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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
+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
TEVA icon
201
Teva Pharmaceuticals
TEVA
$36.9B
– –
-995
Closed -$7K
TGT icon
202
Target
TGT
$65.5B
– –
-19
Closed -$2K
TMO icon
203
Thermo Fisher Scientific
TMO
$214B
– –
-52
Closed -$15K
TSM icon
204
TSMC
TSM
$2.03T
– –
-601
Closed -$28K
TYL icon
205
Tyler Technologies
TYL
$13.7B
– –
-70
Closed -$18K
UBER icon
206
Uber
UBER
$144B
– –
-500
Closed -$15K
UL icon
207
Unilever
UL
$144B
– –
-1,191
Closed -$81K
ULTA icon
208
Ulta Beauty
ULTA
$21.6B
– –
-30
Closed -$8K
UNP icon
209
Union Pacific
UNP
$175B
– –
-112
Closed -$18K
V icon
210
Visa
V
$697B
– –
-1,311
Closed -$226K
VEU icon
211
Vanguard FTSE All-World ex-US ETF
VEU
$65.6B
– –
-1,545
Closed -$77K
VGK icon
212
Vanguard FTSE Europe ETF
VGK
$30.2B
– –
-715
Closed -$38K
VIG icon
213
Vanguard Dividend Appreciation ETF
VIG
$113B
– –
-2,654
Closed -$317K
VIOO icon
214
Vanguard S&P Small-Cap 600 ETF
VIOO
$4.18B
– –
-26
Closed -$2K
VNO icon
215
Vornado Realty Trust
VNO
$7.54B
– –
-1,034
Closed -$66K
VO icon
216
Vanguard Mid-Cap ETF
VO
$107B
– –
-3,672
Closed -$154K
VRTX icon
217
Vertex Pharmaceuticals
VRTX
$124B
– –
-90
Closed -$15K
VSS icon
218
Vanguard FTSE All-World ex-US Small-Cap Index Fund
VSS
$11.2B
– –
-557
Closed -$57K
VTIP icon
219
Vanguard Short-Term Inflation-Protected Securities Index Fund
VTIP
$19.1B
– –
-304
Closed -$15K
VXUS icon
220
Vanguard Total International Stock ETF
VXUS
$153B
– –
-73
Closed -$4K
WAB icon
221
Wabtec
WAB
$51.7B
– –
-77
Closed -$6K
WMT icon
222
Walmart Inc
WMT
$900B
– –
-39
Closed -$2K
WTRG icon
223
Essential Utilities
WTRG
$11.5B
– –
-2,500
Closed -$112K
WYNN icon
224
Wynn Resorts
WYNN
$10.3B
– –
-100
Closed -$11K
XBI icon
225
State Street SPDR S&P Biotech ETF
XBI
$10.1B
– –
-1,000
Closed -$76K
6 7 8
9
10

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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.