NCM

Next Capital Management Portfolio holdings

AUM $208M

AUM

$208M

AUM Growth

-$34.8M (-14%)

Cap. Flow

-$11.1M

Cap. Flow % of AUM

-5.33%

Top 10 Holdings %Top 10 Hldgs %

48.31%

Holding

150

New

Increased

Reduced

Closed

Top Buys

1	Berkshire Hathaway Class A BRK.A	$1.6M
2	iShares Core S&P 500 ETF IVV	$760K
3	Schwab US Broad Market ETF SCHB	$707K
4	Invesco NASDAQ 100 ETF QQQM	$560K
5	iShares Core S&P Mid-Cap ETF IJH	$499K

Top Sells

1	Golub Capital BDC GBDC	$3.65M
2	iShares Russell 1000 ETF IWB	$2.21M
3	Meta Platforms (Facebook) META	$1.38M
4	Health Care Select Sector SPDR Fund XLV	$1.15M
5	Vanguard Total Stock Market ETF VTI	$1.05M

Sector Composition

1	Financials	9.85%
2	Technology	6.37%
3	Communication Services	6.06%
4	Consumer Discretionary	4.81%
5	Consumer Staples	2.59%

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
1	1 iShares Core S&P 500 ETF IVV $589B	$32.9M	15.79%	58,585 +1,353	+2%	+$760K
2	2 Invesco QQQ Trust QQQ $339B	$10.2M	4.9%	21,771 -833	-4%	-$391K
3	3 Meta Platforms (Facebook) META $1.72T	$9.57M	4.59%	16,613 -2,397	-13%	-$1.38M
4	4 Apple AAPL $2.93T	$9.33M	4.47%	41,993 -2,553	-6%	-$567K
5	5 iShares Core MSCI EAFE ETF IEFA $140B	$7.9M	3.79%	104,411 +2,244	+2%	+$170K
6	6 Amazon AMZN $2.25T	$7.45M	3.57%	39,145 -2,750	-7%	-$523K
7	7 Vanguard Total Stock Market ETF VTI $479B	$7.18M	3.45%	26,136 -3,831	-13%	-$1.05M
8	8 iShares Russell 1000 Growth ETF IWF $107B	$6.63M	3.18%	18,352 +707	+4%	+$255K
9	9 Golub Capital BDC GBDC $3.91B	$5.19M	2.49%	342,953 -240,923	-41%	-$3.65M
10	10 iShares S&P 500 Growth ETF IVW $57.3B	$4.34M	2.08%	46,701 +406	+0.9%	+$37.7K
11	11 Vanguard S&P 500 ETF VOO $665B	$4.13M	1.98%	8,040 -53	-0.7%	-$27.2K
12	12 iShares Core MSCI Emerging Markets ETF IEMG $90.6B	$4M	1.92%	74,106 +5,034	+7%	+$272K
13	13 Berkshire Hathaway Class B BRK.B $1.05T	$3.93M	1.89%	7,386 -354	-5%	-$189K
14	14 iShares Russell 1000 Value ETF IWD $61.1B	$3.87M	1.86%	20,579 +474	+2%	+$89.2K
15	15 iShares Core S&P Mid-Cap ETF IJH $92.1B	$3.76M	1.81%	64,521 +8,554	+15%	+$499K
16	16 iShares Core S&P Small-Cap ETF IJR $77.4B	$3.65M	1.75%	34,873 +1,641	+5%	+$172K
17	17 SPDR S&P 500 ETF Trust SPY $632B	$3.29M	1.58%	5,887 +722	+14%	+$404K
18	18 Health Care Select Sector SPDR Fund XLV $35.4B	$3.21M	1.54%	21,955 -7,845	-26%	-$1.15M
19	19 Schwab U.S Small- Cap ETF SCHA $16.8B	$2.78M	1.33%	118,714 -3,484	-3%	-$81.6K
20	20 Schwab US Large- Cap ETF SCHX $54.4B	$2.65M	1.27%	120,076 -28,640	-19%	-$632K
21	21 Vanguard Dividend Appreciation ETF VIG $90.4B	$2.59M	1.24%	13,342 -1,957	-13%	-$380K
22	22 MidCap Financial Investment MFIC $1.14B	$2.17M	1.04%	169,085 -5,643	-3%	-$72.6K
23	23 KKR & Co KKR $108B	$2.01M	0.96%	17,387	–	–
24	24 JPMorgan Ultra-Short Income ETF JPST $31B	$1.98M	0.95%	39,151 -4,612	-11%	-$234K
25	25 Vanguard Growth ETF VUG $166B	$1.81M	0.87%	4,894 -1,414	-22%	-$524K