SC
Shearwater Capital LLC 13F Holdings & Recent Stock Buys (Q2 2026)
Shearwater Capital LLCCIK: 0001905665
Momentum followerSector-focusedLong-term holder
Total reported value
$209.4M
Reporting period: 2026-06-30 · Number of holdings: 65
Shearwater Capital LLC disclosed 65 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $209.4M and a quarterly turnover rate of 12.5%.
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Personality snowflake
- Concentration
- 68.42
- Portfolio Stability
- 12.5
- Momentum
- 100
- Sector conviction
- 81.84
- Diversification
- 100
- Sizing Uniformity
- 67.94
Shearwater Capital LLC's disclosed holdings carry a Herfindahl concentration index of 0.171 — mathematically equivalent to about 6 equally-sized positions, well below its 65 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 3.21), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 4.0 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 10% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd DFAC
+0.6% $9.8M
Trim DFIV
0.0% $424.7K
Trim DOCU
0.0% -$339.1K
Add DFEM
+12.8% $943.1K
Trim GLD
0.0% -$264.9K
New buy DFIS
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | DFAC | Dimensional US Core Equity 2 | ETF-Other | 36.29% | +1.57% | +0.55% | |
| 2 | DFAX | Dimensional World Ex US Core | ETF-Other | 16.20% | +0.10% | +1.90% | |
| 3 | DFIV | Dimensional International Va | ETF-Other | 8.83% | -0.65% | — | |
| 4 | DFUV | Dimensional US Marketwide Va | ETF-Other | 3.24% | -0.14% | -7.38% | |
| 5 | DFAT | Dimensional US Target Value | ETF-Other | 2.74% | +0.05% | — | |
| 6 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 2.50% | -0.13% | — | |
| 7 | DOCU | Docusign Inc | Stock-Tech | 2.41% | -0.41% | — | |
| 8 | DFEM | Dimensional Emrg Mrkt Core | ETF-Other | 1.83% | +0.32% | +12.78% | |
| 9 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.64% | +0.05% | -1.18% | |
| 10 | DFAI | Dimensional International Co | ETF-Other | 1.47% | -0.05% | +0.01% | |
| 11 | DFUS | Dimensional US Eq Mkt ETF | ETF-Other | 1.35% | -0.17% | -15.52% | |
| 12 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 1.27% | +0.01% | -3.15% | |
| 13 | SCHX | Schwab US Large-cap ETF | ETF-Other | 1.09% | +0.05% | — | |
| 14 | DFAS | Dimensional US Small Cap ETF | ETF-Small Cap | 0.92% | +0.04% | — | |
| 15 | DFNM | Dimensional National Muni Bd | ETF-Other | 0.92% | -0.19% | -9.80% | |
| 16 | TSLA | Tesla Inc | Stock-Consumer Disc | 0.91% | +0.03% | -0.22% | |
| 17 | DISV | Dimensional International Sm | ETF-Other | 0.80% | +0.16% | +35.53% | |
| 18 | STLD | Steel Dynamics Inc | Stock-Materials | 0.80% | +0.11% | — | |
| 19 | DFIP | Dimensional Inflation-protec | ETF-Other | 0.78% | -0.15% | -6.80% | |
| 20 | GLD | Spdr Gold Shares | ETF-Commodities | 0.75% | -0.22% | — | |
| 21 | DFCF | Dimensional Core Fixed Inc | ETF-Other | 0.69% | -0.08% | -0.43% | |
| 22 | SCHA | Schwab US Small-cap ETF | ETF-Other | 0.68% | +0.07% | — | |
| 23 | DFAE | Dimensional Emerging Core Eq | ETF-Emerging Markets | 0.65% | +0.05% | +0.03% | |
| 24 | SCHM | Schwab US Mid Cap ETF | ETF-Other | 0.64% | +0.05% | — | |
| 25 | DFSV | Dimensional US Small Cap Val | ETF-Small Cap | 0.62% | +0.06% | +9.99% | |
| 26 | NVDA | Nvidia CORP | Stock-Tech | 0.62% | -0.02% | -6.89% | |
| 27 | SCHD | Schwab US Dvd Equity ETF | ETF-Other | 0.60% | -0.04% | — | |
| 28 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.51% | +0.05% | -0.59% | |
| 29 | DFGP | Dimensional Glbl Core Pl Fix | ETF-Other | 0.49% | — | +10.50% | |
| 30 | SCHZ | Schwab US Aggregate Bond ETF | ETF-Other | 0.46% | -0.05% | — | |
| 31 | DFGR | Dim Global Real Estate ETF | ETF-Other | 0.39% | +0.04% | +12.21% | |
| 32 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 0.38% | +0.02% | +0.17% | |
| 33 | BRK-A | Berkshire Hathaway Inc-cl A | Stock-Other | 0.36% | -0.02% | — | |
| 34 | AAPL | Apple Inc | Stock-Tech | 0.34% | -0.03% | -11.20% | |
| 35 | DUHP | Dimensional US High Profi Et | ETF-Other | 0.33% | +0.01% | — | |
| 36 | AI | C3.ai Inc-a | Stock-Tech | 0.31% | +0.01% | +5.28% | |
| 37 | HUM | Humana Inc | Stock-Healthcare | 0.30% | +0.16% | — | |
| 38 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 0.27% | +0.01% | +0.13% | |
| 39 | AFRM | Affirm Holdings Inc | Stock-Financials | 0.27% | +0.10% | — | |
| 40 | SCHP | Schwab U.s. Tips ETF | ETF-Other | 0.27% | -0.03% | — | |
| 41 | IVW | Ishares S&p 500 Growth ETF | ETF-Large Cap & Growth | 0.25% | +0.02% | — | |
| 42 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.22% | — | -1.00% | |
| 43 | DE | Deere & Co | Stock-Industrials | 0.21% | +0.01% | — | |
| 44 | MCO | Moody's CORP | Stock-Financials | 0.21% | -0.01% | — | |
| 45 | DFIS | Dimensional International Sm | ETF-Other | 0.20% | +0.20% | NEW | |
| 46 | ORCL | Oracle CORP | Stock-Tech | 0.20% | — | +11.43% | |
| 47 | ADBE | Adobe Inc | Stock-Tech | 0.20% | -0.06% | -0.10% | |
| 48 | MAR | Marriott International -cl A | Stock-Consumer Disc | 0.19% | +0.01% | -0.18% | |
| 49 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.18% | +0.02% | — | |
| 50 | SCHF | Schwab Intl Equity ETF | ETF-Other | 0.18% | +0.01% | — |
1–50 of 65
Portfolio Performance
Performance for Q3 2026
+3.4%
Performance Last 4 Quarters
+20.8%
- Stdev
- +12%
- Beta
- +0.86
- Alpha
- +0.4%
- Max Drawdown
- -6%
- Annualized Perf
- +18.4%
- Batting Avg vs S&P
- +44.4%
- Sortino
- +2.99
- Stutzer
- +0.43
- Treynor
- +0.21
- Sterling
- +1.22
- Calmar
- +3.06
- Information Ratio
- -0.48
- Tracking Error
- +4.9%
- Stdev Down
- +5.9%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +30.3%
- Worst 12 Months
- +6.6%
- Efficiency Ratio
- +0.59
- Sharpe
- +1.47
- Stdev Sectors
- +13.6%
- Skewness
- -0.04
- Kurtosis
- -0.52
- Upside Potential
- +4.64
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 65 | $209.4M | 13 | ||
| 2026 Q1 | 71 | $190.7M | 15 | ||
| 2025 Q4 | 53 | $174.2M | 5 | ||
| 2025 Q3 | 50 | $168.5M | 18 | ||
| 2025 Q2 | 50 | $159.0M | 0 | ||
| 2025 Q1 | 45 | $142.3M | 0 | ||
| 2024 Q4 | 45 | $147.4M | 0 | ||
| 2024 Q3 | 47 | $145.0M | 0 | ||
| 2024 Q2 | 43 | $136.1M | 0 | ||
| 2024 Q1 | 43 | $135.7M | 0 | ||
| 2023 Q4 | 42 | $125.9M | 0 | ||
| 2023 Q3 | 38 | $110.6M | 0 | ||
| 2023 Q2 | 38 | $114.4M | 0 | ||
| 2023 Q1 | 38 | $107.7M | 0 | ||
| 2022 Q4 | 38 | $99.0M | 0 | ||
| 2022 Q3 | 35 | $88.6M | 0 | ||
| 2022 Q2 | 36 | $92.8M | 0 | ||
| 2022 Q1 | 38 | $108.5M | 0 | ||
| 2021 Q4 | 37 | $116.1M | 0 |
Holding changes this quarter
Shearwater Capital LLC's most significant position changes for 2026-06-30: New buy: Dimensional International Sm (DFIS); Sold out: Blackrock Inc (BLK); Sold out: Lockheed Martin CORP (LMT); Sold out: Vanguard Mid-cap ETF (VO); Sold out: Visa Inc-class A Shares (V).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | DFAC | Dimensional US Core Equity 2 | +1.6% | +0.55% | Add |
| 2 | DFEM | Dimensional Emrg Mrkt Core | +0.3% | +12.78% | Add |
| 3 | DFIS | Dimensional International Sm | +0.2% | NEW | New buy |
| 4 | DISV | Dimensional International Sm | +0.2% | +35.53% | Add |
| 5 | HUM | Humana Inc | +0.2% | — | Unchanged |
| 6 | STLD | Steel Dynamics Inc | +0.1% | — | Unchanged |
| 7 | DFAX | Dimensional World Ex US Core | +0.1% | +1.90% | Add |
| 8 | AFRM | Affirm Holdings Inc | +0.1% | — | Unchanged |
| 9 | SCHE | Schwab Emrg Mrkts Eqty ETF | +0.1% | NEW | New buy |
| 10 | SCHA | Schwab US Small-cap ETF | +0.1% | — | Unchanged |
| 11 | DFSV | Dimensional US Small Cap Val | +0.1% | +9.99% | Add |
| 12 | DFAT | Dimensional US Target Value | +0.1% | — | Unchanged |
| 13 | AMZN | Amazon.com Inc | +0.1% | -1.18% | Trim |
| 14 | SCHX | Schwab US Large-cap ETF | +0.1% | — | Unchanged |
| 15 | DFAE | Dimensional Emerging Core Eq | +0.1% | +0.03% | Add |
| 16 | SCHM | Schwab US Mid Cap ETF | +0.1% | — | Unchanged |
| 17 | GOOG | Alphabet Inc-cl C | +0.1% | -0.59% | Trim |
| 18 | DFAS | Dimensional US Small Cap ETF | 0% | — | Unchanged |
| 19 | DFGR | Dim Global Real Estate ETF | 0% | +12.21% | Add |
| 20 | TSLA | Tesla Inc | 0% | -0.22% | Trim |
| 21 | CMI | Cummins Inc | 0% | — | Unchanged |
| 22 | VOO | Vanguard S&p 500 ETF | 0% | +0.17% | Add |
| 23 | IVW | Ishares S&p 500 Growth ETF | 0% | — | Unchanged |
| 24 | QQQ | Invesco Qqq Trust Series 1 | 0% | — | Unchanged |
| 25 | IVV | Ishares Core S&p 500 ETF | 0% | -3.15% | Trim |
| 26 | DUHP | Dimensional US High Profi Et | 0% | — | Unchanged |
| 27 | AI | C3.ai Inc-a | 0% | +5.28% | Add |
| 28 | VTI | Vanguard Total Stock Mkt ETF | 0% | +0.13% | Add |
| 29 | AVGO | Broadcom Inc | 0% | -1.85% | Trim |
| 30 | DE | Deere & Co | 0% | — | Unchanged |
| 31 | MAR | Marriott International -cl A | 0% | -0.18% | Trim |
| 32 | XLI | Ss Industrial Select Sector | 0% | — | Unchanged |
| 33 | SCHV | Schwab US Large-cap Value | 0% | — | Unchanged |
| 34 | NET | Cloudflare Inc - Class A | 0% | -0.29% | Trim |
| 35 | SCHF | Schwab Intl Equity ETF | 0% | — | Unchanged |
| 36 | DFGP | Dimensional Glbl Core Pl Fix | — | +10.50% | Add |
| 37 | JPM | Jpmorgan Chase & Co | — | -1.00% | Trim |
| 38 | ORCL | Oracle CORP | — | +11.43% | Add |
| 39 | DFAU | Dimensional US Core Equity M | — | — | Unchanged |
| 40 | DFCA | Dimensional Calfornia Mb ETF | — | +12.49% | Add |
| 41 | EFV | Ishares Msci Eafe Value ETF | — | — | Unchanged |
| 42 | MCO | Moody's CORP | 0% | — | Unchanged |
| 43 | DIHP | Dimensional International Hi | 0% | — | Unchanged |
| 44 | NVDA | Nvidia CORP | 0% | -6.89% | Trim |
| 45 | BRK-A | Berkshire Hathaway Inc-cl A | 0% | — | Unchanged |
| 46 | DFEV | Dimensional Emrg Mrkt Val | 0% | -23.73% | Trim |
| 47 | STE | STERIS plc | 0% | — | Unchanged |
| 48 | AAPL | Apple Inc | 0% | -11.20% | Trim |
| 49 | SCHP | Schwab U.s. Tips ETF | 0% | — | Unchanged |
| 50 | XOM | Exxon Mobil CORP | 0% | — | Unchanged |
1–50 of 73
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Filing History
FAQ
What is Shearwater Capital LLC and what type of investor is it?
Shearwater Capital LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $209.4M, spread across 65 disclosed positions.
What are Shearwater Capital LLC's largest equity positions?
Based on the latest 13F filing, Shearwater Capital LLC's top holdings by market value are:
1. Dimensional US Core Equity 2 (DFAC) — $76.0M (36.3%)
2. Dimensional World Ex US Core (DFAX) — $33.9M (16.2%)
3. Dimensional International Va (DFIV) — $18.5M (8.8%)
4. Dimensional US Marketwide Va (DFUV) — $6.8M (3.2%)
5. Dimensional US Target Value (DFAT) — $5.7M (2.7%)
What changes did Shearwater Capital LLC make in its most recent portfolio filing?
In the latest reported quarter, Shearwater Capital LLC made 43 notable position adjustments: 2 new positions were initiated, 14 existing holdings were added to, 19 positions were partially reduced, and 8 were completely exited. The largest of these moves: New buy: Dimensional International Sm (DFIS); Sold out: Blackrock Inc (BLK); Sold out: Lockheed Martin CORP (LMT); Sold out: Vanguard Mid-cap ETF (VO); Sold out: Visa Inc-class A Shares (V)
What sectors does Shearwater Capital LLC focus on?
Shearwater Capital LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 42.7%
• Consumer Discretionary: 26.9%
• Materials: 7.8%
• Financials: 6.9%
• Communication Services: 5.0%
• Industrials: 4.9%
Investment Profile
Shearwater Capital LLC returned an annualized 18.4% over the trailing 36 months — outperforming the S&P 500 by 0.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.86 (less volatile than the market) and a 44% quarterly batting average against the index.
Its portfolio is concentrated and long-term-holding, with 42.7% of the portfolio concentrated in Information Technology.
It has added to its DFAX position over the past two quarters (+$6.0M, now $33.9M), while trimming DOCU over the same stretch (-$2.8M, still holding $5.0M).
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Developer Access
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REST API
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