# EDGAR Filing Document

**Accession Number:** 0001581794
**File Stem:** 0001581794-26-000002
**Filing Date:** 2026-2
**Character Count:** 8864
**Document Hash:** 82c7ea35397432cb06af98b0c5f2e889
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001581794-26-000002.hdr.sgml**: 20260203

**ACCESSION NUMBER**: 0001581794-26-000002

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260203

**DATE AS OF CHANGE**: 20260203

**EFFECTIVENESS DATE**: 20260203

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Northern Capital Management, Inc.
- **CENTRAL INDEX KEY:** 0001581794

**ORGANIZATION NAME:**
- **EIN:** 911548437
- **STATE OF INCORPORATION:** WA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-20658
- **FILM NUMBER:** 26594536

**BUSINESS ADDRESS:**
- **STREET 1:** 2700 S. SOUTHEAST BLVD.
- **STREET 2:** STE 205
- **CITY:** SPOKANE
- **STATE:** WA
- **ZIP:** 99223
- **BUSINESS PHONE:** 509-456-2526

**MAIL ADDRESS:**
- **STREET 1:** 2700 S. SOUTHEAST BLVD.
- **STREET 2:** STE 205
- **CITY:** SPOKANE
- **STATE:** WA
- **ZIP:** 99223

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Northern Capital Management Inc.<br>**Address:** 2700 S. SOUTHEAST BLVD.<br>STE 205<br>SPOKANE, WA 99223

**Form 13F File Number:** 028-20658

**CRD Number (if applicable):** 000111379

**SEC File Number (if applicable):** 801-44942

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Laurie J. Silva<br>**Title:** Chief Compliance Officer<br>**Phone:** 509-456-2526

**Signature, Place, and Date of Signing:**

Laurie J. Silva  Spokane, WA  02-03-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 52

**Form 13F Information Table Value Total:** $189250913

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 |  | 56868841 | 1743373 | SH |  | SOLE |  | 0 | 0 | 1743373 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 35092771 | 57126 | SH |  | SOLE |  | 0 | 0 | 57126 |
| SCHWAB STRATEGIC TR | US LCAP VA ETF | 808524409 |  | 32890524 | 1110791 | SH |  | SOLE |  | 0 | 0 | 1110791 |
| VANGUARD INDEX FDS | LARGE CAP ETF | 922908637 |  | 18217502 | 57870 | SH |  | SOLE |  | 0 | 0 | 57870 |
| GLACIER BANCORP INC NEW | COM | 37637Q105 |  | 5437488 | 123439 | SH |  | SOLE |  | 0 | 0 | 123439 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A508 |  | 4778721 | 84118 | SH |  | SOLE |  | 0 | 0 | 84118 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 4136650 | 19989 | SH |  | SOLE |  | 0 | 0 | 19989 |
| MICROSOFT CORP | COM | 594918104 |  | 3755310 | 7765 | SH |  | SOLE |  | 0 | 0 | 7765 |
| APPLE INC | COM | 037833100 |  | 3751188 | 13798 | SH |  | SOLE |  | 0 | 0 | 13798 |
| FIRST INTST BANCSYSTEM INC | COM | 32055Y201 |  | 1802672 | 52100 | SH |  | SOLE |  | 0 | 0 | 52100 |
| AMAZON COM INC | COM | 023135106 |  | 1749616 | 7580 | SH |  | SOLE |  | 0 | 0 | 7580 |
| SPDR DOW JONES INDL AVERAGE | UT SER 1 | 78467X109 |  | 1452763 | 3023 | SH |  | SOLE |  | 0 | 0 | 3023 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 1315637 | 7054 | SH |  | SOLE |  | 0 | 0 | 7054 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 1262380 | 4023 | SH |  | SOLE |  | 0 | 0 | 4023 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 1067707 | 1703 | SH |  | SOLE |  | 0 | 0 | 1703 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 1059561 | 40395 | SH |  | SOLE |  | 0 | 0 | 40395 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 1013762 | 1176 | SH |  | SOLE |  | 0 | 0 | 1176 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 970285 | 2894 | SH |  | SOLE |  | 0 | 0 | 2894 |
| SCHWAB STRATEGIC TR | US MID-CAP ETF | 808524508 |  | 857486 | 28516 | SH |  | SOLE |  | 0 | 0 | 28516 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 842944 | 1677 | SH |  | SOLE |  | 0 | 0 | 1677 |
| AON PLC | SHS CL A | G0403H108 |  | 595661 | 1688 | SH |  | SOLE |  | 0 | 0 | 1688 |
| CHEVRON CORP NEW | COM | 166764100 |  | 582448 | 3822 | SH |  | SOLE |  | 0 | 0 | 3822 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 536882 | 1715 | SH |  | SOLE |  | 0 | 0 | 1715 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 525807 | 7148 | SH |  | SOLE |  | 0 | 0 | 7148 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 496647 | 4127 | SH |  | SOLE |  | 0 | 0 | 4127 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 452328 | 1404 | SH |  | SOLE |  | 0 | 0 | 1404 |
| META PLATFORMS INC | CL A | 30303M102 |  | 437304 | 662 | SH |  | SOLE |  | 0 | 0 | 662 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 423690 | 4788 | SH |  | SOLE |  | 0 | 0 | 4788 |
| SPROTT ASSET MANAGEMENT LP | PHYSICAL GOLD AN | 85208R101 |  | 383804 | 8380 | SH |  | SOLE |  | 0 | 0 | 8380 |
| ABBVIE INC | COM | 00287Y109 |  | 382173 | 1673 | SH |  | SOLE |  | 0 | 0 | 1673 |
| BOEING CO | COM | 097023105 |  | 381914 | 1759 | SH |  | SOLE |  | 0 | 0 | 1759 |
| STARBUCKS CORP | COM | 855244109 |  | 374482 | 4447 | SH |  | SOLE |  | 0 | 0 | 4447 |
| BROADCOM INC | COM | 11135F101 |  | 363285 | 1050 | SH |  | SOLE |  | 0 | 0 | 1050 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 356684 | 4443 | SH |  | SOLE |  | 0 | 0 | 4443 |
| VISA INC | COM CL A | 92826C839 |  | 351787 | 1003 | SH |  | SOLE |  | 0 | 0 | 1003 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 343819 | 1161 | SH |  | SOLE |  | 0 | 0 | 1161 |
| CUMMINS INC | COM | 231021106 |  | 312325 | 612 | SH |  | SOLE |  | 0 | 0 | 612 |
| ISHARES TR | MRGSTR MD CP GRW | 464288307 |  | 309779 | 3880 | SH |  | SOLE |  | 0 | 0 | 3880 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 287429 | 3084 | SH |  | SOLE |  | 0 | 0 | 3084 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 274643 | 693 | SH |  | SOLE |  | 0 | 0 | 693 |
| ISHARES TR | ESG MSCI USA ETF | 46436E767 |  | 256519 | 4455 | SH |  | SOLE |  | 0 | 0 | 4455 |
| ELI LILLY  CO | COM | 532457108 |  | 255960 | 238 | SH |  | SOLE |  | 0 | 0 | 238 |
| ISHARES TR | CORE S TTL STK | 464287150 |  | 252178 | 1696 | SH |  | SOLE |  | 0 | 0 | 1696 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 245726 | 682 | SH |  | SOLE |  | 0 | 0 | 682 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 239590 | 7473 | SH |  | SOLE |  | 0 | 0 | 7473 |
| WISDOMTREE TR | US LARGECAP DIVD | 97717W307 |  | 239049 | 2714 | SH |  | SOLE |  | 0 | 0 | 2714 |
| CATERPILLAR INC | COM | 149123101 |  | 232662 | 406 | SH |  | SOLE |  | 0 | 0 | 406 |
| PROSHARES TR | ULTRAPRO QQQ | 74347X831 |  | 223322 | 4236 | SH |  | SOLE |  | 0 | 0 | 4236 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 205413 | 192 | SH |  | SOLE |  | 0 | 0 | 192 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 202889 | 615 | SH |  | SOLE |  | 0 | 0 | 615 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 200542 | 691 | SH |  | SOLE |  | 0 | 0 | 691 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 200364 | 702 | SH |  | SOLE |  | 0 | 0 | 702 |

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