Bell Bank
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 11, 2025), Bell Bank reported 198 stock positions worth $2.1 billion. Its top holding was iShares Core MSCI Eafe ETF (IEFA) at 13.1% of the portfolio, followed by Vanguard Mrngstar GR ETF-Sui (VUG, 12.0%) and Vanguard Mrngstr Val ETF-Aui (VTV, 11.6%). Compared with Q1 2025, it opened 18 new positions, sold out of 6, added to 76 and reduced 58. The biggest buy was VG Morningstar TS MKT ETF-US (VTI, shares +118%) and the biggest sale an exit from iShares Core S&P Midcap ETF (IJH).
- Most Recent 13F
- Q2 2026
- Location
- FARGO, ND
- CIK
- 0001002672
- Portfolio Value
- $2.1B (Q2 2025)
- SEC Filing
- 0001062993-25-012735 ↗ filed Jul 11, 2025
Holdings Value
Holdings 198 stocks · $2.1B
| IEFA iShares Core MSCI Eafe ETF | 13.09% | 3,364,915 | $280.9M | Add +11.1% |
| VUG Vanguard Mrngstar GR ETF-Sui | 11.98% | 586,269 | $257.0M | Add +4.6% |
| VTV Vanguard Mrngstr Val ETF-Aui | 11.61% | 1,409,149 | $249.1M | Add +14.3% |
| QQQ Invesco QQQ Trust Series 1 | 9.20% | 357,615 | $197.3M | Reduce -6.3% |
| VTI VG Morningstar TS MKT ETF-US | 4.90% | 346,034 | $105.2M | Add +118.1% |
| VOO Vanguard S&P 500 ETF | 4.80% | 181,275 | $103.0M | Add +1.8% |
| VYM Vanguard High DVD Yield ETF | 4.42% | 711,664 | $94.9M | Add +4.5% |
| SPYV SS SPDR P S&P 500 Value ETF | 3.70% | 1,516,195 | $79.4M | Add +5.2% |
| BILS SS Spdrb B 3-12M T-Bill ETF | 2.46% | 530,257 | $52.7M | Reduce -14.2% |
| AGG iShares Core U.S. Aggregate | 2.45% | 529,906 | $52.6M | Reduce -3.9% |
| RSP Invesco S&P 500 Equal Weight | 2.42% | 286,004 | $52.0M | New |
| BIL SS SPDR BB 1-3M T-Bill ETF | 1.90% | 443,909 | $40.7M | Add +86.3% |
| NVDA Nvidia Corp. | 1.34% | 182,187 | $28.8M | Reduce -10.8% |
| VMBS Vanguard Mortgage-Backed Sec | 0.96% | 446,592 | $20.7M | Reduce -3.5% |
| MSFT Microsoft Corp. | 0.89% | 38,472 | $19.1M | Add +2.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.76% | 26,461 | $16.3M | Add +5.8% |
| AMZN Amazon.com Inc. | 0.68% | 66,032 | $14.5M | Add +0.3% |
| META Meta Platforms Inc. Class A | 0.67% | 19,475 | $14.4M | Add +1.2% |
| AAPL Apple Inc. | 0.67% | 69,834 | $14.3M | Reduce -0.5% |
| ABBV Abbvie Inc. | 0.62% | 71,191 | $13.2M | Reduce -3.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.61% | 44,165 | $13.0M | Reduce -14.3% |
| UPS United Parcel Service Class B | 0.53% | 113,299 | $11.4M | Add +52.6% |
| ARCC Ares Capital Corp. | 0.52% | 504,792 | $11.1M | Add +0.9% |
| VZ Verizon Communications Inc. | 0.50% | 249,761 | $10.8M | Add +29.0% |
| CVX Chevron Corp. | 0.50% | 75,260 | $10.8M | Add +36.8% |
| PFE Pfizer Inc. | 0.49% | 433,983 | $10.5M | Add +18.4% |
| RIO Rio Tinto PLC-Spon ADR | 0.49% | 178,456 | $10.4M | Add +15.8% |
| CSCO Cisco Systems Inc. | 0.48% | 149,621 | $10.4M | Reduce -27.3% |
| STX Seagate Technology Holdings | 0.48% | 71,585 | $10.3M | Reduce -11.8% |
| XOM Exxon Mobil Corp. | 0.46% | 92,105 | $9.9M | Add +6.6% |
| SO The Southern Co. | 0.45% | 104,638 | $9.6M | Reduce -16.3% |
| DUK Duke Energy Corp. | 0.43% | 78,607 | $9.3M | Reduce -10.3% |
| ADM Archer-Daniels-Midland Co. | 0.42% | 172,487 | $9.1M | Add +3.0% |
| T AT&T Inc. | 0.42% | 308,905 | $8.9M | Reduce -19.6% |
| TRP TC Energy Corp. | 0.42% | 183,114 | $8.9M | Reduce -1.0% |
| PRU Prudential Financial Inc. | 0.41% | 82,092 | $8.8M | Add +3.9% |
| HBAN Huntington Bancshares Inc. | 0.41% | 523,977 | $8.8M | Reduce -12.3% |
| KHC The Kraft Heinz Co. | 0.40% | 333,942 | $8.6M | Add +26.8% |
| PEP Pepsico Inc. | 0.40% | 65,092 | $8.6M | Add +2002.5% |
| GILD Gilead Sciences Inc. | 0.40% | 77,196 | $8.6M | Reduce -33.5% |
| AMGN Amgen Inc. | 0.39% | 30,210 | $8.4M | Reduce -4.0% |
| USB US Bancorp | 0.37% | 176,561 | $8.0M | Add +2.6% |
| GOOGL Alphabet Inc. Class A | 0.36% | 44,157 | $7.8M | Add +1.2% |
| KMI Kinder Morgan Inc. | 0.35% | 254,464 | $7.5M | Add +0.0% |
| CCI Crown Castle Inc. | 0.34% | 71,445 | $7.3M | Add +3.8% |
| GSK GSK PLC-Spon ADR | 0.33% | 186,766 | $7.2M | Reduce -4.3% |
| HPE Hewlett Packard Enterprise | 0.33% | 349,575 | $7.1M | Add +2.1% |
| CAG Conagra Brands Inc. | 0.32% | 340,176 | $7.0M | Add +9.4% |
| GOOG Alphabet Inc. Class C | 0.31% | 37,516 | $6.7M | Add +2.5% |
| LYB Lyondellbasell Indu Class A | 0.31% | 114,997 | $6.7M | Add +7.7% |
| KMB Kimberly-Clark Corp. | 0.29% | 48,358 | $6.2M | Add +8.6% |
| JPM JPMorgan Chase & Co. | 0.28% | 20,785 | $6.0M | Add +10.9% |
| UL Unilever PLC | 0.28% | 96,432 | $5.9M | Reduce -19.5% |
| DOW Dow Inc. | 0.27% | 219,755 | $5.8M | Add +15.8% |
| V Visa Inc. Class A | 0.26% | 15,663 | $5.6M | Add +8.2% |
| VTRS Viatris Inc. | 0.25% | 590,228 | $5.3M | Add +12.0% |
| AVGO Broadcom Inc. | 0.24% | 18,953 | $5.2M | Add +1.6% |
| TSLA Tesla Inc. | 0.18% | 12,453 | $4.0M | Reduce -16.7% |
| MCD McDonald's Corp. | 0.18% | 12,989 | $3.8M | Add +1.3% |
| EXR Extra Space Storage Inc. | 0.17% | 24,375 | $3.6M | No change |
| MA Mastercard Inc. Class A | 0.16% | 6,251 | $3.5M | Add +2.8% |
| NFLX Netflix Inc. | 0.13% | 2,102 | $2.8M | Add +2.6% |
| COST Costco Wholesale Corp. | 0.12% | 2,634 | $2.6M | Add +3.3% |
| VEA Vanguard Ftse Developed ETF | 0.10% | 38,577 | $2.2M | Add +5.7% |
| WM Waste Management Inc. | 0.10% | 9,581 | $2.2M | Reduce -0.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.10% | 4,512 | $2.2M | Reduce -2.1% |
| PSA Public Storage | 0.10% | 7,406 | $2.2M | No change |
| HD Home Depot Inc. | 0.10% | 5,864 | $2.1M | Add +10.3% |
| AFL Aflac Inc. | 0.10% | 20,028 | $2.1M | No change |
| TSM Taiwan Semiconductor-SP ADR | 0.10% | 9,249 | $2.1M | Add +2.4% |
| JEPI JPMorgan Equity Premium Inco | 0.10% | 36,385 | $2.1M | Add +3.2% |
| WMT Walmart Inc. | 0.09% | 20,203 | $2.0M | Add +1.6% |
| KO The Coca-Cola Co. | 0.09% | 26,710 | $1.9M | Add +13.1% |
| SHV iShares 0-1 Year Treasury Bo | 0.09% | 17,098 | $1.9M | New |
| SPHQ Invesco S&P 500 Quality ETF | 0.09% | 26,287 | $1.9M | Add +6.5% |
| HEI Heico Corp. | 0.08% | 5,388 | $1.8M | Reduce -3.6% |
| DFUS Dimensional US Eq MKT ETF | 0.08% | 24,462 | $1.6M | Reduce -0.5% |
| LOW Lowe's Cos Inc. | 0.08% | 7,373 | $1.6M | Add +51.3% |
| PG The Procter & Gamble Co. | 0.07% | 9,986 | $1.6M | Add +0.2% |
| IRT Independence Realty Trust Inc. | 0.07% | 88,006 | $1.6M | No change |
| INTC Intel Corp. | 0.07% | 69,339 | $1.6M | Reduce -0.5% |
| CRM Salesforce Inc. | 0.07% | 5,637 | $1.5M | Reduce -29.0% |
| DE Deere & Co. | 0.07% | 2,964 | $1.5M | Add +10.3% |
| ESGV Vanguard ESG US Stock ETF | 0.07% | 13,664 | $1.5M | Reduce -2.2% |
| JPST JPMorgan Ultra-Short Income | 0.07% | 29,249 | $1.5M | Reduce -0.5% |
| AMD Advanced Micro Devices | 0.06% | 9,616 | $1.4M | Add +0.5% |
| VGSH Vanguard Short-Term Treasury | 0.06% | 22,151 | $1.3M | New |
| MMM 3M Co. | 0.06% | 8,521 | $1.3M | Add +26.8% |
| FAST Fastenal Co. | 0.06% | 30,078 | $1.3M | Add +5.4% |
| ADI Analog Devices Inc. | 0.06% | 5,232 | $1.2M | Reduce -0.7% |
| LLY Eli Lilly & Co. | 0.06% | 1,596 | $1.2M | No change |
| NOW ServiceNow Inc. | 0.06% | 1,205 | $1.2M | Reduce -1.7% |
| FTNT Fortinet Inc. | 0.06% | 11,689 | $1.2M | Add +4.5% |
| AMAT Applied Materials Inc. | 0.06% | 6,568 | $1.2M | Add +3.2% |
| UNH Unitedhealth Group Inc. | 0.05% | 3,754 | $1.2M | Add +20.6% |
| BSV Vanguard Short-Term Bond ETF | 0.05% | 14,538 | $1.1M | New |
| XLF SS Financial Select Sector | 0.05% | 21,812 | $1.1M | Reduce -2.4% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.05% | 2,213 | $1.1M | Add +3.6% |
| AXP American Express Co. | 0.05% | 3,333 | $1.1M | No change |
| SCHD Schwab US DVD Equity ETF | 0.05% | 40,066 | $1.1M | Add +17.6% |
Portfolio Sells Q1 2025 → Q2 2025
| IJH iShares Core S&P Midcap ETF | Sold out | 0.00% | −2.09 |
| BILS SS Spdrb B 3-12M T-Bill ETF | Reduce -14.2% | 2.46% | −0.86 |
| IJR iShares Core S&P Small-Cap E | Sold out | 0.00% | −0.78 |
| AGG iShares Core U.S. Aggregate | Reduce -3.9% | 2.45% | −0.49 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -6.3% | 9.20% | −0.47 |
| GILD Gilead Sciences Inc. | Reduce -33.5% | 0.40% | −0.30 |
| ABBV Abbvie Inc. | Reduce -3.5% | 0.62% | −0.22 |
| CSCO Cisco Systems Inc. | Reduce -27.3% | 0.48% | −0.20 |
| VMBS Vanguard Mortgage-Backed Sec | Reduce -3.5% | 0.96% | −0.19 |
| AAPL Apple Inc. | Reduce -0.5% | 0.67% | −0.17 |
| SO The Southern Co. | Reduce -16.3% | 0.45% | −0.17 |
| T AT&T Inc. | Reduce -19.6% | 0.42% | −0.17 |
| DUK Duke Energy Corp. | Reduce -10.3% | 0.43% | −0.14 |
| AMGN Amgen Inc. | Reduce -4.0% | 0.39% | −0.14 |
| UL Unilever PLC | Reduce -19.5% | 0.28% | −0.11 |
| IBM Intl Business Machines Corp. | Reduce -14.3% | 0.61% | −0.09 |
| HBAN Huntington Bancshares Inc. | Reduce -12.3% | 0.41% | −0.07 |
| GSK GSK PLC-Spon ADR | Reduce -4.3% | 0.33% | −0.07 |
| TRP TC Energy Corp. | Reduce -1.0% | 0.42% | −0.05 |
| CRM Salesforce Inc. | Reduce -29.0% | 0.07% | −0.04 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -2.1% | 0.10% | −0.03 |
| ADBE Adobe Inc. | Sold out | 0.00% | −0.03 |
| TSLA Tesla Inc. | Reduce -16.7% | 0.18% | −0.02 |
| FDL First Trust Morn DVD Lead Inc. | Reduce -46.6% | 0.02% | −0.02 |
| PSX Phillips 66 | Sold out | 0.00% | −0.02 |
| WM Waste Management Inc. | Reduce -0.0% | 0.10% | −0.02 |
| DFS Discover Financial Services | Sold out | 0.00% | −0.01 |
| INTC Intel Corp. | Reduce -0.5% | 0.07% | −0.01 |
| ALL Allstate Corp. | Reduce -6.7% | 0.04% | −0.01 |
| JPST JPMorgan Ultra-Short Income | Reduce -0.5% | 0.07% | −0.01 |
| WST West Pharmaceutical Services | Sold out | 0.00% | −0.01 |
| IP International Paper Co. | Reduce -3.8% | 0.02% | −0.01 |
| MDY State Street SPDR S&P Midcap | Reduce -15.0% | 0.03% | −0.01 |
| SPGI S&P Global Inc. | Reduce -6.5% | 0.04% | −0.01 |
| CSGP Costar Group Inc. | Reduce -1.6% | 0.05% | −0.01 |
| TYL Tyler Technologies Inc. | Reduce -1.8% | 0.05% | −0.01 |
| MOAT Vaneck Morningstar Wide Moat | Reduce -33.8% | 0.01% | −0.01 |
| XLF SS Financial Select Sector | Reduce -2.4% | 0.05% | −0.01 |
| JEPQ JPM Nasdaq Equity Premium | Reduce -1.8% | 0.04% | −0.01 |
| MRK Merck & Co. Inc. | Reduce -2.7% | 0.01% | −0.00 |
| ESGV Vanguard ESG US Stock ETF | Reduce -2.2% | 0.07% | −0.00 |
| DFUS Dimensional US Eq MKT ETF | Reduce -0.5% | 0.08% | −0.00 |
| FICO Fair Isaac Corp. | Reduce -2.1% | 0.02% | −0.00 |
| LMT Lockheed Martin Corp. | Reduce -2.5% | 0.02% | −0.00 |
| IWO iShares Russell 2000 Growth | Reduce -3.9% | 0.04% | −0.00 |
| NXPI NXP Semiconductors NV | Reduce -8.3% | 0.03% | −0.00 |
| ESGD iShares Trust iShares ESG Aw | Reduce -3.9% | 0.03% | −0.00 |
| IVV iShares Core S&P 500 ETF | Reduce -4.1% | 0.03% | −0.00 |
| ROL Rollins Inc. | Reduce -5.3% | 0.01% | −0.00 |
| SUSA iShares ESG Optimized MSCI U | Reduce -2.9% | 0.03% | −0.00 |
Portfolio Buys Q1 2025 → Q2 2025
| VTI VG Morningstar TS MKT ETF-US | Add +118.1% | 4.90% | +2.55 |
| RSP Invesco S&P 500 Equal Weight | New | 2.42% | +2.42 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +4.6% | 11.98% | +0.76 |
| IEFA iShares Core MSCI Eafe ETF | Add +11.1% | 13.09% | +0.72 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +86.3% | 1.90% | +0.72 |
| PEP Pepsico Inc. | Add +2002.5% | 0.40% | +0.38 |
| MSFT Microsoft Corp. | Add +2.5% | 0.89% | +0.13 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +14.3% | 11.61% | +0.11 |
| UPS United Parcel Service Class B | Add +52.6% | 0.53% | +0.09 |
| SHV iShares 0-1 Year Treasury Bo | New | 0.09% | +0.09 |
| AVGO Broadcom Inc. | Add +1.6% | 0.24% | +0.07 |
| META Meta Platforms Inc. Class A | Add +1.2% | 0.67% | +0.07 |
| VGSH Vanguard Short-Term Treasury | New | 0.06% | +0.06 |
| BSV Vanguard Short-Term Bond ETF | New | 0.05% | +0.05 |
| HPE Hewlett Packard Enterprise | Add +2.1% | 0.33% | +0.05 |
| ANET Arista Networks Inc. | New | 0.04% | +0.04 |
| JPM JPMorgan Chase & Co. | Add +10.9% | 0.28% | +0.03 |
| VZ Verizon Communications Inc. | Add +29.0% | 0.50% | +0.03 |
| NFLX Netflix Inc. | Add +2.6% | 0.13% | +0.03 |
| ITOT iShares Core S&P Total U.S. | New | 0.03% | +0.03 |
| BND Vanguard Total Bond Market | New | 0.02% | +0.02 |
| SPDW Ste STR SPDR PT DW Eu ETF | Add +127.7% | 0.04% | +0.02 |
| TSM Taiwan Semiconductor-SP ADR | Add +2.4% | 0.10% | +0.02 |
| CAT Caterpillar Inc. | Add +55.9% | 0.05% | +0.02 |
| IWD iShares Russell 1000 Value E | Add +128.4% | 0.03% | +0.02 |
| LOW Lowe's Cos Inc. | Add +51.3% | 0.08% | +0.01 |
| COF Capital One Financial Corp. | New | 0.01% | +0.01 |
| PANW Palo Alto Networks Inc. | New | 0.01% | +0.01 |
| MET Metlife Inc. | New | 0.01% | +0.01 |
| MDT Medtronic PLC | New | 0.01% | +0.01 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +3.6% | 0.05% | +0.01 |
| INTU Intuit Inc. | New | 0.01% | +0.01 |
| IYW iShares Ustechnology ETF | New | 0.01% | +0.01 |
| C Citigroup Inc. | New | 0.01% | +0.01 |
| QUAL iShares MSCI USA Quality Fac | New | 0.01% | +0.01 |
| AMD Advanced Micro Devices | Add +0.5% | 0.06% | +0.01 |
| BA The Boeing Co. | New | 0.01% | +0.01 |
| DIS The Walt Disney Co. | New | 0.01% | +0.01 |
| SLV iShares Silver Trust | New | 0.01% | +0.01 |
| TXN Texas Instruments Inc. | Add +61.9% | 0.03% | +0.01 |
| MMM 3M Co. | Add +26.8% | 0.06% | +0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +5.8% | 0.76% | +0.01 |
| AMAT Applied Materials Inc. | Add +3.2% | 0.06% | +0.01 |
| XLK SS Technology Select Sector | Add +41.2% | 0.02% | +0.01 |
| CVX Chevron Corp. | Add +36.8% | 0.50% | +0.01 |
| BAC Bank of America Corp. | Add +15.8% | 0.04% | +0.01 |
| ABT Abbott Laboratories | Add +48.5% | 0.02% | +0.00 |
| MU Micron Technology Inc. | Add +1.0% | 0.02% | +0.00 |
| VEA Vanguard Ftse Developed ETF | Add +5.7% | 0.10% | +0.00 |
| DE Deere & Co. | Add +10.3% | 0.07% | +0.00 |
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 |