Northern Capital Management, Inc.
Long book
$199.5M
Q1 2026
Positions
51
Top-10 weight
89%
concentration
Last quarter
+16.0%
SPY +14.8%
Turnover
9%
of book per quarter
Strategy in plain words
auto-generated from filingsNorthern Capital Management, Inc. is a wealth-management firm allocating client money, running a $199.5M US long book across 51 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: SCHWAB US LARGE-CAP GROWTH, SCHWAB US LARGE-CAP VALUE, INVESCO QQQ TRUST SERIES 1, SS SPDR P S&P 500 VALUE ETF, VANGUARD LARGE-CAP ETF.
Over the last 9 quarters its long book ran on average 0.2pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+4.7%
Q2 2024
+5.0%
Q3 2024
+3.2%
Q4 2024
-5.3%
Q1 2025
+11.6%
Q2 2025
+8.5%
Q3 2025
+2.4%
Q4 2025
-4.4%
Q1 2026
+16.0%
Sector allocation
Technology 34%
Financials 25%
Healthcare 18%
Consumer discretionary 11%
Energy 6%
Industrials 4%
Services media 1%
Utilities 1%
Long book by quarter
What does Northern Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| JNJ JOHNSON & JOHNSON | Healthcare | 20.0K | $4.9M | 2.5% | 0.0% |
| GBCI GLACIER BANCORP INC | Financials | 87.2K | $3.9M | 2.0% | -29.4% |
| AAPL APPLE INC | Technology | 13.8K | $3.5M | 1.8% | -0.2% |
| MSFT MICROSOFT CORP | Technology | 7.8K | $2.9M | 1.5% | +0.7% |
| FIBK FIRST INTERSTATE BANCSYS-A | Financials | 51.3K | $1.7M | 0.9% | -1.5% |
| AMZN AMAZON.COM INC | Consumer discretionary | 8.1K | $1.7M | 0.8% | +6.7% |
| NVDA NVIDIA CORP | Technology | 7.3K | $1.3M | 0.6% | +2.8% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 1.2K | $1.2M | 0.6% | +3.4% |
| GOOG ALPHABET INC-CL C | Technology | 4.0K | $1.2M | 0.6% | -0.1% |
| CVX CHEVRON CORP | Energy | 3.8K | $791K | 0.4% | Held |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 1.6K | $785K | 0.4% | -2.3% |
| XOM EXXON MOBIL CORP | Energy | 4.1K | $701K | 0.4% | +0.1% |
| AON AON PLC-CLASS A | Financials | 1.7K | $545K | 0.3% | Held |
| GOOGL ALPHABET INC-CL A | Technology | 1.7K | $493K | 0.2% | Held |
| JPM JPMORGAN CHASE & CO | Financials | 1.4K | $413K | 0.2% | Held |
| SBUX STARBUCKS CORP | Consumer discretionary | 4.4K | $398K | 0.2% | Held |
| BA BOEING CO/THE | Industrials | 2.0K | $396K | 0.2% | +13.2% |
| META META PLATFORMS INC-CLASS A | Technology | 671 | $384K | 0.2% | +1.4% |
| ABBV ABBVIE INC | Healthcare | 1.7K | $364K | 0.2% | Held |
| CMI CUMMINS INC | Industrials | 612 | $329K | 0.2% | Held |
| AVGO BROADCOM INC | Technology | 1.1K | $327K | 0.2% | +0.6% |
| V VISA INC-CLASS A SHARES | Services media | 1.0K | $303K | 0.2% | Held |
| CAT CATERPILLAR INC | Industrials | 406 | $288K | 0.1% | Held |
| EPD ENTERPRISE PRODUCTS PARTNERS | Utilities | 7.5K | $283K | 0.1% | +0.2% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 1.2K | $282K | 0.1% | +0.1% |
| COP CONOCOPHILLIPS | Energy | 2.0K | $261K | 0.1% | New |
| ASML ASML HOLDING NV-NY REG SHS | Industrials | 192 | $254K | 0.1% | Held |
| WFC WELLS FARGO & CO | Financials | 3.1K | $246K | 0.1% | Held |
| MU MICRON TECHNOLOGY INC | Technology | 702 | $237K | 0.1% | Held |
| UNH UNITEDHEALTH GROUP INC | Financials | 850 | $230K | 0.1% | +38.2% |
| LLY ELI LILLY & CO | Healthcare | 238 | $219K | 0.1% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 13, 2026 | 51 | $199.5M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 3, 2026 | 52 | $189.3M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 6, 2025 | 46 | $184.3M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 29, 2025 | 44 | $170.0M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 9, 2025 | 43 | $153.4M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 10, 2025 | 40 | $163.1M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 12, 2024 | 41 | $158.3M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 12, 2024 | 39 | $149.8M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 10, 2024 | 37 | $143.3M | canonical | SEC ↗ |