Bedell Frazier Investment Counselling, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Bedell Frazier Investment Counselling, LLC reported 129 stock positions worth $486.6 million. Its top holding was Apple (AAPL) at 8.1% of the portfolio, followed by SPDR Gold Shares (GLD, 4.9%) and Amazon.com (AMZN, 4.7%). Compared with Q2 2025, it opened 28 new positions, sold out of 9, added to 44 and reduced 50. The biggest buy was a new position in iShares Russell 2000 ETF (IWM) and the biggest sale Unilever (UL, shares −96%).
- Most Recent 13F
- Q1 2026
- Location
- Walnut Creek, CA
- CIK
- 0001388142
- Portfolio Value
- $486.6M (Q3 2025)
- SEC Filing
- 0001172661-25-004709 ↗ filed Nov 12, 2025
Holdings Value
Holdings 129 stocks · $486.6M
| AAPL Apple Inc. | 8.11% | 154,883 | $39.4M | Add +1.4% |
| GLD SPDR Gold Shares | 4.94% | 67,646 | $24.0M | Reduce -2.7% |
| AMZN Amazon.com Inc. | 4.74% | 105,045 | $23.1M | Reduce -1.5% |
| GOOGL Alphabet Inc. Class A | 4.60% | 91,982 | $22.4M | Add +23.3% |
| MSFT Microsoft Corp. | 3.18% | 29,834 | $15.5M | Add +6.9% |
| UBER Uber Technologies Inc. | 2.77% | 137,399 | $13.5M | Add +5.9% |
| IWM iShares Russell 2000 ETF | 2.68% | 53,888 | $13.0M | New |
| JNJ Johnson & Johnson | 2.24% | 58,802 | $10.9M | Reduce -2.3% |
| LMT Lockheed Martin Corp. | 2.06% | 20,108 | $10.0M | Reduce -12.9% |
| META Meta Platforms Inc. Class A | 2.06% | 13,646 | $10.0M | Add +488.4% |
| KO The Coca-Cola Co. | 2.00% | 146,621 | $9.7M | Reduce -7.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.93% | 33,365 | $9.4M | Add +1.3% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 1.90% | 105,964 | $9.2M | Reduce -8.5% |
| VZ Verizon Communications Inc. | 1.81% | 200,345 | $8.8M | Reduce -11.2% |
| XOM Exxon Mobil Corp. | 1.79% | 77,153 | $8.7M | Reduce -1.3% |
| UTF Cohen & Steers Infrastructur | 1.74% | 341,758 | $8.5M | Reduce -30.2% |
| NVDA Nvidia Corp. | 1.70% | 44,339 | $8.3M | Reduce -1.6% |
| PDBC Invesco Optimum Yield Divers | 1.69% | 614,087 | $8.2M | Reduce -16.0% |
| QQQ Invesco QQQ Trust Series 1 | 1.67% | 13,564 | $8.1M | New |
| ANET Arista Networks Inc. | 1.66% | 55,342 | $8.1M | New |
| TSLA Tesla Inc. | 1.65% | 18,072 | $8.0M | Add +935.0% |
| C Citigroup Inc. | 1.59% | 76,016 | $7.7M | Add +77.3% |
| LLY Eli Lilly & Co. | 1.54% | 9,839 | $7.5M | Add +2.0% |
| EQT Eqt Corp. | 1.41% | 126,156 | $6.9M | Add +130.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.38% | 58,664 | $6.7M | Reduce -17.4% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.30% | 122,393 | $6.3M | Add +3.5% |
| NKE Nike Inc. Class B | 1.26% | 88,034 | $6.1M | Add +0.7% |
| CRWD CrowdStrike Holdings Inc. Class A | 1.23% | 12,207 | $6.0M | Add +1479.2% |
| ETN Eaton Corp. PLC | 1.21% | 15,679 | $5.9M | Add +881.2% |
| EWZ iShares MSCI Brazil ETF | 1.11% | 173,953 | $5.4M | Add +1.6% |
| CELH Celsius Holdings Inc. | 0.99% | 84,125 | $4.8M | Add +50.7% |
| ROKU Roku Inc. | 0.96% | 46,799 | $4.7M | Add +1.3% |
| PHO Invesco Water Resources ETF | 0.93% | 63,075 | $4.5M | Reduce -0.1% |
| DKNG Draftkings Inc. Class A | 0.92% | 120,101 | $4.5M | New |
| JPM JPMorgan Chase & Co. | 0.91% | 14,092 | $4.4M | Reduce -1.5% |
| ROK Rockwell Automation Inc. | 0.86% | 11,929 | $4.2M | Reduce -25.6% |
| REGN Regeneron Pharmaceuticals | 0.80% | 6,893 | $3.9M | Reduce -7.0% |
| BLK BlackRock Inc. | 0.78% | 3,268 | $3.8M | Add +3.7% |
| XLF SS Financial Select Sector | 0.78% | 70,604 | $3.8M | New |
| FCX Freeport-McMoran Inc. | 0.76% | 93,876 | $3.7M | Reduce -3.3% |
| TSM Taiwan Semiconductor-SP ADR | 0.75% | 13,054 | $3.6M | New |
| AGG iShares Core U.S. Aggregate | 0.73% | 35,606 | $3.6M | Add +42.9% |
| PICK iShares MSCI Global Metals & | 0.72% | 79,233 | $3.5M | Add +4.0% |
| AMD Advanced Micro Devices | 0.72% | 21,637 | $3.5M | New |
| HD Home Depot Inc. | 0.72% | 8,598 | $3.5M | Add +76.2% |
| COST Costco Wholesale Corp. | 0.71% | 3,753 | $3.5M | Reduce -26.1% |
| SNOW Snowflake Inc. | 0.70% | 15,026 | $3.4M | Add +992.8% |
| XYL Xylem Inc. | 0.67% | 22,212 | $3.3M | New |
| XLI SS Industrial Select Sector | 0.67% | 21,117 | $3.3M | Add +141.1% |
| ALB Albemarle Corp. | 0.66% | 39,878 | $3.2M | New |
| BX Blackstone Inc. | 0.66% | 18,822 | $3.2M | Add +1130.2% |
| CVX Chevron Corp. | 0.65% | 20,275 | $3.1M | Add +4.1% |
| IVOO Vanguard S&P Mid-Cap 400 ETF | 0.59% | 26,223 | $2.9M | New |
| LIN Linde PLC | 0.58% | 5,989 | $2.8M | New |
| EOG EOG Resources Inc. | 0.58% | 24,976 | $2.8M | Reduce -0.4% |
| SOFI Sofi Technologies Inc. | 0.56% | 102,236 | $2.7M | New |
| XYZ Block Inc. | 0.53% | 35,378 | $2.6M | New |
| NFLX Netflix Inc. | 0.50% | 2,028 | $2.4M | Reduce -28.3% |
| GOOG Alphabet Inc. Class C | 0.50% | 9,948 | $2.4M | Reduce -1.7% |
| CSCO Cisco Systems Inc. | 0.46% | 32,639 | $2.2M | Add +8.2% |
| GS Goldman Sachs Group Inc. | 0.42% | 2,561 | $2.0M | Reduce -0.6% |
| AVGO Broadcom Inc. | 0.41% | 6,031 | $2.0M | Reduce -47.7% |
| XLV SS Health Care Select Sector | 0.40% | 14,019 | $2.0M | Reduce -67.2% |
| MAR Marriott International Class A | 0.40% | 7,386 | $1.9M | Reduce -1.5% |
| ULTA Ulta Beauty Inc. | 0.38% | 3,404 | $1.9M | New |
| LRCX Lam Research Corp. | 0.38% | 13,870 | $1.9M | Add +11.4% |
| XLB SS Materials Select Sector | 0.38% | 20,361 | $1.8M | Add +1.3% |
| BA The Boeing Co. | 0.36% | 8,129 | $1.8M | Reduce -1.4% |
| MCD McDonald's Corp. | 0.33% | 5,357 | $1.6M | Reduce -3.8% |
| V Visa Inc. Class A | 0.31% | 4,411 | $1.5M | Reduce -2.6% |
| IBIT iShares Bitcoin Trust ETF | 0.29% | 21,606 | $1.4M | New |
| PANW Palo Alto Networks Inc. | 0.24% | 5,815 | $1.2M | Add +34.7% |
| BCAL California Bancorp | 0.22% | 65,442 | $1.1M | Reduce -5.2% |
| VOO Vanguard S&P 500 ETF | 0.21% | 1,702 | $1.0M | Reduce -6.0% |
| DVN Devon Energy Corp. | 0.21% | 29,635 | $1.0M | Add +0.6% |
| HACK Amplify Cybersecurity ETF | 0.21% | 11,854 | $1.0M | Add +2.1% |
| SO The Southern Co. | 0.20% | 10,375 | $983K | No change |
| WMB Williams Cos Inc. | 0.17% | 13,317 | $844K | Add +1.8% |
| USFR Wisdomtree Floating Rate Tre | 0.17% | 16,239 | $816K | Add +53.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.16% | 1,182 | $787K | Reduce -22.9% |
| VRT Vertiv Holdings Co. Class A | 0.16% | 5,035 | $760K | Reduce -0.2% |
| GBTC Grayscale Bitcoin Trust ETF | 0.15% | 8,372 | $752K | Reduce -5.1% |
| PFE Pfizer Inc. | 0.15% | 28,471 | $725K | Reduce -4.4% |
| TT Trane Technologies PLC | 0.15% | 1,709 | $721K | Reduce -0.3% |
| DLTR Dollar Tree Inc. | 0.14% | 7,382 | $697K | Reduce -2.7% |
| BHP BHP Group Ltd.-Spon ADR | 0.14% | 11,957 | $667K | New |
| INDA iShares MSCI India ETF | 0.12% | 11,400 | $593K | Add +4.3% |
| XLK SS Technology Select Sector | 0.12% | 2,090 | $589K | Add +93.7% |
| FBT First Trust Nyse Arca Biotec | 0.12% | 3,200 | $574K | Add +1.8% |
| ESLT Elbit Systems Ltd. | 0.11% | 1,050 | $535K | New |
| WFC Wells Fargo & Co. | 0.09% | 5,504 | $461K | No change |
| VIG Vanguard Dividend Apprec ETF | 0.09% | 2,050 | $442K | No change |
| ABBV Abbvie Inc. | 0.09% | 1,889 | $437K | Reduce -2.6% |
| MRK Merck & Co. Inc. | 0.09% | 5,012 | $421K | Reduce -87.3% |
| ABT Abbott Laboratories | 0.09% | 3,098 | $415K | Add +0.3% |
| NEE Nextera Energy Inc. | 0.09% | 5,476 | $413K | No change |
| WMT Walmart Inc. | 0.08% | 3,989 | $411K | Reduce -1.6% |
| VTI VG Morningstar TS MKT ETF-US | 0.08% | 1,200 | $394K | New |
| UL Unilever PLC | 0.08% | 6,606 | $392K | Reduce -95.9% |
| RTX RTX Corp. | 0.08% | 2,287 | $383K | Add +36.0% |
Portfolio Sells Q2 2025 → Q3 2025
| UL Unilever PLC | Reduce -95.9% | 0.08% | −2.38 |
| FEZ State Street SPDR Euro Stoxx | Sold out | 0.00% | −1.98 |
| UTF Cohen & Steers Infrastructur | Reduce -30.2% | 1.74% | −1.58 |
| TGT Target Corp. | Sold out | 0.00% | −1.45 |
| PROSHARES TR | Sold out | 0.00% | −1.33 |
| AMZN Amazon.com Inc. | Reduce -1.5% | 4.74% | −1.15 |
| XLV SS Health Care Select Sector | Reduce -67.2% | 0.40% | −1.05 |
| DIS The Walt Disney Co. | Reduce -17.4% | 1.38% | −0.84 |
| KO The Coca-Cola Co. | Reduce -7.7% | 2.00% | −0.83 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.82 |
| PDBC Invesco Optimum Yield Divers | Reduce -16.0% | 1.69% | −0.71 |
| MRK Merck & Co. Inc. | Reduce -87.3% | 0.09% | −0.70 |
| VZ Verizon Communications Inc. | Reduce -11.2% | 1.81% | −0.65 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −0.64 |
| LMT Lockheed Martin Corp. | Reduce -12.9% | 2.06% | −0.63 |
| COST Costco Wholesale Corp. | Reduce -26.1% | 0.71% | −0.55 |
| ROK Rockwell Automation Inc. | Reduce -25.6% | 0.86% | −0.48 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Reduce -8.5% | 1.90% | −0.48 |
| NFLX Netflix Inc. | Reduce -28.3% | 0.50% | −0.45 |
| AVGO Broadcom Inc. | Reduce -47.7% | 0.41% | −0.39 |
| GLD SPDR Gold Shares | Reduce -2.7% | 4.94% | −0.39 |
| XOM Exxon Mobil Corp. | Reduce -1.3% | 1.79% | −0.33 |
| FCX Freeport-McMoran Inc. | Reduce -3.3% | 0.76% | −0.30 |
| CPT Camden Property Trust | Sold out | 0.00% | −0.23 |
| REGN Regeneron Pharmaceuticals | Reduce -7.0% | 0.80% | −0.18 |
| EOG EOG Resources Inc. | Reduce -0.4% | 0.58% | −0.18 |
| PHO Invesco Water Resources ETF | Reduce -0.1% | 0.93% | −0.18 |
| JPM JPMorgan Chase & Co. | Reduce -1.5% | 0.91% | −0.13 |
| IEF iShares 7-10 Year Treasury B | Sold out | 0.00% | −0.13 |
| MAR Marriott International Class A | Reduce -1.5% | 0.40% | −0.12 |
| V Visa Inc. Class A | Reduce -2.6% | 0.31% | −0.10 |
| CRSP Crispr Therapeutics AG | Sold out | 0.00% | −0.09 |
| NVDA Nvidia Corp. | Reduce -1.6% | 1.70% | −0.09 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -22.9% | 0.16% | −0.08 |
| MCD McDonald's Corp. | Reduce -3.8% | 0.33% | −0.08 |
| BA The Boeing Co. | Reduce -1.4% | 0.36% | −0.07 |
| JNJ Johnson & Johnson | Reduce -2.3% | 2.24% | −0.07 |
| UPS United Parcel Service Class B | Sold out | 0.00% | −0.05 |
| BCAL California Bancorp | Reduce -5.2% | 0.22% | −0.05 |
| DLTR Dollar Tree Inc. | Reduce -2.7% | 0.14% | −0.05 |
| VOO Vanguard S&P 500 ETF | Reduce -6.0% | 0.21% | −0.04 |
| TT Trane Technologies PLC | Reduce -0.3% | 0.15% | −0.04 |
| GS Goldman Sachs Group Inc. | Reduce -0.6% | 0.42% | −0.04 |
| GBTC Grayscale Bitcoin Trust ETF | Reduce -5.1% | 0.15% | −0.03 |
| PFE Pfizer Inc. | Reduce -4.4% | 0.15% | −0.03 |
| ADBE Adobe Inc. | Reduce -11.2% | 0.06% | −0.03 |
| CB Chubb Ltd. | Reduce -12.0% | 0.06% | −0.02 |
| PG The Procter & Gamble Co. | Reduce -2.2% | 0.07% | −0.02 |
| XLRE SS Real Estate Select Sector | Reduce -8.4% | 0.06% | −0.02 |
| APD Air Products & Chemicals Inc. | Reduce -2.4% | 0.06% | −0.02 |
Portfolio Buys Q2 2025 → Q3 2025
| IWM iShares Russell 2000 ETF | New | 2.68% | +2.68 |
| QQQ Invesco QQQ Trust Series 1 | New | 1.67% | +1.67 |
| ANET Arista Networks Inc. | New | 1.66% | +1.66 |
| META Meta Platforms Inc. Class A | Add +488.4% | 2.06% | +1.63 |
| TSLA Tesla Inc. | Add +935.0% | 1.65% | +1.51 |
| GOOGL Alphabet Inc. Class A | Add +23.3% | 4.60% | +1.29 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +1479.2% | 1.23% | +1.13 |
| ETN Eaton Corp. PLC | Add +881.2% | 1.21% | +1.06 |
| DKNG Draftkings Inc. Class A | New | 0.92% | +0.92 |
| XLF SS Financial Select Sector | New | 0.78% | +0.78 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.75% | +0.75 |
| AMD Advanced Micro Devices | New | 0.72% | +0.72 |
| XYL Xylem Inc. | New | 0.67% | +0.67 |
| C Citigroup Inc. | Add +77.3% | 1.59% | +0.67 |
| ALB Albemarle Corp. | New | 0.66% | +0.66 |
| SNOW Snowflake Inc. | Add +992.8% | 0.70% | +0.62 |
| EQT Eqt Corp. | Add +130.4% | 1.41% | +0.61 |
| BX Blackstone Inc. | Add +1130.2% | 0.66% | +0.60 |
| IVOO Vanguard S&P Mid-Cap 400 ETF | New | 0.59% | +0.59 |
| LIN Linde PLC | New | 0.58% | +0.58 |
| SOFI Sofi Technologies Inc. | New | 0.56% | +0.56 |
| XYZ Block Inc. | New | 0.53% | +0.53 |
| ULTA Ulta Beauty Inc. | New | 0.38% | +0.38 |
| XLI SS Industrial Select Sector | Add +141.1% | 0.67% | +0.34 |
| CELH Celsius Holdings Inc. | Add +50.7% | 0.99% | +0.34 |
| IBIT iShares Bitcoin Trust ETF | New | 0.29% | +0.29 |
| HD Home Depot Inc. | Add +76.2% | 0.72% | +0.27 |
| AAPL Apple Inc. | Add +1.4% | 8.11% | +0.21 |
| BHP BHP Group Ltd.-Spon ADR | New | 0.14% | +0.14 |
| AGG iShares Core U.S. Aggregate | Add +42.9% | 0.73% | +0.11 |
| ESLT Elbit Systems Ltd. | New | 0.11% | +0.11 |
| VTI VG Morningstar TS MKT ETF-US | New | 0.08% | +0.08 |
| LRCX Lam Research Corp. | Add +11.4% | 0.38% | +0.08 |
| INTC Intel Corp. | New | 0.06% | +0.06 |
| GDX Vaneck Gold Miners ETF | New | 0.06% | +0.06 |
| OKLO Oklo Inc. | New | 0.05% | +0.05 |
| XLK SS Technology Select Sector | Add +93.7% | 0.12% | +0.05 |
| NET Cloudflare Inc. Class A | New | 0.05% | +0.05 |
| CHKP Check Point Software Tech | New | 0.05% | +0.05 |
| SPMO Invesco S&P 500 Momentum ETF | New | 0.04% | +0.04 |
| WIX Wix.com Ltd. | New | 0.04% | +0.04 |
| AMX America Movil Sab DE CV | New | 0.04% | +0.04 |
| CRDO Credo Technology Group Holdi | New | 0.04% | +0.04 |
| GEV GE Vernova Inc. | New | 0.04% | +0.04 |
| USFR Wisdomtree Floating Rate Tre | Add +53.6% | 0.17% | +0.03 |
| PANW Palo Alto Networks Inc. | Add +34.7% | 0.24% | +0.02 |
| RTX RTX Corp. | Add +36.0% | 0.08% | +0.02 |
| MDT Medtronic PLC | Add +43.5% | 0.06% | +0.01 |
| XLY SS Consumer Disc Select Sect | Add +33.6% | 0.06% | +0.01 |
| PICK iShares MSCI Global Metals & | Add +4.0% | 0.72% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q1 2026 | 128 | $495.0M | AAPL, GLD, GOOGL, AMZN, JNJ |
| Q4 2025 | 133 | $518.3M | AAPL, GOOGL, AMZN, GLD, MSFT |
| Q3 2025 | 129 | $486.6M | AAPL, GLD, AMZN, GOOGL, MSFT |
| Q2 2025 | 110 | $397.2M | AAPL, AMZN, GLD, MSFT, UTF |
| Q1 2025 | 102 | $392.8M | GLD, AAPL, AMZN, UTF, KO |
| Q4 2024 | 107 | $403.6M | AAPL, GLD, AMZN, GOOGL, MSFT |
| Q3 2024 | 101 | $418.5M | GLD, AAPL, LMT, AMZN, XLV |
| Q2 2024 | 96 | $414.7M | AAPL, GLD, AMZN, MSFT, XLV |
| Q1 2024 | 96 | $400.1M | GLD, AAPL, AMZN, XLV, LMT |