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Hedge Funds Similar to Next

13F Portfolio OverlapQ2 2026Next portfolio →
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Most similar hedge funds by 13F overlap

Next Capital Management LLC is an institutional investor managing $370M across 138 U.S. equity positions as of Q2 2026. Based on the overlap of conviction holdings in their latest 13F filings, the hedge funds with portfolios most similar to Next are Lalia, Muzinich, Enstar Group LTD, with shared positions in $OBDC, $GBDC, $KKR, $BX, $APO, $MFIC. The full ranking of 25 similar funds is below.

#1Lalia Capital, LLCActive
Substantial overlap · 5 shared positions
$OBDC$GBDC$KKR$BX$APO
$206M
15 positions
#2Muzinich & Co., Inc.Active
Notable overlap · 4 shared positions
$OBDC$GBDC$MFIC$TCPC
$301M
23 positions
#3Enstar Group LTDActive
Notable overlap · 4 shared positions
$OBDC$KKR$BX$APO
$216M
9 positions
#4Partners Group Holding AGActive
Some overlap · 5 shared positions
$KKR$BX$APO$TPG$BN
$1.5B
52 positions
#5O'ROURKE & COMPANY, IncPassive
Some overlap · 4 shared positions
$KKR$BX$APO$SCHW
$287M
177 positions
#6Montaka Global Pty LtdActive
Some overlap · 4 shared positions
$KKR$BX$CRM$MDB
$178M
20 positions
#7Spinecap SASActive
Some overlap · 3 shared positions
$KKR$BX$APO
$335M
16 positions
#8Grange Capital, LLCActive
Some overlap · 3 shared positions
$KKR$BX$OBDC
$107M
49 positions
#9TT Capital Management LLCActive
Some overlap · 4 shared positions
$OBDC$OKE$BN$EPD
$137M
87 positions
#10COBALT CAPITAL MANAGEMENT, INC.Active
Some overlap · 3 shared positions
$OBDC$BX$APO
$140M
26 positions
#11EPIQ PARTNERS, LLCPassive
Some overlap · 4 shared positions
$OBDC$ECL$BN$EPD
$232M
99 positions
#12BECK MACK & OLIVER LLCActive
Some overlap · 6 shared positions
$BX$APO$SCHW$BN$QCOM$EPD
$5.1B
201 positions
#13ATX Financial Planning, LLCActive
Some overlap · 3 shared positions
$KKR$BX$APO
$156M
79 positions
#14INFRASTRUCTURE CAPITAL ADVISORS, LLCActive
Some overlap · 4 shared positions
$KKR$APO$OKE$EPD
$1.7B
185 positions
#15National Philanthropic TrustActive
Some overlap · 5 shared positions
$BX$APO$KKR$TPG$BN
$6.9B
409 positions
#16TORRAY LLCActive
Some overlap · 3 shared positions
$KKR$BX$OKE
$741M
91 positions
#17Maestria Partners LLCActive
Some overlap · 3 shared positions
$KKR$APO$BN
$298M
15 positions
#18CONDOR CAPITAL MANAGEMENTActive
Some overlap · 5 shared positions
$GBDC$MFIC$OBDC$SCHW$PH
$1.3B
173 positions
#19Tranquility Partners, LLCPassive
Some overlap · 3 shared positions
$GBDC$BX$OBDC
$288M
221 positions
#20Heron Bay Capital ManagementPassive
Some overlap · 3 shared positions
$KKR$CRM$SCHW
$1.1B
97 positions
#21ValueAct Holdings, L.P.Active
Some overlap · 3 shared positions
$KKR$CRM$MDB
$5.6B
18 positions
#22FIRST NATIONAL BANK SIOUX FALLSActive
Some overlap · 3 shared positions
$APO$BX$KKR
$328M
153 positions
#23Algebris (UK) LtdActive
Some overlap · 3 shared positions
$KKR$SCHW$TPG
$1.5B
73 positions
#24Sage Mountain Advisors LLCActive
Some overlap · 3 shared positions
$GBDC$QCOM$BX
$1.6B
304 positions
#25Granite FO LLCSmart money
Some overlap · 5 shared positions
$GBDC$OBDC$APO$KKR$QCOM
$186M
172 positions

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Similarity is derived from each fund’s latest 13F-HR filing with the SEC. Funds are ranked by the overlap of distinctive conviction holdings; near-universal mega-cap positions are excluded so the ranking reflects shared strategy, not common index exposure. Data is informational only and not investment advice.