Q3 2025 · 13F-HR
Nearwater Capital Markets, Ltdholdings as filed
Filed 2025-11-13 · accession 0001915842-25-000021
$7.48B
Reported value
144
Positions
2025-09-30
Period end
The Brief · Nearwater Capital Markets, Ltd · Q3 2025
AI · grounded in 13F
Nearwater Capital Markets, Ltd established a new position in FISV valued at $128.3M. The fund also opened new stakes in RY for $108.8M and SJM for $73.8M. On the sell side, the fund trimmed its holdings in META by 59.9% and JPM by 53%. Other activity included increasing its position in MSFT by 31%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 464287200 | IVV | ISHARES CORE S&P 500 ETF | $836.6M | 11.2% | 1,250,000 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA ORD | $770.6M | 10.3% | 4,130,200 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT ORD | $486.2M | 6.50% | 938,675 | Common | SOLE |
| 037833100 | AAPL | APPLE ORD | $348.6M | 4.66% | 1,368,900 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM ORD | $278.4M | 3.72% | 844,000 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET CL A ORD | $242.6M | 3.24% | 998,000 | Common | SOLE |
| 38141G104 | GS | GOLDMAN SACHS GROUP ORD | $210.2M | 2.81% | 264,015 | Common | SOLE |
| 30303M102 | META | META PLATFORMS CL A ORD | $169.6M | 2.27% | 231,000 | Common | SOLE |
| 69608A108 | PLTR | PALANTIR TECHNOLOGIES CL A ORD | $162.4M | 2.17% | 890,388 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM ORD | $154.4M | 2.06% | 703,300 | Common | SOLE |
| 88160R101 | TSLA | TESLA ORD | $151.2M | 2.02% | 340,000 | Common | SOLE |
| 617446448 | MS | MORGAN STANLEY ORD | $145.7M | 1.95% | 916,809 | Common | SOLE |
| 02079K107 | GOOG | ALPHABET CL C ORD | $138.0M | 1.84% | 566,500 | Common | SOLE |
| 060505104 | BAC | BANK OF AMERICA ORD | $136.7M | 1.83% | 2,650,000 | Common | SOLE |
| 808513105 | SCHW | CHARLES SCHWAB ORD | $136.0M | 1.82% | 1,424,879 | Common | SOLE |
| 337738108 | FISV | FISERV ORD | $128.3M | 1.72% | 995,000 | Common | SOLE |
| 780087102 | RY | ROYAL BANK OF CANADA ORD | $108.8M | 1.45% | 738,000 | Common | SOLE |
| 007903107 | AMD | ADVANCED MICRO DEVICES ORD | $103.5M | 1.38% | 640,000 | Common | SOLE |
| 084670702 | BRK/B | BERKSHIRE HATHAWAY CL B ORD | $92.9M | 1.24% | 184,800 | Common | SOLE |
| 92189F791 | GDXJ | VANECK JUNIOR GOLD MINERS ETF | $85.2M | 1.14% | 860,000 | Common | SOLE |
| 832696405 | SJM | JM SMUCKER ORD | $73.8M | 0.99% | 680,000 | Common | SOLE |
| 437076102 | HD | HOME DEPOT ORD | $69.9M | 0.94% | 172,600 | Common | SOLE |
| 09857L108 | BKNG | BOOKING HOLDINGS ORD | $68.0M | 0.91% | 12,600 | Common | SOLE |
| 931142103 | WMT | WALMART ORD | $66.9M | 0.89% | 649,100 | Common | SOLE |
| 136385101 | CNQ | CDN NATURAL RESOURCE ORD | $65.5M | 0.88% | 2,045,000 | Common | SOLE |
| 375558103 | GILD | GILEAD SCIENCES ORD | $65.5M | 0.88% | 590,000 | Common | SOLE |
| 063671101 | BMO | BANK OF MONTREAL ORD | $63.2M | 0.84% | 485,000 | Common | SOLE |
| 56501R106 | MFC | MANULIFE FINANCIAL ORD | $59.2M | 0.79% | 1,900,000 | Common | SOLE |
| 595112103 | MU | MICRON TECHNOLOGY ORD | $57.1M | 0.76% | 341,000 | Common | SOLE |
| 57636Q104 | MA | MASTERCARD CL A ORD | $56.9M | 0.76% | 100,000 | Common | SOLE |
| 46625H100 | JPM | JPMORGAN CHASE ORD | $53.6M | 0.72% | 170,000 | Common | SOLE |
| 512807306 | LRCX | LAM RESEARCH ORD | $52.3M | 0.70% | 390,400 | Common | SOLE |
| 844741108 | LUV | SOUTHWEST AIRLINES ORD | $51.1M | 0.68% | 1,600,000 | Common | SOLE |
| 438516106 | HON | HONEYWELL INTERNATIONAL ORD | $50.2M | 0.67% | 238,700 | Common | SOLE |
| 22160K105 | COST | COSTCO WHOLESALE ORD | $49.3M | 0.66% | 53,300 | Common | SOLE |
| 254687106 | DIS | WALT DISNEY ORD | $43.9M | 0.59% | 383,200 | Common | SOLE |
| 580135101 | MCD | MCDONALD'S ORD | $40.4M | 0.54% | 133,000 | Common | SOLE |
| 46438F101 | IBIT | ISHARES BITCOIN ETF | $39.0M | 0.52% | 600,000 | Common | SOLE |
| 464287184 | FXI | ISHARES CHINA LARGE CAP ETF | $38.7M | 0.52% | 940,000 | Common | SOLE |
| 98138H101 | WDAY | WORKDAY CL A ORD | $36.1M | 0.48% | 150,000 | Common | SOLE |
| 532457108 | LLY | ELI LILLY ORD | $35.7M | 0.48% | 46,800 | Common | SOLE |
| 00724F101 | ADBE | ADOBE ORD | $35.3M | 0.47% | 100,000 | Common | SOLE |
| G25457105 | CRDO | CREDO TECHNOLOGY GROUP HOLDING ORD | $35.0M | 0.47% | 240,100 | Common | SOLE |
| 17275R102 | CSCO | CISCO SYSTEMS ORD | $34.4M | 0.46% | 502,600 | Common | SOLE |
| 743315103 | PGR | PROGRESSIVE ORD | $33.3M | 0.45% | 135,000 | Common | SOLE |
| G5960L103 | MDT | MEDTRONIC ORD | $33.3M | 0.45% | 350,000 | Common | SOLE |
| 478160104 | JNJ | JOHNSON & JOHNSON ORD | $33.2M | 0.44% | 179,300 | Common | SOLE |
| 539830109 | LMT | LOCKHEED MARTIN ORD | $32.4M | 0.43% | 65,000 | Common | SOLE |
| 949746101 | WMT2 | WELLS FARGO ORD | $30.2M | 0.40% | 360,000 | Common | SOLE |
| 866796105 | SLF | SUN LIFE FINANCIAL ORD | $29.4M | 0.39% | 490,000 | Common | SOLE |
| 22788C105 | CRWD | CROWDSTRIKE HOLDINGS CL A ORD | $29.4M | 0.39% | 60,000 | Common | SOLE |
| 00287Y109 | ABBV | ABBVIE ORD | $28.9M | 0.39% | 125,000 | Common | SOLE |
| 457669307 | INSM | INSMED ORD | $28.8M | 0.39% | 200,000 | Common | SOLE |
| 718172109 | PM | PHILIP MORRIS INTERNATIONAL ORD | $28.4M | 0.38% | 175,400 | Common | SOLE |
| 91324P102 | UNH | UNITEDHEALTH GRP ORD | $27.3M | 0.36% | 79,000 | Common | SOLE |
| 172967424 | C | CITIGROUP ORD | $26.9M | 0.36% | 265,000 | Common | SOLE |
| 79466L302 | CRM | SALESFORCE ORD | $26.4M | 0.35% | 111,200 | Common | SOLE |
| 907818108 | UNP | UNION PACIFIC ORD | $23.6M | 0.32% | 100,000 | Common | SOLE |
| 461202103 | INTU | INTUIT ORD | $22.9M | 0.31% | 33,600 | Common | SOLE |
| 369604301 | GE | GE AEROSPACE ORD | $22.2M | 0.30% | 73,800 | Common | SOLE |
| 90353T100 | UBER | UBER TECHNOLOGIES ORD | $21.6M | 0.29% | 220,000 | Common | SOLE |
| 81762P102 | NOW | SERVICENOW ORD | $21.2M | 0.28% | 23,000 | Common | SOLE |
| 349553107 | FTS | FORTIS ORD | $19.6M | 0.26% | 387,000 | Common | SOLE |
| 459200101 | IBM | INTERNATIONAL BUSINESS MACHINES ORD | $19.6M | 0.26% | 69,300 | Common | SOLE |
| 191216100 | KO | COCA-COLA ORD | $19.1M | 0.25% | 287,300 | Common | SOLE |
| 872540109 | TJX | TJX ORD | $18.8M | 0.25% | 130,000 | Common | SOLE |
| 038222105 | AMAT | APPLIED MATERIAL ORD | $17.7M | 0.24% | 86,500 | Common | SOLE |
| 83001C108 | FUN | SIX FLAGS ENTERTAINMENT ORD | $17.2M | 0.23% | 755,500 | Common | SOLE |
| 603170101 | MLYS | MINERALYS THERAPEUTICS ORD | $17.1M | 0.23% | 450,000 | Common | SOLE |
| 713448108 | PEP | PEPSICO ORD | $16.9M | 0.23% | 120,000 | Common | SOLE |
| 44332N106 | HTHT | H WORLD GROUP ADR | $16.8M | 0.22% | 428,800 | Common | SOLE |
| 75513E101 | RTX | RTX ORD | $16.7M | 0.22% | 100,000 | Common | SOLE |
| 742718109 | PG | PROCTER & GAMBLE ORD | $16.7M | 0.22% | 108,900 | Common | SOLE |
| 040413205 | ANET | ARISTA NETWORKS ORD | $16.4M | 0.22% | 112,600 | Common | SOLE |
| 882508104 | TXN | TEXAS INSTRUMENTS ORD | $16.4M | 0.22% | 89,000 | Common | SOLE |
| 166764100 | CVX | CHEVRON ORD | $16.2M | 0.22% | 104,559 | Common | SOLE |
| 58933Y105 | MRK | MERCK & CO ORD | $15.6M | 0.21% | 185,600 | Common | SOLE |
| 55826T102 | SPHR | SPHERE ENTERTAINMENT CL A ORD | $15.5M | 0.21% | 250,000 | Common | SOLE |
| G54950103 | LIN | LINDE ORD | $15.4M | 0.21% | 32,400 | Common | SOLE |
| 482480100 | KLAC | KLA ORD | $15.1M | 0.20% | 14,000 | Common | SOLE |
| 00206R102 | T | AT&T ORD | $15.0M | 0.20% | 531,300 | Common | SOLE |
| 032654105 | ADI | ANALOG DEVICES ORD | $14.7M | 0.20% | 60,000 | Common | SOLE |
| 03831W108 | APP | APPLOVIN CL A ORD | $14.2M | 0.19% | 19,700 | Common | SOLE |
| 48553T106 | BZ | KANZHUN ADR REP 2 ORD | $14.0M | 0.19% | 600,000 | Common | SOLE |
| 65339F101 | NEE | NEXTERA ENERGY ORD | $14.0M | 0.19% | 185,200 | Common | SOLE |
| 883556102 | TMO | THERMO FISHER SCIENTIFIC ORD | $13.5M | 0.18% | 27,900 | Common | SOLE |
| 008474108 | AEM | AGNICO EAGLE ORD | $13.5M | 0.18% | 80,000 | Common | SOLE |
| 16679L109 | CHWY | CHEWY CL A ORD | $12.7M | 0.17% | 315,000 | Common | SOLE |
| 68389X105 | ORCL | ORACLE ORD | $12.7M | 0.17% | 45,000 | Common | SOLE |
| 46120E602 | ISRG | INTUITIVE SURGICAL ORD | $12.3M | 0.16% | 27,579 | Common | SOLE |
| 194162103 | CL | COLGATE PALMOLIVE ORD | $12.2M | 0.16% | 152,000 | Common | SOLE |
| 754730109 | RJF | RAYMOND JAMES ORD | $12.1M | 0.16% | 70,000 | Common | SOLE |
| 052769106 | ADSK | AUTODESK ORD | $12.1M | 0.16% | 38,000 | Common | SOLE |
| 81141R100 | SE | SEA ADS REP CL A ORD | $12.1M | 0.16% | 67,500 | Common | SOLE |
| 695156109 | PKG | PACKAGING CORP OF AMERICA ORD | $12.0M | 0.16% | 55,000 | Common | SOLE |
| 74340W103 | PLD | PROLOGIS REIT | $11.5M | 0.15% | 100,000 | Common | SOLE |
| N6596X109 | NXPI | NXP SEMICONDUCTORS ORD | $11.4M | 0.15% | 50,000 | Common | SOLE |
| 001055102 | AFL | AFLAC ORD | $11.2M | 0.15% | 100,000 | Common | SOLE |
| 16411R208 | LNG | CHENIERE ENERGY ORD | $11.0M | 0.15% | 47,000 | Common | SOLE |
| 722304102 | PDD | PDD HOLDINGS ADS | $11.0M | 0.15% | 83,100 | Common | SOLE |
| 36828A101 | GEV | GE VERNOVA ORD | $10.9M | 0.15% | 17,700 | Common | SOLE |
| 88579Y101 | MMM | 3M ORD | $10.9M | 0.15% | 70,000 | Common | SOLE |
| 151290889 | CX | CEMEX ADR REP 10 PAR CRTFCT | $10.7M | 0.14% | 1,189,900 | Common | SOLE |
| 384802104 | GWW | WW GRAINGER ORD | $10.5M | 0.14% | 11,000 | Common | SOLE |
| 693475105 | PNC | PNC FINANCIAL SERVICES GROUP ORD | $10.0M | 0.13% | 50,000 | Common | SOLE |
| 464287432 | TLT | ISHARES 20 PLS YEAR TREASURY BND ETF | $9.8M | 0.13% | 110,000 | Common | SOLE |
| 550021109 | LULU | LULULEMON ATHLETICA ORD | $9.8M | 0.13% | 55,000 | Common | SOLE |
| 10316T104 | BOX | BOX CL A ORD | $9.7M | 0.13% | 300,000 | Common | SOLE |
| 30231G102 | XOM | EXXON MOBIL ORD | $9.6M | 0.13% | 85,000 | Common | SOLE |
| 20825C104 | COP | CONOCOPHILLIPS ORD | $9.5M | 0.13% | 100,000 | Common | SOLE |
| 053015103 | ADP | AUTOMATIC DATA PROCESSING ORD | $9.4M | 0.13% | 32,000 | Common | SOLE |
| 89832Q109 | TFC | TRUIST FINANCIAL ORD | $9.1M | 0.12% | 200,000 | Common | SOLE |
| 95040Q104 | WELL | WELLTOWER ORD | $8.9M | 0.12% | 50,000 | Common | SOLE |
| 025816109 | AXP | AMERICAN EXPRESS ORD | $8.5M | 0.11% | 25,500 | Common | SOLE |
| 747525103 | QCOM | QUALCOMM ORD | $8.3M | 0.11% | 50,000 | Common | SOLE |
| 25754A201 | DPZ | DOMINOS PIZZA ORD | $8.2M | 0.11% | 19,000 | Common | SOLE |
| 62944T105 | NVR | NVR ORD | $8.0M | 0.11% | 1,000 | Common | SOLE |
| 874080104 | TAL | TAL EDUCATION GRP 3 ADR REP CL A ORD | $7.8M | 0.10% | 700,000 | Common | SOLE |
| 29444U700 | EQIX | EQUINIX REIT ORD | $7.8M | 0.10% | 10,000 | Common | SOLE |
| G51502105 | JCI | JOHNSON CONTROLS INTERNATIONAL ORD | $7.7M | 0.10% | 70,000 | Common | SOLE |
| 35671D857 | FCX | FREEPORT MCMORAN ORD | $7.5M | 0.10% | 190,000 | Common | SOLE |
| 296315104 | ESE | ESCO TECHNOLOGIES ORD | $7.3M | 0.10% | 34,600 | Common | SOLE |
| 88557W101 | QFIN | QFIN HOLDINGS ADR | $7.2M | 0.10% | 250,000 | Common | SOLE |
| 09290D101 | BLK | BLACKROCK ORD | $7.0M | 0.09% | 6,000 | Common | SOLE |
| 615394202 | MOG/A | MOOG CL A ORD | $7.0M | 0.09% | 33,500 | Common | SOLE |
| 30214U102 | EXPO | EXPONENT ORD | $6.6M | 0.09% | 95,300 | Common | SOLE |
| 448811208 | HRNNF | HYDRO ONE ORD | $6.2M | 0.08% | 175,000 | Common | SOLE |
| 516544103 | LNTH | LANTHEUS HOLDINGS ORD | $6.1M | 0.08% | 119,600 | Common | SOLE |
| 45104G104 | IBN | ICICI BANK ADR REP 2 ORD | $5.5M | 0.07% | 180,300 | Common | SOLE |
| 878742204 | TECK | TECK RESOURCES CL B ORD | $4.4M | 0.06% | 100,000 | Common | SOLE |
| 002824100 | ABT | ABBOTT LABORATORIES ORD | $4.3M | 0.06% | 31,900 | Common | SOLE |
| 72201R882 | ZROZ | PIMCO 25YR ZERO CUPN US TRS INDX ETF | $4.3M | 0.06% | 62,700 | Common | SOLE |
| 89417E109 | TRV | TRAVELERS COMPANIES ORD | $4.2M | 0.06% | 15,000 | Common | SOLE |
| 78409V104 | SPGI | S&P GLOBAL ORD | $4.1M | 0.05% | 8,400 | Common | SOLE |
| 921937835 | BND | VANGUARD TOTAL BOND MARKET ETF | $4.0M | 0.05% | 54,400 | Common | SOLE |
| G8192H106 | SPNT | SIRIUSPOINT ORD | $3.6M | 0.05% | 199,200 | Common | SOLE |
| G42706104 | HG | HAMILTON INSURANCE GROUP CL B ORD | $3.0M | 0.04% | 120,100 | Common | SOLE |
| 10948W103 | AAMI | ACADIAN ASSET MANAGEMENT ORD | $2.9M | 0.04% | 60,000 | Common | SOLE |
| 46591M109 | JOYY | JOYY ADR | $2.7M | 0.04% | 45,500 | Common | SOLE |
| 12621E103 | CNO | CNO FINANCIAL GROUP ORD | $2.3M | 0.03% | 59,300 | Common | SOLE |
| 436893200 | HOMB | HOME BANCSHARES ORD | $2.3M | 0.03% | 81,800 | Common | SOLE |
| 92828Q109 | VRTS | VIRTUS INVESTMENT PARTNERS ORD | $2.2M | 0.03% | 11,400 | Common | SOLE |
| 149123101 | CAT | CATERPILLAR ORD | $1.9M | 0.03% | 4,000 | Common | SOLE |
| G4766E116 | INDV | INDIVIOR ORD | $1.4M | 0.02% | 60,000 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.