CIK: 0001915842
Total reported value
$4.2B
Reporting period: 2026-03-31 · Number of holdings: 82
Nearwater Capital Markets, Ltd disclosed 82 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $4.2B and a quarterly turnover rate of 129.4%.
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Nearwater Capital Markets, Ltd's disclosed holdings carry a Herfindahl concentration index of 0.026 — mathematically equivalent to about 38 equally-sized positions, well below its 82 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.09), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 62% 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.
Trim GOOGL
-77.7% -$325.7M
Trim MSFT
-77.7% -$297.3M
Trim META
-73.9% -$209.4M
Trim AVGO
-62.6% -$185.1M
Add AAPL
+31.9% $48.1M
Add AMZN
+132.7% $69.8M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SPDW | Ste Str Spdr Pt Dw EU ETF | ETF-Other | 6.50% | +6.50% | NEW | |
| 2 | AAPL | Apple INC | Stock-Tech | 6.05% | +2.49% | +31.87% | |
| 3 | NVDA | Nvidia CORP | Stock-Tech | 5.87% | -0.07% | -23.31% | |
| 4 | GDXJ | Vaneck Junior Gold Miners | ETF-Commodities | 4.64% | — | -0.12% | |
| 5 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 3.37% | -1.67% | -52.77% | |
| 6 | AMZN | Amazon.com INC | Stock-Consumer Disc | 3.14% | +2.05% | +132.73% | |
| 7 | SNDK | Sandisk CORP | Stock-Tech | 3.09% | +1.99% | -24.10% | |
| 8 | IXUS | Ishares Core Intl Stock ETF | ETF-Other | 2.89% | +2.89% | NEW | |
| 9 | 430 | Terns Pharmaceuticals INC | Stock-Other | 2.67% | +1.49% | +26.14% | |
| 10 | CAT | Caterpillar INC | Stock-Industrials | 2.54% | +2.54% | NEW | |
| 11 | AVGO | Broadcom INC | Stock-Tech | 2.20% | -2.56% | -62.56% | |
| 12 | JNJ | Johnson & Johnson | Stock-Healthcare | 2.13% | +2.13% | NEW | |
| 13 | ACWI | Ishares Msci Acwi ETF | ETF-Other | 2.09% | +2.09% | NEW | |
| 14 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.98% | -5.03% | -77.69% | |
| 15 | GDX | Vaneck Gold Miners ETF | ETF-Commodities | 1.96% | +1.96% | NEW | |
| 16 | WFC | Wells Fargo & Co | Stock-Financials | 1.89% | +1.89% | NEW | |
| 17 | VPL | Vanguard Ftse Pacific ETF | ETF-Other | 1.82% | +1.82% | NEW | |
| 18 | NEM | Newmont CORP | Stock-Materials | 1.79% | +1.79% | NEW | |
| 19 | COPX | Global X Copper Miners ETF | ETF-Other | 1.68% | +1.68% | NEW | |
| 20 | KWEB | Kranesh Csi China Internet | ETF-Emerging Markets | 1.60% | +1.13% | +197.65% | |
| 21 | TER | Teradyne INC | Stock-Tech | 1.57% | +1.57% | NEW | |
| 22 | RVMD | Revolution Medicines INC | Stock-Healthcare | 1.56% | +1.56% | NEW | |
| 23 | NCLH | Norwegian Cruise Line Holdings Ltd. | Stock-Consumer Disc | 1.50% | +1.50% | NEW | |
| 24 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 1.48% | +1.48% | NEW | |
| 25 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.44% | -3.19% | -73.90% | |
| 26 | MSFT | Microsoft CORP | Stock-Tech | 1.44% | -4.69% | -77.73% | |
| 27 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.40% | — | +210.00% | |
| 28 | MA | Mastercard INC - A | Stock-Financials | 1.28% | +1.28% | NEW | |
| 29 | CELC | Celcuity INC | Stock-Other | 1.27% | — | -9.05% | |
| 30 | IBIT | Ishares Bitcoin Trust ETF | ETF-Crypto | 1.26% | — | — | |
| 31 | CVX | Chevron CORP | Stock-Energy | 1.23% | +1.23% | NEW | |
| 32 | INSM | Insmed INC | Stock-Healthcare | 1.16% | — | -40.00% | |
| 33 | TTWO | Take-two Interactive Softwre | Stock-Comm Services | 1.05% | +1.05% | NEW | |
| 34 | ITOT | Ishares Core S&p Total U.s. | ETF-Other | 1.04% | +1.04% | NEW | |
| 35 | SPHR | Sphere Entertainment Co | Stock-Comm Services | 1.04% | — | +50.00% | |
| 36 | ABT | Abbott Laboratories | Stock-Healthcare | 1.03% | +1.03% | NEW | |
| 37 | AMAT | Applied Materials INC | Stock-Tech | 1.00% | +1.00% | NEW | |
| 38 | ANET | Arista Networks INC | Stock-Tech | 0.92% | — | -23.87% | |
| 39 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.87% | — | — | |
| 40 | HESM | Hess Midstream LP - Class A | Stock-Other | 0.83% | — | — | |
| 41 | QQQI | Neos Nasdaq-100 High INC ETF | ETF-Tech | 0.82% | — | — | |
| 42 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 0.80% | — | -52.61% | |
| 43 | EEM | Ishares Msci Emerging Market | ETF-Emerging Markets | 0.77% | — | — | |
| 44 | AMT | American Tower CORP | Stock-Real Estate | 0.77% | — | — | |
| 45 | ADBE | Adobe INC | Stock-Tech | 0.76% | — | +166.00% | |
| 46 | SNPS | Synopsys INC | Stock-Tech | 0.75% | — | — | |
| 47 | WBS | Webster Financial CORP | Stock-Financials | 0.67% | — | — | |
| 48 | CMI | Cummins INC | Stock-Industrials | 0.67% | — | — | |
| 49 | ROST | Ross Stores INC | Stock-Consumer Disc | 0.66% | — | — | |
| 50 | GILD | Gilead Sciences INC | Stock-Healthcare | 0.66% | -1.47% | -80.26% |
Performance for Q3 2026
+8%
Performance Last 4 Quarters
+33.7%
Based on 69% of reported portfolio value with available pricing
Nearwater Capital Markets, Ltd's most significant position changes for 2026-03-31: New buy: Ste Str Spdr Pt Dw EU ETF (SPDW); Sold out: Micron Technology INC (MU); Sold out: Walmart INC (WMT); Sold out: Tesla INC (TSLA); Sold out: Marvell Technology INC (MRVL).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | AAPL | Apple INC | +2.5% | +31.87% | Add |
| 2 | AMZN | Amazon.com INC | +2.1% | +132.73% | Add |
| 3 | SNDK | Sandisk CORP | +2% | -24.10% | Trim |
| 4 | 430 | Terns Pharmaceuticals INC | +1.5% | +26.14% | Add |
| 5 | KWEB | Kranesh Csi China Internet | +1.1% | +197.65% | Add |
| 6 | NVDA | Nvidia CORP | -0.1% | -23.31% | Trim |
| 7 | NOW | Servicenow INC | -0.6% | -71.21% | Trim |
| 8 | SJM | Jm Smucker Co/the | -0.7% | -70.59% | Trim |
| 9 | BAC | Bank Of America CORP | -1.4% | -98.90% | Trim |
| 10 | GILD | Gilead Sciences INC | -1.5% | -80.26% | Trim |
| 11 | VEA | Vanguard Ftse Developed ETF | -1.7% | -52.77% | Trim |
| 12 | LRCX | Lam Research CORP | -1.8% | -85.61% | Trim |
| 13 | AVGO | Broadcom INC | -2.6% | -62.56% | Trim |
| 14 | META | Meta Platforms Inc-class A | -3.2% | -73.90% | Trim |
| 15 | MSFT | Microsoft CORP | -4.7% | -77.73% | Trim |
| 16 | GOOGL | Alphabet Inc-cl A | -5% | -77.69% | Trim |
| 17 | SPDW | Ste Str Spdr Pt Dw EU ETF | — | NEW | New buy |
| 18 | MU | Micron Technology INC | — | EXIT | Sold out |
| 19 | WMT | Walmart INC | — | EXIT | Sold out |
| 20 | TSLA | Tesla INC | — | EXIT | Sold out |
| 21 | MRVL | Marvell Technology INC | — | EXIT | Sold out |
| 22 | IXUS | Ishares Core Intl Stock ETF | — | NEW | New buy |
| 23 | LUV | Southwest Airlines Co | — | EXIT | Sold out |
| 24 | CAT | Caterpillar INC | — | NEW | New buy |
| 25 | FXI | Ishares China Large-cap ETF | — | EXIT | Sold out |
| 26 | JNJ | Johnson & Johnson | — | NEW | New buy |
| 27 | ACWI | Ishares Msci Acwi ETF | — | NEW | New buy |
| 28 | GDX | Vaneck Gold Miners ETF | — | NEW | New buy |
| 29 | WFC | Wells Fargo & Co | — | NEW | New buy |
| 30 | VPL | Vanguard Ftse Pacific ETF | — | NEW | New buy |
| 31 | NEM | Newmont CORP | — | NEW | New buy |
| 32 | VT | Vanguard Tot World Stk ETF | — | EXIT | Sold out |
| 33 | SCHW | Schwab (charles) CORP | — | EXIT | Sold out |
| 34 | COPX | Global X Copper Miners ETF | — | NEW | New buy |
| 35 | COST | Costco Wholesale CORP | — | EXIT | Sold out |
| 36 | TJX | Tjx Companies INC | — | EXIT | Sold out |
| 37 | FISV | Fiserv INC | — | EXIT | Sold out |
| 38 | TER | Teradyne INC | — | NEW | New buy |
| 39 | RVMD | Revolution Medicines INC | — | NEW | New buy |
| 40 | VCIT | Vanguard Int-term Corporate | — | EXIT | Sold out |
| 41 | BKNG | Booking Holdings INC | — | EXIT | Sold out |
| 42 | NCLH | Norwegian Cruise Line Holdings Ltd. | — | NEW | New buy |
| 43 | BSV | Vanguard Short-term Bond ETF | — | EXIT | Sold out |
| 44 | PG | Procter & Gamble Co/the | — | NEW | New buy |
| 45 | MA | Mastercard INC - A | — | NEW | New buy |
| 46 | CVX | Chevron CORP | — | NEW | New buy |
| 47 | TTWO | Take-two Interactive Softwre | — | NEW | New buy |
| 48 | ITOT | Ishares Core S&p Total U.s. | — | NEW | New buy |
| 49 | ABT | Abbott Laboratories | — | NEW | New buy |
| 50 | AMAT | Applied Materials INC | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-13 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-13 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
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