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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
+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
V icon
101
Visa
V
$673B
$263K 0.11%
+1,008
New +$248K
MGM icon
102
MGM Resorts International
MGM
$11.7B
$257K 0.11%
5,750
– –
PSX icon
103
Phillips 66
PSX
$84.4B
$253K 0.11%
1,904
– –
PG icon
104
Procter & Gamble
PG
$335B
$250K 0.11%
+1,707
New +$253K
SPHQ icon
105
Invesco S&P 500 Quality ETF
SPHQ
$19.5B
$249K 0.11%
4,596
– –
PARA
106
DELISTED
Paramount Global Class B
PARA
$248K 0.11%
16,743
-1,403
-8% -$18.8K
IYE icon
107
iShares US Energy ETF
IYE
$1.73B
$243K 0.1%
5,500
– –
VT icon
108
Vanguard Total World Stock ETF
VT
$76.9B
$242K 0.1%
+2,354
New +$227K
DBEF icon
109
Xtrackers MSCI EAFE Hedged Equity ETF
DBEF
$9.23B
$234K 0.1%
6,331
– –
GS icon
110
Goldman Sachs
GS
$302B
$231K 0.1%
+600
New +$200K
ARKG icon
111
ARK Genomic Revolution ETF
ARKG
$1.6B
$220K 0.09%
+6,716
New +$183K
HON icon
112
Honeywell
HON
$76.7B
$219K 0.09%
+1,106
New +$199K
FNDX icon
113
Schwab Fundamental US Large Company Index ETF
FNDX
$26.7B
$213K 0.09%
+10,299
New +$198K
ZGN icon
114
Zegna
ZGN
$3.98B
$211K 0.09%
18,275
– –
BA icon
115
Boeing
BA
$175B
$205K 0.09%
+785
New +$168K
SCHM icon
116
Schwab US Mid-Cap ETF
SCHM
$14.5B
$203K 0.09%
+8,082
New +$185K
BSL
117
Blackstone Senior Floating Rate 2027 Term Fund
BSL
$169M
$173K 0.07%
12,947
+781
+6% +$10.2K
NVG icon
118
Nuveen AMT-Free Municipal Credit Income Fund
NVG
$2.69B
$128K 0.05%
10,818
– –
ETWO
119
DELISTED
E2open Parent Holdings
ETWO
$107K 0.05%
24,295
– –
VWE
120
DELISTED
Vintage Wine Estates, Inc. Common Stock
VWE
$50.3K 0.02%
100,049
– –
CE icon
121
Celanese
CE
$4.91B
– –
-3,500
Closed -$439K
NOTV
122
DELISTED
Inotiv
NOTV
– –
-31,503
Closed -$97K
SPOT icon
123
Spotify
SPOT
$107B
– –
-1,500
Closed -$232K
PXD
124
DELISTED
Pioneer Natural Resource Co.
PXD
– –
-1,250
Closed -$287K
ATVI
125
DELISTED
Activision Blizzard
ATVI
– –
-4,800
Closed -$449K
1 2 3 4
5

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KFBMI
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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.