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Headwater Capital Co Ltd

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13F filer, CIK 2036346, HONG KONG, China

Headwater Capital Co Ltd reported $288,176,685 across 13 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-12. Its ten largest share positions make up 97.08% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0002036346-25-000007

Period
2025-06-30
Reported value
$288M
Holdings
13
Top 10 weight
97.08%
New
7
Sold out
4

Largest buys vs the previous quarter

SecurityShares changeApprox. value
MSFTnew+50,000$24.9M
MARnew+80,000$21.9M
GOOGnew+100,000$17.7M
TSMadded+60,000$13.6M
LULUnew+53,000$12.6M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
METAreduced-50,000-$36.9M
NVDAexited-100,000-$10.8M
FUTUexited-100,000-$10.2M
INTCexited-300,000-$6.81M
TCOMreduced-100,000-$5.86M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0002036346-25-000007, largest first. % of portfolio is the value over $285,688,721, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 38,000 shares; 2025Q1: 150,000 shares; 2025Q2: 100,000 shares 100,000$73.8M25.84%-50,000Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 250,000 shares; 2025Q1: 220,000 shares; 2025Q2: 280,000 shares 280,000$63.4M22.2%+60,000Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 38,000 shares; 2025Q1: not reported; 2025Q2: 50,000 shares 50,000$24.9M8.71%newTimeline
TCOMTRIP COM GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 200,000 shares; 2025Q1: 500,000 shares; 2025Q2: 400,000 shares 400,000$23.5M8.21%-100,000Timeline
MARMARRIOTT INTL INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 80,000 shares 80,000$21.9M7.65%newTimeline
PDDPDD HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 100,000 shares; 2025Q1: 200,000 shares; 2025Q2: 200,000 shares 200,000$20.9M7.33%0Timeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 120,000 shares; 2025Q1: not reported; 2025Q2: 100,000 shares 100,000$17.7M6.21%newTimeline
LULULULULEMON ATHLETICA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 53,000 shares 53,000$12.6M4.41%newTimeline
YUMCYUM CHINA HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 219,550 shares 219,550$9.82M3.44%newTimeline
BEKEKE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 600,000 shares; 2025Q1: 500,000 shares; 2025Q2: 500,000 shares 500,000$8.87M3.1%0Timeline
GOOSCANADA GOOSE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 660,000 shares 660,000$7.39M2.59%newTimeline
OPRAOPERA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 50,000 shares 50,000$945K0.33%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
INVESCO QQQ TRINVESCO QQQ TR PUTput2,520$2.49M+1,520

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
NVDANVIDIA CORPORATION100,000$10.8Mshares
FUTUFUTU HLDGS LTD100,000$10.2Mshares
INTCINTEL CORP300,000$6.81Mshares
HIMXHIMAX TECHNOLOGIES INC500,000$3.67Mshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0002036346-25-000007 base2025-08-12acceptance time not in the bulk data set