SEC 13F Intelligence

Managers / Q1 2022 · view latest →

NBW CAPITAL LLC

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

Reported Value
$421M
Q1 2022
Positions
88
Filings on Record
27
2019–present window
Filed
May 4, 2022
original filing

Summary

Nbw Capital LLC reported $421M in U.S.-listed holdings across 88 positions for Q1 2022.

Its largest position, AAPL, represents 3.6% of the portfolio.

Compared with Q4 2021, the fund opened 12 new positions and exited 9.

Portfolio Metrics

Turnover
+10.8%
vs prior filed quarter
Top-10 Concentration
+27.1%
share of reported value
Largest Position
+3.6%
Apple
New / Exited
12 / 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: 75.1%ETP: 9.8%MLP: 9.6%REIT: 2.4%Ltd Part: 1.6%Other: 1.5%
  • Common Stock · 75.1% · $316M
  • ETP · 9.8% · $41M
  • MLP · 9.6% · $40M
  • REIT · 2.4% · $10M
  • Ltd Part · 1.6% · $7M
  • Other · 1.5% · $6M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
EPDEnterprise Products Partners,NEW+279.6K279.6K+$7M$7M
WFCWells Fargo & CompanyNEW+89.4K89.4K+$4M$4M
ENQEntegris Inc.NEW+27.7K27.7K+$4M$4M
S9QSpirit AeroSystems Holdings InNEW+39.8K39.8K+$2M$2M
IShares TR S&P 500 Index FundNEW+575575+$261,000$261,000
LMTLockheed Martin CorporationNEW+529529+$234,000$234,000
CHVChevronTexaco CorpNEW+1.3K1.3K+$214,000$214,000
GDGeneral Dynamics CorpNEW+884884+$213,000$213,000

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

Holdings — Q1 2022

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLApple, Inc.history →COM3.62%$15M87.3K
2GOOGLAlphabet, Inc. Class Ahistory →COM3.56%$15M5.4K
3LNGCheniere Energy Inchistory →COM2.77%$12M84.0K
4ROPRoper Technologies, Inc.history →COM2.69%$11M24.0K
5MSFTMicrosoft Corporationhistory →COM2.63%$11M35.9K
6DHRDanaher Corporationhistory →COM2.51%$11M36.1K
7PAGPEURPlains GP Holdingshistory →COM2.47%$10M901.9K
8ETEnergy Transfer, LPhistory →LTD2.44%$10M916.9K
9WMBWilliams Companies, Inc.history →COM2.24%$9M283.0K
10WESWestern Midstream Partnershistory →LTD2.15%$9M359.0K
11CEQPUSDCrestwood Equity Partners, LPhistory →LTD2.04%$9M286.6K
12ADIAnalog Devices, Inc.history →COM1.97%$8M50.3K
13BJBJ's Wholesale Clubhistory →COM1.90%$8M118.6K
14ITWIllinois Tool Works, Inc.history →COM1.86%$8M37.4K
15AMTAmerican Tower Corporation (REhistory →COM1.84%$8M30.8K
16Biotech ETF (SPDR S & P)COM1.79%$8M84.1K
17HESMHess Midstream LP Class Ahistory →COM1.78%$8M250.0K
18EPDEnterprise Products Partners,history →LTD1.71%$7M279.6K
19RTLRUSDRattler Midstream LPhistory →COM1.63%$7M491.7K
20PANWPalo Alto Networks, Inc.history →COM1.61%$7M10.9K
21HASIHannon Armstrong Sustainable Ihistory →COM1.61%$7M142.6K
22SPDR S & P 500 ETF TrustTR UNIT1.60%$7M15.0K
23ONEWOneWater Marine Inc.history →COM1.55%$7M189.8K
24AMAntero Midstream Corphistory →COM1.47%$6M568.6K
25BSXBoston Scientific Corporationhistory →COM1.44%$6M137.1K
26Steris PLCCOM1.41%$6M24.6K
27KEYKeyCorphistory →COM1.39%$6M261.7K
282JEFocus Financial Partners Inchistory →COM1.38%$6M127.2K
29GTLSChart Industries Inc.history →COM1.38%$6M33.9K
30WMWaste Management Inc.history →COM1.36%$6M36.1K
31MCDMcDonald's Corporationhistory →COM1.30%$5M22.2K
32UBS ETracs Alerian MLP / MLPBTR UNIT1.25%$5M293.1K
33DSGThe Descartes Systems Group, Ihistory →COM1.25%$5M72.1K
34MBUUMalibu Boats, Inc.history →COM1.24%$5M90.1K
35KMIKinder Morgan, Inc.history →COM1.23%$5M273.5K
36SIVBEURSVB Financial Grouphistory →COM1.12%$5M8.5K
37GQ9SPDR Gold Trusthistory →COM1.11%$5M25.9K
38NKENike, Inc. Class Bhistory →COM1.11%$5M34.7K
39PATKPatrick Industries, Inc.history →COM1.11%$5M77.4K
40IShares MSCI IndonesiaCOM1.09%$5M186.3K
41FTVFortive Corporationhistory →COM1.09%$5M75.6K
42PHMPulteGroup, Inc.history →COM1.09%$5M109.6K
43TSCUSDTristate Capital Holdings, Inchistory →COM1.07%$4M135.1K
44ENPHEnphase Energy Inc.history →COM1.05%$4M21.9K
45CIVICivitas Resources Inc.history →COM1.04%$4M73.6K
46NVSTEnvista Holdings Corphistory →COM1.04%$4M89.6K
47WFCWells Fargo & Companyhistory →COM1.03%$4M89.4K
48PLMRPalomar Holdings Inc.history →COM1.02%$4M67.2K
49MASMasco Corporationhistory →COM1.01%$4M83.5K
50IShares MSCI MexicoCOM0.98%$4M75.2K

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 ↗.