Fund Holdings — Nearwater Capital Markets, Ltd

Total Portfolio Value
$7.48B
Total Bought
$1.88B
Total Sold
$1.23B
Net Transaction
+$652.47M
Filing Period:
Securities
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SharesValue ($K)
Q2 2025
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Q3 2025
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Change
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Q2 2025
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Q3 2025
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Weight (%)
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Change
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MICROSOFT ORD(MSFT)716,575938,675+222,100356,432486,1876.50%+129,755
FISERV ORD(FISV)0995,000+995,0000128,2851.72%+128,285
ROYAL BANK OF CANADA ORD(RY)0738,000+738,0000108,7921.45%+108,792
NVIDIA ORD(NVDA)4,216,3004,130,200-86,100666,133770,61310.30%+104,479
APPLE ORD(AAPL)1,278,0001,368,900+90,900262,207348,5634.66%+86,356
JM SMUCKER ORD(SJM)0680,000+680,000073,8480.99%+73,848
TESLA ORD(TSLA)266,000340,000+74,00084,498151,2052.02%+66,707
CDN NATURAL RESOURCE ORD(CNQ)02,045,000+2,045,000065,5040.88%+65,504
BANK OF MONTREAL ORD0485,000+485,000063,1520.84%+63,152
HOME DEPOT ORD(HD)20,000172,600+152,6007,33369,9360.94%+62,603
ISHARES CORE S&P 500 ETF1,250,0001,250,0000776,125836,62511.19%+60,500
MANULIFE FINANCIAL ORD(MFC)01,900,000+1,900,000059,2070.79%+59,207
BANK OF AMERICA ORD1,750,0002,650,000+900,00082,810136,7141.83%+53,904
ALPHABET CL A ORD(GOOG)1,076,000998,000-78,000189,623242,6143.24%+52,990
GILEAD SCIENCES ORD(GILD)150,000590,000+440,00016,63165,4900.88%+48,860
WALMART ORD(WMT)225,000649,100+424,10022,00166,8960.89%+44,896
BOOKING HOLDINGS ORD(BKNG)4,00012,600+8,60023,15768,0310.91%+44,874
ISHARES BITCOIN ETF(IBIT)0600,000+600,000039,0000.52%+39,000
WORKDAY CL A ORD(WDAY)0150,000+150,000036,1100.48%+36,110
ALPHABET CL C ORD(GOOG)575,000566,500-8,500101,999137,9711.84%+35,972
ELI LILLY ORD(LLY)046,800+46,800035,7080.48%+35,708
CREDO TECHNOLOGY GROUP HOLDING ORD
ORDINARY SHARES
0240,100+240,100034,9610.47%+34,961
MEDTRONIC ORD(MDT)0350,000+350,000033,3340.45%+33,334
JOHNSON & JOHNSON ORD(JNJ)0179,300+179,300033,2460.44%+33,246
SUN LIFE FINANCIAL ORD(SLF)0490,000+490,000029,4290.39%+29,429
INSMED ORD(INSM)0200,000+200,000028,8020.39%+28,802
COSTCO WHOLESALE ORD(COST)24,00053,300+29,30023,75949,3360.66%+25,578
GOLDMAN SACHS GROUP ORD(GS)264,015264,0150186,857210,2482.81%+23,392
LAM RESEARCH ORD(LRCX)320,000390,400+70,40031,14952,2750.70%+21,126
FORTIS ORD(FTS)0387,000+387,000019,6330.26%+19,633
INTERNATIONAL BUSINESS MACHINES ORD(IBM)069,300+69,300019,5540.26%+19,554
COCA-COLA ORD(KO)0287,300+287,300019,0540.25%+19,054
PHILIP MORRIS INTERNATIONAL ORD(PM)60,000175,400+115,40010,92828,4500.38%+17,522
PROGRESSIVE ORD(PGR)60,000135,000+75,00016,01233,3380.45%+17,327
SIX FLAGS ENTERTAINMENT ORD(FUN)0755,500+755,500017,1650.23%+17,165
MINERALYS THERAPEUTICS ORD(MLYS)0450,000+450,000017,0640.23%+17,064
H WORLD GROUP ADR(HTHT)0428,800+428,800016,7700.22%+16,770
PROCTER & GAMBLE ORD(PG)0108,900+108,900016,7320.22%+16,732
MORGAN STANLEY ORD(MS)916,809916,8090129,142145,7361.95%+16,594
MERCK & CO ORD(MRK)0185,600+185,600015,5770.21%+15,577
SPHERE ENTERTAINMENT CL A ORD(SPHR)0250,000+250,000015,5300.21%+15,530
LINDE ORD(LIN)032,400+32,400015,3900.21%+15,390
MICRON TECHNOLOGY ORD(MU)341,000341,000042,02857,0560.76%+15,028
AT&T ORD(T)0531,300+531,300015,0040.20%+15,004
APPLOVIN CL A ORD(APP)019,700+19,700014,1550.19%+14,155
KANZHUN ADR REP 2 ORD(BZ)0600,000+600,000014,0160.19%+14,016
AGNICO EAGLE ORD(AEM)080,000+80,000013,4770.18%+13,477
HONEYWELL INTERNATIONAL ORD(HON)159,222238,700+79,47837,08050,2460.67%+13,167
CHEWY CL A ORD(CHWY)0315,000+315,000012,7420.17%+12,742
ADVANCED MICRO DEVICES ORD(AMD)640,000640,000090,816103,5461.38%+12,730
INTUIT ORD(INTU)13,00033,600+20,60010,23922,9460.31%+12,707
ORACLE ORD(ORCL)045,000+45,000012,6560.17%+12,656
SOUTHWEST AIRLINES ORD(LUV)1,200,0001,600,000+400,00038,92851,0560.68%+12,128
SEA ADS REP CL A ORD(SE)067,500+67,500012,0640.16%+12,064
LOCKHEED MARTIN ORD(LMT)45,00065,000+20,00020,84132,4490.43%+11,607
NXP SEMICONDUCTORS ORD
COM
050,000+50,000011,3870.15%+11,387
PDD HOLDINGS ADS(PDD)083,100+83,100010,9830.15%+10,983
GE VERNOVA ORD(GEV)017,700+17,700010,8840.15%+10,884
CEMEX ADR REP 10 PAR CRTFCT(CX)01,189,900+1,189,900010,6970.14%+10,697
VANECK JUNIOR GOLD MINERS ETF
JUNIOR GOLD MINE
1,110,000860,000-250,00075,02585,1661.14%+10,141
DOMINOS PIZZA ORD(DPZ)019,000+19,00008,2020.11%+8,202
TAL EDUCATION GRP 3 ADR REP CL A ORD(TAL)0700,000+700,00007,8400.10%+7,840
PALANTIR TECHNOLOGIES CL A ORD(PLTR)1,134,088890,388-243,700154,599162,4252.17%+7,826
JOHNSON CONTROLS INTERNATIONAL ORD
SHS
070,000+70,00007,6970.10%+7,697
ESCO TECHNOLOGIES ORD(ESE)034,600+34,60007,3040.10%+7,304
QFIN HOLDINGS ADR(QFIN)0250,000+250,00007,1950.10%+7,195
MOOG CL A ORD(MOG-A)033,500+33,50006,9570.09%+6,957
BERKSHIRE HATHAWAY CL B ORD177,000184,800+7,80085,98192,9061.24%+6,925
EXPONENT ORD(EXPO)095,300+95,30006,6210.09%+6,621
HYDRO ONE ORD(HRNNF)0175,000+175,00006,2440.08%+6,244
LANTHEUS HOLDINGS ORD(LNTH)0119,600+119,60006,1340.08%+6,134
CHARLES SCHWAB ORD(SCHW)1,424,8791,424,8790130,006136,0331.82%+6,027
ABBVIE ORD(ABBV)125,000125,000023,20328,9430.39%+5,740
ICICI BANK ADR REP 2 ORD(IBN)0180,300+180,30005,4500.07%+5,450
THERMO FISHER SCIENTIFIC ORD(TMO)20,00027,900+7,9008,10913,5320.18%+5,423
TECK RESOURCES CL B ORD(TECK)0100,000+100,00004,3880.06%+4,388
CITIGROUP ORD(C)265,000265,000022,55726,8980.36%+4,341
ABBOTT LABORATORIES ORD031,900+31,90004,2730.06%+4,273
PIMCO 25YR ZERO CUPN US TRS INDX ETF
25YR+ ZERO U S
062,700+62,70004,2610.06%+4,261
S&P GLOBAL ORD(SPGI)08,400+8,40004,0880.05%+4,088
VANGUARD TOTAL BOND MARKET ETF054,400+54,40004,0460.05%+4,046
TEXAS INSTRUMENTS ORD(TXN)60,00089,000+29,00012,45716,3520.22%+3,895
SIRIUSPOINT ORD(SPNT)0199,200+199,20003,6040.05%+3,604
GE AEROSPACE ORD(GE)73,80073,800018,99522,2010.30%+3,205
HAMILTON INSURANCE GROUP CL B ORD(HG)0120,100+120,10002,9780.04%+2,978
ACADIAN ASSET MANAGEMENT ORD(AAMI)060,000+60,00002,8900.04%+2,890
NEXTERA ENERGY ORD(NEE)160,000185,200+25,20011,10713,9810.19%+2,874
JOYY ADR(JOYY)045,500+45,50002,6670.04%+2,667
KLA ORD(KLAC)14,00014,000012,54015,1000.20%+2,560
CNO FINANCIAL GROUP ORD059,300+59,30002,3450.03%+2,345
HOME BANCSHARES ORD(HOMB)081,800+81,80002,3150.03%+2,315
VIRTUS INVESTMENT PARTNERS ORD(VRTS)011,400+11,40002,1660.03%+2,166
RTX ORD(RTX)100,000100,000014,60216,7330.22%+2,131
CATERPILLAR ORD(CAT)04,000+4,00001,9090.03%+1,909
PACKAGING CORP OF AMERICA ORD(PKG)55,00055,000010,36511,9860.16%+1,621
MCDONALD'S ORD(MCD)133,000133,000038,85940,4170.54%+1,559
INDIVIOR ORD060,000+60,00001,4470.02%+1,447
RAYMOND JAMES ORD(RJF)70,00070,000010,73612,0820.16%+1,346
CHEVRON ORD(CVX)104,559104,559014,97216,2370.22%+1,265
UBER TECHNOLOGIES ORD(UBER)220,000220,000020,52621,5530.29%+1,027
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