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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
+12.44%
1 Year Est. Return
+88.72%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$7.48B
AUM Growth
+$1.23B
Cap. Flow
+$505M
Cap. Flow %
6.75%
Top 10 Hldgs %
48.93%
Holding
162
New
59
Increased
20
Reduced
28
Closed
18

Top Buys

Rank Stock Value
1
FISV
Fiserv Inc
FISV
+$143M
2
MSFT icon
Microsoft
MSFT
+$113M
3
RY icon
Royal Bank of Canada
RY
+$102M
4
SJM icon
J.M. Smucker
SJM
+$73.8M
5
CNQ icon
Canadian Natural Resources
CNQ
+$64M

Top Sells

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$257M
2
AVGO icon
Broadcom
AVGO
+$158M
3
JPM icon
JPMorgan Chase
JPM
+$57.1M
4
CTAS icon
Cintas
CTAS
+$44.6M
5
PLTR icon
Palantir
PLTR
+$39.5M

Sector Composition

Rank Sector Weight
1 Technology 37.71%
2 Financials 17.09%
3 Miscellaneous 13.61%
4 Communication Services 8.76%
5 Consumer Discretionary 8.16%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GEV icon
101
GE Vernova
GEV
$256B
$10.9M 0.15%
+17,700
New +$10.7M
MMM icon
102
3M
MMM
$86.9B
$10.9M 0.15%
70,000
– –
CX icon
103
Cemex
CX
$13.9B
$10.7M 0.14%
+1,189,900
New +$10.2M
GWW icon
104
W.W. Grainger
GWW
$58.8B
$10.5M 0.14%
11,000
– –
PNC icon
105
PNC Financial Services
PNC
$88.4B
$10M 0.13%
50,000
-25,000
-33% -$4.94M
TLT icon
106
iShares 20+ Year Treasury Bond ETF
TLT
$44B
$9.83M 0.13%
110,000
-250,000
-69% -$21.9M
LULU icon
107
lululemon athletica
LULU
$10.7B
$9.79M 0.13%
55,000
– –
BOX icon
108
Box
BOX
$4.49B
$9.68M 0.13%
300,000
– –
XOM icon
109
ExxonMobil
XOM
$663B
$9.58M 0.13%
85,000
– –
COP icon
110
ConocoPhillips
COP
$151B
$9.46M 0.13%
100,000
– –
ADP icon
111
Automatic Data Processing
ADP
$104B
$9.39M 0.13%
32,000
-35,000
-52% -$10.5M
TFC icon
112
Truist Financial
TFC
$56.7B
$9.14M 0.12%
200,000
– –
WELL icon
113
Welltower
WELL
$168B
$8.91M 0.12%
50,000
-50,000
-50% -$8.22M
AXP icon
114
American Express
AXP
$206B
$8.47M 0.11%
25,500
-50,000
-66% -$15.9M
QCOM icon
115
Qualcomm
QCOM
$197B
$8.32M 0.11%
50,000
-130,000
-72% -$20.6M
DPZ icon
116
Domino's
DPZ
$9.98B
$8.2M 0.11%
+19,000
New +$8.63M
NVR icon
117
NVR
NVR
$16.6B
$8.03M 0.11%
1,000
– –
TAL icon
118
TAL Education Group
TAL
$6.51B
$7.84M 0.1%
+700,000
New +$7.54M
EQIX icon
119
Equinix
EQIX
$100B
$7.83M 0.1%
10,000
– –
JCI icon
120
Johnson Controls International
JCI
$90.5B
$7.7M 0.1%
+70,000
New +$7.48M
FCX icon
121
Freeport-McMoran
FCX
$102B
$7.45M 0.1%
190,000
– –
ESE icon
122
ESCO Technologies
ESE
$6.88B
$7.3M 0.1%
+34,600
New +$6.85M
QFIN icon
123
Qfin Holdings
QFIN
$822M
$7.2M 0.1%
+250,000
New +$8.5M
BLK icon
124
Blackrock
BLK
$165B
$7M 0.09%
6,000
– –
MOG.A icon
125
Moog Inc Class A
MOG.A
$12.3B
$6.96M 0.09%
+33,500
New +$6.47M
3 4
5
6 7

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SCM
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CCM
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LFG
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JWCA
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KCM
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MSRPS
Maryland State Retirement & Pension System Baltimore, Maryland $5.84B AUM 38.19% 1-Year Est. Return
SDIC
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Nearwater Capital Markets's Q3 2025 Portfolio in Review

As of Q3 2025, Nearwater Capital Markets held 162 positions worth $7.48B, up 20% from $6.25B the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Nearwater Capital Markets deployed $505M of net new capital in Q3 2025, opening 59 new positions and adding to 20 existing holdings. Its largest new stake was Fiserv Inc: 995,000 shares worth $128M.

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

On the sell side, the largest reduction was Meta Platforms (Facebook), an estimated $257M trimmed.

  • Nearwater Capital Markets's largest Q3 2025 buy was Fiserv Inc: 995,000 shares worth $128M.
  • Nearwater Capital Markets added most to Microsoft in Q3 2025, an estimated $113M increase.
  • Nearwater Capital Markets's biggest Q3 2025 reduction was Meta Platforms (Facebook), cutting an estimated $257M.
  • Nearwater Capital Markets fully exited Cintas in Q3 2025, selling an estimated $44.6M.
  • Nearwater Capital Markets's ten largest holdings make up 49% of its $7.48B portfolio in Q3 2025.
  • Nearwater Capital Markets opened 59 new positions and closed 18 in Q3 2025.
  • Nearwater Capital Markets's portfolio value rose 20% quarter-over-quarter to $7.48B.

Based on Nearwater Capital Markets's 13F filing for Q3 2025, filed 13 Nov 2025.