Next Capital Management LLC
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 20, 2024), Next Capital Management LLC reported 135 stock positions worth $237.1 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 12.6% of the portfolio, followed by Golub Capital BDC (GBDC, 5.1%) and Invesco QQQ Trust Series 1 (QQQ, 4.8%). Compared with Q1 2024, it opened 7 new positions, sold out of 16, added to 40 and reduced 48. The biggest buy was Golub Capital BDC (GBDC, shares +192%) and the biggest sale Blue Owl Capital (OBDC, shares −97%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001752762
- Portfolio Value
- $237.1M (Q2 2024)
- SEC Filing
- 0001437749-24-027302 ↗ filed Aug 20, 2024
Holdings Value
Holdings 135 stocks · $237.1M
| IVV iShares Core S&P 500 ETF | 12.63% | 54,725 | $29.9M | Add +2.9% |
| GBDC Golub Capital BDC Inc. | 5.11% | 771,910 | $12.1M | Add +191.8% |
| QQQ Invesco QQQ Trust Series 1 | 4.80% | 23,757 | $11.4M | Add +0.7% |
| IWF iShares Russell 1000 Growth | 4.27% | 30,177 | $10.1M | Add +78.0% |
| AMZN Amazon.com Inc. | 4.15% | 50,874 | $9.8M | Reduce -0.3% |
| META Meta Platforms Inc. Class A | 4.07% | 19,135 | $9.6M | Reduce -0.6% |
| AAPL Apple Inc. | 3.99% | 44,886 | $9.5M | Add +1.0% |
| XLV SS Health Care Select Sector | 2.90% | 47,130 | $6.9M | Reduce -2.0% |
| IEFA iShares Core MSCI Eafe ETF | 2.71% | 88,455 | $6.4M | Add +5.2% |
| VTI VG Morningstar TS MKT ETF-US | 2.13% | 18,842 | $5.0M | No change |
| SCHW Schwab (charles) Corp. | 2.06% | 66,160 | $4.9M | Add +1.7% |
| JFR Nuveen Floating Rate Income | 1.99% | 544,590 | $4.7M | Reduce -5.2% |
| IVW iShares S&P 500 Growth ETF | 1.81% | 46,295 | $4.3M | No change |
| VOO Vanguard S&P 500 ETF | 1.66% | 7,873 | $3.9M | Reduce -42.1% |
| IEMG iShares Core MSCI Emerging | 1.52% | 67,294 | $3.6M | Add +6.3% |
| BGX Blackstone Long-Short Credit | 1.50% | 286,640 | $3.6M | Reduce -11.8% |
| IWD iShares Russell 1000 Value E | 1.38% | 18,700 | $3.3M | Add +0.6% |
| IJR iShares Core S&P Small-Cap E | 1.37% | 30,489 | $3.3M | Add +1.2% |
| SCHX Schwab US Large-Cap ETF | 1.35% | 49,744 | $3.2M | Reduce -1.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.28% | 7,471 | $3.0M | Reduce -10.3% |
| JPM JPMorgan Chase & Co. | 1.27% | 14,918 | $3.0M | Reduce -3.8% |
| AFT Apollo Senior Floating Rate | 1.24% | 202,529 | $2.9M | Reduce -42.8% |
| SCHA Schwab US Small-Cap ETF | 1.20% | 60,056 | $2.8M | Add +14.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.16% | 5,033 | $2.7M | Add +39.0% |
| IJH iShares Core S&P Midcap ETF | 1.10% | 44,695 | $2.6M | Add +0.1% |
| BGB Blackstone Strategic Credit | 1.05% | 209,509 | $2.5M | Reduce -11.1% |
| JPST JPMorgan Ultra-Short Income | 0.96% | 45,203 | $2.3M | Add +47.3% |
| TFX Teleflex Inc. | 0.92% | 10,414 | $2.2M | Add +7.0% |
| MSFT Microsoft Corp. | 0.86% | 4,563 | $2.0M | Reduce -1.1% |
| TSLA Tesla Inc. | 0.80% | 9,579 | $1.9M | Reduce -1.4% |
| KKR KKR & Co. Inc. | 0.78% | 17,483 | $1.8M | Reduce -1.0% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.73% | 7,530 | $1.7M | No change |
| WMT Walmart Inc. | 0.64% | 22,396 | $1.5M | Reduce -1.6% |
| VT Vanguard Tot World STK ETF | 0.58% | 4,288 | $1.4M | Add +81.5% |
| GOOG Alphabet Inc. Class C | 0.57% | 7,389 | $1.4M | Reduce -5.8% |
| KWEB Kranesh Csi China Internet | 0.56% | 49,020 | $1.3M | No change |
| EEM iShares MSCI Emerging Market | 0.55% | 30,411 | $1.3M | No change |
| XLF SS Financial Select Sector | 0.53% | 30,674 | $1.3M | Reduce -8.1% |
| SHYG iShares 0-5 YR HY Corp. Bond | 0.53% | 29,859 | $1.3M | No change |
| BRK.A 1/100 Berkshire HTWY A Class A | 0.52% | 200 | $1.2M | No change |
| VNQ Vanguard Real Estate ETF | 0.50% | 14,224 | $1.2M | No change |
| NVDA Nvidia Corp. | 0.49% | 9,440 | $1.2M | Reduce -13.2% |
| APO Apollo Global Management Inc. | 0.49% | 9,824 | $1.2M | No change |
| BRW Saba Capital Income & Opport | 0.48% | 162,644 | $1.1M | Reduce -1.8% |
| KO The Coca-Cola Co. | 0.48% | 17,936 | $1.1M | Reduce -0.9% |
| ECL Ecolab Inc. | 0.48% | 4,733 | $1.1M | Reduce -5.7% |
| IUSV iShares Core S&P U.S. Value | 0.47% | 12,730 | $1.1M | Add +14.0% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.47% | 4,429 | $1.1M | No change |
| MCD McDonald's Corp. | 0.46% | 4,309 | $1.1M | Reduce -1.7% |
| PM Philip Morris International | 0.46% | 10,021 | $1.1M | Add +38.5% |
| NFLX Netflix Inc. | 0.43% | 1,513 | $1.0M | Add +5.2% |
| LLY Eli Lilly & Co. | 0.43% | 1,123 | $1.0M | Reduce -3.9% |
| GOOGL Alphabet Inc. Class A | 0.40% | 5,180 | $944K | Reduce -10.4% |
| IWM iShares Russell 2000 ETF | 0.39% | 4,615 | $925K | Add +5.2% |
| IWP iShares Russell Mid-Cap Grow | 0.38% | 8,294 | $892K | Add +21.8% |
| XLK SS Technology Select Sector | 0.37% | 3,922 | $887K | Add +1.4% |
| VYM Vanguard High DVD Yield ETF | 0.37% | 7,374 | $875K | Reduce -45.2% |
| EMLP First Trust North American E | 0.37% | 28,673 | $873K | No change |
| CBZ Cbiz Inc. | 0.34% | 11,000 | $815K | No change |
| NRK Nuveen NY Amt-FR Muni Inc. | 0.31% | 66,704 | $740K | No change |
| EFA iShares MSCI Eafe ETF | 0.31% | 9,366 | $734K | No change |
| HD Home Depot Inc. | 0.31% | 2,131 | $734K | Reduce -3.4% |
| BX Blackstone Inc. | 0.30% | 5,730 | $709K | Reduce -2.8% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.28% | 1,772 | $663K | No change |
| PPG PPG Industries Inc. | 0.28% | 5,204 | $655K | Reduce -0.3% |
| OKE Oneok Inc. | 0.28% | 8,003 | $653K | Reduce -1.0% |
| QCOM Qualcomm Inc. | 0.26% | 3,119 | $621K | Reduce -4.3% |
| VEA Vanguard Ftse Developed ETF | 0.26% | 12,494 | $617K | Add +2.5% |
| CRM Salesforce Inc. | 0.26% | 2,401 | $617K | Add +85.8% |
| OBDC Blue Owl Capital Corp. | 0.26% | 40,121 | $616K | Reduce -96.8% |
| MRK Merck & Co. Inc. | 0.26% | 4,891 | $606K | Add +12.2% |
| AEP American Electric Power | 0.25% | 6,707 | $588K | Reduce -0.1% |
| CMCSA Comcast Corp. Class A | 0.25% | 14,918 | $584K | Add +6.5% |
| DIVB iShares Core Dividend ETF | 0.23% | 12,487 | $552K | No change |
| OPP Rivernrth/Doublelne STR Opp | 0.23% | 63,859 | $552K | Reduce -0.1% |
| JNJ Johnson & Johnson | 0.23% | 3,694 | $540K | Add +10.0% |
| PH Parker Hannifin Corp. | 0.22% | 1,037 | $525K | Reduce -1.6% |
| VWO Vanguard Ftse Emerging Marke | 0.22% | 11,768 | $515K | No change |
| SMH Vaneck Semiconductor ETF | 0.21% | 1,954 | $509K | No change |
| GS Goldman Sachs Group Inc. | 0.21% | 1,092 | $494K | Reduce -6.0% |
| FNDX Schwab Fndmntl US LRG Co. ETF | 0.20% | 7,196 | $482K | Add +63.2% |
| V Visa Inc. Class A | 0.19% | 1,752 | $460K | Add +5.2% |
| PFE Pfizer Inc. | 0.19% | 16,321 | $457K | Add +1.9% |
| PSX Phillips 66 | 0.19% | 4,987 | $454K | Add +154.6% |
| NEAR iShares SH Dba ETF Usd Inc. | 0.19% | 8,975 | $452K | No change |
| NAN Nuveen NY QLTY Muni Inc. | 0.19% | 39,784 | $448K | No change |
| SLRC SLR Investment Corp. | 0.19% | 27,520 | $443K | No change |
| BN Brookfield Corp. | 0.18% | 10,500 | $436K | No change |
| NOC Northrop Grumman Corp. | 0.18% | 970 | $423K | Add +16.3% |
| TRU Transunion | 0.18% | 5,691 | $422K | New |
| SCHD Schwab US DVD Equity ETF | 0.18% | 5,356 | $416K | Add +5.9% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.17% | 2,511 | $403K | No change |
| GDX Vaneck Gold Miners ETF | 0.17% | 11,752 | $399K | No change |
| ABBV Abbvie Inc. | 0.17% | 2,301 | $395K | Reduce -3.0% |
| PG The Procter & Gamble Co. | 0.17% | 2,378 | $392K | Reduce -9.1% |
| ADBE Adobe Inc. | 0.16% | 678 | $377K | Add +3.2% |
| CSGS CSG Systems Intl Inc. | 0.16% | 9,000 | $371K | No change |
| PINS Pinterest Inc. Class A | 0.16% | 8,380 | $369K | Add +0.1% |
| IWC iShares Micro-Cap ETF | 0.15% | 3,123 | $356K | No change |
| ADP Automatic Data Processing | 0.15% | 1,442 | $344K | Add +5.3% |
Options reported separately and not counted above: TESLA INC puts ($1.9M).
Portfolio Sells Q1 2024 → Q2 2024
| OBDC Blue Owl Capital Corp. | Reduce -96.8% | 0.26% | −7.59 |
| IWB iShares Russell 1000 ETF | Sold out | 0.00% | −1.54 |
| VOO Vanguard S&P 500 ETF | Reduce -42.1% | 1.66% | −1.00 |
| AFT Apollo Senior Floating Rate | Reduce -42.8% | 1.24% | −0.81 |
| VGT Vanguard Info Tech ETF | Sold out | 0.00% | −0.42 |
| VYM Vanguard High DVD Yield ETF | Reduce -45.2% | 0.37% | −0.29 |
| BOND PIMCO Active Bond Exchange-T | Sold out | 0.00% | −0.19 |
| TCPC BlackRock TCP Capital Corp. | Reduce -60.4% | 0.13% | −0.17 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -10.3% | 1.28% | −0.14 |
| PAYC Paycom Software Inc. | Sold out | 0.00% | −0.13 |
| VIG Vanguard Dividend Apprec ETF | Reduce -58.7% | 0.09% | −0.12 |
| BGX Blackstone Long-Short Credit | Reduce -11.8% | 1.50% | −0.12 |
| ABT Abbott Laboratories | Sold out | 0.00% | −0.10 |
| FNF Fidelity National Financial | Sold out | 0.00% | −0.10 |
| MJ Amplify ETF TR | Sold out | 0.00% | −0.09 |
| BGB Blackstone Strategic Credit | Reduce -11.1% | 1.05% | −0.09 |
| MANH Manhattan Associates Inc. | Sold out | 0.00% | −0.09 |
| PLD Prologis Inc. | Sold out | 0.00% | −0.09 |
| PARAA Paramount Global Class B | Sold out | 0.00% | −0.08 |
| DHR Danaher Corp. | Sold out | 0.00% | −0.08 |
| BA The Boeing Co. | Sold out | 0.00% | −0.08 |
| BSL Blackstone SNR Fltng RT | Sold out | 0.00% | −0.06 |
| NVG Nuveen Amt-FR Muni CRDT | Sold out | 0.00% | −0.05 |
| WPLCF Wise PLC - A | Sold out | 0.00% | −0.05 |
| JFR Nuveen Floating Rate Income | Reduce -5.2% | 1.99% | −0.05 |
| XLF SS Financial Select Sector | Reduce -8.1% | 0.53% | −0.04 |
| MCD McDonald's Corp. | Reduce -1.7% | 0.46% | −0.04 |
| HD Home Depot Inc. | Reduce -3.4% | 0.31% | −0.03 |
| PPG PPG Industries Inc. | Reduce -0.3% | 0.28% | −0.03 |
| PH Parker Hannifin Corp. | Reduce -1.6% | 0.22% | −0.02 |
| BX Blackstone Inc. | Reduce -2.8% | 0.30% | −0.02 |
| TRV The Travelers Cos Inc. | Reduce -2.1% | 0.09% | −0.01 |
| ABBV Abbvie Inc. | Reduce -3.0% | 0.17% | −0.01 |
| BRW Saba Capital Income & Opport | Reduce -1.8% | 0.48% | −0.01 |
| PG The Procter & Gamble Co. | Reduce -9.1% | 0.17% | −0.01 |
| MDLZ Mondelez International Inc. Class A | Reduce -2.3% | 0.10% | −0.01 |
| MGM MGM Resorts International | Reduce -0.4% | 0.11% | −0.00 |
| CYDY Cytodyn Inc. | Sold out | 0.00% | −0.00 |
| ROP Roper Technologies Inc. | Reduce -4.2% | 0.12% | −0.00 |
| MCHP Microchip Technology Inc. | Reduce -2.8% | 0.09% | +0.00 |
| ECL Ecolab Inc. | Reduce -5.7% | 0.48% | +0.00 |
| COST Costco Wholesale Corp. | Reduce -12.3% | 0.12% | +0.01 |
| QQQM Invesco Nasdaq 100 ETF | Reduce -6.1% | 0.13% | +0.01 |
| LII Lennox International Inc. | Reduce -6.8% | 0.13% | +0.01 |
| OPP Rivernrth/Doublelne STR Opp | Reduce -0.1% | 0.23% | +0.01 |
| JPM JPMorgan Chase & Co. | Reduce -3.8% | 1.27% | +0.01 |
| XLV SS Health Care Select Sector | Reduce -2.0% | 2.90% | +0.01 |
| GS Goldman Sachs Group Inc. | Reduce -6.0% | 0.21% | +0.01 |
| OKE Oneok Inc. | Reduce -1.0% | 0.28% | +0.01 |
| AEP American Electric Power | Reduce -0.1% | 0.25% | +0.01 |
Portfolio Buys Q1 2024 → Q2 2024
| GBDC Golub Capital BDC Inc. | Add +191.8% | 5.11% | +3.33 |
| IWF iShares Russell 1000 Growth | Add +78.0% | 4.27% | +1.95 |
| IVV iShares Core S&P 500 ETF | Add +2.9% | 12.63% | +1.26 |
| AAPL Apple Inc. | Add +1.0% | 3.99% | +0.89 |
| QQQ Invesco QQQ Trust Series 1 | Add +0.7% | 4.80% | +0.54 |
| VT Vanguard Tot World STK ETF | Add +81.5% | 0.58% | +0.47 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +39.0% | 1.16% | +0.39 |
| JPST JPMorgan Ultra-Short Income | Add +47.3% | 0.96% | +0.33 |
| PM Philip Morris International | Add +38.5% | 0.46% | +0.19 |
| IEMG iShares Core MSCI Emerging | Add +6.3% | 1.52% | +0.19 |
| TRU Transunion | New | 0.18% | +0.18 |
| IEFA iShares Core MSCI Eafe ETF | Add +5.2% | 2.71% | +0.17 |
| SCHA Schwab US Small-Cap ETF | Add +14.0% | 1.20% | +0.15 |
| SCHW Schwab (charles) Corp. | Add +1.7% | 2.06% | +0.14 |
| TXN Texas Instruments Inc. | New | 0.11% | +0.11 |
| CRM Salesforce Inc. | Add +85.8% | 0.26% | +0.10 |
| WMB Williams Cos Inc. | New | 0.09% | +0.09 |
| SPGI S&P Global Inc. | New | 0.09% | +0.09 |
| BLK BlackRock Finance Inc. | New | 0.09% | +0.09 |
| BIV Vanguard Intermediate-Term B | New | 0.09% | +0.09 |
| BKNG Booking Holdings Inc. | New | 0.09% | +0.09 |
| FNDX Schwab Fndmntl US LRG Co. ETF | Add +63.2% | 0.20% | +0.08 |
| NFLX Netflix Inc. | Add +5.2% | 0.43% | +0.08 |
| IUSV iShares Core S&P U.S. Value | Add +14.0% | 0.47% | +0.06 |
| PSX Phillips 66 | Add +154.6% | 0.19% | +0.06 |
| IWP iShares Russell Mid-Cap Grow | Add +21.8% | 0.38% | +0.06 |
| XLK SS Technology Select Sector | Add +1.4% | 0.37% | +0.05 |
| PINS Pinterest Inc. Class A | Add +0.1% | 0.16% | +0.04 |
| TFX Teleflex Inc. | Add +7.0% | 0.92% | +0.03 |
| CVX Chevron Corp. | Add +22.9% | 0.13% | +0.03 |
| MO Altria Group Inc. | Add +20.7% | 0.11% | +0.03 |
| ADBE Adobe Inc. | Add +3.2% | 0.16% | +0.02 |
| IWD iShares Russell 1000 Value E | Add +0.6% | 1.38% | +0.02 |
| MRK Merck & Co. Inc. | Add +12.2% | 0.26% | +0.02 |
| IJR iShares Core S&P Small-Cap E | Add +1.2% | 1.37% | +0.02 |
| HON Honeywell International Inc. | Add +10.9% | 0.11% | +0.02 |
| NOC Northrop Grumman Corp. | Add +16.3% | 0.18% | +0.02 |
| IWM iShares Russell 2000 ETF | Add +5.2% | 0.39% | +0.02 |
| PFE Pfizer Inc. | Add +1.9% | 0.19% | +0.01 |
| JNJ Johnson & Johnson | Add +10.0% | 0.23% | +0.01 |
| VEA Vanguard Ftse Developed ETF | Add +2.5% | 0.26% | +0.01 |
| SCHD Schwab US DVD Equity ETF | Add +5.9% | 0.18% | +0.01 |
| ADP Automatic Data Processing | Add +5.3% | 0.15% | +0.01 |
| V Visa Inc. Class A | Add +5.2% | 0.19% | +0.01 |
| ITW Illinois Tool Works | Add +12.9% | 0.11% | +0.00 |
| IJH iShares Core S&P Midcap ETF | Add +0.1% | 1.10% | +0.00 |
| CMCSA Comcast Corp. Class A | Add +6.5% | 0.25% | −0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 138 | $370.5M | IVV, MFIC, OBDC, IEFA, QQQ |
| Q1 2026 | 134 | $330.2M | IVV, MFIC, OBDC, IEFA, QQQ |
| Q4 2025 | 136 | $312.3M | IVV, MFIC, TCPC, QQQ, IEFA |
| Q3 2025 | 139 | $299.6M | IVV, MFIC, TCPC, QQQ, META |
| Q2 2025 | 137 | $270.6M | IVV, META, QQQ, IEFA, AMZN |
| Q1 2025 | 118 | $208.5M | IVV, QQQ, META, AAPL, IEFA |
| Q4 2024 | 140 | $243.3M | IVV, QQQ, AAPL, META, AMZN |
| Q3 2024 | 136 | $245.1M | IVV, GBDC, QQQ, META, AAPL |
| Q2 2024 | 135 | $237.1M | IVV, GBDC, QQQ, IWF, AMZN |
| Q1 2024 | 144 | $246.0M | IVV, OBDC, QQQ, META, AMZN |