Headwater Capital Co Ltd
SEC Form 13F institutional filer · CIK 0002036346
13F-HR · 8 reported holdings · 2026-03-31
Reported long-US-equity value
$0.42B
Top-10 concentration
100.0%
Headwater Capital Co Ltd — $421M AUM allocation strategy
Headwater Capital Co Ltd files SEC Form 13F and reports $421M of long US equity value across 8 reported holdings for 2026-03-31.
Its largest sector bet is Communication Services 61.5%, followed by Information Technology 25.0% and Consumer Discretionary 7.5%.
The top 10 holdings account for 100% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
Headwater Capital Co Ltd — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$421M
total across 8 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
100% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$NVDA +215K sh · +$36.3M+$META +153K sh · −$668K+$GOOG +130K sh · −$27.8M
Exited to nil (held last quarter, gone now)
$AMZN ($94M last qtr)$MAR ($13M last qtr)$AAPL ($9.43M last qtr)$URI ($2.06M last qtr)
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Interactive Media & Services61.5%—
- Semiconductors21.6%—
- Specialized Consumer Services7.5%—
- Investment Banking & Brokerage6.0%—
- Communications Equipment3.3%—
- Other holdings0.1%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
8 of 8 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $META | Meta Platforms Inc | 189K | $108M | +153K | 25.7% |
| $GOOGL | Alphabet Inc | 295K | $84.6M | -177K | 20.1% |
| $GOOG | Alphabet Inc. Class C Capital Stock | 230K | $66.1M | +130K | 15.7% |
| $NVDA | NVIDIA Corporation | 315K | $54.9M | +215K | 13.0% |
| $MU | Micron Technology Inc | 107K | $36.1M | +29K | 8.6% |
| $DASH | DoorDash Inc | 210K | $31.5M | — | 7.5% |
| $HOOD | Robinhood Markets Inc | 367K | $25.4M | — | 6.0% |
| $LITE | Lumentum Holdings Inc | 20K | $14.1M | -10K | 3.3% |
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
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How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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