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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
+13.37%
1 Year Est. Return
+66.03%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$5.85B
AUM Growth
-$1.63B
(-22%)
Cap. Flow
-$1.79B
Cap. Flow
% of AUM
-30.62%
Top 10 Holdings %
Top 10 Hldgs %
46.78%
Holding
182
New
38
Increased
22
Reduced
18
Closed
78
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard FTSE Developed Markets ETF
VEA
|
+$289M |
| 2 |
Marvell Technology
MRVL
|
+$131M |
| 3 |
Meta Platforms (Facebook)
META
|
+$120M |
| 4 |
Walmart Inc
WMT
|
+$109M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$88.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Core S&P 500 ETF
IVV
|
+$837M |
| 2 |
NVIDIA
NVDA
|
+$422M |
| 3 |
Goldman Sachs
GS
|
+$210M |
| 4 |
Palantir
PLTR
|
+$162M |
| 5 |
Apple
AAPL
|
+$162M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 35.64% |
| 2 | Communication Services | 13.96% |
| 3 | Consumer Discretionary | 8.82% |
| 4 | Consumer Staples | 7.62% |
| 5 | Healthcare | 6.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Indivior Pharmaceuticals
INDV
$4.57B
| $2.15M | 0.04% |
60,000
| – | – |
|
102
Virtus Investment Partners
VRTS
$1.12B
| $1.86M | 0.03% |
11,400
| – | – |
|
|
SOLS
103
Solstice Advanced Materials
SOLS
$9.88B
| $1.77M | 0.03% |
+36,425
| New | +$1.71M |
|
104
Ford
F
$55.1B
| $13 | ﹤0.01% |
+1
| New | +$13 |
|
105
AbbVie
ABBV
$440B
| – | – |
-125,000
| Closed | -$28.9M |
|
106
Abbott
ABT
$192B
| – | – |
-31,900
| Closed | -$4.27M |
|
107
Analog Devices
ADI
$187B
| – | – |
-60,000
| Closed | -$14.7M |
|
108
Agnico Eagle Mines
AEM
$93.8B
| – | – |
-80,000
| Closed | -$13.5M |
|
109
Aflac
AFL
$60.5B
| – | – |
-100,000
| Closed | -$11.2M |
|
110
Applied Materials
AMAT
$435B
| – | – |
-86,500
| Closed | -$17.7M |
|
111
Advanced Micro Devices
AMD
$788B
| – | – |
-640,000
| Closed | -$104M |
|
112
Applovin
APP
$102B
| – | – |
-19,700
| Closed | -$14.2M |
|
113
American Express
AXP
$232B
| – | – |
-25,500
| Closed | -$8.47M |
|
114
Blackrock
BLK
$180B
| – | – |
-6,000
| Closed | -$7M |
|
115
Bank of Montreal
BMO
$129B
| – | – |
-485,000
| Closed | -$63.2M |
|
116
Vanguard Total Bond Market
BND
$161B
| – | – |
-54,400
| Closed | -$4.05M |
|
117
Citigroup
C
$231B
| – | – |
-265,000
| Closed | -$26.9M |
|
118
Caterpillar
CAT
$393B
| – | – |
-4,000
| Closed | -$1.91M |
|
119
Chewy
CHWY
$9.15B
| – | – |
-315,000
| Closed | -$12.7M |
|
120
Canadian Natural Resources
CNQ
$98.1B
| – | – |
-2,045,000
| Closed | -$65.5M |
|
121
ConocoPhillips
COP
$153B
| – | – |
-100,000
| Closed | -$9.46M |
|
122
Credo Technology Group
CRDO
$50B
| – | – |
-240,100
| Closed | -$35M |
|
123
Salesforce
CRM
$158B
| – | – |
-111,200
| Closed | -$26.4M |
|
124
CrowdStrike
CRWD
$226B
| – | – |
-240,000
| Closed | -$29.4M |
|
125
Cisco
CSCO
$488B
| – | – |
-502,600
| Closed | -$34.4M |
|
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Nearwater Capital Markets's Q4 2025 Portfolio in Review
As of Q4 2025, Nearwater Capital Markets held 182 positions worth $5.85B, down 22% from $7.48B the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Nearwater Capital Markets withdrew a net $1.79B in Q4 2025, closing 78 positions and reducing 18 holdings. Its most notable exit was iShares Core S&P 500 ETF, an estimated $837M position sold in full.
By sector, the portfolio is most concentrated in Technology at 36% of assets, down from 38% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Nearwater Capital Markets opened a new position in Vanguard FTSE Developed Markets ETF worth $295M.
- Nearwater Capital Markets's largest Q4 2025 buy was Vanguard FTSE Developed Markets ETF: 4,714,850 shares worth $295M.
- Nearwater Capital Markets added most to Meta Platforms (Facebook) in Q4 2025, an estimated $120M increase.
- Nearwater Capital Markets's biggest Q4 2025 reduction was NVIDIA, cutting an estimated $422M.
- Nearwater Capital Markets fully exited iShares Core S&P 500 ETF in Q4 2025, selling an estimated $837M.
- Nearwater Capital Markets's ten largest holdings make up 47% of its $5.85B portfolio in Q4 2025.
- Nearwater Capital Markets opened 38 new positions and closed 78 in Q4 2025.
- Nearwater Capital Markets's portfolio value fell 22% quarter-over-quarter to $5.85B.
Based on Nearwater Capital Markets's 13F filing for Q4 2025, filed 17 Feb 2026.