NBW Capital LLC

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), NBW Capital LLC reported 101 stock positions worth $507.0 million. Its top holding was Microsoft (MSFT) at 4.3% of the portfolio, followed by Alphabet Class A (GOOGL, 3.8%) and Apple (AAPL, 3.6%). Compared with Q1 2024, it opened 11 new positions, sold out of 21, added to 31 and reduced 54. The biggest buy was a new position in Marvell Technology (MRVL) and the biggest sale an exit from Etracs Alerian Infrast Ser B (MLPB).

Most Recent 13F
Q2 2025
Location
BOSTON, MA
CIK
0001512901
Portfolio Value
$507.0M (Q2 2024)
SEC Filing
0001512901-24-000003 ↗ filed Aug 14, 2024

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $489.2M Q1 2024 Q2 2024: $507.0M $507.0M Q2 2024 Q3 2024: $530.4M Q3 2024 Q4 2024: $539.7M Q4 2024 Q1 2025: $451.0M Q1 2025 Q2 2025: $463.6M Q2 2025

Holdings 101 stocks · $507.0M
MSFT Microsoft Corp. 4.29% 48,708 $21.8M Add +0.7%
GOOGL Alphabet Inc. Class A 3.80% 105,872 $19.3M Reduce -24.6%
AAPL Apple Inc. 3.56% 85,681 $18.0M Reduce -0.7%
ENLC Enlink Midstream LLC 2.99% 1,101,894 $15.2M Add +0.3%
SPY SS SPDR S&P 500 ETF Trust-US 2.99% 27,816 $15.1M Reduce -18.2%
ET Energy Transfer LP 2.85% 891,766 $14.5M Reduce -2.9%
WES Western Midstream Partners L 2.37% 302,331 $12.0M Reduce -6.1%
MPLX MPLX LP 2.28% 270,884 $11.5M Reduce -2.4%
WMB Williams Cos Inc. 2.23% 266,104 $11.3M Reduce -1.6%
ADI Analog Devices Inc. 2.08% 46,139 $10.5M Reduce -0.6%
JPM JPMorgan Chase & Co. 2.08% 52,064 $10.5M Reduce -0.5%
VRTX Vertex Pharmaceuticals Inc. 1.88% 20,349 $9.5M Reduce -0.5%
PANW Palo Alto Networks Inc. 1.88% 28,045 $9.5M Add +0.3%
PAA Plains All Amer Pipeline LP 1.81% 513,805 $9.2M Reduce -2.5%
LNG Cheniere Energy Inc. 1.80% 52,237 $9.1M Reduce -0.2%
ROP Roper Technologies Inc. 1.75% 15,763 $8.9M Add +6.2%
GTLS Chart Industries Inc. 1.68% 59,058 $8.5M Add +0.7%
MRVL Marvell Technology Inc. 1.68% 121,934 $8.5M New
BSX Boston Scientific Corp. 1.55% 102,333 $7.9M Reduce -0.3%
IWO iShares Russell 2000 Growth 1.54% 29,645 $7.8M Reduce -2.2%
AM Antero Midstream Corp. 1.51% 518,327 $7.6M Reduce -3.9%
PLMR Palomar Holdings Inc. 1.50% 93,893 $7.6M Reduce -1.4%
HQY Healthequity Inc. 1.50% 88,348 $7.6M Add +2.3%
PATK Patrick Industries Inc. 1.47% 68,653 $7.5M Add +1.8%
EPD Enterprise Products Partners 1.46% 255,800 $7.4M Reduce -0.4%
ITW Illinois Tool Works 1.45% 31,068 $7.4M Add +0.0%
TYL Tyler Technologies Inc. 1.44% 14,491 $7.3M Add +1.1%
AMT American Tower Corp. 1.39% 36,289 $7.1M Add +0.6%
ONEW Onewater Marine Inc. Class A 1.37% 251,841 $6.9M Reduce -0.5%
DSGX The Descartes Systems Grp 1.36% 71,443 $6.9M Reduce -0.1%
HASI Ha Sustainable Infrastructur filed as HANNON ARMSTRONG SUST INFR C 1.34% 228,753 $6.8M Add +27.1%
ABBV Abbvie Inc. 1.31% 38,682 $6.6M Add +1167.8%
BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC 1.28% 73,680 $6.5M Reduce -1.3%
AMJB Alerian MLP ETN2044 filed as JPMORGAN CHASE FINL CO LLC 1.27% 223,196 $6.5M New
STE Steris PLC 1.26% 29,105 $6.4M Add +3.4%
WFC Wells Fargo & Co. 1.25% 106,461 $6.3M Reduce -2.0%
DHR Danaher Corp. 1.22% 24,735 $6.2M Reduce -0.2%
PHM Pultegroup Inc. 1.16% 53,332 $5.9M Reduce -36.4%
Secure Energy Services, Inc. 1.14% 654,034 $5.8M Add +1.4%
MAS Masco Corp. 1.14% 86,339 $5.8M Add +10.8%
BPMC Blueprint Medicines Corp. 1.08% 51,030 $5.5M Add +0.2%
GLD SPDR Gold Shares 1.04% 24,497 $5.3M Reduce -1.2%
MCD McDonald's Corp. 1.02% 20,366 $5.2M Add +1.8%
PAGP Plains GP Holdings LP 0.99% 267,168 $5.0M Reduce -10.4%
MA Mastercard Inc. Class A 0.99% 11,349 $5.0M Reduce -0.8%
EA Electronic Arts Inc. 0.98% 35,617 $5.0M Add +2.0%
INDA iShares MSCI India ETF 0.95% 86,509 $4.8M Reduce -0.5%
NKE Nike Inc. Class B 0.95% 63,614 $4.8M Add +33.8%
AROC Archrock Inc. 0.94% 236,644 $4.8M Reduce -28.8%
V Visa Inc. Class A 0.93% 18,030 $4.7M Reduce -0.1%
RGEN Repligen Corp. 0.90% 36,067 $4.5M Add +7.3%
UNH Unitedhealth Group Inc. 0.89% 8,832 $4.5M Add +2.6%
CDNS Cadence Design SYS Inc. 0.85% 13,965 $4.3M New
EIDO iShares MSCI Indonesia ETF 0.85% 222,500 $4.3M Reduce -0.7%
MDY State Street SPDR S&P Midcap 0.84% 7,961 $4.3M New
WM Waste Management Inc. 0.83% 19,770 $4.2M Add +4.2%
ORLY O'reilly Automotive Inc. 0.83% 3,987 $4.2M Add +2.5%
RJF Raymond James Financial Inc. 0.82% 33,760 $4.2M Reduce -0.3%
NOC Northrop Grumman Corp. 0.75% 8,779 $3.8M Add +1.0%
ATI Ati Inc. 0.73% 66,857 $3.7M Reduce -1.2%
CIVI Civitas Resources Inc. 0.71% 52,423 $3.6M Add +10.1%
HESM Hess Midstream LP Class A 0.66% 91,920 $3.3M Reduce -5.9%
MBUU Malibu Boats Inc. Class A 0.66% 94,918 $3.3M Reduce -1.5%
ETRN Equitrans Midstream Corp. 0.60% 234,502 $3.0M Reduce -18.8%
FTV Fortive Corp. 0.58% 39,687 $2.9M Reduce -0.9%
SONO Sonos Inc. 0.53% 180,430 $2.7M Add +17.8%
FOXF Fox Factory Holding Corp. 0.48% 50,027 $2.4M Reduce -4.2%
NGL NGL Energy Partners LP 0.45% 451,947 $2.3M Add +3.0%
SUM Summit Materials Inc. Class A 0.38% 52,918 $1.9M New
ROCK Gibraltar Industries Inc. 0.35% 26,232 $1.8M Add +0.3%
HXL Hexcel Corp. 0.34% 27,246 $1.7M Add +1.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.31% 39,906 $1.6M Reduce -7.8%
IWM iShares Russell 2000 ETF 0.18% 4,464 $906K Add +21.7%
SYRE Spyre Therapeutics Inc. 0.16% 34,360 $808K No change
LLY Eli Lilly & Co. 0.14% 782 $708K Reduce -10.7%
VLTO Veralto Corp. 0.14% 7,281 $695K Add +0.2%
SPYG SS SPDR P S&P 500 Growth ETF 0.11% 6,997 $561K No change
KMI Kinder Morgan Inc. 0.08% 21,008 $417K Reduce -5.0%
XLE SS Energy Select Sector 0.07% 4,083 $372K Reduce -11.3%
AMGN Amgen Inc. 0.06% 1,003 $313K Reduce -5.9%
OKE Oneok Inc. 0.06% 3,780 $308K No change
NVDA Nvidia Corp. 0.06% 2,300 $284K New
PEP Pepsico Inc. 0.05% 1,682 $277K Reduce -21.4%
HD Home Depot Inc. 0.05% 777 $267K New
META Meta Platforms Inc. Class A 0.05% 527 $266K New
SO The Southern Co. 0.05% 3,195 $248K Reduce -10.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.05% 1,382 $239K Reduce -28.4%
MS Morgan Stanley 0.05% 2,419 $235K Reduce -4.5%
WELL Welltower Inc. 0.05% 2,255 $235K Reduce -12.9%
COP Conocophillips 0.04% 1,964 $225K New
IVV iShares Core S&P 500 ETF 0.04% 407 $223K Reduce -28.9%
TXN Texas Instruments Inc. 0.04% 1,136 $221K Reduce -17.5%
GS Goldman Sachs Group Inc. 0.04% 482 $218K Reduce -21.5%
IWR iShares Russell Mid-Cap ETF 0.04% 2,671 $217K No change
DUK Duke Energy Corp. 0.04% 2,107 $211K Reduce -13.7%
GOOG Alphabet Inc. Class C 0.04% 1,147 $210K New
KO The Coca-Cola Co. 0.04% 3,235 $206K Reduce -17.9%
NEE Nextera Energy Inc. 0.04% 2,893 $205K Reduce -27.4%
PSA Public Storage 0.04% 712 $205K Reduce -1.7%
RTX RTX Corp. 0.04% 2,026 $203K New
MRMD Marimed Inc. 0.00% 22,700 $4K No change

Portfolio Sells Q1 2024 → Q2 2024
MLPB Etracs Alerian Infrast Ser B Sold out 0.00% −1.15
PHM Pultegroup Inc. Reduce -36.4% 1.16% −0.91
SPY SS SPDR S&P 500 ETF Trust-US Reduce -18.2% 2.99% −0.65
GOOGL Alphabet Inc. Class A Reduce -24.6% 3.80% −0.53
AROC Archrock Inc. Reduce -28.8% 0.94% −0.39
AMJ JPMorgan Alerian MLP Index Sold out 0.00% −0.20
MBUU Malibu Boats Inc. Class A Reduce -1.5% 0.66% −0.20
EIDO iShares MSCI Indonesia ETF Reduce -0.7% 0.85% −0.19
IWO iShares Russell 2000 Growth Reduce -2.2% 1.54% −0.14
MA Mastercard Inc. Class A Reduce -0.8% 0.99% −0.14
ETRN Equitrans Midstream Corp. Reduce -18.8% 0.60% −0.14
PLMR Palomar Holdings Inc. Reduce -1.4% 1.50% −0.13
FTV Fortive Corp. Reduce -0.9% 0.58% −0.12
PAGP Plains GP Holdings LP Reduce -10.4% 0.99% −0.12
ET Energy Transfer LP Reduce -2.9% 2.85% −0.10
V Visa Inc. Class A Reduce -0.1% 0.93% −0.10
ONEW Onewater Marine Inc. Class A Reduce -0.5% 1.37% −0.09
MPLX MPLX LP Reduce -2.4% 2.28% −0.08
PAA Plains All Amer Pipeline LP Reduce -2.5% 1.81% −0.08
FOXF Fox Factory Holding Corp. Reduce -4.2% 0.48% −0.08
EPD Enterprise Products Partners Reduce -0.4% 1.46% −0.07
RJF Raymond James Financial Inc. Reduce -0.3% 0.82% −0.07
JPM JPMorgan Chase & Co. Reduce -0.5% 2.08% −0.06
DFAC Dimensional US Core Equity 2 Sold out 0.00% −0.06
QQQ Invesco QQQ Trust Series 1 Sold out 0.00% −0.06
HESM Hess Midstream LP Class A Reduce -5.9% 0.66% −0.06
MRK Merck & Co. Inc. Sold out 0.00% −0.06
PG The Procter & Gamble Co. Sold out 0.00% −0.06
TGT Target Corp. Sold out 0.00% −0.05
PSX Phillips 66 Sold out 0.00% −0.05
JNJ Johnson & Johnson Sold out 0.00% −0.05
VZ Verizon Communications Inc. Sold out 0.00% −0.05
MDT Medtronic Inc Sold out 0.00% −0.05
MO Altria Group Inc. Sold out 0.00% −0.05
CSCO Cisco Systems Inc. Sold out 0.00% −0.05
BLK BlackRock Finance Inc. Sold out 0.00% −0.05
T AT&T Inc. Sold out 0.00% −0.05
LMT Lockheed Martin Corp. Sold out 0.00% −0.05
PLD Prologis Inc. Sold out 0.00% −0.05
CVS CVS Health Corp. Sold out 0.00% −0.05
DHR Danaher Corp. Reduce -0.2% 1.22% −0.05
PM Philip Morris International Sold out 0.00% −0.04
CVX Chevron Corp. Sold out 0.00% −0.04
AM Antero Midstream Corp. Reduce -3.9% 1.51% −0.04
XOM Exxon Mobil Corp. Sold out 0.00% −0.04
WFC Wells Fargo & Co. Reduce -2.0% 1.25% −0.04
IBM Intl Business Machines Corp. Reduce -28.4% 0.05% −0.03
BAC Bank of America Corp. Reduce -7.8% 0.31% −0.02
PEP Pepsico Inc. Reduce -21.4% 0.05% −0.02
IVV iShares Core S&P 500 ETF Reduce -28.9% 0.04% −0.02

Portfolio Buys Q1 2024 → Q2 2024
MRVL Marvell Technology Inc. New 1.68% +1.68
AMJB Alerian MLP ETN2044 New 1.27% +1.27
ABBV Abbvie Inc. Add +1167.8% 1.31% +1.20
CDNS Cadence Design SYS Inc. New 0.85% +0.85
MDY State Street SPDR S&P Midcap New 0.84% +0.84
SUM Summit Materials Inc. Class A New 0.38% +0.38
HASI Ha Sustainable Infrastructur Add +27.1% 1.34% +0.29
PANW Palo Alto Networks Inc. Add +0.3% 1.88% +0.25
TYL Tyler Technologies Inc. Add +1.1% 1.44% +0.19
MSFT Microsoft Corp. Add +0.7% 4.29% +0.13
BPMC Blueprint Medicines Corp. Add +0.2% 1.08% +0.10
HQY Healthequity Inc. Add +2.3% 1.50% +0.06
Secure Energy Services, Inc. Add +1.4% 1.14% +0.06
NVDA Nvidia Corp. New 0.06% +0.06
HD Home Depot Inc. New 0.05% +0.05
META Meta Platforms Inc. Class A New 0.05% +0.05
ROP Roper Technologies Inc. Add +6.2% 1.75% +0.05
COP Conocophillips New 0.04% +0.04
GOOG Alphabet Inc. Class C New 0.04% +0.04
RTX RTX Corp. New 0.04% +0.04
NKE Nike Inc. Class B Add +33.8% 0.95% +0.03
EA Electronic Arts Inc. Add +2.0% 0.98% +0.03
IWM iShares Russell 2000 ETF Add +21.7% 0.18% +0.02
UNH Unitedhealth Group Inc. Add +2.6% 0.89% +0.02
VLTO Veralto Corp. Add +0.2% 0.14% +0.01
WM Waste Management Inc. Add +4.2% 0.83% +0.01
CIVI Civitas Resources Inc. Add +10.1% 0.71% −0.03
STE Steris PLC Add +3.4% 1.26% −0.03
HXL Hexcel Corp. Add +1.1% 0.34% −0.07
NGL NGL Energy Partners LP Add +3.0% 0.45% −0.07
AMT American Tower Corp. Add +0.6% 1.39% −0.07
ORLY O'reilly Automotive Inc. Add +2.5% 0.83% −0.07
SONO Sonos Inc. Add +17.8% 0.53% −0.07
ENLC Enlink Midstream LLC Add +0.3% 2.99% −0.07
ROCK Gibraltar Industries Inc. Add +0.3% 0.35% −0.08
NOC Northrop Grumman Corp. Add +1.0% 0.75% −0.10
MAS Masco Corp. Add +10.8% 1.14% −0.12
MCD McDonald's Corp. Add +1.8% 1.02% −0.13
PATK Patrick Industries Inc. Add +1.8% 1.47% −0.18
ITW Illinois Tool Works Add +0.0% 1.45% −0.25
GTLS Chart Industries Inc. Add +0.7% 1.68% −0.29
RGEN Repligen Corp. Add +7.3% 0.90% −0.37

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2025 111$463.6MMSFT, LNG, GOOGL, AMJB, ET
Q1 2025 100$451.0MLNG, AMJB, ET, AAPL, EPD
Q4 2024 88$539.7MGOOGL, AAPL, MSFT, AMJB, ET
Q3 2024 106$530.4MMSFT, AAPL, GOOGL, AMJB, SPY
Q2 2024 101$507.0MMSFT, GOOGL, AAPL, ENLC, SPY
Q1 2024 111$489.2MGOOGL, MSFT, SPY, ENLC, AAPL