# New Capital Management, LP

> New Capital Management, LP is an SEC-registered investment advisory firm in Houston, TX, registered since 2004, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.

- CRD: 131658
- Filed as: NEW CAPITAL MANAGEMENT, LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Houston, TX
- Filing period: October 2026
- Form ADV filing dated: March 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/131658
- AdvisorCensus page: https://advisorcensus.com/firm/new-capital-management-lp-houston-tx-131658

## Quick answers

**How is New Capital Management, LP compensated?**
On its Form ADV (Item 5.E, October 2026), New Capital Management, LP reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees). The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is New Capital Management, LP located?**
New Capital Management, LP's principal office is in Houston, TX, according to its Form ADV.

**Is New Capital Management, LP registered with the SEC or a state?**
New Capital Management, LP is an SEC-registered investment advisory firm, registered since 2004. Status as filed: Approved. CRD 131658.

**How much does New Capital Management, LP manage?**
New Capital Management, LP reports $533,528,671 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (98% discretionary).

**How have New Capital Management, LP's assets and staff changed since 2021?**
In the Form ADV data for New Capital Management, LP: Regulatory assets under management: $316,020,000 in the October 2021 data and $533,528,671 in the October 2026 data, up 69%. Total employees: 4 in October 2021 and 5 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does New Capital Management, LP serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (90); individuals (other than high net worth individuals) (36); charitable organizations (2).

**Does New Capital Management, LP report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/131658

**What changed in New Capital Management, LP's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $465,813,150 to $533,528,671 (+15%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)

### Regulatory assets under management (Item 5.F)
- Total: $533,528,671
- Discretionary: $520,504,359
- Non-discretionary: $13,024,312

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 36 | $19,560,707 |
| High net worth individuals | 90 | $506,673,844 |
| Charitable organizations | 2 | $5,457,831 |
| Corporations or other businesses not listed above | 2 | $1,836,289 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)
- Publication of periodicals or newsletters
- Educational seminars/workshops
- Other

### Firm details
- Registered since: 2004 (22 years)
- Employees: 5 total, 2 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- newcapitalmgmt.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $316,020,000 | 4 | March 31, 2021 |
| October 2022 | $383,000,000 | 4 | March 31, 2022 |
| October 2023 | $353,369,020 | 4 | April 21, 2023 |
| October 2024 | $416,148,188 | 4 | May 28, 2024 |
| October 2025 | $465,813,150 | 5 | March 26, 2025 |
| October 2026 | $533,528,671 | 5 | March 30, 2026 |

Regulatory assets under management: $316,020,000 in the October 2021 data and $533,528,671 in the October 2026 data, up 69%.
Total employees: 4 in October 2021 and 5 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $465,813,150 to $533,528,671 (+15%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. New Capital Management, LP (CRD 131658): Form ADV filing data as of October 2026.