SEC 13F Intelligence

Managers / Q1 2026

New Capital Management LP

CIK 0001696731 · 3355 W. ALABAMA STREET, STE 275, HOUSTON, TX, 77098 · 7133886322

Reported Value
$406M
Q1 2026
Positions
59
Filings on Record
28
2019–present window
Filed
Apr 14, 2026
original filing

Summary

New Capital Management LP reported $406M in U.S.-listed holdings across 59 positions for Q1 2026.

The portfolio is heavily concentrated: DFAC alone accounts for 24.5% of reported value.

Compared with Q4 2025, the fund opened 5 new positions and exited 1.

Portfolio Metrics

Turnover
+4.6%
vs prior filed quarter
Top-10 Concentration
+76.4%
share of reported value
Largest Position
+24.5%
Dimensional Etf
New / Exited
5 / 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: $55MQ4 ’18Q1 ’19: $35MQ2 ’19: $57MQ3 ’19: $120MQ4 ’19: $60MQ4 ’19Q1 ’20: $53MQ2 ’20: $74MQ3 ’20: $91MQ4 ’20: $194MQ4 ’20Q1 ’21: $112MQ3 ’21: $182MQ4 ’21: $192MQ1 ’22: $139MQ1 ’22Q2 ’22: $182MQ3 ’22: $182MQ4 ’22: $232MQ1 ’23: $262MQ1 ’23Q3 ’23: $288MQ4 ’23: $316MQ1 ’24: $335MQ2 ’24: $326MQ2 ’24Q3 ’24: $354MQ4 ’24: $342MQ1 ’25: $348MQ2 ’25: $358MQ2 ’25Q3 ’25: $382MQ4 ’25: $398MQ1 ’26: $406Mfilingsflow.com

Portfolio Composition

By security type
ETP: 74.3%Common Stock: 25.4%REIT: 0.2%Other: 0.1%
  • ETP · 74.3% · $301M
  • Common Stock · 25.4% · $103M
  • REIT · 0.2% · $971,917
  • Other · 0.1% · $228,215

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
JPIBJ P MORGAN EXCHANGE TRADED FNEW+84.1K84.1K+$4M$4M
ISHARES TRNEW+25.7K25.7K+$3M$3M
HDHOME DEPOT INCNEW+958958+$314,914$314,914
VTOLBRISTOW GROUP INCNEW+5.8K5.8K+$270,021$270,021
CMICUMMINS INCNEW+374374+$201,346$201,346
IAU*ISHARES GOLD TRADDED+41.0K44.3K+$4M$4M
J P MORGAN EXCHANGE TRADED FSOLD OUT−6.5K0−$326,609$0
J P MORGAN EXCHANGE TRADED FTRIMMED−29.8K5.0K−$2M$255,053

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

Holdings — Q1 2026

31 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1DFACDIMENSIONAL ETF TRUSTUS CORE EQUITY 2 · WORLD EX US CORE · US SUSTAINABILTY · INTERNATIONAL · GLOBAL REAL EST · EMERGING MARKETS50.85%$206M5.63M
2BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW12.66%$51M107.2K
3ACWIISHARES TRCORE UNIVRSL USD · CORE INTL AGGR · 0-5 YR TIPS ETF · TRS FLT RT BD · 3YRTB ETF · IBOXX INV CP ETF · MSCI ACWI ETF · CORE 60/40 BALAN · ULTRA SHORT DUR · 0-3 MNTH TREASRY · CORE 80/20 AGGRE8.82%$36M602.5K
4AAPLAPPLE INChistory →COM4.84%$20M77.4K
5RBB FUND TRUSTLONGVIEW ADVANTG3.04%$12M213.4K
6ISHARES INCJP MRG EM CRP BD · US INTL HGH YLD · JP MORGAN EM ETF2.77%$11M257.7K
7BLACKROCK ETF TRUST IIISHARES FLEXIBLE2.76%$11M215.5K
8JPIBJ P MORGAN EXCHANGE TRADED FACTIVE BOND ETF · INTL BD OPP ETF2.07%$8M165.3K
9PEPPEPSICO INChistory →COM2.02%$8M52.8K
10GOOGALPHABET INCCAP STK CL C · CAP STK CL A1.49%$6M21.0K
11NVDANVIDIA CORPORATIONhistory →COM1.22%$5M28.4K
12IBITISHARES BITCOIN TRUST ETFhistory →SHS BEN INT1.15%$5M121.7K
13VANGUARD MALVERN FDSMULTI SECTOR1.06%$4M84.6K
14IAU*ISHARES GOLD TRISHARES NEW0.96%$4M44.3K
15MSFTMICROSOFT CORPCOM0.76%$3M8.3K
16VANGUARD INTL EQUITY INDEX FTT WRLD ST ETF0.36%$1M10.5K
17YUMYUM BRANDS INCCOM0.33%$1M8.7K
18KIMKIMCO REALTY CORPCOM0.24%$971,91743.3K
19METAMETA PLATFORMS INCCL A0.24%$957,8091.7K
20MAMASTERCARD INCORPORATEDCL A0.23%$926,9211.9K
21AMZNAMAZON COM INCCOM0.23%$921,8974.4K
22COSTCOSTCO WHOLESALE CORPORATIONCOM0.21%$859,171862
23NFLXNETFLIX INC.COM0.17%$709,5877.4K
24ABBVABBVIE INCCOM0.17%$707,8583.3K
25EXMOCEXXON MOBIL CORPCOM0.14%$569,1663.4K
26AVGOBROADCOM INCCOM0.13%$538,7991.7K
27STATE STR SPDR S&P 500 ETF TTR UNIT0.13%$521,528802
28YUMCYUM CHINA HLDGS INCCOM0.11%$431,8358.9K
29VUSBVANGUARD BD INDEX FDSVANGUARD ULTRA0.10%$420,5348.4K
30MLB1MERCADOLIBRE INCCOM0.09%$350,991203
31WBDWARNER BROS DISCOVERY INCCOM SER A0.09%$348,74212.7K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$406M59Apr 14, 202613F-HRchanges · EDGAR ↗
Q4 2025$398M55Jan 20, 202613F-HRchanges · EDGAR ↗
Q3 2025$382M54Oct 8, 202513F-HRchanges · EDGAR ↗
Q2 2025$358M56Jul 7, 202513F-HRchanges · EDGAR ↗
Q1 2025$348M50Apr 29, 202513F-HRchanges · EDGAR ↗
Q4 2024$342M51Jan 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$354M52Oct 7, 202413F-HRchanges · EDGAR ↗
Q2 2024$326M54Jul 11, 202413F-HRchanges · EDGAR ↗
Q1 2024$335M57Apr 9, 202413F-HRchanges · EDGAR ↗
Q4 2023$316M51Jan 19, 202413F-HRchanges · EDGAR ↗
Q3 2023$288M57Oct 12, 202313F-HRchanges · EDGAR ↗
Q1 2023$262M58Apr 6, 202313F-HRchanges · EDGAR ↗
Q4 2022$232M48Jan 11, 202313F-HRchanges · EDGAR ↗
Q3 2022$182M43Oct 11, 202213F-HRchanges · EDGAR ↗
Q2 2022$182M43Jul 8, 202213F-HRchanges · EDGAR ↗
Q1 2022$139M48Apr 8, 202213F-HRchanges · EDGAR ↗
Q4 2021$192M42Jan 28, 202213F-HRchanges · EDGAR ↗
Q3 2021$182M42Oct 7, 202113F-HRchanges · EDGAR ↗
Q1 2021$112M127Apr 15, 202113F-HRchanges · EDGAR ↗
Q4 2020$194M153Jan 21, 202113F-HRchanges · EDGAR ↗
Q3 2020$91M124Oct 9, 202013F-HRchanges · EDGAR ↗
Q2 2020$74M126Jul 8, 202013F-HRchanges · EDGAR ↗
Q1 2020$53M109Apr 17, 202013F-HRchanges · EDGAR ↗
Q4 2019$60M134Jan 10, 202013F-HRchanges · EDGAR ↗
Q3 2019$120M136Oct 9, 201913F-HRchanges · EDGAR ↗
Q2 2019$57M134Jul 11, 201913F-HRchanges · EDGAR ↗
Q1 2019$35M138Apr 19, 201913F-HRchanges · EDGAR ↗
Q4 2018$55M128Jan 18, 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 ↗.