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NCM

Next Capital Management Portfolio holdings

AUM $370M Turnover 16.22%
1-Year Est. Return 13.07%
This Fund
S&P 500
This Quarter Est. Return
+11.39%
1 Year Est. Return
+13.07%
3 Year Est. Return
+61.26%
5 Year Est. Return
+63.83%
10 Year Est. Return
–
AUM
$370M
AUM Growth
+$40.3M
Cap. Flow
+$6.97M
Cap. Flow %
1.88%
Top 10 Hldgs %
48.42%
Holding
148
New
14
Increased
39
Reduced
35
Closed
10
Avg Time Held
3.2 years
Top 10 Avg Time Held
2.4 years
Top 20 Avg Time Held
2.9 years

Top Buys

Rank Stock Value
1
OBDC icon
Blue Owl Capital
OBDC
+$3.02M
2
IEFA icon
iShares Core MSCI EAFE ETF
IEFA
+$1.57M
3
IVV icon
iShares Core S&P 500 ETF
IVV
+$1.36M
4
IEMG icon
iShares Core MSCI Emerging Markets ETF
IEMG
+$949K
5
IJH icon
iShares Core S&P Mid-Cap ETF
IJH
+$704K

Top Sells

Rank Stock Value
1
AMZN icon
Amazon
AMZN
+$3.07M
2
JPST icon
JPMorgan Ultra-Short Income ETF
JPST
+$1.09M
3
GBDC icon
Golub Capital BDC
GBDC
+$805K
4
RYAM icon
Rayonier Advanced Materials
RYAM
+$569K
5
ALAB icon
Astera Labs
ALAB
+$568K

Sector Composition

Rank Sector Weight
1 Miscellaneous 63.54%
2 Financials 20.83%
3 Technology 5.14%
4 Communication Services 3.96%
5 Consumer Discretionary 2.25%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
IVV icon
1
iShares Core S&P 500 ETF
IVV
$884B
$54.3M 14.65%
72,466
+1,867
+3% +$1.36M
2018 Q4
30 quarters
MFIC icon
2
MidCap Financial Investment
MFIC
$678M
$19.1M 5.17%
1,899,667
+28,015
+1% +$308K
2024 Q3
7 quarters
OBDC icon
3
Blue Owl Capital
OBDC
$4.88B
$18.5M 4.99%
1,688,690
+269,871
+19% +$3.02M
2022 Q1
17 quarters
IEFA icon
4
iShares Core MSCI EAFE ETF
IEFA
$189B
$17M 4.59%
176,061
+16,311
+10% +$1.57M
2018 Q4
30 quarters
QQQ icon
5
Invesco QQQ Trust
QQQ
$485B
$14.7M 3.98%
20,030
-61
-0.3% -$42K
2018 Q4
30 quarters
IEMG icon
6
iShares Core MSCI Emerging Markets ETF
IEMG
$152B
$13.5M 3.65%
163,430
+11,909
+8% +$949K
2018 Q4
30 quarters
VTI icon
7
Vanguard Morningstar Total Stock Market ETF
VTI
$692B
$11.4M 3.09%
30,917
-243
-0.8% -$86.9K
2018 Q4
30 quarters
TCPC icon
8
BlackRock TCP Capital
TCPC
$346M
$10.5M 2.84%
3,130,285
+80,738
+3% +$313K
2021 Q4
18 quarters
IWF icon
9
iShares Russell 1000 Growth ETF
IWF
$126B
$10.5M 2.83%
84,480
-1,064
-1% -$128K
2020 Q2
24 quarters
META icon
10
Meta Platforms (Facebook)
META
$1.8T
$9.7M 2.63%
17,281
+985
+6% +$602K
2018 Q4
30 quarters
IVW icon
11
iShares S&P 500 Growth ETF
IVW
$77.6B
$9.7M 2.61%
70,383
+2,504
+4% +$331K
2018 Q4
30 quarters
IJH icon
12
iShares Core S&P Mid-Cap ETF
IJH
$121B
$7.85M 2.12%
101,771
+9,597
+10% +$704K
2018 Q4
30 quarters
IJR icon
13
iShares Core S&P Small-Cap ETF
IJR
$102B
$7.78M 2.1%
52,491
+2,742
+6% +$376K
2018 Q4
30 quarters
AAPL icon
14
Apple
AAPL
$5T
$7.63M 2.06%
26,355
-268
-1% -$76.7K
2022 Q1
17 quarters
AMZN icon
15
Amazon
AMZN
$2.83T
$7.25M 1.96%
30,407
-12,243
-29% -$3.07M
2018 Q4
30 quarters
IWD icon
16
iShares Russell 1000 Value ETF
IWD
$83.6B
$6.78M 1.83%
27,975
-90
-0.3% -$21K
2020 Q2
24 quarters
GBDC icon
17
Golub Capital BDC
GBDC
$3.12B
$6.51M 1.76%
505,442
-61,763
-11% -$805K
2018 Q4
30 quarters
VOO icon
18
Vanguard S&P 500 ETF
VOO
$1.04T
$5.86M 1.58%
8,537
+4
+0% +$2.67K
2018 Q4
30 quarters
SPY icon
19
State Street SPDR S&P 500 ETF Trust
SPY
$818B
$4.95M 1.34%
6,632
-127
-2% -$92.1K
2018 Q4
30 quarters
IWB icon
20
iShares Russell 1000 ETF
IWB
$48.8B
$4.9M 1.32%
11,954
+2
+0% +$793
2024 Q3
7 quarters
KKR icon
21
KKR & Co
KKR
$78.2B
$4.71M 1.27%
51,339
+3,568
+7% +$346K
2020 Q3
23 quarters
NVDA icon
22
NVIDIA
NVDA
$5.24T
$4.52M 1.22%
22,614
+30
+0.1% +$6.17K
2024 Q1
9 quarters
FNDX icon
23
Schwab Fundamental US Large Company Index ETF
FNDX
$28.1B
$4.48M 1.21%
144,153
+16,145
+13% +$487K
2023 Q4
10 quarters
BRK.B icon
24
Berkshire Hathaway Class B
BRK.B
$1.14T
$4.17M 1.13%
8,342
-10
-0.1% -$4.81K
2018 Q4
30 quarters
SCHA icon
25
Schwab U.S Small- Cap ETF
SCHA
$21.3B
$3.88M 1.05%
107,520
-370
-0.3% -$12.2K
2018 Q4
30 quarters
1
2 3 4 5

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Next Capital Management's Q2 2026 Portfolio in Review

As of Q2 2026, Next Capital Management held 148 positions worth $370M, up 12% from $330M the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Next Capital Management's Q2 2026 filing shows 14 new, 39 increased, 35 reduced and 10 closed positions. Its largest new stake was Broadcom: 1,142 shares worth $431K. The largest sale was Amazon, an estimated $3.07M.

By sector, the portfolio is most concentrated in Miscellaneous at 64% of assets, up from 60% a quarter earlier, followed by Financials and Technology.

  • Next Capital Management's largest Q2 2026 buy was Broadcom: 1,142 shares worth $431K.
  • Next Capital Management added most to Blue Owl Capital in Q2 2026, an estimated $3.02M increase.
  • Next Capital Management's biggest Q2 2026 reduction was Amazon, cutting an estimated $3.07M.
  • Next Capital Management fully exited JPMorgan Ultra-Short Income ETF in Q2 2026, selling an estimated $1.09M.
  • Next Capital Management's ten largest holdings make up 48% of its $370M portfolio in Q2 2026.
  • Next Capital Management opened 14 new positions and closed 10 in Q2 2026.
  • Next Capital Management's portfolio value rose 12% quarter-over-quarter to $370M.

Based on Next Capital Management's 13F filing for Q2 2026, filed 3 Aug 2026.