Bell Bank
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 18, 2025), Bell Bank reported 186 stock positions worth $1.9 billion. Its top holding was iShares Core MSCI Eafe ETF (IEFA) at 12.4% of the portfolio, followed by Vanguard Mrngstr Val ETF-Aui (VTV, 11.5%) and Vanguard Mrngstar GR ETF-Sui (VUG, 11.2%). Compared with Q4 2024, it opened 8 new positions, sold out of 12, added to 75 and reduced 57. The biggest buy was a new position in Vanguard Mrngstr Val ETF-Aui (VTV) and the biggest sale iShares Core MSCI Eafe ETF (IEFA, shares −15%).
- Most Recent 13F
- Q2 2026
- Location
- FARGO, ND
- CIK
- 0001002672
- Portfolio Value
- $1.9B (Q1 2025)
- SEC Filing
- 0001062993-25-007666 ↗ filed Apr 18, 2025
Holdings Value
Holdings 186 stocks · $1.9B
| IEFA iShares Core MSCI Eafe ETF | 12.37% | 3,029,980 | $229.2M | Reduce -14.6% |
| VTV Vanguard Mrngstr Val ETF-Aui | 11.50% | 1,233,208 | $213.0M | New |
| VUG Vanguard Mrngstar GR ETF-Sui | 11.22% | 560,420 | $207.8M | New |
| QQQ Invesco QQQ Trust Series 1 | 9.66% | 381,672 | $179.0M | Add +0.2% |
| VOO Vanguard S&P 500 ETF | 4.94% | 177,995 | $91.5M | Add +12.6% |
| VYM Vanguard High DVD Yield ETF | 4.74% | 680,876 | $87.8M | Reduce -2.2% |
| SPYV SS SPDR P S&P 500 Value ETF | 3.98% | 1,441,969 | $73.6M | Add +15.1% |
| BILS SS Spdrb B 3-12M T-Bill ETF | 3.32% | 618,143 | $61.5M | Reduce -1.3% |
| AGG iShares Core U.S. Aggregate | 2.94% | 551,354 | $54.5M | Add +6.8% |
| VTI VG Morningstar TS MKT ETF-US | 2.35% | 158,685 | $43.6M | Add +1783.3% |
| IJH iShares Core S&P Midcap ETF | 2.09% | 662,366 | $38.6M | New |
| NVDA Nvidia Corp. | 1.20% | 204,306 | $22.1M | Reduce -0.7% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 1.18% | 238,223 | $21.9M | Reduce -20.5% |
| VMBS Vanguard Mortgage-Backed Sec | 1.16% | 462,997 | $21.4M | Add +95.7% |
| AAPL Apple Inc. | 0.84% | 70,206 | $15.6M | Reduce -3.4% |
| ABBV Abbvie Inc. | 0.83% | 73,770 | $15.5M | Add +0.8% |
| IJR iShares Core S&P Small-Cap E | 0.78% | 138,411 | $14.5M | New |
| MSFT Microsoft Corp. | 0.76% | 37,535 | $14.1M | Add +6.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.76% | 25,000 | $14.0M | Add +1.1% |
| GILD Gilead Sciences Inc. | 0.70% | 116,162 | $13.0M | Reduce -1.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.69% | 51,550 | $12.8M | Add +0.4% |
| CSCO Cisco Systems Inc. | 0.69% | 205,706 | $12.7M | Add +1.6% |
| AMZN Amazon.com Inc. | 0.68% | 65,806 | $12.5M | Add +5.5% |
| SO The Southern Co. | 0.62% | 125,073 | $11.5M | Add +2.7% |
| ARCC Ares Capital Corp. | 0.60% | 500,498 | $11.1M | Add +3.4% |
| META Meta Platforms Inc. Class A | 0.60% | 19,240 | $11.1M | Add +10.1% |
| T AT&T Inc. | 0.59% | 384,065 | $10.9M | Add +1.5% |
| DUK Duke Energy Corp. | 0.58% | 87,629 | $10.7M | Add +3.7% |
| XOM Exxon Mobil Corp. | 0.55% | 86,417 | $10.3M | Add +3.7% |
| AMGN Amgen Inc. | 0.53% | 31,470 | $9.8M | Add +2.4% |
| PFE Pfizer Inc. | 0.50% | 366,542 | $9.3M | Add +10.5% |
| RIO Rio Tinto PLC-Spon ADR | 0.50% | 154,036 | $9.3M | Add +8.3% |
| CVX Chevron Corp. | 0.50% | 55,017 | $9.2M | Add +4.1% |
| HBAN Huntington Bancshares Inc. | 0.48% | 597,553 | $9.0M | Add +7.0% |
| PRU Prudential Financial Inc. | 0.48% | 79,039 | $8.8M | Add +7.2% |
| VZ Verizon Communications Inc. | 0.47% | 193,656 | $8.8M | Add +4.9% |
| TRP TC Energy Corp. | 0.47% | 184,909 | $8.7M | Add +5.2% |
| CAG Conagra Brands Inc. | 0.45% | 310,831 | $8.3M | Add +9.9% |
| UPS United Parcel Service Class B | 0.44% | 74,230 | $8.2M | Add +9.5% |
| ADM Archer-Daniels-Midland Co. | 0.43% | 167,536 | $8.0M | Add +11.0% |
| KHC The Kraft Heinz Co. | 0.43% | 263,405 | $8.0M | Add +10.9% |
| GSK GSK PLC-Spon ADR | 0.41% | 195,082 | $7.6M | Add +7.5% |
| LYB Lyondellbasell Indu Class A | 0.41% | 106,802 | $7.5M | Add +12.7% |
| USB US Bancorp | 0.39% | 172,158 | $7.3M | Add +2876.4% |
| KMI Kinder Morgan Inc. | 0.39% | 254,375 | $7.3M | Add +5.6% |
| CCI Crown Castle Inc. | 0.39% | 68,836 | $7.2M | Add +7.4% |
| UL Unilever PLC | 0.39% | 119,753 | $7.1M | Add +7.1% |
| STX Seagate Technology Holdings | 0.37% | 81,170 | $6.9M | Add +5.6% |
| GOOGL Alphabet Inc. Class A | 0.36% | 43,652 | $6.8M | Add +9.8% |
| DOW Dow Inc. | 0.36% | 189,766 | $6.6M | Add +17.7% |
| KMB Kimberly-Clark Corp. | 0.34% | 44,547 | $6.3M | Add +3.6% |
| GOOG Alphabet Inc. Class C | 0.31% | 36,594 | $5.7M | Add +11.8% |
| HPE Hewlett Packard Enterprise | 0.29% | 342,371 | $5.3M | Add +86.3% |
| V Visa Inc. Class A | 0.27% | 14,470 | $5.1M | Add +0.5% |
| JPM JPMorgan Chase & Co. | 0.25% | 18,749 | $4.6M | Add +1.9% |
| VTRS Viatris Inc. | 0.25% | 526,896 | $4.6M | Add +10.4% |
| MCD McDonald's Corp. | 0.22% | 12,821 | $4.0M | Add +1.0% |
| TSLA Tesla Inc. | 0.21% | 14,956 | $3.9M | Add +9.2% |
| EXR Extra Space Storage Inc. | 0.20% | 24,375 | $3.6M | No change |
| MA Mastercard Inc. Class A | 0.18% | 6,083 | $3.3M | Add +7.1% |
| AVGO Broadcom Inc. | 0.17% | 18,647 | $3.1M | Add +45.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.13% | 4,609 | $2.5M | Add +0.6% |
| COST Costco Wholesale Corp. | 0.13% | 2,551 | $2.4M | Add +7.6% |
| AFL Aflac Inc. | 0.12% | 20,028 | $2.2M | No change |
| WM Waste Management Inc. | 0.12% | 9,582 | $2.2M | No change |
| PSA Public Storage | 0.12% | 7,406 | $2.2M | No change |
| CRM Salesforce Inc. | 0.12% | 7,940 | $2.1M | Reduce -7.6% |
| JEPI JPMorgan Equity Premium Inco | 0.11% | 35,272 | $2.0M | Reduce -24.7% |
| HD Home Depot Inc. | 0.11% | 5,319 | $1.9M | Add +5.4% |
| NFLX Netflix Inc. | 0.10% | 2,048 | $1.9M | Reduce -2.1% |
| IRT Independence Realty Trust Inc. | 0.10% | 88,006 | $1.9M | No change |
| VEA Vanguard Ftse Developed ETF | 0.10% | 36,501 | $1.9M | Add +3.6% |
| WMT Walmart Inc. | 0.09% | 19,877 | $1.7M | Add +80.9% |
| PG The Procter & Gamble Co. | 0.09% | 9,964 | $1.7M | Reduce -1.6% |
| KO The Coca-Cola Co. | 0.09% | 23,611 | $1.7M | Reduce -9.6% |
| SPHQ Invesco S&P 500 Quality ETF | 0.09% | 24,688 | $1.6M | No change |
| UNH Unitedhealth Group Inc. | 0.09% | 3,113 | $1.6M | Reduce -57.5% |
| INTC Intel Corp. | 0.09% | 69,685 | $1.6M | Reduce -1.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.08% | 9,032 | $1.5M | Add +34.0% |
| HEI Heico Corp. | 0.08% | 5,592 | $1.5M | Reduce -23.2% |
| JPST JPMorgan Ultra-Short Income | 0.08% | 29,394 | $1.5M | Reduce -30.0% |
| DFUS Dimensional US Eq MKT ETF | 0.08% | 24,583 | $1.5M | Add +0.5% |
| ESGV Vanguard ESG US Stock ETF | 0.07% | 13,971 | $1.4M | Reduce -7.7% |
| LLY Eli Lilly & Co. | 0.07% | 1,596 | $1.3M | Add +6.6% |
| DE Deere & Co. | 0.07% | 2,686 | $1.3M | Add +3.7% |
| BMY Bristol-Myers Squibb Co. | 0.07% | 20,101 | $1.2M | Reduce -0.5% |
| LOW Lowe's Cos Inc. | 0.06% | 4,872 | $1.1M | Add +3.6% |
| XLF SS Financial Select Sector | 0.06% | 22,347 | $1.1M | No change |
| FAST Fastenal Co. | 0.06% | 14,274 | $1.1M | Reduce -22.6% |
| FTNT Fortinet Inc. | 0.06% | 11,190 | $1.1M | Add +25.5% |
| ADI Analog Devices Inc. | 0.06% | 5,266 | $1.1M | Reduce -23.9% |
| CSGP Costar Group Inc. | 0.06% | 13,396 | $1.1M | Reduce -25.1% |
| TYL Tyler Technologies Inc. | 0.06% | 1,816 | $1.1M | Reduce -22.8% |
| ALL Allstate Corp. | 0.06% | 4,920 | $1.0M | Reduce -2.8% |
| MMM 3M Co. | 0.05% | 6,722 | $987K | Reduce -0.0% |
| TMO Thermo Fisher Scientific Inc. | 0.05% | 1,979 | $985K | Add +10.6% |
| AMD Advanced Micro Devices | 0.05% | 9,572 | $983K | Add +6.7% |
| NOW ServiceNow Inc. | 0.05% | 1,226 | $976K | Reduce -19.1% |
| SCHD Schwab US DVD Equity ETF | 0.05% | 34,061 | $952K | Reduce -22.3% |
| AMAT Applied Materials Inc. | 0.05% | 6,362 | $923K | Add +45.3% |
Portfolio Sells Q4 2024 → Q1 2025
| IEFA iShares Core MSCI Eafe ETF | Reduce -14.6% | 12.37% | −6.17 |
| VYM Vanguard High DVD Yield ETF | Reduce -2.2% | 4.74% | −1.87 |
| BILS SS Spdrb B 3-12M T-Bill ETF | Reduce -1.3% | 3.32% | −1.30 |
| NVDA Nvidia Corp. | Reduce -0.7% | 1.20% | −0.86 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -20.5% | 1.18% | −0.86 |
| AAPL Apple Inc. | Reduce -3.4% | 0.84% | −0.51 |
| AGNC AGNC Investment Corp. | Sold out | 0.00% | −0.40 |
| UNH Unitedhealth Group Inc. | Reduce -57.5% | 0.09% | −0.19 |
| NLY Annaly Capital Management Inc. | Sold out | 0.00% | −0.17 |
| GILD Gilead Sciences Inc. | Reduce -1.7% | 0.70% | −0.11 |
| CRM Salesforce Inc. | Reduce -7.6% | 0.12% | −0.10 |
| JEPI JPMorgan Equity Premium Inco | Reduce -24.7% | 0.11% | −0.09 |
| GLOB Globant SA | Sold out | 0.00% | −0.08 |
| WST West Pharmaceutical Services | Reduce -75.9% | 0.01% | −0.08 |
| JPST JPMorgan Ultra-Short Income | Reduce -30.0% | 0.08% | −0.08 |
| NOW ServiceNow Inc. | Reduce -19.1% | 0.05% | −0.07 |
| VEEV Veeva Systems Inc. Class A | Reduce -74.7% | 0.02% | −0.07 |
| DHR Danaher Corp. | Reduce -56.7% | 0.02% | −0.06 |
| ROL Rollins Inc. | Reduce -75.6% | 0.02% | −0.06 |
| MRK Merck & Co. Inc. | Reduce -64.5% | 0.02% | −0.06 |
| ADI Analog Devices Inc. | Reduce -23.9% | 0.06% | −0.05 |
| HEI Heico Corp. | Reduce -23.2% | 0.08% | −0.05 |
| ESGV Vanguard ESG US Stock ETF | Reduce -7.7% | 0.07% | −0.04 |
| TYL Tyler Technologies Inc. | Reduce -22.8% | 0.06% | −0.04 |
| TTD Trade Desk Inc./the Class A | Reduce -25.6% | 0.01% | −0.04 |
| SBUX Starbucks Corp. | Reduce -54.9% | 0.02% | −0.04 |
| FAST Fastenal Co. | Reduce -22.6% | 0.06% | −0.04 |
| CSGP Costar Group Inc. | Reduce -25.1% | 0.06% | −0.04 |
| SCHD Schwab US DVD Equity ETF | Reduce -22.3% | 0.05% | −0.04 |
| SPGI S&P Global Inc. | Reduce -22.6% | 0.05% | −0.04 |
| NFLX Netflix Inc. | Reduce -2.1% | 0.10% | −0.04 |
| PG The Procter & Gamble Co. | Reduce -1.6% | 0.09% | −0.03 |
| BND Vanguard Total Bond Market | Sold out | 0.00% | −0.03 |
| ANSS Ansys Inc. | Reduce -24.7% | 0.03% | −0.03 |
| KO The Coca-Cola Co. | Reduce -9.6% | 0.09% | −0.03 |
| SCMB Schwab Municipal Bond ETF | Sold out | 0.00% | −0.02 |
| FICO Fair Isaac Corp. | Reduce -21.7% | 0.02% | −0.02 |
| ACN Accenture PLC Class A | Reduce -15.1% | 0.03% | −0.02 |
| MDY State Street SPDR S&P Midcap | Reduce -4.5% | 0.04% | −0.02 |
| VRSK Verisk Analytics Inc. | Sold out | 0.00% | −0.02 |
| INTC Intel Corp. | Reduce -1.5% | 0.09% | −0.02 |
| PH Parker Hannifin Corp. | Reduce -6.7% | 0.04% | −0.02 |
| BMY Bristol-Myers Squibb Co. | Reduce -0.5% | 0.07% | −0.02 |
| ALL Allstate Corp. | Reduce -2.8% | 0.06% | −0.02 |
| MS Morgan Stanley | Reduce -3.6% | 0.03% | −0.02 |
| SUSA iShares ESG Optimized MSCI U | Reduce -7.0% | 0.03% | −0.02 |
| NXPI NXP Semiconductors NV | Reduce -2.0% | 0.03% | −0.02 |
| ORCL Oracle Corp. | Reduce -1.9% | 0.02% | −0.02 |
| IYW iShares Ustechnology ETF | Sold out | 0.00% | −0.02 |
| SYK Stryker Corp. | Sold out | 0.00% | −0.02 |
Portfolio Buys Q4 2024 → Q1 2025
| VTV Vanguard Mrngstr Val ETF-Aui | New | 11.50% | +11.50 |
| VUG Vanguard Mrngstar GR ETF-Sui | New | 11.22% | +11.22 |
| VTI VG Morningstar TS MKT ETF-US | Add +1783.3% | 2.35% | +2.17 |
| IJH iShares Core S&P Midcap ETF | New | 2.09% | +2.09 |
| IJR iShares Core S&P Small-Cap E | New | 0.78% | +0.78 |
| USB US Bancorp | Add +2876.4% | 0.39% | +0.37 |
| VMBS Vanguard Mortgage-Backed Sec | Add +95.7% | 1.16% | +0.36 |
| BLK BlackRock Inc. | New | 0.03% | +0.03 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +196.3% | 0.04% | +0.02 |
| WMT Walmart Inc. | Add +80.9% | 0.09% | +0.02 |
| SPDW Ste STR SPDR PT DW Eu ETF | New | 0.02% | +0.02 |
| MU Micron Technology Inc. | New | 0.02% | +0.02 |
| DFIV Dimensional International Va | New | 0.01% | +0.01 |
| MOAT Vaneck Morningstar Wide Moat | Add +50.9% | 0.02% | +0.00 |
| AMAT Applied Materials Inc. | Add +45.3% | 0.05% | −0.00 |
| FTNT Fortinet Inc. | Add +25.5% | 0.06% | −0.00 |
| IWR iShares Russell Mid-Cap ETF | Add +12.7% | 0.02% | −0.01 |
| IEMG iShares Core MSCI Emerging | Add +5.1% | 0.02% | −0.01 |
| HPE Hewlett Packard Enterprise | Add +86.3% | 0.29% | −0.01 |
| FDL First Trust Morn DVD Lead Inc. | Add +5.9% | 0.03% | −0.01 |
| IWM iShares Russell 2000 ETF | Add +3.8% | 0.02% | −0.01 |
| PLTR Palantir Technologies Inc. Class A | Add +0.3% | 0.04% | −0.01 |
| QCOM Qualcomm Inc. | Add +8.4% | 0.03% | −0.01 |
| LMT Lockheed Martin Corp. | Add +6.5% | 0.03% | −0.01 |
| DE Deere & Co. | Add +3.7% | 0.07% | −0.01 |
| ADBE Adobe Inc. | Add +7.3% | 0.03% | −0.01 |
| LLY Eli Lilly & Co. | Add +6.6% | 0.07% | −0.01 |
| TMO Thermo Fisher Scientific Inc. | Add +10.6% | 0.05% | −0.02 |
| BAC Bank of America Corp. | Add +0.1% | 0.04% | −0.02 |
| TSM Taiwan Semiconductor-SP ADR | Add +34.0% | 0.08% | −0.02 |
| JEPQ JPM Nasdaq Equity Premium | Add +1.8% | 0.05% | −0.02 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.6% | 0.13% | −0.02 |
| LOW Lowe's Cos Inc. | Add +3.6% | 0.06% | −0.03 |
| VEA Vanguard Ftse Developed ETF | Add +3.6% | 0.10% | −0.03 |
| AMD Advanced Micro Devices | Add +6.7% | 0.05% | −0.03 |
| COST Costco Wholesale Corp. | Add +7.6% | 0.13% | −0.03 |
| DFUS Dimensional US Eq MKT ETF | Add +0.5% | 0.08% | −0.04 |
| HD Home Depot Inc. | Add +5.4% | 0.11% | −0.04 |
| MA Mastercard Inc. Class A | Add +7.1% | 0.18% | −0.04 |
| CCI Crown Castle Inc. | Add +7.4% | 0.39% | −0.05 |
| GSK GSK PLC-Spon ADR | Add +7.5% | 0.41% | −0.05 |
| AVGO Broadcom Inc. | Add +45.7% | 0.17% | −0.05 |
| T AT&T Inc. | Add +1.5% | 0.59% | −0.05 |
| MCD McDonald's Corp. | Add +1.0% | 0.22% | −0.06 |
| V Visa Inc. Class A | Add +0.5% | 0.27% | −0.06 |
| AMGN Amgen Inc. | Add +2.4% | 0.53% | −0.07 |
| CVX Chevron Corp. | Add +4.1% | 0.50% | −0.07 |
| VZ Verizon Communications Inc. | Add +4.9% | 0.47% | −0.08 |
| KMB Kimberly-Clark Corp. | Add +3.6% | 0.34% | −0.08 |
| JPM JPMorgan Chase & Co. | Add +1.9% | 0.25% | −0.08 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 195 | $2.6B | VTV, IEFA, VUG, QQQ, RSP |
| Q1 2026 | 188 | $2.4B | IEFA, VTV, VUG, QQQ, RSP |
| Q4 2025 | 194 | $2.3B | IEFA, VTV, VUG, QQQ, RSP |
| Q3 2025 | 198 | $2.3B | IEFA, VUG, VTV, QQQ, VTI |
| Q2 2025 | 198 | $2.1B | IEFA, VUG, VTV, QQQ, VTI |
| Q1 2025 | 186 | $1.9B | IEFA, VTV, VUG, QQQ, VOO |
| Q4 2024 | 190 | $1.3B | IEFA, QQQ, VYM, VOO, SPYV |
| Q3 2024 | 177 | $845.2M | IEFA, QQQ, AGG, VOO, BILS |
| Q2 2024 | 188 | $1.2B | IEFA, QQQ, VYM, VOO, BIL |
| Q1 2024 | 184 | $1.2B | IEFA, QQQ, VYM, VOO, BIL |