Q1 2026 · 13F-HR
Next Capital Management LLCholdings as filed
Filed 2026-05-07 · accession 0001437749-26-015365
$330.2M
Reported value
134
Positions
2026-03-31
Period end
The Brief · Next Capital Management LLC · Q1 2026
AI · grounded in 13F
Next Capital Management LLC closed its position in Berkshire Hathaway Inc Dclass A BRK/A, reducing its holdings by $1.5M. The fund established a new position in Salesforce Inc CRM valued at $2.1M. Other significant accumulations include Apollo Global Mgmt Inc Nclass Class A APO, which saw a 1142.9% increase in shares, and Blue Owl Cap Corp OBDC, which increased by 610.9%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 464287200 | IVV | ISHARES CORE S&P 500 ETF | $46.1M | 14.0% | 70,599 | Common | NONE |
| 03761U502 | MFIC | MIDCAP FINL INVESTME | $21.0M | 6.37% | 1,871,652 | Common | NONE |
| 69121K104 | OBDC | BLUE OWL CAP CORP | $15.8M | 4.78% | 1,418,819 | Common | NONE |
| 46432F842 | IEFA | ISHARES CORE MSCI EAFE ETF | $14.5M | 4.38% | 159,750 | Common | NONE |
| 46090E103 | QQQ | INVESCO QQQ TR | $11.6M | 3.51% | 20,091 | Common | NONE |
| 09259E108 | TCPC | BLACKROCK TCP CAP CORP | $11.0M | 3.33% | 3,049,547 | Common | NONE |
| 46434G103 | IEMG | ISHARES CORE MSCI EMERGING MARKETS ETF | $10.6M | 3.20% | 151,521 | Common | NONE |
| 922908769 | VTI | VANGUARD TOTAL STOCK MARKET INDEX FUND ETF SHARES | $10.0M | 3.03% | 31,160 | Common | NONE |
| 30303M102 | META | META PLATFORMS INC CLASS CLASS A | $9.3M | 2.82% | 16,296 | Common | NONE |
| 464287614 | IWF | ISHARES RUSSELL 1000 GROWTH ETF | $9.1M | 2.76% | 21,386 | Common | NONE |
| 023135106 | AMZN | AMAZON.COM INC | $8.9M | 2.69% | 42,650 | Common | NONE |
| 464287309 | IVW | ISHARES S&P 500 GROWTH ETF | $7.7M | 2.33% | 67,879 | Common | NONE |
| 38173M102 | GBDC | GOLUB CAP BDC INC | $7.2M | 2.17% | 567,205 | Common | NONE |
| 037833100 | AAPL | APPLE INC | $6.8M | 2.05% | 26,623 | Common | NONE |
| 464287507 | IJH | ISHARES CORE S&P MID-CAPETF | $6.2M | 1.89% | 92,174 | Common | NONE |
| 464287804 | IJR | ISHARES CORE S&P SMALL-CAP ETF | $6.2M | 1.87% | 49,749 | Common | NONE |
| 464287598 | IWD | ISHARES RUSSELL 1000 VALUE ETF | $6.0M | 1.82% | 28,065 | Common | NONE |
| 922908363 | VOO | VANGUARD S&P 500 ETF | $5.1M | 1.54% | 8,533 | Common | NONE |
| 48251W104 | KKR | KKR & CO INC | $4.4M | 1.34% | 47,771 | Common | NONE |
| 78462F103 | SPY | STATE STREET SPDR S&P 500 ETF TRUST | $4.4M | 1.33% | 6,759 | Common | NONE |
| 464287622 | IWB | ISHARES RUSSELL 1000 ETF | $4.3M | 1.29% | 11,952 | Common | NONE |
| 084670702 | BRK/B | BERKSHIRE HATHAWAY CLASS B | $4.0M | 1.21% | 8,352 | Common | NONE |
| 67066G104 | NVDA | NVIDIA CORP | $3.9M | 1.19% | 22,584 | Common | NONE |
| 808524771 | FNDX | SCHWAB FUNDAMENTAL U.S. LARGE COMPANY ETF | $3.6M | 1.08% | 128,008 | Common | NONE |
| 921908844 | VIG | VANGUARD DIVIDEND APPRECIATION INDEX FUND ETF SHARES | $3.1M | 0.95% | 14,617 | Common | NONE |
| 808524607 | SCHA | SCHWAB U.S. SMALL-CAP ETF | $3.1M | 0.95% | 107,890 | Common | NONE |
| 808524201 | SCHX | SCHWAB U.S. LARGE-CAP ETF | $2.9M | 0.89% | 114,110 | Common | NONE |
| 46138G649 | QQQM | INVESCO NASDAQ 100 ETF | $2.6M | 0.80% | 11,148 | Common | NONE |
| 81369Y209 | XLV | STATE STREET HEALTH CARESELECT SECTOR SPDR ETF | $2.6M | 0.80% | 18,001 | Common | NONE |
| 09260D107 | BX | BLACKSTONE INC | $2.6M | 0.78% | 22,322 | Common | NONE |
| 03769M106 | APO | APOLLO GLOBAL MGMT INC NCLASS CLASS A | $2.4M | 0.74% | 21,863 | Common | NONE |
| 922908736 | VUG | VANGUARD GROWTH INDEX FUND ETF SHARES | $2.2M | 0.67% | 5,067 | Common | NONE |
| 79466L302 | CRM | SALESFORCE INC | $2.1M | 0.64% | 11,350 | Common | NONE |
| 594918104 | MSFT | MICROSOFT CORP | $2.1M | 0.63% | 5,653 | Common | NONE |
| 464287234 | EEM | ISHARES MSCI EMERGING MARKETS ETF | $2.1M | 0.63% | 36,624 | Common | NONE |
| 464287663 | IUSV | ISHARES CORE S&P U.S. VALUE ETF | $2.0M | 0.61% | 19,560 | Common | NONE |
| 92204A702 | VGT | VANGUARD INFORMATION TECHNOLOGY INDEX FUND ETF SHARES | $1.9M | 0.59% | 2,773 | Common | NONE |
| 02079K305 | GOOGL | ALPHABET INC CLASS CLASS A | $1.9M | 0.58% | 6,679 | Common | NONE |
| 02079K107 | GOOG | ALPHABET INC CLASS CLASS C | $1.8M | 0.55% | 6,361 | Common | NONE |
| 81369Y605 | XLF | STATE STREET FINANCIAL SELECT SECTOR SPDR ETF | $1.7M | 0.52% | 34,508 | Common | NONE |
| 532457108 | LLY | ELI LILLY AND CO | $1.6M | 0.49% | 1,768 | Common | NONE |
| 922908637 | VV | VANGUARD LARGE-CAP INDEXFUND ETF SHARES | $1.6M | 0.49% | 5,376 | Common | NONE |
| 808513105 | SCHW | CHARLES SCHWAB CORP | $1.6M | 0.48% | 16,923 | Common | NONE |
| 464287481 | IWP | ISHARES RUSSELL MID-CAP GROWTH ETF | $1.5M | 0.45% | 11,643 | Common | NONE |
| 500767306 | KWEB | KRANESHARES CSI CHINA INTERNET ETF | $1.4M | 0.42% | 49,020 | Common | NONE |
| 478160104 | JNJ | JOHNSON & JOHNSON | $1.4M | 0.41% | 5,530 | Common | NONE |
| 38141G104 | GS | GOLDMAN SACHS GROUP INC | $1.3M | 0.39% | 1,535 | Common | NONE |
| 922908538 | VOT | VANGUARD MID-CAP GROWTH INDEX FUND ETF SHARES | $1.3M | 0.39% | 5,020 | Common | NONE |
| 191216100 | KO | THE COCA-COLA CO | $1.3M | 0.38% | 16,611 | Common | NONE |
| 808524797 | SCHD | SCHWAB U.S. DIVIDEND EQUITY ETF | $1.3M | 0.38% | 40,920 | Common | NONE |
| 921946406 | VYM | VANGUARD HIGH DIVIDEND YIELD INDEX FUND ETF SHARES | $1.2M | 0.37% | 8,193 | Common | NONE |
| 464287465 | EFA | ISHARES MSCI EAFE ETF | $1.2M | 0.35% | 12,009 | Common | NONE |
| 464287655 | IWM | ISHARES RUSSELL 2000 ETF | $1.1M | 0.34% | 4,551 | Common | NONE |
| 81369Y803 | XLK | STATE STREET TECHNOLOGY SELECT SECTOR SPDR ETF | $1.1M | 0.34% | 8,377 | Common | NONE |
| 46641Q837 | JPST | JPMORGAN ULTRA-SHORT INCOME ETF | $1.1M | 0.33% | 21,598 | Common | NONE |
| 60937P106 | MDB | MONGODB INC CLASS CLASS A | $1.1M | 0.33% | 4,385 | Common | NONE |
| 921943858 | VEA | VANGUARD FTSE DEVELOPED MARKETS INDEX FUND ETF SHARES | $1.1M | 0.33% | 16,749 | Common | NONE |
| 872657101 | TPG | TPG INC CLASS CLASS A | $1.1M | 0.32% | 25,978 | Common | NONE |
| 30231G102 | XOM | EXXON MOBIL CORP | $973,000 | 0.29% | 5,735 | Common | NONE |
| 46625H100 | JPM | JPMORGAN CHASE & CO | $968,585 | 0.29% | 3,293 | Common | NONE |
| 701094104 | PH | PARKER-HANNIFIN CORP | $926,573 | 0.28% | 1,035 | Common | NONE |
| 33738D101 | EMLP | FIRST TRUST NORTH AMERICAN ENERGY INFRASTRUCTURE FUND | $862,416 | 0.26% | 19,753 | Common | NONE |
| 78463V107 | GLD | SPDR GOLD SHARES | $851,544 | 0.26% | 1,979 | Common | NONE |
| 808524102 | SCHB | SCHWAB U.S. BROAD MARKETETF | $833,776 | 0.25% | 33,218 | Common | NONE |
| 92189F106 | GDX | VANECK GOLD MINERS ETF | $782,064 | 0.24% | 8,522 | Common | NONE |
| 278865100 | ECL | ECOLAB INC | $778,109 | 0.24% | 2,925 | Common | NONE |
| 464287515 | IGV | ISHARES EXPANDED TECH-SOFTWARE SECTOR ETF | $769,337 | 0.23% | 9,611 | Common | NONE |
| 025537101 | AEP | AMERICAN ELEC PWR CO INC | $740,864 | 0.22% | 5,652 | Common | NONE |
| 46137V241 | SPHQ | INVESCO S&P 500 QUALITY ETF | $716,410 | 0.22% | 9,528 | Common | NONE |
| 682680103 | OKE | ONEOK INC NEW | $712,273 | 0.22% | 7,880 | Common | NONE |
| 464288240 | ACWX | ISHARES MSCI ACWI EX U.S. ETF | $681,893 | 0.21% | 9,959 | Common | NONE |
| 922908744 | VTV | VANGUARD VALUE INDEX FUND ETF SHARES | $677,467 | 0.21% | 3,453 | Common | NONE |
| 464287879 | IJS | ISHARES S&P SMALL-CAP 600 VALUE ETF | $651,001 | 0.20% | 5,496 | Common | NONE |
| 11271J107 | BN | BROOKFIELD CORP FCLASS A | $637,403 | 0.19% | 15,750 | Common | NONE |
| 78518H202 | BRW | SABA CAPITAL INCOME & OP | $599,368 | 0.18% | 88,927 | Common | NONE |
| 438516106 | HON | HONEYWELL INTL INC | $588,130 | 0.18% | 2,602 | Common | NONE |
| 922042858 | VWO | VANGUARD FTSE EMERGING MARKETS INDEX FUND ETF SHARES | $579,394 | 0.18% | 10,720 | Common | NONE |
| 64110L106 | NFLX | NETFLIX INC | $571,035 | 0.17% | 5,939 | Common | NONE |
| 75508B104 | RYAM | Rayonier Advanced Ma | $569,242 | 0.17% | 51,422 | Common | NONE |
| 04626A103 | ALAB | ASTERA LABS INC | $567,947 | 0.17% | 5,182 | Common | NONE |
| 718172109 | PM | PHILIP MORRIS INTL INC | $559,127 | 0.17% | 3,380 | Common | NONE |
| 293792107 | EPD | ENTERPRISE PRODS PART LP | $542,928 | 0.16% | 14,348 | Common | NONE |
| 464287473 | IWS | ISHARES RUSSELL MID-CAP VALUE ETF | $540,987 | 0.16% | 3,712 | Common | NONE |
| 693506107 | PPG | PPG INDS INC | $538,355 | 0.16% | 5,037 | Common | NONE |
| 464288869 | IWC | ISHARES MICRO-CAP ETF | $498,462 | 0.15% | 3,123 | Common | NONE |
| 89147L886 | TYG | TORTOISE ENERGY INFRASTR | $487,035 | 0.15% | 9,770 | Common | NONE |
| 36828A101 | GEV | GE VERNOVA INC | $441,687 | 0.13% | 506 | Common | NONE |
| 452327109 | ILMN | ILLUMINA INC | $441,024 | 0.13% | 3,578 | Common | NONE |
| L8681T102 | SPOT | SPOTIFY TECHNOLOGY S A F | $439,328 | 0.13% | 906 | Common | NONE |
| 46432F834 | IXUS | iShares Core MSCI Totl Intl STCK ETF | $429,908 | 0.13% | 4,962 | Common | NONE |
| 76882G107 | OPP | RIVERNORTH/DOUBLELINE ST | $422,686 | 0.13% | 55,109 | Common | NONE |
| 747525103 | QCOM | QUALCOMM INC | $420,982 | 0.13% | 3,269 | Common | NONE |
| 896215209 | TRS | TRIMAS CORP | $413,310 | 0.13% | 11,500 | Common | NONE |
| 83413U100 | SLRC | SLR INVESTMENT CORP | $393,811 | 0.12% | 27,520 | Common | NONE |
| 149123101 | CAT | CATERPILLAR INC | $379,026 | 0.11% | 535 | Common | NONE |
| 97717W851 | DXJ | WISDOMTREE JAPAN HEDGED EQUITY FUND | $372,663 | 0.11% | 2,350 | Common | NONE |
| 464287630 | IWN | ISHARES RUSSELL 2000 VALUE ETF | $359,842 | 0.11% | 1,898 | Common | NONE |
| 464287796 | IYE | ISHARES U.S. ENERGY ETF | $356,235 | 0.11% | 5,500 | Common | NONE |
| 922042742 | VT | VANGUARD TOTAL WORLD STOCK INDEX FUND ETF SHARES | $351,255 | 0.11% | 2,539 | Common | NONE |
| 00214Q302 | ARKG | ARK GENOMIC REVOLUTION ETF | $344,675 | 0.10% | 13,046 | Common | NONE |
| 969457100 | WMB | WILLIAMS COS INC | $338,063 | 0.10% | 4,645 | Common | NONE |
| 46137V357 | RSP | INVESCO S&P 500 EQUAL WEIGHT ETF | $322,928 | 0.10% | 1,683 | Common | NONE |
| 718546104 | PSX | PHILLIPS 66 | $316,629 | 0.10% | 1,738 | Common | NONE |
| 808524508 | SCHM | SCHWAB U.S. MID-CAP ETF | $315,040 | 0.10% | 10,176 | Common | NONE |
| 233051200 | DBEF | XTRACKERS MSCI EAFE HEDGED EQUITY ETF | $312,751 | 0.09% | 6,331 | Common | NONE |
| 14040H105 | COF | CAPITAL ONE FINL CORP | $304,293 | 0.09% | 1,668 | Common | NONE |
| 578473100 | MAYS | MAYS J W INC | $293,113 | 0.09% | 7,326 | Common | NONE |
| 219350105 | GLW | CORNING INC | $271,940 | 0.08% | 2,000 | Common | NONE |
| 09581B103 | OWL | BLUE OWL CAP INC CLASS A | $264,825 | 0.08% | 29,006 | Common | NONE |
| 00039J822 | ILOW | Ab Active Etfs Inc (international Low Volatility Equity Etf) | $256,515 | 0.08% | 6,013 | Common | NONE |
| 78464A870 | XBI | STATE STREET SPDR S&P BIOTECH ETF | $255,460 | 0.08% | 2,000 | Common | NONE |
| 89417E109 | TRV | TRAVELERS COS INC | $250,845 | 0.08% | 860 | Common | NONE |
| 02209S103 | MO | ALTRIA GROUP INC | $243,235 | 0.07% | 3,683 | Common | NONE |
| 88080T104 | WULF | Terawulf Inc Com | $234,920 | 0.07% | 16,280 | Common | NONE |
| 922908629 | VO | VANGUARD MID-CAP INDEX FUND ETF SHARES | $232,288 | 0.07% | 809 | Common | NONE |
| 647551100 | NMFC | NEW MTN FIN CORP | $230,317 | 0.07% | 29,680 | Common | NONE |
| 37954Y632 | AIQ | GLOBAL X ARTIFICIAL INTELLIGENCE & TECHNOLOGY ETF | $226,256 | 0.07% | 4,848 | Common | NONE |
| 81758H106 | SERV | SERVE ROBOTICS INC | $223,027 | 0.07% | 26,425 | Common | NONE |
| 437076102 | HD | HOME DEPOT INC | $222,001 | 0.07% | 675 | Common | NONE |
| 552953101 | MGM | MGM RESORTS INTL | $213,919 | 0.06% | 5,780 | Common | NONE |
| H2927K103 | AMRZ | AMRIZE LTD F | $210,075 | 0.06% | 3,750 | Common | NONE |
| 58933Y105 | MRK | MERCK & CO. INC. | $209,310 | 0.06% | 1,739 | Common | NONE |
| 92939U106 | WEC | WEC ENERGY GROUP INC | $209,081 | 0.06% | 1,806 | Common | NONE |
| 57636Q104 | MA | MASTERCARD INC CLASS CLASS A | $205,471 | 0.06% | 411 | Common | NONE |
| 808524805 | SCHF | SCHWAB INTERNATIONAL EQUITY ETF | $202,733 | 0.06% | 8,191 | Common | NONE |
| 09857L108 | BKNG | BOOKING HLDGS INC FORWARD SPLIT WITH STOCK SPLIT SHARES | $202,095 | 0.06% | 48 | Common | NONE |
| N30577105 | ZGN | ERMENEGILDO ZEGNA N V F | $190,426 | 0.06% | 18,275 | Common | NONE |
| 67072T108 | JFR | NUVEEN FLOATING RATE INC | $175,983 | 0.05% | 23,402 | Common | NONE |
| 969136100 | WVVI | WILLAMETTE VY VINEYARD I | $140,836 | 0.04% | 54,800 | Common | NONE |
| 004468500 | ACHV | Achieve Life | $102,885 | 0.03% | 34,995 | Common | NONE |
| 00091G104 | ACVA | ACV AUCTIONS INC CLASS A | $70,833 | 0.02% | 16,706 | Common | NONE |
| 86164T107 | EDF | VIRTUS STONE HARBOR EMER | $47,800 | 0.01% | 10,000 | Common | NONE |
| 142038108 | CRBU | CARIBOU BIOSCIENCES INC | $38,000 | 0.01% | 20,000 | Common | NONE |
| 23283M101 | CYDY | CYTODYN INC | $6,850 | 0.00% | 25,000 | Common | NONE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.