Nearwater Capital Markets, Ltd Q3 2025 Filing

Filed November 13, 2025

Portfolio Value

$7.5B

Holdings

144

Report Date

Q3 2025

Filing Type

13F-HR

All Holdings (144 positions)

#	Stock	Shares	Value	% Portfolio
1	IVVISHARES CORE S&P 500 ETF	1,250,000	$836.6M	11.19%
2	NVDANVIDIA ORD	4,130,200	$770.6M	10.30%
3	MSFTMICROSOFT ORD	938,675	$486.2M	6.50%
4	AAPLAPPLE ORD	1,368,900	$348.6M	4.66%
5	AVGOBROADCOM ORD	844,000	$278.4M	3.72%
6	GOOGLALPHABET CL A ORD	998,000	$242.6M	3.24%
7	GSGOLDMAN SACHS GROUP ORD	264,015	$210.2M	2.81%
8	METAMETA PLATFORMS CL A ORD	231,000	$169.6M	2.27%
9	PLTRPALANTIR TECHNOLOGIES CL A ORD	890,388	$162.4M	2.17%
10	AMZNAMAZON COM ORD	703,300	$154.4M	2.06%
11	TSLATESLA ORD	340,000	$151.2M	2.02%
12	DWDMORGAN STANLEY ORD	916,809	$145.7M	1.95%
13	GOOGALPHABET CL C ORD	566,500	$138.0M	1.84%
14	BACBANK OF AMERICA ORD	2,650,000	$136.7M	1.83%
15	SCHWCHARLES SCHWAB ORD	1,424,879	$136.0M	1.82%
16	FISVFISERV ORD	995,000	$128.3M	1.72%
17	RYROYAL BANK OF CANADA ORD	738,000	$108.8M	1.45%
18	AMDADVANCED MICRO DEVICES ORD	640,000	$103.5M	1.38%
19	BRK/BBERKSHIRE HATHAWAY CL B ORD	184,800	$92.9M	1.24%
20	GDXJVANECK JUNIOR GOLD MINERS ETF	860,000	$85.2M	1.14%
21	SJMJM SMUCKER ORD	680,000	$73.8M	0.99%
22	HDHOME DEPOT ORD	172,600	$69.9M	0.94%
23	BKNGBOOKING HOLDINGS ORD	12,600	$68.0M	0.91%
24	WMTWALMART ORD	649,100	$66.9M	0.89%
25	CRCCDN NATURAL RESOURCE ORD	2,045,000	$65.5M	0.88%
26	GILDGILEAD SCIENCES ORD	590,000	$65.5M	0.88%
27	BMOBANK OF MONTREAL ORD	485,000	$63.2M	0.84%
28	MFCMANULIFE FINANCIAL ORD	1,900,000	$59.2M	0.79%
29	MUMICRON TECHNOLOGY ORD	341,000	$57.1M	0.76%
30	MAMASTERCARD CL A ORD	100,000	$56.9M	0.76%
31	JPMJPMORGAN CHASE ORD	170,000	$53.6M	0.72%
32	LRCXLAM RESEARCH ORD	390,400	$52.3M	0.70%
33	LUVSOUTHWEST AIRLINES ORD	1,600,000	$51.1M	0.68%
34	HONHONEYWELL INTERNATIONAL ORD	238,700	$50.2M	0.67%
35	COSTCOSTCO WHOLESALE ORD	53,300	$49.3M	0.66%
36	DISWALT DISNEY ORD	383,200	$43.9M	0.59%
37	MCDMCDONALD'S ORD	133,000	$40.4M	0.54%
38	IBITISHARES BITCOIN ETF	600,000	$39.0M	0.52%
39	FXIISHARES CHINA LARGE CAP ETF	940,000	$38.7M	0.52%
40	WDAYWORKDAY CL A ORD	150,000	$36.1M	0.48%
41	LLYELI LILLY ORD	46,800	$35.7M	0.48%
42	ADBEADOBE ORD	100,000	$35.3M	0.47%
43	CRDOCREDO TECHNOLOGY GROUP HOLDING ORD	240,100	$35.0M	0.47%
44	CSCOCISCO SYSTEMS ORD	502,600	$34.4M	0.46%
45	PGRPROGRESSIVE ORD	135,000	$33.3M	0.45%
46	MDTMEDTRONIC ORD	350,000	$33.3M	0.45%
47	JNJJOHNSON & JOHNSON ORD	179,300	$33.2M	0.44%
48	LMTLOCKHEED MARTIN ORD	65,000	$32.4M	0.43%
49	WFCWELLS FARGO ORD	360,000	$30.2M	0.40%
50	LIESUN LIFE FINANCIAL ORD	490,000	$29.4M	0.39%
51	CRWDCROWDSTRIKE HOLDINGS CL A ORD	60,000	$29.4M	0.39%
52	ABBVABBVIE ORD	125,000	$28.9M	0.39%
53	IM8NINSMED ORD	200,000	$28.8M	0.39%
54	4I1PHILIP MORRIS INTERNATIONAL ORD	175,400	$28.4M	0.38%
55	UNHUNITEDHEALTH GRP ORD	79,000	$27.3M	0.36%
56	TRVCCITIGROUP ORD	265,000	$26.9M	0.36%
57	CRMSALESFORCE ORD	111,200	$26.4M	0.35%
58	UNPUNION PACIFIC ORD	100,000	$23.6M	0.32%
59	INTUINTUIT ORD	33,600	$22.9M	0.31%
60	GEGE AEROSPACE ORD	73,800	$22.2M	0.30%
61	UBERUBER TECHNOLOGIES ORD	220,000	$21.6M	0.29%
62	NOWSERVICENOW ORD	23,000	$21.2M	0.28%
63	FTSFORTIS ORD	387,000	$19.6M	0.26%
64	IBMINTERNATIONAL BUSINESS MACHINES ORD	69,300	$19.6M	0.26%
65	KOCOCA-COLA ORD	287,300	$19.1M	0.25%
66	TJXTJX ORD	130,000	$18.8M	0.25%
67	AMATAPPLIED MATERIAL ORD	86,500	$17.7M	0.24%
68	FUNSIX FLAGS ENTERTAINMENT ORD	755,500	$17.2M	0.23%
69	MLYSMINERALYS THERAPEUTICS ORD	450,000	$17.1M	0.23%
70	PEPPEPSICO ORD	120,000	$16.9M	0.23%
71	HTHTH WORLD GROUP ADR	428,800	$16.8M	0.22%
72	RTXRTX ORD	100,000	$16.7M	0.22%
73	PGPROCTER & GAMBLE ORD	108,900	$16.7M	0.22%
74	ANETARISTA NETWORKS ORD	112,600	$16.4M	0.22%
75	TXNTEXAS INSTRUMENTS ORD	89,000	$16.4M	0.22%
76	CVXCHEVRON ORD	104,559	$16.2M	0.22%
77	MRKMERCK & CO ORD	185,600	$15.6M	0.21%
78	SPHRSPHERE ENTERTAINMENT CL A ORD	250,000	$15.5M	0.21%
79	LINLINDE ORD	32,400	$15.4M	0.21%
80	KLACKLA ORD	14,000	$15.1M	0.20%
81	TAT&T ORD	531,300	$15.0M	0.20%
82	ADIANALOG DEVICES ORD	60,000	$14.7M	0.20%
83	APPAPPLOVIN CL A ORD	19,700	$14.2M	0.19%
84	BZKANZHUN ADR REP 2 ORD	600,000	$14.0M	0.19%
85	NEENEXTERA ENERGY ORD	185,200	$14.0M	0.19%
86	TMOTHERMO FISHER SCIENTIFIC ORD	27,900	$13.5M	0.18%
87	AEMAGNICO EAGLE ORD	80,000	$13.5M	0.18%
88	CHWYCHEWY CL A ORD	315,000	$12.7M	0.17%
89	ORCLORACLE ORD	45,000	$12.7M	0.17%
90	ISRGINTUITIVE SURGICAL ORD	27,579	$12.3M	0.16%
91	CLCOLGATE PALMOLIVE ORD	152,000	$12.2M	0.16%
92	RJFRAYMOND JAMES ORD	70,000	$12.1M	0.16%
93	ADSKAUTODESK ORD	38,000	$12.1M	0.16%
94	SESEA ADS REP CL A ORD	67,500	$12.1M	0.16%
95	PKGPACKAGING CORP OF AMERICA ORD	55,000	$12.0M	0.16%
96	PLDPROLOGIS REIT	100,000	$11.5M	0.15%
97	NXPINXP SEMICONDUCTORS ORD	50,000	$11.4M	0.15%
98	AFLAFLAC ORD	100,000	$11.2M	0.15%
99	LNGCHENIERE ENERGY ORD	47,000	$11.0M	0.15%
100	PDDPDD HOLDINGS ADS	83,100	$11.0M	0.15%

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