Institutional Manager · CIK 0001752762
Next Capital Management LLC
NEW YORK, NY · File #028-19131
Latest AUM
$312.3M
Positions
136
Top-10 Concentration
57.3%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| ADD | iShares Core MSCI Emerging ETF | 46434G103 | +35,650 | +$2.4M | +$138,820 |
| EXITED | WALMART INC | 931142103 | -20,600 | -$2.1M | $0 |
| ADD | BLUE OWL CAP CORP | OWL | +160,221 | +$2.0M | -$11,877 |
| ADD | ISHARES S&P 500 GROWTH ETF | 464287309 | +14,819 | +$1.8M | +$128,363 |
| ADD | MIDCAP FINL INVESTME | 03761U502 | +142,764 | +$1.6M | -$737,874 |
| ADD | BLACKROCK TCP CAP CORP | TCPC | +282,123 | +$1.5M | -$1.8M |
| EXITED | PHILIP MORRIS INTL INC | 718172109 | -7,588 | -$1.2M | $0 |
| EXITED | MCDONALDS CORP | 580135101 | -4,007 | -$1.2M | $0 |
| ADD | ISHARES RUSSELL 1000 GROWTH ETF | 464287614 | +2,246 | +$1.1M | +$93,648 |
| REDUCE | CHARLES SCHWAB CORP | SCHW-PJ | -10,517 | -$1.1M | +$787,741 |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 2025136 pos · $312.3M
- 13F HOLDINGS REPORTQ/E Sep 2025139 pos · $299.6M
- 13F HOLDINGS REPORTQ/E Jun 2025137 pos · $270.6M
- 13F HOLDINGS REPORTQ/E Mar 2025118 pos · $208.5M
- 13F HOLDINGS REPORTQ/E Dec 2024141 pos · $247.1M
- 13F HOLDINGS REPORTQ/E Sep 2024139 pos · $245.1M
- 13F HOLDINGS REPORTQ/E Jun 2024139 pos · $239.0M
- 13F HOLDINGS REPORTQ/E Mar 2024145 pos · $247.7M
- 13F HOLDINGS REPORTQ/E Dec 2023115 pos · $223.2M
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | ISHARES CORE S&P 500 ETF | 464287200 | 69,834 | $47.8M | 17.46% |
| 2 | MIDCAP FINL INVESTME | 03761U502 | 1,484,349 | $17.0M | 6.20% |
| 3 | BLACKROCK TCP CAP CORP | TCPC | 2,683,539 | $14.7M | 5.36% |
| 4 | INVSC QQQ TRUST SRS 1 ETF | IVZ | 21,424 | $13.2M | 4.80% |
| 5 | ISHARES CORE MSCI EAFE ETF | 46432F842 | 146,055 | $13.1M | 4.77% |
| 6 | META PLATFORMS INC CLASS A | META | 16,611 | $11.0M | 4.00% |
| 7 | AMAZON.COM INC | AMZN | 45,188 | $10.4M | 3.81% |
| 8 | ISHARES RUSSELL 1000 GROWTH ETF | 464287614 | 21,471 | $10.2M | 3.71% |
| 9 | VANGUARD TOTAL STOCK MARKET ETF | 922908769 | 30,174 | $10.1M | 3.69% |
| 10 | iShares Core MSCI Emerging ETF | 46434G103 | 142,425 | $9.6M | 3.49% |
| 11 | ISHARES S&P 500 GROWTH ETF | 464287309 | 65,367 | $8.1M | 2.94% |
| 12 | APPLE INC | AAPL | 28,346 | $7.7M | 2.81% |
| 13 | ISHARES CORE S&P SMALL CAP ETF | 464287804 | 46,975 | $5.6M | 2.06% |
| 14 | ISHARES RUSSELL 1000 VALUE ETF | 464287598 | 25,679 | $5.4M | 1.97% |
| 15 | ISHARES CORE S&P MID CAPETF | 464287507 | 80,757 | $5.3M | 1.95% |
| 16 | VANGUARD S&P 500 ETF | 922908363 | 8,438 | $5.3M | 1.93% |
| 17 | NVIDIA CORP | NVDA | 24,922 | $4.6M | 1.70% |
| 18 | ISHARES RUSSELL 1000 ETF | 464287622 | 11,948 | $4.5M | 1.63% |
| 19 | SPDR S&P 500 ETF | SPY | 6,195 | $4.2M | 1.54% |
| 20 | BERKSHIRE HATHAWAY CLASS CLASS B | BRK-A | 8,289 | $4.2M | 1.52% |