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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
WMB icon
101
Williams Companies
WMB
$91.4B
$338K 0.1%
4,645
– –
RSP icon
102
Invesco S&P 500 Equal Weight ETF
RSP
$97.2B
$323K 0.1%
1,683
-22
-1% -$4.36K
PSX icon
103
Phillips 66
PSX
$80.7B
$317K 0.1%
1,738
– –
SCHM icon
104
Schwab US Mid-Cap ETF
SCHM
$14.6B
$315K 0.1%
10,176
+7
+0.1% +$223
DBEF icon
105
Xtrackers MSCI EAFE Hedged Equity ETF
DBEF
$9.03B
$313K 0.09%
6,331
– –
COF icon
106
Capital One
COF
$131B
$304K 0.09%
1,668
-588
-26% -$123K
MAYS icon
107
J.W. Mays
MAYS
$76.6M
$293K 0.09%
7,326
– –
GLW icon
108
Corning
GLW
$136B
$272K 0.08%
+2,000
New +$241K
OWL icon
109
Blue Owl Capital
OWL
$6.5B
$265K 0.08%
+29,006
New +$351K
ILOW
110
AB International Low Volatility Equity ETF
ILOW
$1.81B
$257K 0.08%
6,013
– –
XBI icon
111
State Street SPDR S&P Biotech ETF
XBI
$10.3B
$255K 0.08%
2,000
– –
TRV icon
112
Travelers Companies
TRV
$71.8B
$251K 0.08%
860
-145
-14% -$42.5K
MO icon
113
Altria Group
MO
$122B
$243K 0.07%
+3,683
New +$237K
WULF icon
114
TeraWulf
WULF
$8.91B
$235K 0.07%
16,280
+5,755
+55% +$85.3K
VO icon
115
Vanguard Mid-Cap ETF
VO
$106B
$232K 0.07%
3,236
+4
+0.1% +$297
NMFC icon
116
New Mountain Finance
NMFC
$683M
$230K 0.07%
29,680
– –
AIQ icon
117
Global X Artificial Intelligence & Technology ETF
AIQ
$9.44B
$226K 0.07%
4,848
– –
SERV
118
Serve Robotics
SERV
$448M
$223K 0.07%
26,425
+10,000
+61% +$108K
HD icon
119
Home Depot
HD
$347B
$222K 0.07%
+675
New +$246K
MGM icon
120
MGM Resorts International
MGM
$12B
$214K 0.06%
5,780
+30
+0.5% +$1.07K
AMRZ
121
Amrize Ltd
AMRZ
$28.3B
$210K 0.06%
3,750
– –
MRK icon
122
Merck
MRK
$315B
$209K 0.06%
+1,739
New +$201K
WEC icon
123
WEC Energy
WEC
$37.3B
$209K 0.06%
+1,806
New +$203K
MA icon
124
Mastercard
MA
$487B
$205K 0.06%
+411
New +$216K
SCHF icon
125
Schwab International Equity ETF
SCHF
$65.7B
$203K 0.06%
+8,191
New +$208K
2 3 4
5
6

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PWM
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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.