Next Capital Management LLC
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 7, 2024), Next Capital Management LLC reported 136 stock positions worth $245.1 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 13.4% of the portfolio, followed by Golub Capital BDC (GBDC, 4.8%) and Invesco QQQ Trust Series 1 (QQQ, 4.7%). Compared with Q2 2024, it opened 15 new positions, sold out of 14, added to 31 and reduced 55. The biggest buy was a new position in iShares Russell 1000 ETF (IWB) and the biggest sale iShares Russell 1000 Growth (IWF, shares −43%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001752762
- Portfolio Value
- $245.1M (Q3 2024)
- SEC Filing
- 0001437749-24-033793 ↗ filed Nov 7, 2024
Holdings Value
Holdings 136 stocks · $245.1M
| IVV iShares Core S&P 500 ETF | 13.43% | 57,065 | $32.9M | Add +4.3% |
| GBDC Golub Capital BDC Inc. | 4.76% | 771,910 | $11.7M | No change |
| QQQ Invesco QQQ Trust Series 1 | 4.70% | 23,617 | $11.5M | Reduce -0.6% |
| META Meta Platforms Inc. Class A | 4.39% | 18,779 | $10.7M | Reduce -1.9% |
| AAPL Apple Inc. | 4.14% | 43,570 | $10.2M | Reduce -2.9% |
| VTI VG Morningstar TS MKT ETF-US | 3.38% | 29,274 | $8.3M | Add +55.4% |
| IEFA iShares Core MSCI Eafe ETF | 3.16% | 99,359 | $7.8M | Add +12.3% |
| AMZN Amazon.com Inc. | 3.15% | 41,449 | $7.7M | Reduce -18.5% |
| XLV SS Health Care Select Sector | 2.91% | 46,256 | $7.1M | Reduce -1.9% |
| IWF iShares Russell 1000 Growth | 2.64% | 17,224 | $6.5M | Reduce -42.9% |
| IVW iShares S&P 500 Growth ETF | 1.81% | 46,295 | $4.4M | No change |
| VOO Vanguard S&P 500 ETF | 1.70% | 7,874 | $4.2M | Add +0.0% |
| IWB iShares Russell 1000 ETF | 1.66% | 12,949 | $4.1M | New |
| IEMG iShares Core MSCI Emerging | 1.59% | 67,931 | $3.9M | Add +0.9% |
| IWD iShares Russell 1000 Value E | 1.47% | 18,962 | $3.6M | Add +1.4% |
| IJR iShares Core S&P Small-Cap E | 1.45% | 30,480 | $3.6M | Reduce -0.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.37% | 7,649 | $3.4M | Add +2.4% |
| IJH iShares Core S&P Midcap ETF | 1.37% | 53,792 | $3.4M | Add +20.4% |
| SCHX Schwab US Large-Cap ETF | 1.35% | 48,834 | $3.3M | Reduce -1.8% |
| SCHA Schwab US Small-Cap ETF | 1.29% | 61,426 | $3.2M | Add +2.3% |
| VIG Vanguard Dividend Apprec ETF | 1.24% | 15,297 | $3.0M | Add +1159.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.24% | 5,273 | $3.0M | Add +4.8% |
| MFIC Midcap Financial Investment | 1.09% | 187,880 | $2.7M | New |
| TFX Teleflex Inc. | 1.05% | 10,414 | $2.6M | No change |
| TSLA Tesla Inc. | 1.03% | 9,672 | $2.5M | Add +1.0% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.99% | 6,308 | $2.4M | Add +256.0% |
| KKR KKR & Co. Inc. | 0.93% | 17,387 | $2.3M | Reduce -0.6% |
| JPST JPMorgan Ultra-Short Income | 0.86% | 41,425 | $2.1M | Reduce -8.4% |
| JFR Nuveen Floating Rate Income | 0.86% | 237,911 | $2.1M | Reduce -56.3% |
| SCHW Schwab (charles) Corp. | 0.75% | 28,396 | $1.8M | Reduce -57.1% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.75% | 7,530 | $1.8M | No change |
| WMT Walmart Inc. | 0.71% | 21,692 | $1.8M | Reduce -3.1% |
| MSFT Microsoft Corp. | 0.71% | 4,070 | $1.8M | Reduce -10.8% |
| NVDA Nvidia Corp. | 0.71% | 14,345 | $1.7M | Add +52.0% |
| BGX Blackstone Long-Short Credit | 0.70% | 133,592 | $1.7M | Reduce -53.4% |
| KWEB Kranesh Csi China Internet | 0.68% | 49,020 | $1.7M | No change |
| VGT Vanguard Info Tech ETF | 0.66% | 2,755 | $1.6M | New |
| EEM iShares MSCI Emerging Market | 0.57% | 30,624 | $1.4M | Add +0.7% |
| VNQ Vanguard Real Estate ETF | 0.57% | 14,224 | $1.4M | No change |
| BRK.A 1/100 Berkshire HTWY A Class A | 0.56% | 200 | $1.4M | No change |
| XLF SS Financial Select Sector | 0.55% | 29,868 | $1.4M | Reduce -2.6% |
| MCD McDonald's Corp. | 0.53% | 4,296 | $1.3M | Reduce -0.3% |
| SHYG iShares 0-5 YR HY Corp. Bond | 0.53% | 29,859 | $1.3M | No change |
| AVB Avalonbay Communities Inc. | 0.52% | 5,650 | $1.3M | Add +289.7% |
| KO The Coca-Cola Co. | 0.52% | 17,636 | $1.3M | Reduce -1.7% |
| IUSV iShares Core S&P U.S. Value | 0.51% | 13,031 | $1.2M | Add +2.4% |
| GOOG Alphabet Inc. Class C | 0.48% | 7,073 | $1.2M | Reduce -4.3% |
| BRW Saba Capital Income & Opport | 0.48% | 155,616 | $1.2M | Reduce -4.3% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.48% | 4,429 | $1.2M | No change |
| ECL Ecolab Inc. | 0.47% | 4,550 | $1.2M | Reduce -3.9% |
| FNDX Schwab Fndmntl US LRG Co. ETF | 0.46% | 15,838 | $1.1M | Add +120.1% |
| SPHQ Invesco S&P 500 Quality ETF | 0.43% | 15,639 | $1.1M | Add +240.3% |
| IWM iShares Russell 2000 ETF | 0.41% | 4,515 | $997K | Reduce -2.2% |
| VYM Vanguard High DVD Yield ETF | 0.41% | 7,778 | $997K | Add +5.5% |
| BGB Blackstone Strategic Credit | 0.39% | 76,876 | $947K | Reduce -63.3% |
| PM Philip Morris International | 0.38% | 7,665 | $931K | Reduce -23.5% |
| JPM JPMorgan Chase & Co. | 0.37% | 4,278 | $902K | Reduce -71.3% |
| GOOGL Alphabet Inc. Class A | 0.37% | 5,428 | $900K | Add +4.8% |
| HD Home Depot Inc. | 0.36% | 2,189 | $887K | Add +2.7% |
| XLK SS Technology Select Sector | 0.36% | 3,922 | $885K | No change |
| SCHD Schwab US DVD Equity ETF | 0.36% | 10,451 | $883K | Add +95.1% |
| BX Blackstone Inc. | 0.36% | 5,746 | $880K | Add +0.3% |
| NFLX Netflix Inc. | 0.36% | 1,240 | $879K | Reduce -18.0% |
| QQQM Invesco Nasdaq 100 ETF | 0.34% | 4,111 | $826K | Add +166.1% |
| LLY Eli Lilly & Co. | 0.33% | 909 | $805K | Reduce -19.1% |
| IWP iShares Russell Mid-Cap Grow | 0.32% | 6,717 | $788K | Reduce -19.0% |
| EFA iShares MSCI Eafe ETF | 0.32% | 9,366 | $783K | No change |
| AEP American Electric Power | 0.32% | 7,620 | $782K | Add +13.6% |
| NRK Nuveen NY Amt-FR Muni Inc. | 0.30% | 66,704 | $747K | No change |
| CBZ Cbiz Inc. | 0.30% | 11,000 | $740K | No change |
| OKE Oneok Inc. | 0.29% | 7,880 | $718K | Reduce -1.5% |
| PPG PPG Industries Inc. | 0.28% | 5,204 | $689K | No change |
| VEA Vanguard Ftse Developed ETF | 0.27% | 12,494 | $660K | No change |
| PH Parker Hannifin Corp. | 0.27% | 1,035 | $654K | Reduce -0.2% |
| EMLP First Trust North American E | 0.27% | 19,345 | $650K | Reduce -32.5% |
| OBDC Blue Owl Capital Corp. | 0.24% | 40,121 | $585K | No change |
| OPP Rivernrth/Doublelne STR Opp | 0.24% | 63,859 | $580K | No change |
| CMCSA Comcast Corp. Class A | 0.23% | 13,767 | $575K | Reduce -7.7% |
| MRK Merck & Co. Inc. | 0.22% | 4,788 | $544K | Reduce -2.1% |
| QCOM Qualcomm Inc. | 0.22% | 3,184 | $541K | Add +2.1% |
| GS Goldman Sachs Group Inc. | 0.22% | 1,092 | $541K | No change |
| JNJ Johnson & Johnson | 0.22% | 3,303 | $535K | Reduce -10.6% |
| VWO Vanguard Ftse Emerging Marke | 0.19% | 9,931 | $475K | Reduce -15.6% |
| PFE Pfizer Inc. | 0.19% | 16,215 | $469K | Reduce -0.7% |
| NAN Nuveen NY QLTY Muni Inc. | 0.19% | 39,784 | $469K | No change |
| GDX Vaneck Gold Miners ETF | 0.19% | 11,752 | $468K | No change |
| NEAR iShares SH Dba ETF Usd Inc. | 0.19% | 8,975 | $460K | No change |
| BOND PIMCO Active Bond Exchange-T | 0.19% | 4,817 | $456K | New |
| NOC Northrop Grumman Corp. | 0.18% | 842 | $445K | Reduce -13.2% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.18% | 2,511 | $438K | No change |
| CSGS CSG Systems Intl Inc. | 0.18% | 9,000 | $438K | No change |
| TCPC BlackRock TCP Capital Corp. | 0.17% | 50,858 | $422K | Add +82.0% |
| ABBV Abbvie Inc. | 0.17% | 2,116 | $418K | Reduce -8.0% |
| SLRC SLR Investment Corp. | 0.17% | 27,520 | $414K | No change |
| PG The Procter & Gamble Co. | 0.16% | 2,310 | $400K | Reduce -2.9% |
| EPD Enterprise Products Partners | 0.16% | 13,393 | $390K | New |
| IWC iShares Micro-Cap ETF | 0.16% | 3,123 | $385K | No change |
| TYG Tortoise Energy Infrastruct | 0.16% | 9,770 | $383K | No change |
| V Visa Inc. Class A | 0.15% | 1,308 | $360K | Reduce -25.3% |
| LII Lennox International Inc. | 0.14% | 587 | $355K | No change |
Portfolio Sells Q2 2024 → Q3 2024
| IWF iShares Russell 1000 Growth | Reduce -42.9% | 2.64% | −1.63 |
| SCHW Schwab (charles) Corp. | Reduce -57.1% | 0.75% | −1.31 |
| AFT Apollo Senior Floating Rate | Sold out | 0.00% | −1.24 |
| JFR Nuveen Floating Rate Income | Reduce -56.3% | 0.86% | −1.13 |
| AMZN Amazon.com Inc. | Reduce -18.5% | 3.15% | −1.00 |
| JPM JPMorgan Chase & Co. | Reduce -71.3% | 0.37% | −0.90 |
| BGX Blackstone Long-Short Credit | Reduce -53.4% | 0.70% | −0.81 |
| BGB Blackstone Strategic Credit | Reduce -63.3% | 0.39% | −0.66 |
| APO Apollo Global Management Inc. | Sold out | 0.00% | −0.49 |
| VT Vanguard Tot World STK ETF | Reduce -44.9% | 0.12% | −0.47 |
| DIVB iShares Core Dividend ETF | Sold out | 0.00% | −0.23 |
| BN Brookfield Corp. | Sold out | 0.00% | −0.18 |
| TRU Transunion | Sold out | 0.00% | −0.18 |
| MSFT Microsoft Corp. | Reduce -10.8% | 0.71% | −0.15 |
| CRM Salesforce Inc. | Reduce -56.8% | 0.12% | −0.14 |
| SPMB SS SPDR P Mort Back Bond ETF | Sold out | 0.00% | −0.13 |
| SPOT Spotify Technology SA | Sold out | 0.00% | −0.11 |
| TXN Texas Instruments Inc. | Sold out | 0.00% | −0.11 |
| ITW Illinois Tool Works | Sold out | 0.00% | −0.11 |
| JPST JPMorgan Ultra-Short Income | Reduce -8.4% | 0.86% | −0.10 |
| EMLP First Trust North American E | Reduce -32.5% | 0.27% | −0.10 |
| LLY Eli Lilly & Co. | Reduce -19.1% | 0.33% | −0.10 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -0.6% | 4.70% | −0.10 |
| COIN Coinbase Global Inc. Class A | Sold out | 0.00% | −0.10 |
| MCHP Microchip Technology Inc. | Sold out | 0.00% | −0.09 |
| SPGI S&P Global Inc. | Sold out | 0.00% | −0.09 |
| ZGN Ermenegildo Zegna NV | Sold out | 0.00% | −0.09 |
| SMH Vaneck Semiconductor ETF | Reduce -36.6% | 0.12% | −0.09 |
| PSX Phillips 66 | Reduce -61.8% | 0.10% | −0.09 |
| GOOG Alphabet Inc. Class C | Reduce -4.3% | 0.48% | −0.09 |
| BIV Vanguard Intermediate-Term B | Sold out | 0.00% | −0.09 |
| PM Philip Morris International | Reduce -23.5% | 0.38% | −0.08 |
| NFLX Netflix Inc. | Reduce -18.0% | 0.36% | −0.07 |
| IWP iShares Russell Mid-Cap Grow | Reduce -19.0% | 0.32% | −0.05 |
| ADP Automatic Data Processing | Reduce -42.2% | 0.09% | −0.05 |
| ADBE Adobe Inc. | Reduce -22.9% | 0.11% | −0.05 |
| V Visa Inc. Class A | Reduce -25.3% | 0.15% | −0.05 |
| PINS Pinterest Inc. Class A | Reduce -0.1% | 0.11% | −0.05 |
| MRK Merck & Co. Inc. | Reduce -2.1% | 0.22% | −0.03 |
| CVX Chevron Corp. | Reduce -12.1% | 0.11% | −0.03 |
| COST Costco Wholesale Corp. | Reduce -22.7% | 0.09% | −0.03 |
| VWO Vanguard Ftse Emerging Marke | Reduce -15.6% | 0.19% | −0.02 |
| ROP Roper Technologies Inc. | Reduce -13.2% | 0.10% | −0.02 |
| ETWO E2OPEN Parent Holdings Inc. | Reduce -40.0% | 0.03% | −0.02 |
| CMCSA Comcast Corp. Class A | Reduce -7.7% | 0.23% | −0.01 |
| JNJ Johnson & Johnson | Reduce -10.6% | 0.22% | −0.01 |
| WMB Williams Cos Inc. | Reduce -10.6% | 0.09% | −0.01 |
| PG The Procter & Gamble Co. | Reduce -2.9% | 0.16% | −0.00 |
| ECL Ecolab Inc. | Reduce -3.9% | 0.47% | −0.00 |
| PFE Pfizer Inc. | Reduce -0.7% | 0.19% | −0.00 |
Portfolio Buys Q2 2024 → Q3 2024
| IWB iShares Russell 1000 ETF | New | 1.66% | +1.66 |
| VTI VG Morningstar TS MKT ETF-US | Add +55.4% | 3.38% | +1.26 |
| VIG Vanguard Dividend Apprec ETF | Add +1159.0% | 1.24% | +1.14 |
| MFIC Midcap Financial Investment | New | 1.09% | +1.09 |
| IVV iShares Core S&P 500 ETF | Add +4.3% | 13.43% | +0.80 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +256.0% | 0.99% | +0.71 |
| VGT Vanguard Info Tech ETF | New | 0.66% | +0.66 |
| IEFA iShares Core MSCI Eafe ETF | Add +12.3% | 3.16% | +0.45 |
| AVB Avalonbay Communities Inc. | Add +289.7% | 0.52% | +0.39 |
| SPHQ Invesco S&P 500 Quality ETF | Add +240.3% | 0.43% | +0.31 |
| IJH iShares Core S&P Midcap ETF | Add +20.4% | 1.37% | +0.26 |
| FNDX Schwab Fndmntl US LRG Co. ETF | Add +120.1% | 0.46% | +0.26 |
| TSLA Tesla Inc. | Add +1.0% | 1.03% | +0.23 |
| NVDA Nvidia Corp. | Add +52.0% | 0.71% | +0.22 |
| QQQM Invesco Nasdaq 100 ETF | Add +166.1% | 0.34% | +0.21 |
| BOND PIMCO Active Bond Exchange-T | New | 0.19% | +0.19 |
| SCHD Schwab US DVD Equity ETF | Add +95.1% | 0.36% | +0.18 |
| EPD Enterprise Products Partners | New | 0.16% | +0.16 |
| MAYS Mays (j.w.) Inc. | New | 0.14% | +0.14 |
| ABT Abbott Laboratories | New | 0.09% | +0.09 |
| CEG Constellation Energy | New | 0.09% | +0.09 |
| UDR Udr Inc. | New | 0.09% | +0.09 |
| IWD iShares Russell 1000 Value E | Add +1.4% | 1.47% | +0.09 |
| SCHA Schwab US Small-Cap ETF | Add +2.3% | 1.29% | +0.09 |
| MANH Manhattan Associates Inc. | New | 0.09% | +0.09 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +2.4% | 1.37% | +0.09 |
| CURE Direx DLY Hea Bul 3X ETF-Usd | New | 0.08% | +0.08 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +4.8% | 1.24% | +0.08 |
| PARAA Paramount Global Class B | New | 0.08% | +0.08 |
| IEMG iShares Core MSCI Emerging | Add +0.9% | 1.59% | +0.07 |
| AEP American Electric Power | Add +13.6% | 0.32% | +0.07 |
| MJ Amplify ETF TR | New | 0.07% | +0.07 |
| BX Blackstone Inc. | Add +0.3% | 0.36% | +0.06 |
| HD Home Depot Inc. | Add +2.7% | 0.36% | +0.05 |
| TCPC BlackRock TCP Capital Corp. | Add +82.0% | 0.17% | +0.04 |
| WPLCF Wise PLC - A | New | 0.04% | +0.04 |
| VYM Vanguard High DVD Yield ETF | Add +5.5% | 0.41% | +0.04 |
| IUSV iShares Core S&P U.S. Value | Add +2.4% | 0.51% | +0.03 |
| VOO Vanguard S&P 500 ETF | Add +0.0% | 1.70% | +0.03 |
| EEM iShares MSCI Emerging Market | Add +0.7% | 0.57% | +0.03 |
| BKNG Booking Holdings Inc. | Add +2.0% | 0.09% | +0.00 |
| SCHM Schwab US Mid Cap ETF | Add +0.1% | 0.09% | +0.00 |
| CYDY Cytodyn Inc. | New | 0.00% | +0.00 |
| HON Honeywell International Inc. | Add +0.1% | 0.10% | −0.01 |
| GOOGL Alphabet Inc. Class A | Add +4.8% | 0.37% | −0.03 |
| QCOM Qualcomm Inc. | Add +2.1% | 0.22% | −0.04 |
Options Activity Q2 2024 → Q3 2024
| TESLA INC | put | Sold out | 9,400 | $1.9Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
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 |