Next Capital Management LLC
13F Reported Value
ⓘ$330.2M
Holdings
134
Latest Filing
2026-03-31
Filing Quarter
Q1 2026
Portfolio Overview
Next Capital Management LLC disclosed 134 positions worth $330.2M in its Form 13F-HR for Q1 2026, followed by $MFIC and $OBDC. During the quarter the fund opened 15 new positions and exited 16 — including a new stake in $CRM and a full exit from $TFX. The portfolio is most concentrated in Other (75.2% of disclosed assets). All figures are sourced directly from Next Capital Management LLC’s Form 13F-HR filing with the SEC under CIK 1752762.
AI Fund Analysis
Diversifying
$MFIC
$OBDC
$QQQSector Allocation
AUM History
Top Equity Holdings by Value
Quarterly Activity — Q1 2026
Click any card to unlockTop Holdings
ISHARES CORE S&P 500 ETF
—Quality
$46.1M70,599 sh- $21.0M1,871,652 sh
- —
Quality
$15.8M1,418,819 sh ISHARES CORE MSCI EAFE ETF
—Quality
$14.5M159,750 sh- —
Quality
$11.6M20,091 sh - —
Quality
$11.0M3,049,547 sh ISHARES CORE MSCI EMERGING MARKETS ETF
—Quality
$10.6M151,521 shVANGUARD TOTAL STOCK MARKET INDEX FUND ETF SHARES
—Quality
$10.0M31,160 sh- 80.9
Quality
$9.3M16,296 sh ISHARES RUSSELL 1000 GROWTH ETF
—Quality
$9.1M21,386 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
| ISHARES CORE S&P 500 ETF | — | $46.1M | 70,599 |
| MidCap Financial Investment Corp$MFIC | — | $21.0M | 1,871,652 |
| Blue Owl Capital Corp$OBDC | — | $15.8M | 1,418,819 |
| ISHARES CORE MSCI EAFE ETF | — | $14.5M | 159,750 |
| INVESCO QQQ TRUST, SERIES 1$QQQ | — | $11.6M | 20,091 |
 BlackRock TCP Capital Corp.$TCPC | — | $11.0M | 3,049,547 |
| ISHARES CORE MSCI EMERGING MARKETS ETF | — | $10.6M | 151,521 |
| VANGUARD TOTAL STOCK MARKET INDEX FUND ETF SHARES | — | $10.0M | 31,160 |
 Meta Platforms, Inc.$META | 80.9 | $9.3M | 16,296 |
| ISHARES RUSSELL 1000 GROWTH ETF | — | $9.1M | 21,386 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of Next Capital Management LLC's 134 positions.
Showing top 10 of 134 holdings.
Sector Allocation
Other
$248.4M
Technology
$30.9M
Financials
$24.5M
Consumer Discretionary
$9.7M
Healthcare
$3.3M
Industrials
$3.0M
Energy
$2.9M
Materials
$2.4M
Full Holdings — Next Capital Management LLC (Q1 2026)
All 134 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | — | ISHARES CORE S&P 500 ETF | $46.1M | 14.0% | +1% | — |
| 2 | $MFIC | MidCap Financial Investment Corp | $21.0M | 6.4% | +26% | — |
| 3 | $OBDC | Blue Owl Capital Corp | $15.8M | 4.8% | +611% | — |
| 4 | — | ISHARES CORE MSCI EAFE ETF | $14.5M | 4.4% | +9% | — |
| 5 | $QQQ | INVESCO QQQ TRUST, SERIES 1 | $11.6M | 3.5% | -6% | — |
| 6 | $TCPC | BlackRock TCP Capital Corp. | $11.0M | 3.3% | +14% | — |
| 7 | — | ISHARES CORE MSCI EMERGING MARKETS ETF | $10.6M | 3.2% | +6% | — |
| 8 | — | VANGUARD TOTAL STOCK MARKET INDEX FUND ETF SHARES | $10.0M | 3.0% | +3% | — |
| 9 | $META | Meta Platforms, Inc. | $9.3M | 2.8% | -2% | 80.9 |
| 10 | — | ISHARES RUSSELL 1000 GROWTH ETF | $9.1M | 2.8% | -0% | — |
| 11 |  $AMZN | AMAZON COM INC | $8.9M | 2.7% | -6% | 74.6 |
| 12 | — | ISHARES S&P 500 GROWTH ETF | $7.7M | 2.3% | +4% | — |
| 13 |  $GBDC | GOLUB CAPITAL BDC, Inc. | $7.2M | 2.2% | +132% | — |
| 14 |  $AAPL | Apple Inc. | $6.8M | 2.0% | -6% | 76.1 |
| 15 | — | ISHARES CORE S&P MID-CAPETF | $6.2M | 1.9% | +14% | — |
| 16 | — | ISHARES CORE S&P SMALL-CAP ETF | $6.2M | 1.9% | +6% | — |
| 17 | — | ISHARES RUSSELL 1000 VALUE ETF | $6.0M | 1.8% | +9% | — |
| 18 | — | VANGUARD S&P 500 ETF | $5.1M | 1.5% | +1% | — |
| 19 |  $KKR | KKR & Co. Inc. | $4.4M | 1.3% | +136% | 49.8 |
| 20 |  $SPY | SPDR S&P 500 ETF TRUST | $4.4M | 1.3% | +9% | — |
| 21 | — | ISHARES RUSSELL 1000 ETF | $4.3M | 1.3% | +0% | — |
| 22 |  $BRK.B | BERKSHIRE HATHAWAY INC | $4.0M | 1.2% | +1% | 64.5 |
| 23 |  $NVDA | NVIDIA CORP | $3.9M | 1.2% | -9% | 90.2 |
| 24 | — | SCHWAB FUNDAMENTAL U.S. LARGE COMPANY ETF | $3.6M | 1.1% | +6% | — |
| 25 | — | VANGUARD DIVIDEND APPRECIATION INDEX FUND ETF SHARES | $3.1M | 0.9% | +9% | — |
| 26 | — | SCHWAB U.S. SMALL-CAP ETF | $3.1M | 0.9% | -9% | — |
| 27 | — | SCHWAB U.S. LARGE-CAP ETF | $2.9M | 0.9% | +0% | — |
| 28 |  $IVZ | Invesco Ltd. | $2.6M | 0.8% | -0% | — |
| 29 | — | STATE STREET HEALTH CARESELECT SECTOR SPDR ETF | $2.6M | 0.8% | +0% | — |
| 30 |  $BX | Blackstone Inc. | $2.6M | 0.8% | +390% | 68 |
| 31 |  $APO | Apollo Global Management, Inc. | $2.4M | 0.7% | +1143% | 55.7 |
| 32 | — | VANGUARD GROWTH INDEX FUND ETF SHARES | $2.2M | 0.7% | +3% | — |
| 33 |  $CRM | Salesforce, Inc. | $2.1M | 0.6% | NEW | 75.2 |
| 34 |  $MSFT | MICROSOFT CORP | $2.1M | 0.6% | +34% | 83.7 |
| 35 | — | ISHARES MSCI EMERGING MARKETS ETF | $2.1M | 0.6% | +5% | — |
| 36 | — | ISHARES CORE S&P U.S. VALUE ETF | $2.0M | 0.6% | -4% | — |
| 37 | — | VANGUARD INFORMATION TECHNOLOGY INDEX FUND ETF SHARES | $1.9M | 0.6% | +0% | — |
| 38 |  $GOOG | Alphabet Inc. | $1.9M | 0.6% | +3% | 80.2 |
| 39 |  $GOOGL | Alphabet Inc. | $1.8M | 0.6% | -0% | 80.2 |
| 40 | — | STATE STREET FINANCIAL SELECT SECTOR SPDR ETF | $1.7M | 0.5% | +5% | — |
| 41 |  $LLY | ELI LILLY & Co | $1.6M | 0.5% | +0% | 89.3 |
| 42 | — | VANGUARD LARGE-CAP INDEXFUND ETF SHARES | $1.6M | 0.5% | +19% | — |
| 43 |  $SCHW | SCHWAB CHARLES CORP | $1.6M | 0.5% | +4% | 77.2 |
| 44 | — | ISHARES RUSSELL MID-CAP GROWTH ETF | $1.5M | 0.5% | +26% | — |
| 45 | — | KRANESHARES CSI CHINA INTERNET ETF | $1.4M | 0.4% | +0% | — |
| 46 |  $JNJ | JOHNSON & JOHNSON | $1.4M | 0.4% | -1% | 72.8 |
| 47 |  $GS | GOLDMAN SACHS GROUP INC | $1.3M | 0.4% | +8% | — |
| 48 | — | VANGUARD MID-CAP GROWTH INDEX FUND ETF SHARES | $1.3M | 0.4% | +0% | — |
| 49 |  $KO | COCA COLA CO | $1.3M | 0.4% | +1% | 74 |
| 50 | — | SCHWAB U.S. DIVIDEND EQUITY ETF | $1.3M | 0.4% | +1% | — |
| 51 | — | VANGUARD HIGH DIVIDEND YIELD INDEX FUND ETF SHARES | $1.2M | 0.4% | +5% | — |
| 52 | — | ISHARES MSCI EAFE ETF | $1.2M | 0.3% | +18% | — |
| 53 | — | ISHARES RUSSELL 2000 ETF | $1.1M | 0.3% | +2% | — |
| 54 | — | STATE STREET TECHNOLOGY SELECT SECTOR SPDR ETF | $1.1M | 0.3% | +0% | — |
| 55 | — | JPMORGAN ULTRA-SHORT INCOME ETF | $1.1M | 0.3% | -34% | — |
| 56 |  $MDB | MongoDB, Inc. | $1.1M | 0.3% | +4% | 54.6 |
| 57 | — | VANGUARD FTSE DEVELOPED MARKETS INDEX FUND ETF SHARES | $1.1M | 0.3% | +5% | — |
| 58 |  $TPG | TPG Inc. | $1.1M | 0.3% | NEW | 67.6 |
| 59 |  $XOM | EXXON MOBIL CORP | $973,000 | 0.3% | +3% | 61.8 |
| 60 |  $JPM | JPMORGAN CHASE & CO | $968,585 | 0.3% | +7% | 35.6 |
| 61 |  $PH | Parker-Hannifin Corp | $926,573 | 0.3% | +0% | 73.8 |
| 62 | — | FIRST TRUST NORTH AMERICAN ENERGY INFRASTRUCTURE FUND | $862,416 | 0.3% | +2% | — |
| 63 |  $GLD | SPDR GOLD TRUST | $851,544 | 0.3% | NEW | — |
| 64 | — | SCHWAB U.S. BROAD MARKETETF | $833,776 | 0.3% | +0% | — |
| 65 | — | VANECK GOLD MINERS ETF | $782,064 | 0.2% | -27% | — |
| 66 |  $ECL | ECOLAB INC. | $778,109 | 0.2% | -20% | 64.3 |
| 67 | — | ISHARES EXPANDED TECH-SOFTWARE SECTOR ETF | $769,337 | 0.2% | NEW | — |
| 68 |  $AEP | AMERICAN ELECTRIC POWER CO INC | $740,864 | 0.2% | +11% | 75.4 |
| 69 | $IVZ | Invesco Ltd. | $716,410 | 0.2% | -18% | — |
| 70 |  $OKE | ONEOK INC /NEW/ | $712,273 | 0.2% | +0% | 72 |
| 71 | — | ISHARES MSCI ACWI EX U.S. ETF | $681,893 | 0.2% | +0% | — |
| 72 | — | VANGUARD VALUE INDEX FUND ETF SHARES | $677,467 | 0.2% | +14% | — |
| 73 | — | ISHARES S&P SMALL-CAP 600 VALUE ETF | $651,001 | 0.2% | +70% | — |
| 74 |  $BN | BROOKFIELD Corp /ON/ | $637,403 | 0.2% | +0% | — |
| 75 |  $BRW | Saba Capital Income & Opportunities Fund | $599,368 | 0.2% | +0% | — |
| 76 |  $HON | HONEYWELL INTERNATIONAL INC | $588,130 | 0.2% | +31% | 65.7 |
| 77 | — | VANGUARD FTSE EMERGING MARKETS INDEX FUND ETF SHARES | $579,394 | 0.2% | +8% | — |
| 78 |  $NFLX | NETFLIX INC | $571,035 | 0.2% | -9% | 86.7 |
| 79 |  $RYAM | RAYONIER ADVANCED MATERIALS INC. | $569,242 | 0.2% | -37% | 31.1 |
| 80 |  $ALAB | Astera Labs, Inc. | $567,947 | 0.2% | +0% | 77.7 |
| 81 |  $PM | Philip Morris International Inc. | $559,127 | 0.2% | NEW | 80.5 |
| 82 |  $EPD | ENTERPRISE PRODUCTS PARTNERS L.P. | $542,928 | 0.2% | +3% | 66.4 |
| 83 | — | ISHARES RUSSELL MID-CAP VALUE ETF | $540,987 | 0.2% | +65% | — |
| 84 |  $PPG | PPG INDUSTRIES INC | $538,355 | 0.2% | -2% | 57.1 |
| 85 | — | ISHARES MICRO-CAP ETF | $498,462 | 0.1% | +0% | — |
| 86 |  $TYG | TORTOISE ENERGY INFRASTRUCTURE CORP | $487,035 | 0.1% | +0% | — |
| 87 |  $GEV | GE Vernova Inc. | $441,687 | 0.1% | -1% | 70.1 |
| 88 |  $ILMN | ILLUMINA, INC. | $441,024 | 0.1% | +0% | 62.5 |
| 89 |  $SPOT | Spotify Technology S.A. | $439,328 | 0.1% | +5% | — |
| 90 | — | iShares Core MSCI Totl Intl STCK ETF | $429,908 | 0.1% | +0% | — |
| 91 |  $OPP | RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. | $422,686 | 0.1% | +0% | — |
| 92 |  $QCOM | QUALCOMM INC/DE | $420,982 | 0.1% | +1% | 81.9 |
| 93 |  $TRS | TRIMAS CORP | $413,310 | 0.1% | +0% | 47.8 |
| 94 |  $SLRC | SLR Investment Corp. | $393,811 | 0.1% | +0% | — |
| 95 |  $CAT | CATERPILLAR INC | $379,026 | 0.1% | +0% | 67.8 |
| 96 |  $WT | WisdomTree, Inc. | $372,663 | 0.1% | NEW | 62.9 |
| 97 | — | ISHARES RUSSELL 2000 VALUE ETF | $359,842 | 0.1% | NEW | — |
| 98 | — | ISHARES U.S. ENERGY ETF | $356,235 | 0.1% | +0% | — |
| 99 |  $DOV | DOVER Corp | $351,255 | 0.1% | +7% | 63.1 |
| 100 | — | ARK GENOMIC REVOLUTION ETF | $344,675 | 0.1% | +0% | — |
| 101 |  $WMB | WILLIAMS COMPANIES, INC. | $338,063 | 0.1% | +0% | 72.8 |
| 102 | $IVZ | Invesco Ltd. | $322,928 | 0.1% | -1% | — |
| 103 |  $PSX | Phillips 66 | $316,629 | 0.1% | +0% | 47.6 |
| 104 | — | SCHWAB U.S. MID-CAP ETF | $315,040 | 0.1% | +0% | — |
| 105 | — | XTRACKERS MSCI EAFE HEDGED EQUITY ETF | $312,751 | 0.1% | +0% | — |
| 106 |  $COF | CAPITAL ONE FINANCIAL CORP | $304,293 | 0.1% | -26% | 71 |
| 107 |  $MAYS | MAYS J W INC | $293,113 | 0.1% | +0% | — |
| 108 |  $GLW | CORNING INC /NY | $271,940 | 0.1% | NEW | 72.7 |
| 109 |  $OWL | BLUE OWL CAPITAL INC. | $264,825 | 0.1% | NEW | 59.4 |
| 110 | — | Ab Active Etfs Inc (international Low Volatility Equity Etf) | $256,515 | 0.1% | +0% | — |
| 111 | — | STATE STREET SPDR S&P BIOTECH ETF | $255,460 | 0.1% | +0% | — |
| 112 |  $TRV | TRAVELERS COMPANIES, INC. | $250,845 | 0.1% | -14% | 71.5 |
| 113 |  $MO | ALTRIA GROUP, INC. | $243,235 | 0.1% | NEW | 72.1 |
| 114 |  $WULF | TERAWULF INC. | $234,920 | 0.1% | +55% | 25.2 |
| 115 | — | VANGUARD MID-CAP INDEX FUND ETF SHARES | $232,288 | 0.1% | +0% | — |
| 116 |  $NMFC | New Mountain Finance Corp | $230,317 | 0.1% | +0% | — |
| 117 | — | GLOBAL X ARTIFICIAL INTELLIGENCE & TECHNOLOGY ETF | $226,256 | 0.1% | +0% | — |
| 118 |  $SERV | Serve Robotics Inc. /DE/ | $223,027 | 0.1% | +61% | 26 |
| 119 |  $HD | HOME DEPOT, INC. | $222,001 | 0.1% | NEW | 69.2 |
| 120 |  $MGM | MGM Resorts International | $213,919 | 0.1% | +1% | 48 |
| 121 |  $AMRZ | Amrize Ltd | $210,075 | 0.1% | +0% | — |
| 122 |  $MRK | Merck & Co., Inc. | $209,310 | 0.1% | NEW | 70.9 |
| 123 |  $WEC | WEC ENERGY GROUP, INC. | $209,081 | 0.1% | NEW | 67 |
| 124 |  $MA | Mastercard Inc | $205,471 | 0.1% | NEW | 81.7 |
| 125 | — | SCHWAB INTERNATIONAL EQUITY ETF | $202,733 | 0.1% | NEW | — |
| 126 |  $BKNG | Booking Holdings Inc. | $202,095 | 0.1% | +0% | 55.3 |
| 127 |  $ZGN | Ermenegildo Zegna N.V. | $190,426 | 0.1% | +0% | — |
| 128 |  $JFR | NUVEEN FLOATING RATE INCOME FUND | $175,983 | 0.1% | -22% | — |
| 129 |  $WVVI | WILLAMETTE VALLEY VINEYARDS INC | $140,836 | 0.0% | +0% | 24.4 |
| 130 |  $ACHV | ACHIEVE LIFE SCIENCES, INC. | $102,885 | 0.0% | +117% | — |
| 131 |  $ACVA | ACV Auctions Inc. | $70,833 | 0.0% | +0% | 51.5 |
| 132 |  $EDF | Virtus Stone Harbor Emerging Markets Income Fund | $47,800 | 0.0% | +0% | — |
| 133 |  $CRBU | Caribou Biosciences, Inc. | $38,000 | 0.0% | +0% | 6.1 |
| 134 | — | CYTODYN INC | $6,850 | 0.0% | -23% | — |
New Positions (15)
$CRM Salesforce, Inc.$2.1M$TPG TPG Inc.$1.1M$GLD SPDR GOLD TRUST$851,544$PM Philip Morris International Inc.$559,127$WT WisdomTree, Inc.$372,663$GLW CORNING INC /NY$271,940$OWL BLUE OWL CAPITAL INC.$264,825$MO ALTRIA GROUP, INC.$243,235$HD HOME DEPOT, INC.$222,001$MRK Merck & Co., Inc.$209,310$WEC WEC ENERGY GROUP, INC.$209,081$MA Mastercard Inc$205,471Exited Positions (16)
$TFX TELEFLEX INC
$CSGS CSG SYSTEMS INTERNATIONAL INC
$CCZ COMCAST CORP
$SLV iShares Silver Trust
$PLTR Palantir Technologies Inc.
$LII LENNOX INTERNATIONAL INC
$CBZ CBIZ, Inc.
$BDX BECTON DICKINSON & CO
$V VISA INC.
$ABBV AbbVie Inc.Browse Top Institutional Investors
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