Bell Asset Management
Melbourne, C3files as Bell Asset Management Ltd
$375m in 63 US stocks at the end of 30 June 2026. The top 10 are 43.5% of the money. It changed about 15.5% of the portfolio this quarter.
Value
$375m
Stocks
63
Top 10 share
43.5%
Turnover
15.5%
What changed this quarter
New
Bought for the first time this quarter.
- EatonETN1.3% of the fund
- Lowe's CompaniesLOW1.2% of the fund
- AmphenolAPH1.2% of the fund
- Otis WorldwideOTIS1.1% of the fund
- HCA HealthcareHCA1.0% of the fund
- Spotify TechnologySPOT1.0% of the fund
- Applied MaterialsAMAT0.9% of the fund
- StrykerSYK0.9% of the fund
- GE HealthCare TechnologiesGEHC0.7% of the fund
Added
Bought more of a stock they already held.
- JPMorgan ChaseJPM2.6% of the fund+3%
- Meta PlatformsMETA2.3% of the fund+89%
- MastercardMA1.9% of the fund+17%
- NetflixNFLX1.5% of the fund+55%
- AbbVieABBV1.4% of the fund+22%
- Advanced Drainage SystemsWMS1.2% of the fund+97%
- LPL Financial HoldingsLPLA1.2% of the fund+15%
- Abbott LaboratoriesABT1.2% of the fund+15%
- Motorola SolutionsMSI1.1% of the fund+27%
- CencoraCOR1.1% of the fund+43%
- AccentureACN1.1% of the fund+54%
- Boot Barn HoldingsBOOT1.1% of the fund+7%
- Eli LillyLLY1.1% of the fund+24%
- Mettler Toledo InternationalMTD1.1% of the fund+59%
- McDonald'sMCD1.1% of the fund+110%
- CDWCDW1.1% of the fund+6%
- MercadoLibreMELI1.0% of the fund+70%
- American ExpressAXP1.0% of the fund+124%
- Tractor SupplyTSCO1.0% of the fund+27%
- AutodeskADSK1.0% of the fund+28%
- Broadridge Financial SolutionsBR0.9% of the fund+19%
Cut
Sold some of their stake.
- NvidiaNVDA9.3% of the fund-5%
- MicrosoftMSFT5.8% of the fund-7%
- Amazon.comAMZN4.6% of the fund-9%
- AppleAAPL3.3% of the fund-46%
- AonAON1.3% of the fund-17%
- UnitedHealth GroupUNH1.3% of the fund-30%
- Uber TechnologiesUBER1.1% of the fund-15%
- Agilent TechnologiesA1.1% of the fund-10%
- Dick's Sporting GoodsDKS1.1% of the fund-11%
- Service Corp InternationalSCI1.0% of the fund-5%
- OracleORCL1.0% of the fund-10%
- Manhattan AssociatesMANH0.9% of the fund-17%
- ServiceNowNOW0.8% of the fund-11%
- Paylocity HoldingPCTY0.8% of the fund-15%
- MsciMSCI0.6% of the fund-19%
Sold out
Sold their entire stake.
- Cadence Design SystemsCDNS-100%
- Keysight TechnologiesKEYS-100%
- W.W. GraingerGWW-100%
- PoolPOOL-100%
- CopartCPRT-100%
- Cisco SystemsCSCO-100%
- Costco WholesaleCOST-100%
Holdings
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| NvidiaNVDA | 9.3% | $35m | 174,676 | -5% |
| AlphabetGOOGL | 7.3% | $27m | 76,016 | Held |
| MicrosoftMSFT | 5.8% | $22m | 58,396 | -7% |
| Amazon.comAMZN | 4.6% | $17m | 71,580 | -9% |
| BroadcomAVGO | 4.0% | $15m | 39,992 | Held |
| AppleAAPL | 3.3% | $12m | 42,299 | -46% |
| JPMorgan ChaseJPM | 2.6% | $10m | 30,236 | +3% |
| VisaV | 2.4% | $9m | 26,226 | Held |
| Meta PlatformsMETA | 2.3% | $9m | 15,296 | +89% |
| MastercardMA | 1.9% | $7m | 14,120 | +17% |
| Thermo Fisher ScientificTMO | 1.6% | $6m | 12,077 | Held |
| NetflixNFLX | 1.5% | $6m | 77,688 | +55% |
| AbbVieABBV | 1.4% | $5m | 20,895 | +22% |
| Marsh & McLennan CompaniesMRSH | 1.4% | $5m | 30,420 | Held |
| Taiwan Semiconductor ManufacturingTSM | 1.3% | $5m | 10,501 | Held |
| EatonETN | 1.3% | $5m | 11,606 | New |
| Waste ManagementWM | 1.3% | $5m | 22,189 | Held |
| AonAON | 1.3% | $5m | 14,835 | -17% |
| S&P GlobalSPGI | 1.3% | $5m | 11,974 | Held |
| Veeva SystemsVEEV | 1.3% | $5m | 27,459 | Held |
| UnitedHealth GroupUNH | 1.3% | $5m | 11,360 | -30% |
| Advanced Drainage SystemsWMS | 1.2% | $5m | 29,614 | +97% |
| Lowe's CompaniesLOW | 1.2% | $5m | 20,417 | New |
| AmphenolAPH | 1.2% | $4m | 25,506 | New |
| LPL Financial HoldingsLPLA | 1.2% | $4m | 15,700 | +15% |
| Abbott LaboratoriesABT | 1.2% | $4m | 47,744 | +15% |
| Motorola SolutionsMSI | 1.1% | $4m | 10,292 | +27% |
| CencoraCOR | 1.1% | $4m | 15,065 | +43% |
| Otis WorldwideOTIS | 1.1% | $4m | 57,439 | New |
| AccentureACN | 1.1% | $4m | 32,805 | +54% |
| Uber TechnologiesUBER | 1.1% | $4m | 56,338 | -15% |
| Boot Barn HoldingsBOOT | 1.1% | $4m | 24,709 | +7% |
| Eli LillyLLY | 1.1% | $4m | 3,361 | +24% |
| Agilent TechnologiesA | 1.1% | $4m | 30,262 | -10% |
| TE ConnectivityTEL | 1.1% | $4m | 19,925 | Held |
| Dick's Sporting GoodsDKS | 1.1% | $4m | 17,709 | -11% |
| Mettler Toledo InternationalMTD | 1.1% | $4m | 3,141 | +59% |
| McDonald'sMCD | 1.1% | $4m | 14,820 | +110% |
| CDWCDW | 1.1% | $4m | 28,408 | +6% |
| MercadoLibreMELI | 1.0% | $4m | 2,274 | +70% |
| Booking HoldingsBKNG | 1.0% | $4m | 21,614 | Held |
| American ExpressAXP | 1.0% | $4m | 11,316 | +124% |
| HCA HealthcareHCA | 1.0% | $4m | 9,638 | New |
| Tractor SupplyTSCO | 1.0% | $4m | 117,343 | +27% |
| Service Corp InternationalSCI | 1.0% | $4m | 48,444 | -5% |
| Spotify TechnologySPOT | 1.0% | $4m | 7,962 | New |
| Core & MainCNM | 1.0% | $4m | 75,405 | Held |
| OracleORCL | 1.0% | $4m | 24,675 | -10% |
| AutodeskADSK | 1.0% | $4m | 18,535 | +28% |
| Procter & GamblePG | 0.9% | $4m | 23,901 | Held |
| Houlihan LokeyHLI | 0.9% | $3m | 25,684 | Held |
| Manhattan AssociatesMANH | 0.9% | $3m | 24,392 | -17% |
| Broadridge Financial SolutionsBR | 0.9% | $3m | 24,789 | +19% |
| DexcomDXCM | 0.9% | $3m | 49,999 | Held |
| Applied MaterialsAMAT | 0.9% | $3m | 4,657 | New |
| StrykerSYK | 0.9% | $3m | 10,511 | New |
| ServiceNowNOW | 0.8% | $3m | 30,727 | -11% |
| BJ's Wholesale Club HoldingsBJ | 0.8% | $3m | 34,968 | Held |
| Paylocity HoldingPCTY | 0.8% | $3m | 27,859 | -15% |
| ZoetisZTS | 0.7% | $3m | 35,023 | Held |
| GE HealthCare TechnologiesGEHC | 0.7% | $3m | 39,179 | New |
| Moody'sMCO | 0.7% | $2m | 5,381 | Held |
| MsciMSCI | 0.6% | $2m | 4,324 | -19% |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 17.4% since 30 June 2025.
Where the money is
Technology34.9%
Financial services15.4%
Health care15.2%
Media & telecom12.0%
Retail & consumer12.0%
Industrials8.7%
Everyday goods1.8%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.