Next Capital Management LLC

13F filer, CIK 1752762, NEW YORK, NY

Next Capital Management LLC reported $247,109,516 across 141 holdings for the quarter ended 2024-12-31, in a 13F-HR filed 2025-02-11. Its ten largest share positions make up 46.54% of the portfolio.

Filed 2025-02-11 (acceptance time not in the bulk data set), ingested 2026-10-07 18:25:55 UTC13F-HR 0001437749-25-003355

Period: 2024-12-31
Reported value: $247M
Holdings: 141
Top 10 weight: 46.54%
New: 17
Sold out: 12

Largest buys vs the previous quarter

Security	Shares change	Approx. value
SCHXadded	+99,882	$2.32M
SCHAadded	+60,772	$1.57M
FNDXadded	+36,958	$875K
XOMnew	+5,844	$629K
BNnew	+10,534	$605K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

Security	Shares change	Approx. value
GBDCreduced	-188,034	-$2.85M
XLVreduced	-16,456	-$2.26M
JFRreduced	-202,370	-$1.81M
BGXreduced	-97,331	-$1.21M
VNQreduced	-9,764	-$870K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2024

Share positions as resolved from 13F-HR 0001437749-25-003355, largest first. % of portfolio is the value over $243,313,420, the sum of the share positions whose value is usable for ratios (method).

Security	Shares	Value	% of portfolio	Change	Timeline
IVVISHARES TR	57,232	$33.7M	13.85%	+167	Timeline
QQQINVESCO QQQ TR	22,604	$11.6M	4.75%	-1,013	Timeline
AAPLAPPLE INC	44,546	$11.2M	4.58%	+976	Timeline
METAMETA PLATFORMS INC	19,010	$11.1M	4.57%	+231	Timeline
AMZNAMAZON COM INC	41,895	$9.19M	3.78%	+446	Timeline
GBDCGOLUB CAP BDC INC	583,876	$8.85M	3.64%	-188,034	Timeline
VTIVANGUARD INDEX FDS	29,967	$8.68M	3.57%	+693	Timeline
IEFAISHARES TR	102,167	$7.18M	2.95%	+2,808	Timeline
IWFISHARES TR	17,645	$7.09M	2.91%	+421	Timeline
IVWISHARES TR	46,295	$4.7M	1.93%	0	Timeline
VOOVANGUARD INDEX FDS	8,093	$4.36M	1.79%	+219	Timeline
IWBISHARES TR	13,058	$4.21M	1.73%	+109	Timeline
XLVSELECT SECTOR SPDR TR	29,800	$4.1M	1.68%	-16,456	Timeline
TSLATESLA INC	9,519	$3.84M	1.58%	-153	Timeline
IJRISHARES TR	33,232	$3.83M	1.57%	+2,752	Timeline
IWDISHARES TR	20,105	$3.72M	1.53%	+1,143	Timeline
IEMGISHARES INC	69,072	$3.61M	1.48%	+1,141	Timeline
BRK-BBERKSHIRE HATHAWAY INC DEL	7,740	$3.51M	1.44%	+91	Timeline
IJHISHARES TR	55,967	$3.49M	1.43%	+2,175	Timeline
SCHXSCHWAB STRATEGIC TR	148,716	$3.45M	1.42%	+99,882	Timeline
SCHASCHWAB STRATEGIC TR	122,198	$3.16M	1.3%	+60,772	Timeline
SPYSTATE STR SPDR S&P 500 ETF T	5,165	$3.03M	1.24%	-108	Timeline
VIGVANGUARD SPECIALIZED FUNDS	15,299	$3M	1.23%	+2	Timeline
VUGVANGUARD INDEX FDS	6,308	$2.59M	1.06%	0	Timeline
KKRKKR & CO INC	17,387	$2.57M	1.06%	0	Timeline
MFICMIDCAP FINANCIAL INVSTMNT CO	174,728	$2.36M	0.97%	-13,152	Timeline
VOTVANGUARD INDEX FDS	9,096	$2.31M	0.95%	+1,566	Timeline
JPSTJ P MORGAN EXCHANGE TRADED F	43,763	$2.2M	0.91%	+2,338	Timeline
WMTWALMART INC	22,853	$2.06M	0.85%	+1,161	Timeline
TFXTELEFLEX INCORPORATED	10,427	$1.86M	0.76%	+13	Timeline
MSFTMICROSOFT CORP	4,126	$1.74M	0.71%	+56	Timeline
VGTVANGUARD WORLD FD	2,755	$1.71M	0.7%	0	Timeline
NVDANVIDIA CORPORATION	12,495	$1.68M	0.69%	-1,850	Timeline
EEMISHARES TR	38,484	$1.61M	0.66%	+7,860	Timeline
GOOGALPHABET INC	7,862	$1.5M	0.62%	+789	Timeline
XLFSELECT SECTOR SPDR TR	29,868	$1.44M	0.59%	0	Timeline
KWEBKRANESHARES TRUST	49,170	$1.44M	0.59%	+150	Timeline
1/100 Berkshire Hath A1/100 Berkshire Hath A	200	$1.36M	0.56%	0
SCHWCHARLES SCHWAB CORP (THE)	18,342	$1.36M	0.56%	-10,054	Timeline
NFLXNETFLIX INC.	1,473	$1.31M	0.54%	+233	Timeline
MCDMCDONALDS CORP	4,472	$1.3M	0.53%	+176	Timeline
FNDXSCHWAB STRATEGIC TR	52,796	$1.25M	0.51%	+36,958	Timeline
AVBAVALONBAY CMNTYS INC	5,650	$1.24M	0.51%	0	Timeline
IUSVISHARES TR	13,195	$1.22M	0.5%	+164	Timeline
VVVANGUARD INDEX FDS	4,472	$1.21M	0.5%	+43	Timeline
ECLECOLAB INC	4,863	$1.14M	0.47%	+313	Timeline
KOCOCA COLA CO	17,656	$1.1M	0.45%	+20	Timeline
SPHQINVESCO EXCHANGE TRADED FD T	15,663	$1.05M	0.43%	+24	Timeline
SHYGISHARES TR	24,600	$1.05M	0.43%	-5,259	Timeline
QQQMINVESCO EXCH TRADED FD TR II	4,928	$1.04M	0.43%	+817	Timeline
IWMISHARES TR	4,515	$998K	0.41%	0	Timeline
VYMVANGUARD WHITEHALL FDS	7,778	$992K	0.41%	0	Timeline
GOOGLALPHABET INC	5,082	$962K	0.4%	-346	Timeline
CBZCBIZ INC	11,000	$900K	0.37%	0	Timeline
XLKSELECT SECTOR SPDR TR	3,814	$887K	0.36%	-108	Timeline
JPMJPMORGAN CHASE & CO	3,670	$880K	0.36%	-608	Timeline
SCHDSCHWAB STRATEGIC TR	32,106	$877K	0.36%	+21,655	Timeline
HDHOME DEPOT INC	2,233	$869K	0.36%	+44	Timeline
IWPISHARES TR	6,717	$851K	0.35%	0	Timeline
PMPHILIP MORRIS INTL INC	7,038	$847K	0.35%	-627	Timeline
BRWSABA CAPITAL INCOME & OPRNT	110,322	$841K	0.35%	-45,294	Timeline
VEAVANGUARD TAX-MANAGED FDS	16,729	$800K	0.33%	+4,235	Timeline
OKEONEOK INC NEW	7,880	$791K	0.33%	0	Timeline
EFAISHARES TR	9,366	$708K	0.29%	0	Timeline
AEPAMERICAN ELEC PWR CO INC	7,620	$703K	0.29%	0	Timeline
EMLPFIRST TR EXCHANGE-TRADED FD	19,345	$690K	0.28%	0	Timeline
LLYELI LILLY & CO	885	$683K	0.28%	-24	Timeline
PHPARKER-HANNIFIN CORP	1,035	$658K	0.27%	0	Timeline
BXBLACKSTONE INC	3,786	$653K	0.27%	-1,960	Timeline
XOMEXXON MOBIL CORP	5,844	$629K	0.26%	new	Timeline
GSGOLDMAN SACHS GROUP INC	1,092	$625K	0.26%	0	Timeline
PPGPPG INDS INC	5,204	$622K	0.26%	0	Timeline
BNBROOKFIELD CORP	10,534	$605K	0.25%	new	Timeline
OBDCBLUE OWL CAPITAL CORPORATION	39,363	$595K	0.24%	-758	Timeline
VVISA INC	1,798	$568K	0.23%	+490	Timeline
VWOVANGUARD INTL EQUITY INDEX F	12,789	$563K	0.23%	+2,858	Timeline
OPPRIVERNORTH DOUBLELINE STRATE	63,859	$533K	0.22%	0	Timeline
ACWXISHARES TR	9,959	$519K	0.21%	new	Timeline
CMCSACOMCAST CORP NEW	13,767	$517K	0.21%	0	Timeline
JNJJOHNSON & JOHNSON	3,483	$504K	0.21%	+180	Timeline
CRMSALESFORCE INC	1,480	$495K	0.2%	+443	Timeline
QCOMQUALCOMM INC	3,116	$479K	0.2%	-68	Timeline
VOVANGUARD INDEX FDS	1,763	$466K	0.19%	new	Timeline
CSGSCSG SYS INTL INC	9,000	$460K	0.19%	0	Timeline
PGPROCTER & GAMBLE CO	2,711	$454K	0.19%	+401	Timeline
BGXBLACKSTONE LONG SHORT CR INC	36,261	$451K	0.19%	-97,331	Timeline
SLRCSLR INVESTMENT CORP	27,520	$445K	0.18%	0	Timeline
TCPCBLACKROCK TCP CAPITAL CORP	50,858	$443K	0.18%	0	Timeline
EPDENTERPRISE PRODS PARTNERS L	13,993	$439K	0.18%	+600	Timeline
ABBVABBVIE INC	2,449	$435K	0.18%	+333	Timeline
VTVVANGUARD INDEX FDS	2,511	$425K	0.17%	0	Timeline
TYGTORTOISE ENERGY INFRSTRCTR C	9,770	$410K	0.17%	0	Timeline
MRKMERCK & CO INC	4,113	$409K	0.17%	-675	Timeline
IWCISHARES TR	3,123	$407K	0.17%	0	Timeline
VBKVANGUARD INDEX FDS	1,434	$402K	0.17%	new	Timeline
GDXVANECK ETF TRUST	11,752	$399K	0.16%	0	Timeline
VNQVANGUARD INDEX FDS	4,460	$397K	0.16%	-9,764	Timeline
NOCNORTHROP GRUMMAN CORP	821	$385K	0.16%	-21	Timeline
SPOTSPOTIFY TECHNOLOGY S A	860	$385K	0.16%	new	Timeline
LIILENNOX INTL INC	587	$358K	0.15%	0	Timeline
SHELSHELL PLC	5,682	$356K	0.15%	new	Timeline
PFEPFIZER INC	13,243	$351K	0.14%	-2,972	Timeline
ROPROPER TECHNOLOGIES INC	667	$347K	0.14%	+233	Timeline
BGBBLACKSTONE STRATEGIC CRED 20	26,899	$329K	0.14%	-49,977	Timeline
MAYSMAYS J W INC	7,326	$322K	0.13%	0	Timeline
ADBEADOBE INC	723	$322K	0.13%	+200	Timeline
JFRNUVEEN FLOATING RATE INCOME	35,541	$317K	0.13%	-202,370	Timeline
CVXCHEVRON CORPORATION	2,125	$308K	0.13%	+357	Timeline
SMHVANECK ETF TRUST	1,238	$300K	0.12%	0	Timeline
COSTCOSTCO WHOLESALE CORPORATION	324	$297K	0.12%	+76	Timeline
ADPAUTOMATIC DATA PROCESSING IN	993	$291K	0.12%	+160	Timeline
ABTABBOTT LABORATORIES	2,519	$285K	0.12%	+490	Timeline
TRSTRIMAS CORP	11,500	$283K	0.12%	0	Timeline
VTVANGUARD INTL EQUITY INDEX F	2,363	$278K	0.11%	0	Timeline
LULULULULEMON ATHLETICA INC	717	$274K	0.11%	new	Timeline
DBEFDBX ETF TR	6,331	$262K	0.11%	0	Timeline
PLDPROLOGIS INC.	2,422	$256K	0.11%	new	Timeline
BKNGBOOKING HOLDINGS INC	51	$253K	0.1%	-1	Timeline
WMBWILLIAMS COS INC	4,645	$251K	0.1%	0	Timeline
IYEISHARES TR	5,500	$251K	0.1%	0	Timeline
PINSPINTEREST INC	8,370	$243K	0.1%	0	Timeline
TRVTRAVELERS COMPANIES INC	1,004	$242K	0.1%	0	Timeline
MOALTRIA GROUP INC	4,576	$239K	0.1%	-773	Timeline
SPGIS&P GLOBAL INC	474	$236K	0.1%	new	Timeline
HONHONEYWELL INTL INC	1,042	$235K	0.1%	-147	Timeline
BLKBLACKROCK INC	228	$234K	0.1%	new	Timeline
SCHMSCHWAB STRATEGIC TR	8,094	$224K	0.09%	+5,397	Timeline
COINCOINBASE GLOBAL INC	895	$222K	0.09%	new	Timeline
UDRUDR INC	5,069	$220K	0.09%	+69	Timeline
MDLZMONDELEZ INTL INC	3,656	$218K	0.09%	0	Timeline
PSXPHILLIPS 66	1,904	$217K	0.09%	0	Timeline
VOEVANGUARD INDEX FDS	1,318	$213K	0.09%	new	Timeline
SBUXSTARBUCKS CORP	2,268	$207K	0.09%	new	Timeline
PARAMOUNT GLOBALPARAMOUNT GLOBAL	18,004	$188K	0.08%	+451
WVVIWILLAMETTE VALLEY VINEYARDS	54,800	$184K	0.08%	0	Timeline
ZGNERMENEGILDO ZEGNA N V	18,275	$151K	0.06%	new	Timeline
AMPLIFY ALTERNATIVE HARVEST…AMPLIFY ALTERNATIVE HARVEST ETF	52,672	$118K	0.05%	+225
RFICOHEN & STEERS TOTAL RETURN	10,010	$116K	0.05%	new	Timeline
E2OPEN PARENT HOLDINGS INCE2OPEN PARENT HOLDINGS INC	14,587	$38.8K	0.02%	0
CYDYCYTODYN, INC.	32,500	$3.56K	<0.01%	0	Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

Security	Type	Amount	Value	Change
TSLATESLA INC COM	put	9,400	$3.8M	new

Sold out in Q4 2024

Positions in the previous quarter's report that this quarter's report no longer lists.

Security	Shares before	Value before	Type
NRKNUVEEN NY AMT FREE	66,704	$747K	shares
NANNUVEEN NY DIVI ADV	39,784	$469K	shares
NEARISHARES U S ETF TR	8,975	$460K	shares
BONDPIMCO ETF TR	4,817	$456K	shares
CEGCONSTELLATION ENERGY CORP	886	$230K	shares
MGMMGM RESORTS INTERNATIONAL	5,750	$226K	shares
BLACKROCK INCBLACKROCK INC	236	$224K	shares
MANHMANHATTAN ASSOCIATES INC	771	$217K	shares
CUREDIREXION SHARES ETF TRUST	1,500	$200K	shares
BEBLOOM ENERGY CORP	18,622	$197K	shares
Wise PlcWise Plc	11,116	$100K	shares
VINTAGE WINE ESTATES INCVINTAGE WINE ESTATES INC	100,049	$200	shares

How Q4 2024 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

Filing	Role	Amendment	Filed	Accepted	Ingested
13F-HR 0001437749-25-003355	base		2025-02-11	acceptance time not in the bulk data set	2026-10-07 18:25:55 UTC