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Next Capital Management Portfolio holdings

AUM $330M
1-Year Est. Return 11.54%
This Fund
S&P 500
This Quarter Est. Return
-5.48%
1 Year Est. Return
+11.54%
3 Year Est. Return
+56.12%
5 Year Est. Return
+59.28%
10 Year Est. Return
–
AUM
$330M
AUM Growth
+$17.8M
Cap. Flow
+$38.1M
Cap. Flow %
11.55%
Top 10 Hldgs %
48.16%
Holding
151
New
15
Increased
60
Reduced
24
Closed
17

Top Buys

1
OBDC icon
Blue Owl Capital
OBDC
+$14.3M
2
MFIC icon
MidCap Financial Investment
MFIC
+$4.27M
3
GBDC icon
Golub Capital BDC
GBDC
+$4.14M
4
KKR icon
KKR & Co
KKR
+$2.9M
5
APO icon
Apollo Global Management
APO
+$2.49M

Top Sells

1
BRK.A icon
Berkshire Hathaway Class A
BRK.A
+$1.51M
2
TFX icon
Teleflex
TFX
+$1.27M
3
QQQ icon
Invesco QQQ Trust
QQQ
+$810K
4
CSGS
CSG Systems International
CSGS
+$690K
5
BIZD icon
VanEck BDC Income ETF
BIZD
+$652K

Sector Composition

1 Financials 22.98%
2 Technology 5.22%
3 Communication Services 4.26%
4 Consumer Discretionary 3.09%
5 Healthcare 1.14%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HON icon
76
Honeywell
HON
$70.6B
$588K 0.18%
2,602
+610
+31% +$139K
VWO icon
77
Vanguard FTSE Emerging Markets ETF
VWO
$121B
$579K 0.18%
10,720
+772
+8% +$43.2K
NFLX icon
78
Netflix
NFLX
$313B
$571K 0.17%
5,939
-586
-9% -$51.6K
RYAM icon
79
Rayonier Advanced Materials
RYAM
$550M
$569K 0.17%
51,422
-30,823
-37% -$278K
ALAB icon
80
Astera Labs
ALAB
$54.8B
$568K 0.17%
5,182
– –
PM icon
81
Philip Morris
PM
$296B
$559K 0.17%
+3,380
New +$587K
EPD icon
82
Enterprise Products Partners
EPD
$82.2B
$543K 0.16%
14,348
+355
+3% +$12.6K
IWS icon
83
iShares Russell Mid-Cap Value ETF
IWS
$15.8B
$541K 0.16%
3,712
+1,466
+65% +$218K
PPG icon
84
PPG Industries
PPG
$26.5B
$538K 0.16%
5,037
-92
-2% -$10.4K
IWC icon
85
iShares Micro-Cap ETF
IWC
$1.46B
$498K 0.15%
3,123
– –
TYG
86
Tortoise Energy Infrastructure Corp
TYG
$1.11B
$487K 0.15%
9,770
– –
GEV icon
87
GE Vernova
GEV
$278B
$442K 0.13%
506
-5
-1% -$3.9K
ILMN icon
88
Illumina
ILMN
$28.8B
$441K 0.13%
3,578
– –
SPOT icon
89
Spotify
SPOT
$97.9B
$439K 0.13%
906
+46
+5% +$23.1K
IXUS icon
90
iShares Core MSCI Total International Stock ETF
IXUS
$57.9B
$430K 0.13%
4,962
– –
OPP
91
RiverNorth/DoubleLine Strategic Opportunity Fund
OPP
$193M
$423K 0.13%
55,109
– –
QCOM icon
92
Qualcomm
QCOM
$180B
$421K 0.13%
3,269
+24
+0.7% +$3.5K
TRS icon
93
TriMas Corp
TRS
$1.47B
$413K 0.13%
11,500
– –
SLRC icon
94
SLR Investment Corp
SLRC
$725M
$394K 0.12%
27,520
– –
CAT icon
95
Caterpillar
CAT
$404B
$379K 0.11%
535
– –
DXJ icon
96
WisdomTree Japan Hedged Equity Fund
DXJ
$7.2B
$373K 0.11%
+2,350
New +$371K
IWN icon
97
iShares Russell 2000 Value ETF
IWN
$14.5B
$360K 0.11%
+1,898
New +$367K
IYE icon
98
iShares US Energy ETF
IYE
$1.68B
$356K 0.11%
5,500
– –
VT icon
99
Vanguard Total World Stock ETF
VT
$77.2B
$351K 0.11%
2,539
+175
+7% +$25.2K
ARKG icon
100
ARK Genomic Revolution ETF
ARKG
$1.62B
$345K 0.1%
13,046
– –
2 3
4
5 6

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APWM
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PWM
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BAM
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Next Capital Management's Q1 2026 Portfolio in Review

As of Q1 2026, Next Capital Management held 151 positions worth $330M, up 5.7% from $312M the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Next Capital Management deployed $38.1M of net new capital in Q1 2026, opening 15 new positions and adding to 60 existing holdings. Its largest new stake was Salesforce: 11,350 shares worth $2.12M.

By sector, the portfolio is most concentrated in Financials at 23% of assets, up from 17% a quarter earlier, followed by Technology and Communication Services.

On the sell side, the largest reduction was Invesco QQQ Trust, an estimated $810K trimmed.

  • Next Capital Management's largest Q1 2026 buy was Salesforce: 11,350 shares worth $2.12M.
  • Next Capital Management added most to Blue Owl Capital in Q1 2026, an estimated $14.3M increase.
  • Next Capital Management's biggest Q1 2026 reduction was Invesco QQQ Trust, cutting an estimated $810K.
  • Next Capital Management fully exited Berkshire Hathaway Class A in Q1 2026, selling an estimated $1.51M.
  • Next Capital Management's ten largest holdings make up 48% of its $330M portfolio in Q1 2026.
  • Next Capital Management opened 15 new positions and closed 17 in Q1 2026.
  • Next Capital Management's portfolio value rose 5.7% quarter-over-quarter to $330M.

Based on Next Capital Management's 13F filing for Q1 2026, filed 7 May 2026.