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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
+5.88%
1 Year Est. Return
+11.54%
3 Year Est. Return
+56.12%
5 Year Est. Return
+59.28%
10 Year Est. Return
–
AUM
$185M
AUM Growth
+$53.1M
Cap. Flow
+$48.1M
Cap. Flow %
25.92%
Top 10 Hldgs %
48.84%
Holding
131
New
19
Increased
37
Reduced
37
Closed
7

Top Buys

Rank Stock Value
1
OBDC icon
Blue Owl Capital
OBDC
+$17.1M
2
GBDC icon
Golub Capital BDC
GBDC
+$6.83M
3
SHYG icon
iShares 0-5 Year High Yield Corporate Bond ETF
SHYG
+$5.6M
4
IVW icon
iShares S&P 500 Growth ETF
IVW
+$3.65M
5
IWF icon
iShares Russell 1000 Growth ETF
IWF
+$2.78M

Top Sells

Rank Stock Value
1
BRW
Saba Capital Income & Opportunities Fund
BRW
+$711K
2
QQQ icon
Invesco QQQ Trust
QQQ
+$488K
3
NSL
NUVEEN SENIOR INCM FD
NSL
+$454K
4
XLF icon
State Street Financial Select Sector SPDR ETF
XLF
+$409K
5
NEA icon
Nuveen AMT-Free Quality Municipal Income Fund
NEA
+$318K

Sector Composition

Rank Sector Weight
1 Financials 22.79%
2 Technology 3.8%
3 Consumer Discretionary 3.14%
4 Healthcare 2.89%
5 Communication Services 2.17%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TSLA icon
26
Tesla
TSLA
$1.2T
$1.88M 1.01%
11,531
+1,169
+11% +$221K
AMZN icon
27
Amazon
AMZN
$2.45T
$1.83M 0.98%
21,735
+7,215
+50% +$713K
JPST icon
28
JPMorgan Ultra-Short Income ETF
JPST
$40.1B
$1.68M 0.91%
33,499
-2,185
-6% -$110K
IJH icon
29
iShares Core S&P Mid-Cap ETF
IJH
$122B
$1.67M 0.9%
34,530
+1,405
+4% +$67.9K
BRW
30
Saba Capital Income & Opportunities Fund
BRW
$335M
$1.46M 0.79%
191,327
-90,840
-32% -$711K
VOT icon
31
Vanguard Mid-Cap Growth ETF
VOT
$19B
$1.35M 0.73%
7,530
– –
IWB icon
32
iShares Russell 1000 ETF
IWB
$47.5B
$1.32M 0.71%
6,276
+1,095
+21% +$232K
KO icon
33
Coca-Cola
KO
$390B
$1.26M 0.68%
19,820
-141
-0.7% -$8.51K
BX icon
34
Blackstone
BX
$103B
$1.22M 0.66%
16,415
+2,574
+19% +$222K
VNQ icon
35
Vanguard Real Estate ETF
VNQ
$39.9B
$1.17M 0.63%
14,224
– –
VOO icon
36
Vanguard S&P 500 ETF
VOO
$963B
$1.09M 0.59%
3,104
+11
+0.4% +$3.89K
CSGS
37
DELISTED
CSG Systems International
CSGS
$1.05M 0.57%
18,318
-12
-0.1% -$705
EFT
38
Eaton Vance Floating-Rate Income Trust
EFT
$283M
$1.03M 0.56%
93,219
+19,900
+27% +$225K
APO icon
39
Apollo Global Management
APO
$69.8B
$1.02M 0.55%
15,997
-22
-0.1% -$1.31K
MCD icon
40
McDonald's
MCD
$193B
$1.01M 0.55%
3,837
-9
-0.2% -$2.37K
IWP icon
41
iShares Russell Mid-Cap Growth ETF
IWP
$19.5B
$1M 0.54%
+12,011
New +$1.01M
BRT
42
BRT Apartments
BRT
$283M
$982K 0.53%
+50,000
New +$1.03M
NRK icon
43
Nuveen New York AMT-Free Quality Municipal Income Fund
NRK
$902M
$920K 0.5%
89,704
– –
WMT icon
44
Walmart Inc
WMT
$902B
$903K 0.49%
19,107
-45
-0.2% -$2.14K
EMLP icon
45
First Trust North American Energy Infrastructure Fund
EMLP
$4.15B
$894K 0.48%
33,496
+9,328
+39% +$248K
IEMG icon
46
iShares Core MSCI Emerging Markets ETF
IEMG
$145B
$847K 0.46%
18,146
+4,641
+34% +$211K
KKR icon
47
KKR & Co
KKR
$89.4B
$812K 0.44%
17,483
-20
-0.1% -$975
OLP
48
One Liberty Properties
OLP
$548M
$800K 0.43%
+35,989
New +$824K
VV icon
49
Vanguard Large-Cap ETF
VV
$51.6B
$772K 0.42%
4,429
– –
LLY icon
50
Eli Lilly
LLY
$1.09T
$766K 0.41%
2,095
+14
+0.7% +$4.96K
1
2
3 4 5

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Next Capital Management's Q4 2022 Portfolio in Review

As of Q4 2022, Next Capital Management held 131 positions worth $185M, up 40% from $132M the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Next Capital Management deployed $48.1M of net new capital in Q4 2022, opening 19 new positions and adding to 37 existing holdings. Its largest new stake was BRT Apartments: 50,000 shares worth $982K.

By sector, the portfolio is most concentrated in Financials at 23% of assets, up from 12% a quarter earlier, followed by Technology and Consumer Discretionary.

On the sell side, the largest reduction was Saba Capital Income & Opportunities Fund, an estimated $711K trimmed.

  • Next Capital Management's largest Q4 2022 buy was BRT Apartments: 50,000 shares worth $982K.
  • Next Capital Management added most to Blue Owl Capital in Q4 2022, an estimated $17.1M increase.
  • Next Capital Management's biggest Q4 2022 reduction was Saba Capital Income & Opportunities Fund, cutting an estimated $711K.
  • Next Capital Management fully exited Nuveen AMT-Free Quality Municipal Income Fund in Q4 2022, selling an estimated $318K.
  • Next Capital Management's ten largest holdings make up 49% of its $185M portfolio in Q4 2022.
  • Next Capital Management opened 19 new positions and closed 7 in Q4 2022.
  • Next Capital Management's portfolio value rose 40% quarter-over-quarter to $185M.

Based on Next Capital Management's 13F filing for Q4 2022, filed 12 Jan 2023.