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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
+6.52%
1 Year Est. Return
+11.54%
3 Year Est. Return
+56.12%
5 Year Est. Return
+59.28%
10 Year Est. Return
–
AUM
$140M
AUM Growth
-$9.33M
Cap. Flow
-$10.4M
Cap. Flow %
-7.41%
Top 10 Hldgs %
47.3%
Holding
264
New
7
Increased
21
Reduced
36
Closed
172

Top Buys

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$3.05M
2
KYN icon
Kayne Anderson Energy Infrastructure Fund
KYN
+$1.7M
3
FRA icon
BlackRock Floating Rate Income Strategies Fund
FRA
+$815K
4
BRW
Saba Capital Income & Opportunities Fund
BRW
+$764K
5
IWN icon
iShares Russell 2000 Value ETF
IWN
+$521K

Top Sells

Rank Stock Value
1
SCHX icon
Schwab US Large- Cap ETF
SCHX
+$7.88M
2
TPYP icon
Tortoise North American Pipeline ETF
TPYP
+$2.13M
3
IEFA icon
iShares Core MSCI EAFE ETF
IEFA
+$1.92M
4
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$1.58M
5
JPST icon
JPMorgan Ultra-Short Income ETF
JPST
+$1.27M

Sector Composition

Rank Sector Weight
1 Healthcare 7.35%
2 Communication Services 5.07%
3 Financials 3.4%
4 Technology 1.95%
5 Industrials 1.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JBGS
151
JBG SMITH
JBGS
$838M
– –
-517
Closed -$20K
JGH icon
152
Nuveen Global High Income Fund
JGH
$348M
– –
-796
Closed -$12K
JMM icon
153
Nuveen Multi-Market Income Fund
JMM
$54.4M
– –
-1,816
Closed -$13K
JPC icon
154
Nuveen Preferred & Income Opportunities Fund
JPC
$2.89B
– –
-392
Closed -$4K
JPEM icon
155
JPMorgan Diversified Return Emerging Markets Equity ETF
JPEM
$383M
– –
-1,685
Closed -$88K
JPM icon
156
JPMorgan Chase
JPM
$948B
– –
-75
Closed -$9K
KW
157
DELISTED
Kennedy-Wilson Holdings
KW
– –
-350
Closed -$8K
LAMR icon
158
Lamar Advertising Co
LAMR
$16.3B
– –
-820
Closed -$67K
LULU icon
159
lululemon athletica
LULU
$13.7B
– –
-378
Closed -$73K
MA icon
160
Mastercard
MA
$496B
– –
-653
Closed -$177K
MAYS icon
161
J.W. Mays
MAYS
$78.7M
– –
-3,233
Closed -$116K
MBB icon
162
iShares MBS ETF
MBB
$39.3B
– –
-1,270
Closed -$138K
MDXG icon
163
MiMedx Group
MDXG
$652M
– –
-18,805
Closed -$92K
MER.PRK
164
Bank of America Income Capital Obligation Notes due December 15 2066
MER.PRK
$1.06B
– –
-500
Closed -$13K
MIDD icon
165
Middleby
MIDD
$6.18B
– –
-30
Closed -$4K
MKTX icon
166
MarketAxess Holdings
MKTX
$4.3B
– –
-95
Closed -$31K
MRK icon
167
Merck
MRK
$328B
– –
-262
Closed -$21K
NAD icon
168
Nuveen Quality Municipal Income Fund
NAD
$2.73B
– –
-5,135
Closed -$74K
NBB icon
169
Nuveen Taxable Municipal Income Fund
NBB
$447M
– –
-313
Closed -$7K
NKE icon
170
Nike
NKE
$63.5B
– –
-350
Closed -$33K
NOW icon
171
ServiceNow
NOW
$115B
– –
-600
Closed -$30K
NVS icon
172
Novartis
NVS
$304B
– –
-1,000
Closed -$87K
PAYX icon
173
Paychex
PAYX
$42.5B
– –
-787
Closed -$65K
PFE icon
174
Pfizer
PFE
$144B
– –
-1,832
Closed -$62K
PG icon
175
Procter & Gamble
PG
$354B
– –
-225
Closed -$28K
5 6
7
8 9

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Next Capital Management's Q4 2019 Portfolio in Review

As of Q4 2019, Next Capital Management held 264 positions worth $140M, down 6.3% from $149M the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Next Capital Management withdrew a net $10.4M in Q4 2019, closing 172 positions and reducing 36 holdings. Its most notable exit was iShares Russell 2000 ETF, an estimated $891K position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 7.3% of assets, up from 6.6% a quarter earlier, followed by Communication Services and Financials.

Against the trend, Next Capital Management opened a new position in iShares Russell 2000 Value ETF worth $659K.

  • Next Capital Management's largest Q4 2019 buy was iShares Russell 2000 Value ETF: 4,214 shares worth $659K.
  • Next Capital Management added most to iShares Core S&P 500 ETF in Q4 2019, an estimated $3.05M increase.
  • Next Capital Management's biggest Q4 2019 reduction was Schwab US Large- Cap ETF, cutting an estimated $7.88M.
  • Next Capital Management fully exited iShares Russell 2000 ETF in Q4 2019, selling an estimated $891K.
  • Next Capital Management's ten largest holdings make up 47% of its $140M portfolio in Q4 2019.
  • Next Capital Management opened 7 new positions and closed 172 in Q4 2019.
  • Next Capital Management's portfolio value fell 6.3% quarter-over-quarter to $140M.

Based on Next Capital Management's 13F filing for Q4 2019, filed 12 Feb 2020.