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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
+6.52%
1 Year Est. Return
+11.54%
3 Year Est. Return
+56.12%
5 Year Est. Return
+59.28%
10 Year Est. Return
–
AUM
$140M
AUM Growth
-$9.33M
Cap. Flow
-$10.4M
Cap. Flow %
-7.41%
Top 10 Hldgs %
47.3%
Holding
264
New
7
Increased
21
Reduced
36
Closed
172

Top Buys

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$3.05M
2
KYN icon
Kayne Anderson Energy Infrastructure Fund
KYN
+$1.7M
3
FRA icon
BlackRock Floating Rate Income Strategies Fund
FRA
+$815K
4
BRW
Saba Capital Income & Opportunities Fund
BRW
+$764K
5
IWN icon
iShares Russell 2000 Value ETF
IWN
+$521K

Top Sells

Rank Stock Value
1
SCHX icon
Schwab US Large- Cap ETF
SCHX
+$7.88M
2
TPYP icon
Tortoise North American Pipeline ETF
TPYP
+$2.13M
3
IEFA icon
iShares Core MSCI EAFE ETF
IEFA
+$1.92M
4
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$1.58M
5
JPST icon
JPMorgan Ultra-Short Income ETF
JPST
+$1.27M

Sector Composition

Rank Sector Weight
1 Healthcare 7.35%
2 Communication Services 5.07%
3 Financials 3.4%
4 Technology 1.95%
5 Industrials 1.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NMY
76
DELISTED
Nuveen Maryland Quality Municipal Income Fund
NMY
$197K 0.14%
14,623
+7,520
+106% +$101K
PRF icon
77
Invesco FTSE RAFI US 1000 ETF
PRF
$9.76B
$163K 0.12%
6,435
– –
GE icon
78
GE Aerospace
GE
$375B
$161K 0.12%
2,889
– –
RWL icon
79
Invesco S&P 500 Revenue ETF
RWL
$9.57B
$155K 0.11%
2,660
– –
FLXN
80
DELISTED
Flexion Therapeutics, Inc.
FLXN
$153K 0.11%
7,390
– –
FNDX icon
81
Schwab Fundamental US Large Company Index ETF
FNDX
$26.6B
$149K 0.11%
10,473
-5,136
-33% -$70.1K
VB icon
82
Vanguard Small-Cap ETF
VB
$79.9B
$146K 0.1%
882
+205
+30% +$32.7K
VZ icon
83
Verizon
VZ
$198B
$144K 0.1%
2,341
+637
+37% +$38.4K
GBDC icon
84
Golub Capital BDC
GBDC
$3.36B
$129K 0.09%
7,127
– –
SCHF icon
85
Schwab International Equity ETF
SCHF
$65.9B
$126K 0.09%
7,502
-4,040
-35% -$66.5K
FTEC icon
86
Fidelity MSCI Information Technology Index ETF
FTEC
$19.7B
$121K 0.09%
+1,665
New +$113K
ET icon
87
Energy Transfer Partners
ET
$68.5B
$105K 0.08%
8,208
– –
BND icon
88
Vanguard Total Bond Market
BND
$158B
$104K 0.07%
1,239
– –
NLY icon
89
Annaly Capital Management
NLY
$16.9B
$97K 0.07%
2,578
+1,314
+104% +$47.9K
XOG
90
DELISTED
Extraction Oil & Gas, Inc. Common Stock
XOG
$35K 0.03%
+16,523
New +$33.8K
CNVS icon
91
Cineverse
CNVS
$58.8M
$9K 0.01%
654
– –
CXT icon
92
PUT
Crane NXT
CXT
$3.12B
$9K 0.01%
+54,125
New +$1.54M
ABT icon
93
Abbott
ABT
$182B
– –
-250
Closed -$21K
ACWX icon
94
iShares MSCI ACWI ex US ETF
ACWX
$11.4B
– –
-1,850
Closed -$85K
ADBE icon
95
Adobe
ADBE
$94.5B
– –
-191
Closed -$53K
ADMA icon
96
ADMA Biologics
ADMA
$1.97B
– –
-79
Closed –
ADP icon
97
Automatic Data Processing
ADP
$102B
– –
-600
Closed -$97K
ADSK icon
98
Autodesk
ADSK
$47.7B
– –
-172
Closed -$25K
ALC icon
99
Alcon
ALC
$32.8B
– –
-200
Closed -$12K
ALGN icon
100
Align Technology
ALGN
$12B
– –
-180
Closed -$33K
2 3
4
5 6

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Next Capital Management's Q4 2019 Portfolio in Review

As of Q4 2019, Next Capital Management held 264 positions worth $140M, down 6.3% from $149M the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Next Capital Management withdrew a net $10.4M in Q4 2019, closing 172 positions and reducing 36 holdings. Its most notable exit was iShares Russell 2000 ETF, an estimated $891K position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 7.3% of assets, up from 6.6% a quarter earlier, followed by Communication Services and Financials.

Against the trend, Next Capital Management opened a new position in iShares Russell 2000 Value ETF worth $659K.

  • Next Capital Management's largest Q4 2019 buy was iShares Russell 2000 Value ETF: 4,214 shares worth $659K.
  • Next Capital Management added most to iShares Core S&P 500 ETF in Q4 2019, an estimated $3.05M increase.
  • Next Capital Management's biggest Q4 2019 reduction was Schwab US Large- Cap ETF, cutting an estimated $7.88M.
  • Next Capital Management fully exited iShares Russell 2000 ETF in Q4 2019, selling an estimated $891K.
  • Next Capital Management's ten largest holdings make up 47% of its $140M portfolio in Q4 2019.
  • Next Capital Management opened 7 new positions and closed 172 in Q4 2019.
  • Next Capital Management's portfolio value fell 6.3% quarter-over-quarter to $140M.

Based on Next Capital Management's 13F filing for Q4 2019, filed 12 Feb 2020.