<SEC-DOCUMENT>0001512901-21-000003.txt : 20210816
<SEC-HEADER>0001512901-21-000003.hdr.sgml : 20210816
<ACCEPTANCE-DATETIME>20210816154911
ACCESSION NUMBER:		0001512901-21-000003
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20210630
FILED AS OF DATE:		20210816
DATE AS OF CHANGE:		20210816
EFFECTIVENESS DATE:		20210816

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NBW CAPITAL LLC
		CENTRAL INDEX KEY:			0001512901
		IRS NUMBER:				522398149
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		13F-HR
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	028-14328
		FILM NUMBER:		211177537

	BUSINESS ADDRESS:	
		STREET 1:		101 FEDERAL STREET  22ND FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02155
		BUSINESS PHONE:		617-482-2222

	MAIL ADDRESS:	
		STREET 1:		101 FEDERAL STREET  22ND FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02155

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TAYLOR INVESTMENT COUNSELORS LLC
		DATE OF NAME CHANGE:	20110211
</SEC-HEADER>
<DOCUMENT>
<TYPE>13F-HR
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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          <cik>0001512901</cik>
          <ccc>XXXXXXXX</ccc>
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      <periodOfReport>06-30-2021</periodOfReport>
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    <coverPage>
      <reportCalendarOrQuarter>06-30-2021</reportCalendarOrQuarter>
      <filingManager>
        <name>NBW CAPITAL LLC</name>
        <address>
          <com:street1>101 FEDERAL STREET  22ND FLOOR</com:street1>
          <com:city>BOSTON</com:city>
          <com:stateOrCountry>MA</com:stateOrCountry>
          <com:zipCode>02155</com:zipCode>
        </address>
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      <form13FFileNumber>028-14328</form13FFileNumber>
      <provideInfoForInstruction5>N</provideInfoForInstruction5>
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    <signatureBlock>
      <name>Scott Dorsey</name>
      <title>Director of Operations</title>
      <phone>617-482-2222</phone>
      <signature>Scott Dorsey</signature>
      <city>Milton</city>
      <stateOrCountry>MA</stateOrCountry>
      <signatureDate>08-16-2021</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>0</otherIncludedManagersCount>
      <tableEntryTotal>79</tableEntryTotal>
      <tableValueTotal>410579</tableValueTotal>
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<DOCUMENT>
<TYPE>INFORMATION TABLE
<SEQUENCE>2
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<DESCRIPTION>NBW CAPITAL 13F 063021
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  <nameOfIssuer>BP Midstream Partners, LP</nameOfIssuer>
  <titleOfClass>LTD</titleOfClass>
  <cusip>0556EL109</cusip>
  <value>3367</value>
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  <nameOfIssuer>Crestwood Equity Partners, LP</nameOfIssuer>
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  <value>4267</value>
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  <nameOfIssuer>Energy Transfer, LP</nameOfIssuer>
  <titleOfClass>LTD</titleOfClass>
  <cusip>29273V100</cusip>
  <value>6682</value>
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  <nameOfIssuer>MPLX, LP</nameOfIssuer>
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  <value>2318</value>
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  <titleOfClass>LTD</titleOfClass>
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  <value>2902</value>
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  <votingAuthority>
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  <nameOfIssuer>Shell Midstream Partners, LP</nameOfIssuer>
  <titleOfClass>LTD</titleOfClass>
  <cusip>822634101</cusip>
  <value>2581</value>
  <shrsOrPrnAmt>
    <sshPrnamt>174765</sshPrnamt>
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  <investmentDiscretion>SOLE</investmentDiscretion>
  <votingAuthority>
    <Sole>174765</Sole>
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  <nameOfIssuer>Western Midstream Partners</nameOfIssuer>
  <titleOfClass>LTD</titleOfClass>
  <cusip>958669103</cusip>
  <value>4319</value>
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    <sshPrnamt>201633</sshPrnamt>
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  <votingAuthority>
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  <titleOfClass>LTD</titleOfClass>
  <cusip>960417103</cusip>
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  <nameOfIssuer>Analog Devices, Inc.</nameOfIssuer>
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  <cusip>032654105</cusip>
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  <nameOfIssuer>Antero Midstream Corp</nameOfIssuer>
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  <nameOfIssuer>Apple, Inc.</nameOfIssuer>
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  <nameOfIssuer>BJ&apos;s Wholesale Club</nameOfIssuer>
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  <nameOfIssuer>Hess Midstream LP Class A</nameOfIssuer>
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  <titleOfClass>COM</titleOfClass>
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  <titleOfClass>TR UNIT</titleOfClass>
  <cusip>46429B309</cusip>
  <value>3211</value>
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  <cusip>78463V107</cusip>
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  <nameOfIssuer>SPDR S &amp; P 500 ETF Trust</nameOfIssuer>
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  <cusip>78462F103</cusip>
  <value>9152</value>
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    <Shared>0</Shared>
    <None>0</None>
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<infoTable>
  <nameOfIssuer>UBS ETracs Alerian MLP / MLPB</nameOfIssuer>
  <titleOfClass>TR UNIT</titleOfClass>
  <cusip>90274D382</cusip>
  <value>6428</value>
  <shrsOrPrnAmt>
    <sshPrnamt>380153</sshPrnamt>
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  <investmentDiscretion>SOLE</investmentDiscretion>
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    <Shared>0</Shared>
    <None>0</None>
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</infoTable>
</informationTable>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>