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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
Cap. Flow
-$1.57B
Cap. Flow %
-37.07%
Top 10 Hldgs %
40.77%
Holding
146
New
42
Increased
8
Reduced
26
Closed
64

Top Buys

Rank Stock Value
1
SPDW icon
State Street SPDR Portfolio Developed World ex-US ETF
SPDW
+$283M
2
IXUS icon
iShares Core MSCI Total International Stock ETF
IXUS
+$126M
3
CAT icon
Caterpillar
CAT
+$105M
4
ACWI icon
iShares MSCI ACWI ETF
ACWI
+$92.2M
5
GDX icon
VanEck Gold Miners ETF
GDX
+$89.1M

Top Sells

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$320M
2
MSFT icon
Microsoft
MSFT
+$241M
3
MU icon
Micron Technology
MU
+$197M
4
META icon
Meta Platforms (Facebook)
META
+$194M
5
WMT icon
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
MSI icon
51
Motorola Solutions
MSI
$77.6B
$26M 0.61%
+60,000
New +$26M
LRCX icon
52
Lam Research
LRCX
$410B
$25.2M 0.59%
118,000
-702,000
-86% -$157M
UNH icon
53
UnitedHealth
UNH
$364B
$24.4M 0.57%
+90,000
New +$26.8M
GTLS
54
DELISTED
Chart Industries
GTLS
$22.7M 0.54%
+110,000
New +$22.8M
RTX icon
55
RTX Corp
RTX
$300B
$20.8M 0.49%
+108,000
New +$21.5M
SJM icon
56
J.M. Smucker
SJM
$12.7B
$19.3M 0.46%
200,000
-480,000
-71% -$50.3M
NKTR icon
57
Nektar Therapeutics
NKTR
$2.56B
$18.8M 0.44%
261,500
+200,000
+325% +$11.4M
OS
58
DELISTED
OneStream Inc
OS
$17M 0.4%
+707,800
New +$16.6M
PEN icon
59
Penumbra
PEN
$12.9B
$16.4M 0.39%
+50,000
New +$16.9M
COF icon
60
Capital One
COF
$135B
$16.1M 0.38%
+88,500
New +$18.5M
WDAY icon
61
Workday
WDAY
$42.8B
$14.9M 0.35%
115,000
-35,000
-23% -$5.56M
ARQT icon
62
Arcutis Biotherapeutics
ARQT
$3.29B
$14.3M 0.34%
607,300
-7,700
-1% -$197K
CX icon
63
Cemex
CX
$16.3B
$13.6M 0.32%
1,189,900
– –
FNDF icon
64
Schwab Fundamental International Large Company Index ETF
FNDF
$25.8B
$10.5M 0.25%
+214,000
New +$10.5M
NOW icon
65
ServiceNow
NOW
$129B
$9.93M 0.23%
95,000
-235,000
-71% -$27.6M
PBF icon
66
PBF Energy
PBF
$8.42B
$9.52M 0.22%
+200,000
New +$7.49M
ESGE icon
67
iShares ESG Aware MSCI EM ETF
ESGE
$6.81B
$9.09M 0.21%
+200,000
New +$9.46M
PDD icon
68
Pinduoduo
PDD
$126B
$8.49M 0.2%
83,100
– –
TAL icon
69
TAL Education Group
TAL
$6.54B
$7.96M 0.19%
700,000
– –
BZ icon
70
Kanzhun
BZ
$7.16B
$7.21M 0.17%
538,300
-61,700
-10% -$1.05M
TTMI icon
71
TTM Technologies
TTMI
$14.8B
$6.42M 0.15%
65,900
-493,000
-88% -$46.9M
CALX icon
72
Calix
CALX
$2.5B
$5.79M 0.14%
+118,200
New +$6.2M
IBN icon
73
ICICI Bank
IBN
$107B
$4.67M 0.11%
180,300
– –
REGN icon
74
Regeneron Pharmaceuticals
REGN
$82B
$3.86M 0.09%
5,000
-25,000
-83% -$19.1M
IAU icon
75
iShares Gold Trust
IAU
$65.2B
$3.83M 0.09%
43,400
-700
-2% -$64.2K
1 2
3
4 5

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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.