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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
ABT icon
126
Abbott
ABT
$188B
$222K 0.08%
+1,634
New +$215K
PSX icon
127
Phillips 66
PSX
$82.9B
$215K 0.08%
+1,800
New +$202K
DFEN icon
128
Direxion Daily Aerospace & Defense Bull 3X ETF
DFEN
$369M
$208K 0.08%
+4,000
New +$148K
SERV
129
Serve Robotics
SERV
$372M
$188K 0.07%
+16,425
New +$144K
ZGN icon
130
Zegna
ZGN
$4.01B
$156K 0.06%
18,275
– –
CRML icon
131
Critical Metals Corp
CRML
$754M
$71.5K 0.03%
19,982
– –
EDF
132
Virtus Stone Harbor Emerging Markets Income Fund
EDF
$165M
$50.5K 0.02%
+10,000
New +$48.6K
ETWO
133
DELISTED
E2open Parent Holdings
ETWO
$47.1K 0.02%
14,587
– –
CRBU icon
134
Caribou Biosciences
CRBU
$146M
$25.2K 0.01%
+20,000
New +$19.7K
DCGO icon
135
DocGo
DCGO
$64.2M
$23.6K 0.01%
+15,000
New +$28K
CVX icon
136
Chevron
CVX
$382B
– –
-1,213
Closed -$203K
ET icon
137
Energy Transfer Partners
ET
$69.5B
– –
-8,708
Closed -$162K
PARA
138
DELISTED
Paramount Global Class B
PARA
– –
-15,550
Closed -$186K
SHYG icon
139
iShares 0-5 Year High Yield Corporate Bond ETF
SHYG
$7.6B
– –
-24,600
Closed -$1.05M
SONY icon
140
Sony
SONY
$137B
– –
-3,685
Closed -$93.6K
2 3 4 5
6

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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.