Fjell Capital, LLC

Registered adviser

CIK

2053350

Location

FARGO, ND

Portfolio Value

Small $147,751,883

Diversification

Diversified

Filing Date

Global Rank

#7,389 / 8,811 ▼ 197 · as of Jun 2026

Top Industry

Semiconductors 22.9%

Period ended 21 days ago

Filed Oct 13, 2026 · 8d

8 quarters · since Dec 2024

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 327541

Roster of Oct 1, 2026

Regulatory AUM

$187,026,631

Main clients

Individuals and high net worth (96% of AUM)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$187,026,631	Individuals and high net worth (96%)
Apr 2025 to Mar 2026	$157,181,843	Individuals and high net worth (96%)
Oct 2024 to Mar 2025	$145,943,100	Individuals and high net worth (97%)
Apr 2024 to Sep 2024	$129,656,341	Individuals and high net worth (97%)
Jan 2024 to Mar 2024	$106,078,461	Individuals and high net worth (97%)
Sep 2023 to Dec 2023	$0	—

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, the newest measured quarter, never from the firm's own description.

Style

Diversified active

Top 10 weight 50.3%, 27.0 effective positions, active share 65.1% against the S&P 500 as of 2026-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Low turnover

10.8% over the last four quarters (under 30%)

Horizon

Medium horizon

Value-weighted holding period 6.5 quarters (4 to under 12)

Closest benchmark: the S&P 500 as of 2026-06-30, active share 65.1%; sector active share 36.3% against the combined 13F book's sector weights.

Over time 7 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

83 tracked positions · as of Sep 30, 2026 · Δ vs Jun 30, 2026

Top Position

8.7%

−0.0 pts

Top 5

33.3%

+2.0 pts

Top 10

54.4%

+4.1 pts

HHI

404

Diversified+34

Portfolio Trend

8 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	43.2%	$63,849,529	39
Technology	26.9%	$39,728,060	12
Communication Services	7.1%	$10,556,270	4
Financial Services	5.9%	$8,654,060	11
Consumer Cyclical	5.3%	$7,821,028	4
Industrials	4.6%	$6,795,910	5
Consumer Defensive	2.1%	$3,074,218	1
Energy	1.9%	$2,779,066	3
Healthcare	1.7%	$2,484,764	2
Utilities	1.4%	$2,008,978	2

Last Quarter's Activity

Export CSV

Sep 30, 2026 vs Jun 30, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
VUG	VANGUARD GROWTH INDEX FUND	+41,963	70,970	$6,395,106
DWLD	Davis Select Worldwide ETF	+12,476	287,197	$12,820,474
VTV	VANGUARD VALUE INDEX FUND	+11,305	20,098	$4,342,775
CGHM	Capital Group Municipal High-Income ETF	+10,547	78,067	$1,879,072
—		+6,045	108,021	$0
UITB	VictoryShares Core Intermediate Bond ETF	+4,703	186,101	$8,308,293
KMI	Kinder Morgan, Inc.	+4,592	16,636	$501,575
USIG	iShares Broad USD Investment Grade Corporate Bond ETF	+3,867	112,237	$0
CRWD	CrowdStrike Holdings, Inc.	+3,618	4,532	$1,199,847
VEA	Vanguard FTSE Developed Markets ETF	+1,647	6,196	$437,499
KLAC	Kla Corp	+1,407	21,229	$4,138,168
EPD	Enterprise Products Partners L.P.	+1,365	11,565	$411,829
AAPL	Apple Inc.	+1,365	20,581	$6,853,884
WM	Waste Management Inc	+1,299	10,407	$2,122,195
AMZN	Amazon Com Inc	+1,215	20,967	$5,223,928
ICE	Intercontinental Exchange, Inc.	+977	10,607	$1,612,582
NEE	Nextera Energy Inc	+888	19,990	$1,514,042
JPM	Jpmorgan Chase & Co	+881	8,090	$2,676,414
BOND	PIMCO Active Bond Exchange-Traded Fund	+854	14,992	$1,304,154
AVGO	Broadcom Inc.	+786	16,251	$5,707,188
XLK	State Street(R) Technology Select Sector SPDR(R) ETF	+725	11,163	$2,185,157
CGGR	Capital Group Growth ETF	+710	68,752	$3,260,907
CASY	Caseys General Stores Inc	+662	2,492	$1,516,282
BND	VANGUARD TOTAL BOND MARKET INDEX FUND	+561	4,616	$323,812
AMAT	Applied Materials Inc /De	+465	1,582	$809,003
No positions match the current search.

Trimmed

Positions the filer reduced

18 positions

Ticker	Company	Δ Shares	Shares	Value
VO	VANGUARD MID-CAP INDEX FUND	−51,775	7,749	$607,676
GTO	Invesco Total Return Bond ETF	−17,286	82,399	$3,674,171
PSH	PGIM Short Duration High Yield ETF	−10,278	49,769	$2,422,257
—		−7,260	19,345	$0
CRM	Salesforce, Inc.	−889	2,011	$461,665
MRK	Merck & Co., Inc.	−879	13,067	$1,898,765
AMD	Advanced Micro Devices Inc	−349	7,081	$4,331,872
HD	Home Depot, Inc.	−327	2,786	$792,589
DHR	Danaher Corp /De/	−310	2,645	$585,999
XLF	State Street Corp	−291	15,827	$0
VOO	VANGUARD 500 INDEX FUND	−263	1,455	$1,019,751
MRSH	Marsh & Mclennan Companies, Inc.	−262	4,478	$764,528
KKR	KKR & Co. Inc.	−204	3,720	$339,636
LOW	Lowes Companies Inc	−185	1,564	$288,229
—		−85	5,654	$0
DE	Deere & Co	−52	2,900	$1,947,495
VGT	VANGUARD INFORMATION TECHNOLOGY INDEX FUND	−52	5,180	$650,970
ASML	Asml Holding NV	−15	241	$436,612
No positions match the current search.

New Positions

Positions the filer opened this quarter

20 positions

Ticker	Company	Shares	Value
FLMI	Franklin Dynamic Municipal Bond ETF	302,177	$7,046,767
SPLB	State Street(R) SPDR(R) Portfolio Long Term Corporate Bond ETF	208,327	$4,245,704
SPY	Spdr S&P 500 ETF Trust	394	$300,476
XLV	State Street(R) Health Care Select Sector SPDR(R) ETF	1,502	$252,966
NFLX	Netflix Inc	3,364	$234,067
VBK	VANGUARD SMALL-CAP GROWTH INDEX FUND	647	$218,576
VTI	VANGUARD TOTAL STOCK MARKET INDEX FUND	574	$214,813
SDY	State Street(R) SPDR(R) S&P(R) Dividend ETF	1,450	$212,396
ADBE	Adobe Inc.	877	$210,427
VOX	VANGUARD COMMUNICATION SERVICES INDEX FUND	1,076	$205,074
IGSB	iShares 1-5 Year Investment Grade Corporate Bond ETF	17,056	$0
SPMO	Invesco Ltd.	4,995	$0
IEMG	iShares Trust	15,976	$0
AGG	iShares Core U.S. Aggregate Bond ETF	11,930	$0
GRPM	Victory Portfolios II	28,781	$0
IJH	iShares Core S&P Mid-Cap ETF	11,547	$0
SHY	iShares 1-3 Year Treasury Bond ETF	8,694	$0
IJR	iShares Core S&P Small-Cap ETF	10,401	$0
IVV	iShares Core S&P 500 ETF	5,592	$0
IEFA	iShares Core MSCI EAFE ETF	18,451	$0
No positions match the current search.

Sold Out

Positions the filer fully exited

2 positions

Ticker	Company	Shares	Value
HYFI	AB High Yield ETF	49,134	$1,834,663
PHYL	PGIM Active High Yield Bond ETF	51,138	$1,783,693
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

83 tracked positions · $147,751,883 total · filing declares 84 positions · $178,423,841 · as of Sep 30, 2026

All sectors Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Technology Utilities

Showing 1–50 of 83 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
DWLD	Davis Select Worldwide ETF	Added	287,197	+12,476	$12,820,474	+0.9%	8.68%
UITB	VictoryShares Core Intermediate Bond ETF	Added	186,101	+4,703	$8,308,293	−2.2%	5.62%
NVDA	Nvidia Corp Technology	Added	36,179	+304	$8,262,560	+15.1%	5.59%
FLMI	Franklin Dynamic Municipal Bond ETF	NEW	302,177	NEW	$7,046,767	NEW	4.77%
AAPL	Apple Inc. Technology	Added	20,581	+1,365	$6,853,884	+23.3%	4.64%
MSFT	Microsoft Corp Technology	Added	12,569	+350	$6,446,640	+41.4%	4.36%
VUG	VANGUARD GROWTH INDEX FUND	Added	70,970	+41,963	$6,395,106	+155.9%	4.33%
GOOGL	Alphabet Inc. Communication Services	Added	17,772	+407	$6,114,989	−1.5%	4.14%
AVGO	Broadcom Inc. Technology	Added	16,251	+786	$5,707,188	−2.3%	3.86%
AMZN	Amazon Com Inc Consumer Cyclical	Added	20,967	+1,215	$5,223,928	+11.0%	3.54%
VTV	VANGUARD VALUE INDEX FUND	Added	20,098	+11,305	$4,342,775	+126.6%	2.94%
AMD	Advanced Micro Devices Inc Technology	Reduced	7,081	-349	$4,331,872	+0.4%	2.93%
SPLB	State Street(R) SPDR(R) Portfolio Long Term Corporate Bond ETF	NEW	208,327	NEW	$4,245,704	NEW	2.87%
KLAC	Kla Corp Technology	Added	21,229	+1,407	$4,138,168	−30.8%	2.80%
GTO	Invesco Total Return Bond ETF	Reduced	82,399	-17,286	$3,674,171	−21.4%	2.49%
META	Meta Platforms, Inc. Communication Services	Added	4,704	+273	$3,411,246	+36.7%	2.31%
CGGR	Capital Group Growth ETF	Added	68,752	+710	$3,260,907	+1.5%	2.21%
COST	Costco Wholesale Corp /New Consumer Defensive	Added	3,377	+13	$3,074,218	−2.3%	2.08%
JPM	Jpmorgan Chase & Co Financial Services	Added	8,090	+881	$2,676,414	+13.4%	1.81%
PSH	PGIM Short Duration High Yield ETF	Reduced	49,769	-10,278	$2,422,257	−19.1%	1.64%
XLK	State Street(R) Technology Select Sector SPDR(R) ETF	Added	11,163	+725	$2,185,157	+9.9%	1.48%
WM	Waste Management Inc Industrials	Added	10,407	+1,299	$2,122,195	+4.5%	1.44%
DE	Deere & Co Industrials	Reduced	2,900	-52	$1,947,495	+4.0%	1.32%
MRK	Merck & Co., Inc. Healthcare	Reduced	13,067	-879	$1,898,765	+6.0%	1.29%
CGHM	Capital Group Municipal High-Income ETF	Added	78,067	+10,547	$1,879,072	+7.7%	1.27%
CVX	Chevron Corp Energy	Added	9,136	+343	$1,865,662	+28.0%	1.26%
ICE	Intercontinental Exchange, Inc. Financial Services	Added	10,607	+977	$1,612,582	+36.0%	1.09%
CASY	Caseys General Stores Inc Consumer Cyclical	Added	2,492	+662	$1,516,282	+4.3%	1.03%
NEE	Nextera Energy Inc Utilities	Added	19,990	+888	$1,514,042	−9.7%	1.02%
RTX	RTX Corp Industrials	Added	8,016	+186	$1,488,170	+0.2%	1.01%
BX	Blackstone Inc. Financial Services	Added	11,793	+395	$1,321,877	−1.4%	0.89%
BOND	PIMCO Active Bond Exchange-Traded Fund	Added	14,992	+854	$1,304,154	+0.0%	0.88%
CRWD	CrowdStrike Holdings, Inc. Technology	Added	4,532	+3,618	$1,199,847	+72.0%	0.81%
ARES	Ares Management Corp Financial Services	Added	10,314	+429	$1,198,177	+8.9%	0.81%
VOO	VANGUARD 500 INDEX FUND	Reduced	1,455	-263	$1,019,751	−13.6%	0.69%
MU	Micron Technology Inc Technology	Added	817	+7	$870,194	−6.9%	0.59%
AMAT	Applied Materials Inc /De Technology	Added	1,582	+465	$809,003	+0.2%	0.55%
GOOG	Alphabet Inc. Communication Services	Added	2,336	+203	$795,968	+5.6%	0.54%
HD	Home Depot, Inc. Consumer Cyclical	Reduced	2,786	-327	$792,589	−27.8%	0.54%
MRSH	Marsh & Mclennan Companies, Inc. Financial Services	Reduced	4,478	-262	$764,528	−3.2%	0.52%
XLY	State Street(R) Consumer Discretionary Select Sector SPDR(R) ETF	Added	6,276	+111	$683,079	−5.5%	0.46%
VGT	VANGUARD INFORMATION TECHNOLOGY INDEX FUND	Reduced	5,180	-52	$650,970	+4.1%	0.44%
UNP	Union Pacific Corp Industrials	Added	2,303	+69	$626,715	+3.1%	0.42%
CAT	Caterpillar Inc Industrials	Added	754	+113	$611,335	−10.4%	0.41%
VO	VANGUARD MID-CAP INDEX FUND	Reduced	7,749	-51,775	$607,676	−87.3%	0.41%
DHR	Danaher Corp /De/ Healthcare	Reduced	2,645	-310	$585,999	+4.1%	0.40%
XLI	State Street(R) Industrial Select Sector SPDR(R) ETF	Added	3,493	+42	$583,261	−8.8%	0.39%
KMI	Kinder Morgan, Inc. Energy	Added	16,636	+4,592	$501,575	+30.3%	0.34%
SO	Southern Co Utilities	Added	5,971	+445	$494,936	−6.4%	0.33%
CRM	Salesforce, Inc. Technology	Reduced	2,011	-889	$461,665	+1.6%	0.31%

Showing the top 50 of 83 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.