Next Capital Management LLC

Q3 2025 13F-HR Holdings

Location
New York, NY
Holdings as of
9/30/2025
Date filed
11/5/2025
Form type
13F-HR
Num holdings
139
Total value ($000)
$299,618
Net value change ($000)
+29,002 (10.7%)
New positions
12
Sold out positions
10
Turnover %
1.9%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/5/2025 Next filing: 2/11/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
MFIC 6,931 75.7%
TCPC 6,151 70.4%
IVV 6,150 15.4%
IEMG 2,108 42.7%
IEFA 2,027 20.9%
IWF 1,291 16.7%
IJR 1,098 26.5%
VTI 872 10.8%
IVW 842 16.0%
IWD 729 17.6%
Top Reduces (Value $000, Stocks/ETFs)
VOO -2,809 -31.4%
AAPL -1,976 -21.9%
GBDC -751 -18.3%
CBZ -551 -69.8%
EWG -486 -100.0%
MRK -461 -100.0%
KO -451 -29.3%
PFE -434 -100.0%
NOC -405 -100.0%
UNH -389 -100.0%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
Filter:
Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type