13F Insight
DOSSIER · 13F-HR · Q2 2026

Bell Bank

$2.6B in tracked AUM across 240 positions as of Q2 2026.

BB
CIK 0001002672 · last filed Jun 30, 2026
Total AUM
$2.6B
as of Q2 2026
Holdings
240
—
positions
Whale Score
69
69
tracked
Activity
—
no data
changes this Q
AI Analysis · Q2 2026

Portfolio Overview

Bell Bank’s 13F filing for the period ending December 31, 2025, reveals a dramatic transformation in its investment portfolio. The total assets under management (AUM) surged by 165.8%, growing from $880.25 million to $2.34 billion within a single quarter. This substantial increase in capital correlates with a significant shift in investment strategy. The portfolio now consists of 236 holdings, yet it exhibits a high degree of concentration in the top posit...

Key Holdings

The portfolio is characterized by a "barbell" structure of massive ETF positions and smaller, individual stock picks. The top three holdings alone account for approximately 38.6% of the total portfolio value:

  1. IEFA (iShares Core MSCI EAFE): At $309.26 million (13.22%), this is the largest position, providing exposure to developed international markets.
  2. VTV (Vanguard Value ETF): Valued at $306.36 million (13.09%), this indicates a strong tilt toward value factors within the U.S. equity market.
  3. VUG (Vanguard Growth ETF): Holding $288.15 million (12.31%), this balances the VTV position by covering U.S. growth equities.

Quarter at a glance — Q2 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q2 2026.

#HoldingValueSharesWeight
01
VTV
VANGUARD INDEX FDS
$346M1.6M13.2%02
IEFA
ISHARES TR
$340M3.5M13.0%03
VUG
VANGUARD INDEX FDS
$310M3.6M11.8%04
QQQ
INVESCO QQQ TR
$262M355K10.0%05
RSP
INVESCO EXCHANGE TRADED FD T
$129M605K4.9%06
VTI
VANGUARD INDEX FDS
$125M338K4.8%07
VOO
VANGUARD INDEX FDS
$103M150K3.9%08
SPYV
SPDR SERIES TRUST
$103M1.7M3.9%09
AGG
ISHARES TR
$70M706K2.7%10
JAAA
JANUS DETROIT STR TR
$46M918K1.8%

Filing history

2026Q2Jun 30
$2.6B▲ 11.2%
240 positionsView →2026Q1Mar 31
$2.4B▲ 0.8%
232 positionsView →2025Q4Dec 31
$2.3B▲ 1.3%
236 positionsView →2025Q3Sep 30
$2.3B▲ 7.6%
271 positionsView →2025Q2Jun 30
$2.1B▲ 15.8%
272 positionsLocked2025Q1Mar 31
$1.9B▲ 37.8%
261 positionsLocked2024Q4Dec 31
$1.3B▲ 59.1%
262 positionsLocked2024Q3Sep 30
$845M▼ 28.9%
242 positionsLocked2024Q2Jun 30
$1.2B▲ 2.3%
188 positionsLocked2024Q1Mar 31
$1.2B▲ 12.1%
184 positionsLocked2023Q4Dec 31
$1.0B▲ 13.6%
173 positionsLocked2023Q3Sep 30
$914M▼ 3.2%
180 positionsLocked
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