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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
+5.88%
1 Year Est. Return
+11.54%
3 Year Est. Return
+56.12%
5 Year Est. Return
+59.28%
10 Year Est. Return
–
AUM
$185M
AUM Growth
+$53.1M
Cap. Flow
+$48.1M
Cap. Flow %
25.92%
Top 10 Hldgs %
48.84%
Holding
131
New
19
Increased
37
Reduced
37
Closed
7

Top Buys

Rank Stock Value
1
OBDC icon
Blue Owl Capital
OBDC
+$17.1M
2
GBDC icon
Golub Capital BDC
GBDC
+$6.83M
3
SHYG icon
iShares 0-5 Year High Yield Corporate Bond ETF
SHYG
+$5.6M
4
IVW icon
iShares S&P 500 Growth ETF
IVW
+$3.65M
5
IWF icon
iShares Russell 1000 Growth ETF
IWF
+$2.78M

Top Sells

Rank Stock Value
1
BRW
Saba Capital Income & Opportunities Fund
BRW
+$711K
2
QQQ icon
Invesco QQQ Trust
QQQ
+$488K
3
NSL
NUVEEN SENIOR INCM FD
NSL
+$454K
4
XLF icon
State Street Financial Select Sector SPDR ETF
XLF
+$409K
5
NEA icon
Nuveen AMT-Free Quality Municipal Income Fund
NEA
+$318K

Sector Composition

Rank Sector Weight
1 Financials 22.79%
2 Technology 3.8%
3 Consumer Discretionary 3.14%
4 Healthcare 2.89%
5 Communication Services 2.17%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SLRC icon
76
SLR Investment Corp
SLRC
$696M
$383K 0.21%
27,520
– –
OKE icon
77
Oneok
OKE
$56.1B
$369K 0.2%
5,620
-63
-1% -$3.87K
ATVI
78
DELISTED
Activision Blizzard
ATVI
$367K 0.2%
4,800
-14
-0.3% -$1.04K
CE icon
79
Celanese
CE
$4.91B
$358K 0.19%
3,500
-18
-0.5% -$1.78K
TYG
80
Tortoise Energy Infrastructure Corp
TYG
$1.09B
$348K 0.19%
10,941
-1,414
-11% -$45.9K
NEAR icon
81
iShares Short Maturity Bond ETF
NEAR
$4.83B
$343K 0.18%
6,958
– –
VEA icon
82
Vanguard FTSE Developed Markets ETF
VEA
$230B
$342K 0.18%
8,156
-37
-0.5% -$1.5K
GDX icon
83
VanEck Gold Miners ETF
GDX
$23.5B
$337K 0.18%
+11,752
New +$314K
IWC icon
84
iShares Micro-Cap ETF
IWC
$1.45B
$337K 0.18%
3,123
– –
PARA
85
DELISTED
Paramount Global Class B
PARA
$337K 0.18%
19,953
+2,835
+17% +$52.2K
VUG icon
86
Vanguard Morningstar Growth ETF
VUG
$218B
$331K 0.18%
+9,330
New +$343K
BN icon
87
Brookfield
BN
$103B
$330K 0.18%
15,750
-3,733
-19% -$83.7K
QCOM icon
88
Qualcomm
QCOM
$160B
$330K 0.18%
3,000
-12
-0.4% -$1.4K
WVVI icon
89
Willamette Valley Vineyards
WVVI
$13.3M
$328K 0.18%
54,800
– –
TRS icon
90
TriMas Corp
TRS
$1.36B
$319K 0.17%
11,500
-102
-0.9% -$2.73K
SCHD icon
91
Schwab US Dividend Equity ETF
SCHD
$103B
$309K 0.17%
+12,273
New +$303K
JNJ icon
92
Johnson & Johnson
JNJ
$617B
$301K 0.16%
1,705
-29
-2% -$5.01K
PH icon
93
Parker-Hannifin
PH
$121B
$291K 0.16%
1,000
– –
OPP
94
RiverNorth/DoubleLine Strategic Opportunity Fund
OPP
$190M
$283K 0.15%
32,947
– –
BXMT icon
95
Blackstone Mortgage Trust
BXMT
$2.53B
$282K 0.15%
+13,143
New +$311K
GOOG icon
96
Alphabet (Google) Class C
GOOG
$4.08T
$275K 0.15%
3,100
-80
-3% -$7.63K
IYE icon
97
iShares US Energy ETF
IYE
$1.73B
$256K 0.14%
5,500
– –
ECL icon
98
Ecolab
ECL
$78.6B
$252K 0.14%
1,723
-527
-23% -$77.4K
NFLX icon
99
Netflix
NFLX
$305B
$245K 0.13%
+8,300
New +$233K
MDLZ icon
100
Mondelez International
MDLZ
$80.5B
$244K 0.13%
3,656
-72
-2% -$4.55K
1 2 3
4
5

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KFBMI
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Next Capital Management's Q4 2022 Portfolio in Review

As of Q4 2022, Next Capital Management held 131 positions worth $185M, up 40% from $132M the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Next Capital Management deployed $48.1M of net new capital in Q4 2022, opening 19 new positions and adding to 37 existing holdings. Its largest new stake was BRT Apartments: 50,000 shares worth $982K.

By sector, the portfolio is most concentrated in Financials at 23% of assets, up from 12% a quarter earlier, followed by Technology and Consumer Discretionary.

On the sell side, the largest reduction was Saba Capital Income & Opportunities Fund, an estimated $711K trimmed.

  • Next Capital Management's largest Q4 2022 buy was BRT Apartments: 50,000 shares worth $982K.
  • Next Capital Management added most to Blue Owl Capital in Q4 2022, an estimated $17.1M increase.
  • Next Capital Management's biggest Q4 2022 reduction was Saba Capital Income & Opportunities Fund, cutting an estimated $711K.
  • Next Capital Management fully exited Nuveen AMT-Free Quality Municipal Income Fund in Q4 2022, selling an estimated $318K.
  • Next Capital Management's ten largest holdings make up 49% of its $185M portfolio in Q4 2022.
  • Next Capital Management opened 19 new positions and closed 7 in Q4 2022.
  • Next Capital Management's portfolio value rose 40% quarter-over-quarter to $185M.

Based on Next Capital Management's 13F filing for Q4 2022, filed 12 Jan 2023.