Bedell Frazier Investment Counselling, LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Bedell Frazier Investment Counselling, LLC reported 102 stock positions worth $392.8 million. Its top holding was SPDR Gold Shares (GLD) at 11.2% of the portfolio, followed by Apple (AAPL, 8.8%) and Amazon.com (AMZN, 5.3%). Compared with Q4 2024, it opened 7 new positions, sold out of 12, added to 26 and reduced 61. The biggest buy was SS SPDR S&P 500 ETF Trust-US (SPY, shares +957%) and the biggest sale an exit from SS Financial Select Sector (XLF).

Most Recent 13F
Q1 2026
Location
Walnut Creek, CA
CIK
0001388142
Portfolio Value
$392.8M (Q1 2025)
SEC Filing
0001172661-25-001863 ↗ filed May 14, 2025

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $400.1M Q1 2024 Q2 2024: $414.7M Q2 2024 Q3 2024: $418.5M Q3 2024 Q4 2024: $403.6M Q4 2024 Q1 2025: $392.8M $392.8M Q1 2025 Q2 2025: $397.2M Q2 2025 Q3 2025: $486.6M Q3 2025 Q4 2025: $518.3M Q4 2025 Q1 2026: $495.0M Q1 2026

Holdings 102 stocks · $392.8M
GLD SPDR Gold Shares 11.22% 153,019 $44.1M Reduce -3.9%
AAPL Apple Inc. 8.84% 156,248 $34.7M Reduce -3.5%
AMZN Amazon.com Inc. 5.35% 110,451 $21.0M Reduce -1.6%
UTF Cohen & Steers Infrastructur 3.23% 497,239 $12.7M Reduce -2.0%
KO The Coca-Cola Co. 2.97% 162,730 $11.7M Reduce -0.7%
GOOGL Alphabet Inc. Class A 2.94% 74,766 $11.6M Reduce -0.9%
MSFT Microsoft Corp. 2.72% 28,447 $10.7M Reduce -1.9%
SPY SS SPDR S&P 500 ETF Trust-US 2.61% 18,348 $10.3M Add +956.9%
LMT Lockheed Martin Corp. 2.56% 22,512 $10.1M Reduce -2.5%
JNJ Johnson & Johnson 2.54% 60,151 $10.0M Reduce -14.4%
PDBC Invesco Optimum Yield Divers 2.54% 730,992 $10.0M Add +11.0%
XLU St Sr Utl SL SE SPDR ETF-Usd 2.36% 117,751 $9.3M Reduce -4.5%
XOM Exxon Mobil Corp. 2.31% 76,340 $9.1M Reduce -2.5%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 2.10% 33,205 $8.3M Reduce -17.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.94% 77,297 $7.6M Add +7.3%
UNH Unitedhealth Group Inc. 1.93% 14,508 $7.6M Reduce -7.7%
GDX Vaneck Gold Miners ETF 1.92% 164,050 $7.5M Add +23.7%
SLV iShares Silver Trust 1.82% 230,369 $7.1M Add +35.2%
UBER Uber Technologies Inc. 1.72% 92,657 $6.8M New
XLV SS Health Care Select Sector 1.63% 43,816 $6.4M Reduce -12.2%
UL Unilever PLC 1.46% 96,630 $5.8M New
NKE Nike Inc. Class B 1.44% 88,815 $5.6M Add +46.4%
VZ Verizon Communications Inc. 1.37% 118,561 $5.4M Add +9.0%
NVDA Nvidia Corp. 1.27% 46,085 $5.0M Add +0.1%
TGT Target Corp. 1.27% 47,754 $5.0M Add +8.6%
REGN Regeneron Pharmaceuticals 1.26% 7,821 $5.0M Add +59.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.25% 117,353 $4.9M Reduce -3.2%
COST Costco Wholesale Corp. 1.24% 5,136 $4.9M Reduce -0.7%
FCX Freeport-McMoran Inc. 1.10% 113,969 $4.3M Reduce -10.8%
ROK Rockwell Automation Inc. 1.07% 16,233 $4.2M Add +0.2%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 1.05% 98,839 $4.1M New
EQT Eqt Corp. 1.05% 77,173 $4.1M Add +84.2%
PHO Invesco Water Resources ETF 1.05% 63,814 $4.1M Reduce -1.3%
VOO Vanguard S&P 500 ETF 0.98% 7,504 $3.9M Reduce -0.7%
LLY Eli Lilly & Co. 0.89% 4,251 $3.5M Add +2.5%
ROKU Roku Inc. 0.88% 49,344 $3.5M Reduce -0.8%
JPM JPMorgan Chase & Co. 0.85% 13,688 $3.4M Reduce -1.6%
CVX Chevron Corp. 0.78% 18,278 $3.1M Add +1.4%
C Citigroup Inc. 0.77% 42,881 $3.0M New
CELH Celsius Holdings Inc. 0.75% 82,937 $3.0M Add +7.9%
STZ Constellation Brands Inc. Class A 0.75% 16,010 $2.9M Reduce -22.1%
EOG EOG Resources Inc. 0.70% 21,529 $2.8M Add +2.5%
NFLX Netflix Inc. 0.67% 2,820 $2.6M Add +510.4%
AGG iShares Core U.S. Aggregate 0.54% 21,572 $2.1M Add +1.5%
AVGO Broadcom Inc. 0.52% 12,103 $2.0M Reduce -0.4%
CSCO Cisco Systems Inc. 0.51% 32,562 $2.0M Reduce -12.0%
MCD McDonald's Corp. 0.46% 5,795 $1.8M Reduce -0.9%
MAR Marriott International Class A 0.45% 7,501 $1.8M Reduce -3.8%
XLB SS Materials Select Sector 0.45% 20,730 $1.8M Reduce -1.9%
HD Home Depot Inc. 0.45% 4,859 $1.8M No change
BA The Boeing Co. 0.43% 9,859 $1.7M Reduce -0.7%
V Visa Inc. Class A 0.39% 4,356 $1.5M Reduce -11.6%
GS Goldman Sachs Group Inc. 0.37% 2,694 $1.5M Reduce -3.4%
XLI SS Industrial Select Sector 0.37% 11,100 $1.5M Reduce -27.3%
META Meta Platforms Inc. Class A 0.34% 2,319 $1.3M Reduce -6.2%
BCAL California Bancorp 0.27% 73,729 $1.1M No change
CPT Camden Property Trust 0.25% 8,074 $987K Reduce -1.6%
FBT First Trust Nyse Arca Biotec 0.25% 5,801 $987K Reduce -0.5%
LRCX Lam Research Corp. 0.25% 13,440 $977K Reduce -2.7%
SO The Southern Co. 0.24% 10,375 $954K No change
HACK Amplify Cybersecurity ETF 0.22% 11,900 $854K Reduce -1.1%
GOOG Alphabet Inc. Class C 0.19% 4,687 $732K Reduce -3.9%
TT Trane Technologies PLC 0.16% 1,870 $630K Reduce -20.3%
GBTC Grayscale Bitcoin Trust ETF 0.16% 9,422 $614K Reduce -1.6%
PANW Palo Alto Networks Inc. 0.15% 3,476 $593K Reduce -9.1%
DLTR Dollar Tree Inc. 0.15% 7,885 $592K Reduce -0.4%
INDA iShares MSCI India ETF 0.15% 11,434 $589K Reduce -88.6%
PFE Pfizer Inc. 0.15% 22,810 $578K Reduce -2.0%
AMD Advanced Micro Devices 0.14% 5,225 $537K Add +6.9%
CRSP Crispr Therapeutics AG 0.13% 14,764 $502K Reduce -30.1%
CB Chubb Ltd. 0.13% 1,645 $497K Reduce -25.9%
USFR Wisdomtree Floating Rate Tre 0.12% 9,615 $484K Add +2.7%
ETN Eaton Corp. PLC 0.12% 1,748 $475K Reduce -33.7%
DVN Devon Energy Corp. 0.12% 12,309 $460K Add +2.2%
TSLA Tesla Inc. 0.12% 1,766 $458K Reduce -26.9%
ABT Abbott Laboratories 0.11% 3,299 $438K Reduce -11.5%
ABBV Abbvie Inc. 0.10% 1,939 $406K Reduce -2.0%
VIG Vanguard Dividend Apprec ETF 0.10% 2,050 $398K No change
WFC Wells Fargo & Co. 0.10% 5,504 $395K Reduce -1.1%
NEE Nextera Energy Inc. 0.10% 5,551 $394K Reduce -1.3%
XLRE SS Real Estate Select Sector 0.10% 9,140 $383K Reduce -29.5%
PG The Procter & Gamble Co. 0.10% 2,223 $379K Add +2.3%
ADBE Adobe Inc. 0.10% 982 $377K Reduce -4.9%
RTX RTX Corp. 0.09% 2,739 $363K Reduce -94.5%
VRT Vertiv Holdings Co. Class A 0.09% 5,005 $361K Add +37.0%
WMT Walmart Inc. 0.08% 3,734 $328K Reduce -2.9%
NOBL Proshares S&P 500 Dividend A 0.08% 3,178 $325K No change
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.08% 732 $307K Reduce -35.3%
APD Air Products & Chemicals Inc. 0.08% 1,025 $302K Add +2.5%
CRWD CrowdStrike Holdings Inc. Class A 0.07% 771 $272K Reduce -1.4%
CCJ Cameco Corp. 0.07% 6,244 $257K Reduce -84.7%
MA Mastercard Inc. Class A 0.06% 465 $255K No change
MDY State Street SPDR S&P Midcap 0.06% 473 $252K New
EPD Enterprise Products Partners 0.06% 6,980 $238K No change
ACWX iShares MSCI Acwi Ex US ETF 0.06% 4,248 $236K New
SNOW Snowflake Inc. 0.06% 1,599 $234K Reduce -0.7%
XLK SS Technology Select Sector 0.06% 1,106 $228K Add +4.0%
GE General Electric filed as GE AEROSPACE 0.06% 1,106 $221K New
MDT Medtronic PLC 0.06% 2,407 $216K Reduce -35.1%
AXP American Express Co. 0.05% 801 $216K Add +0.1%

Show all 102 holdings

Portfolio Sells Q4 2024 → Q1 2025
XLF SS Financial Select Sector Sold out 0.00% −2.35
IJT iShares S&P Small-Cap 600 GR Sold out 0.00% −1.95
COP Conocophillips Sold out 0.00% −1.37
RTX RTX Corp. Reduce -94.5% 0.09% −1.33
AAPL Apple Inc. Reduce -3.5% 8.84% −1.21
INDA iShares MSCI India ETF Reduce -88.6% 0.15% −1.16
AMZN Amazon.com Inc. Reduce -1.6% 5.35% −0.75
GOOGL Alphabet Inc. Class A Reduce -0.9% 2.94% −0.60
CCJ Cameco Corp. Reduce -84.7% 0.07% −0.45
STZ Constellation Brands Inc. Class A Reduce -22.1% 0.75% −0.38
MSFT Microsoft Corp. Reduce -1.9% 2.72% −0.31
LMT Lockheed Martin Corp. Reduce -2.5% 2.56% −0.22
NLR Vaneck Urani & Nuclr ETF-Usd Sold out 0.00% −0.19
AVGO Broadcom Inc. Reduce -0.4% 0.52% −0.18
CL Colgate-Palmolive Co. Sold out 0.00% −0.15
XLI SS Industrial Select Sector Reduce -27.3% 0.37% −0.13
TSLA Tesla Inc. Reduce -26.9% 0.12% −0.13
FCX Freeport-McMoran Inc. Reduce -10.8% 1.10% −0.11
ETN Eaton Corp. PLC Reduce -33.7% 0.12% −0.10
CRDO Credo Technology Group Holdi Sold out 0.00% −0.09
IBM Intl Business Machines Corp. Reduce -17.5% 2.10% −0.09
ITA iShares U.S. Aerospace & Def Sold out 0.00% −0.09
MAR Marriott International Class A Reduce -3.8% 0.45% −0.08
CRSP Crispr Therapeutics AG Reduce -30.1% 0.13% −0.08
IWM iShares Russell 2000 ETF Sold out 0.00% −0.08
MRK Merck & Co. Inc. Sold out 0.00% −0.07
BAC Bank of America Corp. Reduce -3.2% 1.25% −0.07
XLV SS Health Care Select Sector Reduce -12.2% 1.63% −0.07
WIX Wix.com Ltd. Sold out 0.00% −0.06
XLY SS Consumer Disc Select Sect Sold out 0.00% −0.05
TT Trane Technologies PLC Reduce -20.3% 0.16% −0.05
MDB Mongodb Inc. Sold out 0.00% −0.05
GOOG Alphabet Inc. Class C Reduce -3.9% 0.19% −0.04
DIA SS SPDR Dow Jones Indus Avg Reduce -35.3% 0.08% −0.04
UNH Unitedhealth Group Inc. Reduce -7.7% 1.93% −0.04
XLRE SS Real Estate Select Sector Reduce -29.5% 0.10% −0.03
CSCO Cisco Systems Inc. Reduce -12.0% 0.51% −0.03
ROKU Roku Inc. Reduce -0.8% 0.88% −0.03
VOO Vanguard S&P 500 ETF Reduce -0.7% 0.98% −0.03
CB Chubb Ltd. Reduce -25.9% 0.13% −0.03
PANW Palo Alto Networks Inc. Reduce -9.1% 0.15% −0.02
GS Goldman Sachs Group Inc. Reduce -3.4% 0.37% −0.02
GBTC Grayscale Bitcoin Trust ETF Reduce -1.6% 0.16% −0.02
META Meta Platforms Inc. Class A Reduce -6.2% 0.34% −0.02
MDT Medtronic PLC Reduce -35.1% 0.06% −0.02
ADBE Adobe Inc. Reduce -4.9% 0.10% −0.02
BA The Boeing Co. Reduce -0.7% 0.43% −0.01
PHO Invesco Water Resources ETF Reduce -1.3% 1.05% −0.01
PFE Pfizer Inc. Reduce -2.0% 0.15% −0.01
HACK Amplify Cybersecurity ETF Reduce -1.1% 0.22% −0.00

Portfolio Buys Q4 2024 → Q1 2025
SPY SS SPDR S&P 500 ETF Trust-US Add +956.9% 2.61% +2.36
UBER Uber Technologies Inc. New 1.72% +1.72
UL Unilever PLC New 1.46% +1.46
SLB SLB Ltd. New 1.05% +1.05
GDX Vaneck Gold Miners ETF Add +23.7% 1.92% +0.81
C Citigroup Inc. New 0.77% +0.77
SLV iShares Silver Trust Add +35.2% 1.82% +0.71
EQT Eqt Corp. Add +84.2% 1.05% +0.57
NFLX Netflix Inc. Add +510.4% 0.67% +0.57
PDBC Invesco Optimum Yield Divers Add +11.0% 2.54% +0.42
REGN Regeneron Pharmaceuticals Add +59.5% 1.26% +0.40
NKE Nike Inc. Class B Add +46.4% 1.44% +0.30
VZ Verizon Communications Inc. Add +9.0% 1.37% +0.29
CELH Celsius Holdings Inc. Add +7.9% 0.75% +0.25
CVX Chevron Corp. Add +1.4% 0.78% +0.13
LLY Eli Lilly & Co. Add +2.5% 0.89% +0.10
EOG EOG Resources Inc. Add +2.5% 0.70% +0.06
MDY State Street SPDR S&P Midcap New 0.06% +0.06
ACWX iShares MSCI Acwi Ex US ETF New 0.06% +0.06
GE General Electric New 0.06% +0.06
AGG iShares Core U.S. Aggregate Add +1.5% 0.54% +0.03
DVN Devon Energy Corp. Add +2.2% 0.12% +0.02
USFR Wisdomtree Floating Rate Tre Add +2.7% 0.12% +0.01
PG The Procter & Gamble Co. Add +2.3% 0.10% +0.01
APD Air Products & Chemicals Inc. Add +2.5% 0.08% +0.01
XLK SS Technology Select Sector Add +4.0% 0.06% −0.00
AXP American Express Co. Add +0.1% 0.05% −0.00
AMD Advanced Micro Devices Add +6.9% 0.14% −0.01
VRT Vertiv Holdings Co. Class A Add +37.0% 0.09% −0.01
DIS The Walt Disney Co. Add +7.3% 1.94% −0.05
ROK Rockwell Automation Inc. Add +0.2% 1.07% −0.08
TGT Target Corp. Add +8.6% 1.27% −0.20
NVDA Nvidia Corp. Add +0.1% 1.27% −0.26

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q1 2026 128$495.0MAAPL, GLD, GOOGL, AMZN, JNJ
Q4 2025 133$518.3MAAPL, GOOGL, AMZN, GLD, MSFT
Q3 2025 129$486.6MAAPL, GLD, AMZN, GOOGL, MSFT
Q2 2025 110$397.2MAAPL, AMZN, GLD, MSFT, UTF
Q1 2025 102$392.8MGLD, AAPL, AMZN, UTF, KO
Q4 2024 107$403.6MAAPL, GLD, AMZN, GOOGL, MSFT
Q3 2024 101$418.5MGLD, AAPL, LMT, AMZN, XLV
Q2 2024 96$414.7MAAPL, GLD, AMZN, MSFT, XLV
Q1 2024 96$400.1MGLD, AAPL, AMZN, XLV, LMT