Bedel Financial Consulting, Inc.

CIK

1730511

Location

INDIANAPOLIS, IN

Portfolio Value

Small $502,623,580

Diversification

Highly concentrated

Filing Date

Global Rank

#2,600 / 8,605 ▼ 108 · as of Mar 2026

Top Industry

Drug Manufacturers - General 67.9%

3Y Alpha vs SPY

+10.2%

Period ended 3 months ago

Filed May 4, 2026 · 2mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+125.3%

SPY

+76.5%

Annualised alpha

+10.2%

Max drawdown

−19.7%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

149 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

63.3%

−2.7 pts

Top 5

74.2%

−2.6 pts

Top 10

79.6%

−2.2 pts

HHI

4,052

Highly concentrated−353

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Healthcare	66.4%	$333,893,045	24
Technology	10.6%	$53,516,570	20
Financial Services	5.6%	$28,091,407	20
Unclassified	3.9%	$19,459,054	7
Industrials	2.9%	$14,397,242	18
Consumer Defensive	2.6%	$13,105,667	13
Consumer Cyclical	2.4%	$12,302,156	10
Communication Services	2.1%	$10,712,216	7
Energy	1.7%	$8,414,446	9
Utilities	1.0%	$4,858,176	11
Real Estate	0.4%	$2,198,613	4
Basic Materials	0.3%	$1,674,988	6

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
EXLS	ExlService Holdings, Inc.	+5,844	26,557	$808,660
PLTR	Palantir Technologies Inc.	+1,713	10,754	$1,573,095
SPY	Spdr S&P 500 ETF Trust	+1,671	20,731	$13,482,198
FBTC	Fidelity Wise Origin Bitcoin Fund	+1,411	16,177	$954,928
FFBC	First Financial Bancorp /Oh/	+861	28,273	$788,251
FE	Firstenergy Corp	+596	9,009	$456,395
LLY	ELI LILLY & Co	+539	345,976	$318,218,345
HBAN	Huntington Bancshares Inc /Md/	+433	77,746	$1,216,724
TJX	Tjx Companies Inc /De/	+342	3,891	$621,392
AMZN	Amazon Com Inc	+211	14,091	$2,934,732
T	At&T Inc.	+108	18,901	$547,939
CEG	Constellation Energy Corp	+102	1,398	$390,391
SHOP	Shopify Inc.	+100	3,250	$385,515
MPLX	Mplx LP	+76	10,551	$602,145
ET	Energy Transfer LP	+74	16,667	$321,673
MSFT	Microsoft Corp	+73	33,704	$12,476,209
BAC	Bank Of America Corp /De/	+68	16,272	$793,260
GOOGL	Alphabet Inc.	+67	21,117	$6,072,404
RTX	RTX Corp	+48	6,466	$1,247,291
QQQ	Invesco Qqq Trust, Series 1	+45	750	$432,885
NVDA	Nvidia Corp	+43	25,258	$4,404,995
GS	Goldman Sachs Group Inc	+35	427	$361,237
EXC	Exelon Corp	+30	4,919	$241,129
NJR	New Jersey Resources Corp	+27	8,959	$492,028
ABBV	AbbVie Inc.	+24	11,748	$2,555,072
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
NEE	Nextera Energy Inc	−2,000	9,181	$852,731
PG	PROCTER & GAMBLE Co	−1,504	10,602	$1,531,352
AAPL	Apple Inc.	−858	76,889	$19,513,659
SLV	iShares Silver Trust	−715	3,694	$251,709
INTC	Intel Corp	−554	23,429	$1,033,921
CMI	Cummins Inc	−349	6,763	$3,638,629
AMD	Advanced Micro Devices Inc	−273	2,808	$571,231
WFC	Wells Fargo & Company/Mn	−261	8,472	$674,455
SBUX	Starbucks Corp	−240	4,733	$424,029
JPM	Jpmorgan Chase & Co	−217	31,500	$9,266,040
AXP	American Express Co	−217	4,245	$1,284,027
BRK-B	Berkshire Hathaway Inc	−185	18,486	$8,858,491
VZ	Verizon Communications Inc	−182	7,103	$356,570
SPG	Simon Property Group Inc.	−157	7,718	$1,439,638
ACN	Accenture plc	−141	1,204	$238,741
PFE	Pfizer Inc	−137	33,377	$937,226
DIS	Walt Disney Co	−107	14,002	$1,349,512
MS	Morgan Stanley	−106	3,242	$533,535
BA	Boeing Co	−102	1,494	$297,350
JNJ	Johnson & Johnson	−99	13,199	$3,226,363
XOM	Exxon Mobil Corp	−76	23,917	$4,057,758
AMAT	Applied Materials Inc /De	−70	9,160	$3,130,796
ELV	Elevance Health, Inc.	−70	2,608	$763,492
UNH	Unitedhealth Group Inc	−68	1,031	$278,978
WMT	Walmart Inc.	−66	25,279	$3,141,674
No positions match the current search.

New Positions

Positions the filer opened this quarter

10 positions

Ticker	Company	Shares	Value
Q	Qnity Electronics, Inc.	2,387	$275,412
IRM	Iron Mountain Inc	2,392	$244,318
AZN	Astrazeneca PLC	1,200	$236,664
MPC	Marathon Petroleum Corp	967	$236,122
DOW	Dow Inc.	5,662	$235,822
RIO	Rio Tinto PLC	2,498	$233,038
GILD	Gilead Sciences, Inc.	1,606	$223,828
DD	DuPont de Nemours, Inc.	4,881	$223,549
TGT	Target Corp	1,771	$214,645
TTE	TotalEnergies SE	2,264	$205,978
No positions match the current search.

Sold Out

Positions the filer fully exited

9 positions

Ticker	Company	Shares	Value
CTAS	Cintas Corp	3,812	$716,922
WAT	Waters Corp /De/	600	$227,898
QBTS	D-Wave Quantum Inc.	8,695	$227,374
PRU	Prudential Financial Inc	1,900	$214,472
NKE	NIKE, Inc.	3,347	$213,237
MDT	Medtronic plc	2,160	$207,489
LNC	Lincoln National Corp	4,587	$204,259
TSCO	Tractor Supply Co /De/	4,006	$200,340
CRWD	CrowdStrike Holdings, Inc.	436	$51,094
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

149 positions · $502,623,580 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 149 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
LLY	ELI LILLY & Co Healthcare	Added	345,976	+539	$318,218,345	−14.3%	63.31%
AAPL	Apple Inc. Technology	Reduced	76,889	-858	$19,513,659	−7.7%	3.88%
SPY	Spdr S&P 500 ETF Trust	Added	20,731	+1,671	$13,482,198	+3.7%	2.68%
MSFT	Microsoft Corp Technology	Added	33,704	+73	$12,476,209	−23.3%	2.48%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	31,500	-217	$9,266,040	−9.3%	1.84%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	18,486	-185	$8,858,491	−5.6%	1.76%
GOOGL	Alphabet Inc. Communication Services	Added	21,117	+67	$6,072,404	−7.8%	1.21%
NVDA	Nvidia Corp Technology	Added	25,258	+43	$4,404,995	−6.3%	0.88%
XOM	Exxon Mobil Corp Energy	Reduced	23,917	-76	$4,057,758	+40.5%	0.81%
CMI	Cummins Inc Industrials	Reduced	6,763	-349	$3,638,629	+0.2%	0.72%
GLD	Spdr Gold Trust	Reduced	8,319	-35	$3,579,582	+8.1%	0.71%
JNJ	Johnson & Johnson Healthcare	Reduced	13,199	-99	$3,226,363	+17.2%	0.64%
WMT	Walmart Inc. Consumer Defensive	Reduced	25,279	-66	$3,141,674	+11.3%	0.63%
AMAT	Applied Materials Inc /De Technology	Reduced	9,160	-70	$3,130,796	+32.0%	0.62%
AMZN	Amazon Com Inc Consumer Cyclical	Added	14,091	+211	$2,934,732	−8.4%	0.58%
ABBV	AbbVie Inc. Healthcare	Added	11,748	+24	$2,555,072	−4.6%	0.51%
CSCO	Cisco Systems, Inc. Technology	Reduced	29,555	-47	$2,293,172	+0.6%	0.46%
ORCL	Oracle Corp Technology	Reduced	15,315	-51	$2,252,989	−24.8%	0.45%
MCD	Mcdonalds Corp Consumer Cyclical	Reduced	7,118	-13	$2,212,203	+1.5%	0.44%
PEP	Pepsico Inc Consumer Defensive	Reduced	12,430	-60	$1,930,254	+7.7%	0.38%
KO	Coca Cola Co Consumer Defensive	Held	24,771	0	$1,883,834	+8.8%	0.37%
CVX	Chevron Corp Energy	Added	8,812	+6	$1,823,202	+35.8%	0.36%
HD	Home Depot, Inc. Consumer Cyclical	Reduced	5,516	-32	$1,814,157	−5.0%	0.36%
META	Meta Platforms, Inc. Communication Services	Reduced	3,014	-47	$1,724,399	−14.7%	0.34%
PLTR	Palantir Technologies Inc. Technology	Added	10,754	+1,713	$1,573,095	−2.1%	0.31%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	10,602	-1,504	$1,531,352	−11.7%	0.30%
ISRG	Intuitive Surgical Inc Healthcare	Held	3,245	0	$1,495,912	−18.6%	0.30%
HON	Honeywell International Inc Industrials	Reduced	6,432	-29	$1,453,824	+15.3%	0.29%
SPG	Simon Property Group Inc. Real Estate	Reduced	7,718	-157	$1,439,638	−1.2%	0.29%
CAT	Caterpillar Inc Industrials	Reduced	1,941	-17	$1,375,120	+22.6%	0.27%
LOW	Lowes Companies Inc Consumer Cyclical	Reduced	5,813	-34	$1,373,495	−2.6%	0.27%
DIS	Walt Disney Co Communication Services	Reduced	14,002	-107	$1,349,512	−15.9%	0.27%
TSLA	Tesla, Inc. Consumer Cyclical	Reduced	3,513	-13	$1,305,957	−17.6%	0.26%
AXP	American Express Co Financial Services	Reduced	4,245	-217	$1,284,027	−22.2%	0.26%
RTX	RTX Corp Industrials	Added	6,466	+48	$1,247,291	+6.0%	0.25%
HBAN	Huntington Bancshares Inc /Md/ Financial Services	Added	77,746	+433	$1,216,724	−9.3%	0.24%
COST	Costco Wholesale Corp /New Consumer Defensive	Reduced	1,059	-29	$1,055,219	+12.5%	0.21%
INTC	Intel Corp Technology	Reduced	23,429	-554	$1,033,921	+16.8%	0.21%
AVGO	Broadcom Inc. Technology	Added	3,288	+5	$1,017,668	−10.4%	0.20%
FBTC	Fidelity Wise Origin Bitcoin Fund	Added	16,177	+1,411	$954,928	−15.2%	0.19%
PM	Philip Morris International Inc. Consumer Defensive	Added	5,764	+2	$953,019	+3.1%	0.19%
ADP	Automatic Data Processing Inc Technology	Added	4,683	+1	$951,491	−21.0%	0.19%
V	Visa Inc. Financial Services	Added	3,135	+2	$947,522	−13.8%	0.19%
PFE	Pfizer Inc Healthcare	Reduced	33,377	-137	$937,226	+12.3%	0.19%
BSX	Boston Scientific Corp Healthcare	Held	14,618	0	$917,279	−34.2%	0.18%
GD	General Dynamics Corp Industrials	Added	2,507	+1	$860,452	+2.0%	0.17%
NEE	Nextera Energy Inc Utilities	Reduced	9,181	-2,000	$852,731	−5.0%	0.17%
MRK	Merck & Co., Inc. Healthcare	Added	6,929	+4	$833,489	+14.3%	0.17%
EXLS	ExlService Holdings, Inc. Technology	Added	26,557	+5,844	$808,660	−8.0%	0.16%
ORLY	O Reilly Automotive Inc Consumer Cyclical	Held	8,711	0	$804,112	+1.2%	0.16%