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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
+10.23%
1 Year Est. Return
+11.54%
3 Year Est. Return
+56.12%
5 Year Est. Return
+59.28%
10 Year Est. Return
–
AUM
$235M
AUM Growth
+$11.7M
Cap. Flow
-$9.98M
Cap. Flow %
-4.25%
Top 10 Hldgs %
48.32%
Holding
131
New
16
Increased
32
Reduced
26
Closed
6

Top Buys

Rank Stock Value
1
VOO icon
Vanguard S&P 500 ETF
VOO
+$3.73M
2
VYM icon
Vanguard High Dividend Yield ETF
VYM
+$1.41M
3
IUSV icon
iShares Core S&P US Value ETF
IUSV
+$759K
4
IEMG icon
iShares Core MSCI Emerging Markets ETF
IEMG
+$524K
5
VIG icon
Vanguard Dividend Appreciation ETF
VIG
+$473K

Top Sells

Rank Stock Value
1
AMZN icon
Amazon
AMZN
+$9.23M
2
GBDC icon
Golub Capital BDC
GBDC
+$5.06M
3
OBDC icon
Blue Owl Capital
OBDC
+$1.68M
4
XLF icon
State Street Financial Select Sector SPDR ETF
XLF
+$1.14M
5
BX icon
Blackstone
BX
+$905K

Sector Composition

Rank Sector Weight
1 Financials 21.06%
2 Consumer Discretionary 7.83%
3 Technology 4.06%
4 Communication Services 3.95%
5 Consumer Staples 1.58%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IJH icon
26
iShares Core S&P Mid-Cap ETF
IJH
$121B
$2.43M 1.04%
43,890
+940
+2% +$47.7K
TFX icon
27
Teleflex
TFX
$5.89B
$2.43M 1.03%
9,726
+3
+0% +$641
TSLA icon
28
Tesla
TSLA
$1.2T
$2.34M 1%
9,428
-941
-9% -$224K
TSLA icon
29
PUT
Tesla
TSLA
$1.2T
$2.34M 0.99%
9,400
– –
IWB icon
30
iShares Russell 1000 ETF
IWB
$47.6B
$1.95M 0.83%
7,418
-161
-2% -$39.4K
XLF icon
31
State Street Financial Select Sector SPDR ETF
XLF
$56.9B
$1.87M 0.8%
49,784
-32,857
-40% -$1.14M
VOT icon
32
Vanguard Mid-Cap Growth ETF
VOT
$19B
$1.65M 0.7%
7,530
– –
JPST icon
33
JPMorgan Ultra-Short Income ETF
JPST
$40.1B
$1.62M 0.69%
32,322
+41
+0.1% +$2.06K
VYM icon
34
Vanguard High Dividend Yield ETF
VYM
$81.4B
$1.5M 0.64%
+13,427
New +$1.41M
KKR icon
35
KKR & Co
KKR
$90.7B
$1.45M 0.62%
17,483
– –
SHYG icon
36
iShares 0-5 Year High Yield Corporate Bond ETF
SHYG
$7.59B
$1.39M 0.59%
32,806
+43
+0.1% +$1.77K
VNQ icon
37
Vanguard Real Estate ETF
VNQ
$39.9B
$1.26M 0.54%
14,224
– –
SPY icon
38
State Street SPDR S&P 500 ETF Trust
SPY
$779B
$1.22M 0.52%
2,573
+32
+1% +$14.3K
EEM icon
39
iShares MSCI Emerging Markets ETF
EEM
$27.7B
$1.22M 0.52%
30,411
+2,854
+10% +$110K
MCD icon
40
McDonald's
MCD
$193B
$1.22M 0.52%
4,115
+197
+5% +$53.6K
BRW
41
Saba Capital Income & Opportunities Fund
BRW
$337M
$1.18M 0.5%
152,705
– –
MSFT icon
42
Microsoft
MSFT
$2.94T
$1.16M 0.49%
3,072
+464
+18% +$165K
WMT icon
43
Walmart Inc
WMT
$908B
$1.14M 0.48%
21,600
+2,214
+11% +$117K
IWM icon
44
iShares Russell 2000 ETF
IWM
$79.5B
$1.12M 0.48%
5,583
-1,012
-15% -$181K
KO icon
45
Coca-Cola
KO
$386B
$1.04M 0.44%
17,636
+186
+1% +$10.6K
CSGS
46
DELISTED
CSG Systems International
CSGS
$975K 0.41%
18,318
– –
VV icon
47
Vanguard Large-Cap ETF
VV
$51.7B
$966K 0.41%
4,429
– –
VGT icon
48
Vanguard Information Technology ETF
VGT
$135B
$963K 0.41%
15,912
+512
+3% +$28.5K
BRT
49
BRT Apartments
BRT
$283M
$936K 0.4%
50,351
– –
APO icon
50
Apollo Global Management
APO
$69.9B
$915K 0.39%
9,824
– –
1
2
3 4 5

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Next Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Next Capital Management held 131 positions worth $235M, up 5.3% from $223M the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Next Capital Management withdrew a net $9.98M in Q4 2023, closing 6 positions and reducing 26 holdings. Its most notable exit was Activision Blizzard, an estimated $449K position sold in full.

By sector, the portfolio is most concentrated in Financials at 21% of assets, down from 24% a quarter earlier, followed by Consumer Discretionary and Technology.

Against the trend, Next Capital Management opened a new position in Vanguard High Dividend Yield ETF worth $1.5M.

  • Next Capital Management's largest Q4 2023 buy was Vanguard High Dividend Yield ETF: 13,427 shares worth $1.5M.
  • Next Capital Management added most to Vanguard S&P 500 ETF in Q4 2023, an estimated $3.73M increase.
  • Next Capital Management's biggest Q4 2023 reduction was Amazon, cutting an estimated $9.23M.
  • Next Capital Management fully exited Activision Blizzard in Q4 2023, selling an estimated $449K.
  • Next Capital Management's ten largest holdings make up 48% of its $235M portfolio in Q4 2023.
  • Next Capital Management opened 16 new positions and closed 6 in Q4 2023.
  • Next Capital Management's portfolio value rose 5.3% quarter-over-quarter to $235M.

Based on Next Capital Management's 13F filing for Q4 2023, filed 19 Jan 2024.