Nearwater Capital Markets, Ltd
Sector Allocation
- Technology36.2%$2.1B
- Other16.3%$947.1M
- Healthcare13.1%$758.3M
- Industrials11.3%$652.7M
- Consumer Discretionary11.0%$640.1M
- Financials8.7%$503.6M
- Energy1.5%$87.1M
- Communication Services0.9%$51.6M
- Materials0.4%$22.0M
- Consumer Staples0.2%$13.7M
AUM History
13fpro.ai/research/fund/nearwater-capital-markets-ltd-1915842
Conviction and streaks
Stable · top 10 = 40.1%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
RVMD
$392.7MAMZN
$316.8M- VANECK$268.0M
SNDK
$250.1MAMD
$225.4MNCLH
$199.8MGOOGL
$188.7MNVDA
$170.9MUBER
$157.4MMSFT
$156.7MTSLA
$139.6MHUT
$134.1M- ISHARES$127.7M
AAPL
$126.7MSNPS
$124.9M- ISHARES$122.5M
- ISHARES$103.6M
TXN
$87.9MDXCM
$84.2MU
$82.3M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/nearwater-capital-markets-ltd-1915842
Nearwater Capital Markets, Ltd 13F holdings — Q2 2026
$5.8B portfolio (+36.8% QoQ) · 100 holdings · Q2 2026 13F · top 10 are 40% of the stock portfolio
$392.7M
6.8% of stocks
+209%This quarter-9.7%Since filed2 qtrsHeld$316.8M
5.5% of stocks
+108%This quarter-5.2%Since filed7+ qtrsHeld- 3
VANECK GOLD MINERS ETF - GOLD MINERS ETF
$268.0M
4.6% of stocks
+293%This quarter—Since filed—HeldAIQuality—Est. buy— $250.1M
4.3% of stocks
-47%This quarter-23.5%Since filed3 qtrsHeld$225.4M
3.9% of stocks
NewThis quarter+3.3%Since filedNew this quarterHeld$199.8M
3.5% of stocks
+178%This quarter-19.8%Since filed2 qtrsHeld$188.7M
3.3% of stocks
+81%This quarter-8.5%Since filed7+ qtrsHeld$170.9M
3.0% of stocks
-40%This quarter-4.1%Since filed7+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 4 qtrs in a row$157.4M
2.7% of stocks
NewThis quarter-12.9%Since filedNew this quarterHeld$156.7M
2.7% of stocks
+155%This quarter+7.5%Since filed7+ qtrsHeld
All holdings — Nearwater Capital Markets, Ltd (Q2 2026)
100 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | Tesla, Inc. | Consumer Discretionary | $139.6M | 2.4% | 332K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | Hut 8 Corp. | Financials | $134.1M | 2.3% | 1.16M | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | — | ISHARES MSCI BRAZIL ETF - MSCI BRAZIL ETFetf/fund | — | $127.7M | 2.2% | 3.70M | New | — | — | 13F |
| 14 | Apple Inc. | Technology | $126.7M | 2.2% | 438K | -57% | 7+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | SYNOPSYS INC | Technology | $124.9M | 2.1% | 280K | +250% | 2 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | — | ISHARES CHINA LARGE CAP ETF - CHINA LG-CAP ETFetf/fund | — | $122.5M | 2.1% | 3.88M | New | — | — | 13F |
| 17 | — | ISHARES CORE MSCI EMERGING ETF - CORE MSCI EMKTetf/fund | — | $103.6M | 1.8% | 1.25M | New | — | — | 13F |
| 18 | TEXAS INSTRUMENTS INC | Technology | $87.9M | 1.5% | 295K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | DEXCOM INC | Healthcare | $84.2M | 1.4% | 1.25M | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | Unity Software Inc. | Technology | $82.3M | 1.4% | 2.88M | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | HONEYWELL INTERNATIONAL INC | Industrials | $78.0M | 1.4% | 349K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | Dynatrace, Inc. | Technology | $77.7M | 1.3% | 1.77M | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | Honeywell Aerospace Inc. | Industrials | $77.0M | 1.3% | 349K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | CAPITAL ONE FINANCIAL CORP | Financials | $72.7M | 1.3% | 362K | +309% | 2 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | MORGAN STANLEY | Financials | $71.1M | 1.2% | 340K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | — | ISHARES MSCI ACWI ETF - MSCI ACWI ETF | — | $67.8M | 1.2% | 432K | -33% | |||
| 27 | $XOM.R34088 | EXXON MOBIL CORP | Energy | $61.9M | 1.1% | 453K | New | |||
| 28 | $WBS | WEBSTER FINANCIAL CORP | Financials | $59.5M | 1.0% | 778K | +89% | |||
| 29 | $RTX | RTX Corp | Industrials | $57.9M | 1.0% | 305K | +182% | |||
| 30 | $ROST | ROSS STORES, INC. | Consumer Discretionary | $54.5M | 0.9% | 256K | +97% | |||
| 31 | $ANET | Arista Networks, Inc. | Technology | $54.2M | 0.9% | 319K | — | |||
| 32 | $ROIV | Roivant Sciences Ltd. | Healthcare | $53.1M | 0.9% | 1.50M | New | |||
| 33 | — | ISHARES MSCI EAFE ETF - MSCI EAFE ETF | — | $48.3M | 0.8% | 465K | New | |||
| 34 | — | ISHARES MSCI EMERGING MARKETS ETF - MSCI EMG MKT ETF | — | $47.9M | 0.8% | 700K | +21% | |||
| 35 | $UAL | United Airlines Holdings, Inc. | Industrials | $47.7M | 0.8% | 351K | New | |||
| 36 | $NSC | NORFOLK SOUTHERN CORP | Industrials | $46.9M | 0.8% | 149K | New | |||
| 37 | $PH | Parker-Hannifin Corp | Industrials | $46.0M | 0.8% | 47K | New | |||
| 38 | $CIEN | CIENA CORP | Technology | $45.6M | 0.8% | 93K | New | |||
| 39 | $HLT | Hilton Worldwide Holdings Inc. | Consumer Discretionary | $45.3M | 0.8% | 137K | New | |||
| 40 | $ALGN | ALIGN TECHNOLOGY INC | Healthcare | $45.2M | 0.8% | 268K | New | |||
| 41 | — | VANECK JUNIOR GOLD MINERS ETF - JUNIOR GOLD MINE | — | $44.2M | 0.8% | 450K | -73% | |||
| 42 | $BRK.B | BERKSHIRE HATHAWAY INC | Financials | $44.0M | 0.8% | 88K | -29% | |||
| 43 | $UNH | UNITEDHEALTH GROUP INC | Healthcare | $41.6M | 0.7% | 100K | +11% | |||
| 44 | $SPHR | Sphere Entertainment Co. | Communication Services | $39.7M | 0.7% | 229K | -39% | |||
| 45 | — | GLOBAL X COPPER MINERS ETF - GLOBAL X COPPER | — | $38.5M | 0.7% | 500K | -46% | |||
| 46 | $GTLS | CHART INDUSTRIES INC | Industrials | $38.4M | 0.7% | 184K | +67% | |||
| 47 | $TMO | THERMO FISHER SCIENTIFIC INC. | Healthcare | $37.1M | 0.6% | 74K | New | |||
| 48 | — | ROUNDHILL MEMORY ETF - MEMORY ETF | — | $36.9M | 0.6% | 500K | New | |||
| 49 | $GOOG | Alphabet Inc. | Technology | $35.3M | 0.6% | 100K | New | |||
| 50 | $TER | TERADYNE, INC | Technology | $34.8M | 0.6% | 72K | -68% | |||
| 51 | $CAR | AVIS BUDGET GROUP, INC. | Consumer Discretionary | $34.7M | 0.6% | 235K | New | |||
| 52 | $FTNT | Fortinet, Inc. | Technology | $33.6M | 0.6% | 219K | New | |||
| 53 | $PURR | Hyperliquid Strategies Inc | Financials | $31.5M | 0.5% | 4.00M | New | |||
| 54 | $GM | General Motors Co | Consumer Discretionary | $30.8M | 0.5% | 400K | New | |||
| 55 | $XPO | XPO, Inc. | Industrials | $30.8M | 0.5% | 150K | New | |||
| 56 | $WULF | TERAWULF INC. | Financials | $29.6M | 0.5% | 1.20M | New | |||
| 57 | $KEYS | Keysight Technologies, Inc. | Technology | $29.4M | 0.5% | 84K | New | |||
| 58 | $IBIT | iShares Bitcoin Trust ETF | Financials | $29.2M | 0.5% | 878K | -37% | |||
| 59 | $PLTR | Palantir Technologies Inc. | Technology | $26.8M | 0.5% | 230K | New | |||
| 60 | — | ISHARES CORE MSCI INTRL DVLP MKT ETF - CORE MSCI INTL | — | $26.7M | 0.5% | 300K | New | |||
| 61 | $TTMI | TTM TECHNOLOGIES INC | Technology | $26.5M | 0.5% | 142K | +115% | |||
| 62 | $NBIX | NEUROCRINE BIOSCIENCES INC | Healthcare | $26.1M | 0.5% | 155K | New | |||
| 63 | $ISRG | INTUITIVE SURGICAL INC | Healthcare | $25.8M | 0.5% | 65K | New | |||
| 64 | $ADBE | ADOBE INC. | Technology | $21.5M | 0.4% | 105K | -21% | |||
| 65 | $SUNC | SunocoCorp LLC | Energy | $18.6M | 0.3% | 275K | New | |||
| 66 | $NKTR | NEKTAR THERAPEUTICS | Healthcare | $18.3M | 0.3% | 262K | — | |||
| 67 | $VEEV | VEEVA SYSTEMS INC | Technology | $16.9M | 0.3% | 95K | New | |||
| 68 | $TDY | TELEDYNE TECHNOLOGIES INC | Technology | $16.7M | 0.3% | 25K | New | |||
| 69 | $ATI | ATI INC | Materials | $15.8M | 0.3% | 80K | New | |||
| 70 | $EFX | EQUIFAX INC | Financials | $14.8M | 0.3% | 93K | New | |||
| 71 | $AMPX | Amprius Technologies, Inc. | Technology | $14.3M | 0.3% | 1.03M | New | |||
| 72 | $PODD | INSULET CORP | Healthcare | $13.7M | 0.2% | 90K | New | |||
| 73 | $KVUE | Kenvue Inc. | Consumer Staples | $13.7M | 0.2% | 716K | New | |||
| 74 | $QRVO | Qorvo, Inc. | Technology | $13.5M | 0.2% | 145K | New | |||
| 75 | — | AMPLIFY JUNIOR SILVER MINERS ETF - JR SILV MINE ETF | — | $13.4M | 0.2% | 516K | New | |||
| 76 | $APG | APi Group Corp | Industrials | $13.3M | 0.2% | 314K | New | |||
| 77 | $YMM | Full Truck Alliance Co. Ltd. | Technology | $13.1M | 0.2% | 300K | New | |||
| 78 | $ARQT | Arcutis Biotherapeutics, Inc. | Healthcare | $12.8M | 0.2% | 487K | -20% | |||
| 79 | $TXNM | TXNM ENERGY INC | Utilities | $12.7M | 0.2% | 223K | New | |||
| 80 | $TTWO | TAKE TWO INTERACTIVE SOFTWARE INC | Technology | $12.5M | 0.2% | 50K | -78% | |||
| 81 | $OKTA | Okta, Inc. | Technology | $12.3M | 0.2% | 90K | New | |||
| 82 | $FIVE | FIVE BELOW, INC | Consumer Discretionary | $11.7M | 0.2% | 65K | New | |||
| 83 | $CXW | CoreCivic, Inc. | Real Estate | $10.6M | 0.2% | 350K | New | |||
| 84 | $SLAB | SILICON LABORATORIES INC. | Technology | $10.4M | 0.2% | 48K | New | |||
| 85 | $MIAX | MIAMI INTERNATIONAL HOLDINGS, INC. | Financials | $10.4M | 0.2% | 279K | New | |||
| 86 | $GEO | GEO GROUP INC | Industrials | $10.3M | 0.2% | 350K | New | |||
| 87 | $TTD | Trade Desk, Inc. | Technology | $9.6M | 0.2% | 532K | New | |||
| 88 | $NOW | ServiceNow, Inc. | Technology | $9.4M | 0.2% | 95K | — | |||
| 89 | $PLNT | Planet Fitness, Inc. | Communication Services | $7.8M | 0.1% | 150K | New | |||
| 90 | $AMLX | Amylyx Pharmaceuticals, Inc. | Healthcare | $7.6M | 0.1% | 425K | New | |||
| 91 | $BZ | Kanzhun Ltd | Technology | $6.9M | 0.1% | 538K | — | |||
| 92 | $CORZ | Core Scientific, Inc./tx | Financials | $6.8M | 0.1% | 266K | New | |||
| 93 | $TAL | TAL Education Group | Consumer Discretionary | $6.7M | 0.1% | 700K | — | |||
| 94 | $LBRT | Liberty Energy Inc. | Energy | $6.5M | 0.1% | 250K | New | |||
| 95 | $RBC | RBC Bearings INC | Industrials | $6.5M | 0.1% | 10K | New | |||
| 96 | $CX | CEMEX SAB DE CV | Materials | $6.2M | 0.1% | 520K | -56% | |||
| 97 | $AVPT | AvePoint, Inc. | Technology | $5.6M | 0.1% | 500K | New | |||
| 98 | $FUN | Six Flags Entertainment Corporation/NEW | Communication Services | $4.1M | 0.1% | 194K | — | |||
| 99 | — | JPMORGAN ACTIVEBLD EMRG MRKT EQY ETF - ACTIVEBLDRS EMER | — | $1.8M | 0.0% | 28K | New | |||
| 100 | $CELC | Celcuity Inc. | Healthcare | $105K | 0.0% | 1,000 | -100% |
What changed in Q2 2026
Against the previous quarter's 13F: 63 new, 15 added to, 15 trimmed, 46 sold out. Share-count changes; largest moves by dollar size first.
New positions (63)
first bought this quarter
first bought this quarter
first bought this quarter
first bought this quarter
- ISHARES MSCI BRAZIL ETF - MSCI BRAZIL ETF$127.7M
first bought this quarter
- ISHARES CHINA LARGE CAP ETF - CHINA LG-CAP ETF$122.5M
first bought this quarter
+57 more in the Excel export
Added to (15)
now $392.7M · held 2 qtrs, 2 adds in a row
- VANECK GOLD MINERS ETF - GOLD MINERS ETF+293%
now $268.0M
now $316.8M · held 7+ qtrs, 2 adds in a row
now $199.8M · held 2 qtrs, 2 adds in a row
now $156.7M · held 7+ qtrs
now $124.9M · held 2 qtrs, 2 adds in a row
+9 more in the Excel export
Trimmed (15)
now $250.1M · held 3 qtrs, 2 trims in a row
now $126.7M · held 7+ qtrs
- VANECK JUNIOR GOLD MINERS ETF - JUNIOR GOLD MINE-73%
now $44.2M
now $170.9M · held 7+ qtrs, 4 trims in a row
$TERTERADYNE, INC-68%
now $34.8M · held 2 qtrs
$CELCCelcuity Inc.-100%
now $105K · held 3 qtrs, 2 trims in a row
+9 more in the Excel export
Holdings by quarter
Every 13F Nearwater Capital Markets, Ltd has filed, 6 earlier quarters. Pick one to see what it held then.
Is it too late to follow Nearwater Capital Markets, Ltd?
Q2 2026 13F filed with the SEC on Aug 14, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of Nearwater Capital Markets, Ltd's top 20 holdings: 72/100 (our AI quality score, weighted by position size; 17 of the 20 are scored)
Top 10 since filing
-7.1%
Value-weighted move of the 10 largest stock positions
Turnover
60%
Last quarter; 163% over the last 4
Top 10 weight
40%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
24%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q4 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
Nearwater Capital Markets, Ltd disclosed 100 positions worth $5.8B in its Form 13F-HR for Q2 2026, led by $RVMD (Revolution Medicines, Inc.) at 6.8% of the equity portfolio, followed by $AMZN. During the quarter the fund opened 63 new positions and exited 46 — including a new stake in $AMD. The portfolio is most concentrated in Technology (36.2% of disclosed assets). All figures are sourced directly from Nearwater Capital Markets, Ltd’s Form 13F-HR filing with the SEC under CIK 1915842.
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AI-Powered Hedge Fund Analysis: Nearwater Capital Markets, Ltd
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Every holding in Nearwater Capital Markets, Ltd's portfolio is scored on an AI quality ranking built from its SEC filings (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.