Deepwater Asset Management, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Deepwater Asset Management, LLC reported 20 stock positions worth $252.6 million. Its top holding was Vertiv Class A (VRT) at 6.8% of the portfolio, followed by Taiwan Semiconductor-SP ADR (TSM, 6.5%) and Micron Technology (MU, 6.4%). Compared with Q1 2025, it opened 1 new position, sold out of 2, added to 4 and reduced 12. The biggest buy was Confluent Inc. (cflt 0 01/15/27) (shares +17%) and the biggest sale an exit from Onto Innovation (ONTO).
- Most Recent 13F
- Q2 2026
- Location
- Minneapolis, MN
- CIK
- 0001964171
- Portfolio Value
- $252.6M (Q2 2025)
- SEC Filing
- 0001172661-25-003342 ↗ filed Aug 14, 2025
Holdings Value
Holdings 20 stocks · $252.6M
| VRT Vertiv Holdings Co. Class A | 6.76% | 132,925 | $17.1M | Reduce -16.9% |
| TSM Taiwan Semiconductor-SP ADR | 6.53% | 72,806 | $16.5M | Reduce -10.8% |
| MU Micron Technology Inc. | 6.39% | 131,022 | $16.1M | Reduce -13.8% |
| META Meta Platforms Inc. Class A | 6.17% | 21,109 | $15.6M | Reduce -6.6% |
| NVDA Nvidia Corp. | 6.16% | 98,482 | $15.6M | Reduce -21.1% |
| CONFLUENT INC (CFLT 0 01/15/27) | 6.10% | 618,539 | $15.4M | Add +17.3% |
| AVGO Broadcom Inc. | 6.06% | 55,503 | $15.3M | Reduce -21.3% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 6.00% | 1,105,675 | $15.2M | Reduce -12.2% |
| ASML ASML Holding NV-NY Reg SHS | 5.99% | 18,878 | $15.1M | No change |
| ANET Arista Networks Inc. | 5.95% | 146,811 | $15.0M | Reduce -4.0% |
| ACVA Acv Auctions Inc. Class A | 5.84% | 909,827 | $14.8M | Reduce -0.5% |
| FOUR SHIFT4 Payments Inc. Class A | 5.79% | 147,509 | $14.6M | Reduce -5.7% |
| MELI MercadoLibre Inc. | 5.52% | 5,336 | $13.9M | Reduce -20.7% |
| SG Sweetgreen Inc. Class A | 5.50% | 934,474 | $13.9M | Add +105.9% |
| GLBE Global-E Online Ltd. | 5.15% | 387,855 | $13.0M | Add +10.7% |
| FRPT Freshpet Inc. | 4.48% | 166,533 | $11.3M | Add +28.4% |
| FWRG First Watch Restaurant Group | 4.01% | 631,052 | $10.1M | Reduce -7.4% |
| TTWO Take-Two Interactive Softwre | 0.71% | 7,364 | $1.8M | No change |
| BOX Box Inc. Class A | 0.61% | 44,952 | $1.5M | New |
| AAPL Apple Inc. | 0.29% | 3,605 | $740K | No change |
Portfolio Sells Q1 2025 → Q2 2025
| ONTO Onto Innovation Inc. | Sold out | 0.00% | −5.41 |
| LULU Lululemon Athletica Inc. | Sold out | 0.00% | −4.29 |
| FWRG First Watch Restaurant Group | Reduce -7.4% | 4.01% | −0.79 |
| MELI MercadoLibre Inc. | Reduce -20.7% | 5.52% | −0.03 |
| FOUR SHIFT4 Payments Inc. Class A | Reduce -5.7% | 5.79% | +0.38 |
| ACVA Acv Auctions Inc. Class A | Reduce -0.5% | 5.84% | +0.39 |
| NVDA Nvidia Corp. | Reduce -21.1% | 6.16% | +0.43 |
| NU Nu Holdings Ltd./Cayman Isl-A | Reduce -12.2% | 6.00% | +0.55 |
| META Meta Platforms Inc. Class A | Reduce -6.6% | 6.17% | +0.66 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -10.8% | 6.53% | +0.79 |
| MU Micron Technology Inc. | Reduce -13.8% | 6.39% | +0.80 |
| ANET Arista Networks Inc. | Reduce -4.0% | 5.95% | +0.93 |
| AVGO Broadcom Inc. | Reduce -21.3% | 6.06% | +1.06 |
| VRT Vertiv Holdings Co. Class A | Reduce -16.9% | 6.76% | +1.87 |
Portfolio Buys Q1 2025 → Q2 2025
| CONFLUENT INC (CFLT 0 01/15/27) | Add +17.3% | 6.10% | +0.87 |
| SG Sweetgreen Inc. Class A | Add +105.9% | 5.50% | +0.70 |
| BOX Box Inc. Class A | New | 0.61% | +0.61 |
| FRPT Freshpet Inc. | Add +28.4% | 4.48% | −0.08 |
| GLBE Global-E Online Ltd. | Add +10.7% | 5.15% | −0.14 |
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 |