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
1/100 BERKSHIRE HTWY CLA100 SHS=1 WHOLE SH BRK A	COM	084990175	901	200	SH		SOLE		0	0	200
ABBVIE INC	COM	00287Y109	203	1,500	SH		SOLE		0	0	1,500
ADS TEC ENERGY PLC F	FGO	G0085J117	168	18,415	SH		SOLE		0	0	18,415
ALPHABET INC. CLASS A	COM	02079K305	568	196	SH		SOLE		0	0	196
ALPHABET INC. CLASS C	COM	02079K107	440	152	SH		SOLE		0	0	152
AMAZON.COM INC	COM	023135106	850	255	SH		SOLE		0	0	255
APOLLO SENIOR FLOATING R	CEM	037636107	4,177	259,299	SH		SOLE		0	0	259,299
AVALONBAY CMNTYS INC REIT	RET	053484101	937	3,710	SH		SOLE		0	0	3,710
BERKSHIRE HATHAWAY CLASS B	COM	084670702	2,663	8,908	SH		SOLE		0	0	8,908
BlackRock Short Mat Bond ETF	ETF	46431W507	328	6,573	SH		SOLE		0	0	6,573
BlackRock TCP Capital Co	COM	09259E108	338	25,000	SH		SOLE		0	0	25,000
BLACKSTONE INC	COM	09260D107	329	2,546	SH		SOLE		0	0	2,546
BLACKSTONE MTG TR REIT	RET	09257W100	301	9,723	SH		SOLE		0	0	9,723
BLACKSTONE STRATEGIC CRE	CEM	09257R101	1,168	86,595	SH		SOLE		0	0	86,595
BLOCK INC CLASS A	COM	852234103	534	3,305	SH		SOLE		0	0	3,305
BROADMARK RLTY CAP INC	COM	11135B100	270	28,597	SH		SOLE		0	0	28,597
BROOKFIELD ASSET MGM FCLASS A	FGC	112585104	634	10,500	SH		SOLE		0	0	10,500
C S G SYSTEMS INTL	COM	126349109	1,055	18,318	SH		SOLE		0	0	18,318
CBIZ INC	COM	124805102	430	11,000	SH		SOLE		0	0	11,000
CHARLES SCHWAB US MC ETF	UIE	808524508	294	3,653	SH		SOLE		0	0	3,653
CINEDIGM CORP CLASS A	COM	172406209	15	13,083	SH		SOLE		0	0	13,083
CLOROX CO	COM	189054109	262	1,500	SH		SOLE		0	0	1,500
CLOUDFLARE INC CLASS A	COM	18915M107	246	1,870	SH		SOLE		0	0	1,870
COMCAST CORP CLASS A	COM	20030N101	593	11,780	SH		SOLE		0	0	11,780
CYTODYN INC	COM	23283M101	37	37,500	SH		SOLE		0	0	37,500
DANAHER CORP	COM	235851102	711	2,160	SH		SOLE		0	0	2,160
Ecolab Inc	COM	278865100	530	2,254	SH		SOLE		0	0	2,254
EXXON MOBIL CORP	COM	30231G102	753	12,303	SH		SOLE		0	0	12,303
FIRST TRUST NORTH AMERICAN EN ETF IV	UIE	33738D101	610	24,456	SH		SOLE		0	0	24,456
GLOBUS MEDICAL INC CLASS A	COM	379577208	8,021	111,098	SH		SOLE		0	0	111,098
GOLUB CAPITAL BDC INC	COM	38173M102	3,403	220,411	SH		SOLE		0	0	220,411
GRAYSCALE BITCOIN TR BTC	CEM	389637109	663	19,352	SH		SOLE		0	0	19,352
GRAYSCALE ETHEREUM COM U	CEM	389638107	440	13,609	SH		SOLE		0	0	13,609
HCA HEALTHCARE INC	COM	40412C101	257	1,000	SH		SOLE		0	0	1,000
INTUIT INC	COM	461202103	322	500	SH		SOLE		0	0	500
INVESCO QQQ TRUST	UIE	46090E103	10,484	26,353	SH		SOLE		0	0	26,353
ISHARES CORE MSCI EMERGING ETF	UIE	46434G103	1,234	20,616	SH		SOLE		0	0	20,616
ISHARES CORE MSCI EAFE ETF	UIE	46432F842	1,738	23,289	SH		SOLE		0	0	23,289
ISHARES CORE S&P 500 ETF	UIE	464287200	16,160	33,880	SH		SOLE		0	0	33,880
ISHARES CORE S&P MID CAPETF IV	UIE	464287507	1,380	4,876	SH		SOLE		0	0	4,876
ISHARES CORE S&P SMALL CAP ETF IV	UIE	464287804	2,343	20,463	SH		SOLE		0	0	20,463
iShares High Yield Corporat Bond ETF	ETF	46434V407	217	4,794	SH		SOLE		0	0	4,794
ISHARES MICRO CAP ETF IV	UIE	464288869	436	3,123	SH		SOLE		0	0	3,123
ISHARES MSCI GLOBAL GOLDMINERS ETF	UIE	46434G855	419	15,530	SH		SOLE		0	0	15,530
iShares PFD & Income Securities ETF	ETF	464288687	233	5,917	SH		SOLE		0	0	5,917
ISHARES RUSSELL 1000 ETF IV	UIE	464287622	1,351	5,109	SH		SOLE		0	0	5,109
ISHARES RUSSELL 1000 GROWTH ETF IV	UIE	464287614	661	2,164	SH		SOLE		0	0	2,164
ISHARES RUSSELL 1000 VALUE ETF IV	UIE	464287598	2,189	13,035	SH		SOLE		0	0	13,035
ISHARES RUSSELL 2000 ETF	UIE	464287655	684	3,076	SH		SOLE		0	0	3,076
ISHARES S&P 500 GROWTH ETF IV	UIE	464287309	1,159	13,855	SH		SOLE		0	0	13,855
ISHARES US ENERGY ETF IV	UIE	464287796	1,374	45,653	SH		SOLE		0	0	45,653
JOHNSON & JOHNSON	COM	478160104	360	2,105	SH		SOLE		0	0	2,105
JPMORGAN CHASE & CO	COM	46625H100	1,738	10,975	SH		SOLE		0	0	10,975
JPMORGAN ULTRA SHORT INCOME ETF	UIE	46641Q837	1,164	23,052	SH		SOLE		0	0	23,052
JUSHI HLDGS INC FCLASS B	FGC	48213Y107	49	15,000	SH		SOLE		0	0	15,000
KKR & CO INC	COM	48251W104	1,302	17,483	SH		SOLE		0	0	17,483
LILLY ELI & CO	COM	532457108	546	1,975	SH		SOLE		0	0	1,975
MAGNITE INC	COM	55955D100	23	1,321	SH		SOLE		0	0	1,321
MERCK & CO. INC.	COM	58933Y105	261	3,412	SH		SOLE		0	0	3,412
META PLATFORMS INC CLASS A	COM	30303M102	3,717	11,050	SH		SOLE		0	0	11,050
MGM RESORTS INTL	COM	552953101	258	5,750	SH		SOLE		0	0	5,750
MICROSOFT CORP	COM	594918104	924	2,747	SH		SOLE		0	0	2,747
NORTHROP GRUMMAN CORP	COM	666807102	309	798	SH		SOLE		0	0	798
NUVEEN AMT FREE MNCPL CR	CEM	67071L106	194	10,818	SH		SOLE		0	0	10,818
NUVEEN AMT FREE QUALITY	CEM	670657105	469	30,038	SH		SOLE		0	0	30,038
NUVEEN FLOATG RATE INCM	CEM	6706EN100	2,710	267,548	SH		SOLE		0	0	267,548
NUVEEN NEW YORK QLTY MNC	CEM	67066X107	588	39,784	SH		SOLE		0	0	39,784
NUVEEN NY AMT FREE QLT M	CEM	670656107	1,998	144,857	SH		SOLE		0	0	144,857
NUVEEN SENIOR INCOME CF	CEM	67067Y104	1,566	265,507	SH		SOLE		0	0	265,507
ONEOK INC	COM	682680103	330	5,620	SH		SOLE		0	0	5,620
PACIRA BIOSCIENCES INC	COM	695127100	211	3,500	SH		SOLE		0	0	3,500
PARKER-HANNIFIN CORP	COM	701094104	318	1,000	SH		SOLE		0	0	1,000
PFIZER INC	COM	717081103	202	3,414	SH		SOLE		0	0	3,414
PIMCO ACTIVE BOND ETF	UIE	72201R775	1,002	9,148	SH		SOLE		0	0	9,148
PINTEREST INC CLASS A	COM	72352L106	304	8,370	SH		SOLE		0	0	8,370
PPG INDUSTRIES INC	COM	693506107	1,142	6,623	SH		SOLE		0	0	6,623
QUALCOMM INC	COM	747525103	549	3,000	SH		SOLE		0	0	3,000
Rivernorth Opportunities	CEM	76881Y109	393	25,000	SH		SOLE		0	0	25,000
SABA CAPITAL INCOME & OP	CEM	78518H103	2,041	451,582	SH		SOLE		0	0	451,582
SCHWAB US LARGE CAP ETF	UIE	808524201	4,051	35,595	SH		SOLE		0	0	35,595
SCHWAB US SMALL CAP ETF	UIE	808524607	2,829	27,631	SH		SOLE		0	0	27,631
SELECT SECTOR HEALTH CARE SPD ETF IV	UIE	81369Y209	5,003	35,508	SH		SOLE		0	0	35,508
SELECT STR FINANCIAL SELECT S ETF IV	UIE	81369Y605	9,249	236,845	SH		SOLE		0	0	236,845
SIGNIFY HEALTH INC	COM	82671G100	198	13,893	SH		SOLE		0	0	13,893
SLR INVESTMENT CORP	COM	83413U100	507	27,520	SH		SOLE		0	0	27,520
SPDR DOUBLELINE TTL RTRNTTCL ETF	UIE	78467V848	611	12,911	SH		SOLE		0	0	12,911
SPDR Portfolio Mortgage Backed Bond ETF	ETF	78464A383	224	8,820	SH		SOLE		0	0	8,820
SPDR S&P 500 ETF	UIE	78462F103	341	717	SH		SOLE		0	0	717
SPOTIFY TECHNOLOGY F	FGO	L8681T102	351	1,500	SH		SOLE		0	0	1,500
TECHNOLOGY SELECT SECTORSPDR ETF IV	UIE	81369Y803	771	4,433	SH		SOLE		0	0	4,433
TELEFLEX INCORPORATE	COM	879369106	2,588	7,880	SH		SOLE		0	0	7,880
TESLA INC	PUT	88160R951	2,550	3,400	SH	Put	SOLE		0	0	3,400
TESLA INC	COM	88160R101	3,644	3,448	SH		SOLE		0	0	3,448
THE COCA-COLA CO	COM	191216100	1,033	17,450	SH		SOLE		0	0	17,450
THYSSENKRUPP AG FSPONSORED ADR 1 ADR REPS 1 ORD SHS	ADR	88629Q207	218	20,000	SH		SOLE		0	0	20,000
TORTOISE ENERGY INFRA CO	CEM	89147L886	345	12,355	SH		SOLE		0	0	12,355
TORTOISE NORTH AMERICAN PIPELINE FUND	UIE	56167N720	305	13,708	SH		SOLE		0	0	13,708
TRIMAS CORP	COM	896215209	426	11,500	SH		SOLE		0	0	11,500
VANGUARD FTSE DEVELOPED MKTS ETF IV	UIE	921943858	386	7,567	SH		SOLE		0	0	7,567
VANGUARD FTSE EMERGING MARK ETF IV	UIE	922042858	539	10,894	SH		SOLE		0	0	10,894
Vanguard Intermediate Term Cor ETF	ETF	92206C870	259	2,794	SH		SOLE		0	0	2,794
VANGUARD LARGE CAP ETF	UIE	922908637	979	4,429	SH		SOLE		0	0	4,429
VANGUARD MID CAP GROWTH ETF IV	UIE	922908538	1,917	7,530	SH		SOLE		0	0	7,530
VANGUARD REAL ESTATE ETF IV	UIE	922908553	1,663	14,336	SH		SOLE		0	0	14,336
VANGUARD S&P 500 ETF	UIE	922908363	1,179	2,701	SH		SOLE		0	0	2,701
VANGUARD TOTAL STOCK MARKET ETF	UIE	922908769	4,481	18,561	SH		SOLE		0	0	18,561
VIACOMCBS INC CLASS B	COM	92556H206	410	13,593	SH		SOLE		0	0	13,593
WILLAMETTE VLY VINEY	COM	969136100	476	54,800	SH		SOLE		0	0	54,800
XTRACKERS MSCI EAFE HDGDEQY ETF	UIE	233051200	249	6,331	SH		SOLE		0	0	6,331