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Headwater Capital Portfolio holdings

AUM $500M
1-Year Est. Return 72.8%
This Fund
S&P 500
This Quarter Est. Return
-6.5%
1 Year Est. Return
+72.8%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$622M
AUM Growth
+$141M
Cap. Flow
+$183M
Cap. Flow %
29.35%
Top 10 Hldgs %
91.44%
Holding
24
New
7
Increased
4
Reduced
4
Closed
9

Top Buys

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$97.8M
2
NVDA icon
NVIDIA
NVDA
+$57.8M
3
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$40.8M
4
DASH icon
DoorDash
DASH
+$38.8M
5
HOOD icon
Robinhood
HOOD
+$32.2M

Top Sells

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$55.6M
2
AMZN icon
Amazon
AMZN
+$24M
3
FIG
Figma
FIG
+$19.4M
4
PDD icon
Pinduoduo
PDD
+$11.6M
5
TSM icon
TSMC
TSM
+$9.64M

Sector Composition

Rank Sector Weight
1 Communication Services 44.09%
2 Technology 35.16%
3 Consumer Discretionary 14.46%
4 Financials 6.29%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TSM icon
1
TSMC
TSM
$2.21T
$114M 18.26%
336,000
-28,000
-8% -$9.64M
META icon
2
Meta Platforms (Facebook)
META
$1.51T
$108M 17.39%
189,000
+152,600
+419% +$97.8M
GOOG icon
3
Alphabet (Google) Class C
GOOG
$4.19T
$84.6M 13.61%
295,000
-177,000
-38% -$55.6M
GOOGL icon
4
Alphabet (Google) Class A
GOOGL
$4.21T
$66.1M 10.63%
230,000
+130,000
+130% +$40.8M
NVDA icon
5
NVIDIA
NVDA
$5.46T
$54.9M 8.83%
+315,000
New +$57.8M
MU icon
6
Micron Technology
MU
$1.09T
$36.1M 5.81%
107,000
+29,000
+37% +$11.4M
TCOM icon
7
Trip.com Group
TCOM
$28.2B
$32.9M 5.28%
660,000
+335,000
+103% +$19.5M
DASH icon
8
DoorDash
DASH
$94.1B
$31.5M 5.07%
+210,000
New +$38.8M
HOOD icon
9
Robinhood
HOOD
$87.1B
$25.4M 4.09%
+367,000
New +$32.2M
PDD icon
10
Pinduoduo
PDD
$120B
$15.3M 2.46%
150,000
-110,000
-42% -$11.6M
LITE icon
11
Lumentum
LITE
$81.2B
$14.1M 2.26%
20,000
-10,000
-33% -$5.49M
FUTU icon
12
Futu Holdings
FUTU
$14.7B
$13.7M 2.2%
+100,000
New +$15.5M
RBLX icon
13
Roblox
RBLX
$27.5B
$11.3M 1.82%
+200,000
New +$13.4M
ONON icon
14
On Holding
ONON
$10.8B
$10.2M 1.64%
+300,000
New +$13.1M
BZ icon
15
Kanzhun
BZ
$6.87B
$4.02M 0.65%
+300,000
New +$5.08M
AAPL icon
16
PUT
Apple
AAPL
$4.45T
– –
-624,000
Closed -$3.14M
AMZN icon
17
Amazon
AMZN
$2.84T
– –
-104,000
Closed -$24M
ATAT icon
18
Atour Lifestyle Holdings
ATAT
$4.62B
– –
-200,000
Closed -$7.88M
BABA icon
19
Alibaba
BABA
$296B
– –
-16,000
Closed -$2.35M
HTHT icon
20
Huazhu Hotels Group
HTHT
$12.8B
– –
-200,000
Closed -$9.41M
TRIP icon
21
TripAdvisor
TRIP
$1.27B
– –
-350,000
Closed -$5.1M
YELP icon
22
Yelp
YELP
$1.32B
– –
-150,000
Closed -$4.56M
YUMC icon
23
Yum China
YUMC
$16.2B
– –
-100,000
Closed -$4.77M
FIG
24
Figma
FIG
$13.6B
– –
-520,000
Closed -$19.4M

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Headwater Capital's Q1 2026 Portfolio in Review

As of Q1 2026, Headwater Capital held 24 positions worth $622M, up 29% from $481M the previous quarter. Its ten largest holdings account for 91% of the portfolio.

Headwater Capital deployed $183M of net new capital in Q1 2026, opening 7 new positions and adding to 4 existing holdings. Its largest new stake was NVIDIA: 315,000 shares worth $54.9M.

By sector, the portfolio is most concentrated in Communication Services at 44% of assets, up from 43% a quarter earlier, followed by Technology and Consumer Discretionary.

On the sell side, the largest reduction was Alphabet (Google) Class C, an estimated $55.6M trimmed.

  • Headwater Capital's largest Q1 2026 buy was NVIDIA: 315,000 shares worth $54.9M.
  • Headwater Capital added most to Meta Platforms (Facebook) in Q1 2026, an estimated $97.8M increase.
  • Headwater Capital's biggest Q1 2026 reduction was Alphabet (Google) Class C, cutting an estimated $55.6M.
  • Headwater Capital fully exited Amazon in Q1 2026, selling an estimated $24M.
  • Headwater Capital's ten largest holdings make up 91% of its $622M portfolio in Q1 2026.
  • Headwater Capital opened 7 new positions and closed 9 in Q1 2026.
  • Headwater Capital's portfolio value rose 29% quarter-over-quarter to $622M.

Based on Headwater Capital's 13F filing for Q1 2026, filed 15 May 2026.