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NCM
Nearwater Capital Markets Portfolio holdings
AUM
$4.24B
1-Year Est. Return
66.03%
This Fund
S&P 500
This Quarter
Est. Return
+6.87%
1 Year Est. Return
+66.03%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$4.24B
AUM Growth
-$1.61B
(-28%)
Cap. Flow
-$1.57B
Cap. Flow
% of AUM
-37.07%
Top 10 Holdings %
Top 10 Hldgs %
40.77%
Holding
146
New
42
Increased
8
Reduced
26
Closed
64
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR Portfolio Developed World ex-US ETF
SPDW
|
+$283M |
| 2 |
iShares Core MSCI Total International Stock ETF
IXUS
|
+$126M |
| 3 |
Caterpillar
CAT
|
+$105M |
| 4 |
iShares MSCI ACWI ETF
ACWI
|
+$92.2M |
| 5 |
VanEck Gold Miners ETF
GDX
|
+$89.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$320M |
| 2 |
Microsoft
MSFT
|
+$241M |
| 3 |
Micron Technology
MU
|
+$197M |
| 4 |
Meta Platforms (Facebook)
META
|
+$194M |
| 5 |
Walmart Inc
WMT
|
+$185M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.23% |
| 2 | Healthcare | 13.18% |
| 3 | Consumer Discretionary | 6.42% |
| 4 | Financials | 5.83% |
| 5 | Communication Services | 5.69% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
State Street SPDR Portfolio Developed World ex-US ETF
SPDW
$42B
| $276M | 6.5% |
+6,039,200
| New | +$283M |
|
2
Apple
AAPL
$4.45T
| $256M | 6.05% |
1,010,100
+244,100
| +32% | +$63.5M |
|
3
NVIDIA
NVDA
$5.47T
| $249M | 5.87% |
1,428,000
-434,000
| -23% | -$79.6M |
|
4
VanEck Junior Gold Miners ETF
GDXJ
$8.33B
| $197M | 4.64% |
1,638,000
-2,000
| -0.1% | -$261K |
|
5
Vanguard FTSE Developed Markets ETF
VEA
$239B
| $143M | 3.37% |
2,227,000
-2,487,850
| -53% | -$164M |
|
6
Amazon
AMZN
$2.86T
| $133M | 3.14% |
640,000
+365,000
| +133% | +$80.4M |
|
|
SNDK
7
Sandisk
SNDK
$222B
| $131M | 3.09% |
206,000
-65,400
| -24% | -$36.9M |
|
|
8
iShares Core MSCI Total International Stock ETF
IXUS
$60.8B
| $122M | 2.89% |
+1,413,600
| New | +$126M |
|
|
TERN
9
DELISTED
Terns Pharmaceuticals
TERN
| $113M | 2.67% |
2,150,400
+445,600
| +26% | +$18.3M |
|
|
10
Caterpillar
CAT
$392B
| $108M | 2.54% |
+152,000
| New | +$105M |
|
11
Broadcom
AVGO
$1.99T
| $93.2M | 2.2% |
301,000
-503,000
| -63% | -$166M |
|
12
Johnson & Johnson
JNJ
$630B
| $90.4M | 2.13% |
+370,000
| New | +$86.2M |
|
|
13
iShares MSCI ACWI ETF
ACWI
$33.6B
| $88.8M | 2.09% |
+641,700
| New | +$92.2M |
|
|
14
Alphabet (Google) Class A
GOOGL
$4.23T
| $84M | 1.98% |
292,000
-1,017,000
| -78% | -$320M |
|
|
15
VanEck Gold Miners ETF
GDX
$26.9B
| $83M | 1.96% |
+904,000
| New | +$89.1M |
|
16
Wells Fargo
WFC
$266B
| $79.9M | 1.89% |
+1,004,000
| New | +$86.2M |
|
17
Vanguard FTSE Pacific ETF
VPL
$8.64B
| $77M | 1.82% |
+787,900
| New | +$78.6M |
|
18
Newmont
NEM
$120B
| $76M | 1.79% |
+702,000
| New | +$80.9M |
|
19
Global X Copper Miners ETF NEW
COPX
$7.94B
| $71.3M | 1.68% |
+934,400
| New | +$77.4M |
|
20
KraneShares CSI China Internet ETF
KWEB
$5.32B
| $67.7M | 1.6% |
2,381,200
+1,581,200
| +198% | +$51.8M |
|
21
Teradyne
TER
$64.1B
| $66.7M | 1.57% |
+225,000
| New | +$62.7M |
|
22
Revolution Medicines
RVMD
$43.3B
| $65.9M | 1.56% |
+678,000
| New | +$68.5M |
|
23
Norwegian Cruise Line
NCLH
$8.94B
| $63.7M | 1.5% |
+3,405,000
| New | +$74.4M |
|
24
Procter & Gamble
PG
$335B
| $62.8M | 1.48% |
+435,000
| New | +$65.9M |
|
|
25
Meta Platforms (Facebook)
META
$1.51T
| $61.2M | 1.44% |
107,000
-303,000
| -74% | -$194M |
|
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Nearwater Capital Markets's Q1 2026 Portfolio in Review
As of Q1 2026, Nearwater Capital Markets held 146 positions worth $4.24B, down 28% from $5.85B the previous quarter. Its ten largest holdings account for 41% of the portfolio.
Nearwater Capital Markets withdrew a net $1.57B in Q1 2026, closing 64 positions and reducing 26 holdings. Its most notable exit was Micron Technology, an estimated $197M position sold in full.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 36% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Nearwater Capital Markets opened a new position in State Street SPDR Portfolio Developed World ex-US ETF worth $276M.
- Nearwater Capital Markets's largest Q1 2026 buy was State Street SPDR Portfolio Developed World ex-US ETF: 6,039,200 shares worth $276M.
- Nearwater Capital Markets added most to Amazon in Q1 2026, an estimated $80.4M increase.
- Nearwater Capital Markets's biggest Q1 2026 reduction was Alphabet (Google) Class A, cutting an estimated $320M.
- Nearwater Capital Markets fully exited Micron Technology in Q1 2026, selling an estimated $197M.
- Nearwater Capital Markets's ten largest holdings make up 41% of its $4.24B portfolio in Q1 2026.
- Nearwater Capital Markets opened 42 new positions and closed 64 in Q1 2026.
- Nearwater Capital Markets's portfolio value fell 28% quarter-over-quarter to $4.24B.
Based on Nearwater Capital Markets's 13F filing for Q1 2026, filed 15 May 2026.