# EDGAR Filing Document

**Accession Number:** 0001964171
**File Stem:** 0001172661-26-000610
**Filing Date:** 2026-2
**Character Count:** 8282
**Document Hash:** f03ec08099dbb3a7a46472de3427caa2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-26-000610.hdr.sgml**: 20260211

**ACCESSION NUMBER**: 0001172661-26-000610

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260211

**DATE AS OF CHANGE**: 20260211

**EFFECTIVENESS DATE**: 20260211

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DEEPWATER ASSET MANAGEMENT, LLC
- **CENTRAL INDEX KEY:** 0001964171

**ORGANIZATION NAME:**
- **EIN:** 820677725
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-22806
- **FILM NUMBER:** 26619099

**BUSINESS ADDRESS:**
- **STREET 1:** 21 N. THIRD STREET
- **STREET 2:** #250
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55401
- **BUSINESS PHONE:** 3302777888

**MAIL ADDRESS:**
- **STREET 1:** 21 N. THIRD STREET
- **STREET 2:** #250
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55401

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Loup Funds, LLC
- **DATE OF NAME CHANGE:** 20230131

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** DEEPWATER ASSET MANAGEMENT LLC<br>**Address:** 21 N. THIRD STREET

#250<br>Minneapolis, MN 55401

**Form 13F File Number:** 028-22806

**CRD Number (if applicable):** 000316507

**SEC File Number (if applicable):** 801-126301

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Andrew Murphy<br>**Title:** Partner<br>**Phone:** 612-865-0578

**Signature, Place, and Date of Signing:**

/s/ Andrew Murphy  Minneapolis, MN  02-11-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 46

**Form 13F Information Table Value Total:** $343312068

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| AEROVIRONMENT INC | COM | 008073108 |  | 6986993 | 28885 | SH |  | SOLE |  | 28885 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 1617639 | 5155 | SH |  | SOLE |  | 5155 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 724313 | 3138 | SH |  | SOLE |  | 3138 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 980055 | 3605 | SH |  | SOLE |  | 3605 | 0 | 0 |
| APPLOVIN CORP | COM CL A | 03831W108 |  | 16648071 | 24707 | SH |  | SOLE |  | 24707 | 0 | 0 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 4632494 | 4330 | SH |  | SOLE |  | 4330 | 0 | 0 |
| ASTERA LABS INC | COM | 04626A103 |  | 8555562 | 51428 | SH |  | SOLE |  | 51428 | 0 | 0 |
| ATLASSIAN CORPORATION | CL A | 049468101 |  | 14781007 | 91162 | SH |  | SOLE |  | 91162 | 0 | 0 |
| AXON ENTERPRISE INC | COM | 05464C101 |  | 4983018 | 8774 | SH |  | SOLE |  | 8774 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 1502766 | 4342 | SH |  | SOLE |  | 4342 | 0 | 0 |
| CAMECO CORP | COM | 13321L108 |  | 4884651 | 53390 | SH |  | SOLE |  | 53390 | 0 | 0 |
| CARVANA CO | CL A | 146869102 |  | 11343476 | 26879 | SH |  | SOLE |  | 26879 | 0 | 0 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 4698212 | 24169 | SH |  | SOLE |  | 24169 | 0 | 0 |
| COHERENT CORP | COM | 19247G107 |  | 4819492 | 26112 | SH |  | SOLE |  | 26112 | 0 | 0 |
| CONFLUENT INC | CLASS A COM | 20717M103 |  | 12405083 | 410221 | SH |  | SOLE |  | 410221 | 0 | 0 |
| COREWEAVE INC | COM CL A | 21873S108 |  | 788354 | 11009 | SH |  | SOLE |  | 11009 | 0 | 0 |
| DATADOG INC | CL A COM | 23804L103 |  | 4277837 | 31457 | SH |  | SOLE |  | 31457 | 0 | 0 |
| DUTCH BROS INC | CL A | 26701L100 |  | 10964869 | 179106 | SH |  | SOLE |  | 179106 | 0 | 0 |
| FIRST SOLAR INC | COM | 336433107 |  | 6563665 | 25126 | SH |  | SOLE |  | 25126 | 0 | 0 |
| FIRST WATCH RESTAURANT GROUP | COM | 33748L101 |  | 8688584 | 576166 | SH |  | SOLE |  | 576166 | 0 | 0 |
| FRESHPET INC | COM | 358039105 |  | 9675197 | 158792 | SH |  | SOLE |  | 158792 | 0 | 0 |
| GITLAB INC | CLASS A COM | 37637K108 |  | 4661864 | 124217 | SH |  | SOLE |  | 124217 | 0 | 0 |
| GLOBAL E ONLINE LTD | SHS | M5216V106 |  | 15411997 | 392063 | SH |  | SOLE |  | 392063 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 14277936 | 25210 | SH |  | SOLE |  | 25210 | 0 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 5104930 | 29822 | SH |  | SOLE |  | 29822 | 0 | 0 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 15640729 | 7765 | SH |  | SOLE |  | 7765 | 0 | 0 |
| MERCURY SYS INC | COM | 589378108 |  | 4925328 | 67461 | SH |  | SOLE |  | 67461 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 11007001 | 16675 | SH |  | SOLE |  | 16675 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 2056379 | 7205 | SH |  | SOLE |  | 7205 | 0 | 0 |
| NATERA INC | COM | 632307104 |  | 9082273 | 39645 | SH |  | SOLE |  | 39645 | 0 | 0 |
| NU HLDGS LTD | ORD SHS CL A | G6683N103 |  | 16704679 | 997890 | SH |  | SOLE |  | 997890 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 1716173 | 9202 | SH |  | SOLE |  | 9202 | 0 | 0 |
| REDDIT INC | CL A | 75734B100 |  | 16126070 | 70153 | SH |  | SOLE |  | 70153 | 0 | 0 |
| ROBLOX CORP | CL A | 771049103 |  | 6712606 | 82841 | SH |  | SOLE |  | 82841 | 0 | 0 |
| RUBRIK INC. | CL A | 781154109 |  | 12519776 | 163700 | SH |  | SOLE |  | 163700 | 0 | 0 |
| SEA LTD | SPONSORD ADS | 81141R100 |  | 1558778 | 12219 | SH |  | SOLE |  | 12219 | 0 | 0 |
| SHIFT4 PMTS INC | CL A | 82452J109 |  | 12985484 | 206217 | SH |  | SOLE |  | 206217 | 0 | 0 |
| SNOWFLAKE INC | COM SHS | 833445109 |  | 4725014 | 21540 | SH |  | SOLE |  | 21540 | 0 | 0 |
| STERLING INFRASTRUCTURE INC | COM | 859241101 |  | 4633260 | 15130 | SH |  | SOLE |  | 15130 | 0 | 0 |
| SYNOPSYS INC | COM | 871607107 |  | 1667976 | 3551 | SH |  | SOLE |  | 3551 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 1762866 | 5801 | SH |  | SOLE |  | 5801 | 0 | 0 |
| TAKE-TWO INTERACTIVE SOFTWAR | COM | 874054109 |  | 5024845 | 19626 | SH |  | SOLE |  | 19626 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 14835758 | 181566 | SH |  | SOLE |  | 181566 | 0 | 0 |
| VERTIV HOLDINGS CO | COM CL A | 92537N108 |  | 5596473 | 34544 | SH |  | SOLE |  | 34544 | 0 | 0 |
| VISTRA CORP | COM | 92840M102 |  | 4713256 | 29215 | SH |  | SOLE |  | 29215 | 0 | 0 |
| WORKDAY INC | CL A | 98138H101 |  | 9339279 | 43483 | SH |  | SOLE |  | 43483 | 0 | 0 |

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