SEC 13F Intelligence

Managers / Q3 2020 · view latest →

NBW CAPITAL LLC

CIK 0001512901 · 211 CONGRESS STREET SUITE 901, BOSTON, MA, 02110 · 617-482-2222

Reported Value
$300M
Q3 2020
Positions
72
Filings on Record
27
2019–present window
Filed
Nov 5, 2020
original filing

Summary

Nbw Capital LLC reported $300M in U.S.-listed holdings across 72 positions for Q3 2020.

Its largest position, AAPL, represents 4.6% of the portfolio.

Compared with Q2 2020, the fund opened 3 new positions and exited 1.

Portfolio Metrics

Turnover
+5.5%
vs prior filed quarter
Top-10 Concentration
+32.8%
share of reported value
Largest Position
+4.6%
Apple
New / Exited
3 / 1
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $282MQ4 ’18Q1 ’19: $365MQ2 ’19: $363MQ3 ’19: $337MQ4 ’19: $352MQ4 ’19Q1 ’20: $210MQ2 ’20: $279MQ3 ’20: $300MQ4 ’20: $329MQ4 ’20Q1 ’21: $363MQ2 ’21: $411MQ3 ’21: $415MQ4 ’21: $449MQ4 ’21Q1 ’22: $421MQ2 ’22: $365MQ3 ’22: $373MQ4 ’22: $391MQ4 ’22Q1 ’23: $412MQ2 ’23: $429MQ3 ’23: $408MQ4 ’23: $457MQ4 ’23Q2 ’24: $507MQ3 ’24: $530MQ4 ’24: $540MQ1 ’25: $451MQ1 ’25Q2 ’25: $464Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 78.5%ETP: 8.7%MLP: 6.0%Other: 3.6%REIT: 2.7%Other: 0.5%
  • Common Stock · 78.5% · $235M
  • ETP · 8.7% · $26M
  • MLP · 6.0% · $18M
  • Other · 3.6% · $11M
  • REIT · 2.7% · $8M
  • Other · 0.5% · $1M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
GQ9SPDR Gold TrustNEW+17.0K17.0K+$3M$3M
MAMastercard Inc-ANEW+4.2K4.2K+$1M$1M
VVisa Inc-Class A sharesNEW+6.8K6.8K+$1M$1M
AAPLApple, Inc.ADDED+88.1K118.6K+$3M$14M
NBLXUSDNoble Midstream Partners, LPADDED+156.6K290.9K+$993,000$2M
TSCUSDTristate Capital Holdings, IncADDED+65.4K129.3K+$708,000$2M
PACWUSDPacWest BancorpSOLD OUT−68.1K0−$1M$0
WESWestern Midstream PartnersADDED+117.8K274.9K+$622,000$2M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2020

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLApple, Inc.history →COM4.58%$14M118.6K
2MSFTMicrosoft Corporationhistory →COM4.29%$13M61.1K
3DHRDanaher Corporationhistory →COM4.24%$13M59.1K
4SPDR S & P 500 ETF TrustTR UNIT3.24%$10M29.0K
5ROPRoper Technologies, Inc.history →COM3.07%$9M23.3K
6LMTLockheed Martin Corporationhistory →COM2.92%$9M22.8K
7ITWIllinois Tool Works, Inc.history →COM2.73%$8M42.3K
8GOOGLAlphabet, Inc. Class Ahistory →COM2.59%$8M5.3K
9PLMRPalomar Holdings Inc.history →COM2.56%$8M73.7K
10TYLTyler Technologies, Inc.history →COM2.56%$8M22.0K
11Biotech ETF (SPDR S & P)TR UNIT2.51%$8M67.6K
12HASIHannon Armstrong Sustainable Ihistory →COM2.32%$7M164.6K
13UBS ETracs Alerian MLP / MLPBTR UNIT1.93%$6M619.8K
14AMTAmerican Tower Corporation (REhistory →COM1.93%$6M23.9K
15DSGThe Descartes Systems Group, Ihistory →COM1.89%$6M99.5K
16Steris PLCCOM1.88%$6M32.0K
17LNGCheniere Energy Inchistory →LTD1.83%$5M118.4K
18SPLKCHFSplunk, Inc.history →COM1.81%$5M28.8K
19WMBWilliams Companies, Inc.history →LTD1.80%$5M274.4K
20MASMasco Corporationhistory →COM1.71%$5M92.7K
21MRSHMarsh & McLennan Companies, Inhistory →COM1.64%$5M42.9K
22NKENike, Inc. Class Bhistory →COM1.64%$5M39.1K
23ONEWOneWater Marine Inc.history →COM1.60%$5M234.1K
24HESMHess Midstream LP Class Ahistory →LTD1.56%$5M308.8K
25NEONeoGenomics, Inc.history →COM1.53%$5M124.3K
26FOXFFox Factory Holding Corp.history →COM1.50%$5M60.6K
272JEFocus Financial Partners Inchistory →COM1.48%$4M135.4K
28BSXBoston Scientific Corporationhistory →COM1.45%$4M114.0K
29MCDMcDonald's Corporationhistory →COM1.45%$4M19.8K
30MBUUMalibu Boats, Inc.history →COM1.45%$4M87.5K
31BJBJ's Wholesale Clubhistory →COM1.44%$4M104.0K
32RGENRepligen Corporationhistory →COM1.43%$4M29.1K
33ADIAnalog Devices, Inc.history →COM1.42%$4M36.4K
34FTVFortive Corporationhistory →COM1.41%$4M55.5K
35WMWaste Management Inc.history →COM1.37%$4M36.3K
36PATKPatrick Industries, Inc.history →COM1.37%$4M71.4K
37SIVBEURSVB Financial Grouphistory →COM1.30%$4M16.2K
38AMAntero Midstream Corphistory →LTD1.09%$3M608.6K
39HQYHealthEquity, Inc.history →COM1.04%$3M60.8K
40GQ9SPDR Gold Trusthistory →TR UNIT1.00%$3M17.0K
41ATVIEURActivision Blizzard, Inc.history →COM1.00%$3M37.2K
42EAElectronic Arts, Inc.COM0.95%$3M21.9K
43BP Midstream Partners, LPLTD0.93%$3M282.3K
442655787DBlueprint Medicines CorporatioCOM0.86%$3M27.9K
45UNHUnitedHealth Group, Inc.COM0.85%$3M8.2K
46KMIKinder Morgan, Inc.LTD0.79%$2M193.0K
47CEQPUSDCrestwood Equity Partners, LPLTD0.79%$2M191.0K
48Innovative Industrial PropertiCOM0.77%$2M18.5K
49ETEnergy Transfer, LPLTD0.76%$2M417.9K
50MPLXMPLX, LPLTD0.75%$2M143.3K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q2 2025$464M111Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$451M100May 12, 202513F-HRchanges · EDGAR ↗
Q4 2024$540M88Feb 6, 202513F-HRchanges · EDGAR ↗
Q3 2024$530M106Nov 4, 202413F-HRchanges · EDGAR ↗
Q2 2024$507M101Aug 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$457M107Jan 31, 202413F-HRchanges · EDGAR ↗
Q3 2023$408M108Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$429M108Aug 15, 202313F-HRchanges · EDGAR ↗
Q1 2023$412M109May 11, 202313F-HRchanges · EDGAR ↗
Q4 2022$391M101Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$373M88Nov 3, 202213F-HRchanges · EDGAR ↗
Q2 2022$365M83Aug 1, 202213F-HRchanges · EDGAR ↗
Q1 2022$421M88May 4, 202213F-HRchanges · EDGAR ↗
Q4 2021$449M85Feb 3, 202213F-HRchanges · EDGAR ↗
Q3 2021$415M86Nov 3, 202113F-HRchanges · EDGAR ↗
Q2 2021$411M79Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$363M78May 5, 202113F-HRchanges · EDGAR ↗
Q4 2020$329M77Feb 9, 202113F-HRchanges · EDGAR ↗
Q3 2020$300M72Nov 5, 202013F-HRchanges · EDGAR ↗
Q2 2020$279M70Aug 7, 202013F-HRchanges · EDGAR ↗
Q1 2020$210M69May 11, 202013F-HRchanges · EDGAR ↗
Q4 2019$352M73Feb 18, 202013F-HRchanges · EDGAR ↗
Q3 2019$337M74Nov 4, 201913F-HRchanges · EDGAR ↗
Q2 2019$363M74Aug 5, 201913F-HRchanges · EDGAR ↗
Q1 2019$365M72May 13, 201913F-HRchanges · EDGAR ↗
Q4 2018$282M71Feb 11, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.