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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
QCOM icon
76
Qualcomm
QCOM
$156B
$479K 0.23%
3,116
– –
SPOT icon
77
Spotify
SPOT
$104B
$473K 0.23%
860
– –
CMCSA icon
78
Comcast
CMCSA
$85.7B
$470K 0.23%
12,726
-1,041
-8% -$37.6K
GOOGL icon
79
Alphabet (Google) Class A
GOOGL
$4.35T
$468K 0.22%
3,027
-2,055
-40% -$373K
SLRC icon
80
SLR Investment Corp
SLRC
$687M
$464K 0.22%
27,520
– –
JNJ icon
81
Johnson & Johnson
JNJ
$622B
$440K 0.21%
2,654
-829
-24% -$130K
VTV icon
82
Vanguard Morningstar Value ETF
VTV
$188B
$434K 0.21%
2,511
– –
NOC icon
83
Northrop Grumman
NOC
$77.2B
$420K 0.2%
821
– –
TCPC icon
84
BlackRock TCP Capital
TCPC
$271M
$407K 0.2%
50,858
– –
MRK icon
85
Merck
MRK
$323B
$392K 0.19%
4,367
+254
+6% +$23.7K
IWC icon
86
iShares Micro-Cap ETF
IWC
$1.44B
$346K 0.17%
3,123
– –
PFE icon
87
Pfizer
PFE
$143B
$340K 0.16%
13,425
+182
+1% +$4.76K
LII icon
88
Lennox International
LII
$14.6B
$329K 0.16%
587
– –
ABBV icon
89
AbbVie
ABBV
$445B
$329K 0.16%
1,570
-879
-36% -$171K
WVVI icon
90
Willamette Valley Vineyards
WVVI
$12.5M
$326K 0.16%
54,800
– –
PG icon
91
Procter & Gamble
PG
$335B
$319K 0.15%
1,869
-842
-31% -$141K
SPHQ icon
92
Invesco S&P 500 Quality ETF
SPHQ
$19.4B
$306K 0.15%
4,608
-11,055
-71% -$757K
MAYS icon
93
J.W. Mays
MAYS
$78.6M
$280K 0.13%
7,326
– –
RSP icon
94
Invesco S&P 500 Equal Weight ETF
RSP
$97.2B
$279K 0.13%
+1,610
New +$286K
WMB icon
95
Williams Companies
WMB
$87.6B
$278K 0.13%
4,645
– –
MO icon
96
Altria Group
MO
$115B
$275K 0.13%
4,576
– –
DBEF icon
97
Xtrackers MSCI EAFE Hedged Equity ETF
DBEF
$9.18B
$274K 0.13%
6,331
– –
VT icon
98
Vanguard Total World Stock ETF
VT
$77.1B
$274K 0.13%
2,363
– –
HON icon
99
Honeywell
HON
$77.7B
$271K 0.13%
1,360
+254
+23% +$51.4K
IYE icon
100
iShares US Energy ETF
IYE
$1.74B
$271K 0.13%
5,500
– –
2 3
4
5 6

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KFBMI
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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.