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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
+10.23%
1 Year Est. Return
+11.54%
3 Year Est. Return
+56.12%
5 Year Est. Return
+59.28%
10 Year Est. Return
–
AUM
$235M
AUM Growth
+$11.7M
Cap. Flow
-$9.98M
Cap. Flow %
-4.25%
Top 10 Hldgs %
48.32%
Holding
131
New
16
Increased
32
Reduced
26
Closed
6

Top Buys

Rank Stock Value
1
VOO icon
Vanguard S&P 500 ETF
VOO
+$3.73M
2
VYM icon
Vanguard High Dividend Yield ETF
VYM
+$1.41M
3
IUSV icon
iShares Core S&P US Value ETF
IUSV
+$759K
4
IEMG icon
iShares Core MSCI Emerging Markets ETF
IEMG
+$524K
5
VIG icon
Vanguard Dividend Appreciation ETF
VIG
+$473K

Top Sells

Rank Stock Value
1
AMZN icon
Amazon
AMZN
+$9.23M
2
GBDC icon
Golub Capital BDC
GBDC
+$5.06M
3
OBDC icon
Blue Owl Capital
OBDC
+$1.68M
4
XLF icon
State Street Financial Select Sector SPDR ETF
XLF
+$1.14M
5
BX icon
Blackstone
BX
+$905K

Sector Composition

Rank Sector Weight
1 Financials 21.06%
2 Consumer Discretionary 7.83%
3 Technology 4.06%
4 Communication Services 3.95%
5 Consumer Staples 1.58%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BOND icon
76
PIMCO Active Bond Exchange-Traded Fund
BOND
$8.4B
$463K 0.2%
4,987
– –
QCOM icon
77
Qualcomm
QCOM
$164B
$454K 0.19%
3,141
– –
VEA icon
78
Vanguard FTSE Developed Markets ETF
VEA
$223B
$454K 0.19%
9,481
-204
-2% -$9.13K
NEAR icon
79
iShares Short Maturity Bond ETF
NEAR
$4.82B
$453K 0.19%
8,975
– –
NAN icon
80
Nuveen New York Quality Municipal Income Fund
NAN
$369M
$439K 0.19%
39,784
– –
BN icon
81
Brookfield
BN
$102B
$421K 0.18%
15,750
– –
SLRC icon
82
SLR Investment Corp
SLRC
$704M
$414K 0.18%
27,520
– –
MRK icon
83
Merck
MRK
$322B
$391K 0.17%
3,588
+76
+2% +$7.89K
SCHD icon
84
Schwab US Dividend Equity ETF
SCHD
$104B
$388K 0.17%
15,303
-2,001
-12% -$47.7K
NOC icon
85
Northrop Grumman
NOC
$76B
$387K 0.16%
826
– –
VTV icon
86
Vanguard Morningstar Value ETF
VTV
$188B
$368K 0.16%
2,462
– –
GDX icon
87
VanEck Gold Miners ETF
GDX
$22.5B
$364K 0.16%
11,752
– –
IWC icon
88
iShares Micro-Cap ETF
IWC
$1.42B
$362K 0.15%
3,123
– –
ECL icon
89
Ecolab
ECL
$79.8B
$350K 0.15%
1,762
+18
+1% +$3.24K
AEP icon
90
American Electric Power
AEP
$70.4B
$343K 0.15%
+4,220
New +$328K
SPMB icon
91
State Street SPDR Portfolio Mortgage Backed Bond ETF
SPMB
$6.97B
$321K 0.14%
14,557
– –
JNJ icon
92
Johnson & Johnson
JNJ
$640B
$320K 0.14%
+2,042
New +$313K
PINS icon
93
Pinterest
PINS
$13.7B
$312K 0.13%
8,435
+65
+0.8% +$2.04K
ABBV icon
94
AbbVie
ABBV
$465B
$309K 0.13%
1,991
+241
+14% +$35.1K
QQQM icon
95
Invesco NASDAQ 100 ETF
QQQM
$93B
$304K 0.13%
1,804
+62
+4% +$9.68K
TRS icon
96
TriMas Corp
TRS
$1.41B
$291K 0.12%
11,500
– –
WVVI icon
97
Willamette Valley Vineyards
WVVI
$12.7M
$290K 0.12%
54,800
– –
TYG
98
Tortoise Energy Infrastructure Corp
TYG
$1.08B
$281K 0.12%
9,782
-1,159
-11% -$32.8K
AVB icon
99
AvalonBay Communities
AVB
$27.5B
$271K 0.12%
+1,450
New +$253K
MDLZ icon
100
Mondelez International
MDLZ
$82.9B
$265K 0.11%
3,656
– –
1 2 3
4
5

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Next Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Next Capital Management held 131 positions worth $235M, up 5.3% from $223M the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Next Capital Management withdrew a net $9.98M in Q4 2023, closing 6 positions and reducing 26 holdings. Its most notable exit was Activision Blizzard, an estimated $449K position sold in full.

By sector, the portfolio is most concentrated in Financials at 21% of assets, down from 24% a quarter earlier, followed by Consumer Discretionary and Technology.

Against the trend, Next Capital Management opened a new position in Vanguard High Dividend Yield ETF worth $1.5M.

  • Next Capital Management's largest Q4 2023 buy was Vanguard High Dividend Yield ETF: 13,427 shares worth $1.5M.
  • Next Capital Management added most to Vanguard S&P 500 ETF in Q4 2023, an estimated $3.73M increase.
  • Next Capital Management's biggest Q4 2023 reduction was Amazon, cutting an estimated $9.23M.
  • Next Capital Management fully exited Activision Blizzard in Q4 2023, selling an estimated $449K.
  • Next Capital Management's ten largest holdings make up 48% of its $235M portfolio in Q4 2023.
  • Next Capital Management opened 16 new positions and closed 6 in Q4 2023.
  • Next Capital Management's portfolio value rose 5.3% quarter-over-quarter to $235M.

Based on Next Capital Management's 13F filing for Q4 2023, filed 19 Jan 2024.