What does Next Capital Management LLC hold?

Next Capital Management LLC's largest disclosed positions on the most recent Form 13F-HR filing on SEC EDGAR include MFIC, OBDC. Full top-holdings list, quarter-over-quarter position changes, and sector allocation breakdown are available at https://13fpro.ai/research/fund/1752762.

What is Next Capital Management LLC's AUM?

Next Capital Management LLC reported approximately $370.5M in 13F-reportable AUM as of 2026-06-30. This figure reflects long US-listed positions disclosed on Form 13F-HR and excludes non-13F-reportable holdings (cash, short positions, certain derivatives, and non-US securities). Separately, the firm reported $2.1B in total regulatory AUM (RAUM) on its most recent Form ADV filing.

Where does 13F Pro source Next Capital Management LLC's holdings?

All Next Capital Management LLC holdings data comes directly from SEC EDGAR Form 13F-HR filings under CIK 1752762. Data refreshes automatically each quarter as new 13F filings are submitted (typically within 45 days of quarter-end). 13F Pro applies no third-party rewrites or estimates.

How often is Next Capital Management LLC's 13F data updated on 13F Pro?

Next Capital Management LLC's holdings update on 13F Pro within hours of each new Form 13F-HR filing on SEC EDGAR. Quarterly position changes, accumulation/distribution flags, and sector allocation are recalculated on each refresh.

Next Capital Management LLC

Institutional InvestorSimilar funds →SEC EDGAR: CIK 1752762

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Sector Allocation

Other76.7%$284.2M
Technology8.8%$32.7M
Financials7.4%$27.3M
Consumer Discretionary2.1%$7.7M
Healthcare1.4%$5.1M
Industrials1.2%$4.6M
Energy0.7%$2.6M
Consumer Staples0.5%$1.9M
Materials0.4%$1.4M
Real Estate0.3%$1.2M

AUM History

13fpro.ai/research/fund/next-capital-management-llc-1752762

Conviction and streaks

Stable · top 10 = 48.4%

From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.

$Conviction hold14.7% weight · held 10 quarters

$MFICConviction hold5.2% weight · held 8 quarters

$OBDCConviction hold5.0% weight · held 10 quarters

$Conviction hold4.6% weight · held 10 quarters

$QQQConviction hold4.0% weight · held 10 quarters

$Accumulating+36% shares · 9 quarters running

$Accumulating+110% shares · 9 quarters running

$Accumulating+158% shares · 9 quarters running

$Accumulating+128% shares · 9 quarters running

$Accumulating+3170% shares · 9 quarters running

$GOOGTrimming-12% shares · 4 quarters running

$AMZNTrimming-35% shares · 3 quarters running

$PPGTrimming-4% shares · 3 quarters running

$QQQTrimming-7% shares · 2 quarters running

$AAPLTrimming-7% shares · 2 quarters running

Largest positions — Q2 2026

ISHARES
$54.3M
MFIC
$19.1M
OBDC
$18.5M
ISHARES
$17.0M
QQQ
$14.7M
ISHARES
$13.5M
VANGUARD
$11.4M
TCPC
$10.5M
ISHARES
$10.5M
META
$9.7M
ISHARES
$9.7M
ISHARES
$7.8M
ISHARES
$7.8M
AAPL
$7.6M
AMZN
$7.2M
ISHARES
$6.8M
GBDC
$6.5M
VANGUARD
$5.9M
SPY
$5.0M
ISHARES
$4.9M

Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.

13fpro.ai/research/fund/next-capital-management-llc-1752762

Next Capital Management LLC 13F holdings — Q2 2026

$370.5M portfolio (+12.2% QoQ) · 138 holdings · Q2 2026 13F · top 10 are 48% of the stock portfolio

1
ISHARES CORE S&P 500 ETF - ETF
$54.3M
14.7% of stocks
+3%This quarter—Since filed—Held
AIQuality—Est. buy—
2
MidCap Financial Investment Corp
$MFIC
$19.1M
5.2% of stocks
+1%This quarter-14.0%Since filed8 qtrsHeld
AIQuality50.5#1,614Est. buyEstimated buy price is Pro: unlock with a free trialAdded 5 qtrs in a row
3
Blue Owl Capital Corp
$OBDC
$18.5M
5.0% of stocks
+19%This quarter-9.4%Since filed10+ qtrsHeld
AIQuality64.7#522Est. buyEstimated buy price is Pro: unlock with a free trialAdded 3 qtrs in a row
4
ISHARES CORE MSCI EAFE ETF - ETF
$17.0M
4.6% of stocks
+10%This quarter—Since filed—Held
AIQuality—Est. buy—
5
INVESCO QQQ TRUST, SERIES 1
$QQQ
$14.7M
4.0% of stocks
-0.3%This quarter+1.7%Since filed10+ qtrsHeld
AIQuality—Est. buyEstimated buy price is Pro: unlock with a free trial
6
ISHARES CORE MSCI EMERGING MARKETS ETF - ETF
$13.5M
3.6% of stocks
+8%This quarter—Since filed—Held
AIQuality—Est. buy—
7
VANGUARD TOTAL STOCK MARKET INDEX FUND ETF SHARES - ETF
$11.4M
3.1% of stocks
-0.8%This quarter—Since filed—Held
AIQuality—Est. buy—
8
BlackRock TCP Capital Corp.
$TCPC
$10.5M
2.8% of stocks
+3%This quarter+16.0%Since filed10+ qtrsHeld
AIQuality—Est. buyEstimated buy price is Pro: unlock with a free trialAdded 5 qtrs in a row
9
ISHARES RUSSELL 1000 GROWTH ETF - ETF
$10.5M
2.8% of stocks
+295%This quarter—Since filed—Held
AIQuality—Est. buy—
10
Meta Platforms, Inc.
$META
$9.7M
2.6% of stocks
+6%This quarter+6.8%Since filed10+ qtrsHeld
AIQuality78.0#57Est. buyEstimated buy price is Pro: unlock with a free trial

#	Company	Value	Weight	This quarter	Since filed	Held	AI quality	Est. buy
1	ISHARES CORE S&P 500 ETF - ETF	$54.3M	14.7%	+3%	—	—	—	—
2	MidCap Financial Investment Corp$MFIC	$19.1M	5.2%	+1%	-14.0%	8 qtrsAdded 5 qtrs in a row	50.5#1,614	Estimated buy price is Pro: unlock with a free trial
3	Blue Owl Capital Corp$OBDC	$18.5M	5.0%	+19%	-9.4%	10+ qtrsAdded 3 qtrs in a row	64.7#522	Estimated buy price is Pro: unlock with a free trial
4	ISHARES CORE MSCI EAFE ETF - ETF	$17.0M	4.6%	+10%	—	—	—	—
5	INVESCO QQQ TRUST, SERIES 1$QQQ	$14.7M	4.0%	-0.3%	+1.7%	10+ qtrs	—	Estimated buy price is Pro: unlock with a free trial
6	ISHARES CORE MSCI EMERGING MARKETS ETF - ETF	$13.5M	3.6%	+8%	—	—	—	—
7	VANGUARD TOTAL STOCK MARKET INDEX FUND ETF SHARES - ETF	$11.4M	3.1%	-0.8%	—	—	—	—
8	BlackRock TCP Capital Corp.$TCPC	$10.5M	2.8%	+3%	+16.0%	10+ qtrsAdded 5 qtrs in a row	—	Estimated buy price is Pro: unlock with a free trial
9	ISHARES RUSSELL 1000 GROWTH ETF - ETF	$10.5M	2.8%	+295%	—	—	—	—
10	Meta Platforms, Inc.$META	$9.7M	2.6%	+6%	+6.8%	10+ qtrs	78.0#57	Estimated buy price is Pro: unlock with a free trial

All holdings — Next Capital Management LLC (Q2 2026)

Sort

138 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.

#		Company						Held		Source
11	—	ISHARES S&P 500 GROWTH ETF - ETFetf/fund	—	$9.7M	2.6%	70K	+4%	—	—	13F
12	—	ISHARES CORE S&P MID-CAPETF - ETFetf/fund	—	$7.8M	2.1%	102K	+10%	—	—	13F
13	—	ISHARES CORE S&P SMALL-CAP ETF - ETFetf/fund	—	$7.8M	2.1%	52K	+6%	—	—	13F
14	$AAPL	Apple Inc.	Technology	$7.6M	2.1%	26K	-1%	10+ qtrsTrimmed 2 qtrs in a row	AI quality score is Pro: unlock with a free trial	13F
15	$AMZN	AMAZON COM INC	Consumer Discretionary	$7.2M	2.0%	30K	-29%	10+ qtrsTrimmed 3 qtrs in a row	AI quality score is Pro: unlock with a free trial	13F
16	—	ISHARES RUSSELL 1000 VALUE ETF - ETFetf/fund	—	$6.8M	1.8%	28K	-0.3%	—	—	13F
17	$GBDC	GOLUB CAPITAL BDC, Inc.	Other	$6.5M	1.8%	505K	-11%	10+ qtrs	AI quality score is Pro: unlock with a free trial	13F
18	—	VANGUARD S&P 500 ETF - ETFetf/fund	—	$5.9M	1.6%	8,537	+0.0%	—	—	13F
19	$SPY	SPDR S&P 500 ETF TRUSTetf/fund	—	$5.0M	1.3%	6,632	-2%	10+ qtrs	AI quality score is Pro: unlock with a free trial	13F
20	—	ISHARES RUSSELL 1000 ETF - ETFetf/fund	—	$4.9M	1.3%	12K	+0.0%	—	—	13F
21	$KKR	KKR & Co. Inc.	Financials	$4.7M	1.3%	51K	+7%	10+ qtrsAdded 2 qtrs in a row	AI quality score is Pro: unlock with a free trial	13F
22	$NVDA	NVIDIA CORP	Technology	$4.5M	1.2%	23K	+0.1%	10+ qtrs	AI quality score is Pro: unlock with a free trial	13F
23	—	SCHWAB FUNDAMENTAL U.S. LARGE COMPANY ETF - ETFetf/fund	—	$4.5M	1.2%	144K	+13%	—	—	13F
24	$BRK.B	BERKSHIRE HATHAWAY INC	Financials	$4.2M	1.1%	8,342	-0.1%	10+ qtrs	AI quality score is Pro: unlock with a free trial	13F
25	—	SCHWAB U.S. SMALL-CAP ETF - ETFetf/fund	—	$3.9M	1.1%	108K	-0.3%	—	—	13F
26	$IVZ	Invesco Ltd.	Financials	$3.8M	1.0%	13K	+12%
27	—	VANGUARD DIVIDEND APPRECIATION INDEX FUND ETF SHARES - ETF	—	$3.5M	0.9%	15K	+0.0%
28	—	SCHWAB U.S. LARGE-CAP ETF - ETF	—	$3.3M	0.9%	112K	-2%
29	$BX	Blackstone Inc.	Financials	$3.0M	0.8%	25K	+13%
30	$APO	Apollo Global Management, Inc.	Financials	$2.9M	0.8%	25K	+12%
31	—	STATE STREET HEALTH CARESELECT SECTOR SPDR ETF - ETF	—	$2.9M	0.8%	18K	-0.1%
32	—	VANGUARD INFORMATION TECHNOLOGY INDEX FUND ETF SHARES - ETF	—	$2.7M	0.7%	22K	+700%
33	—	VANGUARD GROWTH INDEX FUND ETF SHARES - ETF	—	$2.6M	0.7%	30K	+500%
34	—	ISHARES MSCI EMERGING MARKETS ETF - ETF	—	$2.5M	0.7%	36K	-0.5%
35	$MSFT	MICROSOFT CORP	Technology	$2.3M	0.6%	6,140	+9%
36	$LLY	ELI LILLY & Co	Healthcare	$2.1M	0.6%	1,768	—
37	$GOOG	Alphabet Inc.	Technology	$2.1M	0.6%	5,995	-6%
38	—	ISHARES CORE S&P U.S. VALUE ETF - ETF	—	$2.1M	0.6%	19K	-2%
39	—	STATE STREET TECHNOLOGY SELECT SECTOR SPDR ETF - ETF	—	$2.0M	0.6%	11K	+28%
40	$GOOGL	Alphabet Inc.	Technology	$2.0M	0.6%	5,656	-15%
41	—	STATE STREET FINANCIAL SELECT SECTOR SPDR ETF - ETF	—	$2.0M	0.5%	38K	+9%
42	—	VANGUARD LARGE-CAP INDEXFUND ETF SHARES - ETF	—	$1.8M	0.5%	5,376	—
43	—	SCHWAB U.S. DIVIDEND EQUITY ETF - ETF	—	$1.8M	0.5%	57K	+39%
44	$CRM	Salesforce, Inc.	Technology	$1.8M	0.5%	11K	—
45	—	ISHARES RUSSELL MID-CAP GROWTH ETF - ETF	—	$1.7M	0.5%	12K	+0.0%
46	—	VANGUARD MID-CAP GROWTH INDEX FUND ETF SHARES - ETF	—	$1.5M	0.4%	5,020	—
47	$GS	GOLDMAN SACHS GROUP INC	Financials	$1.5M	0.4%	1,515	-1%
48	$SCHW	SCHWAB CHARLES CORP	Financials	$1.5M	0.4%	16K	-4%
49	$JNJ	JOHNSON & JOHNSON	Healthcare	$1.4M	0.4%	5,530	—
50	$MDB	MongoDB, Inc.	Technology	$1.4M	0.4%	4,068	-7%
51	$KO	COCA COLA CO	Consumer Staples	$1.3M	0.4%	17K	—
52	—	VANGUARD HIGH DIVIDEND YIELD INDEX FUND ETF SHARES - ETF	—	$1.3M	0.4%	8,505	+4%
53	—	ISHARES RUSSELL 2000 ETF - ETF	—	$1.3M	0.4%	4,448	-2%
54	$TPG	TPG Inc.	Financials	$1.3M	0.3%	32K	+23%
55	—	ISHARES MSCI EAFE ETF - ETF	—	$1.2M	0.3%	12K	—
56	—	VANGUARD FTSE DEVELOPED MARKETS INDEX FUND ETF SHARES - ETF	—	$1.2M	0.3%	17K	+4%
57	—	KRANESHARES CSI CHINA INTERNET ETF - ETF	—	$1.2M	0.3%	49K	—
58	$JPM	JPMORGAN CHASE & CO	Financials	$1.1M	0.3%	3,380	+3%
59	$PH	Parker-Hannifin Corp	Industrials	$1.0M	0.3%	1,035	—
60	—	SCHWAB U.S. BROAD MARKETETF - ETF	—	$1.0M	0.3%	35K	+4%
61	—	ISHARES EXPANDED TECH-SOFTWARE SECTOR ETF - ETF	—	$937K	0.3%	10K	+8%
62	—	FIRST TRUST NORTH AMERICAN ENERGY INFRASTRUCTURE FUND - ETF	—	$899K	0.2%	21K	+5%
63	$ECL	ECOLAB INC.	Materials	$815K	0.2%	2,925	—
64	—	VANGUARD VALUE INDEX FUND ETF SHARES - ETF	—	$793K	0.2%	3,637	+5%
65	$XOM.R34088	EXXON MOBIL CORP	Energy	$784K	0.2%	5,735	—
66	—	ISHARES MSCI ACWI EX U.S. ETF - ETF	—	$758K	0.2%	9,959	—
67	$IVZ	Invesco Ltd.	Financials	$756K	0.2%	8,390	-12%
68	$AEP	AMERICAN ELECTRIC POWER CO INC	Utilities	$752K	0.2%	5,497	-3%
69	—	ISHARES S&P SMALL-CAP 600 VALUE ETF - ETF	—	$751K	0.2%	5,496	—
70	$GLD	SPDR GOLD TRUST	Financials	$729K	0.2%	1,979	—
71	$OKE	ONEOK INC /NEW/	Energy	$685K	0.2%	7,880	—
72	$BN	BROOKFIELD Corp /ON/	Real Estate	$671K	0.2%	16K	—
73	—	VANGUARD FTSE EMERGING MARKETS INDEX FUND ETF SHARES - ETF	—	$652K	0.2%	11K	+2%
74	—	VANECK GOLD MINERS ETF - ETF	—	$643K	0.2%	8,522	—
75	—	ISHARES MICRO-CAP ETF - ETF	—	$625K	0.2%	3,123	—
76	$PPG	PPG INDUSTRIES INC	Materials	$605K	0.2%	4,990	-0.9%
77	$GEV	GE Vernova Inc.	Industrials	$594K	0.2%	506	—
78	$QCOM	QUALCOMM INC/DE	Technology	$594K	0.2%	3,216	-2%
79	$BRW	Saba Capital Income & Opportunities Fund	Other	$584K	0.2%	89K	—
80	$ILMN	ILLUMINA, INC.	Healthcare	$573K	0.1%	3,256	-9%
81	—	ISHARES RUSSELL MID-CAP VALUE ETF - ETF	—	$564K	0.1%	3,427	-8%
82	—	ARK GENOMIC REVOLUTION ETF - ETF	—	$549K	0.1%	13K	—
83	$EPD	ENTERPRISE PRODUCTS PARTNERS L.P.	Energy	$527K	0.1%	14K	—
84	$TRS	TRIMAS CORP	Industrials	$518K	0.1%	12K	—
85	—	iShares Core MSCI Totl Intl STCK ETF - ETF	—	$474K	0.1%	4,962	—
86	$CAT	CATERPILLAR INC	Industrials	$463K	0.1%	435	-19%
87	$AVGO	Broadcom Inc.	Technology	$431K	0.1%	1,142	New
88	$OPP	RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.	Other	$425K	0.1%	55K	—
89	—	ISHARES RUSSELL 2000 VALUE ETF - ETF	—	$420K	0.1%	1,898	—
90	$TYG	TORTOISE ENERGY INFRASTRUCTURE CORP	Other	$419K	0.1%	9,770	—
91	$WT	WisdomTree, Inc.	Financials	$408K	0.1%	2,350	—
92	$WULF	TERAWULF INC.	Financials	$402K	0.1%	16K	—
93	$SPOT	Spotify Technology S.A.	Communication Services	$395K	0.1%	860	-5%
94	$NFLX	NETFLIX INC	Communication Services	$386K	0.1%	5,410	-9%
95	$DOV	DOVER Corp	Industrials	$379K	0.1%	2,415	-5%
96	—	SCHWAB U.S. MID-CAP ETF - ETF	—	$375K	0.1%	10K	+0.1%
97	$IVZ	Invesco Ltd.	Financials	$359K	0.1%	1,686	+0.2%
98	—	XTRACKERS MSCI EAFE HEDGED EQUITY ETF - ETF	—	$346K	0.1%	6,331	—
99	$WMB	WILLIAMS COMPANIES, INC.	Energy	$345K	0.1%	4,645	—
100	$SLRC	SLR Investment Corp.	Other	$340K	0.1%	28K	—
101	$COF	CAPITAL ONE FINANCIAL CORP	Financials	$335K	0.1%	1,668	—
102	$FDX	FEDEX CORP	Industrials	$326K	0.1%	1,040	New
103	—	STATE STREET SPDR S&P METALS & MINING ETF - ETF	—	$318K	0.1%	2,975	New
104	—	GLOBAL X ARTIFICIAL INTELLIGENCE & TECHNOLOGY ETF - ETF	—	$318K	0.1%	4,848	—
105	—	STATE STREET SPDR S&P BIOTECH ETF - ETF	—	$317K	0.1%	2,000	—
106	—	ISHARES U.S. ENERGY ETF - ETF	—	$311K	0.1%	5,500	—
107	—	Blackstone Private - COM	—	$302K	0.1%	13K	New
108	$PSX	Phillips 66	Energy	$294K	0.1%	1,738	—
109	$MAYS	MAYS J W INC	Real Estate	$286K	0.1%	7,326	—
110	$TRV	TRAVELERS COMPANIES, INC.	Financials	$284K	0.1%	860	—
111	$ERAS	Erasca, Inc.	Healthcare	$280K	0.1%	15K	New
112	—	Ab Active Etfs Inc (international Low Volatility Equity Etf) - ETF	—	$273K	0.1%	6,013	—
113	$HON	HONEYWELL INTERNATIONAL INC	Industrials	$273K	0.1%	1,220	-53%
114	$HONA	Honeywell Aerospace Inc.	Industrials	$270K	0.1%	1,220	New
115	—	ISHARES CORE S&P TOTAL U.S. STOCK MARKET ETF - ETF	—	$269K	0.1%	1,637	New
116	$NMFC	New Mountain Finance Corp	Other	$268K	0.1%	37K	+26%
117	—	VANECK SEMICONDUCTOR ETF - ETF	—	$264K	0.1%	403	New
118	—	VANGUARD MID-CAP INDEX FUND ETF SHARES - ETF	—	$261K	0.1%	3,238	+300%
119	$WY	WEYERHAEUSER CO	Real Estate	$239K	0.1%	10K	New
120	$ZGN	Ermenegildo Zegna N.V.	Consumer Discretionary	$238K	0.1%	18K	—
121	—	SCHWAB INTERNATIONAL EQUITY ETF - ETF	—	$236K	0.1%	8,535	+4%
122	$DAL	DELTA AIR LINES, INC.	Industrials	$234K	0.1%	2,500	New
123	$ACHV	ACHIEVE LIFE SCIENCES, INC.	Healthcare	$229K	0.1%	35K	—
124	$PANW	Palo Alto Networks Inc	Technology	$225K	0.1%	660	New
125	—	VANGUARD SMALL-CAP INDEXFUND ETF SHARES - ETF	—	$224K	0.1%	738	New
126	$MO	ALTRIA GROUP, INC.	Consumer Staples	$216K	0.1%	3,000	-19%
127	$UNH	UNITEDHEALTH GROUP INC	Healthcare	$216K	0.1%	519	New
128	$PM	Philip Morris International Inc.	Consumer Staples	$215K	0.1%	1,191	-65%
129	$BKNG	Booking Holdings Inc.	Consumer Discretionary	$214K	0.1%	1,200	+2400%
130	$AEVA	Aeva Technologies, Inc.	Industrials	$211K	0.1%	7,355	New
131	$WEC	WEC ENERGY GROUP, INC.	Utilities	$211K	0.1%	1,806	—
132	$MRK	Merck & Co., Inc.	Healthcare	$204K	0.1%	1,591	-9%
133	$JFR	NUVEEN FLOATING RATE INCOME FUND	Other	$179K	0.1%	23K	—
134	$SERV	Serve Robotics Inc. /DE/	Industrials	$174K	0.1%	26K	—
135	$WVVI	WILLAMETTE VALLEY VINEYARDS INC	Consumer Staples	$138K	0.0%	55K	—
136	$ACVA	ACV Auctions Inc.	Industrials	$108K	0.0%	15K	-10%
137	$CRBU	Caribou Biosciences, Inc.	Healthcare	$35K	0.0%	20K	—
138	—	CYTODYN INC - COM	—	$6K	0.0%	25K	—

What changed in Q2 2026

Against the previous quarter's 13F: 14 new, 42 added to, 34 trimmed, 10 sold out. Share-count changes; largest moves by dollar size first.

New positions (14)

$AVGOBroadcom Inc.$431K
first bought this quarter
$FDXFEDEX CORP$326K
first bought this quarter
STATE STREET SPDR S&P METALS & MINING ETF - ETF$318K
first bought this quarter
Blackstone Private - COM$302K
first bought this quarter
$ERASErasca, Inc.$280K
first bought this quarter
$HONAHoneywell Aerospace Inc.$270K
first bought this quarter

+8 more in the Excel export

Added to (42)

ISHARES RUSSELL 1000 GROWTH ETF - ETF+295%
now $10.5M
$OBDCBlue Owl Capital Corp+19%
now $18.5M · held 10+ qtrs, 3 adds in a row
VANGUARD INFORMATION TECHNOLOGY INDEX FUND ETF SHARES - ETF+700%
now $2.7M
VANGUARD GROWTH INDEX FUND ETF SHARES - ETF+500%
now $2.6M
ISHARES CORE MSCI EAFE ETF - ETF+10%
now $17.0M
ISHARES CORE S&P 500 ETF - ETF+3%
now $54.3M

+36 more in the Excel export

Trimmed (34)

$AMZNAMAZON COM INC-29%
now $7.2M · held 10+ qtrs, 3 trims in a row
$GBDCGOLUB CAPITAL BDC, Inc.-11%
now $6.5M · held 10+ qtrs
$PMPhilip Morris International Inc.-65%
now $215K · held 2 qtrs
$GOOGLAlphabet Inc.-15%
now $2.0M · held 10+ qtrs
$HONHONEYWELL INTERNATIONAL INC-53%
now $273K · held 10+ qtrs
$GOOGAlphabet Inc.-6%
now $2.1M · held 10+ qtrs

+28 more in the Excel export

Sold out (10)

JPMORGAN ULTRA-SHORT INCOME ETFwas $1.1M
$RYAMRAYONIER ADVANCED MATERIALS INC.was $569K
held 3 qtrs
$ALABAstera Labs, Inc.was $568K
held 4 qtrs
$GLWCORNING INC /NYwas $272K
held 1 qtr
$OWLBLUE OWL CAPITAL INC.was $265K
$HDHOME DEPOT, INC.was $222K

+4 more in the Excel export

Firm AUM (Form ADV): $2.1B as of 2025-12-31 · SEC IAPD

Holdings by quarter

Every 13F Next Capital Management LLC has filed, 30 earlier quarters. Pick one to see what it held then.

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Q2 2026 13F filed with the SEC on Aug 3, 2026. Prices are closing prices as of Oct 26, 2026.

Average quality of Next Capital Management's top 20 holdings: 67/100 (our AI quality score, weighted by position size; 16 of the 20 are scored)

Top 10 since filing

-2.4%

Value-weighted move of the 10 largest stock positions

Turnover

Last quarter; 16% over the last 4

Top 10 weight

48%

Share of the stock portfolio in its 10 largest positions

Held 4+ quarters

95%

Share of portfolio value in positions held a year or more

Highest-quality names it owns(among its 100 largest positions)

The 8 highest-scoring companies in this portfolio are a Pro feature.

How these are measured

Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.

Portfolio Overview

Next Capital Management LLC disclosed 138 positions worth $370.5M in its Form 13F-HR for Q2 2026, followed by $MFIC and $OBDC. During the quarter the fund opened 14 new positions and exited 10 — including a new stake in $AVGO. The portfolio is most concentrated in Other (76.7% of disclosed assets). All figures are sourced directly from Next Capital Management LLC’s Form 13F-HR filing with the SEC under CIK 1752762.

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AI-Powered Hedge Fund Analysis: Next Capital Management LLC

13F Pro is an AI hedge fund tracker and stock research platform. For Next Capital Management LLC (SEC CIK: 1752762), the platform ingests every quarterly Form 13F filing and applies AI-powered analysis on top — 10 specialized AI analysts (value, growth, momentum, macro, activist, and more) debate the fund's top positions and publish AI-generated analysis with cited SEC sources.

Every holding in Next Capital Management LLC's portfolio is scored on an AI quality ranking built from its SEC filings (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.