New Capital Management LP

Q4 2025 13F-HR Holdings

Location
Houston, TX
Holdings as of
12/31/2025
Date filed
1/20/2026
Form type
13F-HR
Num holdings
55
Total value ($000)
$398,121
Net value change ($000)
+16,380 (4.3%)
New positions
1
Sold out positions
1
Turnover %
1.4%
Sector allocation + QoQ delta (equities-only)
Prev filing: 10/8/2025 Next filing: 4/14/2026 SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
BINC 6,224 138.3%
VGMS 5,210 NEW
GOOGL 4,678 706.6%
DFAX 3,653 5.0%
DFAC 3,060 3.0%
AAPL 1,276 6.4%
EBI 369 3.2%
GOOGL 198 28.8%
PEP 163 2.2%
DFSI 153 2.0%
Top Reduces (Value $000, Stocks/ETFs)
JPST -4,623 -93.4%
TFLO -3,092 -37.6%
BRK-B -1,906 -3.4%
IBIT -1,376 -22.1%
NVDA -898 -14.5%
DFGR -361 -8.4%
IAGG -259 -5.1%
MSFT -255 -6.6%
DUSB -227 -100.0%
JMST -199 -10.1%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type