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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
+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
ARKG icon
101
ARK Genomic Revolution ETF
ARKG
$1.54B
$318K 0.12%
+13,046
New +$286K
HON icon
102
Honeywell
HON
$78.3B
$313K 0.12%
1,424
+64
+5% +$13K
VT icon
103
Vanguard Total World Stock ETF
VT
$76.3B
$304K 0.11%
2,364
+1
+0% +$120
WVVI icon
104
Willamette Valley Vineyards
WVVI
$13.5M
$302K 0.11%
54,800
– –
MO icon
105
Altria Group
MO
$125B
$298K 0.11%
5,076
+500
+11% +$29.4K
BKNG icon
106
Booking.com
BKNG
$154B
$295K 0.11%
1,275
– –
RSP icon
107
Invesco S&P 500 Equal Weight ETF
RSP
$98.2B
$293K 0.11%
1,614
+4
+0.2% +$690
WMB icon
108
Williams Companies
WMB
$85.8B
$292K 0.11%
4,645
– –
MAYS icon
109
J.W. Mays
MAYS
$78.7M
$278K 0.1%
7,326
– –
DBEF icon
110
Xtrackers MSCI EAFE Hedged Equity ETF
DBEF
$9.16B
$277K 0.1%
6,331
– –
NMFC icon
111
New Mountain Finance
NMFC
$668M
$276K 0.1%
+26,150
New +$270K
GEV icon
112
GE Vernova
GEV
$251B
$269K 0.1%
+508
New +$212K
TRV icon
113
Travelers Companies
TRV
$82.9B
$269K 0.1%
1,004
– –
IWS icon
114
iShares Russell Mid-Cap Value ETF
IWS
$15.8B
$268K 0.1%
+2,030
New +$255K
ACVA icon
115
ACV Auctions
ACVA
$1.43B
$260K 0.1%
+16,006
New +$249K
CRM icon
116
Salesforce
CRM
$149B
$257K 0.1%
+943
New +$252K
JFR icon
117
Nuveen Floating Rate Income Fund
JFR
$1.23B
$252K 0.09%
+29,789
New +$244K
IYE icon
118
iShares US Energy ETF
IYE
$1.69B
$249K 0.09%
5,500
– –
MDLZ icon
119
Mondelez International
MDLZ
$80.2B
$247K 0.09%
3,656
– –
APO icon
120
Apollo Global Management
APO
$71.9B
$242K 0.09%
+1,707
New +$226K
V icon
121
Visa
V
$697B
$236K 0.09%
665
-18
-3% -$6.27K
PEP icon
122
PepsiCo
PEP
$195B
$229K 0.08%
+1,738
New +$234K
PLTR icon
123
Palantir
PLTR
$296B
$229K 0.08%
+1,682
New +$197K
SCHM icon
124
Schwab US Mid-Cap ETF
SCHM
$14.5B
$227K 0.08%
8,100
+3
+0% +$79
INDA icon
125
iShares MSCI India ETF
INDA
$6.84B
$223K 0.08%
+4,000
New +$214K
2 3 4
5
6

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PWM
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RWP
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BAM
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HLAM
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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.