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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
IVV icon
1
iShares Core S&P 500 ETF
IVV
$902B
$837M 11.19%
1,250,000
– –
NVDA icon
2
NVIDIA
NVDA
$5.42T
$771M 10.3%
4,130,200
-86,100
-2% -$15M
MSFT icon
3
Microsoft
MSFT
$3.71T
$486M 6.5%
938,675
+222,100
+31% +$113M
AAPL icon
4
Apple
AAPL
$4.57T
$349M 4.66%
1,368,900
+90,900
+7% +$20.5M
AVGO icon
5
Broadcom
AVGO
$2.04T
$278M 3.72%
844,000
-514,274
-38% -$158M
GOOGL icon
6
Alphabet (Google) Class A
GOOGL
$4.33T
$243M 3.24%
998,000
-78,000
-7% -$16.3M
GS icon
7
Goldman Sachs
GS
$303B
$210M 2.81%
264,015
– –
META icon
8
Meta Platforms (Facebook)
META
$1.51T
$170M 2.27%
231,000
-345,500
-60% -$257M
PLTR icon
9
Palantir
PLTR
$413B
$162M 2.17%
890,388
-243,700
-21% -$39.5M
AMZN icon
10
Amazon
AMZN
$2.96T
$154M 2.06%
703,300
-142,800
-17% -$32.3M
TSLA icon
11
Tesla
TSLA
$1.3T
$151M 2.02%
340,000
+74,000
+28% +$25.7M
MS icon
12
Morgan Stanley
MS
$340B
$146M 1.95%
916,809
– –
GOOG icon
13
Alphabet (Google) Class C
GOOG
$4.32T
$138M 1.84%
566,500
-8,500
-1% -$1.79M
BAC icon
14
Bank of America
BAC
$442B
$137M 1.83%
2,650,000
+900,000
+51% +$43.9M
SCHW
15
Charles Schwab
SCHW
$187B
$136M 1.82%
1,424,879
– –
FISV
16
Fiserv Inc
FISV
$27.9B
$128M 1.72%
+995,000
New +$143M
RY icon
17
Royal Bank of Canada
RY
$293B
$109M 1.45%
+738,000
New +$102M
AMD icon
18
Advanced Micro Devices
AMD
$789B
$104M 1.38%
640,000
– –
BRK.B icon
19
Berkshire Hathaway Class B
BRK.B
$1.13T
$92.9M 1.24%
184,800
+7,800
+4% +$3.78M
GDXJ icon
20
VanEck Junior Gold Miners ETF
GDXJ
$8.46B
$85.2M 1.14%
860,000
-250,000
-23% -$19.2M
SJM icon
21
J.M. Smucker
SJM
$12.8B
$73.8M 0.99%
+680,000
New +$73.8M
HD icon
22
Home Depot
HD
$355B
$69.9M 0.94%
172,600
+152,600
+763% +$60M
BKNG icon
23
Booking.com
BKNG
$161B
$68M 0.91%
315,000
+215,000
+215% +$48M
WMT icon
24
Walmart Inc
WMT
$890B
$66.9M 0.89%
649,100
+424,100
+188% +$42.2M
CNQ icon
25
Canadian Natural Resources
CNQ
$93.8B
$65.5M 0.88%
+2,045,000
New +$64M
1
2 3 4 5

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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.