Northern Capital Management, Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 29, 2025), Northern Capital Management, Inc. reported 44 stock positions worth $170.0 million. Its top holding was Schwab US Large-Cap Growth (SCHG) at 31.0% of the portfolio, followed by Invesco QQQ Trust Series 1 (QQQ, 18.8%) and Schwab US Large-Cap Value (SCHV, 18.7%). Compared with Q1 2025, it opened 3 new positions, sold out of 2, added to 19 and reduced 9. The biggest buy was SS SPDR P S&P 500 Value ETF (SPYV, shares +121%) and the biggest sale Schwab US Large-Cap Value (SCHV, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- SPOKANE, WA
- CIK
- 0001581794
- Portfolio Value
- $170.0M (Q2 2025)
- SEC Filing
- 0001581794-25-000010 ↗ filed Jul 29, 2025
Holdings Value
Holdings 44 stocks · $170.0M
| SCHG Schwab US Large-Cap Growth | 31.04% | 1,806,661 | $52.8M | Reduce -1.8% |
| QQQ Invesco QQQ Trust Series 1 | 18.75% | 57,800 | $31.9M | Reduce -1.5% |
| SCHV Schwab US Large-Cap Value | 18.70% | 1,148,887 | $31.8M | Reduce -2.3% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 8.95% | 53,310 | $15.2M | Add +2.8% |
| SCHM Schwab US Mid Cap ETF | 3.43% | 208,079 | $5.8M | Reduce -2.5% |
| MSFT Microsoft Corp. | 2.05% | 7,015 | $3.5M | Add +0.2% |
| JNJ Johnson & Johnson | 1.80% | 19,988 | $3.1M | No change |
| AAPL Apple Inc. | 1.65% | 13,711 | $2.8M | Add +2.8% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 1.43% | 8,661 | $2.4M | Add +3.8% |
| AMZN Amazon.com Inc. | 0.95% | 7,384 | $1.6M | Add +0.1% |
| FIBK First Interstate Bancsys-A | 0.88% | 51,821 | $1.5M | Add +0.6% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.78% | 3,023 | $1.3M | No change |
| SPYV SS SPDR P S&P 500 Value ETF | 0.76% | 24,844 | $1.3M | Add +120.9% |
| COST Costco Wholesale Corp. | 0.66% | 1,134 | $1.1M | Add +0.1% |
| NVDA Nvidia Corp. | 0.56% | 6,055 | $957K | Reduce -5.5% |
| VTI VG Morningstar TS MKT ETF-US | 0.55% | 3,093 | $940K | Reduce -8.1% |
| VOO Vanguard S&P 500 ETF | 0.55% | 1,654 | $940K | Add +13.9% |
| SCHB Schwab US Broad Market ETF | 0.54% | 38,475 | $917K | Add +2.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.49% | 1,703 | $827K | Add +2.8% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 0.44% | 13,764 | $748K | Add +4.1% |
| GOOG Alphabet Inc. Class C | 0.40% | 3,857 | $684K | Add +5.7% |
| AON Aon PLC Class A | 0.35% | 1,688 | $602K | No change |
| CVX Chevron Corp. | 0.32% | 3,810 | $545K | Reduce -0.4% |
| NEE Nextera Energy Inc. | 0.32% | 7,729 | $537K | No change |
| META Meta Platforms Inc. Class A | 0.28% | 655 | $484K | Add +0.1% |
| VEU Vanguard Ftse All-World Ex-U | 0.28% | 7,148 | $480K | No change |
| XOM Exxon Mobil Corp. | 0.26% | 4,085 | $440K | Reduce -0.3% |
| VNQ Vanguard Real Estate ETF | 0.25% | 4,788 | $426K | No change |
| JPM JPMorgan Chase & Co. | 0.24% | 1,391 | $403K | Add +0.4% |
| SBUX Starbucks Corp. | 0.22% | 4,127 | $378K | No change |
| BA The Boeing Co. | 0.21% | 1,694 | $355K | Reduce -3.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.20% | 1,160 | $342K | Add +0.3% |
| IMCG iShares Morningstar Mid-Cap | 0.18% | 3,880 | $311K | No change |
| ABBV Abbvie Inc. | 0.15% | 1,372 | $255K | No change |
| CEF Sprott Physical Gold and Sil | 0.15% | 8,380 | $252K | No change |
| GOOGL Alphabet Inc. Class A | 0.15% | 1,410 | $249K | Add +0.1% |
| WFC Wells Fargo & Co. | 0.15% | 3,090 | $248K | Add +0.2% |
| USXF iShares ESG Advance MSCI USA | 0.14% | 4,455 | $240K | No change |
| EPD Enterprise Products Partners | 0.14% | 7,440 | $231K | Add +0.2% |
| ITOT iShares Core S&P Total U.S. | 0.13% | 1,696 | $229K | No change |
| DLN Wisdomtree US Largecap Divid | 0.13% | 2,714 | $223K | No change |
| AVGO Broadcom Inc. | 0.13% | 802 | $221K | New |
| GLD SPDR Gold Shares | 0.12% | 680 | $207K | New |
| CMI Cummins Inc. | 0.12% | 611 | $200K | New |
Portfolio Sells Q1 2025 → Q2 2025
| SCHV Schwab US Large-Cap Value | Reduce -2.3% | 18.70% | −1.68 |
| SCHM Schwab US Mid Cap ETF | Reduce -2.5% | 3.43% | −0.21 |
| COP Conocophillips | Sold out | 0.00% | −0.14 |
| MCD McDonald's Corp. | Sold out | 0.00% | −0.13 |
| CVX Chevron Corp. | Reduce -0.4% | 0.32% | −0.10 |
| XOM Exxon Mobil Corp. | Reduce -0.3% | 0.26% | −0.06 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -8.1% | 0.55% | −0.05 |
| BA The Boeing Co. | Reduce -3.7% | 0.21% | +0.01 |
| NVDA Nvidia Corp. | Reduce -5.5% | 0.56% | +0.11 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -1.5% | 18.75% | +0.82 |
| SCHG Schwab US Large-Cap Growth | Reduce -1.8% | 31.04% | +1.01 |
Portfolio Buys Q1 2025 → Q2 2025
| SPYV SS SPDR P S&P 500 Value ETF | Add +120.9% | 0.76% | +0.39 |
| MSFT Microsoft Corp. | Add +0.2% | 2.05% | +0.34 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Add +2.8% | 8.95% | +0.25 |
| AVGO Broadcom Inc. | New | 0.13% | +0.13 |
| GLD SPDR Gold Shares | New | 0.12% | +0.12 |
| CMI Cummins Inc. | New | 0.12% | +0.12 |
| VOO Vanguard S&P 500 ETF | Add +13.9% | 0.55% | +0.07 |
| META Meta Platforms Inc. Class A | Add +0.1% | 0.28% | +0.04 |
| AMZN Amazon.com Inc. | Add +0.1% | 0.95% | +0.04 |
| GOOG Alphabet Inc. Class C | Add +5.7% | 0.40% | +0.03 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +3.8% | 1.43% | +0.02 |
| JPM JPMorgan Chase & Co. | Add +0.4% | 0.24% | +0.02 |
| IBM Intl Business Machines Corp. | Add +0.3% | 0.20% | +0.01 |
| SCHB Schwab US Broad Market ETF | Add +2.1% | 0.54% | +0.01 |
| GOOGL Alphabet Inc. Class A | Add +0.1% | 0.15% | +0.00 |
| WFC Wells Fargo & Co. | Add +0.2% | 0.15% | +0.00 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Add +4.1% | 0.44% | −0.00 |
| EPD Enterprise Products Partners | Add +0.2% | 0.14% | −0.03 |
| COST Costco Wholesale Corp. | Add +0.1% | 0.66% | −0.04 |
| FIBK First Interstate Bancsys-A | Add +0.6% | 0.88% | −0.08 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +2.8% | 0.49% | −0.09 |
| AAPL Apple Inc. | Add +2.8% | 1.65% | −0.28 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 55 | $234.5M | SCHG, SCHV, QQQ, VV, SPYV |
| Q1 2026 | 51 | $199.5M | SCHG, SCHV, QQQ, SPYV, VV |
| Q4 2025 | 52 | $189.3M | SCHG, QQQ, SCHV, VV, GBCI |
| Q3 2025 | 46 | $184.3M | SCHG, QQQ, SCHV, VV, GBCI |
| Q2 2025 | 44 | $170.0M | SCHG, QQQ, SCHV, VV, SCHM |
| Q1 2025 | 43 | $153.4M | SCHG, SCHV, QQQ, VV, SCHM |
| Q4 2024 | 40 | $163.1M | SCHG, SCHV, QQQ, VV, SCHM |
| Q3 2024 | 41 | $158.3M | SCHG, SCHV, QQQ, VV, SCHM |
| Q2 2024 | 39 | $149.8M | SCHG, SCHV, QQQ, VV, SCHM |
| Q1 2024 | 37 | $143.3M | SCHG, SCHV, QQQ, VV, SCHM |