NEARWATER CAPITAL MARKETS LTD
Q4 2025 Form 13-F
DUBLIN 4, DUBLIN
CIK 0001915842
· Institutional investment manager
$5.8B Reported Value Total
Reported value
$5.8B
Quarter over quarter
+1.8%
Holdings
104
Top-10 concentration
46.8%
Key People
Named on the latest Form 13-F filing — not necessarily an owner
Ursula Clay
Chief Compliance Officer
Filing Navigation
13F Metrics
Loading 13F Metrics
Q4 2025 13F record
Q4 2025 13F filing summary
| Period of report | December 31, 2025 |
|---|---|
| Filed | February 17, 2026 |
| Form | 13F-HR |
| Reported value | $5.8B |
| Positions | 104 |
| Change in reported value | -21.8% |
| New positions | 38 |
| Exited positions | 78 |
| Position turnover | 63.7% |
| Top-10 concentration | 46.8% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q2 2026 13F
Filed Aug 14, 2026
|
100 | $5.8B |
|
Q1 2026 13F
Filed May 15, 2026
|
82 | $4.2B |
|
Q4 2025 13F
Filed Feb 17, 2026
|
104 | $5.8B |
|
Q3 2025 13F
Filed Nov 13, 2025
|
144 | $7.5B |
|
Q2 2025 13F
Filed Aug 13, 2025
|
103 | $6.3B |
|
Q1 2025 13F
Filed May 15, 2025
|
89 | $3.5B |
|
Q4 2024 13F
Filed Feb 14, 2025
|
78 | $3.5B |
Top 20 holdings · Q4 2025
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | GOOGL ALPHABET INC | $409.7M | 7.01% |
| 2 | MSFT MICROSOFT CORP | $358.4M | 6.13% |
| 3 | NVDA NVIDIA CORPORATION | $347.3M | 5.94% |
| 4 | VEA VANGUARD TAX-MANAGED FDS | $294.5M | 5.04% |
| 5 | AVGO BROADCOM INC | $278.3M | 4.76% |
| 6 | META META PLATFORMS INC | $270.6M | 4.63% |
| 7 | AAPL APPLE ORD | $208.2M | 3.56% |
| 8 | MU MICRON TECHNOLOGY INC | $196.9M | 3.37% |
| 9 | GDXJ VANECK ETF TRUST | $186.6M | 3.19% |
| 10 | WMT WALMART INC | $185.1M | 3.16% |
| 11 | LRCX LAM RESEARCH CORP | $140.4M | 2.4% |
| 12 | TSLA TESLA INC | $128.4M | 2.2% |
| 13 | MRVL MARVELL TECHNOLOGY INC | $127.0M | 2.17% |
| 14 | GILD GILEAD SCIENCES INC | $124.3M | 2.13% |
| 15 | LUV SOUTHWEST AIRLS CO | $115.7M | 1.98% |
| 16 | FXI ISHARES TR | $106.6M | 1.82% |
| 17 | INSM INSMED INC | $87.0M | 1.49% |
| 18 | BAC BANK AMERICA CORP | $85.3M | 1.46% |
| 19 | VT VANGUARD INTL EQUITY INDEX FUND | $74.4M | 1.27% |
| 20 | SCHW SCHWAB CHARLES CORP | $72.1M | 1.23% |
Values as reported on the Q4 2025 Form 13F. Every position is in the holdings table below.