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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
TRS icon
101
TriMas Corp
TRS
$1.41B
$269K 0.13%
11,500
– –
UNH icon
102
UnitedHealth
UNH
$380B
$269K 0.13%
+514
New +$263K
EWG icon
103
iShares MSCI Germany ETF
EWG
$1.59B
$266K 0.13%
+7,175
New +$256K
TRV icon
104
Travelers Companies
TRV
$78.6B
$266K 0.13%
1,004
– –
MDLZ icon
105
Mondelez International
MDLZ
$79.6B
$248K 0.12%
3,656
– –
V icon
106
Visa
V
$679B
$240K 0.11%
683
-1,115
-62% -$377K
BKNG icon
107
Booking.com
BKNG
$149B
$235K 0.11%
1,275
– –
SCHM icon
108
Schwab US Mid-Cap ETF
SCHM
$14.5B
$212K 0.1%
8,097
+3
+0% +$84
IJS icon
109
iShares S&P Small-Cap 600 Value ETF
IJS
$8.09B
$205K 0.1%
+2,098
New +$221K
CVX icon
110
Chevron
CVX
$386B
$203K 0.1%
1,213
-912
-43% -$143K
PARA
111
DELISTED
Paramount Global Class B
PARA
$186K 0.09%
15,550
-2,454
-14% -$27.4K
ET icon
112
Energy Transfer Partners
ET
$69.9B
$162K 0.08%
+8,708
New +$170K
ZGN icon
113
Zegna
ZGN
$4B
$135K 0.06%
18,275
– –
SONY icon
114
Sony
SONY
$135B
$93.6K 0.04%
+3,685
New +$85.1K
ETWO
115
DELISTED
E2open Parent Holdings
ETWO
$29.2K 0.01%
14,587
– –
CRML icon
116
Critical Metals Corp
CRML
$817M
$27.8K 0.01%
+19,982
New +$91.1K
ABT icon
117
Abbott
ABT
$181B
– –
-2,519
Closed -$285K
ADBE icon
118
Adobe
ADBE
$97.2B
– –
-723
Closed -$322K
ADP icon
119
Automatic Data Processing
ADP
$104B
– –
-993
Closed -$291K
AVB icon
120
AvalonBay Communities
AVB
$26.5B
– –
-5,650
Closed -$1.24M
BGB
121
Blackstone Strategic Credit 2027 Term Fund
BGB
$500M
– –
-26,899
Closed -$329K
BGX
122
Blackstone Long-Short Credit Income Fund
BGX
$136M
– –
-36,261
Closed -$451K
BLK icon
123
Blackrock
BLK
$169B
– –
-228
Closed -$234K
BRW
124
Saba Capital Income & Opportunities Fund
BRW
$340M
– –
-110,322
Closed -$841K
COIN icon
125
Coinbase
COIN
$37.4B
– –
-895
Closed -$222K
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.