# Shearwater Capital LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1905665. Source: https://holderbook.com/funds/1905665-shearwater-capital-llc/

- Reported value: $209.4M
- Positions: 65
- Weight of the ten largest: 77.1%
- Filed: 2026-07-08

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| DIMENSIONAL ETF TRUST | [DFAC](https://holderbook.com/stocks/DFAC/) | $76.0M | 1,713,356 | 36.3% | 19 |
| DIMENSIONAL ETF TRUST | [DFAX](https://holderbook.com/stocks/DFAX/) | $33.9M | 920,770 | 16.2% | 19 |
| DIMENSIONAL ETF TRUST | [DFIV](https://holderbook.com/stocks/DFIV/) | $18.5M | 342,478 | 8.8% | 19 |
| DIMENSIONAL ETF TRUST | [DFUV](https://holderbook.com/stocks/DFUV/) | $6.8M | 123,241 | 3.2% | 17 |
| DIMENSIONAL ETF TRUST | [DFAT](https://holderbook.com/stocks/DFAT/) | $5.7M | 82,111 | 2.7% | 19 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $5.2M | 10,467 | 2.5% | 6 |
| DOCUSIGN INC | [DOCU](https://holderbook.com/stocks/DOCU/) | $5.0M | 113,428 | 2.4% | 19 |
| DIMENSIONAL ETF TRUST | [DFEM](https://holderbook.com/stocks/DFEM/) | $3.8M | 94,261 | 1.8% | 16 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $3.4M | 14,379 | 1.6% | 19 |
| DIMENSIONAL ETF TRUST | [DFAI](https://holderbook.com/stocks/DFAI/) | $3.1M | 74,469 | 1.5% | 19 |
| DIMENSIONAL ETF TRUST | [DFUS](https://holderbook.com/stocks/DFUS/) | $2.8M | 34,543 | 1.4% | 19 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $2.7M | 3,564 | 1.3% | 19 |
| SCHWAB STRATEGIC TR | [SCHX](https://holderbook.com/stocks/SCHX/) | $2.3M | 77,331 | 1.1% | 2 |
| DIMENSIONAL ETF TRUST | [DFAS](https://holderbook.com/stocks/DFAS/) | $1.9M | 23,472 | 0.9% | 19 |
| DIMENSIONAL ETF TRUST | [DFNM](https://holderbook.com/stocks/DFNM/) | $1.9M | 39,791 | 0.9% | 19 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $1.9M | 4,521 | 0.9% | 19 |
| DIMENSIONAL ETF TRUST | [DISV](https://holderbook.com/stocks/DISV/) | $1.7M | 41,969 | 0.8% | 15 |
| STEEL DYNAMICS INC | [STLD](https://holderbook.com/stocks/STLD/) | $1.7M | 7,291 | 0.8% | 19 |
| DIMENSIONAL ETF TRUST | [DFIP](https://holderbook.com/stocks/DFIP/) | $1.6M | 39,646 | 0.8% | 19 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $1.6M | 4,278 | 0.8% | 19 |
| DIMENSIONAL ETF TRUST | [DFCF](https://holderbook.com/stocks/DFCF/) | $1.4M | 33,988 | 0.7% | 18 |
| SCHWAB STRATEGIC TR | [SCHA](https://holderbook.com/stocks/SCHA/) | $1.4M | 39,703 | 0.7% | 2 |
| DIMENSIONAL ETF TRUST | [DFAE](https://holderbook.com/stocks/DFAE/) | $1.4M | 33,970 | 0.7% | 19 |
| SCHWAB STRATEGIC TR | [SCHM](https://holderbook.com/stocks/SCHM/) | $1.3M | 36,275 | 0.6% | 2 |
| DIMENSIONAL ETF TRUST | [DFSV](https://holderbook.com/stocks/DFSV/) | $1.3M | 33,503 | 0.6% | 15 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $1.3M | 6,471 | 0.6% | 14 |
| SCHWAB STRATEGIC TR | [SCHD](https://holderbook.com/stocks/SCHD/) | $1.3M | 39,910 | 0.6% | 2 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $1.1M | 3,037 | 0.5% | 19 |
| DIMENSIONAL ETF TRUST | [DFGP](https://holderbook.com/stocks/DFGP/) | $1.0M | 18,976 | 0.5% | 5 |
| SCHWAB STRATEGIC TR | [SCHZ](https://holderbook.com/stocks/SCHZ/) | $966.6K | 41,789 | 0.5% | 19 |
| DIMENSIONAL ETF TRUST | [DFGR](https://holderbook.com/stocks/DFGR/) | $806.7K | 27,845 | 0.4% | 11 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $789.1K | 1,149 | 0.4% | 3 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $748.9K | 1 | 0.4% | 2 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $713.3K | 2,465 | 0.3% | 14 |
| DIMENSIONAL ETF TRUST | [DUHP](https://holderbook.com/stocks/DUHP/) | $691.6K | 16,574 | 0.3% | 5 |
| C3 AI INC | [AI](https://holderbook.com/stocks/AI/) | $643.8K | 70,826 | 0.3% | 19 |
| HUMANA INC | [HUM](https://holderbook.com/stocks/HUM/) | $630.6K | 1,587 | 0.3% | 19 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $574.4K | 1,552 | 0.3% | 8 |
| AFFIRM HLDGS INC | [AFRM](https://holderbook.com/stocks/AFRM/) | $570.9K | 7,000 | 0.3% | 11 |
| SCHWAB STRATEGIC TR | [SCHP](https://holderbook.com/stocks/SCHP/) | $564.2K | 21,290 | 0.3% | 19 |
| ISHARES TR | [IVW](https://holderbook.com/stocks/IVW/) | $526.7K | 3,830 | 0.3% | 19 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $454.7K | 1,389 | 0.2% | 2 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $438.8K | 692 | 0.2% | 19 |
| MOODYS CORP | [MCO](https://holderbook.com/stocks/MCO/) | $436.7K | 964 | 0.2% | 19 |
| DIMENSIONAL ETF TRUST | [DFIS](https://holderbook.com/stocks/DFIS/) | $428.7K | 12,239 | 0.2% | 1 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $422.8K | 2,885 | 0.2% | 14 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $413.3K | 2,016 | 0.2% | 19 |
| MARRIOTT INTL INC NEW | [MAR](https://holderbook.com/stocks/MAR/) | $408.4K | 1,102 | 0.2% | 11 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $381.5K | 518 | 0.2% | 11 |
| SCHWAB STRATEGIC TR | [SCHF](https://holderbook.com/stocks/SCHF/) | $369.2K | 13,328 | 0.2% | 19 |
| STERIS PLC | [STE](https://holderbook.com/stocks/STE/) | $356.8K | 1,694 | 0.2% | 19 |
| CUMMINS INC | [CMI](https://holderbook.com/stocks/CMI/) | $356.6K | 500 | 0.2% | 2 |
| SELECT SECTOR SPDR TR | [XLI](https://holderbook.com/stocks/XLI/) | $351.2K | 1,896 | 0.2% | 2 |
| SCHWAB STRATEGIC TR | [SCHV](https://holderbook.com/stocks/SCHV/) | $347.8K | 9,992 | 0.2% | 19 |
| DIMENSIONAL ETF TRUST | [DFSD](https://holderbook.com/stocks/DFSD/) | $338.6K | 7,090 | 0.2% | 19 |
| DIMENSIONAL ETF TRUST | [DFAU](https://holderbook.com/stocks/DFAU/) | $321.8K | 6,225 | 0.2% | 19 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $321.1K | 850 | 0.2% | 5 |
| CLOUDFLARE INC | [NET](https://holderbook.com/stocks/NET/) | $255.1K | 1,040 | 0.1% | 5 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $251.1K | 1,160 | 0.1% | 2 |
| DIMENSIONAL ETF TRUST | [DIHP](https://holderbook.com/stocks/DIHP/) | $238.1K | 6,978 | 0.1% | 5 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $236.7K | 1,731 | 0.1% | 3 |
| DIMENSIONAL ETF TRUST | [DFCA](https://holderbook.com/stocks/DFCA/) | $236.3K | 4,709 | 0.1% | 2 |
| DIMENSIONAL ETF TRUST | [DFEV](https://holderbook.com/stocks/DFEV/) | $226.7K | 5,314 | 0.1% | 5 |
| ISHARES TR | [EFV](https://holderbook.com/stocks/EFV/) | $221.8K | 2,898 | 0.1% | 3 |
| SCHWAB STRATEGIC TR | [SCHE](https://holderbook.com/stocks/SCHE/) | $204.1K | 5,630 | 0.1% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +10.3% | +14.8% | -4.5% | 100% |
| Q1 2026 | -1.5% | -4.6% | +3.1% | 100% |
| Q4 2025 | +3.0% | +2.4% | +0.6% | 100% |
| Q3 2025 | +6.2% | +7.8% | -1.6% | 100% |
| Q2 2025 | +8.1% | +10.5% | -2.3% | 100% |
| Q1 2025 | -2.6% | -4.6% | +2.0% | 100% |
| Q4 2024 | +1.4% | +2.1% | -0.8% | 100% |
| Q3 2024 | +6.0% | +5.4% | +0.6% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $209.4M | 65 |
| Q1 2026 | $190.7M | 71 |
| Q4 2025 | $174.2M | 53 |
| Q3 2025 | $168.5M | 50 |
| Q2 2025 | $159.0M | 50 |
| Q1 2025 | $142.3M | 45 |
| Q4 2024 | $147.4M | 45 |
| Q3 2024 | $145.0M | 47 |
| Q2 2024 | $136.1M | 43 |
| Q1 2024 | $135.7M | 43 |
| Q4 2023 | $125.9M | 42 |
| Q3 2023 | $110.6M | 38 |