Next Capital Management LLC

13F filer · CIK 0001752762

Reported Aug 3, 2026

Net seller this quarter

13F portfolio value$370MU.S. long equity reported on 13F

Positions819 new · 9 closed

Net flow last quarter-$2.06MBuys minus sells

Top 10 positions weight28.0%Concentration

Holdings

13F · last 4 quarters free

Scroll for earlier quarters

Company	Value	% of portfolio	% of company	POSITION CHANGE qoq %	First reported
Q2 2026Reported Aug 3, 202681 positions
MFICMidCap Financial Investment Corp	$19.1M	5.17%	2.31%	+1.5%	Q3 2024
OBDCBlue Owl Capital Corp	$18.5M	4.99%	0.34%	+19.0%	Q1 2022
QQQInvesco QQQ Trust, Series 1	$14.7M	3.98%	Not reported	-0.3%	Q4 2018
TCPCBlackRock TCP Capital Corp.	$10.5M	2.84%	3.73%	+2.7%	Q4 2021
METAMeta Platforms, Inc.	$9.73M	2.63%	Not reported	+6.0%	Q4 2018
AAPLApple Inc.	$7.63M	2.06%	0.00%	-1.0%	Q4 2018
AMZNAmazon Com Inc	$7.25M	1.96%	0.00%	-28.7%	Q4 2018
GBDCGOLUB CAPITAL BDC, Inc.	$6.51M	1.76%	0.19%	-10.9%	Q4 2018
SPYSPDR S&P 500 ETF Trust	$4.95M	1.34%	Not reported	-1.9%	Q4 2018
KKRKKR & Co. Inc.	$4.71M	1.27%	0.01%	+7.5%	Q4 2018
NVDANvidia Corp	$4.52M	1.22%	0.00%	+0.1%	Q2 2019
BRK.BBerkshire Hathaway Inc	$4.17M	1.13%	Not reported	-0.1%	Q4 2018
BXBlackstone Inc.	$2.96M	0.80%	0.00%	+12.9%	Q4 2018
APOApollo Global Management, Inc.	$2.91M	0.78%	0.00%	+12.4%	Q2 2022
MSFTMicrosoft Corp	$2.29M	0.62%	0.00%	+8.6%	Q4 2018
LLYELI LILLY & Co	$2.12M	0.57%	0.00%	Not reported	Q4 2018
GOOGAlphabet Inc.	$2.12M	0.57%	Not reported	-5.8%	Q4 2018
GOOGLAlphabet Inc.	$2.02M	0.55%	0.00%	-15.3%	Q1 2019
CRMSalesforce, Inc.	$1.78M	0.48%	0.00%	Not reported	Q4 2018
VOTVan Kampen Municipal Opportunity Trust II	$1.54M	0.42%	Not reported	Not reported	Q4 2018
GSGoldman Sachs Group Inc	$1.53M	0.41%	0.00%	-1.3%	Q2 2019
SCHWSchwab Charles Corp	$1.51M	0.41%	0.00%	-3.6%	Q4 2018
JNJJohnson & Johnson	$1.4M	0.38%	0.00%	Not reported	Q4 2018
MDBMongoDB, Inc.	$1.37M	0.37%	0.01%	-7.2%	Q2 2025
KOCoca Cola Co	$1.35M	0.36%	0.00%	Not reported	Q4 2018
VYMDelaware Investments Minnesota Municipal Income Fund III Inc	$1.34M	0.36%	Not reported	+3.8%	Q4 2023
TPGTPG Inc.	$1.3M	0.35%	Not reported	+23.5%	Q1 2026
JPMJPMorgan Chase & Co	$1.11M	0.30%	0.00%	+2.6%	Q4 2018
PHParker-Hannifin Corp	$1.01M	0.27%	0.00%	Not reported	Q2 2021
ECLEcolab Inc.	$815K	0.22%	0.00%	Not reported	Q2 2019
XOMExxonMobil Holdings Corp	$784K	0.21%	0.00%	Not reported	Q4 2018
AEPAmerican Electric Power Co Inc	$752K	0.20%	0.00%	-2.7%	Q1 2019
GLDSPDR Gold Trust	$729K	0.20%	0.00%	Not reported	Q1 2026
OKEOneok Inc	$685K	0.18%	0.00%	Not reported	Q2 2019
BNBROOKFIELD Corp	$671K	0.18%	Not reported	Not reported	Q4 2022
PPGPPG Industries Inc	$605K	0.16%	0.00%	-0.9%	Q2 2019
GEVGE Vernova Inc.	$594K	0.16%	0.00%	Not reported	Q2 2025
QCOMQualcomm Inc	$594K	0.16%	0.00%	-1.6%	Q4 2018
BRWSaba Capital Income & Opportunities Fund	$584K	0.16%	Not reported	Not reported	Q2 2021
ILMNIllumina, Inc.	$573K	0.15%	0.00%	-9.0%	Q2 2019
IWSImageware Systems Inc	$564K	0.15%	Not reported	-7.7%	Q2 2025
EPDEnterprise Products Partners L.P.	$527K	0.14%	0.00%	Not reported	Q3 2019
TRSTrimas Corp	$518K	0.14%	0.03%	Not reported	Q2 2019
CATCaterpillar Inc	$463K	0.13%	0.00%	-18.7%	Q3 2025
AVGOBroadcom Inc.	$431K	0.12%	0.00%	Not reported	Q2 2019
OPPRiverNorth/DoubleLine Strategic Opportunity Fund, Inc.	$425K	0.11%	Not reported	Not reported	Q2 2022
TYGTortoise Energy Infrastructure Corp	$419K	0.11%	Not reported	Not reported	Q1 2020
WULFTerawulf Inc.	$402K	0.11%	0.00%	Not reported	Q3 2025
SPOTSpotify Technology S.A.	$395K	0.11%	0.00%	-5.1%	Q4 2018
NFLXNetflix Inc	$386K	0.10%	0.00%	-8.9%	Q4 2018

Q1 2026Reported May 7, 202680 positions
MFICMidCap Financial Investment Corp	$21M	6.37%	2.20%	+26.1%	Q3 2024
OBDCBlue Owl Capital Corp	$15.8M	4.78%	0.29%	+610.9%	Q1 2022
QQQInvesco QQQ Trust, Series 1	$11.6M	3.51%	Not reported	-6.2%	Q4 2018
TCPCBlackRock TCP Capital Corp.	$11M	3.33%	3.63%	+13.6%	Q4 2021
METAMeta Platforms, Inc.	$9.32M	2.82%	Not reported	-1.9%	Q4 2018
AMZNAmazon Com Inc	$8.88M	2.69%	0.00%	-5.6%	Q4 2018
GBDCGOLUB CAPITAL BDC, Inc.	$7.18M	2.17%	0.22%	+132.3%	Q4 2018
AAPLApple Inc.	$6.76M	2.05%	0.00%	-6.1%	Q4 2018
KKRKKR & Co. Inc.	$4.42M	1.34%	0.01%	+135.6%	Q4 2018
SPYSPDR S&P 500 ETF Trust	$4.4M	1.33%	Not reported	+9.1%	Q4 2018
BRK.BBerkshire Hathaway Inc	$4M	1.21%	Not reported	+0.8%	Q4 2018
NVDANvidia Corp	$3.94M	1.19%	0.00%	-9.4%	Q2 2019
BXBlackstone Inc.	$2.57M	0.78%	0.00%	+389.5%	Q4 2018
APOApollo Global Management, Inc.	$2.44M	0.74%	0.00%	+1142.9%	Q2 2022
CRMSalesforce, Inc.	$2.12M	0.64%	0.00%	Not reported	Q4 2018
MSFTMicrosoft Corp	$2.09M	0.63%	0.00%	+34.2%	Q4 2018
GOOGLAlphabet Inc.	$1.92M	0.58%	0.00%	+2.5%	Q1 2019
GOOGAlphabet Inc.	$1.82M	0.55%	Not reported	-0.4%	Q4 2018
LLYELI LILLY & Co	$1.63M	0.49%	0.00%	Not reported	Q4 2018
SCHWSchwab Charles Corp	$1.59M	0.48%	0.00%	+3.7%	Q4 2018
JNJJohnson & Johnson	$1.35M	0.41%	0.00%	-1.1%	Q4 2018
GSGoldman Sachs Group Inc	$1.3M	0.39%	0.00%	+8.5%	Q2 2019
VOTVan Kampen Municipal Opportunity Trust II	$1.29M	0.39%	Not reported	Not reported	Q4 2018
KOCoca Cola Co	$1.26M	0.38%	0.00%	+1.4%	Q4 2018
VYMDelaware Investments Minnesota Municipal Income Fund III Inc	$1.21M	0.37%	Not reported	+5.3%	Q4 2023
MDBMongoDB, Inc.	$1.07M	0.33%	0.01%	+4.1%	Q2 2025
TPGTPG Inc.	$1.05M	0.32%	Not reported	New	Q1 2026
XOMExxonMobil Holdings Corp	$973K	0.29%	0.00%	+3.4%	Q4 2018
JPMJPMorgan Chase & Co	$969K	0.29%	0.00%	+7.2%	Q4 2018
PHParker-Hannifin Corp	$927K	0.28%	0.00%	Not reported	Q2 2021
GLDSPDR Gold Trust	$852K	0.26%	0.00%	New	Q1 2026
ECLEcolab Inc.	$778K	0.24%	0.00%	-20.0%	Q2 2019
AEPAmerican Electric Power Co Inc	$741K	0.22%	0.00%	+11.4%	Q1 2019
OKEOneok Inc	$712K	0.22%	0.00%	Not reported	Q2 2019
BNBROOKFIELD Corp	$637K	0.19%	Not reported	Not reported	Q4 2022
BRWSaba Capital Income & Opportunities Fund	$599K	0.18%	Not reported	Not reported	Q2 2021
HONHoneywell International Inc	$588K	0.18%	0.00%	+30.6%	Q2 2019
NFLXNetflix Inc	$571K	0.17%	0.00%	-9.0%	Q4 2018
RYAMRayonier Advanced Materials Inc.	$569K	0.17%	0.08%	-37.5%	Q3 2025
ALABAstera Labs, Inc.	$568K	0.17%	0.00%	Not reported	Q2 2025
PMPhilip Morris International Inc.	$559K	0.17%	0.00%	Not reported	Q4 2018
EPDEnterprise Products Partners L.P.	$543K	0.16%	0.00%	+2.5%	Q3 2019
IWSImageware Systems Inc	$541K	0.16%	Not reported	+65.3%	Q2 2025
PPGPPG Industries Inc	$538K	0.16%	0.00%	-1.8%	Q2 2019
TYGTortoise Energy Infrastructure Corp	$487K	0.15%	Not reported	Not reported	Q1 2020
GEVGE Vernova Inc.	$442K	0.13%	0.00%	-1.0%	Q2 2025
ILMNIllumina, Inc.	$441K	0.13%	0.00%	Not reported	Q2 2019
SPOTSpotify Technology S.A.	$439K	0.13%	0.00%	+5.4%	Q4 2018
OPPRiverNorth/DoubleLine Strategic Opportunity Fund, Inc.	$423K	0.13%	Not reported	Not reported	Q2 2022
QCOMQualcomm Inc	$421K	0.13%	0.00%	+0.7%	Q4 2018

Q4 2025Reported Feb 11, 202681 positions
MFICMidCap Financial Investment Corp	$17M	5.44%	1.61%	+10.6%	Q3 2024
TCPCBlackRock TCP Capital Corp.	$14.7M	4.70%	3.17%	+11.8%	Q4 2021
QQQInvesco QQQ Trust, Series 1	$13.2M	4.21%	Not reported	+1.6%	Q4 2018
METAMeta Platforms, Inc.	$11M	3.51%	Not reported	-0.6%	Q4 2018
AMZNAmazon Com Inc	$10.4M	3.34%	0.00%	-3.0%	Q4 2018
AAPLApple Inc.	$7.71M	2.47%	0.00%	+2.3%	Q4 2018
NVDANvidia Corp	$4.65M	1.49%	0.00%	-5.8%	Q2 2019
SPYSPDR S&P 500 ETF Trust	$4.23M	1.35%	Not reported	+5.9%	Q4 2018
BRK.BBerkshire Hathaway Inc	$4.17M	1.33%	Not reported	-1.9%	Q4 2018
GBDCGOLUB CAPITAL BDC, Inc.	$3.31M	1.06%	0.09%	Not reported	Q4 2018
KKRKKR & Co. Inc.	$2.58M	0.83%	0.00%	Not reported	Q4 2018
OBDCBlue Owl Capital Corp	$2.49M	0.80%	0.04%	+407.0%	Q1 2022
GOOGLAlphabet Inc.	$2.04M	0.65%	0.00%	+5.3%	Q1 2019
MSFTMicrosoft Corp	$2.04M	0.65%	0.00%	-3.6%	Q4 2018
GOOGAlphabet Inc.	$2M	0.64%	Not reported	-2.8%	Q4 2018
LLYELI LILLY & Co	$1.9M	0.61%	0.00%	Not reported	Q4 2018
MDBMongoDB, Inc.	$1.77M	0.57%	0.01%	-2.0%	Q2 2025
SCHWSchwab Charles Corp	$1.63M	0.52%	0.00%	-39.2%	Q4 2018
BRK.ABerkshire Hathaway Inc	$1.51M	0.48%	Not reported	Not reported	Q1 2025
VOTVan Kampen Municipal Opportunity Trust II	$1.4M	0.45%	Not reported	Not reported	Q4 2018
TFXTeleflex Inc	$1.27M	0.41%	0.02%	Not reported	Q4 2018
GSGoldman Sachs Group Inc	$1.24M	0.40%	0.00%	Not reported	Q2 2019
JNJJohnson & Johnson	$1.16M	0.37%	0.00%	+0.2%	Q4 2018
KOCoca Cola Co	$1.15M	0.37%	0.00%	Not reported	Q4 2018
VYMDelaware Investments Minnesota Municipal Income Fund III Inc	$1.12M	0.36%	Not reported	Not reported	Q4 2023
JPMJPMorgan Chase & Co	$990K	0.32%	0.00%	-27.0%	Q4 2018
ECLEcolab Inc.	$960K	0.31%	0.00%	-3.2%	Q2 2019
PHParker-Hannifin Corp	$910K	0.29%	0.00%	Not reported	Q2 2021
ALABAstera Labs, Inc.	$862K	0.28%	0.00%	Not reported	Q2 2025
BNBROOKFIELD Corp	$723K	0.23%	Not reported	Not reported	Q4 2022
BXBlackstone Inc.	$703K	0.23%	0.00%	+0.5%	Q4 2018
CSGSCSG Systems International Inc	$690K	0.22%	0.03%	Not reported	Q4 2018
XOMExxonMobil Holdings Corp	$667K	0.21%	0.00%	-3.5%	Q4 2018
BRWSaba Capital Income & Opportunities Fund	$623K	0.20%	Not reported	Not reported	Q2 2021
NFLXNetflix Inc	$612K	0.20%	0.00%	-34.6%	Q4 2018
AEPAmerican Electric Power Co Inc	$585K	0.19%	0.00%	Not reported	Q1 2019
OKEOneok Inc	$579K	0.19%	0.00%	Not reported	Q2 2019
QCOMQualcomm Inc	$555K	0.18%	0.00%	+0.9%	Q4 2018
COFCapital One Financial Corp	$540K	0.17%	0.00%	Not reported	Q2 2019
PPGPPG Industries Inc	$526K	0.17%	0.00%	-1.4%	Q2 2019
SPOTSpotify Technology S.A.	$499K	0.16%	0.00%	Not reported	Q4 2018
RYAMRayonier Advanced Materials Inc.	$484K	0.16%	0.12%	+24.2%	Q3 2025
ILMNIllumina, Inc.	$469K	0.15%	0.00%	Not reported	Q2 2019
EPDEnterprise Products Partners L.P.	$449K	0.14%	0.00%	Not reported	Q3 2019
OPPRiverNorth/DoubleLine Strategic Opportunity Fund, Inc.	$438K	0.14%	Not reported	Not reported	Q2 2022
SLRCSLR Investment Corp.	$425K	0.14%	0.05%	Not reported	Q1 2020
TRSTrimas Corp	$408K	0.13%	0.03%	Not reported	Q2 2019
TYGTortoise Energy Infrastructure Corp	$400K	0.13%	Not reported	Not reported	Q1 2020
HONHoneywell International Inc	$389K	0.12%	0.00%	Not reported	Q2 2019
GEVGE Vernova Inc.	$334K	0.11%	0.00%	+1.0%	Q2 2025

Q3 2025Reported Nov 5, 202587 positions
MFICMidCap Financial Investment Corp	$16.1M	5.37%	1.44%	+84.9%	Q3 2024
TCPCBlackRock TCP Capital Corp.	$14.9M	4.97%	2.82%	+111.6%	Q4 2021
QQQInvesco QQQ Trust, Series 1	$12.7M	4.22%	Not reported	-3.3%	Q4 2018
METAMeta Platforms, Inc.	$12.3M	4.10%	Not reported	+0.3%	Q4 2018
AMZNAmazon Com Inc	$10.2M	3.41%	0.00%	+6.0%	Q4 2018
AAPLApple Inc.	$7.05M	2.35%	0.00%	-37.1%	Q4 2018
NVDANvidia Corp	$4.93M	1.65%	0.00%	-2.2%	Q2 2019
BRK.BBerkshire Hathaway Inc	$4.25M	1.42%	Not reported	Not reported	Q4 2018
SPYSPDR S&P 500 ETF Trust	$3.9M	1.30%	Not reported	+1.3%	Q4 2018
GBDCGOLUB CAPITAL BDC, Inc.	$3.34M	1.12%	0.09%	-12.6%	Q4 2018
KKRKKR & Co. Inc.	$2.63M	0.88%	0.00%	Not reported	Q4 2018
MSFTMicrosoft Corp	$2.26M	0.76%	0.00%	-13.4%	Q4 2018
WMTWalmart Inc.	$2.12M	0.71%	0.00%	Not reported	Q4 2018
SCHWSchwab Charles Corp	$1.89M	0.63%	0.00%	+60.9%	Q4 2018
GOOGAlphabet Inc.	$1.6M	0.53%	Not reported	-3.2%	Q4 2018
BRK.ABerkshire Hathaway Inc	$1.51M	0.50%	Not reported	Not reported	Q1 2025
GOOGLAlphabet Inc.	$1.5M	0.50%	0.00%	-11.3%	Q1 2019
VOTVan Kampen Municipal Opportunity Trust II	$1.47M	0.49%	Not reported	-21.9%	Q4 2018
LLYELI LILLY & Co	$1.35M	0.45%	0.00%	+3.8%	Q4 2018
MDBMongoDB, Inc.	$1.33M	0.45%	0.01%	Not reported	Q2 2025
JPMJPMorgan Chase & Co	$1.33M	0.44%	0.00%	-56.4%	Q4 2018
TFXTeleflex Inc	$1.28M	0.43%	0.02%	Not reported	Q4 2018
PMPhilip Morris International Inc.	$1.23M	0.41%	0.00%	Not reported	Q4 2018
MCDMcdonalds Corp	$1.22M	0.41%	0.00%	-14.5%	Q2 2019
NFLXNetflix Inc	$1.2M	0.40%	0.00%	-0.5%	Q4 2018
GSGoldman Sachs Group Inc	$1.13M	0.38%	0.00%	-6.9%	Q2 2019
VYMDelaware Investments Minnesota Municipal Income Fund III Inc	$1.1M	0.37%	Not reported	Not reported	Q4 2023
KOCoca Cola Co	$1.09M	0.36%	0.00%	-24.5%	Q4 2018
JNJJohnson & Johnson	$1.03M	0.35%	0.00%	-3.5%	Q4 2018
ECLEcolab Inc.	$1.03M	0.35%	0.00%	Not reported	Q2 2019
ALABAstera Labs, Inc.	$1.01M	0.34%	0.00%	Not reported	Q2 2025
HDHome Depot, Inc.	$808K	0.27%	0.00%	Not reported	Q4 2018
PHParker-Hannifin Corp	$785K	0.26%	0.00%	Not reported	Q2 2021
BXBlackstone Inc.	$776K	0.26%	0.00%	+0.3%	Q4 2018
BNBROOKFIELD Corp	$720K	0.24%	Not reported	Not reported	Q4 2022
BRWSaba Capital Income & Opportunities Fund	$691K	0.23%	Not reported	-10.8%	Q2 2021
XOMExxonMobil Holdings Corp	$648K	0.22%	0.00%	-11.9%	Q4 2018
SPOTSpotify Technology S.A.	$600K	0.20%	0.00%	Not reported	Q4 2018
CSGSCSG Systems International Inc	$579K	0.19%	0.03%	Not reported	Q4 2018
OKEOneok Inc	$575K	0.19%	0.00%	Not reported	Q2 2019
AEPAmerican Electric Power Co Inc	$571K	0.19%	0.00%	Not reported	Q1 2019
PPGPPG Industries Inc	$547K	0.18%	0.00%	Not reported	Q2 2019
QCOMQualcomm Inc	$535K	0.18%	0.00%	Not reported	Q4 2018
OBDCBlue Owl Capital Corp	$503K	0.17%	0.01%	Not reported	Q1 2022
RYAMRayonier Advanced Materials Inc.	$478K	0.16%	0.10%	New	Q3 2025
OPPRiverNorth/DoubleLine Strategic Opportunity Fund, Inc.	$470K	0.16%	Not reported	-13.7%	Q2 2022
TRSTrimas Corp	$444K	0.15%	0.03%	Not reported	Q2 2019
EPDEnterprise Products Partners L.P.	$438K	0.15%	0.00%	-4.3%	Q3 2019
TYGTortoise Energy Infrastructure Corp	$421K	0.14%	Not reported	Not reported	Q1 2020
SLRCSLR Investment Corp.	$421K	0.14%	0.05%	Not reported	Q1 2020

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