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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
+9.89%
1 Year Est. Return
+11.54%
3 Year Est. Return
+56.12%
5 Year Est. Return
+59.28%
10 Year Est. Return
–
AUM
$271M
AUM Growth
+$62.1M
Cap. Flow
+$41.4M
Cap. Flow %
15.31%
Top 10 Hldgs %
47.1%
Holding
142
New
24
Increased
65
Reduced
14
Closed
5

Top Buys

Rank Stock Value
1
TCPC icon
BlackRock TCP Capital
TCPC
+$7.96M
2
MFIC icon
MidCap Financial Investment
MFIC
+$6.82M
3
VOO icon
Vanguard S&P 500 ETF
VOO
+$4.05M
4
IVV icon
iShares Core S&P 500 ETF
IVV
+$3.19M
5
IWB icon
iShares Russell 1000 ETF
IWB
+$2.16M

Top Sells

Rank Stock Value
1
SHYG icon
iShares 0-5 Year High Yield Corporate Bond ETF
SHYG
+$1.05M
2
JPST icon
JPMorgan Ultra-Short Income ETF
JPST
+$958K
3
GBDC icon
Golub Capital BDC
GBDC
+$925K
4
AEP icon
American Electric Power
AEP
+$307K
5
CVX icon
Chevron
CVX
+$203K

Sector Composition

Rank Sector Weight
1 Financials 13.93%
2 Technology 6.95%
3 Communication Services 6.33%
4 Consumer Discretionary 4.72%
5 Consumer Staples 2.36%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KKR icon
26
KKR & Co
KKR
$90.8B
$2.7M 1%
20,273
+2,886
+17% +$338K
MSFT icon
27
Microsoft
MSFT
$2.91T
$2.51M 0.93%
5,048
+1,230
+32% +$534K
VUG icon
28
Vanguard Growth ETF
VUG
$216B
$2.17M 0.8%
29,652
+288
+1% +$19K
FNDX icon
29
Schwab Fundamental US Large Company Index ETF
FNDX
$26.6B
$2.09M 0.77%
85,158
+21,532
+34% +$501K
WMT icon
30
Walmart Inc
WMT
$886B
$2.01M 0.74%
20,600
– –
QQQM icon
31
Invesco NASDAQ 100 ETF
QQQM
$95.8B
$1.85M 0.68%
8,148
+321
+4% +$65.7K
VOT icon
32
Vanguard Mid-Cap Growth ETF
VOT
$19.1B
$1.83M 0.68%
6,430
– –
VGT icon
33
Vanguard Information Technology ETF
VGT
$138B
$1.83M 0.68%
22,040
– –
XLF icon
34
State Street Financial Select Sector SPDR ETF
XLF
$56.6B
$1.7M 0.63%
32,434
+1,281
+4% +$63.4K
KWEB icon
35
KraneShares CSI China Internet ETF
KWEB
$5.35B
$1.68M 0.62%
49,020
– –
EEM icon
36
iShares MSCI Emerging Markets ETF
EEM
$28.5B
$1.66M 0.62%
34,500
+1,731
+5% +$77.8K
KO icon
37
Coca-Cola
KO
$359B
$1.54M 0.57%
21,715
+4,069
+23% +$290K
SCHW
38
Charles Schwab
SCHW
$180B
$1.52M 0.56%
16,684
+702
+4% +$58.8K
JPM icon
39
JPMorgan Chase
JPM
$940B
$1.49M 0.55%
9,644
+6,734
+231% +$1.72M
BRK.A icon
40
Berkshire Hathaway Class A
BRK.A
$1.07T
$1.46M 0.54%
2
– –
PM icon
41
Philip Morris
PM
$304B
$1.38M 0.51%
7,588
+246
+3% +$42.2K
MCD icon
42
McDonald's
MCD
$192B
$1.37M 0.51%
4,684
+657
+16% +$203K
NFLX icon
43
Netflix
NFLX
$296B
$1.34M 0.5%
10,020
+590
+6% +$66.7K
LLY icon
44
Eli Lilly
LLY
$1.07T
$1.33M 0.49%
1,704
+814
+91% +$633K
VV icon
45
Vanguard Large-Cap ETF
VV
$51.9B
$1.29M 0.48%
4,509
+19
+0.4% +$5.01K
IUSV icon
46
iShares Core S&P US Value ETF
IUSV
$27.3B
$1.28M 0.47%
13,547
+254
+2% +$22.9K
IWP icon
47
iShares Russell Mid-Cap Growth ETF
IWP
$19.8B
$1.28M 0.47%
9,230
+1,287
+16% +$163K
TFX icon
48
Teleflex
TFX
$5.92B
$1.23M 0.46%
10,423
+2,543
+32% +$321K
GOOGL icon
49
Alphabet (Google) Class A
GOOGL
$4.01T
$1.23M 0.45%
6,972
+3,945
+130% +$646K
GOOG icon
50
Alphabet (Google) Class C
GOOG
$4.01T
$1.2M 0.44%
6,784
+3,105
+84% +$513K
1
2
3 4 5

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Next Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Next Capital Management held 142 positions worth $271M, up 30% from $208M the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Next Capital Management deployed $41.4M of net new capital in Q2 2025, opening 24 new positions and adding to 65 existing holdings. Its largest new stake was MongoDB: 4,297 shares worth $902K.

By sector, the portfolio is most concentrated in Financials at 14% of assets, up from 9.8% a quarter earlier, followed by Technology and Communication Services.

On the sell side, the largest reduction was JPMorgan Ultra-Short Income ETF, an estimated $958K trimmed.

  • Next Capital Management's largest Q2 2025 buy was MongoDB: 4,297 shares worth $902K.
  • Next Capital Management added most to BlackRock TCP Capital in Q2 2025, an estimated $7.96M increase.
  • Next Capital Management's biggest Q2 2025 reduction was JPMorgan Ultra-Short Income ETF, cutting an estimated $958K.
  • Next Capital Management fully exited iShares 0-5 Year High Yield Corporate Bond ETF in Q2 2025, selling an estimated $1.05M.
  • Next Capital Management's ten largest holdings make up 47% of its $271M portfolio in Q2 2025.
  • Next Capital Management opened 24 new positions and closed 5 in Q2 2025.
  • Next Capital Management's portfolio value rose 30% quarter-over-quarter to $271M.

Based on Next Capital Management's 13F filing for Q2 2025, filed 5 Aug 2025.