Q1 2026 · 13F-HR
Nearwater Capital Markets, Ltdholdings as filed
Filed 2026-05-15 · accession 0001915842-26-000007
$4.24B
Reported value
82
Positions
2026-03-31
Period end
The Brief · Nearwater Capital Markets, Ltd · Q1 2026
AI · grounded in 13F
Nearwater Capital Markets, Ltd closed its position in MU for a reduction of $196.9M. The fund also exited its holding in WMT for $185.1M and trimmed shares in MSFT by 77.7% and GOOGL by 77.7%. Offsetting these sells, the fund established new positions in ST STR SPDR POR DE WO EX US ETF for $275.7M, IXUS for $122.5M, and CAT for $107.7M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 78463X889 | SPDW | ST STR SPDR POR DE WO EX US ETF | $275.7M | 6.50% | 6,039,200 | Common | SOLE |
| 037833100 | AAPL | APPLE ORD | $256.4M | 6.05% | 1,010,100 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA ORD | $249.0M | 5.87% | 1,428,000 | Common | SOLE |
| 92189F791 | GDXJ | VANECK JUNIOR GOLD MINERS ETF | $196.6M | 4.64% | 1,638,000 | Common | SOLE |
| 921943858 | VEA | VANGUARD FTSE DEVELOPED MARKETS ETF | $142.7M | 3.37% | 2,227,000 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM ORD | $133.3M | 3.14% | 640,000 | Common | SOLE |
| 80004C200 | SNDK | SANDISK ORD | $130.9M | 3.09% | 206,000 | Common | SOLE |
| 46432F834 | IXUS | ISHARES CORE MSCI TOTL INTL STCK ETF | $122.5M | 2.89% | 1,413,600 | Common | SOLE |
| 880881107 | 430 | TERNS PHARMACEUTICALS ORD | $113.4M | 2.67% | 2,150,400 | Common | SOLE |
| 149123101 | CAT | CATERPILLAR ORD | $107.7M | 2.54% | 152,000 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM ORD | $93.2M | 2.20% | 301,000 | Common | SOLE |
| 478160104 | JNJ | JOHNSON & JOHNSON ORD | $90.4M | 2.13% | 370,000 | Common | SOLE |
| 464288257 | ACWI | ISHARES MSCI ACWI ETF | $88.8M | 2.09% | 641,700 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET CL A ORD | $84.0M | 1.98% | 292,000 | Common | SOLE |
| 92189F106 | GDX | VANECK GOLD MINERS ETF | $83.0M | 1.96% | 904,000 | Common | SOLE |
| 949746101 | WMT2 | WELLS FARGO ORD | $79.9M | 1.89% | 1,004,000 | Common | SOLE |
| 922042866 | VPL | VANGUARD FTSE PACIFIC ETF | $77.0M | 1.82% | 787,900 | Common | SOLE |
| 651639106 | NEM | NEWMONT ORD | $76.0M | 1.79% | 702,000 | Common | SOLE |
| 37954Y830 | COPX | GLOBAL X COPPER MINERS ETF | $71.3M | 1.68% | 934,400 | Common | SOLE |
| 500767306 | KWEB | KRANESHARES CSI CHINA INTERNET ETF | $67.7M | 1.60% | 2,381,200 | Common | SOLE |
| 880770102 | TER | TERADYNE ORD | $66.7M | 1.57% | 225,000 | Common | SOLE |
| 76155X100 | RVMD | REVOLUTION MEDICINES ORD | $65.9M | 1.56% | 678,000 | Common | SOLE |
| G66721104 | NCLH | NORWEGIAN CRUISE LINE HOLDINGS ORD | $63.7M | 1.50% | 3,405,000 | Common | SOLE |
| 742718109 | PG | PROCTER & GAMBLE ORD | $62.8M | 1.48% | 435,000 | Common | SOLE |
| 30303M102 | META | META PLATFORMS CL A ORD | $61.2M | 1.44% | 107,000 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT ORD | $61.1M | 1.44% | 165,000 | Common | SOLE |
| 084670702 | BRK/B | BERKSHIRE HATHAWAY CL B ORD | $59.4M | 1.40% | 124,000 | Common | SOLE |
| 57636Q104 | MA | MASTERCARD CL A ORD | $54.5M | 1.28% | 109,000 | Common | SOLE |
| 15102K100 | CELC | CELCUITY ORD | $54.0M | 1.27% | 473,100 | Common | SOLE |
| 46438F101 | IBIT | ISHARES BITCOIN ETF | $53.2M | 1.26% | 1,384,800 | Common | SOLE |
| 166764100 | CVX | CHEVRON ORD | $51.9M | 1.23% | 251,000 | Common | SOLE |
| 457669307 | INSM | INSMED ORD | $49.1M | 1.16% | 300,000 | Common | SOLE |
| 874054109 | TTWO | TAKE TWO INTERACTIVE SOFTWARE ORD | $44.6M | 1.05% | 226,000 | Common | SOLE |
| 464287150 | ITOT | ISHARES TOTAL US STOCK MARKET ETF | $44.2M | 1.04% | 310,000 | Common | SOLE |
| 55826T102 | SPHR | SPHERE ENTERTAINMENT CL A ORD | $44.0M | 1.04% | 375,000 | Common | SOLE |
| 002824100 | ABT | ABBOTT LABORATORIES ORD | $43.6M | 1.03% | 425,000 | Common | SOLE |
| 038222105 | AMAT | APPLIED MATERIAL ORD | $42.4M | 1.00% | 124,000 | Common | SOLE |
| 040413205 | ANET | ARISTA NETWORKS ORD | $39.2M | 0.92% | 319,000 | Common | SOLE |
| 532457108 | LLY | ELI LILLY ORD | $36.8M | 0.87% | 40,000 | Common | SOLE |
| 428103105 | HESM | HESS MIDSTREAM CL A ORD | $35.0M | 0.83% | 900,000 | Common | SOLE |
| 78433H675 | QQQI | NEOS NASDAQ 100 HIGH INCOME ETF | $34.8M | 0.82% | 700,000 | Common | SOLE |
| 580135101 | MCD | MCDONALD'S ORD | $33.9M | 0.80% | 109,000 | Common | SOLE |
| 464287234 | EEM | ISHARES MSCI EMERGING MARKETS ETF | $32.8M | 0.77% | 577,500 | Common | SOLE |
| 03027X100 | AMT | AMERICAN TOWER REIT | $32.8M | 0.77% | 190,000 | Common | SOLE |
| 00724F101 | ADBE | ADOBE ORD | $32.3M | 0.76% | 133,000 | Common | SOLE |
| 871607107 | SNPS | SYNOPSYS ORD | $31.7M | 0.75% | 80,000 | Common | SOLE |
| 947890109 | WBS | WEBSTER FINANCIAL ORD | $28.6M | 0.67% | 412,000 | Common | SOLE |
| 231021106 | CMI | CUMMINS ORD | $28.5M | 0.67% | 53,000 | Common | SOLE |
| 778296103 | ROST | ROSS STORES ORD | $28.2M | 0.66% | 130,000 | Common | SOLE |
| 375558103 | GILD | GILEAD SCIENCES ORD | $27.9M | 0.66% | 200,000 | Common | SOLE |
| 620076307 | MSI | MOTOROLA SOLUTIONS ORD | $26.0M | 0.61% | 60,000 | Common | SOLE |
| 512807306 | LRCX | LAM RESEARCH ORD | $25.2M | 0.59% | 118,000 | Common | SOLE |
| 91324P102 | UNH | UNITEDHEALTH GRP ORD | $24.4M | 0.57% | 90,000 | Common | SOLE |
| 16115Q308 | GTLS | CHART INDUSTRIES ORD | $22.7M | 0.54% | 110,000 | Common | SOLE |
| 75513E101 | RTX | RTX ORD | $20.8M | 0.49% | 108,000 | Common | SOLE |
| 832696405 | SJM | JM SMUCKER ORD | $19.3M | 0.45% | 200,000 | Common | SOLE |
| 640268306 | NKTR | NEKTAR THERAPEUTICS ORD | $18.8M | 0.44% | 261,500 | Common | SOLE |
| 68278B107 | K4F | ONESTREAM CL A ORD | $17.0M | 0.40% | 707,800 | Common | SOLE |
| 70975L107 | PEN | PENUMBRA ORD | $16.4M | 0.39% | 50,000 | Common | SOLE |
| 14040H105 | COF | CAPITAL ONE FINANCIAL ORD | $16.1M | 0.38% | 88,500 | Common | SOLE |
| 98138H101 | WDAY | WORKDAY CL A ORD | $14.9M | 0.35% | 115,000 | Common | SOLE |
| 03969K108 | ARQT | ARCUTIS BIOTHERAPEUTICS ORD | $14.3M | 0.34% | 607,300 | Common | SOLE |
| 151290889 | CX | CEMEX ADR REP 10 PAR CRTFCT | $13.6M | 0.32% | 1,189,900 | Common | SOLE |
| 808524755 | FNDF | SCHWAB FUNDAMNTL INTRNL EQT ETF | $10.5M | 0.25% | 214,000 | Common | SOLE |
| 81762P102 | NOW | SERVICENOW ORD | $9.9M | 0.23% | 95,000 | Common | SOLE |
| 69318G106 | PBF | PBF ENERGY CL A ORD | $9.5M | 0.22% | 200,000 | Common | SOLE |
| 46434G863 | ESGE | ISHARES ESG AWARE MSCI EM ETF | $9.1M | 0.21% | 200,000 | Common | SOLE |
| 722304102 | PDD | PDD HOLDINGS ADS | $8.5M | 0.20% | 83,100 | Common | SOLE |
| 874080104 | TAL | TAL EDUCATION GRP 3 ADR REP CL A ORD | $8.0M | 0.19% | 700,000 | Common | SOLE |
| 48553T106 | BZ | KANZHUN ADR REP 2 ORD | $7.2M | 0.17% | 538,300 | Common | SOLE |
| 87305R109 | TTMI | TTM TECHNOLOGIES ORD | $6.4M | 0.15% | 65,900 | Common | SOLE |
| 13100M509 | CALX | CALIX NETWORKS ORD | $5.8M | 0.14% | 118,200 | Common | SOLE |
| 45104G104 | IBN | ICICI BANK ADR REP 2 ORD | $4.7M | 0.11% | 180,300 | Common | SOLE |
| 75886F107 | REGN | REGENERON PHARMACEUTICALS ORD | $3.9M | 0.09% | 5,000 | Common | SOLE |
| 464285204 | IAU | ISHARES GOLD ETF | $3.8M | 0.09% | 43,400 | Common | SOLE |
| 00108J109 | ACMR | ACM RESEARCH CL A ORD | $3.7M | 0.09% | 94,200 | Common | SOLE |
| 83001C108 | FUN | SIX FLAGS ENTERTAINMENT ORD | $3.4M | 0.08% | 194,000 | Common | SOLE |
| 88557W101 | QFIN | QFIN HOLDINGS ADR | $3.2M | 0.08% | 250,000 | Common | SOLE |
| 95040Q104 | WELL | WELLTOWER ORD | $2.9M | 0.07% | 14,600 | Common | SOLE |
| 808524730 | FNDE | SCHWAB FUNDTL EMRG MKT EQT ETF | $2.6M | 0.06% | 66,900 | Common | SOLE |
| 44332N106 | HTHT | H WORLD GROUP ADR | $1.4M | 0.03% | 28,000 | Common | SOLE |
| 060505104 | BAC | BANK OF AMERICA ORD | $828,750 | 0.02% | 17,000 | 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.