Deepwater Asset Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Deepwater Asset Management, LLC reported 31 stock positions worth $251.3 million. Its top holding was Meta Platforms Class A (META) at 5.7% of the portfolio, followed by Nu Holdings Ltd./Cayman Isl-A (NU, 5.7%) and Vertiv Class A (VRT, 5.6%). Compared with Q2 2025, it opened 13 new positions, sold out of 2, added to 6 and reduced 11. The biggest buy was a new position in AppLovin Class A (APP) and the biggest sale Taiwan Semiconductor-SP ADR (TSM, shares −91%).
- Most Recent 13F
- Q2 2026
- Location
- Minneapolis, MN
- CIK
- 0001964171
- Portfolio Value
- $251.3M (Q3 2025)
- SEC Filing
- 0001172661-25-004714 ↗ filed Nov 12, 2025
Holdings Value
Holdings 31 stocks · $251.3M
| META Meta Platforms Inc. Class A | 5.71% | 19,530 | $14.3M | Reduce -7.5% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 5.68% | 891,896 | $14.3M | Reduce -19.3% |
| VRT Vertiv Holdings Co. Class A | 5.65% | 94,078 | $14.2M | Reduce -29.2% |
| MU Micron Technology Inc. | 5.59% | 83,977 | $14.1M | Reduce -35.9% |
| APP AppLovin Corp. Class A | 5.54% | 19,370 | $13.9M | New |
| UBER Uber Technologies Inc. | 5.51% | 141,229 | $13.8M | New |
| MELI MercadoLibre Inc. | 5.21% | 5,601 | $13.1M | Add +5.0% |
| WDAY Workday Inc. Class A | 5.10% | 53,236 | $12.8M | New |
| ASML ASML Holding NV-NY Reg SHS | 5.07% | 13,159 | $12.7M | Reduce -30.3% |
| FOUR SHIFT4 Payments Inc. Class A | 5.07% | 164,482 | $12.7M | Add +11.5% |
| GLBE Global-E Online Ltd. | 5.04% | 354,448 | $12.7M | Reduce -8.6% |
| CONFLUENT INC (CFLT 0 01/15/27) | 5.04% | 639,654 | $12.7M | Add +3.4% |
| RBRK Rubrik Inc. Class A | 4.98% | 152,097 | $12.5M | New |
| CWAN Clearwater Analytics HDS-A | 4.88% | 680,652 | $12.3M | New |
| BROS Dutch Bros Inc. Class A | 4.87% | 233,841 | $12.2M | New |
| FWRG First Watch Restaurant Group | 4.51% | 724,714 | $11.3M | Add +14.8% |
| FRPT Freshpet Inc. | 4.17% | 190,301 | $10.5M | Add +14.3% |
| ACVA Acv Auctions Inc. Class A | 4.11% | 1,040,836 | $10.3M | Add +14.4% |
| CVNA Carvana Co. | 1.93% | 12,885 | $4.9M | New |
| NVDA Nvidia Corp. | 0.79% | 10,648 | $2.0M | Reduce -89.2% |
| ANET Arista Networks Inc. | 0.75% | 12,944 | $1.9M | Reduce -91.2% |
| TSM Taiwan Semiconductor-SP ADR | 0.74% | 6,685 | $1.9M | Reduce -90.8% |
| AVGO Broadcom Inc. | 0.73% | 5,550 | $1.8M | Reduce -90.0% |
| IYK iShares US Consumer Staples | 0.71% | 26,139 | $1.8M | New |
| GOOG Alphabet Inc. Class C | 0.41% | 4,267 | $1.0M | New |
| SNPS Synopsys Inc. | 0.37% | 1,903 | $939K | New |
| FSLR First Solar Inc. | 0.37% | 4,223 | $931K | New |
| TTWO Take-Two Interactive Softwre | 0.37% | 3,594 | $929K | Reduce -51.2% |
| AAPL Apple Inc. | 0.37% | 3,605 | $918K | No change |
| SE Sea Ltd.-ADR | 0.36% | 5,098 | $911K | New |
| PINS Pinterest Inc. Class A | 0.35% | 27,697 | $891K | New |
Portfolio Sells Q2 2025 → Q3 2025
| TSM Taiwan Semiconductor-SP ADR | Reduce -90.8% | 0.74% | −5.78 |
| SG Sweetgreen Inc. Class A | Sold out | 0.00% | −5.50 |
| NVDA Nvidia Corp. | Reduce -89.2% | 0.79% | −5.37 |
| AVGO Broadcom Inc. | Reduce -90.0% | 0.73% | −5.33 |
| ANET Arista Networks Inc. | Reduce -91.2% | 0.75% | −5.20 |
| VRT Vertiv Holdings Co. Class A | Reduce -29.2% | 5.65% | −1.11 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -30.3% | 5.07% | −0.92 |
| MU Micron Technology Inc. | Reduce -35.9% | 5.59% | −0.80 |
| BOX Box Inc. Class A | Sold out | 0.00% | −0.61 |
| META Meta Platforms Inc. Class A | Reduce -7.5% | 5.71% | −0.46 |
| TTWO Take-Two Interactive Softwre | Reduce -51.2% | 0.37% | −0.34 |
| NU Nu Holdings Ltd./Cayman Isl-A | Reduce -19.3% | 5.68% | −0.32 |
| GLBE Global-E Online Ltd. | Reduce -8.6% | 5.04% | −0.10 |
Portfolio Buys Q2 2025 → Q3 2025
| APP AppLovin Corp. Class A | New | 5.54% | +5.54 |
| UBER Uber Technologies Inc. | New | 5.51% | +5.51 |
| WDAY Workday Inc. Class A | New | 5.10% | +5.10 |
| RBRK Rubrik Inc. Class A | New | 4.98% | +4.98 |
| CWAN Clearwater Analytics HDS-A | New | 4.88% | +4.88 |
| BROS Dutch Bros Inc. Class A | New | 4.87% | +4.87 |
| CVNA Carvana Co. | New | 1.93% | +1.93 |
| IYK iShares US Consumer Staples | New | 0.71% | +0.71 |
| FWRG First Watch Restaurant Group | Add +14.8% | 4.51% | +0.50 |
| GOOG Alphabet Inc. Class C | New | 0.41% | +0.41 |
| SNPS Synopsys Inc. | New | 0.37% | +0.37 |
| FSLR First Solar Inc. | New | 0.37% | +0.37 |
| SE Sea Ltd.-ADR | New | 0.36% | +0.36 |
| PINS Pinterest Inc. Class A | New | 0.35% | +0.35 |
| FRPT Freshpet Inc. | Add +14.3% | 4.17% | −0.31 |
| MELI MercadoLibre Inc. | Add +5.0% | 5.21% | −0.31 |
| FOUR SHIFT4 Payments Inc. Class A | Add +11.5% | 5.07% | −0.72 |
| CONFLUENT INC (CFLT 0 01/15/27) | Add +3.4% | 5.04% | −1.06 |
| ACVA Acv Auctions Inc. Class A | Add +14.4% | 4.11% | −1.74 |
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 |