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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 | |
|---|---|---|---|---|---|---|
|
FISV
101
Fiserv Inc
FISV
$29B
| – | – |
-995,000
| Closed | -$66.8M |
|
102
iShares China Large-Cap ETF
FXI
$4.15B
| – | – |
-2,785,000
| Closed | -$107M |
|
103
GE Aerospace
GE
$374B
| – | – |
-110,000
| Closed | -$33.9M |
|
104
SPDR Gold MiniShares Trust
GLDM
$29.8B
| – | – |
-276,600
| Closed | -$23.6M |
|
105
Granite Construction
GVA
$5.46B
| – | – |
-118,000
| Closed | -$13.6M |
|
106
Hyatt Hotels
H
$16.8B
| – | – |
-120,000
| Closed | -$19.2M |
|
107
Hamilton Insurance Group
HG
$2.31B
| – | – |
-120,100
| Closed | -$3.35M |
|
108
Honeywell
HON
$74.4B
| – | – |
-145,700
| Closed | -$28.4M |
|
109
Indivior Pharmaceuticals
INDV
$4.52B
| – | – |
-60,000
| Closed | -$2.15M |
|
110
Intuit
INTU
$97B
| – | – |
-13,000
| Closed | -$8.61M |
|
111
KLA
KLAC
$275B
| – | – |
-140,000
| Closed | -$17M |
|
112
Kenvue
KVUE
$36.9B
| – | – |
-1,990,000
| Closed | -$34.3M |
|
113
Klaviyo
KVYO
$5.34B
| – | – |
-600,000
| Closed | -$19.5M |
|
114
Cheniere Energy
LNG
$55.3B
| – | – |
-47,000
| Closed | -$9.14M |
|
115
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$32.8B
| – | – |
-109,600
| Closed | -$12.1M |
|
116
Stride
LRN
$3.44B
| – | – |
-488,000
| Closed | -$31.7M |
|
117
Southwest Airlines
LUV
$22.1B
| – | – |
-2,800,000
| Closed | -$116M |
|
118
Moog Inc Class A
MOG.A
$13.5B
| – | – |
-33,500
| Closed | -$8.16M |
|
119
Marvell Technology
MRVL
$202B
| – | – |
-1,495,000
| Closed | -$127M |
|
|
120
Micron Technology
MU
$1.09T
| – | – |
-690,000
| Closed | -$197M |
|
121
Netflix
NFLX
$323B
| – | – |
-350,000
| Closed | -$32.8M |
|
122
PepsiCo
PEP
$191B
| – | – |
-270,000
| Closed | -$38.8M |
|
123
Progressive
PGR
$122B
| – | – |
-61,000
| Closed | -$13.9M |
|
124
Packaging Corp of America
PKG
$22.9B
| – | – |
-143,000
| Closed | -$29.5M |
|
125
Prologis
PLD
$134B
| – | – |
-100,000
| Closed | -$12.8M |
|
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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.