Next Capital Management LLC

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 14, 2024), Next Capital Management LLC reported 144 stock positions worth $246.0 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 11.4% of the portfolio, followed by Blue Owl Capital (OBDC, 7.8%) and Invesco QQQ Trust Series 1 (QQQ, 4.3%). Compared with Q4 2023, it opened 26 new positions, sold out of 6, added to 57 and reduced 25. The biggest buy was iShares Core S&P 500 ETF (IVV, shares +7%) and the biggest sale Blue Owl Capital (OBDC, shares −26%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001752762
Portfolio Value
$246.0M (Q1 2024)
SEC Filing
0001437749-24-016529 ↗ filed May 14, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $246.0M $246.0M Q1 2024 Q2 2024: $237.1M Q2 2024 Q3 2024: $245.1M Q3 2024 Q4 2024: $243.3M Q4 2024 Q1 2025: $208.5M Q1 2025 Q2 2025: $270.6M Q2 2025 Q3 2025: $299.6M Q3 2025 Q4 2025: $312.3M Q4 2025 Q1 2026: $330.2M Q1 2026 Q2 2026: $370.5M Q2 2026

Holdings 144 stocks · $246.0M
IVV iShares Core S&P 500 ETF 11.37% 53,206 $28.0M Add +6.6%
OBDC Blue Owl Capital Corp. 7.85% 1,254,239 $19.3M Reduce -25.9%
QQQ Invesco QQQ Trust Series 1 4.26% 23,597 $10.5M Reduce -3.3%
META Meta Platforms Inc. Class A 3.80% 19,246 $9.3M Add +7.8%
AMZN Amazon.com Inc. 3.74% 51,012 $9.2M Reduce -42.2%
AAPL Apple Inc. 3.10% 44,461 $7.6M Add +25.2%
XLV SS Health Care Select Sector 2.89% 48,079 $7.1M Reduce -1.5%
VOO Vanguard S&P 500 ETF 2.66% 13,600 $6.5M Reduce -6.9%
IEFA iShares Core MSCI Eafe ETF 2.54% 84,055 $6.2M Add +3.3%
IWF iShares Russell 1000 Growth 2.32% 16,955 $5.7M Add +0.3%
AFT Apollo Senior Floating Rate 2.05% 353,855 $5.0M Reduce -3.3%
JFR Nuveen Floating Rate Income 2.04% 574,509 $5.0M Reduce -3.1%
VTI VG Morningstar TS MKT ETF-US 1.99% 18,842 $4.9M Add +0.2%
SCHW Schwab (charles) Corp. 1.91% 65,048 $4.7M Add +1.8%
GBDC Golub Capital BDC Inc. 1.79% 264,533 $4.4M Reduce -57.3%
BGX Blackstone Long-Short Credit 1.63% 325,157 $4.0M Add +9.8%
IVW iShares S&P 500 Growth ETF 1.59% 46,295 $3.9M Add +1.4%
IWB iShares Russell 1000 ETF 1.54% 13,135 $3.8M Add +77.1%
BRK.B Berkshire Hathaway Inc. Class B 1.42% 8,327 $3.5M Add +3.0%
IJR iShares Core S&P Small-Cap E 1.35% 30,138 $3.3M Add +5.3%
IWD iShares Russell 1000 Value E 1.35% 18,583 $3.3M Add +1.1%
IEMG iShares Core MSCI Emerging 1.33% 63,333 $3.3M Reduce -3.1%
SCHX Schwab US Large-Cap ETF 1.27% 50,438 $3.1M Reduce -2.5%
JPM JPMorgan Chase & Co. 1.26% 15,510 $3.1M Add +2.6%
BGB Blackstone Strategic Credit 1.14% 235,634 $2.8M Reduce -0.3%
IJH iShares Core S&P Midcap ETF 1.10% 44,633 $2.7M Add +1.7%
SCHA Schwab US Small-Cap ETF 1.05% 52,696 $2.6M Reduce -0.2%
TFX Teleflex Inc. 0.89% 9,729 $2.2M Add +0.0%
MSFT Microsoft Corp. 0.79% 4,614 $1.9M Add +50.2%
SPY SS SPDR S&P 500 ETF Trust-US 0.77% 3,620 $1.9M Add +40.7%
KKR KKR & Co. Inc. 0.72% 17,657 $1.8M Add +1.0%
VOT Vngrd Mrngstr MC GRW ETF-Usd 0.72% 7,530 $1.8M No change
TSLA Tesla Inc. 0.69% 9,710 $1.7M Add +3.0%
VYM Vanguard High DVD Yield ETF 0.66% 13,453 $1.6M Add +0.2%
JPST JPMorgan Ultra-Short Income 0.63% 30,679 $1.5M Reduce -5.1%
XLF SS Financial Select Sector 0.57% 33,376 $1.4M Reduce -33.0%
WMT Walmart Inc. 0.56% 22,770 $1.4M Add +5.4%
KWEB Kranesh Csi China Internet 0.52% 49,020 $1.3M New
SHYG iShares 0-5 YR HY Corp. Bond 0.52% 29,859 $1.3M Reduce -9.0%
BRK.A 1/100 Berkshire HTWY A Class A 0.52% 200 $1.3M No change
EEM iShares MSCI Emerging Market 0.51% 30,411 $1.2M No change
MCD McDonald's Corp. 0.50% 4,385 $1.2M Add +6.6%
VNQ Vanguard Real Estate ETF 0.50% 14,224 $1.2M No change
BRW Saba Capital Income & Opport 0.49% 165,665 $1.2M Add +8.5%
GOOG Alphabet Inc. Class C 0.49% 7,842 $1.2M Add +81.4%
ECL Ecolab Inc. 0.47% 5,020 $1.2M Add +184.9%
KO The Coca-Cola Co. 0.45% 18,097 $1.1M Add +2.6%
APO Apollo Global Management Inc. 0.45% 9,824 $1.1M No change
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.43% 4,429 $1.1M No change
VGT Vanguard Info Tech ETF 0.42% 1,989 $1.0M No change
IUSV iShares Core S&P U.S. Value 0.41% 11,171 $1.0M Add +14.6%
NVDA Nvidia Corp. 0.40% 1,087 $982K New
IWM iShares Russell 2000 ETF 0.37% 4,386 $922K Reduce -21.4%
LLY Eli Lilly & Co. 0.37% 1,169 $909K New
NFLX Netflix Inc. 0.35% 1,438 $873K Add +29.3%
GOOGL Alphabet Inc. Class A 0.35% 5,779 $872K Add +26.0%
CBZ Cbiz Inc. 0.35% 11,000 $864K No change
EMLP First Trust North American E 0.34% 28,673 $847K Reduce -7.4%
HD Home Depot Inc. 0.34% 2,207 $847K Add +15.6%
XLK SS Technology Select Sector 0.33% 3,869 $806K No change
IWP iShares Russell Mid-Cap Grow 0.32% 6,810 $777K No change
BX Blackstone Inc. 0.31% 5,892 $774K Add +2.6%
PPG PPG Industries Inc. 0.31% 5,220 $756K Add +0.3%
EFA iShares MSCI Eafe ETF 0.30% 9,366 $748K No change
TCPC BlackRock TCP Capital Corp. 0.30% 70,612 $736K No change
NRK Nuveen NY Amt-FR Muni Inc. 0.29% 66,704 $725K No change
PM Philip Morris International 0.27% 7,236 $663K Reduce -1.4%
OKE Oneok Inc. 0.26% 8,082 $648K Add +1.0%
VEA Vanguard Ftse Developed ETF 0.25% 12,192 $612K Add +28.6%
VUG Vanguard Mrngstar GR ETF-Sui 0.25% 1,772 $610K Reduce -3.0%
CMCSA Comcast Corp. Class A 0.25% 14,013 $607K Add +1.3%
PH Parker Hannifin Corp. 0.24% 1,054 $586K Add +0.9%
AEP American Electric Power 0.23% 6,711 $578K Add +59.0%
MRK Merck & Co. Inc. 0.23% 4,358 $575K Add +21.5%
DIVB iShares Core Dividend ETF 0.23% 12,487 $556K No change
QCOM Qualcomm Inc. 0.22% 3,258 $552K Add +3.7%
OPP Rivernrth/Doublelne STR Opp 0.22% 63,896 $551K No change
VIG Vanguard Dividend Apprec ETF 0.22% 2,942 $537K No change
JNJ Johnson & Johnson 0.22% 3,358 $531K Add +64.5%
VWO Vanguard Ftse Emerging Marke 0.20% 11,768 $492K No change
GS Goldman Sachs Group Inc. 0.20% 1,162 $485K Add +93.7%
V Visa Inc. Class A 0.19% 1,666 $465K Add +65.3%
CSGS CSG Systems Intl Inc. 0.19% 9,000 $464K Reduce -50.9%
BOND PIMCO Active Bond Exchange-T 0.19% 4,987 $458K No change
NEAR iShares SH Dba ETF Usd Inc. 0.18% 8,975 $453K No change
PFE Pfizer Inc. 0.18% 16,020 $445K New
BN Brookfield Corp. 0.18% 10,500 $440K No change
SMH Vaneck Semiconductor ETF 0.18% 1,954 $440K New
NAN Nuveen NY QLTY Muni Inc. 0.18% 39,784 $436K No change
ABBV Abbvie Inc. 0.18% 2,371 $432K Add +19.1%
PG The Procter & Gamble Co. 0.17% 2,615 $424K Add +53.2%
SLRC SLR Investment Corp. 0.17% 27,520 $422K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.17% 2,511 $409K Add +2.0%
SCHD Schwab US DVD Equity ETF 0.17% 5,059 $408K Reduce -0.8%
NOC Northrop Grumman Corp. 0.16% 834 $399K Add +1.0%
CRM Salesforce Inc. 0.16% 1,292 $389K New
IWC iShares Micro-Cap ETF 0.15% 3,123 $378K No change
GDX Vaneck Gold Miners ETF 0.15% 11,752 $372K No change
ADP Automatic Data Processing 0.14% 1,370 $342K New
ADBE Adobe Inc. 0.13% 657 $332K New

Show all 144 holdings

Options reported separately and not counted above: TESLA INC puts ($1.6M).

Portfolio Sells Q4 2023 → Q1 2024
OBDC Blue Owl Capital Corp. Reduce -25.9% 7.85% −2.91
GBDC Golub Capital BDC Inc. Reduce -57.3% 1.79% −2.23
AMZN Amazon.com Inc. Reduce -42.2% 3.74% −2.03
BRT BRT Apartments Corp. Sold out 0.00% −0.40
OLP One Liberty Properties Inc. Sold out 0.00% −0.29
GBTC Grayscale Bitcoin Trust ETF Sold out 0.00% −0.29
EFT Eaton Vance Fltng RT Inc. TR Sold out 0.00% −0.26
XLF SS Financial Select Sector Reduce -33.0% 0.57% −0.23
CSGS CSG Systems Intl Inc. Reduce -50.9% 0.19% −0.23
ETHE Grayscale Ethereum Staking E Sold out 0.00% −0.12
IWM iShares Russell 2000 ETF Reduce -21.4% 0.37% −0.11
ARKG ARK Genomic Revolution ETF Sold out 0.00% −0.09
IEMG iShares Core MSCI Emerging Reduce -3.1% 1.33% −0.09
VOO Vanguard S&P 500 ETF Reduce -6.9% 2.66% −0.09
SHYG iShares 0-5 YR HY Corp. Bond Reduce -9.0% 0.52% −0.08
JPST JPMorgan Ultra-Short Income Reduce -5.1% 0.63% −0.07
JFR Nuveen Floating Rate Income Reduce -3.1% 2.04% −0.06
QQQ Invesco QQQ Trust Series 1 Reduce -3.3% 4.26% −0.04
AFT Apollo Senior Floating Rate Reduce -3.3% 2.05% −0.03
PM Philip Morris International Reduce -1.4% 0.27% −0.03
EMLP First Trust North American E Reduce -7.4% 0.34% −0.02
SCHA Schwab US Small-Cap ETF Reduce -0.2% 1.05% −0.02
PINS Pinterest Inc. Class A Reduce -0.8% 0.12% −0.02
BGB Blackstone Strategic Credit Reduce -0.3% 1.14% −0.01
BSL Blackstone SNR Fltng RT Reduce -15.3% 0.06% −0.01
QQQM Invesco Nasdaq 100 ETF Reduce -8.8% 0.12% −0.01
SCHD Schwab US DVD Equity ETF Reduce -0.8% 0.17% −0.00
TYG Tortoise Energy Infrastruct Reduce -0.1% 0.12% +0.00
VUG Vanguard Mrngstar GR ETF-Sui Reduce -3.0% 0.25% +0.00
SCHX Schwab US Large-Cap ETF Reduce -2.5% 1.27% +0.02
XLV SS Health Care Select Sector Reduce -1.5% 2.89% +0.02

Portfolio Buys Q4 2023 → Q1 2024
IVV iShares Core S&P 500 ETF Add +6.6% 11.37% +1.12
META Meta Platforms Inc. Class A Add +7.8% 3.80% +1.08
IWB iShares Russell 1000 ETF Add +77.1% 1.54% +0.70
KWEB Kranesh Csi China Internet New 0.52% +0.52
NVDA Nvidia Corp. New 0.40% +0.40
LLY Eli Lilly & Co. New 0.37% +0.37
ECL Ecolab Inc. Add +184.9% 0.47% +0.32
MSFT Microsoft Corp. Add +50.2% 0.79% +0.29
SPY SS SPDR S&P 500 ETF Trust-US Add +40.7% 0.77% +0.24
GOOG Alphabet Inc. Class C Add +81.4% 0.49% +0.22
BRK.B Berkshire Hathaway Inc. Class B Add +3.0% 1.42% +0.18
PFE Pfizer Inc. New 0.18% +0.18
SMH Vaneck Semiconductor ETF New 0.18% +0.18
BGX Blackstone Long-Short Credit Add +9.8% 1.63% +0.17
AAPL Apple Inc. Add +25.2% 3.10% +0.16
CRM Salesforce Inc. New 0.16% +0.16
JPM JPMorgan Chase & Co. Add +2.6% 1.26% +0.16
ADP Automatic Data Processing New 0.14% +0.14
ADBE Adobe Inc. New 0.13% +0.13
PAYC Paycom Software Inc. New 0.13% +0.13
LII Lennox International Inc. New 0.13% +0.13
NFLX Netflix Inc. Add +29.3% 0.35% +0.12
ROP Roper Technologies Inc. New 0.12% +0.12
IWF iShares Russell 1000 Growth Add +0.3% 2.32% +0.12
IVW iShares S&P 500 Growth ETF Add +1.4% 1.59% +0.11
COIN Coinbase Global Inc. Class A New 0.11% +0.11
COST Costco Wholesale Corp. New 0.11% +0.11
CVX Chevron Corp. New 0.10% +0.10
ABT Abbott Laboratories New 0.10% +0.10
ITW Illinois Tool Works New 0.10% +0.10
FNF Fidelity National Financial New 0.10% +0.10
KKR KKR & Co. Inc. Add +1.0% 0.72% +0.10
GS Goldman Sachs Group Inc. Add +93.7% 0.20% +0.10
TRV The Travelers Cos Inc. New 0.10% +0.10
MCHP Microchip Technology Inc. New 0.09% +0.09
SPOT Spotify Technology SA New 0.09% +0.09
MJ Amplify ETF TR New 0.09% +0.09
MANH Manhattan Associates Inc. New 0.09% +0.09
AEP American Electric Power Add +59.0% 0.23% +0.09
PLD Prologis Inc. New 0.09% +0.09
BE Bloom Energy Corp. Class A New 0.09% +0.09
DHR Danaher Corp. New 0.08% +0.08
MO Altria Group Inc. New 0.08% +0.08
GOOGL Alphabet Inc. Class A Add +26.0% 0.35% +0.08
JNJ Johnson & Johnson Add +64.5% 0.22% +0.08
V Visa Inc. Class A Add +65.3% 0.19% +0.08
IEFA iShares Core MSCI Eafe ETF Add +3.3% 2.54% +0.07
VTI VG Morningstar TS MKT ETF-US Add +0.2% 1.99% +0.07
WMT Walmart Inc. Add +5.4% 0.56% +0.07
MRK Merck & Co. Inc. Add +21.5% 0.23% +0.07

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 138$370.5MIVV, MFIC, OBDC, IEFA, QQQ
Q1 2026 134$330.2MIVV, MFIC, OBDC, IEFA, QQQ
Q4 2025 136$312.3MIVV, MFIC, TCPC, QQQ, IEFA
Q3 2025 139$299.6MIVV, MFIC, TCPC, QQQ, META
Q2 2025 137$270.6MIVV, META, QQQ, IEFA, AMZN
Q1 2025 118$208.5MIVV, QQQ, META, AAPL, IEFA
Q4 2024 140$243.3MIVV, QQQ, AAPL, META, AMZN
Q3 2024 136$245.1MIVV, GBDC, QQQ, META, AAPL
Q2 2024 135$237.1MIVV, GBDC, QQQ, IWF, AMZN
Q1 2024 144$246.0MIVV, OBDC, QQQ, META, AMZN