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	960	300	SH		SOLE		0	0	300
ALPHABET INC. CLASS A	COM	02079K305	283	193	SH		SOLE		0	0	193
ALPHABET INC. CLASS C	COM	02079K107	216	147	SH		SOLE		0	0	147
AMAZON.COM INC	COM	023135106	838	266	SH		SOLE		0	0	266
ANNALY CAPITAL MGMT REIT	RET	035710409	73	10,310	SH		SOLE		0	0	10,310
APOLLO SENIOR FLOATING R	CEM	037636107	4,342	338,675	SH		SOLE		0	0	338,675
APPLE INC	COM	037833100	3,060	26,423	SH		SOLE		0	0	26,423
BERKSHIRE HATHAWAY CLASS B	COM	084670702	2,307	10,835	SH		SOLE		0	0	10,835
BLACKROCK FLOAT RATE INC	CEM	09255X100	3,860	335,672	SH		SOLE		0	0	335,672
BLACKSTONE GROUP INC	COM	09260D107	270	5,176	SH		SOLE		0	0	5,176
BLACKSTONE GSO LONG SHO	CEM	09257D102	465	36,197	SH		SOLE		0	0	36,197
BLACKSTONE GSO STRATEGIC	CEM	09257R101	1,137	93,059	SH		SOLE		0	0	93,059
BLACKSTONE MTG TR REIT	RET	09257W100	202	9,045	SH		SOLE		0	0	9,045
BROOKFIELD ASSET MGM FCLASS A	FGC	112585104	347	10,500	SH		SOLE		0	0	10,500
C S G SYSTEMS INTL	COM	126349109	246	6,000	SH		SOLE		0	0	6,000
CBIZ INC	COM	124805102	252	11,000	SH		SOLE		0	0	11,000
CHARLES SCHWAB US MC ETF	UIE	808524508	358	6,446	SH		SOLE		0	0	6,446
CINEDIGM CORP CLASS A	COM	172406209	7	13,083	SH		SOLE		0	0	13,083
CLOROX CO	COM	189054109	315	1,500	SH		SOLE		0	0	1,500
COMCAST CORP CLASS A	COM	20030N101	533	11,530	SH		SOLE		0	0	11,530
CURALEAF HOLDINGS INC F	FGC	23126M102	75	10,336	SH		SOLE		0	0	10,336
CYTODYN INC	COM	23283M101	88	30,000	SH		SOLE		0	0	30,000
DANAHER CORP	COM	235851102	465	2,160	SH		SOLE		0	0	2,160
EATON VANCE FLOATING RAT	CEM	278279104	1,976	166,364	SH		SOLE		0	0	166,364
EATON VANCE SENIOR INCOM	CEM	27826S103	4,604	784,320	SH		SOLE		0	0	784,320
ENTERPRISE PRODS PART LP	MLP	293792107	232	14,711	SH		SOLE		0	0	14,711
EXTRACTION OIL & GAS	COM	30227M105	1	16,523	SH		SOLE		0	0	16,523
EXXON MOBIL CORP	COM	30231G102	2,327	67,776	SH		SOLE		0	0	67,776
FACEBOOK INC CLASS A	COM	30303M102	4,755	18,154	SH		SOLE		0	0	18,154
FIRST TRUST NORTH AMERICAN ENERG ETF	UIE	33738D101	765	40,164	SH		SOLE		0	0	40,164
GENERAL ELECTRIC CO	COM	369604103	90	14,400	SH		SOLE		0	0	14,400
GLOBUS MEDICAL INC CLASS A	COM	379577208	5,502	111,098	SH		SOLE		0	0	111,098
GOLUB CAPITAL BDC INC	COM	38173M102	3,450	260,603	SH		SOLE		0	0	260,603
HARVEST HEALTH AND REC F	FGC	41755M102	13	11,988	SH		SOLE		0	0	11,988
HCA HEALTHCARE INC	COM	40412C101	249	2,000	SH		SOLE		0	0	2,000
INVESCO QQQ TRUST	UIE	46090E103	4,399	15,831	SH		SOLE		0	0	15,831
ISHARES CORE MSCI EMERGING ETF	UIE	46434G103	494	9,352	SH		SOLE		0	0	9,352
ISHARES CORE MSCI EAFE ETF	UIE	46432F842	934	15,492	SH		SOLE		0	0	15,492
ISHARES CORE S&P SMALL-CAP ETF	UIE	464287804	1,843	26,239	SH		SOLE		0	0	26,239
ISHARES CORE S&P 500 ETF	UIE	464287200	11,290	33,596	SH		SOLE		0	0	33,596
ISHARES CORE S&P MID-CAPETF	UIE	464287507	833	4,495	SH		SOLE		0	0	4,495
ISHARES MICRO CAP ETF IV	UIE	464288869	328	3,624	SH		SOLE		0	0	3,624
ISHARES RUSSELL 1000 ETF	UIE	464287622	917	4,899	SH		SOLE		0	0	4,899
ISHARES RUSSELL 1000 GROWTH ETF	UIE	464287614	371	1,711	SH		SOLE		0	0	1,711
ISHARES RUSSELL 1000 VALUE ETF	UIE	464287598	910	7,701	SH		SOLE		0	0	7,701
ISHARES RUSSELL 2000 ETF	UIE	464287655	371	2,474	SH		SOLE		0	0	2,474
ISHARES S&P 500 GROWTH ETF	UIE	464287309	733	3,170	SH		SOLE		0	0	3,170
ISHARES US ENERGY ETF	UIE	464287796	729	45,653	SH		SOLE		0	0	45,653
JOHNSON & JOHNSON	COM	478160104	370	2,482	SH		SOLE		0	0	2,482
JPMORGAN CHASE & CO	COM	46625H100	1,972	20,488	SH		SOLE		0	0	20,488
JPMORGAN ULTRA SHORT INCOME ETF	UIE	46641Q837	17,088	336,404	SH		SOLE		0	0	336,404
JPMORGAN ULTRA SHRT MUNCIPL INCM ETF	UIE	46641Q654	201	3,950	SH		SOLE		0	0	3,950
KKR & CO INC	COM	48251W104	612	17,835	SH		SOLE		0	0	17,835
LILLY ELI & CO	COM	532457108	286	1,935	SH		SOLE		0	0	1,935
MICROSOFT CORP	COM	594918104	627	2,981	SH		SOLE		0	0	2,981
MIMEDX GROUP INC	COM	602496101	120	18,805	SH		SOLE		0	0	18,805
NUVEEN AMT FREE MNCPL CR	CEM	67071L106	405	25,837	SH		SOLE		0	0	25,837
NUVEEN AMT FREE QUALITY	CEM	670657105	607	42,315	SH		SOLE		0	0	42,315
NUVEEN FLOATG RATE INCM	CEM	6706EN100	2,824	344,222	SH		SOLE		0	0	344,222
NUVEEN FLOATING RATE INC	CEM	67072T108	2,258	271,702	SH		SOLE		0	0	271,702
NUVEEN NEW JERSEY QLTY M	CEM	67069Y102	678	50,100	SH		SOLE		0	0	50,100
NUVEEN NEW YORK QLTY MNC	CEM	67066X107	564	41,272	SH		SOLE		0	0	41,272
NUVEEN NY AMT FREE QLT M	CEM	670656107	1,933	150,324	SH		SOLE		0	0	150,324
NUVEEN SENIOR INCOME CF	CEM	67067Y104	2,395	495,431	SH		SOLE		0	0	495,431
NUVEEN SHORT DURATION CR	CEM	67074X107	1,306	105,467	SH		SOLE		0	0	105,467
PARTY CITY HOLDCO INCORP	COM	702149105	218	83,680	SH		SOLE		0	0	83,680
PIMCO ACTIVE BOND ETF	UIE	72201R775	1,036	9,214	SH		SOLE		0	0	9,214
PROSHARES SHORT RUSSELL 2000 ETF	UIE	74348A210	2,376	70,000	SH		SOLE		0	0	70,000
PROSHARES SHORT S&P500	UIE	74347B425	6,513	320,535	SH		SOLE		0	0	320,535
QUALCOMM INC	COM	747525103	353	3,000	SH		SOLE		0	0	3,000
ROYAL DUTCH SHELL FSPONSORED ADR 1 ADR REPS 2 ORD SHS	ADR	780259206	264	10,493	SH		SOLE		0	0	10,493
SCHWAB US LARGE CAP ETF IV	UIE	808524201	4,148	51,446	SH		SOLE		0	0	51,446
SCHWAB US SMALL CAP ETF	UIE	808524607	1,969	28,813	SH		SOLE		0	0	28,813
SELECT STR FINANCIAL SELECT SPDR ETF	UIE	81369Y605	260	10,810	SH		SOLE		0	0	10,810
SHILOH INDUSTRIES	COM	824543102	2	20,000	SH		SOLE		0	0	20,000
SOLAR CAPITAL LTD	COM	83413U100	436	27,520	SH		SOLE		0	0	27,520
SPDR DOUBLELINE TTL RTRNTTCL ETF	UIE	78467V848	893	18,101	SH		SOLE		0	0	18,101
SPDR S&P 500 ETF	UIE	78462F103	548	1,635	SH		SOLE		0	0	1,635
SPOTIFY TECHNOLOGY F	FGO	L8681T102	364	1,500	SH		SOLE		0	0	1,500
SQUARE INC CLASS A	COM	852234103	698	4,295	SH		SOLE		0	0	4,295
TECHNOLOGY SELECT SECTORSPDR ETF IV	UIE	81369Y803	474	4,059	SH		SOLE		0	0	4,059
TELEFLEX INCORPORATE	COM	879369106	2,683	7,880	SH		SOLE		0	0	7,880
TESLA INC	COM	88160R101	337	785	SH		SOLE		0	0	785
THE COCA-COLA CO	COM	191216100	800	16,200	SH		SOLE		0	0	16,200
TORTOISE NORTH AMERICAN PIPELINE FUND	UIE	56167N720	205	13,708	SH		SOLE		0	0	13,708
TRIMAS CORP	COM	896215209	262	11,500	SH		SOLE		0	0	11,500
VANGUARD FTSE DEVELOPED MATS ETF IV	UIE	921943858	476	11,640	SH		SOLE		0	0	11,640
VANGUARD FTSE EMERGING MARK ETF IV	UIE	922042858	471	10,894	SH		SOLE		0	0	10,894
Vanguard Intermediate Term Cor ETF	UIE	92206C870	248	2,584	SH		SOLE		0	0	2,584
VANGUARD LARGE CAP ETF	UIE	922908637	693	4,429	SH		SOLE		0	0	4,429
VANGUARD MID CAP GROWTH ETF	UIE	922908538	1,102	6,120	SH		SOLE		0	0	6,120
VANGUARD REAL ESTATE ETF IV	UIE	922908553	1,123	14,224	SH		SOLE		0	0	14,224
VANGUARD S&P 500 ETF	UIE	922908363	230	749	SH		SOLE		0	0	749
VANGUARD TOTAL STOCK MARKET ETF	UIE	922908769	3,061	17,973	SH		SOLE		0	0	17,973
VOYA PRIME RATE CF	CEM	92913A100	7,233	1,640,200	SH		SOLE		0	0	1,640,200
WALT DISNEY CO	COM	254687106	248	2,000	SH		SOLE		0	0	2,000
WILLAMETTE VLY VINEY	COM	969136100	345	56,121	SH		SOLE		0	0	56,121
PUT SPDR S&P 500 212 EXP 01/15/21	PUT	78462F953	7,081	33,400	SH		SOLE		0	0	33,400