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NCM

Nearwater Capital Markets Portfolio holdings

AUM $5.8B
1-Year Est. Return 88.72%
This Fund
S&P 500
This Quarter Est. Return
+38.52%
1 Year Est. Return
+88.72%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$5.8B
AUM Growth
+$1.56B
Cap. Flow
+$905M
Cap. Flow %
15.61%
Top 10 Hldgs %
40.13%
Holding
146
New
64
Increased
15
Reduced
15
Closed
46

Top Buys

Rank Stock Value
1
GDX icon
VanEck Gold Miners ETF
GDX
+$234M
2
RVMD icon
Revolution Medicines
RVMD
+$207M
3
AMZN icon
Amazon
AMZN
+$173M
4
UBER icon
Uber
UBER
+$160M
5
AMD icon
Advanced Micro Devices
AMD
+$159M

Top Sells

Rank Stock Value
1
SPDW icon
State Street SPDR Portfolio Developed World ex-US ETF
SPDW
+$276M
2
AAPL icon
Apple
AAPL
+$164M
3
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$143M
4
GDXJ icon
VanEck Junior Gold Miners ETF
GDXJ
+$138M
5
SNDK
Sandisk
SNDK
+$137M

Sector Composition

Rank Sector Weight
1 Technology 31.18%
2 Miscellaneous 17.07%
3 Consumer Discretionary 13.98%
4 Healthcare 13.37%
5 Industrials 9.37%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ACWI icon
26
iShares MSCI ACWI ETF
ACWI
$33B
$67.8M 1.17%
431,900
-209,800
-33% -$32.1M
XOM icon
27
ExxonMobil
XOM
$663B
$61.9M 1.07%
+453,000
New +$67.8M
WBS
28
DELISTED
Webster Financial
WBS
$59.5M 1.03%
778,000
+366,000
+89% +$26.6M
RTX icon
29
RTX Corp
RTX
$252B
$57.9M 1%
305,000
+197,000
+182% +$36.1M
ROST icon
30
Ross Stores
ROST
$74.9B
$54.5M 0.94%
256,000
+126,000
+97% +$28.4M
ANET icon
31
Arista Networks
ANET
$256B
$54.2M 0.93%
319,000
– –
ROIV icon
32
Roivant Sciences
ROIV
$26.4B
$53.1M 0.92%
+1,500,000
New +$44.3M
EFA icon
33
iShares MSCI EAFE ETF
EFA
$77.3B
$48.3M 0.83%
+465,000
New +$47.8M
EEM icon
34
iShares MSCI Emerging Markets ETF
EEM
$31.3B
$47.9M 0.83%
700,000
+122,500
+21% +$8M
UAL icon
35
United Airlines
UAL
$36.6B
$47.7M 0.82%
+351,000
New +$36.4M
NSC icon
36
Norfolk Southern
NSC
$70.3B
$46.9M 0.81%
+149,000
New +$45.9M
PH icon
37
Parker-Hannifin
PH
$122B
$46M 0.79%
+47,000
New +$43.1M
CIEN icon
38
Ciena
CIEN
$50.3B
$45.6M 0.79%
+93,000
New +$47.4M
HLT icon
39
Hilton Worldwide
HLT
$72.8B
$45.3M 0.78%
+137,000
New +$45M
ALGN icon
40
Align Technology
ALGN
$10.2B
$45.2M 0.78%
+268,000
New +$46.5M
GDXJ icon
41
VanEck Junior Gold Miners ETF
GDXJ
$8.55B
$44.2M 0.76%
450,000
-1,188,000
-73% -$138M
BRK.B icon
42
Berkshire Hathaway Class B
BRK.B
$1.08T
$44M 0.76%
88,000
-36,000
-29% -$17.3M
UNH icon
43
UnitedHealth
UNH
$337B
$41.6M 0.72%
100,000
+10,000
+11% +$3.71M
SPHR icon
44
Sphere Entertainment
SPHR
$4.82B
$39.7M 0.68%
229,200
-145,800
-39% -$20.3M
COPX icon
45
Global X Copper Miners ETF NEW
COPX
$7.32B
$38.5M 0.66%
500,000
-434,400
-46% -$36.2M
GTLS
46
DELISTED
Chart Industries
GTLS
$38.4M 0.66%
184,000
+74,000
+67% +$15.4M
TMO icon
47
Thermo Fisher Scientific
TMO
$251B
$37.1M 0.64%
+74,000
New +$35.5M
DRAM
48
Roundhill Memory ETF
DRAM
$28.8B
$36.9M 0.64%
+500,000
New +$26M
GOOG icon
49
Alphabet (Google) Class C
GOOG
$4.13T
$35.3M 0.61%
+100,000
New +$35.7M
TER icon
50
Teradyne
TER
$63B
$34.8M 0.6%
72,000
-153,000
-68% -$57.7M
1
2
3 4 5

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Nearwater Capital Markets's Q2 2026 Portfolio in Review

As of Q2 2026, Nearwater Capital Markets held 146 positions worth $5.8B, up 37% from $4.24B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Nearwater Capital Markets deployed $905M of net new capital in Q2 2026, opening 64 new positions and adding to 15 existing holdings. Its largest new stake was Uber: 2,181,000 shares worth $157M.

By sector, the portfolio is most concentrated in Technology at 31% of assets, up from 26% a quarter earlier, followed by Miscellaneous and Consumer Discretionary.

On the sell side, the largest reduction was Apple, an estimated $164M trimmed.

  • Nearwater Capital Markets's largest Q2 2026 buy was Uber: 2,181,000 shares worth $157M.
  • Nearwater Capital Markets added most to VanEck Gold Miners ETF in Q2 2026, an estimated $234M increase.
  • Nearwater Capital Markets's biggest Q2 2026 reduction was Apple, cutting an estimated $164M.
  • Nearwater Capital Markets fully exited State Street SPDR Portfolio Developed World ex-US ETF in Q2 2026, selling an estimated $276M.
  • Nearwater Capital Markets's ten largest holdings make up 40% of its $5.8B portfolio in Q2 2026.
  • Nearwater Capital Markets opened 64 new positions and closed 46 in Q2 2026.
  • Nearwater Capital Markets's portfolio value rose 37% quarter-over-quarter to $5.8B.

Based on Nearwater Capital Markets's 13F filing for Q2 2026, filed 14 Aug 2026.