Next Capital Management LLC

#	Issuer	Class	Value	Shares	% Portfolio	Discretion
1	ISHARES CORE S&P 500 ETF	UIE	$46.1M	70599	13.97%	SOLE
2	MIDCAP FINL INVESTME	COM	$21.0M	1871652	6.37%	SOLE
3	BLUE OWL CAP CORP	COM	$15.8M	1418819	4.78%	SOLE
4	ISHARES CORE MSCI EAFE ETF	UIE	$14.5M	159750	4.38%	SOLE
5	INVESCO QQQ TR	COM	$11.6M	20091	3.51%	SOLE
6	BLACKROCK TCP CAP CORP	COM	$11.0M	3049547	3.33%	SOLE
7	ISHARES CORE MSCI EMERGING MARKETS ETF	UIE	$10.6M	151521	3.20%	SOLE
8	VANGUARD TOTAL STOCK MARKET INDEX FUND ETF SHARES	UIE	$10.0M	31160	3.03%	SOLE
9	META PLATFORMS INC CLASS CLASS A	COM	$9.3M	16296	2.82%	SOLE
10	ISHARES RUSSELL 1000 GROWTH ETF	UIE	$9.1M	21386	2.76%	SOLE
11	AMAZON.COM INC	COM	$8.9M	42650	2.69%	SOLE
12	ISHARES S&P 500 GROWTH ETF	UIE	$7.7M	67879	2.33%	SOLE
13	GOLUB CAP BDC INC	COM	$7.2M	567205	2.17%	SOLE
14	APPLE INC	COM	$6.8M	26623	2.05%	SOLE
15	ISHARES CORE S&P MID-CAPETF	UIE	$6.2M	92174	1.89%	SOLE
16	ISHARES CORE S&P SMALL-CAP ETF	UIE	$6.2M	49749	1.87%	SOLE
17	ISHARES RUSSELL 1000 VALUE ETF	UIE	$6.0M	28065	1.82%	SOLE
18	VANGUARD S&P 500 ETF	UIE	$5.1M	8533	1.54%	SOLE
19	KKR & CO INC	COM	$4.4M	47771	1.34%	SOLE
20	STATE STREET SPDR S&P 500 ETF TRUST	UIE	$4.4M	6759	1.33%	SOLE
21	ISHARES RUSSELL 1000 ETF	UIE	$4.3M	11952	1.29%	SOLE
22	BERKSHIRE HATHAWAY CLASS B	COM	$4.0M	8352	1.21%	SOLE
23	NVIDIA CORP	COM	$3.9M	22584	1.19%	SOLE
24	SCHWAB FUNDAMENTAL U.S. LARGE COMPANY ETF	UIE	$3.6M	128008	1.08%	SOLE
25	VANGUARD DIVIDEND APPRECIATION INDEX FUND ETF SHARES	UIE	$3.1M	14617	0.95%	SOLE
26	SCHWAB U.S. SMALL-CAP ETF	UIE	$3.1M	107890	0.95%	SOLE
27	SCHWAB U.S. LARGE-CAP ETF	UIE	$2.9M	114110	0.89%	SOLE
28	INVESCO NASDAQ 100 ETF	UIE	$2.6M	11148	0.80%	SOLE
29	STATE STREET HEALTH CARESELECT SECTOR SPDR ETF	UIE	$2.6M	18001	0.80%	SOLE
30	BLACKSTONE INC	COM	$2.6M	22322	0.78%	SOLE
31	APOLLO GLOBAL MGMT INC NCLASS CLASS A	COM	$2.4M	21863	0.74%	SOLE
32	VANGUARD GROWTH INDEX FUND ETF SHARES	UIE	$2.2M	5067	0.67%	SOLE
33	SALESFORCE INC	COM	$2.1M	11350	0.64%	SOLE
34	MICROSOFT CORP	COM	$2.1M	5653	0.63%	SOLE
35	ISHARES MSCI EMERGING MARKETS ETF	UIE	$2.1M	36624	0.63%	SOLE
36	ISHARES CORE S&P U.S. VALUE ETF	UIE	$2.0M	19560	0.61%	SOLE
37	VANGUARD INFORMATION TECHNOLOGY INDEX FUND ETF SHARES	UIE	$1.9M	2773	0.59%	SOLE
38	ALPHABET INC CLASS CLASS A	COM	$1.9M	6679	0.58%	SOLE
39	ALPHABET INC CLASS CLASS C	COM	$1.8M	6361	0.55%	SOLE
40	STATE STREET FINANCIAL SELECT SECTOR SPDR ETF	UIE	$1.7M	34508	0.52%	SOLE
41	ELI LILLY AND CO	COM	$1.6M	1768	0.49%	SOLE
42	VANGUARD LARGE-CAP INDEXFUND ETF SHARES	UIE	$1.6M	5376	0.49%	SOLE
43	CHARLES SCHWAB CORP	COM	$1.6M	16923	0.48%	SOLE
44	ISHARES RUSSELL MID-CAP GROWTH ETF	UIE	$1.5M	11643	0.45%	SOLE
45	KRANESHARES CSI CHINA INTERNET ETF	UIE	$1.4M	49020	0.42%	SOLE
46	JOHNSON & JOHNSON	COM	$1.4M	5530	0.41%	SOLE
47	GOLDMAN SACHS GROUP INC	COM	$1.3M	1535	0.39%	SOLE
48	VANGUARD MID-CAP GROWTH INDEX FUND ETF SHARES	UIE	$1.3M	5020	0.39%	SOLE
49	THE COCA-COLA CO	COM	$1.3M	16611	0.38%	SOLE
50	SCHWAB U.S. DIVIDEND EQUITY ETF	UIE	$1.3M	40920	0.38%	SOLE

1

ISHARES CORE S&P 500 ETF

$46.1M

70599

13.97%

2

MIDCAP FINL INVESTME

$21.0M

1871652

6.37%

3

BLUE OWL CAP CORP

$15.8M

1418819

4.78%

4

ISHARES CORE MSCI EAFE ETF

$14.5M

159750

4.38%

5

INVESCO QQQ TR

$11.6M

20091

3.51%

6

BLACKROCK TCP CAP CORP

$11.0M

3049547

3.33%

7

ISHARES CORE MSCI EMERGING MARKETS ETF

$10.6M

151521

3.20%

8

VANGUARD TOTAL STOCK MARKET INDEX FUND ETF SHARES

$10.0M

31160

3.03%

9

META PLATFORMS INC CLASS CLASS A

$9.3M

16296

2.82%

10

ISHARES RUSSELL 1000 GROWTH ETF

$9.1M

21386

2.76%

11

AMAZON.COM INC

$8.9M

42650

2.69%

12

ISHARES S&P 500 GROWTH ETF

$7.7M

67879

2.33%

13

GOLUB CAP BDC INC

$7.2M

567205

2.17%

14

APPLE INC

$6.8M

26623

2.05%

15

ISHARES CORE S&P MID-CAPETF

$6.2M

92174

1.89%

16

ISHARES CORE S&P SMALL-CAP ETF

$6.2M

49749

1.87%

17

ISHARES RUSSELL 1000 VALUE ETF

$6.0M

28065

1.82%

18

VANGUARD S&P 500 ETF

$5.1M

8533

1.54%

19

KKR & CO INC

$4.4M

47771

1.34%

20

STATE STREET SPDR S&P 500 ETF TRUST

$4.4M

6759

1.33%

21

ISHARES RUSSELL 1000 ETF

$4.3M

11952

1.29%

22

BERKSHIRE HATHAWAY CLASS B

$4.0M

8352

1.21%

23

NVIDIA CORP

$3.9M

22584

1.19%

24

SCHWAB FUNDAMENTAL U.S. LARGE COMPANY ETF

$3.6M

128008

1.08%

25

VANGUARD DIVIDEND APPRECIATION INDEX FUND ETF SHARES

$3.1M

14617

0.95%

26

SCHWAB U.S. SMALL-CAP ETF

$3.1M

107890

0.95%

27

SCHWAB U.S. LARGE-CAP ETF

$2.9M

114110

0.89%

28

INVESCO NASDAQ 100 ETF

$2.6M

11148

0.80%

29

STATE STREET HEALTH CARESELECT SECTOR SPDR ETF

$2.6M

18001

0.80%

30

BLACKSTONE INC

$2.6M

22322

0.78%

31

APOLLO GLOBAL MGMT INC NCLASS CLASS A

$2.4M

21863

0.74%

32

VANGUARD GROWTH INDEX FUND ETF SHARES

$2.2M

5067

0.67%

33

SALESFORCE INC

$2.1M

11350

0.64%

34

MICROSOFT CORP

$2.1M

5653

0.63%

35

ISHARES MSCI EMERGING MARKETS ETF

$2.1M

36624

0.63%

36

ISHARES CORE S&P U.S. VALUE ETF

$2.0M

19560

0.61%

37

VANGUARD INFORMATION TECHNOLOGY INDEX FUND ETF SHARES

$1.9M

2773

0.59%

38

ALPHABET INC CLASS CLASS A

$1.9M

6679

0.58%

39

ALPHABET INC CLASS CLASS C

$1.8M

6361

0.55%

40

STATE STREET FINANCIAL SELECT SECTOR SPDR ETF

$1.7M

34508

0.52%

41

ELI LILLY AND CO

$1.6M

1768

0.49%

42

VANGUARD LARGE-CAP INDEXFUND ETF SHARES

$1.6M

5376

0.49%

43

CHARLES SCHWAB CORP

$1.6M

16923

0.48%

44

ISHARES RUSSELL MID-CAP GROWTH ETF

$1.5M

11643

0.45%

45

KRANESHARES CSI CHINA INTERNET ETF

$1.4M

49020

0.42%

46

JOHNSON & JOHNSON

$1.4M

5530

0.41%

47

GOLDMAN SACHS GROUP INC

$1.3M

1535

0.39%

48

VANGUARD MID-CAP GROWTH INDEX FUND ETF SHARES

$1.3M

5020

0.39%

49

THE COCA-COLA CO

$1.3M

16611

0.38%

50

SCHWAB U.S. DIVIDEND EQUITY ETF

$1.3M

40920

0.38%

Next Capital Management LLC

Mar 2026 (Q1)