We are live on ! Find out more
HC

Headwater Capital Portfolio holdings

AUM $500M
1-Year Est. Return 72.8%
This Fund
S&P 500
This Quarter Est. Return
+16.97%
1 Year Est. Return
+72.8%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$481M
AUM Growth
+$72.1M
Cap. Flow
+$18.4M
Cap. Flow %
3.82%
Top 10 Hldgs %
92.26%
Holding
21
New
4
Increased
5
Reduced
8
Closed
4
Avg Time Held Equity + Options
1.6 quarters
Top 10 Avg Time Held Equity + Options
2.1 quarters
Top 20 Avg Time Held Equity + Options
1.6 quarters
Avg Time Held Equity only
1.7 quarters
Top 10 Avg Time Held Equity only
2.1 quarters
Top 20 Avg Time Held Equity only
1.7 quarters

Top Buys

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$39.8M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$28.6M
3
FIG
Figma
FIG
+$23.5M
4
TSM icon
TSMC
TSM
+$15.3M
5
PDD icon
Pinduoduo
PDD
+$13.7M

Top Sells

Rank Stock Value
1
LITE icon
Lumentum
LITE
+$24.4M
2
NVDA icon
NVIDIA
NVDA
+$18.7M
3
BABA icon
Alibaba
BABA
+$16.9M
4
MAR icon
Marriott International
MAR
+$13M
5
MU icon
Micron Technology
MU
+$9.64M

Sector Composition

Rank Sector Weight
1 Communication Services 43.25%
2 Technology 33.97%
3 Consumer Discretionary 22.12%
4 Miscellaneous 0.65%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
GOOG icon
1
Alphabet (Google) Class C
GOOG
$4.23T
$148M 30.8%
472,000
+139,000
+42% +$39.8M
2025 Q2
2 quarters
TSM icon
2
TSMC
TSM
$2.4T
$111M 23%
364,000
+52,000
+17% +$15.3M
2024 Q4
4 quarters
GOOGL icon
3
Alphabet (Google) Class A
GOOGL
$4.27T
$31.3M 6.51%
+100,000
New +$28.6M
2025 Q4
0 quarters
PDD icon
4
Pinduoduo
PDD
$111B
$29.5M 6.13%
260,000
+110,000
+73% +$13.7M
2024 Q4
4 quarters
META icon
5
Meta Platforms (Facebook)
META
$1.83T
$24M 5%
36,400
-13,600
-27% -$9.08M
2024 Q4
4 quarters
AMZN icon
6
Amazon
AMZN
$2.78T
$24M 4.99%
104,000
+4,000
+4% +$915K
2025 Q3
1 quarter
TCOM icon
7
Trip.com Group
TCOM
$23.7B
$23.4M 4.86%
325,000
-45,000
-12% -$3.22M
2024 Q4
4 quarters
MU icon
8
Micron Technology
MU
$1.2T
$22.3M 4.63%
78,000
-42,000
-35% -$9.64M
2025 Q3
1 quarter
FIG
9
Figma
FIG
$11.5B
$19.4M 4.04%
+520,000
New +$23.5M
2025 Q4
0 quarters
LITE icon
10
Lumentum
LITE
$96.7B
$11.1M 2.3%
30,000
-95,000
-76% -$24.4M
2025 Q3
1 quarter
HTHT icon
11
Huazhu Hotels Group
HTHT
$13.3B
$9.41M 1.96%
200,000
-50,000
-20% -$2.16M
2025 Q3
1 quarter
ATAT icon
12
Atour Lifestyle Holdings
ATAT
$4.28B
$7.88M 1.64%
200,000
+20,000
+11% +$784K
2025 Q3
1 quarter
TRIP icon
13
TripAdvisor
TRIP
$1.02B
$5.1M 1.06%
350,000
-570,000
-62% -$8.67M
2025 Q3
1 quarter
YUMC icon
14
Yum China
YUMC
$14.1B
$4.77M 0.99%
100,000
-19,700
-16% -$902K
2025 Q2
2 quarters
YELP icon
15
Yelp
YELP
$1.01B
$4.56M 0.95%
+150,000
New +$4.63M
2025 Q4
0 quarters
AAPL icon
16
PUT
Apple
AAPL
$4.93T
$3.14M 0.65%
+624,000
New +$168M
2025 Q4
0 quarters
BABA icon
17
Alibaba
BABA
$262B
$2.35M 0.49%
16,000
-104,000
-87% -$16.9M
2025 Q3
1 quarter
MAR icon
18
Marriott International
MAR
$94B
– –
-50,000
Closed -$13M –
NVDA icon
19
NVIDIA
NVDA
$5.68T
– –
-100,000
Closed -$18.7M –
OPRA
20
Opera Ltd
OPRA
$1.5B
– –
-100,000
Closed -$2.06M –
QQQ icon
21
PUT
Invesco QQQ Trust
QQQ
$508B
– –
-3,300
Closed -$1.95M –

Similar funds

TLP
Trinity Legacy Partners Houston, Texas $500M AUM 23.58% 1-Year Est. Return
BCM
Brown Capital Management Baltimore, Maryland $500M AUM 25.3% 1-Year Est. Return
PT
Plimoth Trust Plymouth, Massachusetts $501M AUM 35.9% 1-Year Est. Return
FGWP
Founders Grove Wealth Partners Richmond, Virginia $501M AUM 23.49% 1-Year Est. Return
PCA
Peddock Capital Advisors Braintree, Massachusetts $501M AUM 29.8% 1-Year Est. Return
ISWM
Intesa Sanpaolo Wealth Management Ville De Luxembourg $500M AUM
PPL
Planning Project LLC The Woodlands, Texas $501M AUM
FNBOMD
First National Bank of Mount Dora Mount Dora, Florida $499M AUM 22.75% 1-Year Est. Return

Headwater Capital's Q4 2025 Portfolio in Review

As of Q4 2025, Headwater Capital held 21 positions worth $481M, up 18% from $409M the previous quarter. Its ten largest holdings account for 92% of the portfolio.

Headwater Capital deployed $18.4M of net new capital in Q4 2025, opening 4 new positions and adding to 5 existing holdings. Its largest new stake was Alphabet (Google) Class A: 100,000 shares worth $31.3M.

By sector, the portfolio is most concentrated in Communication Services at 43% of assets, up from 29% a quarter earlier, followed by Technology and Consumer Discretionary.

On the sell side, the largest reduction was Lumentum, an estimated $24.4M trimmed.

  • Headwater Capital's largest Q4 2025 buy was Alphabet (Google) Class A: 100,000 shares worth $31.3M.
  • Headwater Capital added most to Alphabet (Google) Class C in Q4 2025, an estimated $39.8M increase.
  • Headwater Capital's biggest Q4 2025 reduction was Lumentum, cutting an estimated $24.4M.
  • Headwater Capital fully exited NVIDIA in Q4 2025, selling an estimated $18.7M.
  • Headwater Capital's ten largest holdings make up 92% of its $481M portfolio in Q4 2025.
  • Headwater Capital opened 4 new positions and closed 4 in Q4 2025.
  • Headwater Capital's portfolio value rose 18% quarter-over-quarter to $481M.

Based on Headwater Capital's 13F filing for Q4 2025, filed 10 Feb 2026.