Managers / Q3 2025 · view latest →
Headwater Capital Co Ltd
CIK 0002036346 · RM 6009, 60/F, CENTRAL PLAZA,, 18 HARBOUR ROAD, WANCHAI, HONG KONG, F4, 999077 · 852-92488600
Reported Value
$409M
Q3 2025
Positions
17
Filings on Record
10
2019–present window
Filed
Nov 12, 2025
original filing
Summary
Headwater Capital Co Ltd reported $409M in U.S.-listed holdings across 17 positions for Q3 2025.
The portfolio is heavily concentrated: TSM alone accounts for 21.3% of reported value.
Compared with Q2 2025, the fund opened 8 new positions and exited 4.
Reported Value by Quarter
13F Reported Value
Portfolio Composition
By security type
- Common Stock · 56.7% · $232M
- ADR · 42.8% · $175M
- Other · 0.5% · $2M
Quarter-over-Quarter Changes full breakdown →
Holdings — Q3 2025
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $622M | 15 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $481M | 17 | Feb 19, 2026 | RESTATEMENT | changes · EDGAR ↗ |
| Q3 2025 | $409M | 17 | Nov 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $288M | 13 | Aug 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025REVEALED | $442M | 19 | May 9, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $188M | 10 | Jan 13, 2025 | 13F-HR | changes · 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 ↗.