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5NCM
59 North Capital Management Portfolio holdings
AUM
$3.35B
1-Year Est. Return
22.14%
This Fund
S&P 500
This Quarter
Est. Return
+17.91%
1 Year Est. Return
+22.14%
3 Year Est. Return
+101.07%
5 Year Est. Return
+107.98%
10 Year Est. Return
–
AUM
$2.8B
AUM Growth
+$24.4M
(+0.88%)
Cap. Flow
-$324M
Cap. Flow
% of AUM
-11.56%
Top 10 Holdings %
Top 10 Hldgs %
91.11%
Holding
17
New
3
Increased
5
Reduced
5
Closed
3
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
DT Midstream
DTM
|
+$209M |
| 2 |
Kinder Morgan
KMI
|
+$103M |
| 3 |
EXE
Expand Energy Corp
EXE
|
+$98.2M |
| 4 |
Carnival Corporation Ltd
CCL
|
+$88.9M |
| 5 |
News Corp Class A
NWSA
|
+$41.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SPDR Gold Trust
GLD
|
+$364M |
| 2 |
iShares Russell 2000 ETF
IWM
|
+$155M |
| 3 |
Cedar Fair
FUN
|
+$136M |
| 4 |
AerCap
AER
|
+$101M |
| 5 |
Flutter Entertainment
FLUT
|
+$87.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 31.01% |
| 2 | Energy | 22.89% |
| 3 | Communication Services | 17.76% |
| 4 | Consumer Discretionary | 9.1% |
| 5 | Utilities | 7.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
AerCap
AER
$23.4B
| $500M | 17.84% |
4,271,324
-938,210
| -18% | -$101M |
|
|
2
News Corp Class A
NWSA
$15.6B
| $376M | 13.42% |
12,650,867
+1,503,213
| +13% | +$41.3M |
|
|
3
Kinder Morgan
KMI
$70.9B
| $312M | 11.12% |
10,597,380
+3,739,398
| +55% | +$103M |
|
4
Louisiana-Pacific
LPX
$5.14B
| $241M | 8.62% |
2,808,369
+189,726
| +7% | +$16.9M |
|
|
5
DT Midstream
DTM
$13.9B
| $227M | 8.1% |
+2,063,116
| New | +$209M |
|
6
Constellation Energy
CEG
$92.1B
| $223M | 7.97% |
691,271
+27,682
| +4% | +$7.33M |
|
|
7
Carnival Corporation Ltd
CCL
$38.1B
| $217M | 7.73% |
7,704,185
+4,155,630
| +117% | +$88.9M |
|
|
8
iShares Russell 2000 ETF
IWM
$79.1B
| $208M | 7.42% |
963,347
-767,816
| -44% | -$155M |
|
9
Ferguson
FERG
$43.9B
| $127M | 4.55% |
584,664
-139,735
| -19% | -$25.7M |
|
10
News Corp Class B
NWS
$17.7B
| $122M | 4.34% |
3,543,717
-256,256
| -7% | -$8.12M |
|
|
EXE
11
Expand Energy Corp
EXE
$22.1B
| $103M | 3.68% |
+880,359
| New | +$98.2M |
|
12
Lamar Advertising Co
LAMR
$16.7B
| $71.8M | 2.56% |
591,487
| – | – |
|
13
Norwegian Cruise Line
NCLH
$9.53B
| $38.3M | 1.37% |
1,886,994
-1,798,511
| -49% | -$32.2M |
|
14
Core Scientific
CORZ
$5.79B
| $36M | 1.28% |
+2,108,356
| New | +$21.1M |
|
|
15
Cedar Fair
FUN
$1.88B
| – | – |
-3,801,830
| Closed | -$136M |
|
|
16
SPDR Gold Trust
GLD
$131B
| – | – |
-1,263,196
| Closed | -$364M |
|
|
17
Flutter Entertainment
FLUT
$18.7B
| – | – |
-395,887
| Closed | -$87.7M |
|
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59 North Capital Management's Q2 2025 Portfolio in Review
As of Q2 2025, 59 North Capital Management held 17 positions worth $2.8B, up 0.88% from $2.78B the previous quarter. Its ten largest holdings account for 91% of the portfolio.
59 North Capital Management withdrew a net $324M in Q2 2025, closing 3 positions and reducing 5 holdings. Its most notable exit was SPDR Gold Trust, an estimated $364M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 31% of assets, down from 32% a quarter earlier, followed by Energy and Communication Services.
Against the trend, 59 North Capital Management opened a new position in DT Midstream worth $227M.
- 59 North Capital Management's largest Q2 2025 buy was DT Midstream: 2,063,116 shares worth $227M.
- 59 North Capital Management added most to Kinder Morgan in Q2 2025, an estimated $103M increase.
- 59 North Capital Management's biggest Q2 2025 reduction was iShares Russell 2000 ETF, cutting an estimated $155M.
- 59 North Capital Management fully exited SPDR Gold Trust in Q2 2025, selling an estimated $364M.
- 59 North Capital Management's ten largest holdings make up 91% of its $2.8B portfolio in Q2 2025.
- 59 North Capital Management opened 3 new positions and closed 3 in Q2 2025.
- 59 North Capital Management's portfolio value rose 0.88% quarter-over-quarter to $2.8B.
Based on 59 North Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.