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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
-5.48%
1 Year Est. Return
+11.54%
3 Year Est. Return
+56.12%
5 Year Est. Return
+59.28%
10 Year Est. Return
–
AUM
$330M
AUM Growth
+$17.8M
Cap. Flow
+$38.1M
Cap. Flow %
11.55%
Top 10 Hldgs %
48.16%
Holding
151
New
15
Increased
60
Reduced
24
Closed
17

Top Buys

1
OBDC icon
Blue Owl Capital
OBDC
+$14.3M
2
MFIC icon
MidCap Financial Investment
MFIC
+$4.27M
3
GBDC icon
Golub Capital BDC
GBDC
+$4.14M
4
KKR icon
KKR & Co
KKR
+$2.9M
5
APO icon
Apollo Global Management
APO
+$2.49M

Top Sells

1
BRK.A icon
Berkshire Hathaway Class A
BRK.A
+$1.51M
2
TFX icon
Teleflex
TFX
+$1.27M
3
QQQ icon
Invesco QQQ Trust
QQQ
+$810K
4
CSGS
CSG Systems International
CSGS
+$690K
5
BIZD icon
VanEck BDC Income ETF
BIZD
+$652K

Sector Composition

1 Financials 22.98%
2 Technology 5.22%
3 Communication Services 4.26%
4 Consumer Discretionary 3.09%
5 Healthcare 1.14%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SCHA icon
26
Schwab U.S Small- Cap ETF
SCHA
$22.8B
$3.14M 0.95%
107,890
-11,252
-9% -$337K
SCHX icon
27
Schwab US Large- Cap ETF
SCHX
$72.4B
$2.93M 0.89%
114,110
+458
+0.4% +$12.3K
QQQM icon
28
Invesco NASDAQ 100 ETF
QQQM
$97.7B
$2.65M 0.8%
11,148
-27
-0.2% -$6.75K
XLV icon
29
State Street Health Care Select Sector SPDR ETF
XLV
$41.5B
$2.64M 0.8%
18,001
+36
+0.2% +$5.55K
BX icon
30
Blackstone
BX
$158B
$2.57M 0.78%
22,322
+17,762
+390% +$2.31M
APO icon
31
Apollo Global Management
APO
$71.1B
$2.44M 0.74%
21,863
+20,104
+1,143% +$2.49M
VUG icon
32
Vanguard Growth ETF
VUG
$224B
$2.21M 0.67%
30,402
+750
+3% +$58.3K
CRM icon
33
Salesforce
CRM
$141B
$2.12M 0.64%
+11,350
New +$2.35M
MSFT icon
34
Microsoft
MSFT
$2.98T
$2.09M 0.63%
5,653
+1,441
+34% +$603K
EEM icon
35
iShares MSCI Emerging Markets ETF
EEM
$28.4B
$2.08M 0.63%
36,624
+1,750
+5% +$103K
IUSV icon
36
iShares Core S&P US Value ETF
IUSV
$27.2B
$2M 0.61%
19,560
-821
-4% -$86.1K
VGT icon
37
Vanguard Information Technology ETF
VGT
$140B
$1.93M 0.59%
22,184
– –
GOOGL icon
38
Alphabet (Google) Class A
GOOGL
$4.33T
$1.92M 0.58%
6,679
+164
+3% +$51.5K
GOOG icon
39
Alphabet (Google) Class C
GOOG
$4.32T
$1.82M 0.55%
6,361
-26
-0.4% -$8.17K
XLF icon
40
State Street Financial Select Sector SPDR ETF
XLF
$55.3B
$1.7M 0.52%
34,508
+1,604
+5% +$83.6K
LLY icon
41
Eli Lilly
LLY
$1.04T
$1.63M 0.49%
1,768
– –
VV icon
42
Vanguard Large-Cap ETF
VV
$52.7B
$1.61M 0.49%
5,376
+867
+19% +$271K
SCHW
43
Charles Schwab
SCHW
$179B
$1.59M 0.48%
16,923
+600
+4% +$58.8K
IWP icon
44
iShares Russell Mid-Cap Growth ETF
IWP
$20.3B
$1.49M 0.45%
11,643
+2,401
+26% +$325K
KWEB icon
45
KraneShares CSI China Internet ETF
KWEB
$5.45B
$1.39M 0.42%
49,020
– –
JNJ icon
46
Johnson & Johnson
JNJ
$602B
$1.35M 0.41%
5,530
-62
-1% -$14.4K
GS icon
47
Goldman Sachs
GS
$323B
$1.3M 0.39%
1,535
+120
+8% +$107K
VOT icon
48
Vanguard Mid-Cap Growth ETF
VOT
$19.2B
$1.29M 0.39%
5,020
– –
KO icon
49
Coca-Cola
KO
$365B
$1.26M 0.38%
16,611
+225
+1% +$17K
SCHD icon
50
Schwab US Dividend Equity ETF
SCHD
$100B
$1.26M 0.38%
40,920
+539
+1% +$16.4K
1
2
3 4 5

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Next Capital Management's Q1 2026 Portfolio in Review

As of Q1 2026, Next Capital Management held 151 positions worth $330M, up 5.7% from $312M the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Next Capital Management deployed $38.1M of net new capital in Q1 2026, opening 15 new positions and adding to 60 existing holdings. Its largest new stake was Salesforce: 11,350 shares worth $2.12M.

By sector, the portfolio is most concentrated in Financials at 23% of assets, up from 17% a quarter earlier, followed by Technology and Communication Services.

On the sell side, the largest reduction was Invesco QQQ Trust, an estimated $810K trimmed.

  • Next Capital Management's largest Q1 2026 buy was Salesforce: 11,350 shares worth $2.12M.
  • Next Capital Management added most to Blue Owl Capital in Q1 2026, an estimated $14.3M increase.
  • Next Capital Management's biggest Q1 2026 reduction was Invesco QQQ Trust, cutting an estimated $810K.
  • Next Capital Management fully exited Berkshire Hathaway Class A in Q1 2026, selling an estimated $1.51M.
  • Next Capital Management's ten largest holdings make up 48% of its $330M portfolio in Q1 2026.
  • Next Capital Management opened 15 new positions and closed 17 in Q1 2026.
  • Next Capital Management's portfolio value rose 5.7% quarter-over-quarter to $330M.

Based on Next Capital Management's 13F filing for Q1 2026, filed 7 May 2026.