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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
+21.86%
1 Year Est. Return
+66.03%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$6.25B
AUM Growth
+$2.74B
Cap. Flow
+$1.93B
Cap. Flow %
30.8%
Top 10 Hldgs %
57.24%
Holding
124
New
35
Increased
30
Reduced
23
Closed
21

Top Buys

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$334M
2
META icon
Meta Platforms (Facebook)
META
+$227M
3
AAPL icon
Apple
AAPL
+$207M
4
MSFT icon
Microsoft
MSFT
+$166M
5
GS icon
Goldman Sachs
GS
+$153M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$280M
2
MA icon
Mastercard
MA
+$57.8M
3
AAL icon
American Airlines Group
AAL
+$29M
4
ACN icon
Accenture
ACN
+$28.1M
5
RTX icon
RTX Corp
RTX
+$27.3M

Sector Composition

Rank Sector Weight
1 Technology 38.2%
2 Financials 16.04%
3 Communication Services 12.83%
4 Consumer Discretionary 6.56%
5 Industrials 3.83%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CSCO icon
26
Cisco
CSCO
$475B
$40.2M 0.64%
580,000
+50,000
+9% +$3.07M
WFC icon
27
Wells Fargo
WFC
$264B
$40.1M 0.64%
500,000
-175,000
-26% -$12.6M
LUV icon
28
Southwest Airlines
LUV
$22.3B
$38.9M 0.62%
1,200,000
+800,000
+200% +$24.1M
MCD icon
29
McDonald's
MCD
$194B
$38.9M 0.62%
133,000
-57,174
-30% -$17.6M
CRM icon
30
Salesforce
CRM
$162B
$38.2M 0.61%
+140,000
New +$37.4M
HON icon
31
Honeywell
HON
$72.9B
$37.1M 0.59%
168,935
-10,610
-6% -$2.15M
UNH icon
32
UnitedHealth
UNH
$361B
$35.6M 0.57%
114,000
+59,000
+107% +$22.5M
TFX icon
33
Teleflex
TFX
$5.91B
$34.3M 0.55%
+290,000
New +$36.6M
WDC icon
34
Western Digital
WDC
$151B
$32.3M 0.52%
+504,000
New +$24M
CRL icon
35
Charles River Laboratories
CRL
$13.5B
$31.9M 0.51%
+210,000
New +$28M
TLT icon
36
iShares 20+ Year Treasury Bond ETF
TLT
$40.6B
$31.8M 0.51%
360,000
+210,000
+140% +$18.3M
LRCX icon
37
Lam Research
LRCX
$390B
$31.1M 0.5%
+320,000
New +$25.4M
CRWD icon
38
CrowdStrike
CRWD
$226B
$30.6M 0.49%
240,000
– –
NFLX icon
39
Netflix
NFLX
$311B
$30.3M 0.48%
+226,000
New +$25.6M
QCOM icon
40
Qualcomm
QCOM
$171B
$28.7M 0.46%
180,000
+60,000
+50% +$8.83M
TJX icon
41
TJX Companies
TJX
$172B
$27.8M 0.44%
225,000
-40,000
-15% -$5.07M
PEP icon
42
PepsiCo
PEP
$189B
$26.4M 0.42%
200,000
+110,000
+122% +$14.8M
ADI icon
43
Analog Devices
ADI
$188B
$26.2M 0.42%
110,000
+50,000
+83% +$10.4M
ISRG icon
44
Intuitive Surgical
ISRG
$142B
$25.9M 0.41%
47,579
– –
AMAT icon
45
Applied Materials
AMAT
$417B
$25M 0.4%
136,500
+50,000
+58% +$7.92M
IBKR icon
46
Interactive Brokers
IBKR
$40.7B
$24.4M 0.39%
+440,000
New +$20.9M
AXP icon
47
American Express
AXP
$230B
$24.1M 0.39%
75,500
-40,000
-35% -$11.3M
COST icon
48
Costco
COST
$419B
$23.8M 0.38%
24,000
+11,000
+85% +$10.9M
NOW icon
49
ServiceNow
NOW
$132B
$23.6M 0.38%
115,000
+55,000
+92% +$10.4M
ABBV icon
50
AbbVie
ABBV
$442B
$23.2M 0.37%
125,000
-72,000
-37% -$13.4M
1
2
3 4 5

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Nearwater Capital Markets's Q2 2025 Portfolio in Review

As of Q2 2025, Nearwater Capital Markets held 124 positions worth $6.25B, up 78% from $3.51B the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Nearwater Capital Markets deployed $1.93B of net new capital in Q2 2025, opening 35 new positions and adding to 30 existing holdings. Its largest new stake was Goldman Sachs: 264,015 shares worth $187M.

By sector, the portfolio is most concentrated in Technology at 38% of assets, up from 23% a quarter earlier, followed by Financials and Communication Services.

On the sell side, the largest reduction was Mastercard, an estimated $57.8M trimmed.

  • Nearwater Capital Markets's largest Q2 2025 buy was Goldman Sachs: 264,015 shares worth $187M.
  • Nearwater Capital Markets added most to NVIDIA in Q2 2025, an estimated $334M increase.
  • Nearwater Capital Markets's biggest Q2 2025 reduction was Mastercard, cutting an estimated $57.8M.
  • Nearwater Capital Markets fully exited State Street SPDR S&P 500 ETF Trust in Q2 2025, selling an estimated $280M.
  • Nearwater Capital Markets's ten largest holdings make up 57% of its $6.25B portfolio in Q2 2025.
  • Nearwater Capital Markets opened 35 new positions and closed 21 in Q2 2025.
  • Nearwater Capital Markets's portfolio value rose 78% quarter-over-quarter to $6.25B.

Based on Nearwater Capital Markets's 13F filing for Q2 2025, filed 13 Aug 2025.