Capabilities, the lifeblood of an enterprise, can be managed effectively using portfolio management techniques. Capability roadmaps are commonly used to manage the deployment of new and improved capabilities to address key drivers and challenges that the enterprise faces. This paper shows how MBSE can enhance an organization's ability to plan for capability deployments, as well as the ability to more effectively manage its portfolios of systems, services, people, technologies, processes, facilities, and other key enablers for the fielded capabilities. Specific enterprise modeling elements that can facilitate capability planning and portfolio management are presented. These new modeling elements are being incorporated into an update of the Unified Architecture Framework, an OMG standard for modeling an enterprise.