13F HOLDINGS REPORT

Next Capital Management LLC

Quarter ended Q1 2025 · Filed May 6, 2025 · Accession 0001437749-25-014677

Total Value

$208.5M

Positions

118

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (118)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	ISHARES CORE S&P 500 ETF	464287200	58,585	$32.9M	15.79%
2	INVESCO QQQ TRUST	IVZ	21,771	$10.2M	4.90%
3	META PLATFORMS INC CLASS A	META	16,613	$9.6M	4.59%
4	APPLE INC	AAPL	41,993	$9.3M	4.47%
5	ISHARES CORE MSCI EAFE ETF	46432F842	104,411	$7.9M	3.79%
6	AMAZON.COM INC	AMZN	39,145	$7.4M	3.57%
7	VANGUARD TOTAL STOCK MARKET ETF	922908769	26,136	$7.2M	3.45%
8	ISHARES RUSSELL 1000 GROWTH ETF	464287614	18,352	$6.6M	3.18%
9	GOLUB CAP BDC INC	38173M102	342,953	$5.2M	2.49%
10	ISHARES S&P 500 GROWTH ETF	464287309	46,701	$4.3M	2.08%
11	VANGUARD S&P 500 ETF	922908363	8,040	$4.1M	1.98%
12	ISHARES CORE MSCI EMERGING ETF	46434G103	74,106	$4.0M	1.92%
13	BERKSHIRE HATHAWAY CLASS B	BRK-A	7,386	$3.9M	1.89%
14	ISHARES RUSSELL 1000 VALUE ETF	464287598	20,579	$3.9M	1.86%
15	ISHARES CORE S&P MID CAPETF	464287507	64,521	$3.8M	1.81%
16	ISHARES CORE S&P SMALL CAP ETF	464287804	34,873	$3.6M	1.75%
17	SPDR S&P 500 ETF	SPY	5,887	$3.3M	1.58%
18	SELECT SECTOR HEALTH CARE SPDR ETF	81369Y209	21,955	$3.2M	1.54%
19	SCHWAB US SMALL CAP ETF	808524607	118,714	$2.8M	1.33%
20	SCHWAB US LARGE CAP ETF	808524201	120,076	$2.7M	1.27%
21	VANGUARD DIVIDEND APPRECIATION ETF	921908844	13,342	$2.6M	1.24%
22	MIDCAP FINL INVESTME	03761U502	169,085	$2.2M	1.04%
23	KKR & CO INC	KKRT	17,387	$2.0M	0.96%
24	JPMORGAN ULTRA SHORT INCOME ETF	46641Q837	39,151	$2.0M	0.95%
25	VANGUARD GROWTH ETF	922908736	4,894	$1.8M	0.87%
26	WALMART INC	WMT	20,600	$1.8M	0.87%
27	ISHARES RUSSELL 1000 ETF	464287622	5,845	$1.8M	0.86%
28	KRANESHARES CSI CHINA INTERNET ETF	500767306	49,020	$1.7M	0.82%
29	BERKSHIRE HATHAWAY INC DCLASS A	BRK-A	2	$1.6M	0.77%
30	VANGUARD MID CAP GROWTH ETF	922908538	6,430	$1.6M	0.75%
31	SELECT STR FINANCIAL SELECT SPDR ETF	81369Y605	31,153	$1.6M	0.74%
32	INVESCO NASDAQ 100 ETF	IVZ	7,827	$1.5M	0.72%
33	SCHWAB FUNDMNTL US LARGECOM ETF	808524771	63,626	$1.5M	0.72%
34	VANGUARD INFORMATION TECHNOLOGY ETF	92204A702	2,755	$1.5M	0.72%
35	MICROSOFT CORP	MSFT	3,818	$1.4M	0.69%
36	ISHARES MSCI EMERGING MARKETS ETF	464287234	32,769	$1.4M	0.69%
37	NVIDIA CORP	NVDA	12,589	$1.4M	0.65%
38	THE COCA-COLA CO	KO	17,646	$1.3M	0.61%
39	MCDONALDS CORP	MCD	4,027	$1.3M	0.60%
40	CHARLES SCHWAB CORP	SCHW-PJ	15,982	$1.3M	0.60%
41	ISHARES CORE S&P US VALUE ETF	464287663	13,293	$1.2M	0.59%
42	PHILIP MORRIS INTL INC	718172109	7,342	$1.2M	0.56%
43	VANGUARD LARGE CAP ETF	922908637	4,490	$1.2M	0.55%
44	TELEFLEX INC	TFX	7,880	$1.1M	0.52%
45	ECOLAB INC	ECL	4,230	$1.1M	0.51%
46	SCHWAB US DIVIDEND EQUITY ETF	808524797	38,290	$1.1M	0.51%
47	ISHARES HIGH YIELD CORPORAT BOND ETF	46434V407	24,600	$1.0M	0.50%
48	VANGUARD HIGH DIVIDEND YIELD ETF	921946406	7,778	$1.0M	0.48%
49	ISHARES RUSSELL MID CAP GROWTH ETF	464287481	7,943	$933,225	0.45%
50	ISHARES RUSSELL 2000 ETF	464287655	4,594	$916,418	0.44%
51	NETFLIX INC	NFLX	943	$879,376	0.42%
52	AMERICAN ELEC PWR CO INC	025537101	8,028	$877,236	0.42%
53	CBIZ INC	CBZ	11,000	$834,460	0.40%
54	TECHNOLOGY SELECT SECTORSPDR ETF	81369Y803	3,814	$787,515	0.38%
55	ONEOK INC NEW	OKE	7,880	$781,854	0.38%
56	ISHARES MSCI EAFE ETF	464287465	9,057	$740,229	0.36%
57	ELI LILLY AND CO	LLY	890	$735,060	0.35%
58	FIRST TRUST NORTH AMERICAN ENERG ETF	33738D101	19,345	$725,244	0.35%
59	JPMORGAN CHASE & CO	VYLD	2,910	$713,712	0.34%
60	SCHWAB US BROAD MARKET ETF	808524102	32,829	$706,804	0.34%
61	EXXON MOBIL CORP	XOM	5,783	$687,772	0.33%
62	HOME DEPOT INC	HD	1,854	$679,472	0.33%
63	VANGUARD FTSE DEVELOPED MARKETS ETF	921943858	12,643	$642,644	0.31%
64	PARKER-HANNIFIN CORP	PH	1,035	$629,125	0.30%
65	GOLDMAN SACHS GROUP INC	GSCE	1,142	$623,863	0.30%
66	VANGUARD FTSE EMERGING MARKETS ETF	922042858	12,790	$578,866	0.28%
67	BLUE OWL CAP CORP	OWL	39,363	$577,062	0.28%
68	ALPHABET INC CLASS C	GOOG	3,679	$574,770	0.28%
69	PPG INDS INC	693506107	5,204	$569,057	0.27%
70	ISHARES MSCI ACWI EX US ETF	464288240	9,959	$552,227	0.26%
71	BROOKFIELD CORP FCLASS A	11271J107	10,500	$550,305	0.26%
72	CSG SYS INTL INC	126349109	9,000	$544,230	0.26%
73	VANECK GOLD MINERS ETF	92189F106	11,752	$540,239	0.26%
74	BLACKSTONE INC	BX	3,810	$532,618	0.26%
75	ENTERPRISE PRODS PART LP	293792107	14,293	$487,963	0.23%
76	QUALCOMM INC	QCOM	3,116	$478,649	0.23%
77	SPOTIFY TECHNOLOGY S A F	SPOT	860	$473,026	0.23%
78	COMCAST CORP NEW CLASS A	CCZ	12,726	$469,589	0.23%
79	ALPHABET INC CLASS A	GOOG	3,027	$468,095	0.22%
80	SLR INVESTMENT CORP	SLRC	27,520	$463,987	0.22%
81	JOHNSON & JOHNSON	JNJ	2,654	$440,139	0.21%
82	VANGUARD VALUE ETF	922908744	2,511	$433,750	0.21%
83	NORTHROP GRUMMAN CORP	NOC	821	$420,360	0.20%
84	BLACKROCK TCP CAP CORP	TCPC	50,858	$407,373	0.20%
85	MERCK & CO. INC.	MRK	4,367	$391,982	0.19%
86	ISHARES MICRO CAP ETF	464288869	3,123	$346,372	0.17%
87	PFIZER INC	PFE	13,425	$340,177	0.16%
88	LENNOX INTL INC	526107107	587	$329,207	0.16%
89	ABBVIE INC	ABBV	1,570	$328,946	0.16%
90	WILLAMETTE VY VINEYARD I	969136100	54,800	$325,512	0.16%
91	PROCTER & GAMBLE CO	742718109	1,869	$318,515	0.15%
92	INVESCO S&P 500 QUALITY ETF	IVZ	4,608	$305,695	0.15%
93	MAYS J W INC	MAYS	7,326	$280,073	0.13%
94	INVESCO S&P 500 EQUAL WEIGHT ETF	IVZ	1,610	$278,866	0.13%
95	WILLIAMS COS INC	969457100	4,645	$277,585	0.13%
96	ALTRIA GROUP INC	MO	4,576	$274,652	0.13%
97	XTRACKERS MSCI EAFE HEDGED EQUITY ET	233051200	6,331	$274,132	0.13%
98	VANGUARD TOTAL WORLD STOCK ETF	922042742	2,363	$274,048	0.13%
99	HONEYWELL INTL INC	438516106	1,282	$271,464	0.13%
100	ISHARES US ENERGY ETF	464287796	5,500	$271,150	0.13%
101	TRIMAS CORP	TRS	11,500	$269,445	0.13%
102	UNITEDHEALTH GROUP INC	UNH	514	$269,208	0.13%
103	ISHARES MSCI GERMANY ETF	464286806	7,175	$266,049	0.13%
104	TRAVELERS COS INC	TRV	1,004	$265,518	0.13%
105	MONDELEZ INTL INC CLASS A	609207105	3,656	$248,060	0.12%
106	VISA INC CLASS A	V	683	$239,516	0.11%
107	BOOKING HLDGS INC	BKNG	51	$234,952	0.11%
108	SCHWAB STRATEGI/US MID-CAP ETF	808524508	8,097	$212,139	0.10%
109	ISHARES S&P SMALL CAP 600 ETF	464287879	2,098	$204,513	0.10%
110	CHEVRON CORP NEW	CVX	1,213	$202,962	0.10%
111	PARAMOUNT GLOBAL B MERGER ELECTION EXP: 04/03/25	92556H206	15,550	$185,978	0.09%
112	ENERGY TRANSFER L P LP	ET-PI	8,708	$161,882	0.08%
113	WISE PLC ORDF	G97229101	11,116	$135,946	0.07%
114	ERMENEGILDO ZEGNA N V F	ZGN	18,275	$135,235	0.06%
115	SONY GROUP CORP FSPONSORED ADR 1 ADR REPS 1 ORD SHS	SNEJF	3,685	$93,562	0.04%
116	E2OPEN PARENT HLDGS INC CLASS A	29788T103	14,587	$29,174	0.01%
117	CRITICAL METALS CORP. F	CRTMF	19,982	$27,775	0.01%
118	CYTODYN INC	CYDY	32,500	$7,474	0.00%