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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
+10.23%
1 Year Est. Return
+11.54%
3 Year Est. Return
+56.12%
5 Year Est. Return
+59.28%
10 Year Est. Return
–
AUM
$235M
AUM Growth
+$11.7M
Cap. Flow
-$9.98M
Cap. Flow %
-4.25%
Top 10 Hldgs %
48.32%
Holding
131
New
16
Increased
32
Reduced
26
Closed
6

Top Buys

1
VOO icon
Vanguard S&P 500 ETF
VOO
+$3.73M
2
VYM icon
Vanguard High Dividend Yield ETF
VYM
+$1.41M
3
IUSV icon
iShares Core S&P US Value ETF
IUSV
+$759K
4
IEMG icon
iShares Core MSCI Emerging Markets ETF
IEMG
+$524K
5
VIG icon
Vanguard Dividend Appreciation ETF
VIG
+$473K

Top Sells

1
AMZN icon
Amazon
AMZN
+$9.23M
2
GBDC icon
Golub Capital BDC
GBDC
+$5.06M
3
OBDC icon
Blue Owl Capital
OBDC
+$1.68M
4
XLF icon
State Street Financial Select Sector SPDR ETF
XLF
+$1.14M
5
BX icon
Blackstone
BX
+$905K

Sector Composition

1 Financials 21.06%
2 Consumer Discretionary 7.83%
3 Technology 4.06%
4 Communication Services 3.95%
5 Consumer Staples 1.58%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OBDC icon
1
Blue Owl Capital
OBDC
$5.55B
$25M 10.65%
1,693,130
-118,565
-7% -$1.68M
IVV icon
2
iShares Core S&P 500 ETF
IVV
$891B
$23.8M 10.15%
49,919
+512
+1% +$229K
AMZN icon
3
Amazon
AMZN
$2.69T
$13.4M 5.71%
88,254
-65,874
-43% -$9.23M
QQQ icon
4
Invesco QQQ Trust
QQQ
$473B
$9.99M 4.25%
24,392
-431
-2% -$164K
GBDC icon
5
Golub Capital BDC
GBDC
$3.47B
$9.35M 3.98%
619,238
-343,938
-36% -$5.06M
AAPL icon
6
Apple
AAPL
$4.89T
$6.84M 2.91%
35,508
+683
+2% +$126K
XLV icon
7
State Street Health Care Select Sector SPDR ETF
XLV
$41.5B
$6.66M 2.83%
48,809
-4,046
-8% -$526K
VOO icon
8
Vanguard S&P 500 ETF
VOO
$984B
$6.38M 2.72%
14,607
+9,117
+166% +$3.73M
META icon
9
Meta Platforms (Facebook)
META
$1.69T
$6.32M 2.69%
17,860
+532
+3% +$173K
IEFA icon
10
iShares Core MSCI EAFE ETF
IEFA
$187B
$5.72M 2.44%
81,371
+7,075
+10% +$466K
IWF icon
11
iShares Russell 1000 Growth ETF
IWF
$125B
$5.13M 2.18%
67,632
+284
+0.4% +$20.1K
JFR icon
12
Nuveen Floating Rate Income Fund
JFR
$1.24B
$4.87M 2.07%
592,820
+2,493
+0.4% +$19.9K
AFT
13
DELISTED
Apollo Senior Floating Rate Fund Inc.
AFT
$4.85M 2.06%
365,817
-6,397
-2% -$84K
VTI icon
14
Vanguard Total Stock Market ETF
VTI
$664B
$4.46M 1.9%
18,810
– –
SCHW
15
Charles Schwab
SCHW
$179B
$4.4M 1.87%
63,887
+1,040
+2% +$60.1K
IVW icon
16
iShares S&P 500 Growth ETF
IVW
$74.2B
$3.43M 1.46%
45,650
– –
BGX
17
Blackstone Long-Short Credit Income Fund
BGX
$137M
$3.39M 1.44%
296,157
-164
-0.1% -$1.87K
IEMG icon
18
iShares Core MSCI Emerging Markets ETF
IEMG
$151B
$3.31M 1.41%
65,353
+10,822
+20% +$524K
IJR icon
19
iShares Core S&P Small-Cap ETF
IJR
$111B
$3.1M 1.32%
28,619
-926
-3% -$89.2K
IWD icon
20
iShares Russell 1000 Value ETF
IWD
$82.4B
$3.04M 1.29%
18,374
-822
-4% -$127K
SCHX icon
21
Schwab US Large- Cap ETF
SCHX
$72.4B
$2.92M 1.24%
155,220
-120
-0.1% -$2.11K
BRK.B icon
22
Berkshire Hathaway Class B
BRK.B
$1.06T
$2.88M 1.23%
8,084
+30
+0.4% +$10.5K
BGB
23
Blackstone Strategic Credit 2027 Term Fund
BGB
$506M
$2.68M 1.14%
236,459
-1,905
-0.8% -$20.9K
JPM icon
24
JPMorgan Chase
JPM
$912B
$2.57M 1.09%
15,115
+298
+2% +$45.2K
SCHA icon
25
Schwab U.S Small- Cap ETF
SCHA
$22.8B
$2.49M 1.06%
105,570
+1,482
+1% +$31.2K
1
2 3 4 5

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Next Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Next Capital Management held 131 positions worth $235M, up 5.3% from $223M the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Next Capital Management withdrew a net $9.98M in Q4 2023, closing 6 positions and reducing 26 holdings. Its most notable exit was Activision Blizzard, an estimated $449K position sold in full.

By sector, the portfolio is most concentrated in Financials at 21% of assets, down from 24% a quarter earlier, followed by Consumer Discretionary and Technology.

Against the trend, Next Capital Management opened a new position in Vanguard High Dividend Yield ETF worth $1.5M.

  • Next Capital Management's largest Q4 2023 buy was Vanguard High Dividend Yield ETF: 13,427 shares worth $1.5M.
  • Next Capital Management added most to Vanguard S&P 500 ETF in Q4 2023, an estimated $3.73M increase.
  • Next Capital Management's biggest Q4 2023 reduction was Amazon, cutting an estimated $9.23M.
  • Next Capital Management fully exited Activision Blizzard in Q4 2023, selling an estimated $449K.
  • Next Capital Management's ten largest holdings make up 48% of its $235M portfolio in Q4 2023.
  • Next Capital Management opened 16 new positions and closed 6 in Q4 2023.
  • Next Capital Management's portfolio value rose 5.3% quarter-over-quarter to $235M.

Based on Next Capital Management's 13F filing for Q4 2023, filed 19 Jan 2024.