Q2 2026 13F · SEC CIK 1915842

Nearwater Capital Markets, Ltd

Asset managerFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $5.8B
Reported positions: 100
Holdings vs S&P 500, 3 yrs: —
Average holding period: 4 qtrs

Nearwater Capital Markets, Ltd is an asset manager that reported 100 positions worth $5.8B in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Revolution Medicines Inc (RVMD, 6.8%), Amazon Com Inc Com (AMZN, 5.5%), Vaneck Gold Miners ETF (GDX, 4.6%).

Nearwater Capital Markets, Ltd holdings largest 50 of 100 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Nearwater Capital Markets, Ltd 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
RVMDRevolution Medicines Inc	6.8%	1.6%	2,097,000	+209.3%	$392.7M
AMZNAmazon Com Inc Com	5.5%	3.1%	1,329,000	+107.7%	$316.8M
GDXVaneck Gold Miners ETF	4.6%	2.0%	3,551,500	+292.9%	$268.0M
SNDKSandisk Corp	4.3%	3.1%	110,000	-46.6%	$250.1M
AMDAdvanced Micro Devices Inc	3.9%	—	388,000	—	$225.4M
NCLHNorwegian Cruise Line Hldg L	3.4%	1.5%	9,465,000	+178.0%	$199.8M
GOOGLAlphabet Inc	3.3%	2.0%	527,900	+80.8%	$188.7M
NVDANvidia Corporation Com	2.9%	5.9%	854,000	-40.2%	$170.9M
UBERUber Technologies Inc	2.7%	—	2,181,000	—	$157.4M
MSFTMicrosoft Corp	2.7%	1.4%	420,000	+154.5%	$156.7M
TSLATesla Inc Com	2.4%	—	332,000	—	$139.6M
HUTHut 8 Corp	2.3%	—	1,161,500	—	$134.1M
EWZIshares Inc	2.2%	—	3,700,000	—	$127.7M
AAPLApple Inc	2.2%	6.0%	438,000	-56.6%	$126.7M
SNPSSynopsys Inc	2.2%	0.7%	280,000	+250.0%	$124.9M
FXIIshares China Lrg Cap ETF	2.1%	—	3,877,000	—	$122.5M
IEMGIshares	1.8%	—	1,250,200	—	$103.6M
TXNTexas Instruments Inc	1.5%	—	295,000	—	$87.9M
DXCMDexcom Inc	1.5%	—	1,250,000	—	$84.2M
UUnity Software Inc	1.4%	—	2,881,000	—	$82.3M
HONHoneywell International Inc.	1.3%	—	348,500	—	$78.0M
DTDynatrace Inc	1.3%	—	1,770,000	—	$77.7M
HONAHoneywell Aerospace Inc.	1.3%	—	348,500	—	$77.0M
COFCapital One Financial Corp	1.3%	—	362,400	—	$72.7M
MSMorgan Stanley Com New	1.2%	—	340,000	—	$71.1M
ACWIIshares Tr	1.2%	2.1%	431,900	-32.7%	$67.8M
XOMExxon Mobil Corp	1.1%	—	453,000	—	$61.9M
WBSWebster Finl Corp	1.0%	0.7%	778,000	+88.8%	$59.5M
RTXRtx Corporation Com	1.0%	—	305,000	—	$57.9M
ROSTRoss Stores Inc.	0.9%	0.7%	256,000	+96.9%	$54.5M
ANETArista Networks Inc	0.9%	0.9%	319,000	+0.0%	$54.2M
ROIVRoivant Sciences Ltd	0.9%	—	1,500,000	—	$53.1M
EFAiShs MSCI EAFE	0.8%	—	465,000	—	$48.3M
EEMIshares	0.8%	0.8%	700,000	+21.2%	$47.9M
UALUnited Airls Hldgs Inc	0.8%	—	351,000	—	$47.7M
NSCNorfolk Southn Corp	0.8%	—	149,000	—	$46.9M
PHParker-Hannifin Corp	0.8%	—	47,000	—	$46.0M
CIENCiena Corp	0.8%	—	93,000	—	$45.6M
HLTHilton Worldwide Holdings Inc	0.8%	—	137,000	—	$45.3M
ALGNAlign Technology Inc	0.8%	—	268,000	—	$45.2M
GDXJVaneck ETF Trust	0.8%	4.6%	450,000	-72.5%	$44.2M
BRK-BBerkshire Hathaway Inc Del	0.8%	1.4%	88,000	-29.0%	$44.0M
UNHUnitedhealth Group Inc Com	0.7%	—	100,000	—	$41.6M
SPHRSphere Entertainment Co	0.7%	1.0%	229,200	-38.9%	$39.7M
COPXGlobal X Copper Miners ETF	0.7%	1.7%	500,000	-46.5%	$38.5M
GTLSChart Inds Inc	0.7%	—	184,000	—	$38.4M
TMOThermo Fisher Scientific Inc	0.6%	—	74,000	—	$37.1M
DRAMRoundhill ETF Trust	0.6%	—	500,000	—	$36.9M
GOOGAlphabet Inc	0.6%	—	100,000	—	$35.3M
TERTeradyne Inc	0.6%	1.6%	72,000	-68.0%	$34.8M

What Nearwater Capital Markets, Ltd bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +24.4% /yr; S&P 500 +20.1%
3 years: —
5 years: —

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$5.8B	100
Q1 2026	$4.2B	82
Q4 2025	$5.8B	104
Q3 2025	$7.5B	144
Q2 2025	$6.3B	103
Q1 2025	$3.5B	89
Q4 2024	$3.5B	78

Questions about Nearwater Capital Markets, Ltd's portfolio

What stocks does Nearwater Capital Markets, Ltd own?

Nearwater Capital Markets, Ltd's latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 100 positions worth $5.8B. The largest are Revolution Medicines Inc (RVMD) at 6.8%, Amazon Com Inc Com (AMZN) at 5.5%, Vaneck Gold Miners ETF (GDX) at 4.6%, Sandisk Corp (SNDK) at 4.3% and Advanced Micro Devices Inc (AMD) at 3.9%.

What did Nearwater Capital Markets, Ltd buy last quarter?

In Q2 2026, Nearwater Capital Markets, Ltd added Vaneck Gold Miners ETF (GDX) (+292.9% shares), Synopsys Inc (SNPS) (+250.0% shares) and Revolution Medicines Inc (RVMD) (+209.3% shares), compared with its Q1 2026 filing.

What did Nearwater Capital Markets, Ltd sell last quarter?

In Q2 2026, Nearwater Capital Markets, Ltd cut from its top 50 SPDR Portfolio Developed World (SPDW), cut from its top 50 Vanguard Tax-Managed Fds (VEA), cut from its top 50 Ishares Core Msci Total International St (IXUS), cut from its top 50 Terns Pharmaceuticals Inc (TERN), cut from its top 50 Caterpillar Inc Com (CAT), Vaneck ETF Trust (GDXJ) (-72.5% shares), Teradyne Inc (TER) (-68.0% shares) and Apple Inc (AAPL) (-56.6% shares), compared with its Q1 2026 filing.

When is Nearwater Capital Markets, Ltd's next 13F filing due?

13F filings are due 45 days after each quarter ends. Nearwater Capital Markets, Ltd's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.