Deepwater Asset Management, LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 18, 2024), Deepwater Asset Management, LLC reported 26 stock positions worth $265.5 million. Its top holding was Block (XYZ) at 6.3% of the portfolio, followed by Nu Holdings Ltd./Cayman Isl-A (NU, 6.0%) and RH (RH, 5.7%). Compared with Q4 2023, it opened 4 new positions, sold out of 7, added to 11 and reduced 8. The biggest buy was First Watch Restaurant (FWRG, shares +275%) and the biggest sale an exit from Palo Alto Networks (PANW).
- Most Recent 13F
- Q2 2026
- Location
- Minneapolis, MN
- CIK
- 0001964171
- Portfolio Value
- $265.5M (Q1 2024)
- SEC Filing
- 0001172661-24-001902 ↗ filed Apr 18, 2024
Holdings Value
Holdings 26 stocks · $265.5M
| XYZ Block Inc. | 6.25% | 196,189 | $16.6M | Add +5.5% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 5.96% | 1,325,821 | $15.8M | Reduce -19.2% |
| RH RH | 5.71% | 43,523 | $15.2M | Add +8.7% |
| PGNY Progyny Inc. | 5.65% | 393,151 | $15.0M | Add +24.1% |
| META Meta Platforms Inc. Class A | 5.62% | 30,747 | $14.9M | Reduce -16.2% |
| ACVA Acv Auctions Inc. Class A | 5.59% | 790,720 | $14.8M | Reduce -7.2% |
| CRWD CrowdStrike Holdings Inc. Class A | 5.50% | 45,575 | $14.6M | Reduce -18.0% |
| ALGN Align Technology Inc. | 5.45% | 44,119 | $14.5M | Reduce -9.9% |
| MELI MercadoLibre Inc. | 5.36% | 9,409 | $14.2M | Add +14.4% |
| CPNG Coupang Inc. | 5.30% | 791,564 | $14.1M | Reduce -2.5% |
| FIVE Five Below | 5.17% | 75,705 | $13.7M | Add +21.8% |
| FOUR SHIFT4 Payments Inc. Class A | 5.15% | 206,878 | $13.7M | Add +23.7% |
| GOOG Alphabet Inc. Class C | 5.11% | 89,082 | $13.6M | Add +18.5% |
| ISRG Intuitive Surgical Inc. | 5.02% | 33,360 | $13.3M | Reduce -8.8% |
| LULU Lululemon Athletica Inc. | 4.99% | 33,935 | $13.3M | Add +36.2% |
| FRPT Freshpet Inc. | 4.99% | 114,413 | $13.3M | Reduce -20.0% |
| ETSY Etsy Inc. | 4.54% | 175,507 | $12.1M | Add +8.6% |
| FWRG First Watch Restaurant Group | 3.83% | 412,884 | $10.2M | Add +275.3% |
| MU Micron Technology Inc. | 0.64% | 14,342 | $1.7M | New |
| TSM Taiwan Semiconductor-SP ADR | 0.62% | 12,175 | $1.7M | No change |
| GOOGL Alphabet Inc. Class A | 0.62% | 10,931 | $1.6M | No change |
| ONTO Onto Innovation Inc. | 0.60% | 8,819 | $1.6M | New |
| VRT Vertiv Holdings Co. Class A | 0.60% | 19,490 | $1.6M | New |
| CIEN Ciena Corp. | 0.60% | 32,097 | $1.6M | New |
| U Unity Software Inc. | 0.58% | 57,564 | $1.5M | Add +515.5% |
| TTWO Take-Two Interactive Softwre | 0.54% | 9,581 | $1.4M | No change |
Portfolio Sells Q4 2023 → Q1 2024
| PANW Palo Alto Networks Inc. | Sold out | 0.00% | −4.96 |
| EB Eventbrite Inc. Class A | Sold out | 0.00% | −4.12 |
| RSP Invesco S&P 500 Equal Weight | Sold out | 0.00% | −0.72 |
| SWAV Shockwave Medical Inc. | Sold out | 0.00% | −0.39 |
| IWM iShares Russell 2000 ETF | Sold out | 0.00% | −0.31 |
| ADBE Adobe Inc. | Sold out | 0.00% | −0.19 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -18.0% | 5.50% | −0.12 |
| PLTR Palantir Technologies Inc. Class A | Sold out | 0.00% | −0.12 |
| FRPT Freshpet Inc. | Reduce -20.0% | 4.99% | +0.07 |
| CPNG Coupang Inc. | Reduce -2.5% | 5.30% | +0.09 |
| ISRG Intuitive Surgical Inc. | Reduce -8.8% | 5.02% | +0.12 |
| ALGN Align Technology Inc. | Reduce -9.9% | 5.45% | +0.13 |
| META Meta Platforms Inc. Class A | Reduce -16.2% | 5.62% | +0.47 |
| ACVA Acv Auctions Inc. Class A | Reduce -7.2% | 5.59% | +0.47 |
| NU Nu Holdings Ltd./Cayman Isl-A | Reduce -19.2% | 5.96% | +0.54 |
Portfolio Buys Q4 2023 → Q1 2024
| FWRG First Watch Restaurant Group | Add +275.3% | 3.83% | +2.95 |
| RH RH | Add +8.7% | 5.71% | +1.08 |
| PGNY Progyny Inc. | Add +24.1% | 5.65% | +0.98 |
| GOOG Alphabet Inc. Class C | Add +18.5% | 5.11% | +0.91 |
| MU Micron Technology Inc. | New | 0.64% | +0.64 |
| ONTO Onto Innovation Inc. | New | 0.60% | +0.60 |
| VRT Vertiv Holdings Co. Class A | New | 0.60% | +0.60 |
| CIEN Ciena Corp. | New | 0.60% | +0.60 |
| XYZ Block Inc. | Add +5.5% | 6.25% | +0.54 |
| U Unity Software Inc. | Add +515.5% | 0.58% | +0.43 |
| MELI MercadoLibre Inc. | Add +14.4% | 5.36% | +0.23 |
| FOUR SHIFT4 Payments Inc. Class A | Add +23.7% | 5.15% | +0.22 |
| LULU Lululemon Athletica Inc. | Add +36.2% | 4.99% | −0.06 |
| FIVE Five Below | Add +21.8% | 5.17% | −0.08 |
| ETSY Etsy Inc. | Add +8.6% | 4.54% | −0.65 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 35 | $220.2M | RBLX, CRDO, AXON, DDOG, BB |
| Q1 2026 | 39 | $157.8M | RDDT, STRL, NU, CRDO, UBER |
| Q4 2025 | 46 | $343.3M | NU, APP, RDDT, MELI, GLBE |
| Q3 2025 | 31 | $251.3M | META, NU, VRT, MU, APP |
| Q2 2025 | 20 | $252.6M | VRT, TSM, MU, META, NVDA |
| Q1 2025 | 21 | $236.3M | TSM, NVDA, MU, MELI, META |
| Q4 2024 | 23 | $306.4M | ACVA, TSM, FOUR, ONTO, NVDA |
| Q3 2024 | 23 | $284.8M | FOUR, MU, ANET, META, VRT |
| Q2 2024 | 23 | $275.3M | FOUR, NU, NTNX, ANET, META |
| Q1 2024 | 26 | $265.5M | XYZ, NU, RH, PGNY, META |