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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
+21.86%
1 Year Est. Return
+66.03%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$6.25B
AUM Growth
+$2.74B
(+78%)
Cap. Flow
+$1.93B
Cap. Flow
% of AUM
30.8%
Top 10 Holdings %
Top 10 Hldgs %
57.24%
Holding
124
New
35
Increased
30
Reduced
23
Closed
21
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$334M |
| 2 |
Meta Platforms (Facebook)
META
|
+$227M |
| 3 |
Apple
AAPL
|
+$207M |
| 4 |
Microsoft
MSFT
|
+$166M |
| 5 |
Goldman Sachs
GS
|
+$153M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$280M |
| 2 |
Mastercard
MA
|
+$57.8M |
| 3 |
American Airlines Group
AAL
|
+$29M |
| 4 |
Accenture
ACN
|
+$28.1M |
| 5 |
RTX Corp
RTX
|
+$27.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 38.2% |
| 2 | Financials | 16.04% |
| 3 | Communication Services | 12.83% |
| 4 | Consumer Discretionary | 6.56% |
| 5 | Industrials | 3.83% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
iShares Core S&P 500 ETF
IVV
$897B
| $776M | 12.42% |
1,250,000
+250,000
| +25% | +$144M |
|
|
2
NVIDIA
NVDA
$5.3T
| $666M | 10.66% |
4,216,300
+2,656,300
| +170% | +$334M |
|
|
3
Meta Platforms (Facebook)
META
$1.5T
| $426M | 6.81% |
576,500
+367,500
| +176% | +$227M |
|
4
Broadcom
AVGO
$2T
| $374M | 5.99% |
1,358,274
+342,000
| +34% | +$74.3M |
|
|
5
Microsoft
MSFT
$3.71T
| $356M | 5.7% |
716,575
+382,800
| +115% | +$166M |
|
|
6
Apple
AAPL
$4.56T
| $262M | 4.2% |
1,278,000
+1,023,000
| +401% | +$207M |
|
7
Alphabet (Google) Class A
GOOGL
$4.38T
| $190M | 3.03% |
1,076,000
+435,000
| +68% | +$71.2M |
|
|
8
Goldman Sachs
GS
$301B
| $187M | 2.99% |
+264,015
| New | +$153M |
|
9
Amazon
AMZN
$2.94T
| $186M | 2.97% |
846,100
+406,100
| +92% | +$80.4M |
|
10
Palantir
PLTR
$375B
| $155M | 2.47% |
1,134,088
+753,818
| +198% | +$88.4M |
|
|
SCHW
11
Charles Schwab
SCHW
$187B
| $130M | 2.08% |
1,424,879
+1,324,879
| +1,325% | +$111M |
|
12
Morgan Stanley
MS
$336B
| $129M | 2.07% |
916,809
+595,036
| +185% | +$73.1M |
|
13
JPMorgan Chase
JPM
$947B
| $105M | 1.68% |
362,000
+54,000
| +18% | +$13.8M |
|
|
14
Alphabet (Google) Class C
GOOG
$4.36T
| $102M | 1.63% |
+575,000
| New | +$95M |
|
15
Advanced Micro Devices
AMD
$799B
| $90.8M | 1.45% |
+640,000
| New | +$69.7M |
|
16
Berkshire Hathaway Class B
BRK.B
$1.13T
| $86M | 1.38% |
177,000
+121,698
| +220% | +$61.8M |
|
17
Tesla
TSLA
$1.26T
| $84.5M | 1.35% |
266,000
+175,000
| +192% | +$52.7M |
|
18
Bank of America
BAC
$441B
| $82.8M | 1.32% |
1,750,000
+780,000
| +80% | +$32.8M |
|
19
VanEck Junior Gold Miners ETF
GDXJ
$7.86B
| $75M | 1.2% |
1,110,000
+360,000
| +48% | +$22.8M |
|
20
iShares China Large-Cap ETF
FXI
$4.29B
| $64M | 1.02% |
1,740,000
+100,000
| +6% | +$3.5M |
|
|
21
Mastercard
MA
$505B
| $56.2M | 0.9% |
100,000
-104,432
| -51% | -$57.8M |
|
22
Walt Disney
DIS
$181B
| $54.6M | 0.87% |
440,000
-130,000
| -23% | -$13.5M |
|
23
Adobe
ADBE
$103B
| $46M | 0.74% |
+119,000
| New | +$45.9M |
|
24
Cintas
CTAS
$80.9B
| $44.6M | 0.71% |
+200,000
| New | +$43M |
|
25
Micron Technology
MU
$996B
| $42M | 0.67% |
341,000
| – | – |
|
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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 Communication Services.
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.