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Nearwater Capital Markets, Ltd — 13F Holdings & Portfolio

CIK 1915842 · latest 13F-HR filed 2026-05-15

Backtest portfolio

Nearwater Capital Markets, Ltd manages $4.24B in 13F-reported U.S. long-equity assets across 82 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are SPDW (6.50%), AAPL (6.05%), NVDA (5.87%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 42 new positions, exited 64, added to 11, and trimmed 26.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

Loading holdings…
AUM

$4.24B

Long-equity book

Holdings

82

Distinct positions

Period

2026-03-31

Filed 2026-05-15

Q/Q Activity

+42 / −64 / ↑11 / ↓26

vs 2025-12-31

Firm Profile & Key People
Name Title / Status Ownership Type

Top Adds (vs prior quarter)

  • AMAZON COM ORD$69.8M +110.0%
  • SANDISK ORD$66.5M +103.2%
  • APPLE ORD$48.1M +23.1%
  • TERNS PHARMACEUTICALS ORD$44.5M +64.6%
  • KRANESHARES CSI CHINA INTERNET ETF$40.5M +148.5%
Show all 11 →

Top Trims

  • ALPHABET CL A ORD-$325.7M -79.5%
  • MICROSOFT ORD-$297.3M -83.0%
  • META PLATFORMS CL A ORD-$209.4M -77.4%
  • BROADCOM ORD-$185.1M -66.5%
  • VANGUARD FTSE DEVELOPED MARKETS ETF-$151.8M -51.5%
Show all 26 →

New Positions

  • ST STR SPDR POR DE WO EX US ETF$275.7M
  • ISHARES CORE MSCI TOTL INTL STCK ETF$122.5M
  • CATERPILLAR ORD$107.7M
  • JOHNSON & JOHNSON ORD$90.4M
  • ISHARES MSCI ACWI ETF$88.8M
Show all 42 →

Exited Positions

  • MICRON TECHNOLOGY INC$196.9M
  • WALMART INC$185.1M
  • TESLA INC$128.4M
  • MARVELL TECHNOLOGY INC$127.0M
  • SOUTHWEST AIRLS CO$115.7M
Show all 64 →
All Holdings

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 ST STR SPDR POR DE WO EX US ETF SPDW 78463X889 $275.7M 6.50% 6,039,200 SH
2 APPLE ORD AAPL 037833100 $256.4M 6.05% 1,010,100 SH
3 NVIDIA ORD NVDA 67066G104 $249.0M 5.87% 1,428,000 SH
4 VANECK JUNIOR GOLD MINERS ETF GDXJ 92189F791 $196.6M 4.64% 1,638,000 SH
5 VANGUARD FTSE DEVELOPED MARKETS ETF VEA 921943858 $142.7M 3.37% 2,227,000 SH
6 AMAZON COM ORD AMZN 023135106 $133.3M 3.14% 640,000 SH
7 SANDISK ORD SNDK 80004C200 $130.9M 3.09% 206,000 SH
8 ISHARES CORE MSCI TOTL INTL STCK ETF IXUS 46432F834 $122.5M 2.89% 1,413,600 SH
9 TERNS PHARMACEUTICALS ORD TERN 880881107 $113.4M 2.67% 2,150,400 SH
10 CATERPILLAR ORD CAT 149123101 $107.7M 2.54% 152,000 SH
11 BROADCOM ORD AVGO 11135F101 $93.2M 2.20% 301,000 SH
12 JOHNSON & JOHNSON ORD JNJ 478160104 $90.4M 2.13% 370,000 SH
13 ISHARES MSCI ACWI ETF ACWI 464288257 $88.8M 2.09% 641,700 SH
14 ALPHABET CL A ORD GOOGL 02079K305 $84.0M 1.98% 292,000 SH
15 VANECK GOLD MINERS ETF GDX 92189F106 $83.0M 1.96% 904,000 SH
16 WELLS FARGO ORD WFC 949746101 $79.9M 1.89% 1,004,000 SH
17 VANGUARD FTSE PACIFIC ETF VPL 922042866 $77.0M 1.82% 787,900 SH
18 NEWMONT ORD NEM 651639106 $76.0M 1.79% 702,000 SH
19 GLOBAL X COPPER MINERS ETF COPX 37954Y830 $71.3M 1.68% 934,400 SH
20 KRANESHARES CSI CHINA INTERNET ETF KWEB 500767306 $67.7M 1.60% 2,381,200 SH
21 TERADYNE ORD TER 880770102 $66.7M 1.57% 225,000 SH
22 REVOLUTION MEDICINES ORD RVMD 76155X100 $65.9M 1.56% 678,000 SH
23 NORWEGIAN CRUISE LINE HOLDINGS ORD NCLH G66721104 $63.7M 1.50% 3,405,000 SH
24 PROCTER & GAMBLE ORD PG 742718109 $62.8M 1.48% 435,000 SH
25 META PLATFORMS CL A ORD META 30303M102 $61.2M 1.44% 107,000 SH
26 MICROSOFT ORD MSFT 594918104 $61.1M 1.44% 165,000 SH
27 BERKSHIRE HATHAWAY CL B ORD BRK.B 084670702 $59.4M 1.40% 124,000 SH
28 MASTERCARD CL A ORD MA 57636Q104 $54.5M 1.28% 109,000 SH
29 CELCUITY ORD CELC 15102K100 $54.0M 1.27% 473,100 SH
30 ISHARES BITCOIN ETF IBIT 46438F101 $53.2M 1.26% 1,384,800 SH
31 CHEVRON ORD CVX 166764100 $51.9M 1.23% 251,000 SH
32 INSMED ORD INSM 457669307 $49.1M 1.16% 300,000 SH
33 TAKE TWO INTERACTIVE SOFTWARE ORD TTWO 874054109 $44.6M 1.05% 226,000 SH
34 ISHARES TOTAL US STOCK MARKET ETF ITOT 464287150 $44.2M 1.04% 310,000 SH
35 SPHERE ENTERTAINMENT CL A ORD SPHR 55826T102 $44.0M 1.04% 375,000 SH
36 ABBOTT LABORATORIES ORD ABT 002824100 $43.6M 1.03% 425,000 SH
37 APPLIED MATERIAL ORD AMAT 038222105 $42.4M 1.00% 124,000 SH
38 ARISTA NETWORKS ORD ANET 040413205 $39.2M 0.92% 319,000 SH
39 ELI LILLY ORD LLY 532457108 $36.8M 0.87% 40,000 SH
40 HESS MIDSTREAM CL A ORD HESM 428103105 $35.0M 0.83% 900,000 SH
41 NEOS NASDAQ 100 HIGH INCOME ETF QQQI 78433H675 $34.8M 0.82% 700,000 SH
42 MCDONALD'S ORD MCD 580135101 $33.9M 0.80% 109,000 SH
43 ISHARES MSCI EMERGING MARKETS ETF EEM 464287234 $32.8M 0.77% 577,500 SH
44 AMERICAN TOWER REIT AMT 03027X100 $32.8M 0.77% 190,000 SH
45 ADOBE ORD ADBE 00724F101 $32.3M 0.76% 133,000 SH
46 SYNOPSYS ORD SNPS 871607107 $31.7M 0.75% 80,000 SH
47 WEBSTER FINANCIAL ORD WBS 947890109 $28.6M 0.67% 412,000 SH
48 CUMMINS ORD CMI 231021106 $28.5M 0.67% 53,000 SH
49 ROSS STORES ORD ROST 778296103 $28.2M 0.66% 130,000 SH
50 GILEAD SCIENCES ORD GILD 375558103 $27.9M 0.66% 200,000 SH
Filing History
Period Filed AUM Holdings Accession
2026-03-31 2026-05-15 $4.24B 82 0001915842-26-000007
2025-12-31 2026-02-17 $5.85B 104 0001915842-26-000003
2025-09-30 2025-11-13 $7.48B 144 0001915842-25-000021