CIK: 0001905665
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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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.
Add 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
| # | 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% | — | -0.43% | |
| 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% | — | — | |
| 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% | — | — | |
| 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% | — | — | |
| 34 | AAPL | Apple INC | Stock-Tech | 0.34% | — | -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% | — | — | |
| 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% | — | — | |
| 44 | MCO | Moody's CORP | Stock-Financials | 0.21% | — | — | |
| 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% | — | -0.18% | |
| 49 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.18% | +0.02% | — | |
| 50 | SCHF | Schwab Intl Equity ETF | ETF-Other | 0.18% | — | — |
Performance for Q3 2026
—
Performance Last 4 Quarters
—
Based on 0 months of available history
Based on 23% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-06-30 | 65 | $209.4M | 13 | |
| 2026-03-31 | 71 | $190.7M | 15 | |
| 2025-12-31 | 53 | $174.2M | 5 | |
| 2025-09-30 | 50 | $168.5M | 18 | |
| 2025-06-30 | 50 | $159.0M | 0 | |
| 2025-03-31 | 45 | $142.3M | 0 | |
| 2024-12-31 | 45 | $147.4M | 0 | |
| 2024-09-30 | 47 | $145.0M | 0 | |
| 2024-06-30 | 43 | $136.1M | 0 | |
| 2024-03-31 | 43 | $135.7M | 0 | |
| 2023-12-31 | 42 | $125.9M | 0 | |
| 2023-09-30 | 38 | $110.6M | 0 | |
| 2023-06-30 | 38 | $114.4M | 0 | |
| 2023-03-31 | 38 | $107.7M | 0 | |
| 2022-12-31 | 38 | $99.0M | 0 | |
| 2022-09-30 | 35 | $88.6M | 0 | |
| 2022-06-30 | 36 | $92.8M | 0 | |
| 2022-03-31 | 38 | $108.5M | 0 | |
| 2021-12-31 | 37 | $116.1M | 0 |
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 | DFGP | Dimensional Glbl Core Pl Fix | — | +10.50% | Add |
| 30 | NVDA | Nvidia CORP | 0% | -6.89% | Trim |
| 31 | DFAI | Dimensional International Co | -0.1% | +0.01% | Add |
| 32 | BA | Boeing Co/the | -0.1% | -30.16% | Trim |
| 33 | DFSD | Dimensional Short Duration | -0.1% | -16.54% | Trim |
| 34 | ADBE | Adobe INC | -0.1% | -0.10% | Trim |
| 35 | V | Visa Inc-class A Shares | -0.1% | EXIT | Sold out |
| 36 | MGK | Vanguard Mega Cap Growth ETF | -0.1% | EXIT | Sold out |
| 37 | VUG | Vanguard Growth ETF | -0.1% | EXIT | Sold out |
| 38 | FANG | Diamondback Energy INC | -0.1% | EXIT | Sold out |
| 39 | MSFT | Microsoft CORP | -0.1% | EXIT | Sold out |
| 40 | VO | Vanguard Mid-cap ETF | -0.1% | EXIT | Sold out |
| 41 | LMT | Lockheed Martin CORP | -0.1% | EXIT | Sold out |
| 42 | BRK-B | Berkshire Hathaway Inc-cl B | -0.1% | — | Unchanged |
| 43 | DFUV | Dimensional US Marketwide Va | -0.1% | -7.38% | Trim |
| 44 | BLK | Blackrock INC | -0.1% | EXIT | Sold out |
| 45 | DFIP | Dimensional Inflation-protec | -0.2% | -6.80% | Trim |
| 46 | DFUS | Dimensional US Eq Mkt ETF | -0.2% | -15.52% | Trim |
| 47 | DFNM | Dimensional National Muni Bd | -0.2% | -9.80% | Trim |
| 48 | GLD | Spdr Gold Shares | -0.2% | — | Unchanged |
| 49 | DOCU | Docusign INC | -0.4% | — | Unchanged |
| 50 | DFIV | Dimensional International Va | -0.7% | — | Unchanged |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-06-30 | 2026-07-08 | 13F-HR | View on EDGAR |
| 2026-03-31 | 2026-04-09 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-01-13 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-16 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-04-08 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-04-08 | Amendment | View on EDGAR |
| 2024-12-31 | 2025-01-08 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-08 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-10 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-04-04 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-01-17 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-18 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-07-05 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-04-03 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-01-20 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-10-25 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-07-18 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-04-27 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-01-26 | 13F-HR | View on EDGAR |
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