Fell Capital Management

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 4, 2026), Fell Capital Management reported 91 stock positions worth $104.8 million. Its top holding was Apple (AAPL) at 5.2% of the portfolio, followed by SS SPDR S&P 500 ETF Trust-US (SPY, 5.1%) and iShares Russell 2000 Value E (IWN, 4.7%). Compared with Q4 2025, it opened 2 new positions, sold out of 1, added to 21 and reduced 41. The biggest buy was iShares Russell 2000 Value E (IWN, shares +25%) and the biggest sale Microsoft (MSFT, shares −1%).

Most Recent 13F
Q2 2026
Location
NEWPORT BEACH, CA
CIK
0000850601
Portfolio Value
$104.8M (Q1 2026)
SEC Filing
0000850601-26-000004 ↗ filed May 4, 2026

Holdings Value

0$50.0M$100.0M$150.0M Q4 2025: $102.6M Q4 2025 Q1 2026: $104.8M $104.8M Q1 2026 Q2 2026: $118.7M Q2 2026

Holdings 91 stocks · $104.8M
AAPL Apple Inc. 5.17% 21,342 $5.4M Reduce -1.7%
SPY SS SPDR S&P 500 ETF Trust-US 5.07% 8,165 $5.3M Reduce -7.0%
IWN iShares Russell 2000 Value E 4.66% 25,728 $4.9M Add +25.2%
IWO iShares Russell 2000 Growth 4.22% 14,104 $4.4M Add +8.9%
GOOG Alphabet Inc. Class C 4.06% 14,832 $4.3M Reduce -2.1%
SDY SS SPDR S&P Dividend ETF 3.71% 26,612 $3.9M Add +10.8%
VAW Vanguard Materials ETF 2.47% 11,495 $2.6M Reduce -1.7%
MSFT Microsoft Corp. 2.37% 6,712 $2.5M Reduce -0.9%
SLYV SS SPDR S&P 600 SC Val ETF 2.34% 25,881 $2.4M Add +23.8%
GLD SPDR Gold Shares 2.21% 5,370 $2.3M Reduce -5.6%
VO Vngrd Mrngstr MD-Cap ETF-Usd 2.20% 8,044 $2.3M Add +1.3%
SPYV SS SPDR P S&P 500 Value ETF 2.16% 40,059 $2.3M Add +62.8%
AMZN Amazon.com Inc. 2.10% 10,576 $2.2M Reduce -1.9%
VWO Vanguard Ftse Emerging Marke 2.01% 39,021 $2.1M Reduce -0.8%
PFF iShares Preferred & Income S 1.82% 62,784 $1.9M Reduce -6.3%
XOM Exxon Mobil Corp. 1.80% 11,105 $1.9M No change
SLYG SS SPDR S&P 600 SC GR ETF 1.64% 17,756 $1.7M Add +15.3%
JPM JPMorgan Chase & Co. 1.58% 5,645 $1.7M Reduce -2.6%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 1.57% 20,727 $1.6M Add +0.5%
CVX Chevron Corp. 1.57% 7,949 $1.6M Reduce -3.0%
SPYG SS SPDR P S&P 500 Growth ETF 1.56% 16,699 $1.6M Add +31.3%
GS Goldman Sachs Group Inc. 1.56% 1,927 $1.6M Reduce -0.3%
NVDA Nvidia Corp. 1.43% 8,572 $1.5M Add +2.4%
GOOGL Alphabet Inc. Class A 1.37% 4,980 $1.4M No change
AMGN Amgen Inc. 1.36% 4,065 $1.4M Reduce -2.4%
FBND Fidelity Total Bond ETF 1.33% 30,554 $1.4M Add +95.1%
BRK.B Berkshire Hathaway Inc. Class B 1.25% 2,737 $1.3M Reduce -4.4%
IJH iShares Core S&P Midcap ETF 1.24% 19,205 $1.3M Reduce -5.2%
XLV SS Health Care Select Sector 1.17% 8,335 $1.2M No change
QQQ Invesco QQQ Trust Series 1 1.10% 1,990 $1.1M Add +3.5%
JNJ Johnson & Johnson 1.04% 4,442 $1.1M Reduce -2.2%
SPMD SS SPDR P S&P 400 Midcap ETF 1.02% 18,129 $1.1M Add +17.6%
VZ Verizon Communications Inc. 1.01% 20,985 $1.1M Reduce -3.7%
MCK McKesson Corp. 0.98% 1,185 $1.0M No change
KMI Kinder Morgan Inc. 0.97% 30,400 $1.0M No change
FDX FedEx Corp. 0.97% 2,855 $1.0M No change
TIP iShares Tips Bond ETF 0.94% 8,920 $984K Add +4.7%
HD Home Depot Inc. 0.93% 2,967 $976K Reduce -3.3%
FCX Freeport-McMoran Inc. 0.80% 14,275 $839K No change
HON Honeywell International Inc. 0.79% 3,640 $823K Reduce -2.0%
BTZ BlackRock Credit Allocation 0.78% 81,184 $820K Reduce -4.1%
SBUX Starbucks Corp. 0.75% 8,715 $781K Reduce -5.4%
XBI SS SPDR S&P Biotech ETF 0.74% 6,100 $779K No change
ORCL Oracle Corp. 0.73% 5,216 $767K Reduce -4.6%
BITB Bitwise Bitcoin ETF 0.72% 20,495 $754K Reduce -2.6%
TBIL F/M US Treasury 3 Month Bill 0.71% 14,850 $740K No change
IWM iShares Russell 2000 ETF 0.67% 2,845 $706K No change
V Visa Inc. Class A 0.66% 2,289 $692K Reduce -8.0%
GE General Electric filed as GE AEROSPACE 0.66% 2,425 $688K No change
PTY PIMCO Corporate & Income Opp 0.64% 55,950 $675K Reduce -6.7%
AXP American Express Co. 0.63% 2,190 $662K Reduce -4.4%
CSCO Cisco Systems Inc. 0.62% 8,358 $648K Reduce -4.0%
SGOV iShares 0-3 Month Treasury B 0.60% 6,250 $629K No change
NFLX Netflix Inc. 0.59% 6,430 $618K Reduce -7.9%
RTX RTX Corp. 0.58% 3,125 $603K Reduce -12.0%
AIQ Global X Art Intel & Tech 0.56% 12,521 $584K Add +47.6%
ITW Illinois Tool Works 0.55% 2,205 $574K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.55% 5,947 $573K Reduce -2.5%
BA The Boeing Co. 0.53% 2,815 $560K Reduce -1.8%
MO Altria Group Inc. 0.51% 8,050 $531K No change
SPDW Ste STR SPDR PT DW Eu ETF 0.51% 11,600 $530K Add +20.2%
MRK Merck & Co. Inc. 0.50% 4,315 $519K Reduce -4.4%
TSM Taiwan Semiconductor-SP ADR 0.46% 1,429 $483K Add +6.3%
VEA Vanguard Ftse Developed ETF 0.45% 7,438 $477K No change
MCD McDonald's Corp. 0.44% 1,475 $458K Reduce -6.3%
MS Morgan Stanley 0.43% 2,710 $446K Reduce -10.0%
SPAB SS SPDR P Agg Bond ETF 0.43% 17,384 $445K Add +8.3%
REMX Vaneck Rar Earth ND STG-Usdi 0.38% 4,510 $397K No change
UNH Unitedhealth Group Inc. 0.38% 1,458 $395K Reduce -9.3%
UNP Union Pacific Corp. 0.35% 1,525 $370K Reduce -14.1%
GEV GE Vernova Inc. 0.35% 418 $365K No change
PG The Procter & Gamble Co. 0.33% 2,411 $348K No change
AMAT Applied Materials Inc. 0.33% 1,000 $342K No change
WELL Welltower Inc. 0.32% 1,700 $336K No change
CMCSA Comcast Corp. Class A 0.31% 11,322 $325K No change
META Meta Platforms Inc. Class A 0.30% 548 $314K Add +8.1%
SLV iShares Silver Trust 0.27% 4,200 $286K No change
CVS CVS Health Corp. 0.27% 3,900 $280K Reduce -11.4%
VTI VG Morningstar TS MKT ETF-US 0.26% 862 $277K Add +7.0%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.25% 1,208 $262K No change
AVGO Broadcom Inc. 0.24% 822 $254K Reduce -19.6%
UTWO F/M US Treasury 2 Year Note 0.24% 5,175 $250K Reduce -4.6%
XLF SS Financial Select Sector 0.24% 5,025 $248K No change
J Jacobs Solutions Inc. 0.24% 1,940 $247K No change
SPEM State Street SP PTF Em ETF 0.23% 5,139 $241K Add +15.9%
ETN Eaton Corp. PLC 0.20% 600 $215K Reduce -11.1%
LMT Lockheed Martin Corp. 0.20% 355 $215K New
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.20% 1,800 $214K Reduce -26.5%
SCHW Schwab (charles) Corp. 0.20% 2,250 $211K No change
SCHE Schwab Emrg Mrkts Eqty ETF 0.20% 6,200 $204K No change
TGT Target Corp. 0.19% 1,675 $203K New

Portfolio Sells Q4 2025 → Q1 2026
MSFT Microsoft Corp. Reduce -0.9% 2.37% −0.82
SPY SS SPDR S&P 500 ETF Trust-US Reduce -7.0% 5.07% −0.77
AAPL Apple Inc. Reduce -1.7% 5.17% −0.59
GOOG Alphabet Inc. Class C Reduce -2.1% 4.06% −0.58
AMZN Amazon.com Inc. Reduce -1.9% 2.10% −0.32
ORCL Oracle Corp. Reduce -4.6% 0.73% −0.31
BITB Bitwise Bitcoin ETF Reduce -2.6% 0.72% −0.26
JPM JPMorgan Chase & Co. Reduce -2.6% 1.58% −0.24
GBTC Grayscale Bitcoin Trust ETF Sold out 0.00% −0.23
PFF iShares Preferred & Income S Reduce -6.3% 1.82% −0.21
AXP American Express Co. Reduce -4.4% 0.63% −0.19
V Visa Inc. Class A Reduce -8.0% 0.66% −0.19
BRK.B Berkshire Hathaway Inc. Class B Reduce -4.4% 1.25% −0.15
UNH Unitedhealth Group Inc. Reduce -9.3% 0.38% −0.14
DIS The Walt Disney Co. Reduce -2.5% 0.55% −0.13
BTZ BlackRock Credit Allocation Reduce -4.1% 0.78% −0.11
PTY PIMCO Corporate & Income Opp Reduce -6.7% 0.64% −0.11
AVGO Broadcom Inc. Reduce -19.6% 0.24% −0.10
GS Goldman Sachs Group Inc. Reduce -0.3% 1.56% −0.10
HD Home Depot Inc. Reduce -3.3% 0.93% −0.10
MS Morgan Stanley Reduce -10.0% 0.43% −0.10
BNY Bank of New York Mellon Corp. Reduce -26.5% 0.20% −0.07
CVS CVS Health Corp. Reduce -11.4% 0.27% −0.07
BA The Boeing Co. Reduce -1.8% 0.53% −0.07
IJH iShares Core S&P Midcap ETF Reduce -5.2% 1.24% −0.07
RTX RTX Corp. Reduce -12.0% 0.58% −0.06
VWO Vanguard Ftse Emerging Marke Reduce -0.8% 2.01% −0.05
NFLX Netflix Inc. Reduce -7.9% 0.59% −0.05
UNP Union Pacific Corp. Reduce -14.1% 0.35% −0.05
CSCO Cisco Systems Inc. Reduce -4.0% 0.62% −0.04
MCD McDonald's Corp. Reduce -6.3% 0.44% −0.03
UTWO F/M US Treasury 2 Year Note Reduce -4.6% 0.24% −0.02
SBUX Starbucks Corp. Reduce -5.4% 0.75% −0.01
ETN Eaton Corp. PLC Reduce -11.1% 0.20% −0.00
GLD SPDR Gold Shares Reduce -5.6% 2.21% +0.01
MRK Merck & Co. Inc. Reduce -4.4% 0.50% +0.03
AMGN Amgen Inc. Reduce -2.4% 1.36% +0.04
HON Honeywell International Inc. Reduce -2.0% 0.79% +0.08
VAW Vanguard Materials ETF Reduce -1.7% 2.47% +0.11
JNJ Johnson & Johnson Reduce -2.2% 1.04% +0.12
VZ Verizon Communications Inc. Reduce -3.7% 1.01% +0.14
CVX Chevron Corp. Reduce -3.0% 1.57% +0.35

Portfolio Buys Q4 2025 → Q1 2026
IWN iShares Russell 2000 Value E Add +25.2% 4.66% +1.02
SPYV SS SPDR P S&P 500 Value ETF Add +62.8% 2.16% +0.80
FBND Fidelity Total Bond ETF Add +95.1% 1.33% +0.63
SLYV SS SPDR S&P 600 SC Val ETF Add +23.8% 2.34% +0.48
SDY SS SPDR S&P Dividend ETF Add +10.8% 3.71% +0.45
SPYG SS SPDR P S&P 500 Growth ETF Add +31.3% 1.56% +0.24
SLYG SS SPDR S&P 600 SC GR ETF Add +15.3% 1.64% +0.22
LMT Lockheed Martin Corp. New 0.20% +0.20
TGT Target Corp. New 0.19% +0.19
SPMD SS SPDR P S&P 400 Midcap ETF Add +17.6% 1.02% +0.15
IWO iShares Russell 2000 Growth Add +8.9% 4.22% +0.14
AIQ Global X Art Intel & Tech Add +47.6% 0.56% +0.14
SPDW Ste STR SPDR PT DW Eu ETF Add +20.2% 0.51% +0.09
TSM Taiwan Semiconductor-SP ADR Add +6.3% 0.46% +0.06
SPEM State Street SP PTF Em ETF Add +15.9% 0.23% +0.03
TIP iShares Tips Bond ETF Add +4.7% 0.94% +0.03
SPAB SS SPDR P Agg Bond ETF Add +8.3% 0.43% +0.02
VTI VG Morningstar TS MKT ETF-US Add +7.0% 0.26% +0.00
META Meta Platforms Inc. Class A Add +8.1% 0.30% −0.03
VO Vngrd Mrngstr MD-Cap ETF-Usd Add +1.3% 2.20% −0.04
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Add +0.5% 1.57% −0.05
QQQ Invesco QQQ Trust Series 1 Add +3.5% 1.10% −0.06
NVDA Nvidia Corp. Add +2.4% 1.43% −0.10

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 96$118.7MIWN, AAPL, SPY, IWO, GOOG
Q1 2026 91$104.8MAAPL, SPY, IWN, IWO, GOOG
Q4 2025 90$102.6MSPY, AAPL, GOOG, IWO, IWN