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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
-2.6%
1 Year Est. Return
+11.54%
3 Year Est. Return
+56.12%
5 Year Est. Return
+59.28%
10 Year Est. Return
–
AUM
$208M
AUM Growth
-$38.6M
Cap. Flow
-$31.5M
Cap. Flow %
-15.09%
Top 10 Hldgs %
48.31%
Holding
151
New
10
Increased
29
Reduced
43
Closed
33

Top Buys

Rank Stock Value
1
BRK.A icon
Berkshire Hathaway Class A
BRK.A
+$1.46M
2
IVV icon
iShares Core S&P 500 ETF
IVV
+$799K
3
SCHB icon
Schwab US Broad Market ETF
SCHB
+$747K
4
QQQM icon
Invesco NASDAQ 100 ETF
QQQM
+$606K
5
IJH icon
iShares Core S&P Mid-Cap ETF
IJH
+$531K

Top Sells

Rank Stock Value
1
TSLA icon
Tesla
TSLA
+$3.84M
2
GBDC icon
Golub Capital BDC
GBDC
+$3.7M
3
IWB icon
iShares Russell 1000 ETF
IWB
+$2.33M
4
META icon
Meta Platforms (Facebook)
META
+$1.55M
5
AVB icon
AvalonBay Communities
AVB
+$1.24M

Sector Composition

Rank Sector Weight
1 Financials 9.85%
2 Technology 6.37%
3 Communication Services 6.06%
4 Consumer Discretionary 4.81%
5 Consumer Staples 2.59%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WMT icon
26
Walmart Inc
WMT
$909B
$1.81M 0.87%
20,600
-2,253
-10% -$211K
IWB icon
27
iShares Russell 1000 ETF
IWB
$47.1B
$1.79M 0.86%
5,845
-7,213
-55% -$2.33M
KWEB icon
28
KraneShares CSI China Internet ETF
KWEB
$5.5B
$1.71M 0.82%
49,020
-150
-0.3% -$4.97K
BRK.A icon
29
Berkshire Hathaway Class A
BRK.A
$1.1T
$1.6M 0.77%
+2
New +$1.46M
VOT icon
30
Vanguard Morningstar Mid-Cap Growth ETF
VOT
$18.9B
$1.57M 0.75%
6,430
-2,666
-29% -$693K
XLF icon
31
State Street Financial Select Sector SPDR ETF
XLF
$56.5B
$1.55M 0.74%
31,153
+1,285
+4% +$64.5K
QQQM icon
32
Invesco NASDAQ 100 ETF
QQQM
$93B
$1.51M 0.72%
7,827
+2,899
+59% +$606K
FNDX icon
33
Schwab Fundamental US Large Company Index ETF
FNDX
$26.5B
$1.5M 0.72%
63,626
+10,830
+21% +$262K
VGT icon
34
Vanguard Information Technology ETF
VGT
$133B
$1.49M 0.72%
22,040
– –
MSFT icon
35
Microsoft
MSFT
$2.9T
$1.43M 0.69%
3,818
-308
-7% -$126K
EEM icon
36
iShares MSCI Emerging Markets ETF
EEM
$27.5B
$1.43M 0.69%
32,769
-5,715
-15% -$248K
NVDA icon
37
NVIDIA
NVDA
$4.6T
$1.36M 0.65%
12,589
+94
+0.8% +$11.9K
KO icon
38
Coca-Cola
KO
$383B
$1.26M 0.61%
17,646
-10
-0.1% -$668
MCD icon
39
McDonald's
MCD
$193B
$1.26M 0.6%
4,027
-445
-10% -$133K
SCHW
40
Charles Schwab
SCHW
$182B
$1.25M 0.6%
15,982
-2,360
-13% -$185K
IUSV icon
41
iShares Core S&P US Value ETF
IUSV
$27.3B
$1.23M 0.59%
13,293
+98
+0.7% +$9.2K
PM icon
42
Philip Morris
PM
$309B
$1.17M 0.56%
7,342
+304
+4% +$43.1K
VV icon
43
Vanguard Morningstar Large-Cap ETF
VV
$51.2B
$1.15M 0.55%
4,490
+18
+0.4% +$4.88K
TFX icon
44
Teleflex
TFX
$5.96B
$1.09M 0.52%
7,880
-2,547
-24% -$413K
ECL icon
45
Ecolab
ECL
$79.8B
$1.07M 0.51%
4,230
-633
-13% -$160K
SCHD icon
46
Schwab US Dividend Equity ETF
SCHD
$104B
$1.07M 0.51%
38,290
+6,184
+19% +$172K
SHYG icon
47
iShares 0-5 Year High Yield Corporate Bond ETF
SHYG
$7.6B
$1.05M 0.5%
24,600
– –
VYM icon
48
Vanguard High Dividend Yield ETF
VYM
$80.8B
$1M 0.48%
7,778
– –
IWP icon
49
iShares Russell Mid-Cap Growth ETF
IWP
$19.4B
$933K 0.45%
7,943
+1,226
+18% +$158K
IWM icon
50
iShares Russell 2000 ETF
IWM
$79.1B
$916K 0.44%
4,594
+79
+2% +$17.1K
1
2
3 4 5

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Next Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, Next Capital Management held 151 positions worth $208M, down 16% from $247M the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Next Capital Management withdrew a net $31.5M in Q1 2025, closing 33 positions and reducing 43 holdings. Its most notable exit was Tesla, an estimated $3.84M position sold in full.

By sector, the portfolio is most concentrated in Financials at 9.8% of assets, down from 9.9% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Next Capital Management opened a new position in Berkshire Hathaway Class A worth $1.6M.

  • Next Capital Management's largest Q1 2025 buy was Berkshire Hathaway Class A: 2 shares worth $1.6M.
  • Next Capital Management added most to iShares Core S&P 500 ETF in Q1 2025, an estimated $799K increase.
  • Next Capital Management's biggest Q1 2025 reduction was Golub Capital BDC, cutting an estimated $3.7M.
  • Next Capital Management fully exited Tesla in Q1 2025, selling an estimated $3.84M.
  • Next Capital Management's ten largest holdings make up 48% of its $208M portfolio in Q1 2025.
  • Next Capital Management opened 10 new positions and closed 33 in Q1 2025.
  • Next Capital Management's portfolio value fell 16% quarter-over-quarter to $208M.

Based on Next Capital Management's 13F filing for Q1 2025, filed 6 May 2025.