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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
+12.44%
1 Year Est. Return
+66.03%
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 Communication Services 8.76%
4 Consumer Discretionary 8.16%
5 Healthcare 4.4%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EAT icon
151
Brinker International
EAT
$10.5B
– –
-65,000
Closed -$11.7M
GD icon
152
General Dynamics
GD
$107B
– –
-65,000
Closed -$19M
IBKR icon
153
Interactive Brokers
IBKR
$41.5B
– –
-440,000
Closed -$24.4M
ICE icon
154
Intercontinental Exchange
ICE
$85B
– –
-80,000
Closed -$14.7M
MRSH
155
Marsh
MRSH
$90.1B
– –
-70,519
Closed -$15.4M
NFLX icon
156
Netflix
NFLX
$309B
– –
-226,000
Closed -$30.3M
PCG icon
157
PG&E
PCG
$38.3B
– –
-1,000,000
Closed -$13.9M
SYK icon
158
Stryker
SYK
$133B
– –
-38,830
Closed -$15.4M
TFX icon
159
Teleflex
TFX
$6.03B
– –
-290,000
Closed -$34.3M
WDC icon
160
Western Digital
WDC
$157B
– –
-504,000
Closed -$32.3M
3 4 5 6
7

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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 Communication Services.

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.