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NCM

New Capital Management Portfolio holdings

AUM $439M
1-Year Est. Return 16.55%
This Fund
S&P 500
This Quarter Est. Return
+2.2%
1 Year Est. Return
+16.55%
3 Year Est. Return
+49.41%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$398M
AUM Growth
+$16.4M
Cap. Flow
+$9.55M
Cap. Flow %
2.4%
Top 10 Hldgs %
79.38%
Holding
56
New
2
Increased
13
Reduced
23
Closed
1

Top Buys

Rank Stock Value
1
BINC icon
BlackRock Flexible Income ETF
BINC
+$6.3M
2
VGMS
Vanguard Multi-Sector Income Bond ETF
VGMS
+$5.22M
3
JBND icon
JPMorgan Active Bond ETF
JBND
+$5.2M
4
GOOG icon
Alphabet (Google) Class C
GOOG
+$4.1M
5
DFAX icon
Dimensional World ex US Core Equity 2 ETF
DFAX
+$486K

Top Sells

Rank Stock Value
1
JPST icon
JPMorgan Ultra-Short Income ETF
JPST
+$4.62M
2
TFLO icon
iShares Treasury Floating Rate Bond ETF
TFLO
+$3.07M
3
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$1.88M
4
NVDA icon
NVIDIA
NVDA
+$894K
5
DFSU
Dimensional US Sustainability Core 1 ETF
DFSU
+$316K

Sector Composition

Rank Sector Weight
1 Financials 13.93%
2 Technology 7.72%
3 Consumer Staples 2.1%
4 Communication Services 2.08%
5 Consumer Discretionary 0.8%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IAU icon
51
iShares Gold Trust
IAU
$67.5B
$264K 0.07%
3,250
– –
AON icon
52
Aon
AON
$76B
$249K 0.06%
707
– –
DFCF icon
53
Dimensional Core Fixed Income ETF
DFCF
$10.9B
$245K 0.06%
5,754
-2,711
-32% -$116K
NEAR icon
54
iShares Short Maturity Bond ETF
NEAR
$4.85B
$220K 0.06%
4,307
-148
-3% -$7.58K
AGG icon
55
iShares Core US Aggregate Bond ETF
AGG
$138B
$211K 0.05%
2,117
-1,885
-47% -$189K
DUSB icon
56
Dimensional Ultrashort Fixed Income ETF
DUSB
$2.23B
– –
-4,470
Closed -$227K
1 2
3

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New Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, New Capital Management held 56 positions worth $398M, up 4.3% from $382M the previous quarter. Its ten largest holdings account for 79% of the portfolio.

New Capital Management's Q4 2025 filing shows 2 new, 13 increased, 23 reduced and 1 closed positions. Its largest new stake was Vanguard Multi-Sector Income Bond ETF: 101,010 shares worth $5.21M. The largest sale was JPMorgan Ultra-Short Income ETF, an estimated $4.62M.

By sector, the portfolio is most concentrated in Financials at 14% of assets, down from 15% a quarter earlier, followed by Technology and Consumer Staples.

  • New Capital Management's largest Q4 2025 buy was Vanguard Multi-Sector Income Bond ETF: 101,010 shares worth $5.21M.
  • New Capital Management added most to BlackRock Flexible Income ETF in Q4 2025, an estimated $6.3M increase.
  • New Capital Management's biggest Q4 2025 reduction was JPMorgan Ultra-Short Income ETF, cutting an estimated $4.62M.
  • New Capital Management fully exited Dimensional Ultrashort Fixed Income ETF in Q4 2025, selling an estimated $227K.
  • New Capital Management's ten largest holdings make up 79% of its $398M portfolio in Q4 2025.
  • New Capital Management opened 2 new positions and closed 1 in Q4 2025.
  • New Capital Management's portfolio value rose 4.3% quarter-over-quarter to $398M.

Based on New Capital Management's 13F filing for Q4 2025, filed 20 Jan 2026.