NBW Capital LLC

Name: NBW CAPITAL LLC 13F holdings, Q1 2024
Creator: NBW CAPITAL LLC
Published: 2024-06-13

Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed June 13, 2024), NBW Capital LLC reported 111 stock positions worth $489.2 million. Its top holding was Alphabet Class A (GOOGL) at 4.3% of the portfolio, followed by Microsoft (MSFT, 4.2%) and SS SPDR S&P 500 ETF Trust-US (SPY, 3.6%). Compared with Q4 2023, it opened 12 new positions, sold out of 8, added to 55 and reduced 43. The biggest buy was Chart Industries (GTLS, shares +29%) and the biggest sale an exit from Splunk (SPLK).

Most Recent 13F: Q2 2025
Location: BOSTON, MA
CIK: 0001512901
Portfolio Value: $489.2M (Q1 2024)
SEC Filing: 0001512901-24-000002 ↗ filed Jun 13, 2024

Holdings Value

Holdings 111 stocks · $489.2M


GOOGL Alphabet Inc. Class A	4.33%	140,381	$21.2M	Add +0.1%
MSFT Microsoft Corp.	4.16%	48,373	$20.4M	Add +1.2%
SPY SS SPDR S&P 500 ETF Trust-US	3.63%	33,989	$17.8M	Reduce -2.8%
ENLC Enlink Midstream LLC	3.06%	1,098,404	$15.0M	Add +5.7%
AAPL Apple Inc.	3.02%	86,239	$14.8M	Reduce -0.8%
ET Energy Transfer LP	2.95%	918,424	$14.4M	Add +0.2%
MPLX MPLX LP	2.36%	277,436	$11.5M	Add +2.0%
WES Western Midstream Partners L	2.34%	321,932	$11.4M	Reduce -0.0%
WMB Williams Cos Inc.	2.16%	270,546	$10.5M	Add +3.4%
JPM JPMorgan Chase & Co.	2.14%	52,315	$10.5M	Add +2.6%
PHM Pultegroup Inc.	2.07%	83,862	$10.1M	Reduce -4.2%
GTLS Chart Industries Inc.	1.97%	58,651	$9.7M	Add +28.6%
PAA Plains All Amer Pipeline LP	1.89%	526,843	$9.3M	Add +1.0%
ADI Analog Devices Inc.	1.88%	46,392	$9.2M	Add +5.6%
VRTX Vertex Pharmaceuticals Inc.	1.75%	20,443	$8.5M	Add +5.2%
LNG Cheniere Energy Inc.	1.73%	52,365	$8.4M	Reduce -0.3%
ITW Illinois Tool Works	1.70%	31,061	$8.3M	Add +3.6%
ROP Roper Technologies Inc.	1.70%	14,844	$8.3M	Add +4.5%
IWO iShares Russell 2000 Growth	1.68%	30,322	$8.2M	Reduce -0.3%
PATK Patrick Industries Inc.	1.65%	67,470	$8.1M	Reduce -4.5%
PLMR Palomar Holdings Inc.	1.63%	95,222	$8.0M	Add +0.5%
PANW Palo Alto Networks Inc.	1.62%	27,956	$7.9M	Reduce -9.1%
AM Antero Midstream Corp.	1.55%	539,409	$7.6M	Add +2.1%
EPD Enterprise Products Partners	1.53%	256,927	$7.5M	Add +2.5%
AMT American Tower Corp.	1.46%	36,087	$7.1M	Add +5.9%
ONEW Onewater Marine Inc. Class A	1.46%	253,079	$7.1M	Add +1.6%
HQY Healthequity Inc.	1.44%	86,391	$7.1M	Reduce -0.3%
BSX Boston Scientific Corp.	1.44%	102,690	$7.0M	Reduce -1.4%
DSGX The Descartes Systems Grp	1.34%	71,509	$6.5M	Add +3.5%
AROC Archrock Inc.	1.34%	332,164	$6.5M	Reduce -9.8%
STE Steris PLC	1.29%	28,139	$6.3M	Add +5.3%
WFC Wells Fargo & Co.	1.29%	108,685	$6.3M	Reduce -0.3%
DHR Danaher Corp.	1.26%	24,779	$6.2M	Add +3.8%
RGEN Repligen Corp.	1.26%	33,616	$6.2M	Add +1.8%
MAS Masco Corp.	1.26%	77,896	$6.1M	Reduce -20.9%
TYL Tyler Technologies Inc.	1.25%	14,331	$6.1M	Add +7.4%
BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC	1.15%	74,675	$5.6M	Reduce -32.0%
MLPB Etracs Alerian Infrast Ser B filed as UBS AG LONDON BRANCH	1.15%	233,776	$5.6M	Reduce -1.5%
MCD McDonald's Corp.	1.15%	20,013	$5.6M	Add +10.7%
MA Mastercard Inc. Class A	1.13%	11,435	$5.5M	Add +3.5%
PAGP Plains GP Holdings LP	1.11%	298,285	$5.4M	Reduce -4.2%
Secure Energy Services, Inc.	1.09%	645,332	$5.3M	Reduce -4.3%
HASI Ha Sustainable Infrastructur filed as HANNON ARMSTRONG SUST INFR C	1.04%	179,929	$5.1M	Add +3.0%
GLD SPDR Gold Shares	1.04%	24,798	$5.1M	Add +3.4%
EIDO iShares MSCI Indonesia ETF	1.03%	224,111	$5.0M	Add +22.2%
V Visa Inc. Class A	1.03%	18,049	$5.0M	Add +2.8%
BPMC Blueprint Medicines Corp.	0.99%	50,944	$4.8M	Reduce -3.4%
EA Electronic Arts Inc.	0.95%	34,916	$4.6M	Add +7.5%
INDA iShares MSCI India ETF	0.92%	86,959	$4.5M	Add +3.3%
NKE Nike Inc. Class B	0.91%	47,539	$4.5M	Add +0.9%
ORLY O'reilly Automotive Inc.	0.90%	3,889	$4.4M	Add +1.9%
RJF Raymond James Financial Inc.	0.89%	33,848	$4.3M	Add +0.5%
UNH Unitedhealth Group Inc.	0.87%	8,611	$4.3M	Reduce -20.7%
MBUU Malibu Boats Inc. Class A	0.85%	96,386	$4.2M	Add +2.1%
NOC Northrop Grumman Corp.	0.85%	8,690	$4.2M	Add +7.8%
WM Waste Management Inc.	0.83%	18,976	$4.0M	Reduce -16.8%
CIVI Civitas Resources Inc.	0.74%	47,605	$3.6M	Reduce -0.4%
ETRN Equitrans Midstream Corp.	0.74%	288,953	$3.6M	Add +4.2%
HESM Hess Midstream LP Class A	0.72%	97,688	$3.5M	Reduce -3.9%
ATI Ati Inc.	0.71%	67,681	$3.5M	Reduce -29.3%
FTV Fortive Corp.	0.70%	40,037	$3.4M	Add +1.6%
SONO Sonos Inc.	0.60%	153,189	$2.9M	Reduce -2.5%
FOXF Fox Factory Holding Corp.	0.56%	52,214	$2.7M	Reduce -0.6%
NGL NGL Energy Partners LP	0.52%	438,962	$2.5M	Add +40.7%
ROCK Gibraltar Industries Inc.	0.43%	26,156	$2.1M	New
HXL Hexcel Corp.	0.40%	26,944	$2.0M	Add +11.6%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.34%	43,279	$1.6M	Reduce -3.1%
SYRE Spyre Therapeutics Inc.	0.27%	34,360	$1.3M	New
AMJ JPMorgan Alerian MLP Index	0.20%	33,901	$966K	Add +103.0%
IWM iShares Russell 2000 ETF	0.16%	3,668	$771K	Add +183.2%
LLY Eli Lilly & Co.	0.14%	876	$681K	Add +13.3%
VLTO Veralto Corp.	0.13%	7,266	$644K	Reduce -0.5%
ABBV Abbvie Inc.	0.11%	3,051	$556K	Add +0.4%
SPYG SS SPDR P S&P 500 Growth ETF	0.10%	6,997	$512K	Reduce -2.8%
XLE SS Energy Select Sector	0.09%	4,605	$435K	Add +4.1%
KMI Kinder Morgan Inc.	0.08%	22,124	$406K	Reduce -28.2%
PEP Pepsico Inc.	0.08%	2,139	$374K	Add +12.3%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.08%	1,930	$369K	Reduce -17.6%
DFAC Dimensional US Core Equity 2	0.06%	9,568	$306K	New
QQQ Invesco QQQ Trust Series 1	0.06%	687	$305K	Reduce -52.9%
AMGN Amgen Inc.	0.06%	1,066	$303K	Add +24.8%
OKE Oneok Inc.	0.06%	3,780	$303K	Reduce -0.3%
IVV iShares Core S&P 500 ETF	0.06%	572	$301K	Reduce -2.4%
MRK Merck & Co. Inc.	0.06%	2,152	$284K	Add +0.1%
PG The Procter & Gamble Co.	0.06%	1,684	$273K	New
TGT Target Corp.	0.05%	1,507	$267K	New
PSX Phillips 66	0.05%	1,598	$261K	New
GS Goldman Sachs Group Inc.	0.05%	614	$256K	Reduce -3.6%
SO The Southern Co.	0.05%	3,554	$255K	Reduce -2.0%
NEE Nextera Energy Inc.	0.05%	3,982	$254K	Reduce -2.2%
JNJ Johnson & Johnson	0.05%	1,580	$250K	Add +22.3%
VZ Verizon Communications Inc.	0.05%	5,926	$249K	Add +2.2%
MDT Medtronic Inc	0.05%	2,806	$245K	Reduce -0.2%
WELL Welltower Inc.	0.05%	2,590	$242K	New
MO Altria Group Inc.	0.05%	5,544	$242K	New
KO The Coca-Cola Co.	0.05%	3,939	$241K	Add +0.0%
TXN Texas Instruments Inc.	0.05%	1,377	$240K	New
CSCO Cisco Systems Inc.	0.05%	4,804	$240K	Reduce -1.9%
MS Morgan Stanley	0.05%	2,533	$239K	Reduce -1.4%
BLK BlackRock Finance Inc.	0.05%	286	$238K	Reduce -16.6%
T AT&T Inc.	0.05%	13,491	$237K	Reduce -7.4%
DUK Duke Energy Corp.	0.05%	2,442	$236K	Add +12.1%
LMT Lockheed Martin Corp.	0.05%	514	$234K	Add +6.6%
PLD Prologis Inc.	0.05%	1,744	$227K	Reduce -11.1%
CVS CVS Health Corp.	0.05%	2,816	$225K	Add +8.2%
IWR iShares Russell Mid-Cap ETF	0.05%	2,671	$225K	Reduce -30.4%
PM Philip Morris International	0.04%	2,391	$219K	Add +3.0%
CVX Chevron Corp.	0.04%	1,369	$216K	New
PSA Public Storage	0.04%	724	$210K	New
XOM Exxon Mobil Corp.	0.04%	1,722	$200K	New
MRMD Marimed Inc.	0.00%	22,700	$6K	No change

Portfolio Sells Q4 2023 → Q1 2024


SPLK Splunk Inc.	Sold out	0.00%	−1.82
AAPL Apple Inc.	Reduce -0.8%	3.02%	−0.64
BJ Bj's Wholesale Club Holdings	Reduce -32.0%	1.15%	−0.45
UNH Unitedhealth Group Inc.	Reduce -20.7%	0.87%	−0.38
PANW Palo Alto Networks Inc.	Reduce -9.1%	1.62%	−0.36
ATI Ati Inc.	Reduce -29.3%	0.71%	−0.25
LNG Cheniere Energy Inc.	Reduce -0.3%	1.73%	−0.24
FOXF Fox Factory Holding Corp.	Reduce -0.6%	0.56%	−0.22
MAS Masco Corp.	Reduce -20.9%	1.26%	−0.19
BPMC Blueprint Medicines Corp.	Reduce -3.4%	0.99%	−0.08
QQQ Invesco QQQ Trust Series 1	Reduce -52.9%	0.06%	−0.07
WM Waste Management Inc.	Reduce -16.8%	0.83%	−0.07
HD Home Depot Inc.	Sold out	0.00%	−0.07
QCOM Qualcomm Inc.	Sold out	0.00%	−0.07
BX Blackstone Inc.	Sold out	0.00%	−0.06
CL Colgate-Palmolive Co.	Sold out	0.00%	−0.05
GILD Gilead Sciences Inc.	Sold out	0.00%	−0.05
MMM 3M Co.	Sold out	0.00%	−0.05
KMI Kinder Morgan Inc.	Reduce -28.2%	0.08%	−0.04
IWR iShares Russell Mid-Cap ETF	Reduce -30.4%	0.05%	−0.02
GLO Clough Global Opportunities	Sold out	0.00%	−0.02
BLK BlackRock Finance Inc.	Reduce -16.6%	0.05%	−0.01
PLD Prologis Inc.	Reduce -11.1%	0.05%	−0.01
IBM Intl Business Machines Corp.	Reduce -17.6%	0.08%	−0.01
SPY SS SPDR S&P 500 ETF Trust-US	Reduce -2.8%	3.63%	−0.01
CSCO Cisco Systems Inc.	Reduce -1.9%	0.05%	−0.01
T AT&T Inc.	Reduce -7.4%	0.05%	−0.01
MS Morgan Stanley	Reduce -1.4%	0.05%	−0.00
SO The Southern Co.	Reduce -2.0%	0.05%	−0.00
NEE Nextera Energy Inc.	Reduce -2.2%	0.05%	−0.00
IWO iShares Russell 2000 Growth	Reduce -0.3%	1.68%	−0.00
GS Goldman Sachs Group Inc.	Reduce -3.6%	0.05%	−0.00
MDT Medtronic Inc	Reduce -0.2%	0.05%	−0.00
IVV iShares Core S&P 500 ETF	Reduce -2.4%	0.06%	+0.00
VLTO Veralto Corp.	Reduce -0.5%	0.13%	+0.00
SPYG SS SPDR P S&P 500 Growth ETF	Reduce -2.8%	0.10%	+0.00
OKE Oneok Inc.	Reduce -0.3%	0.06%	+0.00
BAC Bank of America Corp.	Reduce -3.1%	0.34%	+0.01
SONO Sonos Inc.	Reduce -2.5%	0.60%	+0.01
HESM Hess Midstream LP Class A	Reduce -3.9%	0.72%	+0.02
CIVI Civitas Resources Inc.	Reduce -0.4%	0.74%	+0.02
PAGP Plains GP Holdings LP	Reduce -4.2%	1.11%	+0.03
Secure Energy Services, Inc.	Reduce -4.3%	1.09%	+0.04
MLPB Etracs Alerian Infrast Ser B	Reduce -1.5%	1.15%	+0.04
PHM Pultegroup Inc.	Reduce -4.2%	2.07%	+0.09
AROC Archrock Inc.	Reduce -9.8%	1.34%	+0.09
PATK Patrick Industries Inc.	Reduce -4.5%	1.65%	+0.09
WFC Wells Fargo & Co.	Reduce -0.3%	1.29%	+0.11
BSX Boston Scientific Corp.	Reduce -1.4%	1.44%	+0.12
HQY Healthequity Inc.	Reduce -0.3%	1.44%	+0.18

Portfolio Buys Q4 2023 → Q1 2024


GTLS Chart Industries Inc.	Add +28.6%	1.97%	+0.61
PLMR Palomar Holdings Inc.	Add +0.5%	1.63%	+0.48
ROCK Gibraltar Industries Inc.	New	0.43%	+0.43
ENLC Enlink Midstream LLC	Add +5.7%	3.06%	+0.30
SYRE Spyre Therapeutics Inc.	New	0.27%	+0.27
JPM JPMorgan Chase & Co.	Add +2.6%	2.14%	+0.24
MSFT Microsoft Corp.	Add +1.2%	4.16%	+0.22
ET Energy Transfer LP	Add +0.2%	2.95%	+0.18
MPLX MPLX LP	Add +2.0%	2.36%	+0.17
PAA Plains All Amer Pipeline LP	Add +1.0%	1.89%	+0.16
WMB Williams Cos Inc.	Add +3.4%	2.16%	+0.16
NGL NGL Energy Partners LP	Add +40.7%	0.52%	+0.14
EIDO iShares MSCI Indonesia ETF	Add +22.2%	1.03%	+0.14
ETRN Equitrans Midstream Corp.	Add +4.2%	0.74%	+0.12
AMJ JPMorgan Alerian MLP Index	Add +103.0%	0.20%	+0.10
ORLY O'reilly Automotive Inc.	Add +1.9%	0.90%	+0.10
AM Antero Midstream Corp.	Add +2.1%	1.55%	+0.10
IWM iShares Russell 2000 ETF	Add +183.2%	0.16%	+0.10
MA Mastercard Inc. Class A	Add +3.5%	1.13%	+0.09
EPD Enterprise Products Partners	Add +2.5%	1.53%	+0.09
FTV Fortive Corp.	Add +1.6%	0.70%	+0.07
RJF Raymond James Financial Inc.	Add +0.5%	0.89%	+0.07
DSGX The Descartes Systems Grp	Add +3.5%	1.34%	+0.07
DFAC Dimensional US Core Equity 2	New	0.06%	+0.06
DHR Danaher Corp.	Add +3.8%	1.26%	+0.06
PG The Procter & Gamble Co.	New	0.06%	+0.06
TGT Target Corp.	New	0.05%	+0.05
PSX Phillips 66	New	0.05%	+0.05
WELL Welltower Inc.	New	0.05%	+0.05
MO Altria Group Inc.	New	0.05%	+0.05
TXN Texas Instruments Inc.	New	0.05%	+0.05
CVX Chevron Corp.	New	0.04%	+0.04
PSA Public Storage	New	0.04%	+0.04
XOM Exxon Mobil Corp.	New	0.04%	+0.04
LLY Eli Lilly & Co.	Add +13.3%	0.14%	+0.04
GOOGL Alphabet Inc. Class A	Add +0.1%	4.33%	+0.04
GLD SPDR Gold Shares	Add +3.4%	1.04%	+0.04
V Visa Inc. Class A	Add +2.8%	1.03%	+0.03
NOC Northrop Grumman Corp.	Add +7.8%	0.85%	+0.02
TYL Tyler Technologies Inc.	Add +7.4%	1.25%	+0.02
INDA iShares MSCI India ETF	Add +3.3%	0.92%	+0.02
VRTX Vertex Pharmaceuticals Inc.	Add +5.2%	1.75%	+0.02
HXL Hexcel Corp.	Add +11.6%	0.40%	+0.01
ABBV Abbvie Inc.	Add +0.4%	0.11%	+0.01
AMGN Amgen Inc.	Add +24.8%	0.06%	+0.01
XLE SS Energy Select Sector	Add +4.1%	0.09%	+0.01
JNJ Johnson & Johnson	Add +22.3%	0.05%	+0.01
MRK Merck & Co. Inc.	Add +0.1%	0.06%	+0.01
ROP Roper Technologies Inc.	Add +4.5%	1.70%	+0.01
STE Steris PLC	Add +5.3%	1.29%	+0.01

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2025	111	$463.6M	MSFT, LNG, GOOGL, AMJB, ET
Q1 2025	100	$451.0M	LNG, AMJB, ET, AAPL, EPD
Q4 2024	88	$539.7M	GOOGL, AAPL, MSFT, AMJB, ET
Q3 2024	106	$530.4M	MSFT, AAPL, GOOGL, AMJB, SPY
Q2 2024	101	$507.0M	MSFT, GOOGL, AAPL, ENLC, SPY
Q1 2024	111	$489.2M	GOOGL, MSFT, SPY, ENLC, AAPL