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NCM

Next Capital Management Portfolio holdings

AUM $330M
1-Year Est. Return 11.54%
This Fund
S&P 500
This Quarter Est. Return
+6.52%
1 Year Est. Return
+11.54%
3 Year Est. Return
+56.12%
5 Year Est. Return
+59.28%
10 Year Est. Return
–
AUM
$140M
AUM Growth
-$9.33M
Cap. Flow
-$10.4M
Cap. Flow %
-7.41%
Top 10 Hldgs %
47.3%
Holding
264
New
7
Increased
21
Reduced
36
Closed
172

Top Buys

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$3.05M
2
KYN icon
Kayne Anderson Energy Infrastructure Fund
KYN
+$1.7M
3
FRA icon
BlackRock Floating Rate Income Strategies Fund
FRA
+$815K
4
BRW
Saba Capital Income & Opportunities Fund
BRW
+$764K
5
IWN icon
iShares Russell 2000 Value ETF
IWN
+$521K

Top Sells

Rank Stock Value
1
SCHX icon
Schwab US Large- Cap ETF
SCHX
+$7.88M
2
TPYP icon
Tortoise North American Pipeline ETF
TPYP
+$2.13M
3
IEFA icon
iShares Core MSCI EAFE ETF
IEFA
+$1.92M
4
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$1.58M
5
JPST icon
JPMorgan Ultra-Short Income ETF
JPST
+$1.27M

Sector Composition

Rank Sector Weight
1 Healthcare 7.35%
2 Communication Services 5.07%
3 Financials 3.4%
4 Technology 1.95%
5 Industrials 1.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XEL icon
226
Xcel Energy
XEL
$49.6B
– –
-434
Closed -$28K
XLF icon
227
State Street Financial Select Sector SPDR ETF
XLF
$56.9B
– –
-4,059
Closed -$114K
XLV icon
228
State Street Health Care Select Sector SPDR ETF
XLV
$43.4B
– –
-225
Closed -$20K
XOM icon
229
ExxonMobil
XOM
$654B
– –
-1,291
Closed -$91K
ZTS icon
230
Zoetis
ZTS
$33.1B
– –
-115
Closed -$14K
CPAY icon
231
Corpay
CPAY
$25.5B
– –
-45
Closed -$13K
AGR
232
DELISTED
Avangrid, Inc.
AGR
– –
-1,260
Closed -$66K
LL
233
DELISTED
LL Flooring Holdings, Inc.
LL
– –
-5,900
Closed -$58K
FIF
234
DELISTED
FIRST TRUST ENERGY INFRASTRUCTURE FUND
FIF
– –
-2,440
Closed -$40K
KMF
235
DELISTED
Kayne Anderson NextGen Energy & Infrastructure, Inc.
KMF
– –
-4,400
Closed -$48K
JPS
236
DELISTED
Nuveen Preferred & Income Securities Fund
JPS
– –
-1,598
Closed -$16K
NUVA
237
DELISTED
NuVasive, Inc.
NUVA
– –
-465
Closed -$29K
FRC
238
DELISTED
First Republic Bank
FRC
– –
-95
Closed -$9K
TWTR
239
DELISTED
Twitter, Inc.
TWTR
– –
-7,000
Closed -$288K
RDS.A
240
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
– –
-402
Closed -$24K
SHLO
241
DELISTED
Shiloh Industries Inc
SHLO
– –
-20,000
Closed -$83K
LM
242
DELISTED
Legg Mason, Inc.
LM
– –
-120
Closed -$5K
PTLA
243
DELISTED
Portola Pharmaceuticals, Inc.
PTLA
– –
-1,000
Closed -$27K
AGN
244
DELISTED
Allergan plc
AGN
– –
-451
Closed -$76K
LPT
245
DELISTED
Liberty Property Trust
LPT
– –
-1,090
Closed -$56K
NTC
246
DELISTED
Nuveen Connecticut Quality Municipal Income Fund
NTC
– –
-56,497
Closed -$758K
AABA
247
DELISTED
Altaba Inc
AABA
– –
-400
Closed -$8K
NVIV
248
DELISTED
InVivo Therapeutics Holdings Corp
NVIV
– –
-2
Closed -$1K
SRSC
249
DELISTED
SEARS Canada Inc.
SRSC
– –
-128
Closed –
6 7 8 9
10

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Next Capital Management's Q4 2019 Portfolio in Review

As of Q4 2019, Next Capital Management held 264 positions worth $140M, down 6.3% from $149M the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Next Capital Management withdrew a net $10.4M in Q4 2019, closing 172 positions and reducing 36 holdings. Its most notable exit was iShares Russell 2000 ETF, an estimated $891K position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 7.3% of assets, up from 6.6% a quarter earlier, followed by Communication Services and Financials.

Against the trend, Next Capital Management opened a new position in iShares Russell 2000 Value ETF worth $659K.

  • Next Capital Management's largest Q4 2019 buy was iShares Russell 2000 Value ETF: 4,214 shares worth $659K.
  • Next Capital Management added most to iShares Core S&P 500 ETF in Q4 2019, an estimated $3.05M increase.
  • Next Capital Management's biggest Q4 2019 reduction was Schwab US Large- Cap ETF, cutting an estimated $7.88M.
  • Next Capital Management fully exited iShares Russell 2000 ETF in Q4 2019, selling an estimated $891K.
  • Next Capital Management's ten largest holdings make up 47% of its $140M portfolio in Q4 2019.
  • Next Capital Management opened 7 new positions and closed 172 in Q4 2019.
  • Next Capital Management's portfolio value fell 6.3% quarter-over-quarter to $140M.

Based on Next Capital Management's 13F filing for Q4 2019, filed 12 Feb 2020.