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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
+21.86%
1 Year Est. Return
+88.72%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$6.25B
AUM Growth
+$2.74B
Cap. Flow
+$1.93B
Cap. Flow %
30.8%
Top 10 Hldgs %
57.24%
Holding
124
New
35
Increased
30
Reduced
23
Closed
21

Top Buys

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$334M
2
META icon
Meta Platforms (Facebook)
META
+$227M
3
AAPL icon
Apple
AAPL
+$207M
4
MSFT icon
Microsoft
MSFT
+$166M
5
GS icon
Goldman Sachs
GS
+$153M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$280M
2
MA icon
Mastercard
MA
+$57.8M
3
AAL icon
American Airlines Group
AAL
+$29M
4
ACN icon
Accenture
ACN
+$28.1M
5
RTX icon
RTX Corp
RTX
+$27.3M

Sector Composition

Rank Sector Weight
1 Technology 38.2%
2 Financials 16.04%
3 Miscellaneous 15.44%
4 Communication Services 12.83%
5 Consumer Discretionary 6.56%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IVV icon
1
iShares Core S&P 500 ETF
IVV
$878B
$776M 12.42%
1,250,000
+250,000
+25% +$144M
NVDA icon
2
NVIDIA
NVDA
$5.49T
$666M 10.66%
4,216,300
+2,656,300
+170% +$334M
META icon
3
Meta Platforms (Facebook)
META
$1.88T
$426M 6.81%
576,500
+367,500
+176% +$227M
AVGO icon
4
Broadcom
AVGO
$1.7T
$374M 5.99%
1,358,274
+342,000
+34% +$74.3M
MSFT icon
5
Microsoft
MSFT
$3.78T
$356M 5.7%
716,575
+382,800
+115% +$166M
AAPL icon
6
Apple
AAPL
$4.81T
$262M 4.2%
1,278,000
+1,023,000
+401% +$207M
GOOGL icon
7
Alphabet (Google) Class A
GOOGL
$4.17T
$190M 3.03%
1,076,000
+435,000
+68% +$71.2M
GS icon
8
Goldman Sachs
GS
$267B
$187M 2.99%
+264,015
New +$153M
AMZN icon
9
Amazon
AMZN
$2.66T
$186M 2.97%
846,100
+406,100
+92% +$80.4M
PLTR icon
10
Palantir
PLTR
$449B
$155M 2.47%
1,134,088
+753,818
+198% +$88.4M
SCHW
11
Charles Schwab
SCHW
$171B
$130M 2.08%
1,424,879
+1,324,879
+1,325% +$111M
MS icon
12
Morgan Stanley
MS
$303B
$129M 2.07%
916,809
+595,036
+185% +$73.1M
JPM icon
13
JPMorgan Chase
JPM
$890B
$105M 1.68%
362,000
+54,000
+18% +$13.8M
GOOG icon
14
Alphabet (Google) Class C
GOOG
$4.13T
$102M 1.63%
+575,000
New +$95M
AMD icon
15
Advanced Micro Devices
AMD
$992B
$90.8M 1.45%
+640,000
New +$69.7M
BRK.B icon
16
Berkshire Hathaway Class B
BRK.B
$1.08T
$86M 1.38%
177,000
+121,698
+220% +$61.8M
TSLA icon
17
Tesla
TSLA
$1.39T
$84.5M 1.35%
266,000
+175,000
+192% +$52.7M
BAC icon
18
Bank of America
BAC
$384B
$82.8M 1.32%
1,750,000
+780,000
+80% +$32.8M
GDXJ icon
19
VanEck Junior Gold Miners ETF
GDXJ
$8.55B
$75M 1.2%
1,110,000
+360,000
+48% +$22.8M
FXI icon
20
iShares China Large-Cap ETF
FXI
$4.04B
$64M 1.02%
1,740,000
+100,000
+6% +$3.5M
MA icon
21
Mastercard
MA
$494B
$56.2M 0.9%
100,000
-104,432
-51% -$57.8M
DIS icon
22
Walt Disney
DIS
$182B
$54.6M 0.87%
440,000
-130,000
-23% -$13.5M
ADBE icon
23
Adobe
ADBE
$92.7B
$46M 0.74%
+119,000
New +$45.9M
CTAS icon
24
Cintas
CTAS
$79B
$44.6M 0.71%
+200,000
New +$43M
MU icon
25
Micron Technology
MU
$1.2T
$42M 0.67%
341,000
– –
1
2 3 4 5

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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
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Nearwater Capital Markets's Q2 2025 Portfolio in Review

As of Q2 2025, Nearwater Capital Markets held 124 positions worth $6.25B, up 78% from $3.51B the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Nearwater Capital Markets deployed $1.93B of net new capital in Q2 2025, opening 35 new positions and adding to 30 existing holdings. Its largest new stake was Goldman Sachs: 264,015 shares worth $187M.

By sector, the portfolio is most concentrated in Technology at 38% of assets, up from 23% a quarter earlier, followed by Financials and Miscellaneous.

On the sell side, the largest reduction was Mastercard, an estimated $57.8M trimmed.

  • Nearwater Capital Markets's largest Q2 2025 buy was Goldman Sachs: 264,015 shares worth $187M.
  • Nearwater Capital Markets added most to NVIDIA in Q2 2025, an estimated $334M increase.
  • Nearwater Capital Markets's biggest Q2 2025 reduction was Mastercard, cutting an estimated $57.8M.
  • Nearwater Capital Markets fully exited State Street SPDR S&P 500 ETF Trust in Q2 2025, selling an estimated $280M.
  • Nearwater Capital Markets's ten largest holdings make up 57% of its $6.25B portfolio in Q2 2025.
  • Nearwater Capital Markets opened 35 new positions and closed 21 in Q2 2025.
  • Nearwater Capital Markets's portfolio value rose 78% quarter-over-quarter to $6.25B.

Based on Nearwater Capital Markets's 13F filing for Q2 2025, filed 13 Aug 2025.