diff --git a/alpaca/common/rest.py b/alpaca/common/rest.py
index a42662fb..eede4925 100644
--- a/alpaca/common/rest.py
+++ b/alpaca/common/rest.py
@@ -322,7 +322,10 @@ def _return_paginated_result(
         """
         if handle_pagination == PaginationType.NONE:
             # user wants no pagination, so just do a single page
-            return next(iterator)
+            try:
+                return next(iterator)
+            except StopIteration:
+                return []
         elif handle_pagination == PaginationType.FULL:
             # the iterator returns "pages", so we use chain to flatten them all into 1 list
             return list(chain.from_iterable(iterator))
diff --git a/tests/broker/broker_client/test_rebalancing_routes.py b/tests/broker/broker_client/test_rebalancing_routes.py
index af9da783..a4314dd3 100644
--- a/tests/broker/broker_client/test_rebalancing_routes.py
+++ b/tests/broker/broker_client/test_rebalancing_routes.py
@@ -14,7 +14,7 @@
     GetSubscriptionsRequest,
     UpdatePortfolioRequest,
 )
-from alpaca.common.enums import BaseURL
+from alpaca.common.enums import BaseURL, PaginationType
 
 
 def test_create_portfolio(reqmock: Mocker, client: BrokerClient) -> None:
@@ -403,6 +403,25 @@ def test_get_all_subscriptions(reqmock: Mocker, client: BrokerClient) -> None:
     assert isinstance(response[0], Subscription)
 
 
+def test_get_all_subscriptions_empty_no_pagination(
+    reqmock: Mocker, client: BrokerClient
+) -> None:
+    """Test the get_all_subscriptions method."""
+    reqmock.get(
+        f"{BaseURL.BROKER_SANDBOX.value}/v1/rebalancing/subscriptions",
+        text="""{
+            "subscriptions": [],
+            "next_page_token": null
+        }""",
+    )
+    response = client.get_all_subscriptions(
+        filter=GetSubscriptionsRequest(), handle_pagination=PaginationType.NONE
+    )
+
+    assert reqmock.called_once
+    assert len(response) == 0
+
+
 def test_get_subscription_by_id(reqmock: Mocker, client: BrokerClient) -> None:
     """Test the get_subscription_by_id method."""
     sub_id = UUID("9341be15-8786-4d23-ba1a-fc10ef4f90f4")