New Capital Management LP

CIK 0001696731 · Q2 2026

13F Equity AUM

$439.0M

+8.2% QoQ

Positions

+1 QoQ

AUM Rank

#5,337

Top 43%

Skill Alpha (FF)

-3.0%/yr^ns

No Clear Edge

Rank #6,840 · Top 82%

vs S&P -7.8%/yr (unadj.)

Quarters Tracked

~9 years

Portfolio Concentration

Top 5: 66.7%Top 10: 77.6%Top 20: 89.4%

DFAC26.0%

DFAX20.2%

BRK/B12.2%

AAPL5.1%

EBI3.2%

DFSU2.6%

BINC2.6%

IUSB2.1%

DFSI1.9%

IAGG1.8%

Others (50)22.4%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services85.5%

Technology7.3%

Communication Services2.1%

Other5.2%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 60Median: 0.28%Avg: 1.67%

0–0.5%

32(4.2%)

0.5–1%

11(9.3%)

1–3%

12(19.9%)

3–5%

1(3.2%)

5%+

4(63.5%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 60vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New2Increased32Decreased11Exited1

New Positions

IWB0.1%

+622

IWF0.1%

+2K

Increased

DFAX20.2%

+22K(+1%)

DFAC26.0%

+13K(+0%)

IUSB2.1%

+3K(+2%)

IAU*0.8%

+3K(+7%)

BINC2.6%

+3K(+1%)

DFGR1.3%

+2K(+1%)

IAGG1.8%

+1K(+1%)

VGMS1.0%

+989(+1%)

GHYG0.9%

+951(+1%)

JBND1.0%

+923(+1%)

Decreased

IBIT0.9%

-2,136(-2%)

VUSB0.1%

-2,124(-25%)

ICSH0.1%

-2,082(-26%)

TFLO1.1%

-1,974(-2%)

SGOV0.1%

-1,083(-34%)

DFSE0.8%

-443(-1%)

DFSI1.9%

-159(-0%)

AAPL5.1%

-115(-0%)

BRK/B12.2%

-42(-0%)

GOOG1.4%

-37(-0%)

Exited

NEAR

-4,117

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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