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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
+38.52%
1 Year Est. Return
+88.72%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$5.8B
AUM Growth
+$1.56B
Cap. Flow
+$905M
Cap. Flow %
15.61%
Top 10 Hldgs %
40.13%
Holding
146
New
64
Increased
15
Reduced
15
Closed
46

Top Buys

Rank Stock Value
1
GDX icon
VanEck Gold Miners ETF
GDX
+$234M
2
RVMD icon
Revolution Medicines
RVMD
+$207M
3
AMZN icon
Amazon
AMZN
+$173M
4
UBER icon
Uber
UBER
+$160M
5
AMD icon
Advanced Micro Devices
AMD
+$159M

Top Sells

Rank Stock Value
1
SPDW icon
State Street SPDR Portfolio Developed World ex-US ETF
SPDW
+$276M
2
AAPL icon
Apple
AAPL
+$164M
3
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$143M
4
GDXJ icon
VanEck Junior Gold Miners ETF
GDXJ
+$138M
5
SNDK
Sandisk
SNDK
+$137M

Sector Composition

Rank Sector Weight
1 Technology 31.18%
2 Miscellaneous 17.07%
3 Consumer Discretionary 13.98%
4 Healthcare 13.37%
5 Industrials 9.37%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MA icon
126
Mastercard
MA
$494B
– –
-109,000
Closed -$54.5M
MCD icon
127
McDonald's
MCD
$166B
– –
-109,000
Closed -$33.9M
META icon
128
Meta Platforms (Facebook)
META
$1.88T
– –
-107,000
Closed -$61.2M
MSI icon
129
Motorola Solutions
MSI
$73.8B
– –
-60,000
Closed -$26M
NEM icon
130
Newmont
NEM
$123B
– –
-702,000
Closed -$76M
PBF icon
131
PBF Energy
PBF
$8.92B
– –
-200,000
Closed -$9.52M
PDD icon
132
Pinduoduo
PDD
$110B
– –
-83,100
Closed -$8.49M
PEN icon
133
Penumbra
PEN
$12.6B
– –
-50,000
Closed -$16.4M
PG icon
134
Procter & Gamble
PG
$344B
– –
-435,000
Closed -$62.8M
QFIN icon
135
Qfin Holdings
QFIN
$822M
– –
-250,000
Closed -$3.23M
REGN icon
136
Regeneron Pharmaceuticals
REGN
$77.3B
– –
-5,000
Closed -$3.86M
SJM icon
137
J.M. Smucker
SJM
$12.9B
– –
-200,000
Closed -$19.3M
SPDW icon
138
State Street SPDR Portfolio Developed World ex-US ETF
SPDW
$41.3B
– –
-6,039,200
Closed -$276M
TERN
139
DELISTED
Terns Pharmaceuticals
TERN
– –
-2,150,400
Closed -$113M
VEA icon
140
Vanguard FTSE Developed Markets ETF
VEA
$232B
– –
-2,227,000
Closed -$143M
VPL icon
141
Vanguard FTSE Pacific ETF
VPL
$8.64B
– –
-787,900
Closed -$77M
WDAY icon
142
Workday
WDAY
$45.6B
– –
-115,000
Closed -$14.9M
WELL icon
143
Welltower
WELL
$168B
– –
-14,600
Closed -$2.89M
WFC icon
144
Wells Fargo
WFC
$243B
– –
-1,004,000
Closed -$79.9M
QQQI icon
145
NEOS Nasdaq 100 High Income ETF
QQQI
$14.9B
– –
-700,000
Closed -$34.8M
OS
146
DELISTED
OneStream Inc
OS
– –
-707,800
Closed -$17M
2 3 4 5
6

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Nearwater Capital Markets's Q2 2026 Portfolio in Review

As of Q2 2026, Nearwater Capital Markets held 146 positions worth $5.8B, up 37% from $4.24B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Nearwater Capital Markets deployed $905M of net new capital in Q2 2026, opening 64 new positions and adding to 15 existing holdings. Its largest new stake was Uber: 2,181,000 shares worth $157M.

By sector, the portfolio is most concentrated in Technology at 31% of assets, up from 26% a quarter earlier, followed by Miscellaneous and Consumer Discretionary.

On the sell side, the largest reduction was Apple, an estimated $164M trimmed.

  • Nearwater Capital Markets's largest Q2 2026 buy was Uber: 2,181,000 shares worth $157M.
  • Nearwater Capital Markets added most to VanEck Gold Miners ETF in Q2 2026, an estimated $234M increase.
  • Nearwater Capital Markets's biggest Q2 2026 reduction was Apple, cutting an estimated $164M.
  • Nearwater Capital Markets fully exited State Street SPDR Portfolio Developed World ex-US ETF in Q2 2026, selling an estimated $276M.
  • Nearwater Capital Markets's ten largest holdings make up 40% of its $5.8B portfolio in Q2 2026.
  • Nearwater Capital Markets opened 64 new positions and closed 46 in Q2 2026.
  • Nearwater Capital Markets's portfolio value rose 37% quarter-over-quarter to $5.8B.

Based on Nearwater Capital Markets's 13F filing for Q2 2026, filed 14 Aug 2026.