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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
+3.23%
1 Year Est. Return
+11.54%
3 Year Est. Return
+56.12%
5 Year Est. Return
+59.28%
10 Year Est. Return
–
AUM
$239M
AUM Growth
-$8.72M
Cap. Flow
-$16M
Cap. Flow %
-6.68%
Top 10 Hldgs %
46.38%
Holding
152
New
7
Increased
40
Reduced
48
Closed
16

Top Buys

Rank Stock Value
1
GBDC icon
Golub Capital BDC
GBDC
+$8.33M
2
IWF icon
iShares Russell 1000 Growth ETF
IWF
+$4.52M
3
IVV icon
iShares Core S&P 500 ETF
IVV
+$799K
4
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$740K
5
JPST icon
JPMorgan Ultra-Short Income ETF
JPST
+$731K

Top Sells

Rank Stock Value
1
OBDC icon
Blue Owl Capital
OBDC
+$19.4M
2
IWB icon
iShares Russell 1000 ETF
IWB
+$3.78M
3
VOO icon
Vanguard S&P 500 ETF
VOO
+$2.76M
4
AFT
Apollo Senior Floating Rate Fund Inc.
AFT
+$2.2M
5
VGT icon
Vanguard Information Technology ETF
VGT
+$1.04M

Sector Composition

Rank Sector Weight
1 Financials 12.89%
2 Technology 6.64%
3 Consumer Discretionary 6.08%
4 Communication Services 5.94%
5 Healthcare 2.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TYG
101
Tortoise Energy Infrastructure Corp
TYG
$1.1B
$341K 0.14%
9,770
– –
CVX icon
102
Chevron
CVX
$374B
$315K 0.13%
2,012
+375
+23% +$59.8K
LII icon
103
Lennox International
LII
$18.9B
$314K 0.13%
587
-43
-7% -$21.2K
SPMB icon
104
State Street SPDR Portfolio Mortgage Backed Bond ETF
SPMB
$7B
$314K 0.13%
14,557
– –
QQQM icon
105
Invesco NASDAQ 100 ETF
QQQM
$94.9B
$305K 0.13%
1,545
-100
-6% -$18.5K
TCPC icon
106
BlackRock TCP Capital
TCPC
$274M
$302K 0.13%
27,945
-42,667
-60% -$452K
AVB icon
107
AvalonBay Communities
AVB
$27.2B
$300K 0.13%
1,450
-9
-0.6% -$1.74K
TRS icon
108
TriMas Corp
TRS
$1.44B
$294K 0.12%
11,500
– –
SPHQ icon
109
Invesco S&P 500 Quality ETF
SPHQ
$19.3B
$292K 0.12%
4,596
– –
ROP icon
110
Roper Technologies
ROP
$38.7B
$282K 0.12%
500
-22
-4% -$11.9K
COST icon
111
Costco
COST
$429B
$273K 0.11%
321
-45
-12% -$35.1K
SPOT icon
112
Spotify
SPOT
$105B
$270K 0.11%
860
– –
IYE icon
113
iShares US Energy ETF
IYE
$1.69B
$264K 0.11%
5,500
– –
DBEF icon
114
Xtrackers MSCI EAFE Hedged Equity ETF
DBEF
$9.16B
$262K 0.11%
6,331
– –
MO icon
115
Altria Group
MO
$125B
$261K 0.11%
5,700
+978
+21% +$43.4K
MGM icon
116
MGM Resorts International
MGM
$11.8B
$256K 0.11%
5,750
-25
-0.4% -$1.04K
HON icon
117
Honeywell
HON
$78.3B
$254K 0.11%
1,260
+124
+11% +$23.6K
TXN icon
118
Texas Instruments
TXN
$253B
$252K 0.11%
+1,293
New +$239K
ITW icon
119
Illinois Tool Works
ITW
$84.9B
$251K 0.1%
1,057
+121
+13% +$29.9K
MDLZ icon
120
Mondelez International
MDLZ
$80.2B
$239K 0.1%
3,656
-84
-2% -$5.76K
BE icon
121
Bloom Energy
BE
$47.5B
$228K 0.1%
18,622
– –
COIN icon
122
Coinbase
COIN
$44.2B
$226K 0.09%
1,015
– –
MCHP icon
123
Microchip Technology
MCHP
$41.1B
$225K 0.09%
2,459
-70
-3% -$6.41K
VIG icon
124
Vanguard Dividend Appreciation ETF
VIG
$113B
$222K 0.09%
1,215
-1,727
-59% -$311K
WMB icon
125
Williams Companies
WMB
$85.8B
$221K 0.09%
+5,198
New +$209K
2 3 4
5
6

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Next Capital Management's Q2 2024 Portfolio in Review

As of Q2 2024, Next Capital Management held 152 positions worth $239M, down 3.5% from $248M the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Next Capital Management withdrew a net $16M in Q2 2024, closing 16 positions and reducing 48 holdings. Its most notable exit was iShares Russell 1000 ETF, an estimated $3.78M position sold in full.

By sector, the portfolio is most concentrated in Financials at 13% of assets, down from 17% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, Next Capital Management opened a new position in TransUnion worth $422K.

  • Next Capital Management's largest Q2 2024 buy was TransUnion: 5,691 shares worth $422K.
  • Next Capital Management added most to Golub Capital BDC in Q2 2024, an estimated $8.33M increase.
  • Next Capital Management's biggest Q2 2024 reduction was Blue Owl Capital, cutting an estimated $19.4M.
  • Next Capital Management fully exited iShares Russell 1000 ETF in Q2 2024, selling an estimated $3.78M.
  • Next Capital Management's ten largest holdings make up 46% of its $239M portfolio in Q2 2024.
  • Next Capital Management opened 7 new positions and closed 16 in Q2 2024.
  • Next Capital Management's portfolio value fell 3.5% quarter-over-quarter to $239M.

Based on Next Capital Management's 13F filing for Q2 2024, filed 20 Aug 2024.