SEC 13F Intelligence

Managers / Q2 2026

Shearwater Capital LLC

CIK 0001905665 · 2000 S. COLORADO BLVD. TOWER 1, SUITE 2000-1148, DENVER, CO, 80222 · 314-434-4750

Reported Value
$209M
Q2 2026
Positions
65
Filings on Record
20
2019–present window
Filed
Jul 8, 2026
original filing

Summary

Shearwater Capital LLC reported $209M in U.S.-listed holdings across 65 positions for Q2 2026.

The portfolio is heavily concentrated: DFAC alone accounts for 36.3% of reported value.

Compared with Q1 2026, the fund opened 2 new positions and exited 8.

Portfolio Metrics

Turnover
+1.6%
vs prior filed quarter
Top-10 Concentration
+77.1%
share of reported value
Largest Position
+36.3%
Dimensional Etf
New / Exited
2 / 8
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’21: $116MQ4 ’21Q1 ’22: $109MQ2 ’22: $93MQ3 ’22: $89MQ3 ’22Q4 ’22: $99MQ1 ’23: $108MQ2 ’23: $114MQ2 ’23Q3 ’23: $111MQ4 ’23: $126MQ1 ’24: $136MQ1 ’24Q2 ’24: $136MQ3 ’24: $145MQ4 ’24: $147MQ4 ’24Q1 ’25: $142MQ2 ’25: $159MQ3 ’25: $169MQ3 ’25Q4 ’25: $174MQ1 ’26: $191MQ2 ’26: $209MQ2 ’26filingsflow.com

Portfolio Composition

By security type
ETP: 87.0%Common Stock: 12.9%Other: 0.2%
  • ETP · 87.0% · $182M
  • Common Stock · 12.9% · $27M
  • Other · 0.2% · $356,758

Quarter-over-Quarter Changes full breakdown →

vs Q1 2026 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
DIMENSIONAL ETF TRUSTNEW+12.2K12.2K+$428,732$428,732
SCHWAB STRATEGIC TRNEW+5.6K5.6K+$204,149$204,149
BLKBLACKROCK INCSOLD OUT−2810−$270,341$0
LMTLOCKHEED MARTIN CORPSOLD OUT−4090−$247,196$0
VANGUARD INDEX FDSSOLD OUT−7740−$222,300$0
VVISA INCSOLD OUT−7230−$218,563$0
VANGUARD WORLD FDSOLD OUT−5920−$217,601$0
VUGVANGUARD INDEX FDSSOLD OUT−4770−$208,371$0

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q2 2026

23 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1DFACDIMENSIONAL ETF TRUSTUS CORE EQUITY 2 · WORLD EX US CORE · INTERNATNAL VAL · US MKTWIDE VALUE · US TARGETED VLU · EMERGING MKTS CO · INTL CORE EQT MK · US EQUITY ETF · US SMALL CAP ETF · NATIONAL MUNICIP · INTL SMALL CAP V · INFLATION PROTE · CORE FIXED INCOM · EMGR CRE EQT MNG · US SMALL CAP VAL · GLOBAL CORE PLUS · GLOBAL REAL EST · US HIGH PROFITAB · INTL SMALL CAP E78.74%$165M3.71M
2SCHWAB STRATEGIC TRUS LRG CAP ETF · US SML CAP ETF · US MID-CAP ETF · US DIVIDEND EQ · US AGGREGATE B · US TIPS ETF · INTL EQTY ETF3.92%$8M269.6K
3BRK/BBERKSHIRE HATHAWAY INC DELCL B NEW · CL A2.86%$6M10.5K
4DOCUDOCUSIGN INChistory →COM2.41%$5M113.4K
5AMZNAMAZON COM INChistory →COM1.64%$3M14.4K
6ISHARES TRCORE S&P500 ETF · S&P 500 GRWT ETF1.53%$3M7.4K
7TSLATESLA INCCOM0.91%$2M4.5K
8STLDSTEEL DYNAMICS INCCOM0.80%$2M7.3K
9GQ9SPDR GOLD TRGOLD SHS0.75%$2M4.3K
10VANGUARD INDEX FDSS&P 500 ETF SHS · TOTAL STK MKT0.65%$1M2.7K
11NVDANVIDIA CORPORATIONCOM0.62%$1M6.5K
12GOOGALPHABET INCCAP STK CL C0.51%$1M3.0K
13AAPLAPPLE INCCOM0.34%$713,2722.5K
14AIC3 AI INCCL A0.31%$643,80870.8K
15HUMHUMANA INCCOM0.30%$630,5561.6K
16AFRMAFFIRM HLDGS INCCOM CL A0.27%$570,8507.0K
17JPMJPMORGAN CHASE & COCOM0.22%$454,6611.4K
18DEDEERE & COCOM0.21%$438,750692
19DUTMOODYS CORPCOM0.21%$436,704964
20ORCLORACLE CORPCOM0.20%$422,7862.9K
21ADBEADOBE INCCOM0.20%$413,3202.0K
22MARMARRIOTT INTL INC NEWCL A0.19%$408,3901.1K
23NDQINVESCO QQQ TRUNIT SER 10.18%$381,455518

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q2 2026$209M65Jul 8, 202613F-HRchanges · EDGAR ↗
Q1 2026$191M71Apr 9, 202613F-HRchanges · EDGAR ↗
Q4 2025$174M53Jan 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$169M50Oct 16, 202513F-HRchanges · EDGAR ↗
Q2 2025$159M50Jul 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$142M45Apr 8, 2025RESTATEMENTchanges · EDGAR ↗
Q4 2024$147M45Jan 8, 202513F-HRchanges · EDGAR ↗
Q3 2024$145M47Oct 8, 202413F-HRchanges · EDGAR ↗
Q2 2024$136M43Jul 10, 202413F-HRchanges · EDGAR ↗
Q1 2024$136M43Apr 4, 202413F-HRchanges · EDGAR ↗
Q4 2023$126M42Jan 17, 202413F-HRchanges · EDGAR ↗
Q3 2023$111M38Oct 18, 202313F-HRchanges · EDGAR ↗
Q2 2023$114M38Jul 5, 202313F-HRchanges · EDGAR ↗
Q1 2023$108M38Apr 3, 202313F-HRchanges · EDGAR ↗
Q4 2022$99M38Jan 20, 202313F-HRchanges · EDGAR ↗
Q3 2022$89M35Oct 25, 202213F-HRchanges · EDGAR ↗
Q2 2022$93M36Jul 18, 202213F-HRchanges · EDGAR ↗
Q1 2022$109M38Apr 27, 202213F-HRchanges · EDGAR ↗
Q4 2021$116M37Jan 26, 202213F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.