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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
+3.23%
1 Year Est. Return
+11.54%
3 Year Est. Return
+56.12%
5 Year Est. Return
+59.28%
10 Year Est. Return
–
AUM
$239M
AUM Growth
-$8.72M
Cap. Flow
-$16M
Cap. Flow %
-6.68%
Top 10 Hldgs %
46.38%
Holding
152
New
7
Increased
40
Reduced
48
Closed
16

Top Buys

Rank Stock Value
1
GBDC icon
Golub Capital BDC
GBDC
+$8.33M
2
IWF icon
iShares Russell 1000 Growth ETF
IWF
+$4.52M
3
IVV icon
iShares Core S&P 500 ETF
IVV
+$799K
4
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$740K
5
JPST icon
JPMorgan Ultra-Short Income ETF
JPST
+$731K

Top Sells

Rank Stock Value
1
OBDC icon
Blue Owl Capital
OBDC
+$19.4M
2
IWB icon
iShares Russell 1000 ETF
IWB
+$3.78M
3
VOO icon
Vanguard S&P 500 ETF
VOO
+$2.76M
4
AFT
Apollo Senior Floating Rate Fund Inc.
AFT
+$2.2M
5
VGT icon
Vanguard Information Technology ETF
VGT
+$1.04M

Sector Composition

Rank Sector Weight
1 Financials 12.89%
2 Technology 6.64%
3 Consumer Discretionary 6.08%
4 Communication Services 5.94%
5 Healthcare 2.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BGB
26
Blackstone Strategic Credit 2027 Term Fund
BGB
$500M
$2.49M 1.04%
209,509
-26,125
-11% -$311K
JPST icon
27
JPMorgan Ultra-Short Income ETF
JPST
$40.1B
$2.28M 0.95%
45,203
+14,524
+47% +$731K
TFX icon
28
Teleflex
TFX
$5.8B
$2.19M 0.92%
10,414
+685
+7% +$144K
MSFT icon
29
Microsoft
MSFT
$2.89T
$2.04M 0.85%
4,563
-51
-1% -$21.5K
TSLA icon
30
Tesla
TSLA
$1.22T
$1.9M 0.79%
9,579
-131
-1% -$22.9K
TSLA icon
31
PUT
Tesla
TSLA
$1.22T
$1.86M 0.78%
9,400
– –
KKR icon
32
KKR & Co
KKR
$91.3B
$1.84M 0.77%
17,483
-174
-1% -$17.7K
VOT icon
33
Vanguard Mid-Cap Growth ETF
VOT
$19.2B
$1.73M 0.72%
7,530
– –
WMT icon
34
Walmart Inc
WMT
$889B
$1.52M 0.63%
22,396
-374
-2% -$23.6K
VT icon
35
Vanguard Total World Stock ETF
VT
$76.4B
$1.38M 0.58%
4,288
+1,926
+82% +$212K
GOOG icon
36
Alphabet (Google) Class C
GOOG
$3.99T
$1.36M 0.57%
7,389
-453
-6% -$77.1K
KWEB icon
37
KraneShares CSI China Internet ETF
KWEB
$5.34B
$1.32M 0.55%
49,020
– –
EEM icon
38
iShares MSCI Emerging Markets ETF
EEM
$28.6B
$1.3M 0.54%
30,411
– –
XLF icon
39
State Street Financial Select Sector SPDR ETF
XLF
$56.7B
$1.26M 0.53%
30,674
-2,702
-8% -$111K
SHYG icon
40
iShares 0-5 Year High Yield Corporate Bond ETF
SHYG
$7.6B
$1.26M 0.53%
29,859
– –
VNQ icon
41
Vanguard Real Estate ETF
VNQ
$39.8B
$1.19M 0.5%
14,224
– –
NVDA icon
42
NVIDIA
NVDA
$4.76T
$1.17M 0.49%
9,440
-1,430
-13% -$145K
APO icon
43
Apollo Global Management
APO
$71.6B
$1.16M 0.49%
9,824
– –
BRW
44
Saba Capital Income & Opportunities Fund
BRW
$336M
$1.15M 0.48%
162,644
-3,021
-2% -$21.7K
KO icon
45
Coca-Cola
KO
$362B
$1.14M 0.48%
17,936
-161
-0.9% -$9.97K
ECL icon
46
Ecolab
ECL
$76.4B
$1.13M 0.47%
4,733
-287
-6% -$66.3K
IUSV icon
47
iShares Core S&P US Value ETF
IUSV
$27.3B
$1.12M 0.47%
12,730
+1,559
+14% +$137K
VV icon
48
Vanguard Large-Cap ETF
VV
$51.9B
$1.11M 0.46%
4,429
– –
MCD icon
49
McDonald's
MCD
$192B
$1.1M 0.46%
4,309
-76
-2% -$20.2K
PM icon
50
Philip Morris
PM
$305B
$1.09M 0.46%
10,021
+2,785
+38% +$272K
1
2
3 4 5

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Next Capital Management's Q2 2024 Portfolio in Review

As of Q2 2024, Next Capital Management held 152 positions worth $239M, down 3.5% from $248M the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Next Capital Management withdrew a net $16M in Q2 2024, closing 16 positions and reducing 48 holdings. Its most notable exit was iShares Russell 1000 ETF, an estimated $3.78M position sold in full.

By sector, the portfolio is most concentrated in Financials at 13% of assets, down from 17% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, Next Capital Management opened a new position in TransUnion worth $422K.

  • Next Capital Management's largest Q2 2024 buy was TransUnion: 5,691 shares worth $422K.
  • Next Capital Management added most to Golub Capital BDC in Q2 2024, an estimated $8.33M increase.
  • Next Capital Management's biggest Q2 2024 reduction was Blue Owl Capital, cutting an estimated $19.4M.
  • Next Capital Management fully exited iShares Russell 1000 ETF in Q2 2024, selling an estimated $3.78M.
  • Next Capital Management's ten largest holdings make up 46% of its $239M portfolio in Q2 2024.
  • Next Capital Management opened 7 new positions and closed 16 in Q2 2024.
  • Next Capital Management's portfolio value fell 3.5% quarter-over-quarter to $239M.

Based on Next Capital Management's 13F filing for Q2 2024, filed 20 Aug 2024.