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
| # | 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 | $48.93 | -0.77% | 26.93% | 52.99% | $275.7M | 6.50% | — | HELD |
| 2 | AAPL | APPLE ORD | $338.19 | -0.56% | 67.77% | 128.17% | $256.4M | 6.05% | — | HELD |
| 3 | NVDA | NVIDIA ORD | $190.01 | -3.55% | 13.56% | 782.99% | $249.0M | 5.87% | — | HELD |
| 4 | GDXJ | VANECK JUNIOR GOLD MINERS ETF | $94.98 | -1.86% | 49.42% | 138.51% | $196.6M | 4.64% | — | HELD |
| 5 | VEA | VANGUARD FTSE DEVELOPED MARKETS ETF | $68.95 | -0.93% | 27.83% | 54.95% | $142.7M | 3.37% | — | HELD |
| 6 | AMZN | AMAZON COM ORD | $226.65 | -1.82% | 5.54% | 30.60% | $133.3M | 3.14% | — | HELD |
| 7 | SNDK | SANDISK ORD | $1015.89 | -7.32% | 2358.00% | 2033.77% | $130.9M | 3.09% | — | HELD |
| 8 | IXUS | ISHARES CORE MSCI TOTL INTL STCK ETF | $92.00 | -1.11% | 25.74% | 47.51% | $122.5M | 2.89% | — | HELD |
| 9 | 430 | TERNS PHARMACEUTICALS ORD | — | — | — | — | $113.4M | 2.67% | — | HELD |
| 10 | CAT | CATERPILLAR ORD | $782.71 | -6.91% | 84.23% | 304.51% | $107.7M | 2.54% | — | HELD |
| 11 | AVGO | BROADCOM ORD | $370.32 | -2.78% | 31.81% | 734.42% | $93.2M | 2.20% | — | HELD |
| 12 | JNJ | JOHNSON & JOHNSON ORD | $265.53 | -0.45% | 64.28% | 77.25% | $90.4M | 2.13% | — | HELD |
| 13 | ACWI | ISHARES MSCI ACWI ETF | $152.47 | -1.34% | 21.13% | 60.07% | $88.8M | 2.09% | — | HELD |
| 14 | GOOGL | ALPHABET CL A ORD | $336.71 | 0.90% | 76.51% | 132.04% | $84.0M | 1.98% | — | HELD |
| 15 | GDX | VANECK GOLD MINERS ETF | $73.57 | -0.86% | 42.51% | 143.98% | $83.0M | 1.96% | — | HELD |
| 16 | WMT2 | WELLS FARGO ORD | — | — | — | — | $79.9M | 1.89% | — | HELD |
| 17 | VPL | VANGUARD FTSE PACIFIC ETF | $104.91 | -1.52% | 33.97% | 50.87% | $77.0M | 1.82% | — | HELD |
| 18 | NEM | NEWMONT ORD | $91.34 | -0.20% | 47.49% | 82.09% | $76.0M | 1.79% | — | HELD |
| 19 | COPX | GLOBAL X COPPER MINERS ETF | $76.14 | -0.50% | 82.90% | 131.72% | $71.3M | 1.68% | — | HELD |
| 20 | KWEB | KRANESHARES CSI CHINA INTERNET ETF | $27.80 | 1.79% | -14.51% | -34.72% | $67.7M | 1.60% | — | HELD |
| 21 | TER | TERADYNE ORD | $319.41 | -0.39% | 207.44% | 167.98% | $66.7M | 1.57% | — | HELD |
| 22 | RVMD | REVOLUTION MEDICINES ORD | $180.92 | -1.60% | 393.91% | 521.93% | $65.9M | 1.56% | — | HELD |
| 23 | NCLH | NORWEGIAN CRUISE LINE HOLDINGS ORD | $20.75 | -2.21% | -15.31% | -19.70% | $63.7M | 1.50% | — | HELD |
| 24 | PG | PROCTER & GAMBLE ORD | $146.10 | -1.87% | -0.17% | 16.67% | $62.8M | 1.48% | — | HELD |
| 25 | META | META PLATFORMS CL A ORD | $585.61 | -1.31% | -20.62% | 57.79% | $61.2M | 1.44% | — | HELD |
| 26 | MSFT | MICROSOFT ORD | $390.54 | -0.71% | -24.89% | 34.54% | $61.1M | 1.44% | — | HELD |
| 27 | BRK/B | BERKSHIRE HATHAWAY CL B ORD | — | — | — | — | $59.4M | 1.40% | — | HELD |
| 28 | MA | MASTERCARD CL A ORD | $563.32 | 0.10% | 1.24% | 67.59% | $54.5M | 1.28% | — | HELD |
| 29 | CELC | CELCUITY ORD | $83.26 | 0.97% | 108.62% | 278.45% | $54.0M | 1.27% | — | HELD |
| 30 | IBIT | ISHARES BITCOIN ETF | $36.00 | -0.39% | -43.72% | 2.03% | $53.2M | 1.26% | — | HELD |
| 31 | CVX | CHEVRON ORD | $191.86 | 2.28% | — | — | $51.9M | 1.23% | — | HELD |
| 32 | INSM | INSMED ORD | $103.12 | -0.97% | — | — | $49.1M | 1.16% | — | HELD |
| 33 | TTWO | TAKE TWO INTERACTIVE SOFTWARE ORD | $246.43 | -0.48% | — | — | $44.6M | 1.05% | — | HELD |
| 34 | ITOT | ISHARES TOTAL US STOCK MARKET ETF | $160.03 | -1.53% | — | — | $44.2M | 1.04% | — | HELD |
| 35 | SPHR | SPHERE ENTERTAINMENT CL A ORD | $140.17 | -0.80% | — | — | $44.0M | 1.04% | — | HELD |
| 36 | ABT | ABBOTT LABORATORIES ORD | $108.00 | 0.68% | — | — | $43.6M | 1.03% | — | HELD |
| 37 | AMAT | APPLIED MATERIAL ORD | $436.45 | -8.40% | — | — | $42.4M | 1.00% | — | HELD |
| 38 | ANET | ARISTA NETWORKS ORD | $157.97 | -6.92% | — | — | $39.2M | 0.92% | — | HELD |
| 39 | LLY | ELI LILLY ORD | $1210.02 | -0.87% | — | — | $36.8M | 0.87% | — | HELD |
| 40 | HESM | HESS MIDSTREAM CL A ORD | $40.45 | 1.18% | — | — | $35.0M | 0.83% | — | HELD |
| 41 | QQQI | NEOS NASDAQ 100 HIGH INCOME ETF | $51.00 | -2.05% | — | — | $34.8M | 0.82% | — | HELD |
| 42 | MCD | MCDONALD'S ORD | $271.52 | -0.55% | — | — | $33.9M | 0.80% | — | HELD |
| 43 | EEM | ISHARES MSCI EMERGING MARKETS ETF | $61.07 | -2.07% | — | — | $32.8M | 0.77% | — | HELD |
| 44 | AMT | AMERICAN TOWER REIT | $179.26 | 4.52% | — | — | $32.8M | 0.77% | — | HELD |
| 45 | ADBE | ADOBE ORD | $263.43 | 5.72% | — | — | $32.3M | 0.76% | — | HELD |
| 46 | SNPS | SYNOPSYS ORD | $373.69 | -2.64% | — | — | $31.7M | 0.75% | — | HELD |
| 47 | WBS | WEBSTER FINANCIAL ORD | $75.85 | -1.61% | — | — | $28.6M | 0.67% | — | HELD |
| 48 | CMI | CUMMINS ORD | $606.00 | -5.55% | — | — | $28.5M | 0.67% | — | HELD |
| 49 | ROST | ROSS STORES ORD | $251.96 | 0.37% | — | — | $28.2M | 0.66% | — | HELD |
| 50 | GILD | GILEAD SCIENCES ORD | $132.73 | -1.18% | — | — | $27.9M | 0.66% | — | HELD |
| 51 | MSI | MOTOROLA SOLUTIONS ORD | $434.20 | -1.39% | — | — | $26.0M | 0.61% | — | HELD |
| 52 | LRCX | LAM RESEARCH ORD | $252.35 | -6.40% | — | — | $25.2M | 0.59% | — | HELD |
| 53 | UNH | UNITEDHEALTH GRP ORD | $420.57 | -1.92% | — | — | $24.4M | 0.57% | — | HELD |
| 54 | GTLS | CHART INDUSTRIES ORD | — | — | — | — | $22.7M | 0.54% | — | HELD |
| 55 | RTX | RTX ORD | $215.25 | -1.52% | — | — | $20.8M | 0.49% | — | HELD |
| 56 | SJM | JM SMUCKER ORD | $126.35 | 2.69% | — | — | $19.3M | 0.45% | — | HELD |
| 57 | NKTR | NEKTAR THERAPEUTICS ORD | $70.68 | -0.13% | — | — | $18.8M | 0.44% | — | HELD |
| 58 | K4F | ONESTREAM CL A ORD | — | — | — | — | $17.0M | 0.40% | — | HELD |
| 59 | PEN | PENUMBRA ORD | $320.13 | 0.04% | — | — | $16.4M | 0.39% | — | HELD |
| 60 | COF | CAPITAL ONE FINANCIAL ORD | $208.71 | -1.74% | — | — | $16.1M | 0.38% | — | HELD |
| 61 | WDAY | WORKDAY CL A ORD | $168.01 | 5.21% | — | — | $14.9M | 0.35% | — | HELD |
| 62 | ARQT | ARCUTIS BIOTHERAPEUTICS ORD | $27.86 | -1.97% | — | — | $14.3M | 0.34% | — | HELD |
| 63 | CX | CEMEX ADR REP 10 PAR CRTFCT | $11.70 | -2.50% | — | — | $13.6M | 0.32% | — | HELD |
| 64 | FNDF | SCHWAB FUNDAMNTL INTRNL EQT ETF | $52.83 | -0.19% | — | — | $10.5M | 0.25% | — | HELD |
| 65 | NOW | SERVICENOW ORD | $115.76 | 4.65% | — | — | $9.9M | 0.23% | — | HELD |
| 66 | PBF | PBF ENERGY CL A ORD | $63.35 | 3.85% | — | — | $9.5M | 0.22% | — | HELD |
| 67 | ESGE | ISHARES ESG AWARE MSCI EM ETF | $49.05 | -2.19% | — | — | $9.1M | 0.21% | — | HELD |
| 68 | PDD | PDD HOLDINGS ADS | $88.32 | 3.05% | — | — | $8.5M | 0.20% | — | HELD |
| 69 | TAL | TAL EDUCATION GRP 3 ADR REP CL A ORD | $10.89 | 4.31% | — | — | $8.0M | 0.19% | — | HELD |
| 70 | BZ | KANZHUN ADR REP 2 ORD | $16.10 | 1.77% | — | — | $7.2M | 0.17% | — | HELD |
| 71 | TTMI | TTM TECHNOLOGIES ORD | $101.77 | -6.37% | — | — | $6.4M | 0.15% | — | HELD |
| 72 | CALX | CALIX NETWORKS ORD | $35.55 | -4.18% | — | — | $5.8M | 0.14% | — | HELD |
| 73 | IBN | ICICI BANK ADR REP 2 ORD | $29.76 | -1.65% | — | — | $4.7M | 0.11% | — | HELD |
| 74 | REGN | REGENERON PHARMACEUTICALS ORD | $695.42 | 0.03% | — | — | $3.9M | 0.09% | — | HELD |
| 75 | IAU | ISHARES GOLD ETF | $76.04 | 0.45% | — | — | $3.8M | 0.09% | — | HELD |
| 76 | ACMR | ACM RESEARCH CL A ORD | $65.30 | -9.33% | — | — | $3.7M | 0.09% | — | HELD |
| 77 | FUN | SIX FLAGS ENTERTAINMENT ORD | $18.35 | -2.03% | — | — | $3.4M | 0.08% | — | HELD |
| 78 | QFIN | QFIN HOLDINGS ADR | $13.76 | 0.95% | — | — | $3.2M | 0.08% | — | HELD |
| 79 | WELL | WELLTOWER ORD | $241.08 | -1.02% | — | — | $2.9M | 0.07% | — | HELD |
| 80 | FNDE | SCHWAB FUNDTL EMRG MKT EQT ETF | $40.17 | -0.54% | — | — | $2.6M | 0.06% | — | HELD |
| 81 | HTHT | H WORLD GROUP ADR | $43.25 | 0.93% | — | — | $1.4M | 0.03% | — | HELD |
| 82 | BAC | BANK OF AMERICA ORD | $61.07 | -2.48% | — | — | $829K | 0.02% | — | HELD |
Source: SEC EDGAR · accession 0001915842-26-000007. 13F discloses long positions only — shorts, foreign equities, and options are excluded.