BA
Bell Asset Management Ltd 13F Holdings & Position Changes (Q3 2026)
Bell Asset Management LtdCIK: 0001681004
Diversified strategyContrarianQuality / disciplined sizing
Total reported value
$276.8M
Reporting period: 2026-09-30 · Number of holdings: 68
Bell Asset Management Ltd disclosed 68 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $276.8M and a quarterly turnover rate of 50.2%.
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Personality snowflake
- Concentration
- 13.21
- Portfolio Stability
- 50.22
- Momentum
- 0
- Sector conviction
- 70.88
- Diversification
- 100
- Sizing Uniformity
- 88.76
Bell Asset Management Ltd's disclosed holdings carry a Herfindahl concentration index of 0.033 — mathematically equivalent to about 30 equally-sized positions, well below its 68 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.12), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd MSFT
-32.9% -$1.7M
New buy CDNS
Sold out AON
New buy KEYS
Trim JPM
-61.9% -$6.1M
Sold out OTIS
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 10.26% | +0.93% | -28.84% | |
| 2 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 7.37% | +0.12% | -22.00% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 7.26% | +1.44% | -32.91% | |
| 4 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 4.71% | +0.15% | -26.94% | |
| 5 | AVGO | Broadcom Inc | Stock-Tech | 3.89% | -0.14% | -23.28% | |
| 6 | AAPL | Apple Inc | Stock-Tech | 3.24% | -0.03% | -36.28% | |
| 7 | META | Meta Platforms Inc-class A | Stock-Comm Services | 2.58% | +0.28% | -35.56% | |
| 8 | V | Visa Inc-class A Shares | Stock-Financials | 1.55% | -0.85% | -54.50% | |
| 9 | NFLX | Netflix Inc | Stock-Comm Services | 1.53% | +0.05% | -21.85% | |
| 10 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 1.47% | +0.21% | -2.32% | |
| 11 | MA | Mastercard Inc - A | Stock-Financials | 1.42% | -0.52% | -49.43% | |
| 12 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 1.40% | +0.06% | -19.06% | |
| 13 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.38% | -1.26% | -61.88% | |
| 14 | SPGI | S&p Global Inc | Stock-Financials | 1.37% | +0.07% | -19.52% | |
| 15 | CDNS | Cadence Design Sys Inc | Stock-Tech | 1.37% | +1.37% | NEW | |
| 16 | KEYS | Keysight Technologies In | Stock-Tech | 1.29% | +1.29% | NEW | |
| 17 | AMAT | Applied Materials Inc | Stock-Tech | 1.28% | +0.38% | +48.77% | |
| 18 | APH | Amphenol Corp-cl A | Stock-Tech | 1.27% | +0.07% | +63.98% | |
| 19 | ABT | Abbott Laboratories | Stock-Healthcare | 1.15% | -0.01% | -32.33% | |
| 20 | TER | Teradyne Inc | Stock-Tech | 1.10% | +1.10% | NEW | |
| 21 | ADSK | Autodesk Inc | Stock-Tech | 1.08% | +0.12% | -22.91% | |
| 22 | VEEV | Veeva Systems Inc-class A | Stock-Healthcare | 1.07% | -0.23% | -62.31% | |
| 23 | BKNG | Booking Holdings Inc | Stock-Consumer Disc | 1.05% | +0.02% | -17.45% | |
| 24 | ABBV | Abbvie Inc | Stock-Healthcare | 1.02% | -0.38% | -48.16% | |
| 25 | TEL | TE Connectivity plc | Stock-Tech | 1.02% | -0.05% | -32.83% | |
| 26 | AXP | American Express Co | Stock-Financials | 1.02% | — | -17.91% | |
| 27 | ORCL | Oracle CORP | Stock-Tech | 1.02% | +0.05% | -16.73% | |
| 28 | LECO | Lincoln Electric Holdings | Stock-Industrials | 1.01% | +1.01% | NEW | |
| 29 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 1.01% | -0.06% | -18.37% | |
| 30 | SYK | Stryker CORP | Stock-Healthcare | 1.01% | +0.13% | -3.55% | |
| 31 | LPLA | Lpl Financial Holdings Inc | Stock-Financials | 1.01% | -0.17% | -41.94% | |
| 32 | HCA | Hca Healthcare Inc | Stock-Healthcare | 1.01% | +0.01% | -32.29% | |
| 33 | MRSH | Marsh & Mclennan Cos | Stock-Financials | 1.00% | -0.35% | -46.61% | |
| 34 | BR | Broadridge Financial Solutio | Stock-Tech | 1.00% | +0.09% | -30.70% | |
| 35 | IDXX | Idexx Laboratories Inc | Stock-Healthcare | 0.99% | +0.99% | NEW | |
| 36 | ISRG | Intuitive Surgical Inc | Stock-Healthcare | 0.97% | +0.97% | NEW | |
| 37 | MELI | Mercadolibre Inc | Stock-Consumer Disc | 0.96% | -0.07% | -32.10% | |
| 38 | VRT | Vertiv Holdings Co-a | Stock-Industrials | 0.96% | +0.96% | NEW | |
| 39 | ETN | Eaton Corporation plc | Stock-Industrials | 0.96% | -0.36% | -46.67% | |
| 40 | MSI | Motorola Solutions Inc | Stock-Tech | 0.96% | -0.18% | -42.10% | |
| 41 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.95% | -0.13% | -32.49% | |
| 42 | UBER | Uber Technologies Inc | Stock-Industrials | 0.94% | -0.15% | -32.57% | |
| 43 | QCOM | Qualcomm Inc | Stock-Tech | 0.94% | +0.94% | NEW | |
| 44 | WM | Waste Management Inc | Stock-Industrials | 0.93% | -0.39% | -42.95% | |
| 45 | NOW | Servicenow Inc | Stock-Tech | 0.93% | +0.12% | -37.36% | |
| 46 | LOW | Lowe's Cos Inc | Stock-Consumer Disc | 0.92% | -0.28% | -32.62% | |
| 47 | WMS | Advanced Drainage Systems In | Stock-Industrials | 0.91% | -0.33% | -32.90% | |
| 48 | HLI | Houlihan Lokey Inc | Stock-Financials | 0.91% | -0.01% | -22.68% | |
| 49 | GEHC | GE Healthcare Technology | Stock-Healthcare | 0.90% | +0.23% | -2.23% | |
| 50 | MSCI | Msci Inc | Stock-Financials | 0.90% | +0.25% | +7.42% |
1–50 of 68
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Portfolio Performance
Performance for Q4 2026
+2.7%
Performance Last 4 Quarters
+8.2%
- Stdev
- +12.9%
- Beta
- +0.94
- Alpha
- -5.3%
- Max Drawdown
- -10%
- Annualized Perf
- +16.3%
- Batting Avg vs S&P
- +33.3%
- Sortino
- +2.29
- Stutzer
- +0.36
- Treynor
- +0.17
- Sterling
- +0.94
- Calmar
- +1.63
- Information Ratio
- -1.13
- Tracking Error
- +5.9%
- Stdev Down
- +7%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +24.4%
- Worst 12 Months
- +2.4%
- Efficiency Ratio
- +0.49
- Sharpe
- +1.25
- Stdev Sectors
- +11.6%
- Skewness
- -0.16
- Kurtosis
- -0.4
- Upside Potential
- +3.97
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q3 | 68 | $276.8M | 50 | ||
| 2026 Q2 | 63 | $374.5M | 32 | ||
| 2026 Q1 | 61 | $339.8M | 35 | ||
| 2025 Q4 | 59 | $374.1M | 32 | ||
| 2025 Q3 | 63 | $365.9M | 66 | ||
| 2025 Q2 | 62 | $453.5M | 0 | ||
| 2025 Q1 | 66 | $543.5M | 100 | ||
| 2024 Q4 | 64 | $549.1M | 0 | ||
| 2024 Q3 | 64 | $545.9M | 0 | ||
| 2024 Q2 | 63 | $712.9M | 0 | ||
| 2024 Q1 | 61 | $682.3M | 0 | ||
| 2023 Q4 | 64 | $655.7M | 0 | ||
| 2023 Q3 | 63 | $607.6M | 0 | ||
| 2023 Q2 | 62 | $584.5M | 0 | ||
| 2023 Q1 | 60 | $547.1M | 0 | ||
| 2022 Q4 | 60 | $534.1M | 0 | ||
| 2022 Q3 | 57 | $493.1M | 0 | ||
| 2022 Q2 | 58 | $506.9M | 0 | ||
| 2022 Q1 | 57 | $581.0M | 0 | ||
| 2021 Q4 | 55 | $620.3M | 0 | ||
| 2021 Q3 | 59 | $586.4M | 0 | ||
| 2021 Q2 | 61 | $511.2M | 95 | ||
| 2021 Q1 | 60 | $465.7M | 27 | ||
| 2020 Q4 | 60 | $457.0M | 21 | ||
| 2020 Q3 | 60 | $401.9M | 22 | ||
| 2020 Q2 | 60 | $368.7M | 26 | ||
| 2020 Q1 | 61 | $320.9M | 38 | ||
| 2019 Q4 | 67 | $388.8M | 65 | ||
| 2019 Q3 | 66 | $651.2M | 22 | ||
| 2019 Q2 | 63 | $616.8M | 12 | ||
| 2019 Q1 | 61 | $581.8M | 26 | ||
| 2018 Q4 | 62 | $476.0M | 16 | ||
| 2018 Q3 | 65 | $480.9M | 21 | ||
| 2018 Q2 | 63 | $414.4M | 37 | ||
| 2018 Q1 | 59 | $499.4M | 40 | ||
| 2017 Q4 | 63 | $418.4M | 0 |
Holding changes this quarter
Bell Asset Management Ltd's most significant position changes for 2026-09-30: Sold out: Aon plc (AON); Sold out: Otis Worldwide CORP (OTIS); New buy: Cadence Design Sys Inc (CDNS); Sold out: Tractor Supply Company (TSCO); New buy: Keysight Technologies In (KEYS).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | +1.4% | -32.91% | Trim |
| 2 | CDNS | Cadence Design Sys Inc | +1.4% | NEW | New buy |
| 3 | KEYS | Keysight Technologies In | +1.3% | NEW | New buy |
| 4 | TER | Teradyne Inc | +1.1% | NEW | New buy |
| 5 | LECO | Lincoln Electric Holdings | +1% | NEW | New buy |
| 6 | IDXX | Idexx Laboratories Inc | +1% | NEW | New buy |
| 7 | ISRG | Intuitive Surgical Inc | +1% | NEW | New buy |
| 8 | VRT | Vertiv Holdings Co-a | +1% | NEW | New buy |
| 9 | QCOM | Qualcomm Inc | +0.9% | NEW | New buy |
| 10 | NVDA | Nvidia CORP | +0.9% | -28.84% | Trim |
| 11 | CBOE | Cboe Global Markets Inc | +0.9% | NEW | New buy |
| 12 | PEP | Pepsico Inc | +0.8% | NEW | New buy |
| 13 | TJX | Tjx Companies Inc | +0.7% | NEW | New buy |
| 14 | CAT | Caterpillar Inc | +0.7% | NEW | New buy |
| 15 | AMAT | Applied Materials Inc | +0.4% | +48.77% | Add |
| 16 | META | Meta Platforms Inc-class A | +0.3% | -35.56% | Trim |
| 17 | MSCI | Msci Inc | +0.3% | +7.42% | Add |
| 18 | GEHC | GE Healthcare Technology | +0.2% | -2.23% | Trim |
| 19 | UNH | Unitedhealth Group Inc | +0.2% | -2.32% | Trim |
| 20 | AMZN | Amazon.com Inc | +0.2% | -26.94% | Trim |
| 21 | SYK | Stryker CORP | +0.1% | -3.55% | Trim |
| 22 | GOOGL | Alphabet Inc-cl A | +0.1% | -22.00% | Trim |
| 23 | ADSK | Autodesk Inc | +0.1% | -22.91% | Trim |
| 24 | NOW | Servicenow Inc | +0.1% | -37.36% | Trim |
| 25 | BR | Broadridge Financial Solutio | +0.1% | -30.70% | Trim |
| 26 | SPGI | S&p Global Inc | +0.1% | -19.52% | Trim |
| 27 | APH | Amphenol Corp-cl A | +0.1% | +63.98% | Add |
| 28 | TSM | Taiwan Semiconductor-sp Adr | +0.1% | -19.06% | Trim |
| 29 | NFLX | Netflix Inc | +0.1% | -21.85% | Trim |
| 30 | ORCL | Oracle CORP | +0.1% | -16.73% | Trim |
| 31 | BKNG | Booking Holdings Inc | 0% | -17.45% | Trim |
| 32 | HCA | Hca Healthcare Inc | 0% | -32.29% | Trim |
| 33 | AXP | American Express Co | — | -17.91% | Trim |
| 34 | ABT | Abbott Laboratories | 0% | -32.33% | Trim |
| 35 | HLI | Houlihan Lokey Inc | 0% | -22.68% | Trim |
| 36 | AAPL | Apple Inc | 0% | -36.28% | Trim |
| 37 | TEL | TE Connectivity plc | -0.1% | -32.83% | Trim |
| 38 | MCO | Moody's CORP | -0.1% | -32.17% | Trim |
| 39 | MCD | Mcdonald's CORP | -0.1% | -18.37% | Trim |
| 40 | MELI | Mercadolibre Inc | -0.1% | -32.10% | Trim |
| 41 | SCI | Service CORP International | -0.1% | -33.56% | Trim |
| 42 | BJ | Bj's Wholesale Club Holdings | -0.1% | -38.52% | Trim |
| 43 | LLY | Eli Lilly & Co | -0.1% | -32.49% | Trim |
| 44 | SPOT | Spotify Technology S.A. | -0.1% | -39.22% | Trim |
| 45 | AVGO | Broadcom Inc | -0.1% | -23.28% | Trim |
| 46 | UBER | Uber Technologies Inc | -0.2% | -32.57% | Trim |
| 47 | LPLA | Lpl Financial Holdings Inc | -0.2% | -41.94% | Trim |
| 48 | DXCM | Dexcom Inc | -0.2% | -52.87% | Trim |
| 49 | MSI | Motorola Solutions Inc | -0.2% | -42.10% | Trim |
| 50 | A | Agilent Technologies Inc | -0.2% | -53.55% | Trim |
1–50 of 75
Filing History
FAQ
What is Bell Asset Management Ltd and what type of investor is it?
Bell Asset Management Ltd is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-09-30), the firm manages a tracked equity portfolio valued at approximately $276.8M, spread across 68 disclosed positions.
What are Bell Asset Management Ltd's largest equity positions?
Based on the latest 13F filing, Bell Asset Management Ltd's top holdings by market value are:
1. Nvidia CORP (NVDA) — $28.4M (10.3%)
2. Alphabet Inc-cl A (GOOGL) — $20.4M (7.4%)
3. Microsoft CORP (MSFT) — $20.1M (7.3%)
4. Amazon.com Inc (AMZN) — $13.0M (4.7%)
5. Broadcom Inc (AVGO) — $10.8M (3.9%)
What changes did Bell Asset Management Ltd make in its most recent portfolio filing?
In the latest reported quarter, Bell Asset Management Ltd made 75 notable position adjustments: 12 new positions were initiated, 3 existing holdings were added to, 53 positions were partially reduced, and 7 were completely exited. The largest of these moves: Sold out: Aon plc (AON); Sold out: Otis Worldwide CORP (OTIS); New buy: Cadence Design Sys Inc (CDNS); Sold out: Tractor Supply Company (TSCO); New buy: Keysight Technologies In (KEYS)
What sectors does Bell Asset Management Ltd focus on?
Bell Asset Management Ltd is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 40.8%
• Health Care: 14.5%
• Communication Services: 12.3%
• Financials: 12.1%
• Consumer Discretionary: 11.6%
• Industrials: 7.2%
Investment Profile
Bell Asset Management Ltd returned an annualized 16.3% over the trailing 36 months — underperforming the S&P 500 by 5.3 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.94 (roughly in line with the market) and a 33% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 40.8% of the portfolio concentrated in Information Technology.
Its turnover score has fallen from 66 to 50 over the past 4 quarters — a shift toward longer holding periods.
It has trimmed its AAPL position for two straight quarters, cutting it by $11.0M while still holding $9.0M.
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Developer Access
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REST API
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