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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
Cap. Flow
-$1.79B
Cap. Flow %
-30.62%
Top 10 Hldgs %
46.78%
Holding
182
New
38
Increased
22
Reduced
18
Closed
78

Top Buys

Rank Stock Value
1
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$289M
2
MRVL icon
Marvell Technology
MRVL
+$131M
3
META icon
Meta Platforms (Facebook)
META
+$120M
4
WMT icon
Walmart Inc
WMT
+$109M
5
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$88.9M

Top Sells

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$837M
2
NVDA icon
NVIDIA
NVDA
+$422M
3
GS icon
Goldman Sachs
GS
+$210M
4
PLTR icon
Palantir
PLTR
+$162M
5
AAPL icon
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
UBER icon
176
Uber
UBER
$154B
– –
-220,000
Closed -$21.6M
UNH icon
177
UnitedHealth
UNH
$364B
– –
-79,000
Closed -$27.3M
WELL icon
178
Welltower
WELL
$166B
– –
-50,000
Closed -$8.91M
WFC icon
179
Wells Fargo
WFC
$269B
– –
-360,000
Closed -$30.2M
XOM icon
180
ExxonMobil
XOM
$657B
– –
-85,000
Closed -$9.58M
GEV icon
181
GE Vernova
GEV
$277B
– –
-17,700
Closed -$10.9M
JOYY
182
JOYY Inc
JOYY
$3.74B
– –
-45,500
Closed -$2.67M
4 5 6 7
8

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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.