Next Capital Management LLC

CIK

1752762

Location

NEW YORK, NY

Portfolio Value

Small $148,801,753

Diversification

Diversified

Filing Date

Global Rank

#4,523 / 8,232 ▲ 562

Top Industry

Asset Management 52.0%

3Y Alpha vs SPY

-3.4%

Period ended 2 months ago

Filed May 7, 2026 · 38d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+61.9%

SPY

+76.3%

Annualised alpha

-3.4%

Max drawdown

−21.0%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

75 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

14.1%

+1.1 pts

Top 5

46.1%

−4.7 pts

Top 10

67.4%

−2.0 pts

HHI

599

Diversified−39

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	52.1%	$77,507,754	25
Technology	11.6%	$17,240,759	8
Unclassified	11.3%	$16,843,314	3
Communication Services	8.2%	$12,254,405	4
Consumer Cyclical	6.9%	$10,195,295	7
Healthcare	2.5%	$3,775,749	7
Energy	1.9%	$2,882,892	5
Industrials	1.7%	$2,558,443	5
Consumer Defensive	1.5%	$2,205,992	4
Basic Materials	1.4%	$2,095,778	4
Utilities	0.6%	$949,944	2
Real Estate	0.2%	$291,428	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
OBDC	Blue Owl Capital Corp	+1,219,235	1,418,819	$15,692,138
MFIC	MidCap Financial Investment Corp	+387,303	1,871,652	$21,037,368
TCPC	BlackRock TCP Capital Corp.	+366,008	3,049,547	$11,008,864
GBDC	GOLUB CAPITAL BDC, Inc.	+322,992	567,205	$7,180,815
KKR	KKR & Co. Inc.	+27,498	47,771	$4,418,817
APO	Apollo Global Management, Inc.	+20,104	21,863	$2,435,975
ACHV	Achieve Life Sciences, Inc.	+18,865	34,995	$102,885
BX	Blackstone Inc.	+17,762	22,322	$2,566,806
SERV	Serve Robotics Inc. /DE/	+10,000	26,425	$223,027
WULF	Terawulf Inc.	+5,755	16,280	$234,920
MSFT	Microsoft Corp	+1,441	5,653	$2,092,571
HON	Honeywell International Inc	+610	2,602	$588,130
SCHW	Schwab Charles Corp	+600	16,923	$1,590,423
AEP	American Electric Power Co Inc	+577	5,652	$740,864
SPY	Spdr S&P 500 ETF Trust	+564	6,759	$4,395,648
EPD	Enterprise Products Partners L.P.	+355	14,348	$542,928
KO	Coca Cola Co	+225	16,611	$1,263,266
JPM	Jpmorgan Chase & Co	+222	3,293	$968,668
XOM	Exxon Mobil Corp	+190	5,735	$973,000
MDB	MongoDB, Inc.	+173	4,385	$1,073,316
GOOGL	Alphabet Inc.	+164	6,679	$1,920,613
GS	Goldman Sachs Group Inc	+120	1,535	$1,298,594
BRK-B	Berkshire Hathaway Inc	+63	8,352	$4,002,278
SPOT	Spotify Technology S.A.	+46	906	$439,328
MGM	MGM Resorts International	+30	5,780	$213,917
No positions match the current search.

Trimmed

Positions the filer reduced

15 positions

Ticker	Company	Δ Shares	Shares	Value
RYAM	Rayonier Advanced Materials Inc.	−30,823	51,422	$569,241
CYDY	CytoDyn Inc.	−7,500	25,000	$6,750
JFR	Nuveen Floating Rate Income Fund	−6,456	23,402	$175,983
AMZN	Amazon Com Inc	−2,538	42,650	$8,882,715
NVDA	Nvidia Corp	−2,338	22,584	$3,938,649
AAPL	Apple Inc.	−1,723	26,623	$6,756,651
QQQ	Invesco Qqq Trust, Series 1	−1,333	20,091	$11,596,123
ECL	Ecolab Inc.	−730	2,925	$778,108
COF	Capital One Financial Corp	−588	1,668	$304,293
NFLX	Netflix Inc	−586	5,939	$571,034
META	Meta Platforms, Inc.	−315	16,296	$9,323,430
TRV	Travelers Companies, Inc.	−145	860	$250,844
PPG	Ppg Industries Inc	−92	5,037	$538,354
JNJ	Johnson & Johnson	−62	5,530	$1,351,753
GEV	GE Vernova Inc.	−5	506	$441,687
No positions match the current search.

New Positions

Positions the filer opened this quarter

11 positions

Ticker	Company	Shares	Value
CRM	Salesforce, Inc.	11,350	$2,118,704
TPG	TPG Inc.	25,978	$1,052,368
GLD	Spdr Gold Trust	1,979	$851,543
PM	Philip Morris International Inc.	3,380	$558,849
GLW	Corning Inc /Ny	2,000	$271,940
OWL	Blue Owl Capital Inc.	29,006	$264,824
MO	Altria Group, Inc.	3,683	$243,041
HD	Home Depot, Inc.	675	$222,000
MRK	Merck & Co., Inc.	1,739	$209,184
WEC	Wec Energy Group, Inc.	1,806	$209,080
MA	Mastercard Inc	411	$205,360
No positions match the current search.

Sold Out

Positions the filer fully exited

11 positions

Ticker	Company	Shares	Value
TFX	Teleflex Inc	10,423	$1,272,022
CSGS	Csg Systems International Inc	9,000	$690,210
CMCSA	Comcast Corp	10,928	$306,127
SLV	iShares Silver Trust	4,585	$295,365
PLTR	Palantir Technologies Inc.	1,578	$280,489
LII	Lennox International Inc	563	$273,381
CBZ	CBIZ, Inc.	4,500	$227,025
V	Visa Inc.	603	$211,478
ABBV	AbbVie Inc.	889	$203,127
BDX	Becton Dickinson & Co	1,164	$177,592
DCGO	DocGo Inc.	15,000	$13,170
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

75 positions · $148,801,753 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 75 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
MFIC	MidCap Financial Investment Corp Financial Services	Added	1,871,652	+387,303	$21,037,368	+23.9%	14.14%
OBDC	Blue Owl Capital Corp Financial Services	Added	1,418,819	+1,219,235	$15,692,138	+532.5%	10.55%
QQQ	Invesco Qqq Trust, Series 1	Reduced	20,091	-1,333	$11,596,123	−11.9%	7.79%
TCPC	BlackRock TCP Capital Corp. Financial Services	Added	3,049,547	+366,008	$11,008,864	−25.0%	7.40%
META	Meta Platforms, Inc. Communication Services	Reduced	16,296	-315	$9,323,430	−15.0%	6.27%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	42,650	-2,538	$8,882,715	−14.8%	5.97%
GBDC	GOLUB CAPITAL BDC, Inc. Financial Services	Added	567,205	+322,992	$7,180,815	+116.7%	4.83%
AAPL	Apple Inc. Technology	Reduced	26,623	-1,723	$6,756,651	−12.3%	4.54%
KKR	KKR & Co. Inc. Financial Services	Added	47,771	+27,498	$4,418,817	+71.0%	2.97%
SPY	Spdr S&P 500 ETF Trust	Added	6,759	+564	$4,395,648	+4.1%	2.95%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	8,352	+63	$4,002,278	−3.9%	2.69%
NVDA	Nvidia Corp Technology	Reduced	22,584	-2,338	$3,938,649	−15.3%	2.65%
BX	Blackstone Inc. Financial Services	Added	22,322	+17,762	$2,566,806	+265.2%	1.72%
APO	Apollo Global Management, Inc. Financial Services	Added	21,863	+20,104	$2,435,975	+856.7%	1.64%
CRM	Salesforce, Inc. Technology	NEW	11,350	NEW	$2,118,704	NEW	1.42%
MSFT	Microsoft Corp Technology	Added	5,653	+1,441	$2,092,571	+2.7%	1.41%
GOOGL	Alphabet Inc. Communication Services	Added	6,679	+164	$1,920,613	−5.8%	1.29%
LLY	ELI LILLY & Co Healthcare	Held	1,768	0	$1,626,153	−14.4%	1.09%
SCHW	Schwab Charles Corp Financial Services	Added	16,923	+600	$1,590,423	−2.5%	1.07%
JNJ	Johnson & Johnson Healthcare	Reduced	5,530	-62	$1,351,753	+16.8%	0.91%
GS	Goldman Sachs Group Inc Financial Services	Added	1,535	+120	$1,298,594	+4.4%	0.87%
KO	Coca Cola Co Consumer Defensive	Added	16,611	+225	$1,263,266	+10.3%	0.85%
MDB	MongoDB, Inc. Technology	Added	4,385	+173	$1,073,316	−39.3%	0.72%
TPG	TPG Inc. Financial Services	NEW	25,978	NEW	$1,052,368	NEW	0.71%
XOM	Exxon Mobil Corp Energy	Added	5,735	+190	$973,000	+45.8%	0.65%
JPM	Jpmorgan Chase & Co Financial Services	Added	3,293	+222	$968,668	−2.1%	0.65%
PH	Parker-Hannifin Corp Industrials	Held	1,035	0	$926,573	+1.9%	0.62%
GLD	Spdr Gold Trust	NEW	1,979	NEW	$851,543	NEW	0.57%
ECL	Ecolab Inc. Basic Materials	Reduced	2,925	-730	$778,108	−18.9%	0.52%
AEP	American Electric Power Co Inc Utilities	Added	5,652	+577	$740,864	+26.6%	0.50%
OKE	Oneok Inc /New/ Energy	Held	7,880	0	$712,273	+23.0%	0.48%
BN	BROOKFIELD Corp /ON/ Financial Services	Held	15,750	0	$637,402	−11.8%	0.43%
BRW	Saba Capital Income & Opportunities Fund Financial Services	Held	88,927	0	$599,367	−3.9%	0.40%
HON	Honeywell International Inc Industrials	Added	2,602	+610	$588,130	+51.3%	0.40%
NFLX	Netflix Inc Communication Services	Reduced	5,939	-586	$571,034	−6.7%	0.38%
RYAM	Rayonier Advanced Materials Inc. Basic Materials	Reduced	51,422	-30,823	$569,241	+17.5%	0.38%
ALAB	Astera Labs, Inc. Technology	Held	5,182	0	$567,947	−34.1%	0.38%
PM	Philip Morris International Inc. Consumer Defensive	NEW	3,380	NEW	$558,849	NEW	0.38%
EPD	Enterprise Products Partners L.P. Energy	Added	14,348	+355	$542,928	+21.0%	0.36%
PPG	Ppg Industries Inc Basic Materials	Reduced	5,037	-92	$538,354	+2.4%	0.36%
TYG	Tortoise Energy Infrastructure Corp Financial Services	Held	9,770	0	$487,034	+21.9%	0.33%
GEV	GE Vernova Inc. Industrials	Reduced	506	-5	$441,687	+32.3%	0.30%
ILMN	Illumina, Inc. Healthcare	Held	3,578	0	$441,024	−6.0%	0.30%
SPOT	Spotify Technology S.A. Communication Services	Added	906	+46	$439,328	−12.0%	0.30%
OPP	RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. Financial Services	Held	55,109	0	$422,686	−3.5%	0.28%
QCOM	Qualcomm Inc/De Technology	Added	3,269	+24	$420,981	−24.2%	0.28%
TRS	Trimas Corp Consumer Cyclical	Held	11,500	0	$413,310	+1.4%	0.28%
SLRC	SLR Investment Corp. Financial Services	Held	27,520	0	$393,811	−7.4%	0.26%
CAT	Caterpillar Inc Industrials	Held	535	0	$379,026	+23.7%	0.25%
WMB	Williams Companies, Inc. Energy	Held	4,645	0	$338,063	+21.1%	0.23%