Next Capital Management LLC reported 70 positions worth $135.79M for the quarter ended Jun 30, 2026, up 2.1% on the prior quarter. It opened 9 new positions, added to 12, trimmed 21 and exited 8. Its largest holding is MidCap Financial Investment Corp at 14.1% of the portfolio.
Reported 13F market value at each quarter end. A change mixes trading with price moves in the positions held.
Dollar value of shares bought and sold each quarter, at that quarter’s price. It counts trading only, not price changes.
How many positions were opened, added to, trimmed or closed each quarter.
Share of reported value in each sector at every quarter end.
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| OBDC Blue Owl Capital Corp | +269.9K | +19.0% | $2.95M | 13.6% |
| META Meta Platforms, Inc. | +985 | +6.0% | $554.83K | 7.17% |
| AVGO Broadcom Inc. | +1,142 | – | $431.39K | 0.318% |
| BX Blackstone Inc. | +2,875 | +12.9% | $338.30K | 2.18% |
| KKR KKR & Co. Inc. | +3,568 | +7.5% | $327.47K | 3.47% |
| FDX Fedex Corp | +1,040 | – | $325.66K | 0.24% |
| APO Apollo Global Management, Inc. | +2,706 | +12.4% | $320.15K | 2.14% |
| MFIC MidCap Financial Investment Corp | +28.0K | +1.5% | $282.39K | 14.1% |
| ERAS Erasca, Inc. | +15.3K | – | $280.30K | 0.206% |
| TCPC BlackRock TCP Capital Corp. | +80.7K | +2.6% | $271.28K | 7.75% |
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| AMZN Amazon Com Inc | -12.2K | -28.7% | $2.92M | 5.34% |
| GBDC GOLUB CAPITAL BDC, Inc. | -61.8K | -10.9% | $795.51K | 4.79% |
| RYAM Rayonier Advanced Materials Inc. | -51.4K | -100.0% | $569.24K | Exited |
| ALAB Astera Labs, Inc. | -5,182 | -100.0% | $567.95K | Exited |
| PM Philip Morris International Inc. | -2,189 | -64.8% | $396.01K | 0.159% |
| GOOGL Alphabet Inc. | -1,023 | -15.3% | $365.61K | 1.49% |
| GLW Corning Inc | -2,000 | -100.0% | $271.94K | Exited |
| OWL Blue Owl Capital Inc. | -29.0K | -100.0% | $264.83K | Exited |
| HD Home Depot, Inc. | -675 | -100.0% | $222.00K | Exited |
| MGM MGM Resorts International | -5,780 | -100.0% | $213.92K | Exited |
| Holding | Shares | Trade Value | Weight |
|---|---|---|---|
| AVGO Broadcom Inc. | +1,142 | $431.39K | 0.318% |
| FDX Fedex Corp | +1,040 | $325.66K | 0.24% |
| ERAS Erasca, Inc. | +15.3K | $280.30K | 0.206% |
| HONA Honeywell Aerospace Inc. | +1,220 | $269.72K | 0.199% |
| WY Weyerhaeuser Co | +10.0K | $239.40K | 0.176% |
| DAL Delta Air Lines, Inc. | +2,500 | $234.15K | 0.172% |
| PANW Palo Alto Networks Inc | +660 | $225.07K | 0.166% |
| UNH Unitedhealth Group Inc | +519 | $215.71K | 0.159% |
| AEVA Aeva Technologies, Inc. | +7,355 | $211.24K | 0.156% |
| Holding | Shares Sold | Trade Value | Prior Weight |
|---|---|---|---|
| RYAM Rayonier Advanced Materials Inc. | -51.4K | $569.24K | 0.428% |
| ALAB Astera Labs, Inc. | -5,182 | $567.95K | 0.427% |
| GLW Corning Inc | -2,000 | $271.94K | 0.204% |
| OWL Blue Owl Capital Inc. | -29.0K | $264.83K | 0.199% |
| HD Home Depot, Inc. | -675 | $222.00K | 0.167% |
| MGM MGM Resorts International | -5,780 | $213.92K | 0.161% |
| AMRZ Amrize Ltd | -3,750 | $210.08K | 0.158% |
| MA Mastercard Inc | -411 | $205.47K | 0.154% |
| # | Activity | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | MFIC MidCap Financial Investment Corp | Financial Services | 1.90M | $19.15M | 14.1% | +28.0K | +1.5% | Added | 2.3% |
| 2 | OBDC Blue Owl Capital Corp | Financial Services | 1.69M | $18.47M | 13.6% | +269.9K | +19.0% | Added | 0.34% |
| 3 | TCPC BlackRock TCP Capital Corp. | Financial Services | 3.13M | $10.52M | 7.75% | +80.7K | +2.6% | Added | 3.73% |
| 4 | META Meta Platforms, Inc. | Technology | 17.3K | $9.73M | 7.17% | +985 | +6.0% | Added | 0% |
| 5 | AAPL Apple Inc. | Technology | 26.4K | $7.63M | 5.62% | -268 | -1.0% | Reduced | 0% |
| 6 | AMZN Amazon Com Inc | Consumer Discretionary | 30.4K | $7.25M | 5.34% | -12.2K | -28.7% | Reduced | 0% |
| 7 | GBDC GOLUB CAPITAL BDC, Inc. | Financial Services | 505.4K | $6.51M | 4.79% | -61.8K | -10.9% | Reduced | 0.19% |
| 8 | KKR KKR & Co. Inc. | Financial Services | 51.3K | $4.71M | 3.47% | +3,568 | +7.5% | Added | 0.01% |
| 9 | NVDA Nvidia Corp | Technology | 22.6K | $4.52M | 3.33% | +30 | +0.1% | Added | 0% |
| 10 | BRK-B Berkshire Hathaway Inc | Financial Services | 8,342 | $4.17M | 3.07% | -10 | -0.1% | Reduced | 0% |
| 11 | BX Blackstone Inc. | Financial Services | 25.2K | $2.96M | 2.18% | +2,875 | +12.9% | Added | 0% |
| 12 | APO Apollo Global Management, Inc. | Financial Services | 24.6K | $2.91M | 2.14% | +2,706 | +12.4% | Added | 0% |
| 13 | MSFT Microsoft Corp | Technology | 6,140 | $2.29M | 1.69% | +487 | +8.6% | Added | 0% |
| 14 | LLY ELI LILLY & Co | Healthcare | 1,768 | $2.12M | 1.56% | 0 | 0.0% | Unchanged | 0% |
| 15 | GOOG Alphabet Inc. | Technology | 5,995 | $2.12M | 1.56% | -366 | -5.8% | Reduced | 0% |
Tip. Select a row to see that position’s full history at Next Capital Management.
As of its Q2 2026 13F filing, Next Capital Management LLC’s five largest positions were MidCap Financial Investment Corp (MFIC) at 14.1%, Blue Owl Capital Corp (OBDC) at 13.6%, BlackRock TCP Capital Corp. (TCPC) at 7.7%, Meta Platforms, Inc. (META) at 7.2%, Apple Inc. (AAPL) at 5.6% of the reported portfolio.
Next Capital Management LLC reported a 13F portfolio worth $135.79M across 70 positions for Q2 2026. That is up 2.1% from the previous quarter.
Its largest purchases by value were Blue Owl Capital Corp ($2.95M), Meta Platforms, Inc. ($554.83K), Broadcom Inc. ($431.39K). It opened 9 new positions.
Its largest sales by value were Amazon Com Inc ($2.92M), GOLUB CAPITAL BDC, Inc. ($795.51K), Rayonier Advanced Materials Inc. ($569.24K). It exited 8 positions entirely.
From the Form 13F-HR reports Next Capital Management LLC files with the SEC each quarter, within 45 days of quarter end. A 13F lists long positions in US-listed equities and options; it excludes short positions, cash, bonds and most non-US holdings.
13F data reflects long positions in US-listed equities and options as reported to the SEC up to 45 days after quarter end. It excludes short positions, cash, bonds and most non-US securities, so it is not a complete picture of a manager’s assets.