13F GuideFiling Basics
What is SEC Form 13F? Ultimate Guide to Institutional Equity Filings
Learn how SEC Form 13F filings work, the $100M threshold, 45-day reporting lag, and how to track top hedge fund holdings.
AlphaSMO Research GuideRead Guide
CIK: 0001752762
Total reported value
$370.5M
$370.5M
136 檔
28.5%
As reported in its official Q4 2025 Form 13F filing, Next Capital Management LLC's tracked investment portfolio stood at $370.5M with 136 total positions.
In Q4 2025, Next Capital Management LLC displayed an active expansion posture, initiating 9 new positions and adding to 21 existing holdings, outstripping position reductions.
In terms of portfolio concentration, the top 5 core holdings (including IVV, MFIC, TCPC) accounted for 28.5% of total reported equity market value during Q4 2025.
Top New Position Initiated
BIZD
市值: $652.3K
Top Position Liquidated / Trimmed
WMT
前期市值: $2.1M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 15.31% | +0.68% | +1.65% | |
| 2 | MFIC | Midcap Financial Investment | Stock-Other | 5.44% | -1.20% | +10.64% | |
| 3 | TCPC | Blackrock Tcp Capital CORP | Stock-Other | 4.70% | -0.49% | +11.75% | |
| 4 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 4.21% | +0.47% | +1.61% | |
| 5 | IEFA | Ishares Core Msci Eafe ETF | ETF-Other | 4.18% | +0.21% | +8.63% | |
| 6 | META | Meta Platforms Inc-class A | Stock-Comm Services | 3.51% | -0.19% | -0.61% | |
| 7 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 3.34% | -0.73% | -3.02% | |
| 8 | IWF | Ishares Russell 1000 Growth | ETF-Other | 3.25% | +0.07% | +11.68% | |
| 9 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 3.24% | +0.06% | +10.71% | |
| 10 | IEMG | Ishares Core Msci Emerging | ETF-Emerging Markets | 3.07% | +0.45% | +33.39% | |
| 11 | IVW | Ishares S&p 500 Growth ETF | ETF-Large Cap & Growth | 2.58% | +0.28% | +29.32% | |
| 12 | AAPL | Apple Inc | Stock-Tech | 2.47% | +0.01% | +2.32% | |
| 13 | IJR | Ishares Core S&p Small-cap E | ETF-Small Cap | 1.81% | +0.23% | +6.43% | |
| 14 | IWD | Ishares Russell 1000 Value E | ETF-Other | 1.73% | +0.01% | +7.47% | |
| 15 | IJH | Ishares Core S&p Midcap ETF | ETF-Other | 1.71% | +0.23% | +15.05% | |
| 16 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 1.69% | +0.04% | -15.93% | |
| 17 | NVDA | Nvidia CORP | Stock-Tech | 1.49% | +0.03% | -5.75% | |
| 18 | IWB | Ishares Russell 1000 ETF | ETF-Other | 1.43% | +0.03% | +0.26% | |
| 19 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 1.35% | +0.01% | +5.93% | |
| 20 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.33% | -0.08% | -1.89% | |
| 21 | SCHA | Schwab US Small-cap ETF | ETF-Other | 1.09% | +0.10% | +1.50% | |
| 22 | GBDC | Golub Capital Bdc Inc | Stock-Financials | 1.06% | -0.41% | — | |
| 23 | FNDX | Schwab Fndmntl US Lrg Co ETF | ETF-Other | 1.05% | +0.13% | +14.33% | |
| 24 | SCHX | Schwab US Large-cap ETF | ETF-Other | 0.98% | — | -1.52% | |
| 25 | VIG | Vanguard Dividend Apprec ETF | ETF-Other | 0.94% | -0.02% | +0.08% | |
| 26 | QQQM | Invesco Nasdaq 100 ETF | ETF-Tech | 0.90% | +0.22% | +34.02% | |
| 27 | XLV | Ss Health Care Select Sector | ETF-Other | 0.89% | -0.03% | -3.32% | |
| 28 | KKR | Kkr & Co Inc | Stock-Financials | 0.83% | -0.07% | — | |
| 29 | OBDC | Blue Owl Capital CORP | Stock-Financials | 0.80% | +0.21% | +407.03% | |
| 30 | VUG | Vanguard Growth ETF | ETF-Other | 0.77% | +0.04% | -4.08% | |
| 31 | VGT | Vanguard Info Tech ETF | ETF-Tech | 0.67% | +0.13% | +0.65% | |
| 32 | IUSV | Ishares Core S&p U.s. Value | ETF-Other | 0.67% | -0.04% | +35.86% | |
| 33 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.65% | -0.03% | +5.32% | |
| 34 | MSFT | Microsoft CORP | Stock-Tech | 0.65% | -0.01% | -3.64% | |
| 35 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.64% | +0.02% | -2.77% | |
| 36 | EEM | Ishares Msci Emerging Market | ETF-Emerging Markets | 0.61% | +0.04% | +1.06% | |
| 37 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.61% | +0.08% | — | |
| 38 | XLF | Ss Financial Select Sector | ETF-Other | 0.58% | +0.02% | +1.14% | |
| 39 | MDB | Mongodb Inc | Stock-Tech | 0.57% | +0.04% | -1.98% | |
| 40 | KWEB | Kranesh Csi China Internet | ETF-Emerging Markets | 0.53% | -0.10% | — | |
| 41 | JPST | Jpmorgan Ultra-short Income | ETF-Other | 0.53% | -0.33% | EXIT | |
| 42 | SCHW | Schwab (charles) CORP | Stock-Financials | 0.52% | -0.07% | -39.18% | |
| 43 | BRK-A | Berkshire Hathaway Inc-cl A | Stock-Other | 0.48% | — | — | |
| 44 | VV | Vanguard Large-cap ETF | ETF-Other | 0.45% | +0.01% | — | |
| 45 | VOT | Vanguard Mid-cap Growth ETF | ETF-Other | 0.45% | +0.03% | — | |
| 46 | TFX | Teleflex Inc | Stock-Healthcare | 0.41% | — | — | |
| 47 | IWP | Ishares Russell Mid-cap Grow | ETF-Other | 0.41% | +0.01% | +0.08% | |
| 48 | GS | Goldman Sachs Group Inc | Stock-Financials | 0.40% | +0.02% | — | |
| 49 | XLK | Ss Technology Select Sector | ETF-Tech | 0.38% | +0.21% | +107.30% | |
| 50 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.37% | -0.03% | +0.23% |
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | IEMG | Ishares Core Msci Emerging | +0.7% | +33.39% | Add |
| 2 | OBDC | Blue Owl Capital CORP | +0.6% | +407.03% | Add |
| 3 | IVW | Ishares S&p 500 Growth ETF | +0.5% | +29.32% | Add |
| 4 | IEFA | Ishares Core Msci Eafe ETF | +0.3% | +8.63% | Add |
| 5 | VTI | Vanguard Total Stock Mkt ETF | +0.3% | +10.71% | Add |
| 6 | IWF | Ishares Russell 1000 Growth | +0.2% | +11.68% | Add |
| 7 | QQQM | Invesco Nasdaq 100 ETF | +0.2% | +34.02% | Add |
| 8 | IJH | Ishares Core S&p Midcap ETF | +0.2% | +15.05% | Add |
| 9 | IUSV | Ishares Core S&p U.s. Value | +0.2% | +35.86% | Add |
| 10 | LLY | Eli Lilly & Co | +0.2% | — | Unchanged |
| 11 | GOOGL | Alphabet Inc-cl A | +0.2% | +5.32% | Add |
| 12 | FNDX | Schwab Fndmntl US Lrg Co ETF | +0.1% | +14.33% | Add |
| 13 | JPST | Jpmorgan Ultra-short Income | +0.1% | +37.50% | Add |
| 14 | AAPL | Apple Inc | +0.1% | +2.32% | Add |
| 15 | MDB | Mongodb Inc | +0.1% | -1.98% | Trim |
| 16 | IWD | Ishares Russell 1000 Value E | +0.1% | +7.47% | Add |
| 17 | GOOG | Alphabet Inc-cl C | +0.1% | -2.77% | Trim |
| 18 | MFIC | Midcap Financial Investment | +0.1% | +10.64% | Add |
| 19 | IJR | Ishares Core S&p Small-cap E | +0.1% | +6.43% | Add |
| 20 | SPY | Ss Spdr S&p 500 ETF Trust-us | +0.1% | +5.93% | Add |
| 21 | QQQ | Invesco Qqq Trust Series 1 | 0% | +1.61% | Add |
| 22 | IVV | Ishares Core S&p 500 ETF | 0% | +1.65% | Add |
| 23 | AMZN | Amazon.com Inc | -0.1% | -3.02% | Trim |
| 24 | SCHW | Schwab (charles) CORP | -0.1% | -39.18% | Trim |
| 25 | MSFT | Microsoft CORP | -0.1% | -3.64% | Trim |
| 26 | JPM | Jpmorgan Chase & Co | -0.1% | -26.97% | Trim |
| 27 | KWEB | Kranesh Csi China Internet | -0.2% | — | Unchanged |
| 28 | NVDA | Nvidia CORP | -0.2% | -5.75% | Trim |
| 29 | NFLX | Netflix Inc | -0.2% | +554.46% | Add |
| 30 | TCPC | Blackrock Tcp Capital CORP | -0.3% | +11.75% | Add |
| 31 | VOO | Vanguard S&p 500 ETF | -0.4% | -15.93% | Trim |
| 32 | META | Meta Platforms Inc-class A | -0.6% | -0.61% | Trim |
| 33 | WMT | Walmart Inc | — | EXIT | Sold out |
| 34 | PM | Philip Morris International | — | EXIT | Sold out |
| 35 | MCD | Mcdonald's CORP | — | EXIT | Sold out |
| 36 | HD | Home Depot Inc | — | EXIT | Sold out |
| 37 | BIZD | Vaneck Bdc Income ETF | — | NEW | New buy |
| 38 | COF | Capital One Financial CORP | — | NEW | New buy |
| 39 | DFEN | Direx Dly Aeros & Df Bl3x-ui | — | EXIT | Sold out |
| 40 | MO | Altria Group Inc | — | EXIT | Sold out |
| 41 | SCHM | Schwab US Mid Cap ETF | — | NEW | New buy |
| 42 | SLV | Ishares Silver Trust | — | NEW | New buy |
| 43 | PG | Procter & Gamble Co/the | — | EXIT | Sold out |
| 44 | BNDX | Vanguard Total Intl Bond ETF | — | NEW | New buy |
| 45 | VO | Vanguard Mid-cap ETF | — | NEW | New buy |
| 46 | MDLZ | Mondelez International Inc-a | — | EXIT | Sold out |
| 47 | MGM | Mgm Resorts International | — | NEW | New buy |
| 48 | WEC | Wec Energy Group Inc | — | EXIT | Sold out |
| 49 | DIVB | Ishares Core Dividend ETF | — | NEW | New buy |
| 50 | AMRZ | Amrize Ltd | — | NEW | New buy |
According to official SEC Form 13F filings, Next Capital Management LLC reported a total U.S. public equity portfolio value of $370.5M across 136 disclosed positions in Q4 2025.
During Q4 2025, Next Capital Management LLC's top holdings by market value included IVV (15.3%)、MFIC (5.4%)、TCPC (4.7%). The largest single position, IVV, represented 15.3% of total portfolio value.
In Q4 2025, Next Capital Management LLC made 48 total portfolio adjustments, initiating 9 new buys, adding to 21 positions, trimming 9 holdings, and fully liquidating 9 stocks.
All holding records on this page are fetched directly from the U.S. Securities and Exchange Commission (SEC) EDGAR system (Form 13F-HR). AlphaSMO parses CUSIP identifiers and formats data into Schema.org-compliant datasets.
Expert Analysis & Guides for Tracking Wall Street Smart Money Movements
Learn how SEC Form 13F filings work, the $100M threshold, 45-day reporting lag, and how to track top hedge fund holdings.
Understand SEC Form 4 insider disclosures for corporate officers, directors, and 10% owners to track executive transactions.
Understand Rule 144 restricted stock sale notices to spot planned insider liquidations before market sell pressure arrives.
Explore the 5% beneficial ownership threshold, 13D vs 13G filing differences, and recent SEC accelerated deadline rules.
Best practices for analyzing 13F quarterly changes without getting misled by stock splits, options, or market valuation drift.
Learn how AlphaSMO's flagship signal detects high-conviction stocks where 13F hedge funds and corporate insiders buy at the same time.