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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
CXT icon
26
Crane NXT
CXT
$3.08B
$1.63M 1.17%
54,381
– –
BGB
27
Blackstone Strategic Credit 2027 Term Fund
BGB
$500M
$1.61M 1.15%
112,024
-13,099
-10% -$185K
VWO icon
28
Vanguard FTSE Emerging Markets ETF
VWO
$119B
$1.6M 1.14%
35,933
-965
-3% -$40.9K
IVW icon
29
iShares S&P 500 Growth ETF
IVW
$72.2B
$1.47M 1.05%
30,328
-24
-0.1% -$1.11K
AAPL icon
30
Apple
AAPL
$4.93T
$1.41M 1.01%
19,160
-16,280
-46% -$1.05M
VNQ icon
31
Vanguard Real Estate ETF
VNQ
$39.9B
$1.32M 0.94%
14,224
– –
JSD
32
DELISTED
NUVEEN SHORT DURATION CREDIT OPPORTUNITIES FUND
JSD
$1.16M 0.83%
76,132
+5,500
+8% +$81.1K
IEMG icon
33
iShares Core MSCI Emerging Markets ETF
IEMG
$150B
$1.03M 0.74%
19,233
+2,168
+13% +$112K
VOT icon
34
Vanguard Mid-Cap Growth ETF
VOT
$19.1B
$972K 0.7%
6,120
– –
SPY icon
35
State Street SPDR S&P 500 ETF Trust
SPY
$781B
$950K 0.68%
2,950
+439
+17% +$135K
TOTL icon
36
State Street DoubleLine Total Return Tactical ETF
TOTL
$4.1B
$941K 0.67%
19,206
-899
-4% -$44.1K
KO icon
37
Coca-Cola
KO
$361B
$898K 0.64%
16,215
-350
-2% -$18.8K
EMLP icon
38
First Trust North American Energy Infrastructure Fund
EMLP
$4.13B
$851K 0.61%
33,380
-7,587
-19% -$189K
FG
39
DELISTED
FGL Holdings Ordinary Shares
FG
$805K 0.58%
75,583
– –
NXJ
40
DELISTED
Nuveen New Jersey Quality Municipal Income Fund
NXJ
$755K 0.54%
51,470
+21,427
+71% +$311K
BOND icon
41
PIMCO Active Bond Exchange-Traded Fund
BOND
$8.4B
$707K 0.51%
6,544
-362
-5% -$39.2K
IWN icon
42
iShares Russell 2000 Value ETF
IWN
$14.4B
$659K 0.47%
+4,214
New +$521K
VV icon
43
Vanguard Large-Cap ETF
VV
$51.9B
$655K 0.47%
4,429
– –
QQQ icon
44
Invesco QQQ Trust
QQQ
$449B
$635K 0.45%
2,985
-116
-4% -$23.2K
TPYP icon
45
Tortoise North American Pipeline ETF
TPYP
$876M
$633K 0.45%
26,934
-93,612
-78% -$2.13M
NAN icon
46
Nuveen New York Quality Municipal Income Fund
NAN
$370M
$631K 0.45%
44,427
-4,098
-8% -$57.8K
KKR icon
47
KKR & Co
KKR
$90.9B
$540K 0.39%
18,500
– –
SCHM icon
48
Schwab US Mid-Cap ETF
SCHM
$14.6B
$535K 0.38%
26,661
-29,211
-52% -$566K
IWC icon
49
iShares Micro-Cap ETF
IWC
$1.45B
$532K 0.38%
5,343
-4,112
-43% -$380K
CMCSA icon
50
Comcast
CMCSA
$81.6B
$519K 0.37%
11,530
– –
1
2
3 4 5

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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.