CIK: 0001696731
Total reported value
$405.7M
Reporting period: 2026-03-31 · Number of holdings: 59
New Capital Management LP disclosed 59 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $405.7M and a quarterly turnover rate of 11.1%.
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New Capital Management LP's disclosed holdings carry a Herfindahl concentration index of 0.124 — mathematically equivalent to about 8 equally-sized positions, well below its 59 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 2.54), 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 26% 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.
Trim DFAC
-3.9% -$6.0M
Trim BRK-B
-0.4% -$2.7M
Add IAU
+1262.7% $3.6M
Add DFAX
+1.5% $4.1M
Add IAGG
+57.4% $2.8M
Trim AAPL
-0.9% -$1.6M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | DFAC | Dimensional US Core Equity 2 | ETF-Other | 24.50% | -1.96% | -3.88% | |
| 2 | DFAX | Dimensional World Ex US Core | ETF-Other | 20.00% | +0.66% | +1.52% | |
| 3 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 12.66% | -0.93% | -0.41% | |
| 4 | AAPL | Apple INC | Stock-Tech | 4.84% | -0.49% | -0.92% | |
| 5 | EBI | Longview Advantage ETF | ETF-Other | 3.04% | +0.01% | — | |
| 6 | BINC | Ishares Flex I A Etf-usd INC | ETF-Other | 2.76% | +0.07% | +6.03% | |
| 7 | DFSU | Dimensional US Sus Core1 ETF | ETF-Other | 2.51% | -0.40% | -7.07% | |
| 8 | IUSB | Ishr Cr Unvrse Usd Bd Etf-ui | ETF-Other | 2.21% | +0.04% | +4.60% | |
| 9 | PEP | Pepsico INC | Stock-Consumer Staples | 2.02% | +0.11% | -0.49% | |
| 10 | DFSI | Dimensional Int Sus Cor1 ETF | ETF-Other | 1.88% | -0.08% | -0.99% | |
| 11 | IAGG | Ishares Intl Aggregate Bond | ETF-Other | 1.88% | +0.66% | +57.45% | |
| 12 | STIP | Ishares 0-5 Year Tips Bond E | ETF-Other | 1.31% | -0.30% | -17.62% | |
| 13 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.27% | -0.07% | +5.38% | |
| 14 | TFLO | Ishares Treasury Floating Ra | ETF-Gov Bonds | 1.26% | -0.03% | -0.87% | |
| 15 | DFGR | Dim Global Real Estate ETF | ETF-Other | 1.25% | +0.26% | +28.34% | |
| 16 | NVDA | Nvidia CORP | Stock-Tech | 1.22% | -0.11% | +0.54% | |
| 17 | IBIT | Ishares Bitcoin Trust ETF | ETF-Crypto | 1.15% | -0.07% | +24.55% | |
| 18 | JBND | Jpmorgan Active Bond ETF | ETF-Other | 1.08% | -0.22% | -15.31% | |
| 19 | VGMS | Vanguard Multi-sector | ETF-Other | 1.06% | -0.25% | -16.26% | |
| 20 | JPIB | Jpmorgan Intl Bnd ETF | ETF-Other | 0.99% | +0.99% | NEW | |
| 21 | IAU | Ishares Gold Trust | ETF-Commodities | 0.96% | +0.89% | +1262.74% | |
| 22 | CEMB | Ishares Jp Morgan Em Corpora | ETF-Other | 0.94% | +0.30% | +50.54% | |
| 23 | GHYG | Ishares Us&intl High Yield C | ETF-High Yield | 0.93% | +0.29% | +52.14% | |
| 24 | ISHG | Ishares -3 Year Internationa | ETF-Other | 0.92% | +0.29% | +49.89% | |
| 25 | LEMB | Ishares Jp Morgan Em Local C | ETF-Other | 0.90% | +0.24% | +41.62% | |
| 26 | MSFT | Microsoft CORP | Stock-Tech | 0.76% | -0.15% | +11.90% | |
| 27 | DFSE | Dimensional Em Sus Core1 ETF | ETF-Other | 0.71% | -0.06% | -8.12% | |
| 28 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | ETF-Corp Bonds | 0.69% | +0.69% | NEW | |
| 29 | VT | Vanguard Tot World Stk ETF | ETF-Other | 0.36% | -0.01% | +0.69% | |
| 30 | YUM | Yum! Brands INC | Stock-Consumer Disc | 0.33% | — | — | |
| 31 | KIM | Kimco Realty CORP | Stock-Real Estate | 0.24% | +0.02% | — | |
| 32 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.24% | -0.01% | +11.75% | |
| 33 | MA | Mastercard INC - A | Stock-Financials | 0.23% | -0.05% | -4.04% | |
| 34 | AMZN | Amazon.com INC | Stock-Consumer Disc | 0.23% | -0.03% | -2.19% | |
| 35 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.22% | — | +8.90% | |
| 36 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.21% | +0.02% | — | |
| 37 | NFLX | Netflix INC | Stock-Comm Services | 0.17% | — | — | |
| 38 | ABBV | Abbvie INC | Stock-Healthcare | 0.17% | -0.02% | +0.34% | |
| 39 | ACWI | Ishares Msci Acwi ETF | ETF-Other | 0.16% | — | — | |
| 40 | XOM | Exxon Mobil CORP | Stock-Energy | 0.14% | +0.04% | +2.01% | |
| 41 | AOR | Ishares Core 60/40 Balanced | ETF-Other | 0.14% | — | +0.11% | |
| 42 | AVGO | Broadcom INC | Stock-Tech | 0.13% | -0.03% | -3.22% | |
| 43 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.13% | -0.01% | — | |
| 44 | YUMC | Yum China Holdings INC | Stock-Consumer Disc | 0.11% | — | — | |
| 45 | VUSB | Vanguard Ultra Short Bond Et | ETF-Other | 0.10% | — | -2.32% | |
| 46 | ICSH | Ishares Ultra Short Duration | ETF-Other | 0.10% | — | -2.36% | |
| 47 | MELI | Mercadolibre INC | Stock-Consumer Disc | 0.09% | -0.01% | — | |
| 48 | WBD | Warner Bros Discovery INC | Stock-Comm Services | 0.09% | — | — | |
| 49 | SGOV | Ishares 0-3 Month Treasury B | ETF-Gov Bonds | 0.08% | — | -1.61% | |
| 50 | AOA | Ishares Core 80/20 Aggressiv | ETF-Other | 0.08% | — | -1.43% |
Performance for Q3 2026
—
Performance Last 4 Quarters
—
Based on 0 months of available history
Based on 37% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 59 | $405.7M | 11 | |
| 2025-12-31 | 55 | $398.1M | 12 | |
| 2025-09-30 | 54 | $381.7M | 26 | |
| 2025-06-30 | 56 | $358.3M | 0 | |
| 2025-03-31 | 50 | $348.5M | 100 | |
| 2024-12-31 | 51 | $342.0M | 0 | |
| 2024-09-30 | 52 | $354.3M | 0 | |
| 2024-06-30 | 54 | $325.9M | 0 | |
| 2024-03-31 | 57 | $334.9M | 0 | |
| 2023-12-31 | 51 | $316.1M | 0 | |
| 2023-09-30 | 57 | $288.3M | 0 | |
| 2023-03-31 | 58 | $261.8M | 0 | |
| 2022-12-31 | 48 | $232.5M | 0 | |
| 2022-09-30 | 43 | $182.2M | 0 | |
| 2022-06-30 | 43 | $181.6M | 0 | |
| 2022-03-31 | 48 | $138.9M | 0 | |
| 2021-12-31 | 42 | $192.5M | 0 | |
| 2021-09-30 | 42 | $181.8M | 0 | |
| 2021-03-31 | 127 | $112.2M | 61 | |
| 2020-12-31 | 153 | $194.3M | 73 | |
| 2020-09-30 | 124 | $90.9M | 32 | |
| 2020-06-30 | 126 | $73.7M | 37 | |
| 2020-03-31 | 109 | $52.8M | 27 | |
| 2019-12-31 | 134 | $60.4M | 68 | |
| 2019-09-30 | 136 | $119.6M | 72 | |
| 2019-06-30 | 134 | $57.1M | 49 | |
| 2019-03-31 | 138 | $35.5M | 50 | |
| 2018-12-31 | 128 | $54.7M | 14 | |
| 2018-09-30 | 147 | $61.4M | 11 | |
| 2018-06-30 | 142 | $56.0M | 48 | |
| 2018-03-31 | 152 | $38.5M | 77 | |
| 2017-12-31 | 160 | $82.1M | 58 | |
| 2017-09-30 | 163 | $56.1M | 32 | |
| 2017-06-30 | 166 | $54.6M | 1 | |
| 2017-03-31 | 167 | $54.6M | 31 | |
| 2016-12-31 | 160 | $69.0M | — |
New Capital Management LP's most significant position changes for 2026-03-31: New buy: Jpmorgan Intl Bnd ETF (JPIB); New buy: Ishr Ibx Usd Invgd Cb Etf-ui (LQD); Sold out: Jpmorgan Ultra-short Income (JPST); New buy: Home Depot INC (HD); New buy: Bristow Group INC (VTOL).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | IAU | Ishares Gold Trust | +0.9% | +1262.74% | Add |
| 2 | DFAX | Dimensional World Ex US Core | +0.7% | +1.52% | Add |
| 3 | IAGG | Ishares Intl Aggregate Bond | +0.7% | +57.45% | Add |
| 4 | CEMB | Ishares Jp Morgan Em Corpora | +0.3% | +50.54% | Add |
| 5 | GHYG | Ishares Us&intl High Yield C | +0.3% | +52.14% | Add |
| 6 | ISHG | Ishares -3 Year Internationa | +0.3% | +49.89% | Add |
| 7 | DFGR | Dim Global Real Estate ETF | +0.3% | +28.34% | Add |
| 8 | LEMB | Ishares Jp Morgan Em Local C | +0.2% | +41.62% | Add |
| 9 | PEP | Pepsico INC | +0.1% | -0.49% | Trim |
| 10 | BINC | Ishares Flex I A Etf-usd INC | +0.1% | +6.03% | Add |
| 11 | IUSB | Ishr Cr Unvrse Usd Bd Etf-ui | 0% | +4.60% | Add |
| 12 | XOM | Exxon Mobil CORP | 0% | +2.01% | Add |
| 13 | COST | Costco Wholesale CORP | 0% | — | Unchanged |
| 14 | KIM | Kimco Realty CORP | 0% | — | Unchanged |
| 15 | EBI | Longview Advantage ETF | 0% | — | Unchanged |
| 16 | YUM | Yum! Brands INC | — | — | Unchanged |
| 17 | AON | Aon plc | — | — | Unchanged |
| 18 | NFLX | Netflix INC | — | — | Unchanged |
| 19 | WBD | Warner Bros Discovery INC | — | — | Unchanged |
| 20 | ACWI | Ishares Msci Acwi ETF | — | — | Unchanged |
| 21 | MELI | Mercadolibre INC | 0% | — | Unchanged |
| 22 | META | Meta Platforms Inc-class A | 0% | +11.75% | Add |
| 23 | SPY | Ss Spdr S&p 500 ETF Trust-us | 0% | — | Unchanged |
| 24 | VT | Vanguard Tot World Stk ETF | 0% | +0.69% | Add |
| 25 | LLY | Eli Lilly & Co | 0% | — | Unchanged |
| 26 | ABBV | Abbvie INC | 0% | +0.34% | Add |
| 27 | AMZN | Amazon.com INC | 0% | -2.19% | Trim |
| 28 | AVGO | Broadcom INC | 0% | -3.22% | Trim |
| 29 | TFLO | Ishares Treasury Floating Ra | 0% | -0.87% | Trim |
| 30 | MA | Mastercard INC - A | -0.1% | -4.04% | Trim |
| 31 | DFSE | Dimensional Em Sus Core1 ETF | -0.1% | -8.12% | Trim |
| 32 | GOOG | Alphabet Inc-cl C | -0.1% | +5.38% | Add |
| 33 | IBIT | Ishares Bitcoin Trust ETF | -0.1% | +24.55% | Add |
| 34 | DFSI | Dimensional Int Sus Cor1 ETF | -0.1% | -0.99% | Trim |
| 35 | NVDA | Nvidia CORP | -0.1% | +0.54% | Add |
| 36 | MSFT | Microsoft CORP | -0.2% | +11.90% | Add |
| 37 | JBND | Jpmorgan Active Bond ETF | -0.2% | -15.31% | Trim |
| 38 | VGMS | Vanguard Multi-sector | -0.3% | -16.26% | Trim |
| 39 | STIP | Ishares 0-5 Year Tips Bond E | -0.3% | -17.62% | Trim |
| 40 | JMST | JPM Ultra-short Muni Income | -0.4% | -85.63% | Trim |
| 41 | DFSU | Dimensional US Sus Core1 ETF | -0.4% | -7.07% | Trim |
| 42 | AAPL | Apple INC | -0.5% | -0.92% | Trim |
| 43 | BRK-B | Berkshire Hathaway Inc-cl B | -0.9% | -0.41% | Trim |
| 44 | DFAC | Dimensional US Core Equity 2 | -2% | -3.88% | Trim |
| 45 | JPIB | Jpmorgan Intl Bnd ETF | — | NEW | New buy |
| 46 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | — | NEW | New buy |
| 47 | JPST | Jpmorgan Ultra-short Income | — | EXIT | Sold out |
| 48 | HD | Home Depot INC | — | NEW | New buy |
| 49 | VTOL | Bristow Group INC | — | NEW | New buy |
| 50 | CMI | Cummins INC | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-04-14 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-01-20 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-08 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-07 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-04-29 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-13 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-07 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-11 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-04-09 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-01-19 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-12 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-04-06 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-01-11 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-10-11 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-07-08 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-04-08 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-01-28 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-10-07 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-04-15 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-01-21 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-10-09 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-07-08 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-04-17 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-01-10 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-10-09 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-07-11 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-04-19 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-01-18 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-10-05 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-07-09 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-04-12 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-01-19 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-10-23 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-07-18 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-17 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-09 | 13F-HR | View on EDGAR |
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