Q3 2026 13F · SEC CIK 1696731

New Capital Management LP

Hedge fundFiled 2026-10-29 for Q3 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $446.9M
Reported positions: 58
Top holdings a year, 3 yrs: +13.2%
Average holding period: 5.2 yrs

New Capital Management LP is a hedge fund that reported 58 positions worth $446.9M in its Q3 2026 13F, filed 2026-10-29. Its largest holdings were Dimensional ETF Trust (DFAC, 25.5%), Dimensional ETF Trust (DFAX, 20.2%), Berkshire Hathaway Inc Del (BRK-B, 11.9%). A portfolio copying its top holdings returned 13.2% a year over the last 3 years, against 20.4% for the S&P 500.

New Capital Management LP holdings largest 50 of 58 positions.

Weights are shares of the filer's total reported 13F value, compared with Q2 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

New Capital Management LP 13F holdings
Stock	% of 13F value	Q2 2026	Shares	Share change	Reported value
DFACDimensional ETF Trust	25.5%	26.0%	2,566,848	-0.1%	$114.1M
DFAXDimensional ETF Trust	20.2%	20.2%	2,444,053	+1.4%	$90.5M
BRK-BBerkshire Hathaway Inc Del	11.9%	12.2%	106,941	-0.2%	$53.3M
AAPLApple Inc	5.8%	5.1%	77,260	-0.0%	$25.7M
EBIRbb Fund Trust	3.1%	3.2%	211,922	-0.7%	$13.9M
BINCBlackrock ETF Trust II	2.6%	2.6%	226,948	+3.9%	$11.5M
DFSUDimensional ETF Trust	2.3%	2.6%	215,521	-13.1%	$10.2M
IUSBIshares Tr	2.0%	2.1%	207,159	+5.3%	$9.1M
IAGGIshares Tr	1.7%	1.8%	156,323	+1.6%	$7.7M
DFSIDimensional ETF Trust	1.6%	1.8%	154,597	-14.1%	$7.0M
PEPPepsico Inc	1.5%	1.6%	52,650	-0.2%	$6.7M
NVDANvidia Corporation	1.4%	1.3%	27,129	-4.7%	$6.2M
GOOGAlphabet Inc	1.3%	1.4%	17,453	-2.5%	$5.9M
IBITIshares Bitcoin Trust ETF	1.3%	0.9%	121,017	+1.2%	$5.7M
TFLOIshares Tr	1.3%	1.1%	111,915	+13.4%	$5.7M
STIPIshares Tr	1.2%	1.2%	52,936	+1.7%	$5.3M
DFGRDimensional ETF Trust	1.2%	1.3%	192,666	+0.1%	$5.2M
VGMSVanguard Malvern Fds	1.0%	1.0%	88,414	+3.3%	$4.4M
JBNDJ P Morgan Exchange Traded F	1.0%	1.0%	85,184	+3.8%	$4.4M
MSFTMicrosoft Corp	1.0%	0.7%	8,335	-0.4%	$4.3M
IAUIshares Gold Tr	0.9%	0.8%	53,221	+12.8%	$4.2M
JPIBJ P Morgan Exchange Traded F	0.9%	0.9%	87,442	+3.1%	$4.1M
LEMBIshares Inc	0.9%	0.9%	91,859	+1.4%	$3.9M
ISHGIshares Tr	0.9%	0.9%	51,419	+1.2%	$3.8M
CEMBIshares Inc	0.8%	0.9%	85,739	+1.0%	$3.8M
GHYGIshares Inc	0.8%	0.9%	85,671	+0.9%	$3.7M
FENYFidelity Covington Trust	0.8%	—	104,275	—	$3.5M
DFSEDimensional ETF Trust	0.7%	0.8%	60,619	-10.6%	$2.9M
LQDIshares Tr	0.6%	0.6%	26,301	+1.6%	$2.7M
VTVanguard Intl Equity Index F	0.3%	0.4%	9,819	-6.9%	$1.5M
METAMeta Platforms Inc	0.3%	0.2%	1,665	-1.1%	$1.2M
YUMYum Brands Inc	0.3%	0.3%	8,662	+0.0%	$1.2M
AMZNAmazon Com Inc	0.3%	0.2%	4,491	-0.7%	$1.1M
GOOGLAlphabet Inc	0.2%	0.3%	3,073	-1.1%	$1.1M
MAMastercard Incorporated	0.2%	0.2%	1,861	-0.7%	$1.0M
KIMKimco Realty Corp	0.2%	0.3%	43,254	+0.0%	$961K
ABBVAbbvie Inc	0.2%	0.2%	3,254	-0.3%	$851K
ACWIIshares Tr	0.2%	0.2%	5,173	+13.1%	$821K
COSTCostco Wholesale Corporation	0.2%	0.2%	869	+0.0%	$791K
SPYState Str Spdr S&p 500 ETF T	0.2%	0.1%	1,018	+26.9%	$776K
AVGOBroadcom Inc	0.1%	0.1%	1,858	+8.5%	$653K
AORIshares Tr	0.1%	0.1%	9,476	+5.5%	$649K
XOMExxonmobil Holdings Corp	0.1%	—	3,386	—	$551K
NFLXNetflix Inc.	0.1%	0.1%	7,440	+0.0%	$518K
LLYEli Lilly & Co	0.1%	0.1%	340	+0.0%	$394K
WBDWarner Bros Discovery Inc	0.1%	0.1%	12,700	+0.0%	$393K
AOAIshares Tr	0.1%	0.1%	3,916	+0.3%	$381K
YUMCYum China Hldgs Inc	0.1%	0.1%	8,853	+0.0%	$364K
MELIMercadolibre Inc	0.1%	0.1%	200	-1.5%	$346K
HDHome Depot Inc	0.1%	0.1%	958	+0.0%	$272K

What New Capital Management LP bought and sold in Q3 2026, against Q2 2026.

New positions

Q2 2026's filing was too long to tell new positions apart.

Share counts compared with the Q2 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +15.3% /yr; S&P 500 +20.1%
3 years: +13.2% /yr; S&P 500 +20.4%
5 years: +7.9% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q3 2026	$446.9M	58
Q2 2026	$439.0M	60
Q1 2026	$405.7M	59
Q4 2025	$398.1M	55
Q3 2025	$381.7M	54
Q2 2025	$358.3M	56
Q1 2025	$348.5M	50
Q4 2024	$342.0M	51
Q3 2024	$354.3M	52
Q2 2024	$325.9M	54
Q1 2024	$334.9M	57
Q4 2023	$316.1M	51

Questions about New Capital Management LP's portfolio

What stocks does New Capital Management LP own?

New Capital Management LP's latest 13F, for Q3 2026 and filed Oct 29, 2026, lists 58 positions worth $446.9M. The largest are Dimensional ETF Trust (DFAC) at 25.5%, Dimensional ETF Trust (DFAX) at 20.2%, Berkshire Hathaway Inc Del (BRK-B) at 11.9%, Apple Inc (AAPL) at 5.8% and Rbb Fund Trust (EBI) at 3.1%.

What did New Capital Management LP buy last quarter?

In Q3 2026, New Capital Management LP added State Str Spdr S&p 500 ETF T (SPY) (+26.9% shares), Ishares Tr (TFLO) (+13.4% shares) and Ishares Tr (ACWI) (+13.1% shares), compared with its Q2 2026 filing.

What did New Capital Management LP sell last quarter?

In Q3 2026, New Capital Management LP cut from its top 50 Exxon Mobil Corp (XOM), cut from its top 50 Vanguard Bd Index Fds (VUSB), Dimensional ETF Trust (DFSI) (-14.1% shares), Dimensional ETF Trust (DFSU) (-13.1% shares) and Dimensional ETF Trust (DFSE) (-10.6% shares), compared with its Q2 2026 filing.

How has New Capital Management LP's portfolio performed?

A portfolio copying New Capital Management LP's 20 largest 13F holdings each quarter, from the day each filing was public, returned +13.2% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +15.3% against +20.1%. Over 5 years: +7.9% a year against +11.6%.

When is New Capital Management LP's next 13F filing due?

13F filings are due 45 days after each quarter ends. New Capital Management LP's filing for the quarter ending Dec 31, 2026 is due by Feb 14, 2027; this page updates the day after it is published.