CIK: 0001907054
Total reported value
$279.3M
Reporting period: 2026-03-31 · Number of holdings: 185
NCM Capital Management, LLC disclosed 185 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $279.3M and a quarterly turnover rate of 12.6%.
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NCM Capital Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.021 — mathematically equivalent to about 48 equally-sized positions, well below its 185 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.70), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 47% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Add TPL
-1.9% $5.4M
Trim NVDA
-1.8% -$2.0M
Trim MSFT
+3.2% -$1.7M
Add INFL
+6.0% $1.4M
Trim JPM
-0.9% -$663.9K
Trim VUG
+2.7% -$566.9K
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 8.10% | -1.04% | -1.76% | |
| 2 | TPL | Texas Pacific Land CORP | Stock-Energy | 5.04% | +1.82% | -1.95% | |
| 3 | DIVO | Amplify Cwp Enhan Divid ETF | ETF-Other | 4.43% | — | -0.13% | |
| 4 | AVUV | Avantis US Small Cap Value | ETF-Small Cap | 2.94% | +0.12% | -0.32% | |
| 5 | JEPI | Jpmorgan Equity Premium Inco | ETF-Other | 2.93% | — | +0.60% | |
| 6 | TCAF | T Rowe Prc Cap Appreciation | ETF-Other | 2.89% | -0.27% | +1.73% | |
| 7 | SCHD | Schwab US Dvd Equity ETF | ETF-Other | 2.88% | +0.21% | -0.13% | |
| 8 | INFL | Horizon Kinetics Infl Benef | ETF-Other | 2.49% | +0.41% | +6.03% | |
| 9 | AAPL | Apple INC | Stock-Tech | 2.47% | -0.26% | +0.52% | |
| 10 | VUG | Vanguard Growth ETF | ETF-Other | 2.33% | -0.29% | +2.74% | |
| 11 | JPM | Jpmorgan Chase & Co | Stock-Financials | 2.26% | -0.33% | -0.87% | |
| 12 | MSFT | Microsoft CORP | Stock-Tech | 2.26% | -0.70% | +3.24% | |
| 13 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.91% | -0.21% | +1.87% | |
| 14 | VIGI | Vanguard Int Div App Indx Fd | ETF-Other | 1.73% | — | +0.32% | |
| 15 | GDX | Vaneck Gold Miners ETF | ETF-Commodities | 1.38% | +0.03% | -0.49% | |
| 16 | ACIO | Aptus Collared Invest Opp | ETF-Other | 1.30% | +0.09% | +16.02% | |
| 17 | JMST | JPM Ultra-short Muni Income | ETF-Other | 1.29% | +0.03% | +5.99% | |
| 18 | XAR | Ss Spdr S&p Aerospace Def | ETF-Other | 1.04% | +0.03% | +2.08% | |
| 19 | XOM | Exxon Mobil CORP | Stock-Energy | 0.98% | +0.20% | -7.30% | |
| 20 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.96% | -0.28% | -5.61% | |
| 21 | TCAL | T Rowe Pre Cpt Apr Pr In ETF | ETF-Other | 0.94% | +0.06% | +16.68% | |
| 22 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 0.90% | — | -0.06% | |
| 23 | MMM | 3m Co | Stock-Industrials | 0.85% | — | +6.83% | |
| 24 | COWZ | Pacer US Cash Cows 100 ETF | ETF-Other | 0.84% | — | -1.17% | |
| 25 | GEV | GE Vernova INC | Stock-Industrials | 0.79% | +0.24% | +12.04% | |
| 26 | VHT | Vanguard Health Care ETF | ETF-Other | 0.78% | — | -0.61% | |
| 27 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.75% | +0.05% | -3.40% | |
| 28 | NEE | Nextera Energy INC | Stock-Utilities | 0.70% | +0.08% | +0.03% | |
| 29 | XLU | St Sr Utl Sl Se Spdr Etf-usd | ETF-Other | 0.70% | — | -1.12% | |
| 30 | HD | Home Depot INC | Stock-Consumer Disc | 0.69% | — | — | |
| 31 | IYW | Ishares Ustechnology ETF | ETF-Tech | 0.68% | -0.10% | -0.48% | |
| 32 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 0.67% | — | +0.10% | |
| 33 | DVY | Ishares Select Dividend ETF | ETF-Other | 0.66% | — | -3.84% | |
| 34 | HDV | Ishares Core High Dividend E | ETF-Other | 0.65% | +0.05% | -0.16% | |
| 35 | GLW | Corning INC | Stock-Tech | 0.64% | +0.19% | -5.36% | |
| 36 | ETN | Eaton Corporation plc | Stock-Industrials | 0.63% | — | -1.39% | |
| 37 | VLUE | Ishares Msci USA Value Facto | ETF-Other | 0.63% | — | +0.02% | |
| 38 | GQGU | Gqg US Equity ETF | ETF-Other | 0.62% | +0.62% | NEW | |
| 39 | VZ | Verizon Communications INC | Stock-Comm Services | 0.60% | +0.10% | -0.18% | |
| 40 | AMZN | Amazon.com INC | Stock-Consumer Disc | 0.59% | -0.09% | -0.43% | |
| 41 | ABBV | Abbvie INC | Stock-Healthcare | 0.59% | — | — | |
| 42 | AMD | Advanced Micro Devices | Stock-Tech | 0.56% | — | — | |
| 43 | IEFA | Ishares Core Msci Eafe ETF | ETF-Other | 0.56% | — | — | |
| 44 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 0.55% | — | -2.72% | |
| 45 | CVX | Chevron CORP | Stock-Energy | 0.55% | +0.13% | -0.96% | |
| 46 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.55% | — | — | |
| 47 | IBM | Intl Business Machines CORP | Stock-Tech | 0.53% | -0.12% | +3.38% | |
| 48 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.53% | +0.07% | +0.05% | |
| 49 | XLK | Ss Technology Select Sector | ETF-Tech | 0.52% | — | — | |
| 50 | CAT | Caterpillar INC | Stock-Industrials | 0.52% | +0.09% | — |
Performance for Q3 2026
+3.7%
Performance Last 4 Quarters
+24.8%
Based on 74% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 185 | $279.3M | 13 | |
| 2025-12-31 | 175 | $269.6M | 10 | |
| 2025-09-30 | 183 | $257.8M | 22 | |
| 2025-06-30 | 177 | $243.6M | 0 | |
| 2025-03-31 | 171 | $222.4M | 0 | |
| 2024-12-31 | 170 | $221.9M | 0 | |
| 2024-09-30 | 165 | $208.4M | 0 | |
| 2024-06-30 | 160 | $190.7M | 0 | |
| 2024-03-31 | 159 | $178.5M | 0 | |
| 2023-12-31 | 159 | $164.9M | 0 | |
| 2023-09-30 | 146 | $140.5M | 0 | |
| 2023-06-30 | 152 | $143.9M | 0 | |
| 2023-03-31 | 149 | $133.8M | 0 | |
| 2022-12-31 | 172 | $151.6M | 0 | |
| 2022-09-30 | 162 | $132.2M | 0 | |
| 2022-06-30 | 173 | $142.7M | 0 | |
| 2022-03-31 | 186 | $159.0M | 0 | |
| 2021-12-31 | 143 | $112.8M | 0 |
NCM Capital Management, LLC's most significant position changes for 2026-03-31: New buy: Gqg US Equity ETF (GQGU); New buy: Jpmorgan Municipal ETF (JMUB); New buy: Bny Mellon Dynamic Value (BKDV); New buy: Waterbridge Infrastruc-cl A (WBI); New buy: Huntington Ingalls Industrie (HII).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | TPL | Texas Pacific Land CORP | +1.8% | -1.95% | Trim |
| 2 | INFL | Horizon Kinetics Infl Benef | +0.4% | +6.03% | Add |
| 3 | GEV | GE Vernova INC | +0.2% | +12.04% | Add |
| 4 | SCHD | Schwab US Dvd Equity ETF | +0.2% | -0.13% | Trim |
| 5 | XOM | Exxon Mobil CORP | +0.2% | -7.30% | Trim |
| 6 | GLW | Corning INC | +0.2% | -5.36% | Trim |
| 7 | JPIE | Jpmorgan Income ETF | +0.2% | +65.67% | Add |
| 8 | CVX | Chevron CORP | +0.1% | -0.96% | Trim |
| 9 | AVUV | Avantis US Small Cap Value | +0.1% | -0.32% | Trim |
| 10 | T86 | Tri Pointe Homes INC | +0.1% | — | Unchanged |
| 11 | VZ | Verizon Communications INC | +0.1% | -0.18% | Trim |
| 12 | JIVE | JPM Interntl Value ETF | +0.1% | +53.07% | Add |
| 13 | ACIO | Aptus Collared Invest Opp | +0.1% | +16.02% | Add |
| 14 | CAT | Caterpillar INC | +0.1% | — | Unchanged |
| 15 | NEE | Nextera Energy INC | +0.1% | +0.03% | Add |
| 16 | JNJ | Johnson & Johnson | +0.1% | +0.05% | Add |
| 17 | LB | Landbridge Co Llc-a | +0.1% | +29.59% | Add |
| 18 | TCAL | T Rowe Pre Cpt Apr Pr In ETF | +0.1% | +16.68% | Add |
| 19 | INTC | Intel CORP | +0.1% | -1.48% | Trim |
| 20 | LMT | Lockheed Martin CORP | +0.1% | -0.42% | Trim |
| 21 | KMB | Kimberly-clark CORP | +0.1% | +47.03% | Add |
| 22 | MRK | Merck & Co. INC. | +0.1% | -3.40% | Trim |
| 23 | HDV | Ishares Core High Dividend E | +0.1% | -0.16% | Trim |
| 24 | GDX | Vaneck Gold Miners ETF | 0% | -0.49% | Trim |
| 25 | JMST | JPM Ultra-short Muni Income | 0% | +5.99% | Add |
| 26 | XAR | Ss Spdr S&p Aerospace Def | 0% | +2.08% | Add |
| 27 | ACN | Accenture plc | -0.1% | -23.99% | Trim |
| 28 | AMZN | Amazon.com INC | -0.1% | -0.43% | Trim |
| 29 | BAC | Bank Of America CORP | -0.1% | -2.98% | Trim |
| 30 | IYW | Ishares Ustechnology ETF | -0.1% | -0.48% | Trim |
| 31 | IBM | Intl Business Machines CORP | -0.1% | +3.38% | Add |
| 32 | QCOM | Qualcomm INC | -0.2% | -0.43% | Trim |
| 33 | GOOGL | Alphabet Inc-cl A | -0.2% | +1.87% | Add |
| 34 | AAPL | Apple INC | -0.3% | +0.52% | Add |
| 35 | TCAF | T Rowe Prc Cap Appreciation | -0.3% | +1.73% | Add |
| 36 | LLY | Eli Lilly & Co | -0.3% | -5.61% | Trim |
| 37 | VUG | Vanguard Growth ETF | -0.3% | +2.74% | Add |
| 38 | JPM | Jpmorgan Chase & Co | -0.3% | -0.87% | Trim |
| 39 | MSFT | Microsoft CORP | -0.7% | +3.24% | Add |
| 40 | NVDA | Nvidia CORP | -1% | -1.76% | Trim |
| 41 | GQGU | Gqg US Equity ETF | — | NEW | New buy |
| 42 | JMUB | Jpmorgan Municipal ETF | — | NEW | New buy |
| 43 | BKDV | Bny Mellon Dynamic Value | — | NEW | New buy |
| 44 | WBI | Waterbridge Infrastruc-cl A | — | NEW | New buy |
| 45 | HII | Huntington Ingalls Industrie | — | NEW | New buy |
| 46 | GD | General Dynamics CORP | — | NEW | New buy |
| 47 | IEI | Ishares 3-7 Year Treasury Bo | — | NEW | New buy |
| 48 | FDX | Fedex CORP | — | NEW | New buy |
| 49 | TGT | Target CORP | — | NEW | New buy |
| 50 | V | Visa Inc-class A Shares | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-03-02 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-14 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-18 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-15 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-15 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-17 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-12 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-15 | 13F-HR | View on EDGAR |
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