NCM Capital Management, LLC historic quarter change: USA ETF, Sold out
In exchange-traded fund shares (known by the fund name on the filing) (listed in the US), over 10 quarters from 2023-12-31 to 2026-06-30, NCM Capital Management, LLC opened 69 positions, added to 300, reduced 197 and sold out of 48.
- Q2 2026: Stock INFL; Country of operation —; Class HORIZON KINETICS; Shares before 133,728.
- Q2 2026: Stock XAR; Country of operation —; Class STATE STREET SPD; Shares before 11,479.
- Q2 2026: Stock TCAL; Country of operation —; Class CAPITAL APPRECIA; Shares before 116,967.
- Q2 2026: Stock XLU; Country of operation —; Class STATE STREET UTI; Shares before 42,468.
Each consecutive pair of Form 13F-HR filings compared (SEC CIK 1907054), 10 quarters: Q2 2026 (2026-03-31 to 2026-06-30, filed 2026-08-14); Q1 2026 (2025-12-31 to 2026-03-31, filed 2026-05-15); Q4 2025 (2025-09-30 to 2025-12-31, filed 2026-03-02); Q3 2025 (2025-06-30 to 2025-09-30, filed 2025-11-14); Q2 2025 (2025-03-31 to 2025-06-30, filed 2025-08-14); Q1 2025 (2024-12-31 to 2025-03-31, filed 2025-05-14); Q4 2024 (2024-09-30 to 2024-12-31, filed 2025-02-18); Q3 2024 (2024-06-30 to 2024-09-30, filed 2024-11-14); Q2 2024 (2024-03-31 to 2024-06-30, filed 2024-08-14); Q1 2024 (2023-12-31 to 2024-03-31, filed 2024-05-15). Rows for the same security, class and put/call are added together. Value change is the filed value at each quarter end, so it includes the price move. Only the filings held here are compared; the firm's 13F-HR filings go back to the quarter ended 2021-12-31.
| Quarter | Stock | Country of operation | Class | Shares before | Shares after | Share change | Value before | Value after | Value change | Filed |
|---|
| Q2 2026 | INFL
LISTED FDS TR | | HORIZON KINETICS | 133,728 | 0 | -133,728 | $6,961,868 | $0 | -$6,961,868 | 2026-08-14 |
|---|
| Q2 2026 | XAR
SPDR SERIES TRUST | | STATE STREET SPD | 11,479 | 0 | -11,479 | $2,915,488 | $0 | -$2,915,488 | 2026-08-14 |
|---|
| Q2 2026 | TCAL
T ROWE PRICE ETF INC | | CAPITAL APPRECIA | 116,967 | 0 | -116,967 | $2,614,203 | $0 | -$2,614,203 | 2026-08-14 |
|---|
| Q2 2026 | XLU
SELECT SECTOR SPDR TR | | STATE STREET UTI | 42,468 | 0 | -42,468 | $1,948,839 | $0 | -$1,948,839 | 2026-08-14 |
|---|
| Q2 2026 | GQGU
ADVISORS INNER CIRCLE FD III | | GQG US EQUITY ET | 64,423 | 0 | -64,423 | $1,733,623 | $0 | -$1,733,623 | 2026-08-14 |
|---|
| Q2 2026 | XLK
SELECT SECTOR SPDR TR | | STATE STREET TEC | 10,860 | 0 | -10,860 | $1,443,297 | $0 | -$1,443,297 | 2026-08-14 |
|---|
| Q2 2026 | HELO
J P MORGAN EXCHANGE TRADED F | | HEDGED EQUITY LA | 20,873 | 0 | -20,873 | $1,333,985 | $0 | -$1,333,985 | 2026-08-14 |
|---|
| Q2 2026 | XLP
SELECT SECTOR SPDR TR | | STATE STREET CON | 13,196 | 0 | -13,196 | $1,081,818 | $0 | -$1,081,818 | 2026-08-14 |
|---|
| Q2 2026 | XBI
SPDR SERIES TRUST | | STATE STREET SPD | 3,584 | 0 | -3,584 | $457,827 | $0 | -$457,827 | 2026-08-14 |
|---|
| Q2 2026 | FCTE
ETF OPPORTUNITIES TRUST | | SMI 3FOURTEEN FU | 16,600 | 0 | -16,600 | $409,129 | $0 | -$409,129 | 2026-08-14 |
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| Q2 2026 | XLV
SELECT SECTOR SPDR TR | | STATE STREET HEA | 2,683 | 0 | -2,683 | $393,281 | $0 | -$393,281 | 2026-08-14 |
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| Q2 2026 | XLE
SELECT SECTOR SPDR TR | | STATE STREET ENE | 5,593 | 0 | -5,593 | $342,646 | $0 | -$342,646 | 2026-08-14 |
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| Q2 2026 | USMV
ISHARES TR | | MSCI USA MIN VOL | 2,539 | 0 | -2,539 | $235,467 | $0 | -$235,467 | 2026-08-14 |
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| Q2 2026 | XLI
SELECT SECTOR SPDR TR | | STATE STREET IND | 1,360 | 0 | -1,360 | $219,954 | $0 | -$219,954 | 2026-08-14 |
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| Q2 2026 | IEI
ISHARES TR | | 3 7 YR TREAS BD | 1,760 | 0 | -1,760 | $208,736 | $0 | -$208,736 | 2026-08-14 |
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| Q2 2026 | VKQ
INVESCO MUNICIPAL TRUST | | COM | 11,476 | 0 | -11,476 | $109,252 | $0 | -$109,252 | 2026-08-14 |
|---|
| Q4 2025 | XLU
SELECT SECTOR SPDR TR | | SBI INT-UTILS | 21,546 | 0 | -21,546 | $1,879,060 | $0 | -$1,879,060 | 2026-03-02 |
|---|
| Q4 2025 | XLK
SELECT SECTOR SPDR TR | | TECHNOLOGY | 5,426 | 0 | -5,426 | $1,529,372 | $0 | -$1,529,372 | 2026-03-02 |
|---|
| Q4 2025 | XLP
SELECT SECTOR SPDR TR | | SBI CONS STPLS | 10,715 | 0 | -10,715 | $839,723 | $0 | -$839,723 | 2026-03-02 |
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| Q4 2025 | XLV
SELECT SECTOR SPDR TR | | SBI HEALTHCARE | 2,683 | 0 | -2,683 | $373,324 | $0 | -$373,324 | 2026-03-02 |
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| Q4 2025 | XBI
SPDR SERIES TRUST | | S&P BIOTECH | 3,616 | 0 | -3,616 | $362,367 | $0 | -$362,367 | 2026-03-02 |
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| Q4 2025 | XLE
SELECT SECTOR SPDR TR | | ENERGY | 2,793 | 0 | -2,793 | $249,509 | $0 | -$249,509 | 2026-03-02 |
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| Q4 2025 | BND
VANGUARD BD INDEX FDS | | TOTAL BND MRKT | 3,038 | 0 | -3,038 | $225,936 | $0 | -$225,936 | 2026-03-02 |
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| Q4 2025 | XAR
SPDR SERIES TRUST | | AEROSPACE DEF | 922 | 0 | -922 | $216,582 | $0 | -$216,582 | 2026-03-02 |
|---|
| Q4 2025 | XLI
SELECT SECTOR SPDR TR | | INDL | 1,360 | 0 | -1,360 | $209,754 | $0 | -$209,754 | 2026-03-02 |
|---|
| Q4 2025 | DSL
DOUBLELINE INCOME SOLUTIONS | | COM | 12,100 | 0 | -12,100 | $148,588 | $0 | -$148,588 | 2026-03-02 |
|---|
| Q4 2025 | VKQ
INVESCO MUNICIPAL TRUST | | COM | 11,476 | 0 | -11,476 | $110,743 | $0 | -$110,743 | 2026-03-02 |
|---|
| Q3 2025 | SPYM
SPDR SERIES TRUST | United States | PORTFOLIO S&P500 | 6,651 | 0 | -6,651 | $503,214 | $0 | -$503,214 | 2025-11-14 |
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| Q3 2025 | SUB
ISHARES TR | | SHRT NAT MUN ETF | 3,596 | 0 | -3,596 | $384,066 | $0 | -$384,066 | 2025-11-14 |
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| Q1 2025 | PAVE
GLOBAL X FDS | | US INFR DEV ETF | 5,006 | 0 | -5,006 | $202,276 | $0 | -$202,276 | 2025-05-14 |
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| Q4 2024 | XLB
SELECT SECTOR SPDR TR | | SBI MATERIALS | 2,140 | 0 | -2,140 | $206,253 | $0 | -$206,253 | 2025-02-18 |
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| Q4 2024 | VGT
VANGUARD WORLD FD | | INF TECH ETF | 350 | 0 | -350 | $205,282 | $0 | -$205,282 | 2025-02-18 |
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| Q4 2024 | VKQ
INVESCO MUNICIPAL TRUST | | COM | 11,476 | 0 | -11,476 | $117,744 | $0 | -$117,744 | 2025-02-18 |
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| Q3 2024 | BDJ
BLACKROCK ENHANCED EQUITY DI | | COM | 10,111 | 0 | -10,111 | $82,607 | $0 | -$82,607 | 2024-11-14 |
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| Q2 2024 | AVDV
AMERICAN CENTY ETF TR | | INTL SMCP VLU | 3,471 | 0 | -3,471 | $228,568 | $0 | -$228,568 | 2024-08-14 |
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| Q2 2024 | IYR
ISHARES TR | | U.S. REAL ES ETF | 2,511 | 0 | -2,511 | $225,739 | $0 | -$225,739 | 2024-08-14 |
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| Q2 2024 | XLB
SELECT SECTOR SPDR TR | | SBI MATERIALS | 2,315 | 0 | -2,315 | $215,040 | $0 | -$215,040 | 2024-08-14 |
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| Q2 2024 | PAVE
GLOBAL X FDS | | US INFR DEV ETF | 5,135 | 0 | -5,135 | $204,424 | $0 | -$204,424 | 2024-08-14 |
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| Q2 2024 | IWN
ISHARES TR | | RUS 2000 VAL ETF | 1,262 | 0 | -1,262 | $200,418 | $0 | -$200,418 | 2024-08-14 |
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| Q1 2024 | IVV
ISHARES TR | | CORE S&P500 ETF | 2,269 | 0 | -2,269 | $1,083,742 | $0 | -$1,083,742 | 2024-05-15 |
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| Q1 2024 | SUB
ISHARES TR | | SHRT NAT MUN ETF | 3,400 | 0 | -3,400 | $358,462 | $0 | -$358,462 | 2024-05-15 |
|---|
| Q1 2024 | SPYM
SPDR SER TR | United States | PORTFOLIO S&P500 | 6,335 | 0 | -6,335 | $354,127 | $0 | -$354,127 | 2024-05-15 |
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| Q1 2024 | KNG
FIRST TR EXCHANGE-TRADED FD | | FT CBOE VEST S&P | 5,385 | 0 | -5,385 | $278,297 | $0 | -$278,297 | 2024-05-15 |
|---|
| Q1 2024 | FBND
FIDELITY MERRIMACK STR TR | | TOTAL BD ETF | 5,466 | 0 | -5,466 | $251,642 | $0 | -$251,642 | 2024-05-15 |
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| Q1 2024 | XLI
SELECT SECTOR SPDR TR | | INDL | 1,940 | 0 | -1,940 | $221,141 | $0 | -$221,141 | 2024-05-15 |
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| Q1 2024 | GOVT
ISHARES TR | | US TREAS BD ETF | 8,974 | 0 | -8,974 | $206,761 | $0 | -$206,761 | 2024-05-15 |
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| Q1 2024 | VKQ
INVESCO MUNICIPAL TRUST | | COM | 14,476 | 0 | -14,476 | $137,956 | $0 | -$137,956 | 2024-05-15 |
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| Q1 2024 | BDJ
BLACKROCK ENHANCED EQUITY DI | | COM | 10,111 | 0 | -10,111 | $77,754 | $0 | -$77,754 | 2024-05-15 |
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