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BERTHEL, FISHER & COMPANY FINANCIAL SERVICES, INC. — 13F Holdings & Portfolio

CIK 717799 · latest 13F-HR filed 2026-10-30

Backtest portfolio

BERTHEL, FISHER & COMPANY FINANCIAL SERVICES, INC. manages $743.2M in 13F-reported U.S. long-equity assets across 2,389 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are NVDA (9.87%), AAPL (4.80%), TSM (3.02%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 142 new positions and exited 211; 1,126 existing positions rose in reported value and 716 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM
$743.2M

Long-equity book

Holdings
2,389

Distinct positions

Period
2026-06-30

Filed 2026-10-30

Q/Q Activity
+142 / −211 / ↑1126 / ↓716

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
NVDA9.9% · -7%AAPL4.8% · -7%TSM3.0% · -9%QQQ2.4% · -18%VIG2.0% · -0%MSFT1.2% · -21%AMZN1.1% · -20%SPY1.0% · -53%NOBL1.0% · +89%AVGO0.9% · -16%GOOG0.9% · -2%GOOGL0.9% · -29%VOO0.8% · -22%SCHD0.8% · +6%ONEQ0.8% · -3%BX0.8% · -1%AMD0.7% · -18%CRWD0.7% · -25%VYM0.7% · +1%VCIT0.7% · +6%VNQ0.6% · +5%VIGI0.6% · -12%REGL0.6% · +2%VYMI0.6% · +7%SMH0.6% · -7%VEA0.5% · -4%PLTR0.5% · -46%BRK.B0.5% · -41%VTI0.5% · -0%TSLA0.5% · -12%META0.5% · -12%PANW0.5% · -33%VPU0.5% · +5%APUE0.5% · +22%XSD0.5% · -1%VTEB0.5% · -2%CAT0.5% · -10%ITA0.4% · -7%SDY0.4% · -22%ABBV0.4% · -35%SCHG0.4% · -4%RWL0.4% · -1%IVV0.4% · +14%AMLP0.4% · +29%LRCX0.4% · +6%XOM0.4% · -15%TDV0.4% · +9%FDVV0.4% · -1%PTNQ0.4% · +0%WMT0.4% · -8%XLK0.4% · -0%KLAC0.4% · +1333%VUG0.3% · +449%PG0.3% · -9%IWF0.3% · +303%RPG0.3% · +33%PFXF0.3% · +16%CVX0.3% · -30%XMPT0.3% · -4%LLY0.3% · -42%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

2 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 27.2%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

Name Title / Status Ownership Type

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

BERTHEL, FISHER & COMPANY FINANCIAL SERVICES, INC. Holdings (2026-06-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 NVIDIA CORPORATION NVDA 67066G104 $73.4M 9.87% 366,777 SH
2 APPLE INC AAPL 037833100 $35.6M 4.80% 123,199 SH
3 TAIWAN SEMICONDUCTOR MANUFAC TSM 874039100 $22.4M 3.02% 47,007 SH
4 INVESCO QQQ TR QQQ 46090E103 $18.0M 2.42% 24,377 SH
5 VANGUARD SPECIALIZED FUNDS VIG 921908844 $14.9M 2.00% 62,763 SH
6 MICROSOFT CORP MSFT 594918104 $8.6M 1.16% 23,040 SH
7 AMAZON COM INC AMZN 023135106 $7.9M 1.07% 33,255 SH
8 STATE STR SPDR S&P 500 ETF T SPY 78462F103 $7.4M 0.99% 9,867 SH
9 PROSHARES TR NOBL 74348A467 $7.3M 0.98% 130,259 SH
10 BROADCOM INC AVGO 11135F101 $6.9M 0.93% 18,393 SH
11 ALPHABET INC GOOG 02079K107 $6.7M 0.90% 18,964 SH
12 ALPHABET INC GOOGL 02079K305 $6.6M 0.89% 18,474 SH
13 VANGUARD INDEX FDS VOO 922908363 $6.3M 0.84% 9,122 SH
14 SCHWAB STRATEGIC TR SCHD 808524797 $6.0M 0.81% 189,626 SH
15 FIDELITY COMWLTH TR ONEQ 315912808 $6.0M 0.80% 57,783 SH
16 BLACKSTONE INC BX 09260D107 $5.7M 0.77% 48,680 SH
17 ADVANCED MICRO DEVICES INC AMD 007903107 $5.6M 0.75% 9,588 SH
18 CROWDSTRIKE HLDGS INC CRWD 22788C105 $5.1M 0.69% 6,678 SH
19 VANGUARD WHITEHALL FDS VYM 921946406 $4.9M 0.67% 31,300 SH
20 VANGUARD SCOTTSDALE FDS VCIT 92206C870 $4.9M 0.66% 59,100 SH
21 VANGUARD INDEX FDS VNQ 922908553 $4.5M 0.60% 46,512 SH
22 VANGUARD WHITEHALL FDS VIGI 921946810 $4.4M 0.59% 46,904 SH
23 PROSHARES TR REGL 74347B680 $4.2M 0.57% 46,318 SH
24 VANGUARD WHITEHALL FDS VYMI 921946794 $4.2M 0.57% 43,125 SH
25 VANECK ETF TRUST SMH 92189F676 $4.1M 0.55% 6,287 SH
26 VANGUARD TAX-MANAGED FDS VEA 921943858 $4.0M 0.54% 56,551 SH
27 PALANTIR TECHNOLOGIES INC PLTR 69608A108 $4.0M 0.54% 34,299 SH
28 BERKSHIRE HATHAWAY INC DEL BRK.B 084670702 $3.9M 0.52% 7,763 SH
29 VANGUARD INDEX FDS VTI 922908769 $3.7M 0.50% 10,113 SH
30 TESLA INC TSLA 88160R101 $3.7M 0.49% 8,683 SH
31 META PLATFORMS INC META 30303M102 $3.6M 0.48% 6,397 SH
32 PALO ALTO NETWORKS INC PANW 697435105 $3.5M 0.48% 10,362 SH
33 VANGUARD WORLD FD VPU 92204A876 $3.5M 0.47% 18,020 SH
34 TRUST FOR PROFESSIONAL MANAG APUE 89834G729 $3.5M 0.47% 76,081 SH
35 SPDR SERIES TRUST XSD 78464A862 $3.4M 0.46% 5,510 SH
36 VANGUARD MUN BD FDS VTEB 922907746 $3.3M 0.45% 66,104 SH
37 CATERPILLAR INC CAT 149123101 $3.3M 0.45% 3,137 SH
38 ISHARES TR ITA 464288760 $3.3M 0.44% 13,523 SH
39 SPDR SERIES TRUST SDY 78464A763 $3.2M 0.44% 21,353 SH
40 ABBVIE INC ABBV 00287Y109 $3.1M 0.42% 12,440 SH
41 SCHWAB STRATEGIC TR SCHG 808524300 $3.0M 0.41% 90,025 SH
42 INVESCO EXCH TRADED FD TR II RWL 46138G698 $2.9M 0.39% 22,745 SH
43 ISHARES TR IVV 464287200 $2.9M 0.39% 3,877 SH
44 ALPS ETF TR AMLP 00162Q452 $2.9M 0.39% 55,905 SH
45 LAM RESEARCH CORP LRCX 512807306 $2.8M 0.38% 6,439 SH
46 EXXON MOBIL CORP XOM 30231G102 $2.8M 0.37% 20,250 SH
47 PROSHARES TR TDV 74347G606 $2.8M 0.37% 26,563 SH
48 FIDELITY COVINGTON TRUST FDVV 316092840 $2.7M 0.37% 45,269 SH
49 PACER FDS TR PTNQ 69374H303 $2.7M 0.37% 30,606 SH
50 WALMART INC WMT 931142103 $2.7M 0.36% 23,445 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-10-30 $743.2M 2,389 0001420506-26-002434
2026-03-31 2026-10-30 $740.6M 2,458 0001420506-26-002433
Filer Information
Address
4201 42ND STREET NE
SUITE 100
CEDAR RAPIDS, IA 52402
Phone
(319) 447-5700
Filing Manager
BERTHEL, FISHER & COMPANY FINANCIAL SERVICES, INC.
CEDAR RAPIDS, IA
Signatory
Jeff Roseman
General Counsel