Managers / Q1 2026
Fjell Capital, LLC
CIK 0002053350 · 27 10TH STREET NORTH, FARGO, ND, 58102 · 701-491-7600
Summary
Fjell Capital, LLC reported $130M in U.S.-listed holdings across 68 positions for Q1 2026.
Its largest position, Davis Fundamental Etf Tr, represents 9.1% of the portfolio.
Compared with Q4 2025, the fund opened 7 new positions and exited 5.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 50.2% · $65M
- ETP · 49.1% · $64M
- Other · 0.3% · $343,416
- MLP · 0.3% · $335,565
- Closed-End Fund · 0.2% · $238,287
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| CAPITAL GRP FIXED INCM ETF T | NEW | +57.5K | 57.5K | +$1M | $1M |
| PIMCO ETF TR | NEW | +12.5K | 12.5K | +$1M | $1M |
| PUTNAM ETF TRUST | NEW | +81.5K | 81.5K | +$593,480 | $593,480 |
| CATCATERPILLAR INC | NEW | +442 | 442 | +$313,139 | $313,139 |
| NFLXNETFLIX INC. | NEW | +2.5K | 2.5K | +$237,202 | $237,202 |
| XLCSELECT SECTOR SPDR TR | NEW | +1.9K | 1.9K | +$209,193 | $209,193 |
| NOCNORTHROP GRUMMAN CORP | NEW | +305 | 305 | +$208,083 | $208,083 |
| VANGUARD CHARLOTTE FDS | SOLD OUT | −6.3K | 0 | −$304,368 | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2026
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | DAVIS FUNDAMENTAL ETF TR | SELECT WRLD WI | 9.06% | $12M | 268.9K |
| 2 | VUGVANGUARD INDEX FDS | MID CAP ETF · GROWTH ETF · VALUE ETF · S&P 500 ETF SHS | 7.25% | $9M | 30.8K |
| 3 | VICTORY PORTFOLIOS II | CORE INTERMEDIAT | 6.26% | $8M | 173.3K |
| 4 | NVDANVIDIA CORPORATIONhistory → | COM | 4.91% | $6M | 36.6K |
| 5 | GOOGLALPHABET INC | CAP STK CL A · CAP STK CL C | 4.50% | $6M | 20.4K |
| 6 | ISHARES TR | USD INV GRDE ETF | 4.07% | $5M | 103.2K |
| 7 | AVGOBROADCOM INChistory → | COM | 3.77% | $5M | 15.9K |
| 8 | AAPLAPPLE INChistory → | COM | 3.72% | $5M | 19.1K |
| 9 | PGIM ETF TR | SHRT DUR HGH YLD · ACTV HY BD ETF | 3.66% | $5M | 111.4K |
| 10 | INVESCO ACTIVELY MANAGED EXC | TOTAL RETURN | 3.58% | $5M | 99.5K |
| 11 | MSFTMICROSOFT CORPhistory → | COM | 3.30% | $4M | 11.6K |
| 12 | AMZNAMAZON COM INChistory → | COM | 3.09% | $4M | 19.3K |
| 13 | XLFSELECT SECTOR SPDR TR | STATE STREET TEC · STATE STREET FIN · STATE STREET CON · STATE STREET IND | 2.94% | $4M | 41.1K |
| 14 | SPDR SERIES TRUST | STATE STREET SPD | 2.68% | $3M | 38.1K |
| 15 | 2023 ETF SERIES TRUST | BRANDES INTERNAT | 2.61% | $3M | 82.3K |
| 16 | COSTCOSTCO WHOLESALE CORPORATIONhistory → | COM | 2.53% | $3M | 3.3K |
| 17 | KLACKLA CORPhistory → | COM NEW | 2.35% | $3M | 2.1K |
| 18 | CGGRUSDCAPITAL GROUP GROWTH ETFhistory → | SHS CREATION UNI | 2.07% | $3M | 67.1K |
| 19 | METAMETA PLATFORMS INChistory → | CL A | 1.72% | $2M | 3.9K |
| 20 | JPMJPMORGAN CHASE & COhistory → | COM | 1.53% | $2M | 6.8K |
| 21 | WMWASTE MGMT INC DELhistory → | COM | 1.49% | $2M | 8.4K |
| 22 | AB ACTIVE ETFS INC | HIGH YIELD ETF | 1.41% | $2M | 49.4K |
| 23 | CHVCHEVRON CORPORATIONhistory → | COM | 1.37% | $2M | 8.6K |
| 24 | AMDADVANCED MICRO DEVICES INChistory → | COM | 1.36% | $2M | 8.7K |
| 25 | NEENEXTERA ENERGY INChistory → | COM | 1.34% | $2M | 18.8K |
| 26 | MRKMERCK & CO INChistory → | COM | 1.29% | $2M | 13.9K |
| 27 | DEDEERE & COhistory → | COM | 1.26% | $2M | 2.9K |
| 28 | RTXRTX CORPORATIONhistory → | COM | 1.15% | $2M | 7.8K |
| 29 | CAPITAL GRP FIXED INCM ETF T | MUNICIPAL HIGH I | 1.12% | $1M | 57.5K |
| 30 | ICEINTERCONTINENTAL EXCHANGE INhistory → | COM | 1.05% | $1M | 8.7K |
| 31 | HDHOME DEPOT INChistory → | COM | 1.01% | $1M | 4.0K |
| 32 | BXBLACKSTONE INC | COM | 0.95% | $1M | 10.8K |
| 33 | PIMCO ETF TR | ACTIVE BD ETF | 0.89% | $1M | 12.5K |
| 34 | ARESARES MANAGEMENT CORPORATION | CL A COM STK | 0.79% | $1M | 9.4K |
| 35 | CASYCASEYS GEN STORES INC | COM | 0.70% | $911,281 | 1.3K |
| 36 | MRSHMARSH & MCLENNAN COS INC | COM | 0.68% | $884,266 | 5.1K |
| 37 | PUTNAM ETF TRUST | FRANKLIN CALIF | 0.46% | $593,480 | 81.5K |
| 38 | CRMSALESFORCE INC | COM | 0.44% | $573,374 | 3.1K |
| 39 | DHRDANAHER CORP DEL | COM | 0.43% | $561,085 | 3.0K |
| 40 | UNPUNION PAC CORP | COM | 0.42% | $543,013 | 2.2K |
| 41 | SOSOUTHERN CO | COM | 0.40% | $517,637 | 5.4K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $130M | 68 | Apr 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $130M | 66 | Jan 12, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $114M | 58 | Oct 24, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $108M | 53 | Jul 9, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $99M | 51 | Apr 11, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $97M | 54 | Feb 5, 2025 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.