Institutional
Next Capital Management LLC
CIK 0001752762
$330.2M
Reported AUM
134
Positions
Q1 2026
Period
2026-05-07
Filed
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%.
Portfolio · Q1 2026
Top holdings
QoQ vs Q4 2025
| # | Stock | Issuer | Price | Day % | 1Y Gr. | 5Y Gr. | Value | % of book | Δ shares (QoQ) | Status |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | IVV | ISHARES CORE S&P 500 ETF | $740.91 | -2.62% | 24.60% | 80.03% | $46.1M | 13.97% | +765 | +1.1% |
| 2 | MFIC | MIDCAP FINL INVESTME | $10.48 | -3.05% | -9.53% | 34.17% | $21.0M | 6.37% | +387,303 | +26.1% |
| 3 | OBDC | BLUE OWL CAP CORP | $11.02 | -2.48% | -14.76% | 29.46% | $15.8M | 4.78% | +1,219,235 | +610.9% |
| 4 | IEFA | ISHARES CORE MSCI EAFE ETF | $95.56 | -2.60% | 18.86% | 46.61% | $14.5M | 4.38% | +13,695 | +9.4% |
| 5 | QQQ | INVESCO QQQ TR | $705.06 | -4.80% | 33.69% | 99.06% | $11.6M | 3.51% | −1,333 | −6.2% |
| 6 | TCPC | BLACKROCK TCP CAP CORP | $3.68 | -3.41% | -44.10% | -50.77% | $11.0M | 3.33% | +366,008 | +13.6% |
| 7 | IEMG | ISHARES CORE MSCI EMERGING MARKETS ETF | $78.63 | -6.40% | 38.44% | 42.72% | $10.6M | 3.20% | +9,096 | +6.4% |
| 8 | VTI | VANGUARD TOTAL STOCK MARKET INDEX FUND ETF SHARES | $363.38 | -2.68% | 24.59% | 71.45% | $10.0M | 3.03% | +986 | +3.3% |
| 9 | META | META PLATFORMS INC CLASS CLASS A | $593.00 | -5.51% | -14.74% | 67.74% | $9.3M | 2.82% | −315 | −1.9% |
| 10 | IWF | ISHARES RUSSELL 1000 GROWTH ETF | $122.69 | -3.26% | 20.87% | 79.95% | $9.1M | 2.76% | −85 | −0.4% |
| 11 | AMZN | AMAZON.COM INC | $246.03 | -3.06% | 15.20% | 47.87% | $8.9M | 2.69% | −2,538 | −5.6% |
| 12 | IVW | ISHARES S&P 500 GROWTH ETF | $134.60 | -3.81% | 28.06% | 84.10% | $7.7M | 2.33% | +2,512 | +3.8% |
| 13 | GBDC | GOLUB CAP BDC INC | $13.04 | -1.14% | -3.91% | 34.77% | $7.2M | 2.17% | +322,992 | +132.3% |
| 14 | AAPL | APPLE INC | $307.34 | -1.25% | 51.31% | 116.17% | $6.8M | 2.05% | −1,723 | −6.1% |
| 15 | IJH | ISHARES CORE S&P MID-CAPETF | $73.95 | -2.00% | 22.71% | 46.95% | $6.2M | 1.89% | +11,417 | +14.1% |
| 16 | IJR | ISHARES CORE S&P SMALL-CAP ETF | $137.68 | -1.84% | 29.63% | 34.80% | $6.2M | 1.87% | +2,774 | +5.9% |
| 17 | IWD | ISHARES RUSSELL 1000 VALUE ETF | $236.42 | -1.91% | 26.12% | 62.18% | $6.0M | 1.82% | +2,386 | +9.3% |
| 18 | VOO | VANGUARD S&P 500 ETF | $678.00 | -2.59% | 24.60% | 80.00% | $5.1M | 1.54% | +95 | +1.1% |
| 19 | KKR | KKR & CO INC | $93.40 | -2.16% | -23.81% | 52.81% | $4.4M | 1.34% | +27,498 | +135.6% |
| 20 | SPY | STATE STREET SPDR S&P 500 ETF TRUST | $737.55 | -2.58% | 24.51% | 79.50% | $4.4M | 1.33% | +564 | +9.1% |
| 21 | IWB | ISHARES RUSSELL 1000 ETF | $403.01 | -2.58% | 23.62% | 73.29% | $4.3M | 1.29% | +4 | +0.0% |
| 22 | BRK/B | BERKSHIRE HATHAWAY CLASS B | — | — | — | — | $4.0M | 1.21% | +63 | +0.8% |
| 23 | NVDA | NVIDIA CORP | $205.10 | -6.20% | 44.92% | 955.49% | $3.9M | 1.19% | −2,338 | −9.4% |
| 24 | FNDX | SCHWAB FUNDAMENTAL U.S. LARGE COMPANY ETF | $30.74 | -1.66% | 30.40% | 83.97% | $3.6M | 1.08% | +7,771 | +6.5% |
| 25 | VIG | VANGUARD DIVIDEND APPRECIATION INDEX FUND ETF SHARES | $233.28 | -1.37% | 18.28% | 59.52% | $3.1M | 0.95% | +1,257 | +9.4% |
| 26 | SCHA | SCHWAB U.S. SMALL-CAP ETF | $33.19 | -3.41% | 35.05% | 39.97% | $3.1M | 0.95% | −11,252 | −9.4% |
| 27 | SCHX | SCHWAB U.S. LARGE-CAP ETF | $29.05 | -2.65% | 23.85% | 74.97% | $2.9M | 0.89% | +458 | +0.4% |
| 28 | QQQM | INVESCO NASDAQ 100 ETF | $290.35 | -4.78% | 33.80% | 99.76% | $2.6M | 0.80% | −27 | −0.2% |
| 29 | XLV | STATE STREET HEALTH CARESELECT SECTOR SPDR ETF | $153.01 | 0.61% | 15.89% | 25.01% | $2.6M | 0.80% | +36 | +0.2% |
| 30 | BX | BLACKSTONE INC | $115.35 | -2.70% | -14.89% | 18.68% | $2.6M | 0.78% | +17,762 | +389.5% |
| 31 | APO | APOLLO GLOBAL MGMT INC NCLASS CLASS A | $128.03 | -0.30% | — | — | $2.4M | 0.74% | +20,104 | +1142.9% |
| 32 | VUG | VANGUARD GROWTH INDEX FUND ETF SHARES | $85.93 | -3.62% | — | — | $2.2M | 0.67% | +125 | +2.5% |
| 33 | CRM | SALESFORCE INC | $185.66 | -1.64% | — | — | $2.1M | 0.64% | +11,350 | NEW |
| 34 | MSFT | MICROSOFT CORP | $416.67 | -2.66% | — | — | $2.1M | 0.63% | +1,441 | +34.2% |
| 35 | EEM | ISHARES MSCI EMERGING MARKETS ETF | $64.59 | -6.53% | — | — | $2.1M | 0.63% | +1,750 | +5.0% |
| 36 | IUSV | ISHARES CORE S&P U.S. VALUE ETF | $109.66 | -1.15% | — | — | $2.0M | 0.61% | −821 | −4.0% |
| 37 | VGT | VANGUARD INFORMATION TECHNOLOGY INDEX FUND ETF SHARES | $115.28 | -6.14% | — | — | $1.9M | 0.59% | — | HELD |
| 38 | GOOGL | ALPHABET INC CLASS CLASS A | $368.53 | -0.98% | — | — | $1.9M | 0.58% | +164 | +2.5% |
| 39 | GOOG | ALPHABET INC CLASS CLASS C | $365.76 | -0.95% | — | — | $1.8M | 0.55% | −26 | −0.4% |
| 40 | XLF | STATE STREET FINANCIAL SELECT SECTOR SPDR ETF | $52.30 | 0.21% | — | — | $1.7M | 0.52% | +1,604 | +4.9% |
| 41 | LLY | ELI LILLY AND CO | $1131.42 | 0.55% | — | — | $1.6M | 0.49% | — | HELD |
| 42 | VV | VANGUARD LARGE-CAP INDEXFUND ETF SHARES | $339.76 | -2.62% | — | — | $1.6M | 0.49% | +867 | +19.2% |
| 43 | SCHW | CHARLES SCHWAB CORP | $88.84 | 0.95% | — | — | $1.6M | 0.48% | +600 | +3.7% |
| 44 | IWP | ISHARES RUSSELL MID-CAP GROWTH ETF | $139.23 | -2.75% | — | — | $1.5M | 0.45% | +2,401 | +26.0% |
| 45 | KWEB | KRANESHARES CSI CHINA INTERNET ETF | $26.38 | -2.76% | — | — | $1.4M | 0.42% | — | HELD |
| 46 | JNJ | JOHNSON & JOHNSON | $232.77 | 2.02% | — | — | $1.4M | 0.41% | −62 | −1.1% |
| 47 | GS | GOLDMAN SACHS GROUP INC | $1038.68 | -4.94% | — | — | $1.3M | 0.39% | +120 | +8.5% |
| 48 | VOT | VANGUARD MID-CAP GROWTH INDEX FUND ETF SHARES | $293.53 | -3.46% | — | — | $1.3M | 0.39% | — | HELD |
| 49 | KO | THE COCA-COLA CO | $79.48 | 3.46% | — | — | $1.3M | 0.38% | +225 | +1.4% |
| 50 | SCHD | SCHWAB U.S. DIVIDEND EQUITY ETF | $32.30 | -0.89% | — | — | $1.3M | 0.38% | +539 | +1.3% |
| 51 | VYM | VANGUARD HIGH DIVIDEND YIELD INDEX FUND ETF SHARES | $158.24 | -1.35% | — | — | $1.2M | 0.37% | +415 | +5.3% |
| 52 | EFA | ISHARES MSCI EAFE ETF | $102.26 | -2.56% | — | — | $1.2M | 0.35% | +1,793 | +17.6% |
| 53 | IWM | ISHARES RUSSELL 2000 ETF | $281.65 | -3.55% | — | — | $1.1M | 0.34% | +110 | +2.5% |
| 54 | XLK | STATE STREET TECHNOLOGY SELECT SECTOR SPDR ETF | $180.30 | -6.66% | — | — | $1.1M | 0.34% | +29 | +0.3% |
| 55 | JPST | JPMORGAN ULTRA-SHORT INCOME ETF | $50.41 | -0.04% | — | — | $1.1M | 0.33% | −10,964 | −33.7% |
| 56 | MDB | MONGODB INC CLASS CLASS A | $350.74 | -7.74% | — | — | $1.1M | 0.33% | +173 | +4.1% |
| 57 | VEA | VANGUARD FTSE DEVELOPED MARKETS INDEX FUND ETF SHARES | $69.17 | -3.72% | — | — | $1.1M | 0.33% | +726 | +4.5% |
| 58 | TPG | TPG INC CLASS CLASS A | $41.19 | -2.28% | — | — | $1.1M | 0.32% | +25,978 | NEW |
| 59 | XOM | EXXON MOBIL CORP | $149.92 | -1.39% | — | — | $973K | 0.29% | +190 | +3.4% |
| 60 | JPM | JPMORGAN CHASE & CO | $312.37 | 0.48% | — | — | $969K | 0.29% | +222 | +7.2% |
| 61 | PH | PARKER-HANNIFIN CORP | $882.34 | 1.16% | — | — | $927K | 0.28% | — | HELD |
| 62 | EMLP | FIRST TRUST NORTH AMERICAN ENERGY INFRASTRUCTURE FUND | $43.46 | 0.16% | — | — | $862K | 0.26% | +408 | +2.1% |
| 63 | GLD | SPDR GOLD SHARES | $396.24 | -3.65% | — | — | $852K | 0.26% | +1,979 | NEW |
| 64 | SCHB | SCHWAB U.S. BROAD MARKETETF | $28.45 | -2.70% | — | — | $834K | 0.25% | +93 | +0.3% |
| 65 | GDX | VANECK GOLD MINERS ETF | $78.84 | -8.75% | — | — | $782K | 0.24% | −3,230 | −27.5% |
| 66 | ECL | ECOLAB INC | — | — | — | — | $778K | 0.24% | −730 | −20.0% |
| 67 | IGV | ISHARES EXPANDED TECH-SOFTWARE SECTOR ETF | $95.85 | -4.21% | — | — | $769K | 0.23% | +9,611 | NEW |
| 68 | AEP | AMERICAN ELEC PWR CO INC | $129.14 | 1.06% | — | — | $741K | 0.22% | +577 | +11.4% |
| 69 | SPHQ | INVESCO S&P 500 QUALITY ETF | $84.95 | -2.19% | — | — | $716K | 0.22% | −2,080 | −17.9% |
| 70 | OKE | ONEOK INC NEW | $88.25 | -0.79% | — | — | $712K | 0.22% | — | HELD |
| 71 | ACWX | ISHARES MSCI ACWI EX U.S. ETF | $73.92 | -3.88% | — | — | $682K | 0.21% | — | HELD |
| 72 | VTV | VANGUARD VALUE INDEX FUND ETF SHARES | $212.02 | -1.36% | — | — | $677K | 0.21% | +422 | +13.9% |
| 73 | IJS | ISHARES S&P SMALL-CAP 600 VALUE ETF | $130.17 | -1.74% | — | — | $651K | 0.20% | +2,266 | +70.2% |
| 74 | BN | BROOKFIELD CORP FCLASS A | $44.60 | -1.00% | — | — | $637K | 0.19% | — | HELD |
| 75 | BRW | SABA CAPITAL INCOME & OP | $6.70 | -1.03% | — | — | $599K | 0.18% | — | HELD |
| 76 | HON | HONEYWELL INTL INC | $213.97 | -1.69% | — | — | $588K | 0.18% | +610 | +30.6% |
| 77 | VWO | VANGUARD FTSE EMERGING MARKETS INDEX FUND ETF SHARES | $58.03 | -3.78% | — | — | $579K | 0.18% | +772 | +7.8% |
| 78 | NFLX | NETFLIX INC | $82.18 | 0.76% | — | — | $571K | 0.17% | −586 | −9.0% |
| 79 | RYAM | Rayonier Advanced Ma | $8.10 | -5.26% | — | — | $569K | 0.17% | −30,823 | −37.5% |
| 80 | ALAB | ASTERA LABS INC | $317.06 | -11.45% | — | — | $568K | 0.17% | — | HELD |
| 81 | PM | PHILIP MORRIS INTL INC | $178.29 | 1.89% | — | — | $559K | 0.17% | +3,380 | NEW |
| 82 | EPD | ENTERPRISE PRODS PART LP | $37.81 | -0.97% | — | — | $543K | 0.16% | +355 | +2.5% |
| 83 | IWS | ISHARES RUSSELL MID-CAP VALUE ETF | $159.43 | -1.87% | — | — | $541K | 0.16% | +1,466 | +65.3% |
| 84 | PPG | PPG INDS INC | $113.80 | 1.64% | — | — | $538K | 0.16% | −92 | −1.8% |
| 85 | IWC | ISHARES MICRO-CAP ETF | $181.35 | -5.14% | — | — | $498K | 0.15% | — | HELD |
| 86 | TYG | TORTOISE ENERGY INFRASTR | $43.20 | 0.21% | — | — | $487K | 0.15% | — | HELD |
| 87 | GEV | GE VERNOVA INC | $933.61 | -3.09% | — | — | $442K | 0.13% | −5 | −1.0% |
| 88 | ILMN | ILLUMINA INC | $162.32 | -3.42% | — | — | $441K | 0.13% | — | HELD |
| 89 | SPOT | SPOTIFY TECHNOLOGY S A F | $496.95 | 0.68% | — | — | $439K | 0.13% | +46 | +5.3% |
| 90 | IXUS | iShares Core MSCI Totl Intl STCK ETF | $93.31 | -3.86% | — | — | $430K | 0.13% | — | HELD |
| 91 | OPP | RIVERNORTH/DOUBLELINE ST | $7.56 | -1.09% | — | — | $423K | 0.13% | — | HELD |
| 92 | QCOM | QUALCOMM INC | $215.94 | -10.98% | — | — | $421K | 0.13% | +24 | +0.7% |
| 93 | TRS | TRIMAS CORP | $39.17 | -0.96% | — | — | $413K | 0.13% | — | HELD |
| 94 | SLRC | SLR INVESTMENT CORP | $12.79 | -2.74% | — | — | $394K | 0.12% | — | HELD |
| 95 | CAT | CATERPILLAR INC | $904.28 | -3.85% | — | — | $379K | 0.11% | — | HELD |
| 96 | DXJ | WISDOMTREE JAPAN HEDGED EQUITY FUND | $169.25 | -2.44% | — | — | $373K | 0.11% | +2,350 | NEW |
| 97 | IWN | ISHARES RUSSELL 2000 VALUE ETF | $209.44 | -2.60% | — | — | $360K | 0.11% | +1,898 | NEW |
| 98 | IYE | ISHARES U.S. ENERGY ETF | $61.09 | -2.10% | — | — | $356K | 0.11% | — | HELD |
| 99 | VT | VANGUARD TOTAL WORLD STOCK INDEX FUND ETF SHARES | $153.68 | -3.07% | — | — | $351K | 0.11% | +175 | +7.4% |
| 100 | ARKG | ARK GENOMIC REVOLUTION ETF | $33.41 | -7.89% | — | — | $345K | 0.10% | — | HELD |
| 101 | WMB | WILLIAMS COS INC | — | — | — | — | $338K | 0.10% | — | HELD |
| 102 | RSP | INVESCO S&P 500 EQUAL WEIGHT ETF | — | — | — | — | $323K | 0.10% | −22 | −1.3% |
| 103 | PSX | PHILLIPS 66 | — | — | — | — | $317K | 0.10% | — | HELD |
| 104 | SCHM | SCHWAB U.S. MID-CAP ETF | — | — | — | — | $315K | 0.10% | +7 | +0.1% |
| 105 | DBEF | XTRACKERS MSCI EAFE HEDGED EQUITY ETF | — | — | — | — | $313K | 0.09% | — | HELD |
| 106 | COF | CAPITAL ONE FINL CORP | — | — | — | — | $304K | 0.09% | −588 | −26.1% |
| 107 | MAYS | MAYS J W INC | — | — | — | — | $293K | 0.09% | — | HELD |
| 108 | GLW | CORNING INC | — | — | — | — | $272K | 0.08% | +2,000 | NEW |
| 109 | OWL | BLUE OWL CAP INC CLASS A | — | — | — | — | $265K | 0.08% | +29,006 | NEW |
| 110 | ILOW | Ab Active Etfs Inc (international Low Volatility Equity Etf) | — | — | — | — | $257K | 0.08% | — | HELD |
| 111 | XBI | STATE STREET SPDR S&P BIOTECH ETF | — | — | — | — | $255K | 0.08% | — | HELD |
| 112 | TRV | TRAVELERS COS INC | — | — | — | — | $251K | 0.08% | −145 | −14.4% |
| 113 | MO | ALTRIA GROUP INC | — | — | — | — | $243K | 0.07% | +3,683 | NEW |
| 114 | WULF | Terawulf Inc Com | — | — | — | — | $235K | 0.07% | +5,755 | +54.7% |
| 115 | VO | VANGUARD MID-CAP INDEX FUND ETF SHARES | — | — | — | — | $232K | 0.07% | +1 | +0.1% |
| 116 | NMFC | NEW MTN FIN CORP | — | — | — | — | $230K | 0.07% | — | HELD |
| 117 | AIQ | GLOBAL X ARTIFICIAL INTELLIGENCE & TECHNOLOGY ETF | — | — | — | — | $226K | 0.07% | — | HELD |
| 118 | SERV | SERVE ROBOTICS INC | — | — | — | — | $223K | 0.07% | +10,000 | +60.9% |
| 119 | HD | HOME DEPOT INC | — | — | — | — | $222K | 0.07% | +675 | NEW |
| 120 | MGM | MGM RESORTS INTL | — | — | — | — | $214K | 0.06% | +30 | +0.5% |
| 121 | AMRZ | AMRIZE LTD F | — | — | — | — | $210K | 0.06% | — | HELD |
| 122 | MRK | MERCK & CO. INC. | — | — | — | — | $209K | 0.06% | +1,739 | NEW |
| 123 | WEC | WEC ENERGY GROUP INC | — | — | — | — | $209K | 0.06% | +1,806 | NEW |
| 124 | MA | MASTERCARD INC CLASS CLASS A | — | — | — | — | $205K | 0.06% | +411 | NEW |
| 125 | SCHF | SCHWAB INTERNATIONAL EQUITY ETF | — | — | — | — | $203K | 0.06% | +8,191 | NEW |
| 126 | BKNG | BOOKING HLDGS INC FORWARD SPLIT WITH STOCK SPLIT SHARES | — | — | — | — | $202K | 0.06% | — | HELD |
| 127 | ZGN | ERMENEGILDO ZEGNA N V F | — | — | — | — | $190K | 0.06% | — | HELD |
| 128 | JFR | NUVEEN FLOATING RATE INC | — | — | — | — | $176K | 0.05% | −6,456 | −21.6% |
| 129 | WVVI | WILLAMETTE VY VINEYARD I | — | — | — | — | $141K | 0.04% | — | HELD |
| 130 | ACHV | Achieve Life | — | — | — | — | $103K | 0.03% | +18,865 | +117.0% |
| 131 | ACVA | ACV AUCTIONS INC CLASS A | — | — | — | — | $71K | 0.02% | — | HELD |
| 132 | EDF | VIRTUS STONE HARBOR EMER | — | — | — | — | $48K | 0.01% | — | HELD |
| 133 | CRBU | CARIBOU BIOSCIENCES INC | — | — | — | — | $38K | 0.01% | — | HELD |
| 134 | CYDY | CYTODYN INC | — | — | — | — | $7K | 0.00% | −7,500 | −23.1% |
| 135 | BRK/A | BERKSHIRE HATHAWAY INC DCLASS A | — | — | — | — | — | — | −2 | EXITED |
| 136 | TFX | TELEFLEX INC | — | — | — | — | — | — | −10,423 | EXITED |
| 137 | CSN | CSG SYS INTL INC | — | — | — | — | — | — | −9,000 | EXITED |
| 138 | BIZD | VANECK BDC INCOME ETF | — | — | — | — | — | — | −46,000 | EXITED |
| 139 | CMCSA | COMCAST CORP NEW TRADES WITH DUE BILLS | — | — | — | — | — | — | −10,928 | EXITED |
| 140 | SLV | ISHARES SILVER TRUST ETF | — | — | — | — | — | — | −4,585 | EXITED |
| 141 | PLTR | PALANTIR TECHNOLOGIES INCLASS CLASS A | — | — | — | — | — | — | −1,578 | EXITED |
| 142 | LII | LENNOX INTL INC | — | — | — | — | — | — | −563 | EXITED |
| 143 | BNDX | Vanguard Total International BND ETF | — | — | — | — | — | — | −5,519 | EXITED |
| 144 | CBZ | CBIZ INC | — | — | — | — | — | — | −4,500 | EXITED |
| 145 | BDX | BECTON DICKINSON & CO | — | — | — | — | — | — | −1,164 | EXITED |
| 146 | INDA | ISHARES MSCI INDIA INDEXETF | — | — | — | — | — | — | −4,000 | EXITED |
| 147 | V | VISA INC CLASS CLASS A | — | — | — | — | — | — | −603 | EXITED |
| 148 | DIVB | ISHARES CORE DIVIDEND ETF | — | — | — | — | — | — | −3,854 | EXITED |
| 149 | ABBV | ABBVIE INC | — | — | — | — | — | — | −889 | EXITED |
| 150 | WPLCF | WISE PLC ORDF | — | — | — | — | — | — | −11,116 | EXITED |
| 151 | DCGO | DOCGO INC | — | — | — | — | — | — | −15,000 | EXITED |
Source: SEC EDGAR · accession 0001437749-26-015365. 13F discloses long positions only — shorts, foreign equities, and options are excluded.