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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
+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
PPG icon
76
PPG Industries
PPG
$26.5B
$592K 0.22%
5,204
– –
CSGS
77
DELISTED
CSG Systems International
CSGS
$588K 0.22%
9,000
– –
OBDC icon
78
Blue Owl Capital
OBDC
$5.47B
$564K 0.21%
39,363
– –
OPP
79
RiverNorth/DoubleLine Strategic Opportunity Fund
OPP
$190M
$546K 0.2%
+63,859
New +$534K
AEP icon
80
American Electric Power
AEP
$72.4B
$527K 0.19%
5,075
-2,953
-37% -$307K
QCOM icon
81
Qualcomm
QCOM
$172B
$512K 0.19%
3,216
+100
+3% +$14.7K
VWO icon
82
Vanguard FTSE Emerging Markets ETF
VWO
$119B
$493K 0.18%
9,964
-2,826
-22% -$131K
VTV icon
83
Vanguard Value ETF
VTV
$190B
$489K 0.18%
2,765
+254
+10% +$42.9K
EWG icon
84
iShares MSCI Germany ETF
EWG
$1.56B
$486K 0.18%
11,475
+4,300
+60% +$172K
ALAB icon
85
Astera Labs
ALAB
$44.6B
$469K 0.17%
+5,182
New +$409K
MRK icon
86
Merck
MRK
$326B
$461K 0.17%
5,814
+1,447
+33% +$115K
EPD icon
87
Enterprise Products Partners
EPD
$83.6B
$454K 0.17%
14,625
+332
+2% +$10.3K
SLRC icon
88
SLR Investment Corp
SLRC
$708M
$444K 0.16%
27,520
– –
PFE icon
89
Pfizer
PFE
$144B
$434K 0.16%
17,903
+4,478
+33% +$104K
TYG
90
Tortoise Energy Infrastructure Corp
TYG
$1.1B
$429K 0.16%
+9,770
New +$396K
NOC icon
91
Northrop Grumman
NOC
$78B
$405K 0.15%
811
-10
-1% -$4.92K
CMCSA icon
92
Comcast
CMCSA
$85.8B
$399K 0.15%
11,178
-1,548
-12% -$53.5K
IWC icon
93
iShares Micro-Cap ETF
IWC
$1.45B
$399K 0.15%
3,123
– –
UNH icon
94
UnitedHealth
UNH
$389B
$389K 0.14%
1,246
+732
+142% +$280K
PG icon
95
Procter & Gamble
PG
$347B
$385K 0.14%
2,416
+547
+29% +$89.3K
ABBV icon
96
AbbVie
ABBV
$465B
$348K 0.13%
1,877
+307
+20% +$57.1K
ILMN icon
97
Illumina
ILMN
$29.2B
$341K 0.13%
+3,578
New +$290K
TRS icon
98
TriMas Corp
TRS
$1.44B
$329K 0.12%
11,500
– –
LII icon
99
Lennox International
LII
$18.9B
$323K 0.12%
563
-24
-4% -$13.4K
IJS icon
100
iShares S&P Small-Cap 600 Value ETF
IJS
$8.2B
$321K 0.12%
3,230
+1,132
+54% +$107K
2 3
4
5 6

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KFBMI
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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.