Institutional
Nearwater Capital Markets, Ltd
CIK 0001915842
$4.24B
Reported AUM
82
Positions
Q1 2026
Period
2026-05-15
Filed
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.
Portfolio · Q1 2026
Top holdings
QoQ vs Q4 2025
| # | Stock | Issuer | Price | Day % | 1Y Gr. | 5Y Gr. | Value | % of book | Δ shares (QoQ) | Status |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | SPDW | ST STR SPDR POR DE WO EX US ETF | $49.33 | -3.71% | 26.64% | 54.23% | $275.7M | 6.50% | +6,039,200 | NEW |
| 2 | AAPL | APPLE ORD | $307.34 | -1.25% | 51.31% | 116.17% | $256.4M | 6.05% | +244,100 | +31.9% |
| 3 | NVDA | NVIDIA ORD | $205.10 | -6.20% | 44.92% | 955.49% | $249.0M | 5.87% | −434,000 | −23.3% |
| 4 | GDXJ | VANECK JUNIOR GOLD MINERS ETF | $100.59 | -10.11% | 49.14% | 137.60% | $196.6M | 4.64% | −2,000 | −0.1% |
| 5 | VEA | VANGUARD FTSE DEVELOPED MARKETS ETF | $69.17 | -3.72% | 26.80% | 55.20% | $142.7M | 3.37% | −2,487,850 | −52.8% |
| 6 | AMZN | AMAZON COM ORD | $246.03 | -3.06% | 15.20% | 47.87% | $133.3M | 3.14% | +365,000 | +132.7% |
| 7 | SNDK | SANDISK ORD | $1559.32 | -11.39% | 3882.94% | 3175.19% | $130.9M | 3.09% | −65,400 | −24.1% |
| 8 | IXUS | ISHARES CORE MSCI TOTL INTL STCK ETF | $93.31 | -3.86% | 25.80% | 48.29% | $122.5M | 2.89% | +1,413,600 | NEW |
| 9 | 430 | TERNS PHARMACEUTICALS ORD | — | — | — | — | $113.4M | 2.67% | +445,600 | +26.1% |
| 10 | CAT | CATERPILLAR ORD | $904.28 | -3.85% | 158.69% | 378.33% | $107.7M | 2.54% | +152,000 | NEW |
| 11 | AVGO | BROADCOM ORD | $385.73 | -7.92% | 57.48% | 771.51% | $93.2M | 2.20% | −503,000 | −62.6% |
| 12 | JNJ | JOHNSON & JOHNSON ORD | $232.77 | 2.02% | 53.90% | 55.59% | $90.4M | 2.13% | +370,000 | NEW |
| 13 | ACWI | ISHARES MSCI ACWI ETF | $154.39 | -2.98% | 24.80% | 63.87% | $88.8M | 2.09% | +641,700 | NEW |
| 14 | GOOGL | ALPHABET CL A ORD | $368.53 | -0.98% | 112.92% | 175.80% | $84.0M | 1.98% | −1,017,000 | −77.7% |
| 15 | GDX | VANECK GOLD MINERS ETF | $78.84 | -8.75% | 53.84% | 141.98% | $83.0M | 1.96% | +904,000 | NEW |
| 16 | WMT2 | WELLS FARGO ORD | — | — | — | — | $79.9M | 1.89% | +1,004,000 | NEW |
| 17 | VPL | VANGUARD FTSE PACIFIC ETF | $109.51 | -6.10% | 41.84% | 56.90% | $77.0M | 1.82% | +787,900 | NEW |
| 18 | NEM | NEWMONT ORD | $99.71 | -7.96% | 92.46% | 83.49% | $76.0M | 1.79% | +702,000 | NEW |
| 19 | COPX | GLOBAL X COPPER MINERS ETF | $80.64 | -10.62% | 92.19% | 138.58% | $71.3M | 1.68% | +934,400 | NEW |
| 20 | KWEB | KRANESHARES CSI CHINA INTERNET ETF | $26.38 | -2.76% | -18.26% | -37.38% | $67.7M | 1.60% | +1,581,200 | +197.7% |
| 21 | TER | TERADYNE ORD | $357.93 | -12.03% | 321.03% | 187.38% | $66.7M | 1.57% | +225,000 | NEW |
| 22 | RVMD | REVOLUTION MEDICINES ORD | $149.23 | -4.15% | 263.18% | 421.05% | $65.9M | 1.56% | +678,000 | NEW |
| 23 | NCLH | NORWEGIAN CRUISE LINE HOLDINGS ORD | $18.75 | -1.99% | -4.14% | -21.97% | $63.7M | 1.50% | +3,405,000 | NEW |
| 24 | PG | PROCTER & GAMBLE ORD | $146.54 | 4.09% | -8.09% | 17.02% | $62.8M | 1.48% | +435,000 | NEW |
| 25 | META | META PLATFORMS CL A ORD | $593.00 | -5.51% | -14.74% | 67.74% | $61.2M | 1.44% | −303,000 | −73.9% |
| 26 | MSFT | MICROSOFT ORD | $416.67 | -2.66% | -10.71% | 52.39% | $61.1M | 1.44% | −576,000 | −77.7% |
| 27 | BRK/B | BERKSHIRE HATHAWAY CL B ORD | — | — | — | — | $59.4M | 1.40% | +84,000 | +210.0% |
| 28 | MA | MASTERCARD CL A ORD | $491.08 | 1.93% | -16.29% | 31.00% | $54.5M | 1.28% | +109,000 | NEW |
| 29 | CELC | CELCUITY ORD | $88.28 | -4.53% | 576.48% | 348.12% | $54.0M | 1.27% | −47,100 | −9.1% |
| 30 | IBIT | ISHARES BITCOIN ETF | $34.14 | -5.22% | -42.39% | -3.61% | $53.2M | 1.26% | — | HELD |
| 31 | CVX | CHEVRON ORD | $187.31 | -0.55% | — | — | $51.9M | 1.23% | +251,000 | NEW |
| 32 | INSM | INSMED ORD | $94.22 | -10.20% | — | — | $49.1M | 1.16% | −200,000 | −40.0% |
| 33 | TTWO | TAKE TWO INTERACTIVE SOFTWARE ORD | $214.39 | -1.04% | — | — | $44.6M | 1.05% | +226,000 | NEW |
| 34 | ITOT | ISHARES TOTAL US STOCK MARKET ETF | $161.35 | -2.71% | — | — | $44.2M | 1.04% | +310,000 | NEW |
| 35 | SPHR | SPHERE ENTERTAINMENT CL A ORD | $139.50 | -1.88% | — | — | $44.0M | 1.04% | +125,000 | +50.0% |
| 36 | ABT | ABBOTT LABORATORIES ORD | $91.07 | 0.32% | — | — | $43.6M | 1.03% | +425,000 | NEW |
| 37 | AMAT | APPLIED MATERIAL ORD | $453.01 | -9.71% | — | — | $42.4M | 1.00% | +124,000 | NEW |
| 38 | ANET | ARISTA NETWORKS ORD | $154.27 | -7.07% | — | — | $39.2M | 0.92% | −100,000 | −23.9% |
| 39 | LLY | ELI LILLY ORD | $1131.42 | 0.55% | — | — | $36.8M | 0.87% | +40,000 | NEW |
| 40 | HESM | HESS MIDSTREAM CL A ORD | $38.82 | -0.38% | — | — | $35.0M | 0.83% | +900,000 | NEW |
| 41 | QQQI | NEOS NASDAQ 100 HIGH INCOME ETF | $55.11 | -3.97% | — | — | $34.8M | 0.82% | +700,000 | NEW |
| 42 | MCD | MCDONALD'S ORD | $279.84 | 2.61% | — | — | $33.9M | 0.80% | −121,000 | −52.6% |
| 43 | EEM | ISHARES MSCI EMERGING MARKETS ETF | $64.59 | -6.53% | — | — | $32.8M | 0.77% | +577,500 | NEW |
| 44 | AMT | AMERICAN TOWER REIT | $194.12 | 0.11% | — | — | $32.8M | 0.77% | +190,000 | NEW |
| 45 | ADBE | ADOBE ORD | $251.44 | -2.70% | — | — | $32.3M | 0.76% | +83,000 | +166.0% |
| 46 | SNPS | SYNOPSYS ORD | $464.85 | -5.99% | — | — | $31.7M | 0.75% | +80,000 | NEW |
| 47 | WBS | WEBSTER FINANCIAL ORD | $72.27 | -0.86% | — | — | $28.6M | 0.67% | +412,000 | NEW |
| 48 | CMI | CUMMINS ORD | $651.22 | -3.96% | — | — | $28.5M | 0.67% | +53,000 | NEW |
| 49 | ROST | ROSS STORES ORD | $230.37 | -1.15% | — | — | $28.2M | 0.66% | +130,000 | NEW |
| 50 | GILD | GILEAD SCIENCES ORD | $129.16 | -0.02% | — | — | $27.9M | 0.66% | −813,000 | −80.3% |
| 51 | MSI | MOTOROLA SOLUTIONS ORD | $410.34 | -0.09% | — | — | $26.0M | 0.61% | +60,000 | NEW |
| 52 | LRCX | LAM RESEARCH ORD | $303.28 | -9.85% | — | — | $25.2M | 0.59% | −702,000 | −85.6% |
| 53 | UNH | UNITEDHEALTH GRP ORD | $399.47 | 0.76% | — | — | $24.4M | 0.57% | +90,000 | NEW |
| 54 | GTLS | CHART INDUSTRIES ORD | $207.31 | -0.11% | — | — | $22.7M | 0.54% | +110,000 | NEW |
| 55 | RTX | RTX ORD | $180.99 | 0.88% | — | — | $20.8M | 0.49% | +108,000 | NEW |
| 56 | SJM | JM SMUCKER ORD | $103.54 | 2.39% | — | — | $19.3M | 0.45% | −480,000 | −70.6% |
| 57 | NKTR | NEKTAR THERAPEUTICS ORD | $57.32 | -3.36% | — | — | $18.8M | 0.44% | +200,000 | +325.2% |
| 58 | K4F | ONESTREAM CL A ORD | — | — | — | — | $17.0M | 0.40% | +707,800 | NEW |
| 59 | PEN | PENUMBRA ORD | $320.53 | -0.03% | — | — | $16.4M | 0.39% | +50,000 | NEW |
| 60 | COF | CAPITAL ONE FINANCIAL ORD | $180.67 | -1.38% | — | — | $16.1M | 0.38% | +88,500 | NEW |
| 61 | WDAY | WORKDAY CL A ORD | $144.28 | -2.45% | — | — | $14.9M | 0.35% | −35,000 | −23.3% |
| 62 | ARQT | ARCUTIS BIOTHERAPEUTICS ORD | $21.23 | -3.28% | — | — | $14.3M | 0.34% | −7,700 | −1.3% |
| 63 | CX | CEMEX ADR REP 10 PAR CRTFCT | $12.47 | -3.63% | — | — | $13.6M | 0.32% | — | HELD |
| 64 | FNDF | SCHWAB FUNDAMNTL INTRNL EQT ETF | $52.60 | -3.82% | — | — | $10.5M | 0.25% | +214,000 | NEW |
| 65 | NOW | SERVICENOW ORD | $112.45 | -5.79% | — | — | $9.9M | 0.23% | −235,000 | −71.2% |
| 66 | PBF | PBF ENERGY CL A ORD | $42.50 | -0.61% | — | — | $9.5M | 0.22% | +200,000 | NEW |
| 67 | ESGE | ISHARES ESG AWARE MSCI EM ETF | $51.82 | -6.48% | — | — | $9.1M | 0.21% | +200,000 | NEW |
| 68 | PDD | PDD HOLDINGS ADS | $85.07 | -0.94% | — | — | $8.5M | 0.20% | — | HELD |
| 69 | TAL | TAL EDUCATION GRP 3 ADR REP CL A ORD | $9.56 | -1.65% | — | — | $8.0M | 0.19% | — | HELD |
| 70 | BZ | KANZHUN ADR REP 2 ORD | $14.03 | -1.47% | — | — | $7.2M | 0.17% | −61,700 | −10.3% |
| 71 | TTMI | TTM TECHNOLOGIES ORD | $167.62 | -9.32% | — | — | $6.4M | 0.15% | −493,000 | −88.2% |
| 72 | CALX | CALIX NETWORKS ORD | $37.27 | -2.79% | — | — | $5.8M | 0.14% | +118,200 | NEW |
| 73 | IBN | ICICI BANK ADR REP 2 ORD | $25.95 | -0.54% | — | — | $4.7M | 0.11% | — | HELD |
| 74 | REGN | REGENERON PHARMACEUTICALS ORD | $635.45 | 1.07% | — | — | $3.9M | 0.09% | −25,000 | −83.3% |
| 75 | IAU | ISHARES GOLD ETF | $81.22 | -3.63% | — | — | $3.8M | 0.09% | −700 | −1.6% |
| 76 | ACMR | ACM RESEARCH CL A ORD | $76.29 | -15.43% | — | — | $3.7M | 0.09% | −256,600 | −73.1% |
| 77 | FUN | SIX FLAGS ENTERTAINMENT ORD | $20.72 | -2.31% | — | — | $3.4M | 0.08% | −1,561,500 | −88.9% |
| 78 | QFIN | QFIN HOLDINGS ADR | $14.53 | -4.97% | — | — | $3.2M | 0.08% | — | HELD |
| 79 | WELL | WELLTOWER ORD | $206.93 | 3.03% | — | — | $2.9M | 0.07% | +14,600 | NEW |
| 80 | FNDE | SCHWAB FUNDTL EMRG MKT EQT ETF | $40.04 | -3.54% | — | — | $2.6M | 0.06% | +66,900 | NEW |
| 81 | HTHT | H WORLD GROUP ADR | $45.00 | 0.54% | — | — | $1.4M | 0.03% | −400,800 | −93.5% |
| 82 | BAC | BANK OF AMERICA ORD | $53.83 | -0.63% | — | — | $829K | 0.02% | −1,533,000 | −98.9% |
| 83 | MU | MICRON TECHNOLOGY INC | $864.01 | -13.25% | — | — | — | — | −690,000 | EXITED |
| 84 | WMT | WALMART INC | $118.88 | 0.97% | — | — | — | — | −1,661,000 | EXITED |
| 85 | TSLA | TESLA INC | $391.00 | -6.56% | — | — | — | — | −285,500 | EXITED |
| 86 | MRVL | MARVELL TECHNOLOGY INC | $263.47 | -16.74% | — | — | — | — | −1,495,000 | EXITED |
| 87 | LUV | SOUTHWEST AIRLS CO | $41.54 | 0.56% | — | — | — | — | −2,800,000 | EXITED |
| 88 | FXI | ISHARES TR | $34.75 | -2.03% | — | — | — | — | −2,785,000 | EXITED |
| 89 | VT | VANGUARD INTL EQUITY INDEX FUND | $153.68 | -3.07% | — | — | — | — | −527,500 | EXITED |
| 90 | SCHW | SCHWAB CHARLES CORP | $88.84 | 0.95% | — | — | — | — | −722,000 | EXITED |
| 91 | COST | COSTCO WHSL CORP NEW | $971.87 | -0.05% | — | — | — | — | −81,000 | EXITED |
| 92 | TJX | TJX COS INC NEW | $160.71 | 1.31% | — | — | — | — | −440,000 | EXITED |
| 93 | FISV | FISERV INC | $54.43 | -3.20% | — | — | — | — | −995,000 | EXITED |
| 94 | VCIT | VANGUARD SCOTTSDALE FDS | $81.91 | -0.56% | — | — | — | — | −782,100 | EXITED |
| 95 | BKNG | BOOKING HOLDINGS INC | $165.84 | -0.99% | — | — | — | — | −12,000 | EXITED |
| 96 | BSV | VANGUARD BD INDEX FDS | $77.60 | -0.26% | — | — | — | — | −800,000 | EXITED |
| 97 | PEP | PEPSICO INC | $141.92 | -0.16% | — | — | — | — | −270,000 | EXITED |
| 98 | TMUS | T-MOBILE US INC | $178.10 | 0.61% | — | — | — | — | −189,000 | EXITED |
| 99 | UNP | UNION PAC CORP | $272.32 | 3.19% | — | — | — | — | −161,000 | EXITED |
| 100 | KVUE | KENVUE INC | $17.71 | 4.92% | — | — | — | — | −1,990,000 | EXITED |
| 101 | GE | GE AEROSPACE | — | — | — | — | — | — | −110,000 | EXITED |
| 102 | NFLX | NETFLIX INC | — | — | — | — | — | — | −350,000 | EXITED |
| 103 | LRN | STRIDE INC | — | — | — | — | — | — | −488,000 | EXITED |
| 104 | PKG | PACKAGING CORP AMER | — | — | — | — | — | — | −143,000 | EXITED |
| 105 | EFA | ISHARES TR | — | — | — | — | — | — | −300,000 | EXITED |
| 106 | DIS | DISNEY WALT CO | — | — | — | — | — | — | −250,000 | EXITED |
| 107 | HON | HONEYWELL INTL INC | — | — | — | — | — | — | −145,700 | EXITED |
| 108 | RNAGBP | AVIDITY BIOSCIENCES INC | — | — | — | — | — | — | −360,200 | EXITED |
| 109 | GLDM | WORLD GOLD TR | — | — | — | — | — | — | −276,600 | EXITED |
| 110 | VWO | VANGUARD INTL EQUITY INDEX FUND | — | — | — | — | — | — | −390,000 | EXITED |
| 111 | KVYO | KLAVIYO INC | — | — | — | — | — | — | −600,000 | EXITED |
| 112 | H | HYATT HOTELS CORP | — | — | — | — | — | — | −120,000 | EXITED |
| 113 | COMP | COMPASS INC | — | — | — | — | — | — | −1,724,700 | EXITED |
| 114 | KLAC | KLA CORP | — | — | — | — | — | — | −14,000 | EXITED |
| 115 | TPC | TUTOR PERINI CORP | — | — | — | — | — | — | −225,000 | EXITED |
| 116 | AVB | AVALONBAY CMNTYS INC | — | — | — | — | — | — | −80,000 | EXITED |
| 117 | PGR | PROGRESSIVE INC | — | — | — | — | — | — | −61,000 | EXITED |
| 118 | BOX | BOX INC | — | — | — | — | — | — | −456,000 | EXITED |
| 119 | GVA | GRANITE CONSTR INC | — | — | — | — | — | — | −118,000 | EXITED |
| 120 | PLD | PROLOGIS INC | — | — | — | — | — | — | −100,000 | EXITED |
| 121 | LQD | ISHARES TR | — | — | — | — | — | — | −109,600 | EXITED |
| 122 | CL | COLGATE PALMOLIVE CO | — | — | — | — | — | — | −152,000 | EXITED |
| 123 | ADSK | AUTODESK INC | — | — | — | — | — | — | −38,000 | EXITED |
| 124 | 1RG | REV GROUP INC | — | — | — | — | — | — | −181,000 | EXITED |
| 125 | XEL | XCEL ENERGY INC | — | — | — | — | — | — | −144,000 | EXITED |
| 126 | TXN | TEXAS INSTRS INC | — | — | — | — | — | — | −60,000 | EXITED |
| 127 | TLT | ISHARES TR | — | — | — | — | — | — | −110,000 | EXITED |
| 128 | LNG | CHENIERE ENERGY INC | — | — | — | — | — | — | −47,000 | EXITED |
| 129 | SJNK | SPDR SERIES TRUST | — | — | — | — | — | — | −345,100 | EXITED |
| 130 | BBT | BEACON FINANCIAL CORP | — | — | — | — | — | — | −329,500 | EXITED |
| 131 | INTU | INTUIT | — | — | — | — | — | — | −13,000 | EXITED |
| 132 | SE | SEA LTD | — | — | — | — | — | — | −67,500 | EXITED |
| 133 | ADP | AUTOMATIC DATA PROCESSING INC | — | — | — | — | — | — | −32,000 | EXITED |
| 134 | MOG/A | MOOG INC | — | — | — | — | — | — | −33,500 | EXITED |
| 135 | DPZ | DOMINOS PIZZA INC | — | — | — | — | — | — | −19,000 | EXITED |
| 136 | DK | DELEK US HOLDINGS INC NEW | — | — | — | — | — | — | −255,000 | EXITED |
| 137 | EXPO | EXPONENT INC | — | — | — | — | — | — | −95,300 | EXITED |
| 138 | ABCB | AMERIS BANCORP | — | — | — | — | — | — | −75,000 | EXITED |
| 139 | ZROZ | PIMCO ETF TR | — | — | — | — | — | — | −55,400 | EXITED |
| 140 | HG | HAMILTON INSURANCE GROUP LTD | — | — | — | — | — | — | −120,100 | EXITED |
| 141 | AAMI | ACADIAN ASSET MANAGEMENT INC | — | — | — | — | — | — | −60,000 | EXITED |
| 142 | CNO | CNO FINL GROUP INC | — | — | — | — | — | — | −53,800 | EXITED |
| 143 | INDV | INDIVIOR PLC | — | — | — | — | — | — | −60,000 | EXITED |
| 144 | VRTS | VIRTUS INVT PARTNERS INC | — | — | — | — | — | — | −11,400 | EXITED |
| 145 | SOLS | SOLSTICE ADVANCED MATLS INC | — | — | — | — | — | — | −36,425 | EXITED |
| 146 | F | FORD MTR CO | — | — | — | — | — | — | −1 | EXITED |
Source: SEC EDGAR · accession 0001915842-26-000007. 13F discloses long positions only — shorts, foreign equities, and options are excluded.