Q2 2026 13F · SEC CIK 1581794

Northern Capital Management, Inc.

Wealth managerFiled 2026-07-23 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $234.5M
Reported positions: 55
Top holdings a year, 3 yrs: +20.4%
Assets under management: $918.2M

Northern Capital Management, Inc. is a wealth manager that reported 55 positions worth $234.5M in its Q2 2026 13F, filed 2026-07-23. Its largest holdings were Schwab U.s. Large-Cap Growth ETF (SCHG, 25.7%), Schwab Strategic Tr (SCHV, 21.0%), Invesco Qqq Tr (QQQ, 17.9%). A portfolio copying its top holdings returned 20.4% a year over the last 3 years, against 20.4% for the S&P 500.

Northern Capital Management, Inc. holdings largest 50 of 55 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Northern Capital Management, Inc. 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
SCHGSchwab U.s. Large-Cap Growth ETF	25.7%	25.7%	1,779,876	+1.1%	$60.2M
SCHVSchwab Strategic Tr	21.0%	20.9%	1,412,672	+3.3%	$49.2M
QQQInvesco Qqq Tr	17.9%	16.6%	56,877	-0.7%	$41.9M
VVVanguard Inx Lrg	8.4%	8.5%	57,163	+0.3%	$19.7M
SPYVSpdr Series Trust	8.4%	8.8%	322,571	+3.8%	$19.6M
JNJJohnson & Johnson	2.2%	2.5%	19,992	+0.0%	$5.1M
GBCIGlacier Bancorp Inc New	1.9%	2.0%	87,162	+0.0%	$4.5M
AAPLApple Inc	1.7%	1.8%	13,813	+0.3%	$4.0M
MSFTMicrosoft Corp	1.2%	1.5%	7,711	-1.4%	$2.9M
FIBKFirst Intst Bancsystem Inc	0.8%	0.9%	51,590	+0.5%	$2.0M
AMZNAmazon Com Inc Com	0.8%	0.8%	7,889	-2.5%	$1.9M
DIAState Street Spdr Dow Jones Industrial A	0.7%	0.8%	3,234	+0.0%	$1.7M
NVDANvidia Corporation Com	0.6%	0.6%	7,289	+0.5%	$1.5M
GOOGAlphabet Inc	0.6%	0.6%	4,067	+1.2%	$1.4M
COSTCostco Whsl Corp New	0.5%	0.6%	1,216	+0.0%	$1.1M
VOOVanguard S&p 500 ETF	0.5%	0.5%	1,634	+0.4%	$1.1M
CVXChevron Corp New	0.5%	0.4%	6,489	+69.8%	$1.1M
MUMicron Technology Inc	0.4%	0.1%	852	+21.4%	$984K
VTIVanguard Index Fds	0.4%	0.4%	2,256	-2.3%	$835K
SCHBSchwb US Broad	0.4%	0.4%	28,633	-1.7%	$829K
SMHVaneck Semiconductor ETF	0.3%	0.2%	1,025	+1.5%	$673K
GOOGLAlphabet Inc	0.3%	0.2%	1,707	-0.5%	$610K
VEUVanguard FTSE All	0.3%	0.3%	7,148	+0.0%	$599K
XOMExxon Mobil Corp	0.2%	0.4%	4,146	+0.3%	$567K
AONAon PLC	0.2%	0.3%	1,688	+0.0%	$560K
VNQVanguard Real Estate ETF	0.2%	0.2%	4,788	+0.0%	$462K
JPMJpmorgan Chase & Co	0.2%	0.2%	1,404	+0.0%	$460K
SBUXStarbucks Corp Com	0.2%	0.2%	4,447	+0.0%	$454K
CMICummins Inc	0.2%	0.2%	612	+0.0%	$437K
CATCaterpillar Inc Com	0.2%	0.1%	406	+0.0%	$433K
BABoeing Co	0.2%	0.2%	1,992	+0.0%	$431K
ASMLAsml Hldg NV	0.2%	0.1%	213	+10.9%	$425K
ABBVAbbvie Inc	0.2%	0.2%	1,673	+0.0%	$421K
METAMeta Platforms Inc Class A	0.2%	0.2%	703	+4.8%	$396K
IMCGIshares Morningstar Mid-Cap Growth ETF	0.2%	0.2%	3,880	+0.0%	$381K
SCHMSchwab Strategic Tr	0.2%	0.4%	10,331	-58.7%	$381K
UNHUnitedhealth Group Inc Com	0.2%	0.1%	849	-0.1%	$353K
VVisa Inc Com Cl A	0.1%	0.2%	1,003	+0.0%	$344K
TQQQProshares Tr	0.1%	—	4,236	—	$343K
CEFSprott Asset Management LP	0.1%	0.2%	8,380	+0.0%	$337K
IBMInternational Business Machs	0.1%	0.1%	1,163	+0.1%	$327K
VXUSVanguard Star Fds Vanguard Total Intl St	0.1%	0.1%	3,752	+0.2%	$321K
USXFiShares ESG Advanced MSCI USA E	0.1%	0.1%	4,455	+0.0%	$309K
TSMTaiwan Semiconductor Manufac	0.1%	—	628	—	$300K
BRK-BBerkshire Hathaway Inc Del	0.1%	0.4%	585	-64.3%	$293K
LLYLilly Eli & Co	0.1%	—	238	—	$286K
ITOTIshares Total US Stock Market ETF	0.1%	0.1%	1,696	+0.0%	$279K
EPDEnterprise Prods Partners L	0.1%	0.1%	7,502	+0.2%	$276K
DLNWisdomTree US LargeCap Dividend ETF Tota	0.1%	0.1%	2,714	+0.0%	$261K
WFCWells Fargo Co New	0.1%	0.1%	3,084	+0.0%	$255K

What Northern Capital Management, Inc. bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

CVX Chevron Corp New+69.8% shares
MU Micron Technology Inc+21.4% shares
ASML Asml Hldg NV+10.9% shares

Reduced

BRK-B Berkshire Hathaway Inc Del-64.3% shares
SCHM Schwab Strategic Tr-58.7% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +21.7% /yr; S&P 500 +20.1%
3 years: +20.4% /yr; S&P 500 +20.4%
5 years: +9.9% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$234.5M	55
Q1 2026	$199.5M	51
Q4 2025	$189.3M	52
Q3 2025	$184.3M	46
Q2 2025	$170.0M	44
Q1 2025	$153.4M	43
Q4 2024	$163.1M	40
Q3 2024	$158.3M	41
Q2 2024	$149.8M	39
Q1 2024	$143.3M	37
Q4 2023	$111.8M	31
Q3 2023	$107.1M	36

Questions about Northern Capital Management, Inc.'s portfolio

What stocks does Northern Capital Management, Inc. own?

Northern Capital Management, Inc.'s latest 13F, for Q2 2026 and filed Jul 23, 2026, lists 55 positions worth $234.5M. The largest are Schwab U.s. Large-Cap Growth ETF (SCHG) at 25.7%, Schwab Strategic Tr (SCHV) at 21.0%, Invesco Qqq Tr (QQQ) at 17.9%, Vanguard Inx Lrg (VV) at 8.4% and Spdr Series Trust (SPYV) at 8.4%.

What did Northern Capital Management, Inc. buy last quarter?

In Q2 2026, Northern Capital Management, Inc. added Chevron Corp New (CVX) (+69.8% shares), Micron Technology Inc (MU) (+21.4% shares) and Asml Hldg NV (ASML) (+10.9% shares), compared with its Q1 2026 filing.

What did Northern Capital Management, Inc. sell last quarter?

In Q2 2026, Northern Capital Management, Inc. cut from its top 50 Broadcom Inc (AVGO), cut from its top 50 Spdr Gold Shares (GLD), cut from its top 50 Conocophillips (COP), Berkshire Hathaway Inc Del (BRK-B) (-64.3% shares) and Schwab Strategic Tr (SCHM) (-58.7% shares), compared with its Q1 2026 filing.

How has Northern Capital Management, Inc.'s portfolio performed?

A portfolio copying Northern Capital Management, Inc.'s 20 largest 13F holdings each quarter, from the day each filing was public, returned +20.4% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +21.7% against +20.1%. Over 5 years: +9.9% a year against +11.6%.

When is Northern Capital Management, Inc.'s next 13F filing due?

13F filings are due 45 days after each quarter ends. Northern Capital Management, Inc.'s filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Northern Capital Management, Inc. manage?

Northern Capital Management, Inc. reported $918.2M of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $234.5M.