If you select a product bundle that includes X products, the association between each product and the bundle is stored in the "Parent Bundle" field that only contains the GUID of the bundle.

There is a "Parent Bundle Product" field which is a lookup but it is empty.

It would need to function properly and store the parent bundle in order to be able to configure views, advanced finds and other reporting by bundle or report product sales by bundle or outside a bundle via this lookup field.