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HC
Headwater Capital Portfolio holdings
AUM
$500M
1-Year Est. Return
72.8%
This Fund
S&P 500
This Quarter
Est. Return
+18.21%
1 Year Est. Return
+72.8%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$288M
AUM Growth
+$65.8M
(+30%)
Cap. Flow
+$33.4M
Cap. Flow
% of AUM
11.58%
Top 10 Holdings %
Top 10 Hldgs %
96.25%
Holding
17
New
7
Increased
2
Reduced
2
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$21.7M |
| 2 |
Marriott International
MAR
|
+$20.1M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$16.5M |
| 4 |
lululemon athletica
LULU
|
+$14.6M |
| 5 |
TSMC
TSM
|
+$11.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$30.9M |
| 2 |
NVIDIA
NVDA
|
+$10.8M |
| 3 |
Futu Holdings
FUTU
|
+$10.2M |
| 4 |
Intel
INTC
|
+$6.81M |
| 5 |
Trip.com Group
TCOM
|
+$6.01M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 33.33% |
| 2 | Communication Services | 32.1% |
| 3 | Technology | 30.64% |
| 4 | Real Estate | 3.08% |
| 5 | Financials | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Meta Platforms (Facebook)
META
$1.39T
| $73.8M | 25.61% |
100,000
-50,000
| -33% | -$30.9M |
|
|
2
TSMC
TSM
$2.17T
| $63.4M | 22.01% |
280,000
+60,000
| +27% | +$11.1M |
|
|
3
Microsoft
MSFT
$3.58T
| $24.9M | 8.63% |
+50,000
| New | +$21.7M |
|
|
4
Trip.com Group
TCOM
$28.9B
| $23.5M | 8.14% |
400,000
-100,000
| -20% | -$6.01M |
|
|
5
Marriott International
MAR
$93.5B
| $21.9M | 7.58% |
+80,000
| New | +$20.1M |
|
6
Pinduoduo
PDD
$125B
| $20.9M | 7.26% |
200,000
| – | – |
|
|
7
Alphabet (Google) Class C
GOOG
$4.15T
| $17.7M | 6.16% |
+100,000
| New | +$16.5M |
|
|
8
lululemon athletica
LULU
$13.1B
| $12.6M | 4.37% |
+53,000
| New | +$14.6M |
|
9
Yum China
YUMC
$16.4B
| $9.82M | 3.41% |
+219,550
| New | +$9.82M |
|
10
KE Holdings
BEKE
$18.7B
| $8.87M | 3.08% |
500,000
| – | – |
|
|
GOOS
11
Canada Goose Holdings
GOOS
$832M
| $7.39M | 2.56% |
+660,000
| New | +$6.4M |
|
12
PUT
Invesco QQQ Trust
QQQ
$486B
| $2.49M | 0.86% |
2,520
+1,520
| +152% | +$756K |
|
|
OPRA
13
Opera Ltd
OPRA
$1.59B
| $945K | 0.33% |
+50,000
| New | +$857K |
|
|
14
Futu Holdings
FUTU
$15.4B
| – | – |
-100,000
| Closed | -$10.2M |
|
|
HIMX
15
Himax Technologies
HIMX
$2.39B
| – | – |
-500,000
| Closed | -$3.67M |
|
|
16
Intel
INTC
$484B
| – | – |
-300,000
| Closed | -$6.81M |
|
|
17
NVIDIA
NVDA
$5.29T
| – | – |
-100,000
| Closed | -$10.8M |
|
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Headwater Capital's Q2 2025 Portfolio in Review
As of Q2 2025, Headwater Capital held 17 positions worth $288M, up 30% from $222M the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Headwater Capital deployed $33.4M of net new capital in Q2 2025, opening 7 new positions and adding to 2 existing holdings. Its largest new stake was Microsoft: 50,000 shares worth $24.9M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 33% of assets, up from 25% a quarter earlier, followed by Communication Services and Technology.
On the sell side, the largest reduction was Meta Platforms (Facebook), an estimated $30.9M trimmed.
- Headwater Capital's largest Q2 2025 buy was Microsoft: 50,000 shares worth $24.9M.
- Headwater Capital added most to TSMC in Q2 2025, an estimated $11.1M increase.
- Headwater Capital's biggest Q2 2025 reduction was Meta Platforms (Facebook), cutting an estimated $30.9M.
- Headwater Capital fully exited NVIDIA in Q2 2025, selling an estimated $10.8M.
- Headwater Capital's ten largest holdings make up 96% of its $288M portfolio in Q2 2025.
- Headwater Capital opened 7 new positions and closed 4 in Q2 2025.
- Headwater Capital's portfolio value rose 30% quarter-over-quarter to $288M.
Based on Headwater Capital's 13F filing for Q2 2025, filed 12 Aug 2025.