Next Capital Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
ROYAL DUTCH SHELL FSPONSORED ADR 1 ADR REPS 2 ORD SHS	ADR	780259206	300	7,419	SH		SOLE		0	0	7,419
THYSSENKRUPP AG FSPONSORED ADR 1 ADR REPS 1 ORD SHS	ADR	88629Q207	210	20,000	SH		SOLE		0	0	20,000
APOLLO SENIOR FLOATING R	CEM	037636107	4,929	313,188	SH		SOLE		0	0	313,188
BLACKROCK FLOAT RATE INC	CEM	09255X100	3,865	291,687	SH		SOLE		0	0	291,687
BLACKSTONE LONG SHORT CR	CEM	09257D102	452	29,912	SH		SOLE		0	0	29,912
BLACKSTONE STRATEGIC CRE	CEM	09257R101	1,407	101,202	SH		SOLE		0	0	101,202
EV Senior Income Trust	CEM	27826S103	383	56,589	SH		SOLE		0	0	56,589
GRAYSCALE BITCOIN TR BTC	CEM	389637109	267	8,954	SH		SOLE		0	0	8,954
GRAYSCALE ETHEREUM COM U	CEM	389638107	294	13,125	SH		SOLE		0	0	13,125
NUVEEN AMT FREE MNCPL CR	CEM	67071L106	470	26,324	SH		SOLE		0	0	26,324
NUVEEN AMT FREE QUALITY	CEM	670657105	664	42,315	SH		SOLE		0	0	42,315
NUVEEN FLOATG RATE INCM	CEM	6706EN100	3,087	316,878	SH		SOLE		0	0	316,878
NUVEEN FLOATING RATE INC	CEM	67072T108	2,849	284,335	SH		SOLE		0	0	284,335
NUVEEN NEW YORK QLTY MNC	CEM	67066X107	622	41,272	SH		SOLE		0	0	41,272
NUVEEN NY AMT FREE QLT M	CEM	670656107	2,163	152,445	SH		SOLE		0	0	152,445
NUVEEN SENIOR INCOME CF	CEM	67067Y104	2,169	368,187	SH		SOLE		0	0	368,187
NUVEEN SHORT DURATION CR	CEM	67074X107	2,116	141,165	SH		SOLE		0	0	141,165
SABA CAPITAL INCOME & OPTENDER OFFER EXP: 07/19/21	CEM	78518H103	5,327	1,131,230	SH		SOLE		0	0	1,131,230
1/100 BERKSHIRE HTWY CLA100 SHS=1 WHOLE SH BRK A	COM	084990175	837	200	SH		SOLE		0	0	200
ACTIVISION BLIZZARD	COM	00507V109	616	6,450	SH		SOLE		0	0	6,450
ALPHABET INC. CLASS A	COM	02079K305	479	196	SH		SOLE		0	0	196
ALPHABET INC. CLASS C	COM	02079K107	368	147	SH		SOLE		0	0	147
AMAZON.COM INC	COM	023135106	1,221	355	SH		SOLE		0	0	355
APPLE INC	COM	037833100	5,996	43,783	SH		SOLE		0	0	43,783
BERKSHIRE HATHAWAY CLASS B	COM	084670702	2,420	8,708	SH		SOLE		0	0	8,708
BLACKSTONE GROUP INC	COM	09260D107	487	5,015	SH		SOLE		0	0	5,015
BROADMARK RLTY CAP INC	COM	11135B100	303	28,597	SH		SOLE		0	0	28,597
C S G SYSTEMS INTL	COM	126349109	283	6,000	SH		SOLE		0	0	6,000
CLOROX CO	COM	189054109	270	1,500	SH		SOLE		0	0	1,500
COMCAST CORP CLASS A	COM	20030N101	683	11,980	SH		SOLE		0	0	11,980
DANAHER CORP	COM	235851102	580	2,160	SH		SOLE		0	0	2,160
Ecolab Inc	COM	278865100	713	3,327	SH		SOLE		0	0	3,327
EXXON MOBIL CORP	COM	30231G102	1,422	22,539	SH		SOLE		0	0	22,539
FACEBOOK INC CLASS A	COM	30303M102	6,399	18,404	SH		SOLE		0	0	18,404
GLOBUS MEDICAL INC CLASS A	COM	379577208	8,613	111,098	SH		SOLE		0	0	111,098
GOLUB CAPITAL BDC INC	COM	38173M102	4,438	287,463	SH		SOLE		0	0	287,463
HCA HEALTHCARE INC	COM	40412C101	620	3,000	SH		SOLE		0	0	3,000
INTUIT INC	COM	461202103	245	500	SH		SOLE		0	0	500
JOHNSON & JOHNSON	COM	478160104	357	2,165	SH		SOLE		0	0	2,165
JPMORGAN CHASE & CO	COM	46625H100	2,713	17,445	SH		SOLE		0	0	17,445
KKR & CO INC	COM	48251W104	1,036	17,483	SH		SOLE		0	0	17,483
LILLY ELI & CO	COM	532457108	444	1,935	SH		SOLE		0	0	1,935
MERCK & CO. INC.	COM	58933Y105	273	3,512	SH		SOLE		0	0	3,512
MGM RESORTS INTL	COM	552953101	245	5,750	SH		SOLE		0	0	5,750
MICROSOFT CORP	COM	594918104	880	3,247	SH		SOLE		0	0	3,247
MIMEDX GROUP INC	COM	602496101	233	18,619	SH		SOLE		0	0	18,619
ONEOK INC	COM	682680103	347	6,239	SH		SOLE		0	0	6,239
PACIRA BIOSCIENCES INC	COM	695127100	212	3,500	SH		SOLE		0	0	3,500
PARKER-HANNIFIN CORP	COM	701094104	307	1,000	SH		SOLE		0	0	1,000
PHILLIPS 66	COM	718546104	215	2,500	SH		SOLE		0	0	2,500
PINTEREST INC CLASS A	COM	72352L106	661	8,370	SH		SOLE		0	0	8,370
QUALCOMM INC	COM	747525103	429	3,000	SH		SOLE		0	0	3,000
SLR INVESTMENT CORP	COM	83413U100	513	27,520	SH		SOLE		0	0	27,520
SQUARE INC CLASS A	COM	852234103	806	3,305	SH		SOLE		0	0	3,305
TELADOC INC	COM	87918A105	203	1,222	SH		SOLE		0	0	1,222
TELEFLEX INCORPORATE	COM	879369106	3,166	7,880	SH		SOLE		0	0	7,880
THE COCA-COLA CO	COM	191216100	944	17,450	SH		SOLE		0	0	17,450
VIACOMCBS INC CLASS B	COM	92556H206	815	18,028	SH		SOLE		0	0	18,028
WALT DISNEY CO	COM	254687106	352	2,000	SH		SOLE		0	0	2,000
WILLAMETTE VLY VINEY	COM	969136100	750	54,800	SH		SOLE		0	0	54,800
WILLIAMS COMPANIES	COM	969457100	234	8,809	SH		SOLE		0	0	8,809
Vanguard Intermediate Term Cor ETF	ETF	92206C870	248	2,584	SH		SOLE		0	0	2,584
JUSHI HLDGS INC FCLASS B	FGC	48213Y107	140	25,000	SH		SOLE		0	0	25,000
SPOTIFY TECHNOLOGY F	FGO	L8681T102	413	1,500	SH		SOLE		0	0	1,500
ENTERPRISE PRODS PART LP	MLP	293792107	315	13,061	SH		SOLE		0	0	13,061
MAGELLAN MIDSTREAM PA LP	MLP	559080106	223	4,564	SH		SOLE		0	0	4,564
AVALONBAY CMNTYS INC REIT	RET	053484101	868	4,160	SH		SOLE		0	0	4,160
BLACKSTONE MTG TR REIT	RET	09257W100	285	9,045	SH		SOLE		0	0	9,045
BlackRock Short Mat Bond ETF	ETF	46431W507	300	5,975	SH		SOLE		0	0	5,975
CHARLES SCHWAB US MC ETF	UIE	808524508	285	3,645	SH		SOLE		0	0	3,645
FIRST TRUST NORTH AMERICAN EN ETF IV	UIE	33738D101	811	33,146	SH		SOLE		0	0	33,146
INVESCO QQQ TRUST	UIE	46090E103	8,697	24,537	SH		SOLE		0	0	24,537
INVESCO WILDERHILL CLEANENERGY ETF	UIE	46137V134	466	5,000	SH		SOLE		0	0	5,000
ISHARES CORE MSCI EMERGING ETF IV	UIE	46434G103	627	9,365	SH		SOLE		0	0	9,365
ISHARES CORE MSCI EAFE ETF IV	UIE	46432F842	1,517	20,264	SH		SOLE		0	0	20,264
ISHARES CORE S&P 500 ETF IV	UIE	464287200	13,314	30,962	SH		SOLE		0	0	30,962
ISHARES CORE S&P MID CAPETF IV	UIE	464287507	1,347	5,013	SH		SOLE		0	0	5,013
ISHARES CORE S&P SMALL CAP ETF IV	UIE	464287804	2,293	20,298	SH		SOLE		0	0	20,298
ISHARES MICRO CAP ETF IV	UIE	464288869	477	3,123	SH		SOLE		0	0	3,123
iShares PFD & Income Securities ETF	ETF	464288687	201	5,150	SH		SOLE		0	0	5,150
ISHARES RUSSELL 1000 ETF IV	UIE	464287622	1,237	5,109	SH		SOLE		0	0	5,109
ISHARES RUSSELL 1000 GROWTH ETF IV	UIE	464287614	591	2,176	SH		SOLE		0	0	2,176
ISHARES RUSSELL 1000 VALUE ETF IV	UIE	464287598	1,417	8,934	SH		SOLE		0	0	8,934
ISHARES RUSSELL 2000 ETF IV	UIE	464287655	640	2,858	SH		SOLE		0	0	2,858
ISHARES S&P 500 GROWTH ETF IV	UIE	464287309	1,008	13,855	SH		SOLE		0	0	13,855
ISHARES US ENERGY ETF IV	UIE	464287796	1,328	45,653	SH		SOLE		0	0	45,653
JPMORGAN ULTRA SHORT INCOME ETF	UIE	46641Q837	1,883	37,112	SH		SOLE		0	0	37,112
PIMCO ACTIVE BOND ETF IV	UIE	72201R775	1,022	9,148	SH		SOLE		0	0	9,148
PROSHARES SHORT S&P500	UIE	74347B425	331	21,535	SH		SOLE		0	0	21,535
SCHWAB US LARGE CAP ETF	UIE	808524201	3,585	34,478	SH		SOLE		0	0	34,478
SCHWAB US SMALL CAP ETF	UIE	808524607	2,536	24,384	SH		SOLE		0	0	24,384
SELECT SECTOR HEALTH CARE SPD ETF IV	UIE	81369Y209	3,517	27,921	SH		SOLE		0	0	27,921
SELECT STR FINANCIAL SELECT S ETF IV	UIE	81369Y605	7,167	195,329	SH		SOLE		0	0	195,329
SPDR DOUBLELINE TTL RTRNTTCL ETF	UIE	78467V848	676	13,922	SH		SOLE		0	0	13,922
SPDR S&P 500 ETF IV	UIE	78462F103	574	1,342	SH		SOLE		0	0	1,342
TECHNOLOGY SELECT SECTORSPDR ETF IV	UIE	81369Y803	635	4,302	SH		SOLE		0	0	4,302
TORTOISE NORTH AMERICAN PIPELINE FUND	UIE	56167N720	309	13,708	SH		SOLE		0	0	13,708
VANECK VECTORS GOLD MINERS ETF	UIE	92189F106	219	6,450	SH		SOLE		0	0	6,450
VANGUARD FTSE DEVELOPED MATS ETF IV	UIE	921943858	385	7,567	SH		SOLE		0	0	7,567
VANGUARD FTSE EMERGING MARK ETF IV	UIE	922042858	587	10,894	SH		SOLE		0	0	10,894
VANGUARD LARGE CAP ETF IV	UIE	922908637	889	4,429	SH		SOLE		0	0	4,429
VANGUARD MID CAP GROWTH ETF IV	UIE	922908538	1,780	7,530	SH		SOLE		0	0	7,530
VANGUARD REAL ESTATE ETF IV	UIE	922908553	1,448	14,224	SH		SOLE		0	0	14,224
VANGUARD S&P 500 ETF IV	UIE	922908363	1,052	2,673	SH		SOLE		0	0	2,673
VANGUARD TOTAL STOCK MARKET E ETF IV	UIE	922908769	4,113	18,459	SH		SOLE		0	0	18,459
XTRACKERS MSCI EAFE HDGDEQY ETF IV	UIE	233051200	238	6,331	SH		SOLE		0	0	6,331
NOVUS CAPITAL CORP I UTS EXP	UNI	67012W203	272	26,900	SH		SOLE		0	0	26,900
CINEDIGM CORP CLASS A	COM	172406209	17	13,083	SH		SOLE		0	0	13,083