Shearwater Capital LLC

Registered adviser

CIK

1905665

Location

DENVER, CO

Portfolio Value

Small $207,661,633

Diversification

Highly concentrated

Filing Date

Global Rank

#6,250 / 8,811 ▼ 438 · as of Jun 2026

Top Industry

Software - Application 26.7%

Period ended 21 days ago

Filed Oct 13, 2026 · 8d

20 quarters · since Dec 2021

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 115399

Roster of Oct 1, 2026

Regulatory AUM

$427,265,198

Main clients

Individuals and high net worth (99% of AUM)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$427,265,198	Individuals and high net worth (99%)
Mar 2025 to Mar 2026	$348,161,272	Individuals and high net worth (98%)
Feb 2024 to Feb 2025	$306,864,566	Individuals and high net worth (98%)
May 2023 to Jan 2024	$279,763,823	Individuals and high net worth (98%)
Apr 2023	$279,763,823	Individuals and high net worth (98%)
Feb 2022 to Mar 2023	$306,023,575	Individuals and high net worth (100%)

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, the newest measured quarter, never from the firm's own description.

Style

Concentrated

The top 10 positions are 95.2% of the book (60%+)

Turnover

Low turnover

2.7% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 17.3 quarters (12+)

Closest benchmark: every 13F filer's combined book, active share 91.3%; sector active share 77.6% against the combined 13F book's sector weights.

Over time 19 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

71 tracked positions · as of Sep 30, 2026 · Δ vs Jun 30, 2026

Top Position

79.2%

−0.2 pts

Top 5

91.5%

+1.0 pts

Top 10

95.2%

−0.0 pts

HHI

6,321

Highly concentrated−23

Portfolio Trend

20 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	85.5%	$177,447,149	46
Technology	5.9%	$12,232,663	8
Financial Services	3.5%	$7,356,895	5
Consumer Cyclical	2.7%	$5,578,571	3
Basic Materials	0.8%	$1,615,758	1
Communication Services	0.6%	$1,248,755	2
Healthcare	0.5%	$961,307	2
Industrials	0.5%	$938,815	3
Energy	0.1%	$281,720	1

Last Quarter's Activity

Export CSV

Sep 30, 2026 vs Jun 30, 2026

Added To

Positions the filer increased

15 positions

Ticker	Company	Δ Shares	Shares	Value
DFEM	Dimensional Emerging Markets Core Equity 2 ETF	+12,082	106,343	$4,223,943
DISV	Dimensional International Small Cap Value ETF	+2,318	44,287	$1,917,184
DFGR	Dimensional Global Real Estate ETF	+2,128	29,973	$810,769
DFGP	Dimensional Global Core Plus Fixed Income ETF	+1,481	20,457	$1,062,250
DFSV	Dimensional US Small Cap Value ETF	+1,274	34,777	$1,303,094
DFIP	Dimensional Inflation-Protected Securities Portfolio ETF	+542	40,188	$1,569,743
ORCL	Oracle Corp	+163	3,048	$418,490
DFIS	Dimensional International Small Cap ETF	+117	12,356	$447,657
BRK-B	Berkshire Hathaway Inc	+32	10,499	$5,227,977
DFCA	Dimensional California Municipal Bond ETF	+24	4,733	$225,622
DFUS	Dimensional U.S. Equity Market ETF	+6	34,549	$2,868,603
DFSD	Dimensional Short-Duration Fixed Income ETF	+5	7,095	$329,718
IVV	iShares Core S&P 500 ETF	+3	3,567	$0
VOO	VANGUARD 500 INDEX FUND	+2	1,151	$806,689
DFAS	Dimensional U.S. Small Cap ETF	+1	23,473	$1,817,279
No positions match the current search.

Trimmed

Positions the filer reduced

15 positions

Ticker	Company	Δ Shares	Shares	Value
DFAC	Dimensional U.S. Core Equity 2 ETF	−39,325	1,674,031	$74,410,677
DFAX	Dimensional World ex. U.S. Core Equity 2 ETF	−27,993	892,777	$33,050,604
SCHZ	Schwab U.S. Aggregate Bond ETF	−10,621	31,168	$688,812
DFNM	Dimensional National Municipal Bond ETF	−3,892	35,899	$1,652,430
DFIV	Dimensional International Value ETF	−1,467	341,011	$19,048,874
DFAT	Dimensional U.S. Targeted Value ETF	−1,157	80,954	$5,378,583
DFCF	Dimensional Core Fixed Income ETF	−1,067	32,921	$1,320,790
DFUV	Dimensional U.S. Marketwide Value ETF	−1,047	122,194	$6,720,670
SCHF	Schwab International Equity ETF	−752	12,576	$345,462
DFAE	Dimensional Emerging Core Equity Market ETF	−627	33,343	$1,310,713
DFAI	Dimensional International Core Equity Market ETF	−572	73,897	$3,061,552
DUHP	Dimensional US High Profitability ETF	−483	16,091	$674,373
SCHV	Schwab U.S. Large-Cap Value ETF	−135	9,857	$328,336
ADBE	Adobe Inc.	−96	1,920	$460,684
VTI	VANGUARD TOTAL STOCK MARKET INDEX FUND	−25	1,527	$571,464
No positions match the current search.

New Positions

Positions the filer opened this quarter

6 positions

Ticker	Company	Shares	Value
VTEB	VANGUARD TAX-EXEMPT BOND INDEX FUND	8,739	$413,879
XLK	State Street(R) Technology Select Sector SPDR(R) ETF	1,770	$346,477
DFLV	Dimensional US Large Cap Value ETF	6,503	$261,225
DFIC	Dimensional International Core Equity 2 ETF	6,885	$258,944
SPY	Spdr S&P 500 ETF Trust	285	$217,349
META	Meta Platforms, Inc.	295	$213,928
No positions match the current search.

Sold Out

Positions the filer fully exited

No qualifying positions this quarter.

Portfolio Positions

Compact Export CSV View 13F filing

71 tracked positions · $207,661,633 total · filing declares 71 positions · $211,167,926 · as of Sep 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Energy Financial Services Healthcare Industrials Technology

Showing 1–50 of 71 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
DFAC	Dimensional U.S. Core Equity 2 ETF	Reduced	1,674,031	-39,325	$74,410,677	−2.1%	35.83%
DFAX	Dimensional World ex. U.S. Core Equity 2 ETF	Reduced	892,777	-27,993	$33,050,604	−2.6%	15.92%
DFIV	Dimensional International Value ETF	Reduced	341,011	-1,467	$19,048,874	+3.0%	9.17%
DOCU	Docusign, Inc. Technology	Held	113,428	0	$7,616,690	+51.2%	3.67%
DFUV	Dimensional U.S. Marketwide Value ETF	Reduced	122,194	-1,047	$6,720,670	−0.9%	3.24%
DFAT	Dimensional U.S. Targeted Value ETF	Reduced	80,954	-1,157	$5,378,583	−6.3%	2.59%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	10,499	+32	$5,227,977	−0.2%	2.52%
DFEM	Dimensional Emerging Markets Core Equity 2 ETF	Added	106,343	+12,082	$4,223,943	+10.3%	2.03%
AMZN	Amazon Com Inc Consumer Cyclical	Held	14,379	0	$3,582,527	+4.5%	1.73%
DFAI	Dimensional International Core Equity Market ETF	Reduced	73,897	-572	$3,061,552	−0.3%	1.47%
DFUS	Dimensional U.S. Equity Market ETF	Added	34,549	+6	$2,868,603	+1.3%	1.38%
SCHX	Schwab U.S. Large-Cap ETF	Held	77,331	0	$2,319,930	+1.9%	1.12%
DISV	Dimensional International Small Cap Value ETF	Added	44,287	+2,318	$1,917,184	+13.8%	0.92%
DFAS	Dimensional U.S. Small Cap ETF	Added	23,473	+1	$1,817,279	−6.0%	0.88%
DFNM	Dimensional National Municipal Bond ETF	Reduced	35,899	-3,892	$1,652,430	−14.1%	0.80%
GLD	Spdr Gold Trust	Held	4,278	0	$1,629,233	+3.4%	0.78%
STLD	Steel Dynamics Inc Basic Materials	Held	7,291	0	$1,615,758	−3.4%	0.78%
TSLA	Tesla, Inc. Consumer Cyclical	Held	4,521	0	$1,604,096	−15.6%	0.77%
DFIP	Dimensional Inflation-Protected Securities Portfolio ETF	Added	40,188	+542	$1,569,743	−4.0%	0.76%
NVDA	Nvidia Corp Technology	Held	6,471	0	$1,477,846	+14.1%	0.71%
DFCF	Dimensional Core Fixed Income ETF	Reduced	32,921	-1,067	$1,320,790	−7.9%	0.64%
DFAE	Dimensional Emerging Core Equity Market ETF	Reduced	33,343	-627	$1,310,713	−4.0%	0.63%
DFSV	Dimensional US Small Cap Value ETF	Added	34,777	+1,274	$1,303,094	+0.3%	0.63%
SCHD	Schwab U.S. Dividend Equity ETF	Held	39,910	0	$1,298,272	+2.6%	0.63%
SCHA	Schwab U.S. Small-Cap ETF	Held	39,703	0	$1,295,508	−9.7%	0.62%
SCHM	Schwab U.S. Mid-Cap ETF	Held	36,275	0	$1,234,075	−7.7%	0.59%
DFGP	Dimensional Global Core Plus Fixed Income ETF	Added	20,457	+1,481	$1,062,250	+2.8%	0.51%
GOOG	Alphabet Inc. Communication Services	Held	3,037	0	$1,034,827	−3.6%	0.50%
AAPL	Apple Inc. Technology	Held	2,465	0	$820,894	+15.1%	0.40%
DFGR	Dimensional Global Real Estate ETF	Added	29,973	+2,128	$810,769	+0.5%	0.39%
VOO	VANGUARD 500 INDEX FUND	Added	1,151	+2	$806,689	+2.2%	0.39%
AI	C3.ai, Inc. Technology	Held	70,826	0	$778,377	+20.9%	0.37%
BRK-A	Berkshire Hathaway Inc Financial Services	Held	1	0	$747,005	−0.2%	0.36%
SCHZ	Schwab U.S. Aggregate Bond ETF	Reduced	31,168	-10,621	$688,812	−28.7%	0.33%
DUHP	Dimensional US High Profitability ETF	Reduced	16,091	-483	$674,373	−2.5%	0.32%
HUM	Humana Inc Healthcare	Held	1,587	0	$605,551	−3.9%	0.29%
VTI	VANGUARD TOTAL STOCK MARKET INDEX FUND	Reduced	1,527	-25	$571,464	−0.5%	0.28%
SCHP	Schwab U.S. TIPS ETF	Held	21,290	0	$535,017	−5.2%	0.26%
AFRM	Affirm Holdings, Inc. Financial Services	Held	7,000	0	$484,610	−15.1%	0.23%
DE	Deere & Co Industrials	Held	692	0	$464,712	+5.9%	0.22%
ADBE	Adobe Inc. Technology	Reduced	1,920	-96	$460,684	+11.5%	0.22%
JPM	Jpmorgan Chase & Co Financial Services	Held	1,389	0	$459,522	+1.1%	0.22%
DFIS	Dimensional International Small Cap ETF	Added	12,356	+117	$447,657	+4.4%	0.22%
MCO	Moodys Corp /De/ Financial Services	Held	964	0	$437,781	+0.3%	0.21%
ORCL	Oracle Corp Technology	Added	3,048	+163	$418,490	−1.0%	0.20%
VTEB	VANGUARD TAX-EXEMPT BOND INDEX FUND	NEW	8,739	NEW	$413,879	NEW	0.20%
MAR	Marriott International Inc /Md/ Consumer Cyclical	Held	1,102	0	$391,948	−4.0%	0.19%
QQQ	Invesco Qqq Trust, Series 1	Held	518	0	$383,200	+0.5%	0.18%
NET	Cloudflare, Inc. Technology	Held	1,040	0	$361,171	+41.6%	0.17%
STE	STERIS plc Healthcare	Held	1,694	0	$355,756	−0.3%	0.17%

Showing the top 50 of 71 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.