Shearwater Capital LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 8, 2025), Shearwater Capital LLC reported 45 stock positions worth $142.3 million. Its top holding was Dimensional US Core Equity 2 (DFAC) at 38.3% of the portfolio, followed by Dimensional World Ex US Core (DFAX, 14.9%) and Dimensional International Va (DFIV, 9.8%). Compared with Q4 2024, it opened 2 new positions, sold out of 2, added to 8 and reduced 11. The biggest buy was Dimensional World Ex US Core (DFAX, shares +1%) and the biggest sale Dimensional US Core Equity 2 (DFAC, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- DENVER, CO
- CIK
- 0001905665
- Portfolio Value
- $142.3M (Q1 2025)
- SEC Filing
- 0001905665-25-000004 ↗ filed Apr 8, 2025
Holdings Value
Holdings 45 stocks · $142.3M
| DFAC Dimensional US Core Equity 2 | 38.35% | 1,654,632 | $54.6M | Reduce -2.3% |
| DFAX Dimensional World Ex US Core | 14.92% | 810,617 | $21.2M | Add +0.7% |
| DFIV Dimensional International Va | 9.84% | 355,955 | $14.0M | Reduce -0.3% |
| DOCU Docusign Inc. | 6.54% | 114,428 | $9.3M | No change |
| DFUV Dimensional US Marketwide Va | 4.19% | 144,613 | $6.0M | Reduce -0.0% |
| DFAT Dimensional US Target Value | 3.02% | 83,460 | $4.3M | Reduce -1.1% |
| AMZN Amazon.com Inc. | 1.91% | 14,319 | $2.7M | No change |
| DFAI Dimensional International Co. | 1.81% | 82,599 | $2.6M | Reduce -0.5% |
| DFUS Dimensional US Eq MKT ETF | 1.52% | 35,724 | $2.2M | Add +11.8% |
| DFEM Dimensional Emrg MRKT Core | 1.47% | 78,942 | $2.1M | Reduce -3.1% |
| DFNM Dimensional National Muni BD | 1.30% | 38,975 | $1.9M | Add +5.4% |
| DFIP Dimensional Inflation-Protec | 1.16% | 39,374 | $1.7M | Add +1.6% |
| DFCF Dimensional Core Fixed Inc. | 1.02% | 34,386 | $1.4M | Add +0.0% |
| AI C3.AI Inc. Class A | 0.99% | 67,276 | $1.4M | No change |
| DFAS Dimensional US Small Cap ETF | 0.99% | 23,576 | $1.4M | Reduce -1.6% |
| GLD SPDR Gold Shares | 0.87% | 4,285 | $1.2M | Reduce -4.0% |
| TSLA Tesla Inc. | 0.82% | 4,521 | $1.2M | No change |
| SCHZ Schwab US Aggregate Bond ETF | 0.68% | 41,789 | $968K | No change |
| STLD Steel Dynamics Inc. | 0.64% | 7,291 | $912K | No change |
| DFAE Dimensional Emerging Core Eq | 0.63% | 34,785 | $901K | Reduce -3.0% |
| IVV iShares Core S&P 500 ETF | 0.57% | 1,433 | $805K | Reduce -0.6% |
| DISV Dimensional International SM | 0.54% | 26,153 | $762K | Add +8.2% |
| ADBE Adobe Inc. | 0.52% | 1,920 | $736K | No change |
| NVDA Nvidia Corp. | 0.41% | 5,415 | $587K | No change |
| SCHP Schwab U.S. Tips ETF | 0.40% | 21,290 | $572K | No change |
| AAPL Apple Inc. | 0.38% | 2,465 | $548K | No change |
| DFSV Dimensional US Small Cap Val | 0.34% | 17,447 | $491K | Add +5.7% |
| GOOG Alphabet Inc. Class C | 0.33% | 3,040 | $475K | No change |
| MCO Moody's Corp. | 0.32% | 964 | $449K | No change |
| HUM Humana Inc. | 0.30% | 1,587 | $420K | No change |
| DFSD Dimensional Short Duration | 0.29% | 8,570 | $407K | No change |
| STE Steris PLC | 0.27% | 1,694 | $384K | No change |
| DFGR Dim Global Real Estate ETF | 0.27% | 14,495 | $381K | Add +3.8% |
| DFAU Dimensional US Core Equity M | 0.26% | 9,506 | $365K | No change |
| ORCL Oracle Corp. | 0.25% | 2,585 | $361K | No change |
| IVW iShares S&P 500 Growth ETF | 0.25% | 3,830 | $356K | Reduce -3.2% |
| DE Deere & Co. | 0.23% | 692 | $325K | No change |
| AFRM Affirm Holdings Inc. | 0.22% | 7,000 | $316K | No change |
| SCHV Schwab US Large-Cap Value | 0.19% | 9,992 | $266K | No change |
| SCHF Schwab Intl Equity ETF | 0.19% | 13,328 | $264K | No change |
| MAR Marriott International Class A | 0.18% | 1,102 | $262K | No change |
| QQQ Invesco QQQ Trust Series 1 | 0.17% | 505 | $237K | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.16% | 438 | $233K | New |
| XOM Exxon Mobil Corp. | 0.14% | 1,731 | $206K | New |
| VTI VG Morningstar TS MKT ETF-US | 0.14% | 747 | $205K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| DFAC Dimensional US Core Equity 2 | Reduce -2.3% | 38.35% | −1.40 |
| DUHP Dimensional US High Profi Et | Sold out | 0.00% | −0.28 |
| DFGP Dimensional GLBL Core PL Fix | Sold out | 0.00% | −0.21 |
| DFAT Dimensional US Target Value | Reduce -1.1% | 3.02% | −0.17 |
| DFAS Dimensional US Small Cap ETF | Reduce -1.6% | 0.99% | −0.07 |
| IVW iShares S&P 500 Growth ETF | Reduce -3.2% | 0.25% | −0.02 |
| IVV iShares Core S&P 500 ETF | Reduce -0.6% | 0.57% | −0.01 |
| DFAE Dimensional Emerging Core Eq | Reduce -3.0% | 0.63% | +0.02 |
| DFEM Dimensional Emrg MRKT Core | Reduce -3.1% | 1.47% | +0.02 |
| GLD SPDR Gold Shares | Reduce -4.0% | 0.87% | +0.13 |
| DFAI Dimensional International Co. | Reduce -0.5% | 1.81% | +0.17 |
| DFUV Dimensional US Marketwide Va | Reduce -0.0% | 4.19% | +0.17 |
| DFIV Dimensional International Va | Reduce -0.3% | 9.84% | +1.25 |
Portfolio Buys Q4 2024 → Q1 2025
| DFAX Dimensional World Ex US Core | Add +0.7% | 14.92% | +1.34 |
| BRK.B Berkshire Hathaway Inc. Class B | New | 0.16% | +0.16 |
| XOM Exxon Mobil Corp. | New | 0.14% | +0.14 |
| DFUS Dimensional US Eq MKT ETF | Add +11.8% | 1.52% | +0.14 |
| DFNM Dimensional National Muni BD | Add +5.4% | 1.30% | +0.10 |
| DFIP Dimensional Inflation-Protec | Add +1.6% | 1.16% | +0.10 |
| DISV Dimensional International SM | Add +8.2% | 0.54% | +0.10 |
| DFCF Dimensional Core Fixed Inc. | Add +0.0% | 1.02% | +0.05 |
| DFGR Dim Global Real Estate ETF | Add +3.8% | 0.27% | +0.03 |
| DFSV Dimensional US Small Cap Val | Add +5.7% | 0.34% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 65 | $209.4M | DFAC, DFAX, DFIV, DFUV, DFAT |
| Q1 2026 | 71 | $190.7M | DFAC, DFAX, DFIV, DFUV, DOCU |
| Q4 2025 | 53 | $174.2M | DFAC, DFAX, DFIV, DOCU, DFUV |
| Q3 2025 | 50 | $168.5M | DFAC, DFAX, DFIV, DOCU, DFUV |
| Q2 2025 | 50 | $159.0M | DFAC, DFAX, DFIV, DOCU, DFUV |
| Q1 2025Amended | 45 | $142.3M | DFAC, DFAX, DFIV, DOCU, DFUV |
| Q4 2024 | 45 | $147.4M | DFAC, DFAX, DFIV, DOCU, DFUV |
| Q3 2024 | 47 | $145.0M | DFAC, DFAX, DFIV, DOCU, DFUV |
| Q2 2024 | 43 | $136.1M | DFAC, DFAX, DFIV, DOCU, DFUV |
| Q1 2024 | 43 | $135.7M | DFAC, DFAX, DFIV, DOCU, DFUV |