Fjell Capital, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 11, 2025), Fjell Capital, LLC reported 51 stock positions worth $98.6 million. Its top holding was Davis Select Worldwide ETF (DWLD) at 9.8% of the portfolio, followed by Victoryshares Core Intermedi (UITB, 6.6%) and Invesco Total Return Bond Et (GTO, 4.9%). Compared with Q4 2024, it opened 4 new positions, sold out of 7, added to 33 and reduced 13. The biggest buy was a new position in Pgim Short Duration High YLD (PSH) and the biggest sale an exit from SS SPDR P High Yield ETF (SPHY).
- Most Recent 13F
- Q2 2026
- Location
- FARGO, ND
- CIK
- 0002053350
- Portfolio Value
- $98.6M (Q1 2025)
- SEC Filing
- 0001085146-25-002046 ↗ filed Apr 11, 2025
Holdings Value
Holdings 51 stocks · $98.6M
| DWLD Davis Select Worldwide ETF | 9.77% | 255,538 | $9.6M | Reduce -2.3% |
| UITB Victoryshares Core Intermedi | 6.60% | 138,688 | $6.5M | Add +50.1% |
| GTO Invesco Total Return Bond Et | 4.91% | 103,262 | $4.8M | Reduce -15.2% |
| USIG iShares Broad Usd Investment | 3.98% | 76,896 | $3.9M | Add +4.2% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 3.91% | 14,895 | $3.9M | Add +4.2% |
| MSFT Microsoft Corp. | 3.50% | 9,186 | $3.4M | Add +9.7% |
| AAPL Apple Inc. | 3.45% | 15,301 | $3.4M | Add +8.6% |
| PSH Pgim Short Duration High YLD | 3.26% | 63,826 | $3.2M | New |
| PHYL Pgim Active High Yield Bond | 3.20% | 90,617 | $3.2M | Reduce -7.1% |
| HYFI AB High Yield ETF filed as AB ACTIVE ETFS INC | 3.13% | 83,688 | $3.1M | Reduce -7.8% |
| AMZN Amazon.com Inc. | 2.95% | 15,299 | $2.9M | Add +9.6% |
| NVDA Nvidia Corp. | 2.89% | 26,279 | $2.8M | Add +34.5% |
| VUG Vanguard Mrngstar GR ETF-Sui | 2.63% | 7,006 | $2.6M | Add +9.4% |
| IJR iShares Core S&P Small-Cap E | 2.61% | 24,582 | $2.6M | Add +3.6% |
| AVGO Broadcom Inc. | 2.42% | 14,278 | $2.4M | Add +38.8% |
| COST Costco Wholesale Corp. | 2.41% | 2,511 | $2.4M | Add +32.6% |
| GOOGL Alphabet Inc. Class A | 2.33% | 14,886 | $2.3M | Add +38.1% |
| BINV Brandes International ETF | 2.22% | 66,190 | $2.2M | New |
| VTV Vanguard Mrngstr Val ETF-Aui | 2.19% | 12,479 | $2.2M | Add +4.7% |
| CGGR Cap Group Growth Equity | 2.15% | 61,901 | $2.1M | Reduce -7.5% |
| META Meta Platforms Inc. Class A | 1.91% | 3,268 | $1.9M | Add +4.2% |
| SCHD Schwab US DVD Equity ETF | 1.74% | 61,249 | $1.7M | Reduce -17.3% |
| KLAC KLA Corp. | 1.50% | 2,173 | $1.5M | Add +19.1% |
| JPM JPMorgan Chase & Co. | 1.48% | 5,933 | $1.5M | Add +2.8% |
| WM Waste Management Inc. | 1.45% | 6,164 | $1.4M | Add +10.7% |
| CRM Salesforce Inc. | 1.37% | 5,018 | $1.3M | Add +6.0% |
| CVX Chevron Corp. | 1.34% | 7,899 | $1.3M | Add +28.5% |
| DE Deere & Co. | 1.23% | 2,583 | $1.2M | Add +1.9% |
| MRSH Marsh & McLennan Cos | 1.15% | 4,644 | $1.1M | Reduce -0.3% |
| MRK Merck & Co. Inc. | 1.12% | 12,321 | $1.1M | Add +12.4% |
| CMG Chipotle Mexican Grill Inc. | 1.11% | 21,752 | $1.1M | Add +14.2% |
| ADBE Adobe Inc. | 1.11% | 2,846 | $1.1M | Reduce -17.5% |
| NEE Nextera Energy Inc. | 1.11% | 15,388 | $1.1M | Add +15.7% |
| BX Blackstone Inc. | 1.07% | 7,565 | $1.1M | Add +9.6% |
| HD Home Depot Inc. | 1.06% | 2,864 | $1.0M | Add +7.7% |
| ARES Ares Management Corp. Class A | 1.06% | 7,155 | $1.0M | Add +19.6% |
| RTX RTX Corp. | 1.06% | 7,895 | $1.0M | Add +27.0% |
| ICE Intercontinental Exchange Inc. | 1.03% | 5,897 | $1.0M | Add +1.7% |
| AMD Advanced Micro Devices | 1.00% | 9,569 | $983K | Reduce -8.1% |
| UNH Unitedhealth Group Inc. | 0.99% | 1,860 | $974K | Add +9.8% |
| XLK SS Technology Select Sector | 0.87% | 4,175 | $862K | New |
| UNP Union Pacific Corp. | 0.52% | 2,177 | $514K | Reduce -28.1% |
| KKR KKR & Co. Inc. | 0.51% | 4,313 | $499K | Add +12.8% |
| DHR Danaher Corp. | 0.50% | 2,386 | $489K | Add +20.6% |
| LOW Lowe's Cos Inc. | 0.47% | 1,996 | $466K | Add +0.1% |
| VGT Vanguard Info Tech ETF | 0.43% | 789 | $428K | Add +5.3% |
| GOOG Alphabet Inc. Class C | 0.35% | 2,218 | $347K | No change |
| BND Vanguard Total Bond Market | 0.30% | 4,046 | $297K | Reduce -23.6% |
| VEA Vanguard Ftse Developed ETF | 0.23% | 4,535 | $231K | Reduce -13.0% |
| DNP DNP Select Income Fund Inc. | 0.23% | 22,782 | $225K | Reduce -21.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.22% | 413 | $220K | New |
Portfolio Sells Q4 2024 → Q1 2025
| SPHY SS SPDR P High Yield ETF | Sold out | 0.00% | −3.09 |
| CGSD Cap Group Short Duration | Sold out | 0.00% | −1.48 |
| JNJ Johnson & Johnson | Sold out | 0.00% | −0.93 |
| GTO Invesco Total Return Bond Et | Reduce -15.2% | 4.91% | −0.92 |
| PEP Pepsico Inc. | Sold out | 0.00% | −0.70 |
| ADBE Adobe Inc. | Reduce -17.5% | 1.11% | −0.48 |
| CGGR Cap Group Growth Equity | Reduce -7.5% | 2.15% | −0.42 |
| SCHD Schwab US DVD Equity ETF | Reduce -17.3% | 1.74% | −0.35 |
| HYFI AB High Yield ETF | Reduce -7.8% | 3.13% | −0.33 |
| AMD Advanced Micro Devices | Reduce -8.1% | 1.00% | −0.30 |
| PHYL Pgim Active High Yield Bond | Reduce -7.1% | 3.20% | −0.30 |
| XLY SS Consumer Disc Select Sect | Sold out | 0.00% | −0.27 |
| USB US Bancorp | Sold out | 0.00% | −0.22 |
| CSCO Cisco Systems Inc. | Sold out | 0.00% | −0.22 |
| UNP Union Pacific Corp. | Reduce -28.1% | 0.52% | −0.19 |
| BND Vanguard Total Bond Market | Reduce -23.6% | 0.30% | −0.09 |
| DWLD Davis Select Worldwide ETF | Reduce -2.3% | 9.77% | −0.05 |
| DNP DNP Select Income Fund Inc. | Reduce -21.2% | 0.23% | −0.03 |
| VEA Vanguard Ftse Developed ETF | Reduce -13.0% | 0.23% | −0.02 |
| MRSH Marsh & McLennan Cos | Reduce -0.3% | 1.15% | +0.13 |
Portfolio Buys Q4 2024 → Q1 2025
| PSH Pgim Short Duration High YLD | New | 3.26% | +3.26 |
| BINV Brandes International ETF | New | 2.22% | +2.22 |
| UITB Victoryshares Core Intermedi | Add +50.1% | 6.60% | +2.22 |
| XLK SS Technology Select Sector | New | 0.87% | +0.87 |
| COST Costco Wholesale Corp. | Add +32.6% | 2.41% | +0.62 |
| CVX Chevron Corp. | Add +28.5% | 1.34% | +0.42 |
| RTX RTX Corp. | Add +27.0% | 1.06% | +0.32 |
| KLAC KLA Corp. | Add +19.1% | 1.50% | +0.31 |
| WM Waste Management Inc. | Add +10.7% | 1.45% | +0.29 |
| GOOGL Alphabet Inc. Class A | Add +38.1% | 2.33% | +0.23 |
| BRK.B Berkshire Hathaway Inc. Class B | New | 0.22% | +0.22 |
| NVDA Nvidia Corp. | Add +34.5% | 2.89% | +0.18 |
| USIG iShares Broad Usd Investment | Add +4.2% | 3.98% | +0.15 |
| ICE Intercontinental Exchange Inc. | Add +1.7% | 1.03% | +0.14 |
| NEE Nextera Energy Inc. | Add +15.7% | 1.11% | +0.12 |
| DE Deere & Co. | Add +1.9% | 1.23% | +0.12 |
| UNH Unitedhealth Group Inc. | Add +9.8% | 0.99% | +0.10 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +4.7% | 2.19% | +0.10 |
| JPM JPMorgan Chase & Co. | Add +2.8% | 1.48% | +0.05 |
| DHR Danaher Corp. | Add +20.6% | 0.50% | +0.03 |
| META Meta Platforms Inc. Class A | Add +4.2% | 1.91% | +0.01 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +4.2% | 3.91% | +0.00 |
| HD Home Depot Inc. | Add +7.7% | 1.06% | −0.00 |
| MRK Merck & Co. Inc. | Add +12.4% | 1.12% | −0.00 |
| ARES Ares Management Corp. Class A | Add +19.6% | 1.06% | −0.03 |
| LOW Lowe's Cos Inc. | Add +0.1% | 0.47% | −0.04 |
| AVGO Broadcom Inc. | Add +38.8% | 2.42% | −0.04 |
| VGT Vanguard Info Tech ETF | Add +5.3% | 0.43% | −0.05 |
| KKR KKR & Co. Inc. | Add +12.8% | 0.51% | −0.08 |
| CMG Chipotle Mexican Grill Inc. | Add +14.2% | 1.11% | −0.08 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +9.4% | 2.63% | −0.08 |
| MSFT Microsoft Corp. | Add +9.7% | 3.50% | −0.15 |
| BX Blackstone Inc. | Add +9.6% | 1.07% | −0.16 |
| AAPL Apple Inc. | Add +8.6% | 3.45% | −0.20 |
| AMZN Amazon.com Inc. | Add +9.6% | 2.95% | −0.21 |
| IJR iShares Core S&P Small-Cap E | Add +3.6% | 2.61% | −0.22 |
| CRM Salesforce Inc. | Add +6.0% | 1.37% | −0.27 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 66 | $146.6M | DWLD, UITB, NVDA, GOOGL, KLAC |
| Q1 2026 | 68 | $130.0M | DWLD, UITB, NVDA, USIG, GOOGL |
| Q4 2025 | 66 | $130.4M | DWLD, UITB, NVDA, BIL, GOOGL |
| Q3 2025 | 58 | $113.6M | DWLD, UITB, BIL, MSFT, NVDA |
| Q2 2025 | 53 | $107.9M | DWLD, UITB, BIL, GTO, MSFT |
| Q1 2025 | 51 | $98.6M | DWLD, UITB, GTO, USIG, VO |
| Q4 2024 | 54 | $96.8M | DWLD, GTO, UITB, VO, USIG |