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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
(+78%)
Cap. Flow
+$1.93B
Cap. Flow
% of AUM
30.8%
Top 10 Holdings %
Top 10 Hldgs %
57.24%
Holding
124
New
35
Increased
30
Reduced
23
Closed
21
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$334M |
| 2 |
Meta Platforms (Facebook)
META
|
+$227M |
| 3 |
Apple
AAPL
|
+$207M |
| 4 |
Microsoft
MSFT
|
+$166M |
| 5 |
Goldman Sachs
GS
|
+$153M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$280M |
| 2 |
Mastercard
MA
|
+$57.8M |
| 3 |
American Airlines Group
AAL
|
+$29M |
| 4 |
Accenture
ACN
|
+$28.1M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
101
Travelers Companies
TRV
$78B
| $4.01M | 0.06% |
15,000
-50,000
| -77% | -$13.2M |
|
|
102
American Airlines Group
AAL
$9.95B
| – | – |
-2,750,000
| Closed | -$29M |
|
|
103
Accenture
ACN
$109B
| – | – |
-90,000
| Closed | -$28.1M |
|
104
Apollo Global Management
APO
$81.3B
| – | – |
-87,832
| Closed | -$12M |
|
105
Bristol-Myers Squibb
BMY
$130B
| – | – |
-280,000
| Closed | -$17.1M |
|
106
Chubb
CB
$133B
| – | – |
-36,000
| Closed | -$10.9M |
|
107
Comcast
CMCSA
$89.4B
| – | – |
-460,000
| Closed | -$17M |
|
108
Deere & Co
DE
$167B
| – | – |
-34,953
| Closed | -$16.4M |
|
109
Elevance Health
ELV
$85.8B
| – | – |
-40,670
| Closed | -$17.7M |
|
110
IBM
IBM
$221B
| – | – |
-50,000
| Closed | -$12.4M |
|
111
Johnson Controls International
JCI
$93.3B
| – | – |
-125,929
| Closed | -$10.1M |
|
112
Merck
MRK
$330B
| – | – |
-100,000
| Closed | -$8.98M |
|
113
NXP Semiconductors
NXPI
$59.2B
| – | – |
-50,000
| Closed | -$9.5M |
|
114
Oracle
ORCL
$435B
| – | – |
-80,000
| Closed | -$11.2M |
|
115
Procter & Gamble
PG
$335B
| – | – |
-90,000
| Closed | -$15.3M |
|
116
Phillips 66
PSX
$89.7B
| – | – |
-100,000
| Closed | -$12.3M |
|
117
Sherwin-Williams
SHW
$87.9B
| – | – |
-42,000
| Closed | -$14.7M |
|
|
118
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| – | – |
-500,000
| Closed | -$280M |
|
119
AT&T
T
$165B
| – | – |
-700,000
| Closed | -$19.8M |
|
120
TransDigm Group
TDG
$68.9B
| – | – |
-9,300
| Closed | -$12.9M |
|
|
X
121
DELISTED
US Steel
X
| – | – |
-400,000
| Closed | -$16.9M |
|
122
Xcel Energy
XEL
$48.7B
| – | – |
-193,963
| Closed | -$13.7M |
|
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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.