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Next Capital Management LLC — 13F Holdings & Portfolio

CIK 1752762 · latest 13F-HR filed 2026-08-03

Backtest portfolio

Next Capital Management LLC manages $370.5M in 13F-reported U.S. long-equity assets across 138 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are IVV (14.65%), MFIC (5.17%), OBDC (4.99%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 15 new positions, exited 11, added to 85, and trimmed 20.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

Filer Information
Address
ELEVEN TIMES SQUARE
15TH FLOOR
NEW YORK, NY 10036
Phone
(212) 433-1111
Filing Manager
Next Capital Management LLC
NEW YORK, NY
Signatory
Catherine A. Sanford
Chief Operating Officer
Loading holdings…
AUM

$370.5M

Long-equity book

Holdings

138

Distinct positions

Period

2026-06-30

Filed 2026-08-03

Q/Q Activity

+15 / −11 / ↑85 / ↓20

vs 2026-03-31

Firm Profile & Key People
Name Title / Status Ownership Type

Top Adds (vs prior quarter)

  • ISHARES CORE S&P 500 ETF$8.2M +17.7%
  • INVESCO QQQ TR$3.2M +27.2%
  • ISHARES CORE MSCI EMERGING MARKETS ETF$3.0M +28.1%
  • BLUE OWL CAP CORP$2.7M +17.0%
  • ISHARES CORE MSCI EAFE ETF$2.5M +17.6%
Show all 85 →

Top Trims

  • MIDCAP FINL INVESTME-$1.9M -9.0%
  • AMAZON.COM INC-$1.6M -18.4%
  • GOLUB CAP BDC INC-$670.7K -9.3%
  • PHILIP MORRIS INTL INC-$343.7K -61.5%
  • SALESFORCE INC-$338.4K -16.0%
Show all 20 →

New Positions

  • BROADCOM INC$431.4K
  • FEDEX CORP$325.7K
  • STATE STREET SPDR S&P METALS & MINING ETF$318.1K
  • Blackstone Private$301.5K
  • Erasca Inc Com$280.3K
Show all 15 →

Exited Positions

  • JPMORGAN ULTRA-SHORT INCOME ETF$1.1M
  • HONEYWELL INTL INC$588.1K
  • Rayonier Advanced Ma$569.2K
  • ASTERA LABS INC$567.9K
  • CORNING INC$271.9K
Show all 11 →
All Holdings

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 ISHARES CORE S&P 500 ETF IVV 464287200 $54.3M 14.65% 72,466 SH
2 MIDCAP FINL INVESTME MFIC 03761U502 $19.1M 5.17% 1,899,667 SH
3 BLUE OWL CAP CORP OBDC 69121K104 $18.5M 4.99% 1,688,690 SH
4 ISHARES CORE MSCI EAFE ETF IEFA 46432F842 $17.0M 4.59% 176,061 SH
5 INVESCO QQQ TR QQQ 46090E103 $14.7M 3.98% 20,030 SH
6 ISHARES CORE MSCI EMERGING MARKETS ETF IEMG 46434G103 $13.5M 3.65% 163,430 SH
7 VANGUARD TOTAL STOCK MARKET INDEX FUND ETF SHARES VTI 922908769 $11.4M 3.09% 30,917 SH
8 BLACKROCK TCP CAP CORP TCPC 09259E108 $10.5M 2.84% 3,130,285 SH
9 ISHARES RUSSELL 1000 GROWTH ETF IWF 464287614 $10.5M 2.83% 84,480 SH
10 META PLATFORMS INC CLASS A META 30303M102 $9.7M 2.63% 17,281 SH
11 ISHARES S&P 500 GROWTH ETF IVW 464287309 $9.7M 2.61% 70,383 SH
12 ISHARES CORE S&P MID-CAPETF IJH 464287507 $7.8M 2.12% 101,771 SH
13 ISHARES CORE S&P SMALL-CAP ETF IJR 464287804 $7.8M 2.10% 52,491 SH
14 APPLE INC AAPL 037833100 $7.6M 2.06% 26,355 SH
15 AMAZON.COM INC AMZN 023135106 $7.2M 1.96% 30,407 SH
16 ISHARES RUSSELL 1000 VALUE ETF IWD 464287598 $6.8M 1.83% 27,975 SH
17 GOLUB CAP BDC INC GBDC 38173M102 $6.5M 1.76% 505,442 SH
18 VANGUARD S&P 500 ETF VOO 922908363 $5.9M 1.58% 8,537 SH
19 STATE STREET SPDR S&P 500 ETF TRUST SPY 78462F103 $5.0M 1.34% 6,632 SH
20 ISHARES RUSSELL 1000 ETF IWB 464287622 $4.9M 1.32% 11,954 SH
21 KKR & CO INC KKR 48251W104 $4.7M 1.27% 51,339 SH
22 NVIDIA CORP NVDA 67066G104 $4.5M 1.22% 22,614 SH
23 SCHWAB FUNDAMENTAL U.S. LARGE COMPANY ETF FNDX 808524771 $4.5M 1.21% 144,153 SH
24 BERKSHIRE HATHAWAY CLASS B BRK.B 084670702 $4.2M 1.13% 8,342 SH
25 SCHWAB U.S. SMALL-CAP ETF SCHA 808524607 $3.9M 1.05% 107,520 SH
26 INVESCO NASDAQ 100 ETF QQQM 46138G649 $3.8M 1.03% 12,533 SH
27 VANGUARD DIVIDEND APPRECIATION INDEX FUND ETF SHARES VIG 921908844 $3.5M 0.93% 14,624 SH
28 SCHWAB U.S. LARGE-CAP ETF SCHX 808524201 $3.3M 0.89% 112,073 SH
29 BLACKSTONE INC BX 09260D107 $3.0M 0.80% 25,197 SH
30 APOLLO GLOBAL MGMT INC NCLASS A APO 03769M106 $2.9M 0.78% 24,569 SH
31 STATE STREET HEALTH CARESELECT SECTOR SPDR ETF XLV 81369Y209 $2.9M 0.77% 17,990 SH
32 VANGUARD INFORMATION TECHNOLOGY INDEX FUND ETF SHARES VGT 92204A702 $2.7M 0.72% 22,184 SH
33 VANGUARD GROWTH INDEX FUND ETF SHARES VUG 922908736 $2.6M 0.71% 30,404 SH
34 ISHARES MSCI EMERGING MARKETS ETF EEM 464287234 $2.5M 0.67% 36,459 SH
35 MICROSOFT CORP MSFT 594918104 $2.3M 0.62% 6,140 SH
36 ELI LILLY AND CO LLY 532457108 $2.1M 0.57% 1,768 SH
37 ALPHABET INC CLASS C GOOG 02079K107 $2.1M 0.57% 5,995 SH
38 ISHARES CORE S&P U.S. VALUE ETF IUSV 464287663 $2.1M 0.57% 19,159 SH
39 STATE STREET TECHNOLOGY SELECT SECTOR SPDR ETF XLK 81369Y803 $2.0M 0.55% 10,700 SH
40 ALPHABET INC CLASS A GOOGL 02079K305 $2.0M 0.55% 5,656 SH
41 STATE STREET FINANCIAL SELECT SECTOR SPDR ETF XLF 81369Y605 $2.0M 0.54% 37,600 SH
42 VANGUARD LARGE-CAP INDEXFUND ETF SHARES VV 922908637 $1.8M 0.50% 5,376 SH
43 SCHWAB U.S. DIVIDEND EQUITY ETF SCHD 808524797 $1.8M 0.49% 56,932 SH
44 SALESFORCE INC CRM 79466L302 $1.8M 0.48% 11,350 SH
45 ISHARES RUSSELL MID-CAP GROWTH ETF IWP 464287481 $1.7M 0.46% 11,648 SH
46 VANGUARD MID-CAP GROWTH INDEX FUND ETF SHARES VOT 922908538 $1.5M 0.42% 5,020 SH
47 GOLDMAN SACHS GROUP INC GS 38141G104 $1.5M 0.41% 1,515 SH
48 CHARLES SCHWAB CORP SCHW 808513105 $1.5M 0.41% 16,323 SH
49 JOHNSON & JOHNSON JNJ 478160104 $1.4M 0.38% 5,530 SH
50 MONGODB INC CLASS A MDB 60937P106 $1.4M 0.37% 4,068 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-03 $370.5M 138 0001437749-26-025432
2026-03-31 2026-05-07 $330.2M 134 0001437749-26-015365
2025-12-31 2026-02-11 $312.3M 136 0001437749-26-003766