43,547 $15.1M Reduce -3.9%
V Visa Inc. Class A 2.25% 40,911 $14.3M Add +7.8%
PANW Palo Alto Networks Inc. 2.12% 73,623 $13.6M Add +8.2%
GOOGL Alphabet Inc. Class A 2.01% 40,939 $12.8M Add +7.7%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.92% 222,877 $12.3M Add +7.0%
AXP American Express Co. 1.76% 30,441 $11.3M Add +9.1%
HWM Howmet Aerospace Inc. 1.75% 54,619 $11.2M Add +9.5%
ADM Archer-Daniels-Midland Co. 1.71% 190,000 $10.9M No change
RODM Hartford Multifact Dev MRKT 1.62% 280,032 $10.4M Add +17.6%
SHY iShares 1-3 Year Treasury Bo 1.54% 118,615 $9.8M Reduce -31.6%
CME Cme Group Inc. 1.49% 34,881 $9.5M Add +12.6%
DHR Danaher Corp. 1.47% 40,909 $9.4M Add +9.8%
CEG Constellation Energy 1.43% 25,880 $9.1M Add +7.5%
GOOG Alphabet Inc. Class C 1.40% 28,604 $9.0M Add +8.7%
ECL Ecolab Inc. 1.40% 33,985 $8.9M Add +11.7%
NET Cloudflare Inc. Class A 1.37% 44,539 $8.8M Add +11.2%
AGX Argan Inc. 1.32% 27,020 $8.5M Add +7.7%
DXJ Wisdomtree Japan Hedged Eq 1.32% 58,531 $8.4M Add +8.3%
EMBJ Embraer SA-Spon ADR 1.32% 130,745 $8.4M Add +8.3%
MDY State Street SPDR S&P Midcap 1.30% 13,808 $8.3M Reduce -0.8%
SYK Stryker Corp. 1.27% 23,180 $8.1M Add +12.5%
SU Suncor Energy Inc. 1.25% 179,844 $8.0M Add +8.7%
ACN Accenture PLC Class A 1.22% 29,046 $7.8M Add +2.2%
BHP BHP Group Ltd.-Spon ADR 1.18% 125,425 $7.6M Add +9.6%
CVX Chevron Corp. 1.18% 49,649 $7.6M Add +6.6%
DELL Dell Technologies -C 1.18% 60,095 $7.6M Add +8.9%
CB Chubb Ltd. 1.15% 23,565 $7.4M Add +12.2%
INDA iShares MSCI India ETF 1.08% 128,095 $6.9M Add +7.3%
VEA Vanguard Ftse Developed ETF 1.07% 109,305 $6.8M Add +5.4%
ETN Eaton Corp. PLC 1.07% 21,418 $6.8M Add +12.1%
TT Trane Technologies PLC 1.03% 16,983 $6.6M Add +12.3%
CTVA Corteva Inc. 1.02% 96,876 $6.5M Add +7.7%
NEM Newmont Corp. 0.99% 63,128 $6.3M Add +10.4%
IBB iShares Biotechnology ETF 0.94% 35,454 $6.0M Add +5.6%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.93% 20,412 $5.9M Add +9.5%
AEP American Electric Power 0.92% 50,883 $5.9M Add +12.1%
NOC Northrop Grumman Corp. 0.88% 9,816 $5.6M Add +10.3%
MA Mastercard Inc. Class A 0.80% 8,998 $5.1M Add +9.9%
IVV iShares Core S&P 500 ETF 0.78% 7,305 $5.0M Add +0.1%
AR Antero Resources Corp. 0.77% 143,451 $4.9M Add +641.0%
APTV Aptiv PLC 0.76% 64,019 $4.9M Add +9.9%
MELI MercadoLibre Inc. 0.75% 2,392 $4.8M Add +7.6%
TM Toyota Motor Corp. -Spon ADR 0.71% 21,241 $4.5M Add +8.9%
HON Honeywell International Inc. 0.70% 22,893 $4.5M Add +8.0%
RSP Invesco S&P 500 Equal Weight 0.70% 23,262 $4.5M Add +16.5%
KKR KKR & Co. Inc. 0.65% 32,711 $4.2M Reduce -5.2%
SPOT Spotify Technology SA 0.65% 7,124 $4.1M Reduce -9.6%
RSG Republic Services Inc. 0.62% 18,741 $4.0M Add +15.1%
SPY SS SPDR S&P 500 ETF Trust-US 0.60% 5,601 $3.8M Add +1.6%
VEEV Veeva Systems Inc. Class A 0.57% 16,228 $3.6M Reduce -45.1%
VHT Vanguard Health Care ETF 0.55% 12,262 $3.5M New
ALAB Astera Labs Inc. 0.55% 21,145 $3.5M New
BOTZ Global X Robotics & Artifici 0.55% 96,625 $3.5M New
IEFA iShares Core MSCI Eafe ETF 0.53% 38,150 $3.4M Add +9.6%
USB US Bancorp 0.53% 63,064 $3.4M Add +3.5%
ABBV Abbvie Inc. 0.52% 14,552 $3.3M Add +2.1%
EWG iShares MSCI Germany ETF 0.50% 75,027 $3.2M New
LLY Eli Lilly & Co. 0.47% 2,777 $3.0M Add +3.9%
CP Canadian Pacific Kansas City 0.47% 40,386 $3.0M Add +14.9%
HD Home Depot Inc. 0.42% 7,769 $2.7M Add +4.9%
XBI SS SPDR S&P Biotech ETF 0.41% 21,352 $2.6M Add +29.2%
IWF iShares Russell 1000 Growth 0.39% 5,240 $2.5M Add +0.5%
ENB Enbridge Inc. 0.34% 45,232 $2.2M Add +4.2%
VGSH Vanguard Short-Term Treasury 0.33% 36,200 $2.1M Reduce -48.0%
GLW Corning Inc. 0.33% 24,274 $2.1M Add +5.7%
VB Vanguard Most SM-Cap ETF-Usd 0.32% 7,955 $2.1M Add +45.9%
IJR iShares Core S&P Small-Cap E 0.31% 16,733 $2.0M Add +4.0%
COST Costco Wholesale Corp. 0.29% 2,164 $1.9M Add +1.4%
BRK.B Berkshire Hathaway Inc. Class B 0.28% 3,622 $1.8M Add +1.0%
FNDX Schwab Fndmntl US LRG Co. ETF 0.28% 65,900 $1.8M Reduce -10.3%
UNH Unitedhealth Group Inc. 0.27% 5,234 $1.7M Reduce -70.2%
COP Conocophillips 0.26% 17,570 $1.6M Add +14.6%
MPC Marathon Petroleum Corp. 0.25% 10,013 $1.6M Add +457.8%
CG The Carlyle Group Inc. 0.25% 27,323 $1.6M Add +153.6%
NEE Nextera Energy Inc. 0.24% 19,105 $1.5M Add +9.8%
LMT Lockheed Martin Corp. 0.24% 3,120 $1.5M Add +8.8%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.23% 4,664 $1.5M Reduce -5.7%
INDY iShares India 50 ETF 0.23% 29,380 $1.4M Add +11.9%
IJH iShares Core S&P Midcap ETF 0.23% 21,805 $1.4M No change
XLK SS Technology Select Sector 0.22% 9,758 $1.4M Add +9.4%
KO The Coca-Cola Co. 0.22% 19,905 $1.4M Add +11.2%
TSLA Tesla Inc. 0.21% 2,959 $1.3M Reduce -9.9%
IEO iShares U.S. Oil & Gas Explo 0.21% 14,888 $1.3M New
XOM Exxon Mobil Corp. 0.20% 10,654 $1.3M Add +3.9%
TIP iShares Tips Bond ETF 0.20% 11,342 $1.2M Add +8.1%
MCD McDonald's Corp. 0.19% 4,060 $1.2M Add +15.7%
FBTC Fidelity Wise Origin Bitcoin 0.19% 16,122 $1.2M New
LNC Lincoln National Corp. 0.19% 26,600 $1.2M No change
VONG Vanguard Russell 1000 Growth 0.18% 9,474 $1.2M New
IUSG iShares Core S&P U.S. Growth 0.18% 6,700 $1.1M No change
IVE iShares S&P 500 Value ETF 0.17% 5,197 $1.1M No change
IWP iShares Russell Mid-Cap Grow 0.17% 7,887 $1.1M Add +19.3%
AZN Astrazeneca PLC 0.17% 11,665 $1.1M New
OPPJ Wisdomtree Japan Opportuniti 0.16% 21,653 $1.0M Add +18.9%
MDT Medtronic PLC 0.15% 10,186 $978K Add +19.7%
AIRR First Trust Rba American Ind 0.15% 9,810 $965K Add +33.5%
MS Morgan Stanley 0.15% 5,417 $962K Add +0.2%
IBIT iShares Bitcoin Trust ETF 0.15% 18,770 $932K Reduce -55.0%
XEXGX Eaton Vance Tax-Managed Glob 0.14% 94,000 $896K No change
GLD SPDR Gold Shares 0.13% 2,144 $850K Add +0.4%
D Dominion Energy Inc. 0.13% 14,400 $844K No change
VIG Vanguard Dividend Apprec ETF 0.13% 3,824 $840K New
SAP Sap SE-Sponsored ADR 0.13% 3,459 $840K New
CRVL Corvel Corp. 0.13% 12,000 $812K No change
IWM iShares Russell 2000 ETF 0.12% 3,195 $786K Add +3.7%
JNJ Johnson & Johnson 0.12% 3,714 $769K Add +14.9%
NVT Nvent Electric PLC 0.12% 7,228 $737K New
DUK Duke Energy Corp. 0.11% 6,151 $721K Add +1.2%
IVW iShares S&P 500 Growth ETF 0.11% 5,692 $702K No change
VTI VG Morningstar TS MKT ETF-US 0.11% 2,084 $699K Add +121.5%
VOO Vanguard S&P 500 ETF 0.11% 1,101 $690K Add +0.1%
TX Ternium SA-Sponsored ADR 0.11% 18,000 $687K No change
RF Regions Financial Corp. 0.11% 25,255 $684K No change
PFE Pfizer Inc. 0.11% 27,162 $676K Reduce -41.1%
EIX Edison International 0.10% 11,069 $664K No change
SPG Simon Property Group Inc. 0.10% 3,572 $661K No change
ABT Abbott Laboratories 0.10% 5,199 $651K Add +31.1%
DVY iShares Select Dividend ETF 0.10% 4,585 $647K New
DCI Donaldson Co. Inc. 0.10% 7,253 $643K Reduce -4.6%
IWR iShares Russell Mid-Cap ETF 0.10% 6,602 $636K Add +11.6%
FE Firstenergy Corp. 0.10% 14,095 $631K No change
CAT Caterpillar Inc. 0.10% 1,084 $621K New
TRV The Travelers Cos Inc. 0.09% 2,019 $586K No change
ASB Associated Banc-Corp. 0.09% 22,496 $579K New
PG The Procter & Gamble Co. 0.09% 4,043 $579K Add +13.7%
TDIV FT Nasdaq Tech DVD Index FD 0.09% 5,895 $571K Add +11.3%
QQQ Invesco QQQ Trust Series 1 0.09% 910 $559K Add +13.9%
EQIX Equinix Inc. 0.08% 693 $531K Add +10.3%
IWO iShares Russell 2000 Growth 0.08% 1,626 $525K Reduce -4.4%
NSC Norfolk Southern Corp. 0.08% 1,773 $512K Add +2.9%
CNQ Canadian Natural Resources 0.08% 14,422 $488K No change
RTX RTX Corp. 0.08% 2,625 $481K Add +4.8%
IWS iShares Russell Mid-Cap Valu 0.07% 3,391 $478K Add +35.6%
AVR Anteris Technologies Global 0.07% 95,560 $477K Add +5.0%
SWK Stanley Black & Decker Inc. 0.07% 6,417 $477K Reduce -12.0%
WMT Walmart Inc. 0.07% 4,272 $476K Add +7.3%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.07% 2,218 $470K Add +0.8%
META Meta Platforms Inc. Class A 0.07% 711 $469K Add +14.3%
SHV iShares 0-1 Year Treasury Bo 0.07% 4,145 $457K Add +12.0%
EFA iShares MSCI Eafe ETF 0.07% 4,640 $446K Add +33.7%
ACWI iShares MSCI Acwi ETF 0.07% 3,132 $443K New
XHB SS SPDR S&P Homebldrs ETF 0.07% 4,184 $431K New
PHYS Sprott Physical Gold Trust 0.07% 13,000 $429K No change
SOLS Solstice Adv Materials Inc. 0.06% 8,507 $413K Add +60.5%
XLE SS Energy Select Sector 0.06% 9,130 $408K New
T AT&T Inc. 0.06% 15,225 $378K Reduce -0.6%
PLTR Palantir Technologies Inc. Class A 0.06% 2,103 $374K Add +0.1%
UFPI Ufp Industries Inc. 0.06% 4,050 $369K New
EWZ iShares MSCI Brazil ETF 0.06% 11,159 $355K New
XLF SS Financial Select Sector 0.05% 6,248 $342K Add +48.3%
GS Goldman Sachs Group Inc. 0.05% 350 $308K New
RIO Rio Tinto PLC-Spon ADR 0.05% 3,800 $304K No change
DGII Digi International Inc. 0.05% 7,000 $303K No change
XLI SS Industrial Select Sector 0.05% 1,865 $289K New
IWN iShares Russell 2000 Value E 0.04% 1,578 $286K No change
EXC Exelon Corp. 0.04% 6,287 $274K No change
IWB iShares Russell 1000 ETF 0.04% 730 $273K No change
CSCO Cisco Systems Inc. 0.04% 3,527 $272K New
XAR SS SPDR S&P Aerospace Def 0.04% 1,050 $253K No change
FCX Freeport-McMoran Inc. 0.04% 4,952 $252K New
WFC Wells Fargo & Co. 0.04% 2,623 $244K New
KGC Kinross Gold Corp. 0.04% 8,500 $239K No change
BLK BlackRock Inc. 0.04% 222 $238K New
NFLX Netflix Inc. 0.04% 2,510 $235K Add +7.7%
LRCX Lam Research Corp. 0.04% 1,365 $234K New
SIL Global X Silver Miners ETF 0.04% 2,765 $231K Reduce -5.2%
XLY SS Consumer Disc Select Sect 0.04% 1,910 $228K New
WCN Waste Connections Inc. 0.04% 1,275 $224K No change
CIBR First Trust Nasdaq Cybersecu 0.03% 3,124 $223K New
ZS Zscaler Inc. 0.03% 973 $219K Reduce -36.3%
NOW ServiceNow Inc. 0.03% 1,380 $211K Reduce -20.0%
CRM Salesforce Inc. 0.03% 794 $210K New
ORCL Oracle Corp. 0.03% 1,074 $209K No change
SGOL Abrdn Physical Gold Shares 0.03% 5,007 $206K New
TSCO Tractor Supply Company 0.03% 4,060 $203K No change
CCI Crown Castle Inc. 0.03% 2,280 $203K Reduce -71.8%
Other holdings (1): bonds, preferreds, convertibles and warrants · $604K (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 498$604KAdd +7.1%

Total filed on the 13F, all lines: $639.7M.

Portfolio Sells Q3 2025 → Q4 2025
VEEV Veeva Systems Inc. Class A Reduce -45.1% 0.57% −0.95
SHY iShares 1-3 Year Treasury Bo Reduce -31.6% 1.54% −0.94
UNH Unitedhealth Group Inc. Reduce -70.2% 0.27% −0.78
VCR Vanguard Consumer Discre ETF Sold out 0.00% −0.41
VGSH Vanguard Short-Term Treasury Reduce -48.0% 0.33% −0.37
IBIT iShares Bitcoin Trust ETF Reduce -55.0% 0.15% −0.32
SFM Sprouts Farmers Market Inc. Sold out 0.00% −0.32
SPOT Spotify Technology SA Reduce -9.6% 0.65% −0.30
AVGO Broadcom Inc. Reduce -3.9% 2.36% −0.22
AZN Astrazeneca PLC-Spons ADR Sold out 0.00% −0.15
MDY State Street SPDR S&P Midcap Reduce -0.8% 1.30% −0.13
KKR KKR & Co. Inc. Reduce -5.2% 0.65% −0.12
DHI D.R. Horton Inc. Sold out 0.00% −0.11
CCI Crown Castle Inc. Reduce -71.8% 0.03% −0.10
TGT Target Corp. Sold out 0.00% −0.10
PFE Pfizer Inc. Reduce -41.1% 0.11% −0.10
EFX Equifax Inc. Sold out 0.00% −0.08
HRL Hormel Foods Corp. Sold out 0.00% −0.06
FNDX Schwab Fndmntl US LRG Co. ETF Reduce -10.3% 0.28% −0.05
ZS Zscaler Inc. Reduce -36.3% 0.03% −0.04
TSLA Tesla Inc. Reduce -9.9% 0.21% −0.04
WMB Williams Cos Inc. Sold out 0.00% −0.04
TRU Transunion Sold out 0.00% −0.04
WES Western Midstream Partners L Sold out 0.00% −0.04
BKR Baker Hughes Co. Sold out 0.00% −0.04
KMI Kinder Morgan Inc. Sold out 0.00% −0.03
VV Vngrd Mrgstr LRG-Cap ETF-Usd Reduce -5.7% 0.23% −0.03
NOW ServiceNow Inc. Reduce -20.0% 0.03% −0.02
SWK Stanley Black & Decker Inc. Reduce -12.0% 0.07% −0.02
T AT&T Inc. Reduce -0.6% 0.06% −0.02
IWO iShares Russell 2000 Growth Reduce -4.4% 0.08% −0.01
DCI Donaldson Co. Inc. Reduce -4.6% 0.10% −0.01
SIL Global X Silver Miners ETF Reduce -5.2% 0.04% +0.00

Portfolio Buys Q3 2025 → Q4 2025
AR Antero Resources Corp. Add +641.0% 0.77% +0.66
VHT Vanguard Health Care ETF New 0.55% +0.55
ALAB Astera Labs Inc. New 0.55% +0.55
BOTZ Global X Robotics & Artifici New 0.55% +0.55
EWG iShares MSCI Germany ETF New 0.50% +0.50
GOOGL Alphabet Inc. Class A Add +7.7% 2.01% +0.41
GOOG Alphabet Inc. Class C Add +8.7% 1.40% +0.30
GDXJ Vaneck Junior Gold Miners Add +7.8% 2.40% +0.27
IEO iShares U.S. Oil & Gas Explo New 0.21% +0.21
AMZN Amazon.com Inc. Add +14.2% 2.48% +0.20
MPC Marathon Petroleum Corp. Add +457.8% 0.25% +0.20
FBTC Fidelity Wise Origin Bitcoin New 0.19% +0.19
DHR Danaher Corp. Add +9.8% 1.47% +0.19
VONG Vanguard Russell 1000 Growth New 0.18% +0.18
AZN Astrazeneca PLC New 0.17% +0.17
AXP American Express Co. Add +9.1% 1.76% +0.17
RODM Hartford Multifact Dev MRKT Add +17.6% 1.62% +0.16
AGX Argan Inc. Add +7.7% 1.32% +0.16
NEM Newmont Corp. Add +10.4% 0.99% +0.16
CG The Carlyle Group Inc. Add +153.6% 0.25% +0.14
SAP Sap SE-Sponsored ADR New 0.13% +0.13
VIG Vanguard Dividend Apprec ETF New 0.13% +0.13
CB Chubb Ltd. Add +12.2% 1.15% +0.13
DXJ Wisdomtree Japan Hedged Eq Add +8.3% 1.32% +0.13
XBI SS SPDR S&P Biotech ETF Add +29.2% 0.41% +0.12
LLY Eli Lilly & Co. Add +3.9% 0.47% +0.12
NVT Nvent Electric PLC New 0.12% +0.12
DVY iShares Select Dividend ETF New 0.10% +0.10
IBB iShares Biotechnology ETF Add +5.6% 0.94% +0.10
CAT Caterpillar Inc. New 0.10% +0.10
ASB Associated Banc-Corp. New 0.09% +0.09
BHP BHP Group Ltd.-Spon ADR Add +9.6% 1.18% +0.09
VB Vanguard Most SM-Cap ETF-Usd Add +45.9% 0.32% +0.08
ACWI iShares MSCI Acwi ETF New 0.07% +0.07
TM Toyota Motor Corp. -Spon ADR Add +8.9% 0.71% +0.07
XHB SS SPDR S&P Homebldrs ETF New 0.07% +0.07
HWM Howmet Aerospace Inc. Add +9.5% 1.75% +0.07
BAC Bank of America Corp. Add +7.0% 1.92% +0.07
CEG Constellation Energy Add +7.5% 1.43% +0.07
XLE SS Energy Select Sector New 0.06% +0.06
EMBJ Embraer SA-Spon ADR Add +8.3% 1.32% +0.06
UFPI Ufp Industries Inc. New 0.06% +0.06
VTI VG Morningstar TS MKT ETF-US Add +121.5% 0.11% +0.06
SU Suncor Energy Inc. Add +8.7% 1.25% +0.06
EWZ iShares MSCI Brazil ETF New 0.06% +0.06
CME Cme Group Inc. Add +12.6% 1.49% +0.05
GS Goldman Sachs Group Inc. New 0.05% +0.05
AAPL Apple Inc. Add +4.3% 4.10% +0.05
XLI SS Industrial Select Sector New 0.05% +0.05
RSP Invesco S&P 500 Equal Weight Add +16.5% 0.70% +0.04

Notes & Other Activity Q3 2025 → Q4 2025
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A Add +7.1% 498 $604K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

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