SEC 13F Intelligence

Managers / Q4 2021 · view latest →

NBW CAPITAL LLC

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

Reported Value
$449M
Q4 2021
Positions
85
Filings on Record
27
2019–present window
Filed
Feb 3, 2022
original filing

Summary

Nbw Capital LLC reported $449M in U.S.-listed holdings across 85 positions for Q4 2021.

Its largest position, AAPL, represents 4.4% of the portfolio.

Compared with Q3 2021, the fund opened 8 new positions and exited 9.

Portfolio Metrics

Turnover
+6.5%
vs prior filed quarter
Top-10 Concentration
+27.6%
share of reported value
Largest Position
+4.4%
Apple
New / Exited
8 / 9
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: 9.3%MLP: 5.3%Other: 2.9%REIT: 2.7%Other: 1.3%
  • Common Stock · 78.5% · $353M
  • ETP · 9.3% · $42M
  • MLP · 5.3% · $24M
  • Other · 2.9% · $13M
  • REIT · 2.7% · $12M
  • Other · 1.3% · $6M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
Russell 2000 Value Index FundNEW+22.6K22.6K+$4M$4M
CIVICivitas Resources Inc.NEW+72.5K72.5K+$4M$4M
INDBIndependent Bank Corp (MassachNEW+34.1K34.1K+$3M$3M
AVGOBroadcom IncNEW+354354+$236,000$236,000
UNPUnion Pacific CorpNEW+844844+$213,000$213,000
CVSCVS/Caremark CorpNEW+2.0K2.0K+$210,000$210,000
ABBVAbbvie, Inc.NEW+1.5K1.5K+$208,000$208,000
SOSouthern CoNEW+3.0K3.0K+$208,000$208,000

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

Holdings — Q4 2021

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLApple, Inc.history →COM4.40%$20M111.4K
2MSFTMicrosoft Corporationhistory →COM3.51%$16M46.9K
3DHRDanaher Corporationhistory →COM2.81%$13M38.3K
4GOOGLAlphabet, Inc. Class Ahistory →COM2.78%$13M4.3K
5ITWIllinois Tool Works, Inc.history →COM2.74%$12M49.9K
6ROPRoper Technologies, Inc.history →COM2.57%$12M23.5K
7LNGCheniere Energy Inchistory →COM2.48%$11M110.0K
8TYLTyler Technologies, Inc.history →COM2.15%$10M17.9K
9Biotech ETF (SPDR S & P)COM2.12%$10M85.1K
10ONEWOneWater Marine Inc.history →COM2.02%$9M149.2K
11AMTAmerican Tower Corporation (REhistory →COM2.01%$9M31.0K
12ADIAnalog Devices, Inc.history →COM1.99%$9M50.9K
13PAGPEURPlains GP Holdingshistory →COM1.97%$9M873.6K
14WESWestern Midstream Partnershistory →LTD1.79%$8M361.7K
15BJBJ's Wholesale Clubhistory →COM1.76%$8M117.8K
16WMBWilliams Companies, Inc.history →COM1.75%$8M301.9K
17PANWPalo Alto Networks, Inc.history →COM1.74%$8M14.1K
18Steris PLCCOM1.70%$8M31.5K
19HASIHannon Armstrong Sustainable Ihistory →COM1.70%$8M143.6K
202JEFocus Financial Partners Inchistory →COM1.69%$8M127.2K
21SPDR S & P 500 ETF TrustTR UNIT1.64%$7M15.5K
22ETEnergy Transfer, LPhistory →LTD1.61%$7M881.0K
23HESMHess Midstream LP Class Ahistory →COM1.59%$7M259.3K
24MASMasco Corporationhistory →COM1.56%$7M99.7K
25WMWaste Management Inc.history →COM1.50%$7M40.3K
26MCDMcDonald's Corporationhistory →COM1.50%$7M25.1K
27SIVBEURSVB Financial Grouphistory →COM1.47%$7M9.7K
28NKENike, Inc. Class Bhistory →COM1.45%$7M39.1K
29PHMPulteGroup, Inc.history →COM1.39%$6M109.7K
30PATKPatrick Industries, Inc.history →COM1.39%$6M77.4K
31FOXFFox Factory Holding Corp.history →COM1.38%$6M36.5K
32MBUUMalibu Boats, Inc.history →COM1.37%$6M89.9K
33KEYKeyCorphistory →COM1.33%$6M257.4K
34FTVFortive Corporationhistory →COM1.28%$6M75.6K
35DSGThe Descartes Systems Group, Ihistory →COM1.28%$6M69.6K
36BSXBoston Scientific Corporationhistory →COM1.27%$6M134.0K
37RTLRUSDRattler Midstream LPhistory →COM1.26%$6M498.4K
38RGENRepligen Corporationhistory →COM1.23%$6M20.9K
39GTLSChart Industries Inc.history →COM1.17%$5M33.1K
40AMAntero Midstream Corphistory →COM1.13%$5M525.3K
41UBS ETracs Alerian MLP / MLPBTR UNIT1.01%$5M295.8K
42PLMRPalomar Holdings Inc.COM0.98%$4M67.7K
43GQ9SPDR Gold TrustCOM0.97%$4M25.4K
44OKEONEOK, Inc.COM0.96%$4M73.7K
45UNHUnitedHealth Group, Inc.COM0.95%$4M8.5K
46KMIKinder Morgan, Inc.COM0.95%$4M267.8K
47IShares MSCI IndonesiaCOM0.94%$4M184.6K
48TSCUSDTristate Capital Holdings, IncCOM0.91%$4M134.5K
49ENPHEnphase Energy Inc.COM0.90%$4M22.1K
50NOCNorthrop Grumman CorpCOM0.89%$4M10.4K

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 ↗.