Next Capital Management Llc Portfolio Shifts: Key Purchases & Sales in Q2 2026
A detailed analysis of Next Capital Management's investment activities during the second quarter, highlighting significant changes to their holdings.
As reported by Next Capital Management Llc, this quarter saw substantial activity within its portfolio. The total portfolio value stood at $369,089,616 as of June 30th, 2026.
The investor demonstrated a clear preference for growth-oriented strategies and certain sectors during Q2. Notable purchases included significant increases in shares of ISHARES RUSSELL 1000 Growth ETF (IWF), which experienced a massive 295% increase, boosting its portfolio allocation to 2.83%. Similarly, the investor added considerable weight through VANGUARD INFORMATION TECHNOLOGY INDEX FUND ETF SHARES (VGT) and VANGUARD GROWTH INDEX FUND ETF SHARES (VUG), both seeing over 500% increases in their holdings during the quarter.
In addition to these significant growth additions, Next Capital Management also increased its stake in several other prominent holdings. The portfolio saw weight gains through ISHARES CORE S&P 500 ETF (IVV) and ISHARES CORE MSCI EMERGING MARKETS ETF (IEMG), although the latter's share increase percentage was more modest at around 7.86%. Furthermore, there were substantial additions to BLACKROCK TCP CAP CORP (TCPC) and BLUE OWL CAP CORP (OBDC), both within the Financial Services sector, indicating continued confidence in this area.
Conversely, the investor also made notable adjustments by reducing positions or exiting certain holdings. The portfolio allocation for MIDCAP FINL INVESTME (MFIC) decreased slightly from 5.17% to 4.99%, reflecting a reduction in its weight despite an increase in shares during the period.
The most significant selling activity observed this quarter was the complete exit of PM, which saw all its shares sold off. This action resulted in a substantial reduction from previous levels, impacting the overall portfolio structure.
Furthermore, Next Capital Management shed weight from several other sectors and holdings during Q2 2026. The investor reduced exposure to GOLUB CAP BDC INC (GBDC), decreasing its allocation by over 10%. There were also decreases in the portfolio percentages for SCHWAB FUNDAMENTAL U.S. LARGE COMPANY ETF (FNDX) and SCHWAB U.S. DIVIDEND EQUITY ETF (SCHD). The investor also exited positions in smaller holdings like WEYERHAEUSER CO REIT (WY) and Erasca Inc Com (ERAS), which saw their portfolio percentages drop to zero. The changes in the Financial Services sector were particularly pronounced, with significant reductions across several holdings.