New Capital Management LP
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 13, 2025), New Capital Management LP reported 51 stock positions worth $342.0 million. Its top holding was Dimensional US Core Equity 2 (DFAC) at 29.9% of the portfolio, followed by Dimensional World Ex US Core (DFAX, 15.9%) and Berkshire Hathaway Class B (BRK.B, 14.2%). Compared with Q3 2024, it opened 2 new positions, sold out of 3, added to 14 and reduced 18. The biggest buy was Dimensional US Sus CORE1 ETF (DFSU, shares +8%) and the biggest sale Berkshire Hathaway Class B (BRK.B, shares −12%).
- Most Recent 13F
- Q2 2026
- Location
- HOUSTON, TX
- CIK
- 0001696731
- Portfolio Value
- $342.0M (Q4 2024)
- SEC Filing
- 0001696731-25-000001 ↗ filed Jan 13, 2025
Holdings Value
Holdings 51 stocks · $342.0M
| DFAC Dimensional US Core Equity 2 | 29.92% | 2,957,919 | $102.3M | Reduce -0.0% |
| DFAX Dimensional World Ex US Core | 15.92% | 2,190,118 | $54.4M | Reduce -0.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 14.19% | 107,054 | $48.5M | Reduce -11.6% |
| AAPL Apple Inc. | 6.05% | 82,621 | $20.7M | Reduce -0.8% |
| DFSU Dimensional US Sus CORE1 ETF | 3.76% | 339,573 | $12.9M | Add +8.2% |
| AGG iShares Core U.S. Aggregate | 3.75% | 132,214 | $12.8M | Add +0.5% |
| STIP iShares 0-5 Year Tips Bond E | 3.12% | 106,170 | $10.7M | Reduce -2.4% |
| DFCF Dimensional Core Fixed Inc. | 2.91% | 241,087 | $9.9M | Reduce -0.1% |
| PEP Pepsico Inc. | 2.59% | 58,170 | $8.8M | Reduce -0.2% |
| DFGR Dim Global Real Estate ETF | 2.29% | 306,745 | $7.8M | Add +0.7% |
| IAGG iShares Intl Aggregate Bond | 1.89% | 129,319 | $6.5M | Add +0.5% |
| DFSI Dimensional Int Sus COR1 ETF | 1.47% | 153,341 | $5.0M | Add +9.5% |
| TFLO iShares Treasury Floating Ra | 1.26% | 85,535 | $4.3M | Add +0.6% |
| MSFT Microsoft Corp. | 0.99% | 8,014 | $3.4M | Reduce -3.1% |
| SHV iShares 0-1 Year Treasury Bo | 0.95% | 29,478 | $3.2M | Reduce -0.3% |
| SHY iShares 1-3 Year Treasury Bo | 0.86% | 35,924 | $2.9M | Reduce -0.6% |
| BSV Vanguard Short-Term Bond ETF | 0.85% | 37,775 | $2.9M | Add +0.5% |
| DFSE Dimensional Em Sus CORE1 ETF | 0.60% | 62,209 | $2.1M | Add +7.6% |
| VUSB Vanguard Ultra Short Bond Et | 0.57% | 39,460 | $2.0M | Reduce -0.7% |
| AMZN Amazon.com Inc. | 0.52% | 8,173 | $1.8M | Add +0.0% |
| JPST JPMorgan Ultra-Short Income | 0.46% | 31,198 | $1.6M | Reduce -2.8% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 0.41% | 27,700 | $1.4M | Reduce -0.2% |
| KIM Kimco Realty Corp. | 0.40% | 58,320 | $1.4M | No change |
| VT Vanguard Tot World STK ETF | 0.37% | 10,765 | $1.3M | Add +2.0% |
| YUM Yum! Brands Inc. | 0.34% | 8,662 | $1.2M | No change |
| MA Mastercard Inc. Class A | 0.33% | 2,142 | $1.1M | No change |
| META Meta Platforms Inc. Class A | 0.28% | 1,618 | $947K | Add +0.6% |
| COST Costco Wholesale Corp. | 0.24% | 884 | $810K | No change |
| NFLX Netflix Inc. | 0.19% | 738 | $658K | No change |
| GOOG Alphabet Inc. Class C | 0.17% | 3,060 | $583K | No change |
| GOOGL Alphabet Inc. Class A | 0.17% | 3,064 | $580K | No change |
| ICSH iShares Ultra Short Duration | 0.17% | 11,473 | $579K | Reduce -0.5% |
| ACWI iShares MSCI Acwi ETF | 0.16% | 4,674 | $549K | Add +0.5% |
| ABBV Abbvie Inc. | 0.16% | 3,000 | $533K | No change |
| AOR iShares Core 60/40 Balanced | 0.15% | 8,958 | $513K | Reduce -2.1% |
| XOM Exxon Mobil Corp. | 0.14% | 4,605 | $495K | Reduce -7.4% |
| SGOV iShares 0-3 Month Treasury B | 0.14% | 4,778 | $479K | Add +0.0% |
| QQQ Invesco QQQ Trust Series 1 | 0.14% | 910 | $465K | Reduce -1.3% |
| VOO Vanguard S&P 500 ETF | 0.13% | 852 | $459K | Reduce -1.6% |
| AVGO Broadcom Inc. | 0.13% | 1,852 | $429K | New |
| YUMC Yum China Holdings Inc. | 0.12% | 8,853 | $426K | No change |
| MELI MercadoLibre Inc. | 0.10% | 200 | $340K | No change |
| HD Home Depot Inc. | 0.09% | 779 | $303K | No change |
| NEAR iShares SH Dba ETF Usd Inc. | 0.08% | 5,596 | $283K | Add +0.3% |
| AON Aon PLC Class A | 0.08% | 741 | $266K | No change |
| AOA iShares Core 80/20 Aggressiv | 0.08% | 3,470 | $266K | No change |
| SHYM iShares Short Duration High | 0.07% | 11,160 | $253K | No change |
| TMO Thermo Fisher Scientific Inc. | 0.07% | 433 | $225K | No change |
| IVV iShares Core S&P 500 ETF | 0.06% | 356 | $210K | New |
| CSX CSX Corp. | 0.06% | 6,453 | $208K | No change |
| WBD Warner Bros Discovery Inc. | 0.04% | 12,700 | $134K | No change |
Portfolio Sells Q3 2024 → Q4 2024
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -11.6% | 14.19% | −1.54 |
| DFAX Dimensional World Ex US Core | Reduce -0.2% | 15.92% | −0.81 |
| PEP Pepsico Inc. | Reduce -0.2% | 2.59% | −0.21 |
| EEM iShares MSCI Emerging Market | Sold out | 0.00% | −0.08 |
| AZO AutoZone Inc. | Sold out | 0.00% | −0.07 |
| CBT Cabot Corp. | Sold out | 0.00% | −0.06 |
| DFCF Dimensional Core Fixed Inc. | Reduce -0.1% | 2.91% | −0.03 |
| XOM Exxon Mobil Corp. | Reduce -7.4% | 0.14% | −0.02 |
| MSFT Microsoft Corp. | Reduce -3.1% | 0.99% | −0.02 |
| AOR iShares Core 60/40 Balanced | Reduce -2.1% | 0.15% | −0.00 |
| JPST JPMorgan Ultra-Short Income | Reduce -2.8% | 0.46% | −0.00 |
| ICSH iShares Ultra Short Duration | Reduce -0.5% | 0.17% | +0.00 |
| VOO Vanguard S&P 500 ETF | Reduce -1.6% | 0.13% | +0.01 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -1.3% | 0.14% | +0.01 |
| JMST JPM Ultra-Short Muni Income | Reduce -0.2% | 0.41% | +0.01 |
| VUSB Vanguard Ultra Short Bond Et | Reduce -0.7% | 0.57% | +0.01 |
| STIP iShares 0-5 Year Tips Bond E | Reduce -2.4% | 3.12% | +0.01 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -0.6% | 0.86% | +0.01 |
| SHV iShares 0-1 Year Treasury Bo | Reduce -0.3% | 0.95% | +0.03 |
| AAPL Apple Inc. | Reduce -0.8% | 6.05% | +0.57 |
| DFAC Dimensional US Core Equity 2 | Reduce -0.0% | 29.92% | +1.28 |
Portfolio Buys Q3 2024 → Q4 2024
| DFSU Dimensional US Sus CORE1 ETF | Add +8.2% | 3.76% | +0.47 |
| AVGO Broadcom Inc. | New | 0.13% | +0.13 |
| AMZN Amazon.com Inc. | Add +0.0% | 0.52% | +0.09 |
| IVV iShares Core S&P 500 ETF | New | 0.06% | +0.06 |
| DFSI Dimensional Int Sus COR1 ETF | Add +9.5% | 1.47% | +0.06 |
| TFLO iShares Treasury Floating Ra | Add +0.6% | 1.26% | +0.05 |
| DFSE Dimensional Em Sus CORE1 ETF | Add +7.6% | 0.60% | +0.02 |
| BSV Vanguard Short-Term Bond ETF | Add +0.5% | 0.85% | +0.02 |
| META Meta Platforms Inc. Class A | Add +0.6% | 0.28% | +0.02 |
| VT Vanguard Tot World STK ETF | Add +2.0% | 0.37% | +0.01 |
| IAGG iShares Intl Aggregate Bond | Add +0.5% | 1.89% | +0.01 |
| SGOV iShares 0-3 Month Treasury B | Add +0.0% | 0.14% | +0.00 |
| ACWI iShares MSCI Acwi ETF | Add +0.5% | 0.16% | +0.00 |
| NEAR iShares SH Dba ETF Usd Inc. | Add +0.3% | 0.08% | +0.00 |
| AGG iShares Core U.S. Aggregate | Add +0.5% | 3.75% | −0.01 |
| DFGR Dim Global Real Estate ETF | Add +0.7% | 2.29% | −0.19 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 60 | $439.0M | DFAC, DFAX, BRK.B, AAPL, EBI |
| Q1 2026 | 59 | $405.7M | DFAC, DFAX, BRK.B, AAPL, EBI |
| Q4 2025 | 55 | $398.1M | DFAC, DFAX, BRK.B, AAPL, EBI |
| Q3 2025 | 54 | $381.7M | DFAC, DFAX, BRK.B, AAPL, EBI |
| Q2 2025 | 56 | $358.3M | DFAC, DFAX, BRK.B, AAPL, EBI |
| Q1 2025 | 50 | $348.5M | DFAC, BRK.B, DFAX, AAPL, BINC |
| Q4 2024 | 51 | $342.0M | DFAC, DFAX, BRK.B, AAPL, DFSU |
| Q3 2024 | 52 | $354.3M | DFAC, DFAX, BRK.B, AAPL, AGG |
| Q2 2024 | 54 | $325.9M | DFAC, DFAX, BRK.B, AAPL, AGG |
| Q1 2024 | 57 | $334.9M | DFAC, DFAX, BRK.B, AGG, AAPL |