# EDGAR Filing Document

**Accession Number:** 0001752762
**File Stem:** 0001437749-26-015365
**Filing Date:** 2026-5
**Character Count:** 17790
**Document Hash:** e875de09a0278bd88e59152afa159aaf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-26-015365.hdr.sgml**: 20260507

**ACCESSION NUMBER**: 0001437749-26-015365

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260507

**DATE AS OF CHANGE**: 20260507

**EFFECTIVENESS DATE**: 20260507

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Next Capital Management LLC
- **CENTRAL INDEX KEY:** 0001752762

**ORGANIZATION NAME:**
- **EIN:** 134044755
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-19131
- **FILM NUMBER:** 26951133

**BUSINESS ADDRESS:**
- **STREET 1:** ELEVEN TIMES SQUARE
- **STREET 2:** 15TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 2124331111

**MAIL ADDRESS:**
- **STREET 1:** ELEVEN TIMES SQUARE
- **STREET 2:** 15TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Next Capital Management LLC<br>**Address:** ELEVEN TIMES SQUARE<br>15TH FLOOR<br>NEW YORK, NY 10036

**Form 13F File Number:** 028-19131

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Catherine A. Sanford<br>**Title:** Chief Operating Officer<br>**Phone:** 212-433-1106

**Signature, Place, and Date of Signing:**

/s/ Catherine A. Sanford  New York, NY  05-06-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 134

**Form 13F Information Table Value Total:** $330186588

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| Ab Active Etfs Inc (international Low Volatility Equity Etf) | UIE | 00039J822 |  | 256515 | 6013 | SH |  | SOLE |  | 0 | 0 | 6013 |
| Achieve Life | COM | 004468500 |  | 102885 | 34995 | SH |  | SOLE |  | 0 | 0 | 34995 |
| ACV AUCTIONS INC        CLASS                  A | COM | 00091G104 |  | 70833 | 16706 | SH |  | SOLE |  | 0 | 0 | 16706 |
| ALPHABET INC            CLASS            CLASS A | COM | 02079K305 |  | 1920606 | 6679 | SH |  | SOLE |  | 0 | 0 | 6679 |
| ALPHABET INC            CLASS            CLASS C | COM | 02079K107 |  | 1824716 | 6361 | SH |  | SOLE |  | 0 | 0 | 6361 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 243235 | 3683 | SH |  | SOLE |  | 0 | 0 | 3683 |
| AMAZON.COM INC | COM | 023135106 |  | 8882716 | 42650 | SH |  | SOLE |  | 0 | 0 | 42650 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 740864 | 5652 | SH |  | SOLE |  | 0 | 0 | 5652 |
| AMRIZE LTD             F | COM | H2927K103 |  | 210075 | 3750 | SH |  | SOLE |  | 0 | 0 | 3750 |
| APOLLO GLOBAL MGMT INC NCLASS            CLASS A | COM | 03769M106 |  | 2435975 | 21863 | SH |  | SOLE |  | 0 | 0 | 21863 |
| APPLE INC | COM | 037833100 |  | 6756683 | 26623 | SH |  | SOLE |  | 0 | 0 | 26623 |
| ARK GENOMIC REVOLUTION  ETF | UIE | 00214Q302 |  | 344675 | 13046 | SH |  | SOLE |  | 0 | 0 | 13046 |
| ASTERA LABS INC | COM | 04626A103 |  | 567947 | 5182 | SH |  | SOLE |  | 0 | 0 | 5182 |
| BERKSHIRE HATHAWAY      CLASS                  B | COM | 084670702 |  | 4002506 | 8352 | SH |  | SOLE |  | 0 | 0 | 8352 |
| BLACKROCK TCP CAP CORP | COM | 09259E108 |  | 11008865 | 3049547 | SH |  | SOLE |  | 0 | 0 | 3049547 |
| BLACKSTONE INC | COM | 09260D107 |  | 2566843 | 22322 | SH |  | SOLE |  | 0 | 0 | 22322 |
| BLUE OWL CAP CORP | COM | 69121K104 |  | 15789349 | 1418819 | SH |  | SOLE |  | 0 | 0 | 1418819 |
| BLUE OWL CAP INC        CLASS                  A | COM | 09581B103 |  | 264825 | 29006 | SH |  | SOLE |  | 0 | 0 | 29006 |
| BOOKING HLDGS INC       FORWARD SPLIT           WITH STOCK SPLIT SHARES | COM | 09857L108 |  | 202095 | 48 | SH |  | SOLE |  | 0 | 0 | 48 |
| BROOKFIELD CORP        FCLASS                  A | COM | 11271J107 |  | 637403 | 15750 | SH |  | SOLE |  | 0 | 0 | 15750 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 304293 | 1668 | SH |  | SOLE |  | 0 | 0 | 1668 |
| CARIBOU BIOSCIENCES INC | COM | 142038108 |  | 38000 | 20000 | SH |  | SOLE |  | 0 | 0 | 20000 |
| CATERPILLAR INC | COM | 149123101 |  | 379026 | 535 | SH |  | SOLE |  | 0 | 0 | 535 |
| CHARLES SCHWAB CORP | COM | 808513105 |  | 1590424 | 16923 | SH |  | SOLE |  | 0 | 0 | 16923 |
| CORNING INC | COM | 219350105 |  | 271940 | 2000 | SH |  | SOLE |  | 0 | 0 | 2000 |
| CYTODYN INC | COM | 23283M101 |  | 6850 | 25000 | SH |  | SOLE |  | 0 | 0 | 25000 |
| ECOLAB INC | COM | 278865100 |  | 778109 | 2925 | SH |  | SOLE |  | 0 | 0 | 2925 |
| ELI LILLY AND CO | COM | 532457108 |  | 1626153 | 1768 | SH |  | SOLE |  | 0 | 0 | 1768 |
| ENTERPRISE PRODS PART LP | COM | 293792107 |  | 542928 | 14348 | SH |  | SOLE |  | 0 | 0 | 14348 |
| ERMENEGILDO ZEGNA N V  F | COM | N30577105 |  | 190426 | 18275 | SH |  | SOLE |  | 0 | 0 | 18275 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 973000 | 5735 | SH |  | SOLE |  | 0 | 0 | 5735 |
| FIRST TRUST NORTH       AMERICAN ENERGY         INFRASTRUCTURE FUND | UIE | 33738D101 |  | 862416 | 19753 | SH |  | SOLE |  | 0 | 0 | 19753 |
| GE VERNOVA INC | COM | 36828A101 |  | 441687 | 506 | SH |  | SOLE |  | 0 | 0 | 506 |
| GLOBAL X ARTIFICIAL     INTELLIGENCE           TECHNOLOGY ETF | UIE | 37954Y632 |  | 226256 | 4848 | SH |  | SOLE |  | 0 | 0 | 4848 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 1298595 | 1535 | SH |  | SOLE |  | 0 | 0 | 1535 |
| GOLUB CAP BDC INC | COM | 38173M102 |  | 7180815 | 567205 | SH |  | SOLE |  | 0 | 0 | 567205 |
| HOME DEPOT INC | COM | 437076102 |  | 222001 | 675 | SH |  | SOLE |  | 0 | 0 | 675 |
| HONEYWELL INTL INC | COM | 438516106 |  | 588130 | 2602 | SH |  | SOLE |  | 0 | 0 | 2602 |
| ILLUMINA INC | COM | 452327109 |  | 441024 | 3578 | SH |  | SOLE |  | 0 | 0 | 3578 |
| INVESCO NASDAQ 100 ETF | UIE | 46138G649 |  | 2649040 | 11148 | SH |  | SOLE |  | 0 | 0 | 11148 |
| INVESCO QQQ TR | COM | 46090E103 |  | 11596000 | 20091 | SH |  | SOLE |  | 0 | 0 | 20091 |
| INVESCO S 500 EQUAL   WEIGHT ETF | UIE | 46137V357 |  | 322928 | 1683 | SH |  | SOLE |  | 0 | 0 | 1683 |
| INVESCO S 500 QUALITY ETF | UIE | 46137V241 |  | 716410 | 9528 | SH |  | SOLE |  | 0 | 0 | 9528 |
| ISHARES CORE MSCI       EMERGING MARKETS ETF | UIE | 46434G103 |  | 10568573 | 151521 | SH |  | SOLE |  | 0 | 0 | 151521 |
| ISHARES CORE MSCI EAFE  ETF | UIE | 46432F842 |  | 14462177 | 159750 | SH |  | SOLE |  | 0 | 0 | 159750 |
| iShares Core MSCI Totl Intl STCK ETF | UIE | 46432F834 |  | 429908 | 4962 | SH |  | SOLE |  | 0 | 0 | 4962 |
| ISHARES CORE S        SMALL-CAP ETF | UIE | 464287804 |  | 6184360 | 49749 | SH |  | SOLE |  | 0 | 0 | 49749 |
| ISHARES CORE S 500    ETF | UIE | 464287200 |  | 46115840 | 70599 | SH |  | SOLE |  | 0 | 0 | 70599 |
| ISHARES CORE S MID-CAPETF | UIE | 464287507 |  | 6224495 | 92174 | SH |  | SOLE |  | 0 | 0 | 92174 |
| ISHARES CORE S U.S.   VALUE ETF | UIE | 464287663 |  | 2000059 | 19560 | SH |  | SOLE |  | 0 | 0 | 19560 |
| ISHARES EXPANDED        TECH-SOFTWARE SECTOR ETF | UIE | 464287515 |  | 769337 | 9611 | SH |  | SOLE |  | 0 | 0 | 9611 |
| ISHARES MICRO-CAP ETF | UIE | 464288869 |  | 498462 | 3123 | SH |  | SOLE |  | 0 | 0 | 3123 |
| ISHARES MSCI ACWI EX    U.S. ETF | UIE | 464288240 |  | 681893 | 9959 | SH |  | SOLE |  | 0 | 0 | 9959 |
| ISHARES MSCI EAFE ETF | UIE | 464287465 |  | 1166461 | 12009 | SH |  | SOLE |  | 0 | 0 | 12009 |
| ISHARES MSCI EMERGING   MARKETS ETF | UIE | 464287234 |  | 2079855 | 36624 | SH |  | SOLE |  | 0 | 0 | 36624 |
| ISHARES RUSSELL 1000    ETF | UIE | 464287622 |  | 4261431 | 11952 | SH |  | SOLE |  | 0 | 0 | 11952 |
| ISHARES RUSSELL 1000    GROWTH ETF | UIE | 464287614 |  | 9119047 | 21386 | SH |  | SOLE |  | 0 | 0 | 21386 |
| ISHARES RUSSELL 1000    VALUE ETF | UIE | 464287598 |  | 5996732 | 28065 | SH |  | SOLE |  | 0 | 0 | 28065 |
| ISHARES RUSSELL 2000    ETF | UIE | 464287655 |  | 1128716 | 4551 | SH |  | SOLE |  | 0 | 0 | 4551 |
| ISHARES RUSSELL 2000    VALUE ETF | UIE | 464287630 |  | 359842 | 1898 | SH |  | SOLE |  | 0 | 0 | 1898 |
| ISHARES RUSSELL MID-CAP GROWTH ETF | UIE | 464287481 |  | 1491733 | 11643 | SH |  | SOLE |  | 0 | 0 | 11643 |
| ISHARES RUSSELL MID-CAP VALUE ETF | UIE | 464287473 |  | 540987 | 3712 | SH |  | SOLE |  | 0 | 0 | 3712 |
| ISHARES S 500 GROWTH  ETF | UIE | 464287309 |  | 7677790 | 67879 | SH |  | SOLE |  | 0 | 0 | 67879 |
| ISHARES S SMALL-CAP   600 VALUE ETF | UIE | 464287879 |  | 651001 | 5496 | SH |  | SOLE |  | 0 | 0 | 5496 |
| ISHARES U.S. ENERGY ETF | UIE | 464287796 |  | 356235 | 5500 | SH |  | SOLE |  | 0 | 0 | 5500 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 1351753 | 5530 | SH |  | SOLE |  | 0 | 0 | 5530 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 968585 | 3293 | SH |  | SOLE |  | 0 | 0 | 3293 |
| JPMORGAN ULTRA-SHORT    INCOME ETF | UIE | 46641Q837 |  | 1093056 | 21598 | SH |  | SOLE |  | 0 | 0 | 21598 |
| KKR  CO INC | COM | 48251W104 |  | 4418818 | 47771 | SH |  | SOLE |  | 0 | 0 | 47771 |
| KRANESHARES CSI CHINA   INTERNET ETF | UIE | 500767306 |  | 1393639 | 49020 | SH |  | SOLE |  | 0 | 0 | 49020 |
| MASTERCARD INC          CLASS            CLASS A | COM | 57636Q104 |  | 205471 | 411 | SH |  | SOLE |  | 0 | 0 | 411 |
| MAYS J W INC | COM | 578473100 |  | 293113 | 7326 | SH |  | SOLE |  | 0 | 0 | 7326 |
| MERCK  CO. INC. | COM | 58933Y105 |  | 209310 | 1739 | SH |  | SOLE |  | 0 | 0 | 1739 |
| META PLATFORMS INC      CLASS            CLASS A | COM | 30303M102 |  | 9323703 | 16296 | SH |  | SOLE |  | 0 | 0 | 16296 |
| MGM RESORTS INTL | COM | 552953101 |  | 213919 | 5780 | SH |  | SOLE |  | 0 | 0 | 5780 |
| MICROSOFT CORP | COM | 594918104 |  | 2092735 | 5653 | SH |  | SOLE |  | 0 | 0 | 5653 |
| MIDCAP FINL INVESTME | COM | 03761U502 |  | 21037371 | 1871652 | SH |  | SOLE |  | 0 | 0 | 1871652 |
| MONGODB INC             CLASS            CLASS A | COM | 60937P106 |  | 1073316 | 4385 | SH |  | SOLE |  | 0 | 0 | 4385 |
| NETFLIX INC | COM | 64110L106 |  | 571035 | 5939 | SH |  | SOLE |  | 0 | 0 | 5939 |
| NEW MTN FIN CORP | COM | 647551100 |  | 230317 | 29680 | SH |  | SOLE |  | 0 | 0 | 29680 |
| NUVEEN FLOATING RATE INC | COM | 67072T108 |  | 175983 | 23402 | SH |  | SOLE |  | 0 | 0 | 23402 |
| NVIDIA CORP | COM | 67066G104 |  | 3938718 | 22584 | SH |  | SOLE |  | 0 | 0 | 22584 |
| ONEOK INC NEW | COM | 682680103 |  | 712273 | 7880 | SH |  | SOLE |  | 0 | 0 | 7880 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 926573 | 1035 | SH |  | SOLE |  | 0 | 0 | 1035 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 559127 | 3380 | SH |  | SOLE |  | 0 | 0 | 3380 |
| PHILLIPS 66 | COM | 718546104 |  | 316629 | 1738 | SH |  | SOLE |  | 0 | 0 | 1738 |
| PPG INDS INC | COM | 693506107 |  | 538355 | 5037 | SH |  | SOLE |  | 0 | 0 | 5037 |
| QUALCOMM INC | COM | 747525103 |  | 420982 | 3269 | SH |  | SOLE |  | 0 | 0 | 3269 |
| Rayonier Advanced Ma | COM | 75508B104 |  | 569242 | 51422 | SH |  | SOLE |  | 0 | 0 | 51422 |
| RIVERNORTH/DOUBLELINE ST | COM | 76882G107 |  | 422686 | 55109 | SH |  | SOLE |  | 0 | 0 | 55109 |
| SABA CAPITAL INCOME  OP | COM | 78518H202 |  | 599368 | 88927 | SH |  | SOLE |  | 0 | 0 | 88927 |
| SALESFORCE INC | COM | 79466L302 |  | 2118705 | 11350 | SH |  | SOLE |  | 0 | 0 | 11350 |
| SCHWAB FUNDAMENTAL U.S. LARGE COMPANY ETF | UIE | 808524771 |  | 3565016 | 128008 | SH |  | SOLE |  | 0 | 0 | 128008 |
| SCHWAB INTERNATIONAL    EQUITY ETF | UIE | 808524805 |  | 202733 | 8191 | SH |  | SOLE |  | 0 | 0 | 8191 |
| SCHWAB U.S. BROAD MARKETETF | UIE | 808524102 |  | 833776 | 33218 | SH |  | SOLE |  | 0 | 0 | 33218 |
| SCHWAB U.S. DIVIDEND    EQUITY ETF | UIE | 808524797 |  | 1255411 | 40920 | SH |  | SOLE |  | 0 | 0 | 40920 |
| SCHWAB U.S. LARGE-CAP   ETF | UIE | 808524201 |  | 2925793 | 114110 | SH |  | SOLE |  | 0 | 0 | 114110 |
| SCHWAB U.S. MID-CAP ETF | UIE | 808524508 |  | 315040 | 10176 | SH |  | SOLE |  | 0 | 0 | 10176 |
| SCHWAB U.S. SMALL-CAP   ETF | UIE | 808524607 |  | 3137436 | 107890 | SH |  | SOLE |  | 0 | 0 | 107890 |
| SERVE ROBOTICS INC | COM | 81758H106 |  | 223027 | 26425 | SH |  | SOLE |  | 0 | 0 | 26425 |
| SLR INVESTMENT CORP | COM | 83413U100 |  | 393811 | 27520 | SH |  | SOLE |  | 0 | 0 | 27520 |
| SPDR GOLD SHARES | UIE | 78463V107 |  | 851544 | 1979 | SH |  | SOLE |  | 0 | 0 | 1979 |
| SPOTIFY TECHNOLOGY S A F | COM | L8681T102 |  | 439328 | 906 | SH |  | SOLE |  | 0 | 0 | 906 |
| STATE STREET FINANCIAL  SELECT SECTOR SPDR ETF | UIE | 81369Y605 |  | 1703650 | 34508 | SH |  | SOLE |  | 0 | 0 | 34508 |
| STATE STREET HEALTH CARESELECT SECTOR SPDR ETF | UIE | 81369Y209 |  | 2639170 | 18001 | SH |  | SOLE |  | 0 | 0 | 18001 |
| STATE STREET SPDR S   500 ETF TRUST | UIE | 78462F103 |  | 4398396 | 6759 | SH |  | SOLE |  | 0 | 0 | 6759 |
| STATE STREET SPDR S   BIOTECH ETF | UIE | 78464A870 |  | 255460 | 2000 | SH |  | SOLE |  | 0 | 0 | 2000 |
| STATE STREET TECHNOLOGY SELECT SECTOR SPDR ETF | UIE | 81369Y803 |  | 1113342 | 8377 | SH |  | SOLE |  | 0 | 0 | 8377 |
| Terawulf Inc Com | COM | 88080T104 |  | 234920 | 16280 | SH |  | SOLE |  | 0 | 0 | 16280 |
| THE COCA-COLA CO | COM | 191216100 |  | 1263267 | 16611 | SH |  | SOLE |  | 0 | 0 | 16611 |
| TORTOISE ENERGY INFRASTR | COM | 89147L886 |  | 487035 | 9770 | SH |  | SOLE |  | 0 | 0 | 9770 |
| TPG INC                 CLASS            CLASS A | COM | 872657101 |  | 1052369 | 25978 | SH |  | SOLE |  | 0 | 0 | 25978 |
| TRAVELERS COS INC | COM | 89417E109 |  | 250845 | 860 | SH |  | SOLE |  | 0 | 0 | 860 |
| TRIMAS CORP | COM | 896215209 |  | 413310 | 11500 | SH |  | SOLE |  | 0 | 0 | 11500 |
| VANECK GOLD MINERS ETF | UIE | 92189F106 |  | 782064 | 8522 | SH |  | SOLE |  | 0 | 0 | 8522 |
| VANGUARD DIVIDEND       APPRECIATION INDEX FUND ETF SHARES | UIE | 921908844 |  | 3143446 | 14617 | SH |  | SOLE |  | 0 | 0 | 14617 |
| VANGUARD FTSE DEVELOPED MARKETS INDEX FUND ETF  SHARES | UIE | 921943858 |  | 1073276 | 16749 | SH |  | SOLE |  | 0 | 0 | 16749 |
| VANGUARD FTSE EMERGING  MARKETS INDEX FUND ETF  SHARES | UIE | 922042858 |  | 579394 | 10720 | SH |  | SOLE |  | 0 | 0 | 10720 |
| VANGUARD GROWTH INDEX   FUND ETF SHARES | UIE | 922908736 |  | 2213370 | 5067 | SH |  | SOLE |  | 0 | 0 | 5067 |
| VANGUARD HIGH DIVIDEND  YIELD INDEX FUND ETF    SHARES | UIE | 921946406 |  | 1213383 | 8193 | SH |  | SOLE |  | 0 | 0 | 8193 |
| VANGUARD INFORMATION    TECHNOLOGY INDEX FUND   ETF SHARES | UIE | 92204A702 |  | 1934778 | 2773 | SH |  | SOLE |  | 0 | 0 | 2773 |
| VANGUARD LARGE-CAP INDEXFUND ETF SHARES | UIE | 922908637 |  | 1606618 | 5376 | SH |  | SOLE |  | 0 | 0 | 5376 |
| VANGUARD MID-CAP GROWTH INDEX FUND ETF SHARES | UIE | 922908538 |  | 1291897 | 5020 | SH |  | SOLE |  | 0 | 0 | 5020 |
| VANGUARD MID-CAP INDEX  FUND ETF SHARES | UIE | 922908629 |  | 232288 | 809 | SH |  | SOLE |  | 0 | 0 | 809 |
| VANGUARD S 500 ETF | UIE | 922908363 |  | 5099155 | 8533 | SH |  | SOLE |  | 0 | 0 | 8533 |
| VANGUARD TOTAL STOCK    MARKET INDEX FUND ETF   SHARES | UIE | 922908769 |  | 9996546 | 31160 | SH |  | SOLE |  | 0 | 0 | 31160 |
| VANGUARD TOTAL WORLD    STOCK INDEX FUND ETF    SHARES | UIE | 922042742 |  | 351255 | 2539 | SH |  | SOLE |  | 0 | 0 | 2539 |
| VANGUARD VALUE INDEX    FUND ETF SHARES | UIE | 922908744 |  | 677467 | 3453 | SH |  | SOLE |  | 0 | 0 | 3453 |
| VIRTUS STONE HARBOR EMER | COM | 86164T107 |  | 47800 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| WEC ENERGY GROUP INC | COM | 92939U106 |  | 209081 | 1806 | SH |  | SOLE |  | 0 | 0 | 1806 |
| WILLAMETTE VY VINEYARD I | COM | 969136100 |  | 140836 | 54800 | SH |  | SOLE |  | 0 | 0 | 54800 |
| WILLIAMS COS INC | COM | 969457100 |  | 338063 | 4645 | SH |  | SOLE |  | 0 | 0 | 4645 |
| WISDOMTREE JAPAN HEDGED EQUITY FUND | UIE | 97717W851 |  | 372663 | 2350 | SH |  | SOLE |  | 0 | 0 | 2350 |
| XTRACKERS MSCI EAFE     HEDGED EQUITY ETF | UIE | 233051200 |  | 312751 | 6331 | SH |  | SOLE |  | 0 | 0 | 6331 |

---