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NZS Capital Portfolio holdings

AUM $3B
1-Year Est. Return 21.29%
This Fund
S&P 500
This Quarter Est. Return
-7.34%
1 Year Est. Return
+21.29%
3 Year Est. Return
+93.69%
5 Year Est. Return
+97.87%
10 Year Est. Return
–
AUM
$3B
AUM Growth
-$262M
Cap. Flow
+$51.5M
Cap. Flow %
1.72%
Top 10 Hldgs %
39.57%
Holding
66
New
4
Increased
44
Reduced
10
Closed
8

Top Buys

Rank Stock Value
1
SYK icon
Stryker
SYK
+$83.7M
2
TYL icon
Tyler Technologies
TYL
+$61.7M
3
APH icon
Amphenol
APH
+$38.4M
4
AJG icon
Arthur J. Gallagher & Co
AJG
+$32.2M
5
ISRG icon
Intuitive Surgical
ISRG
+$24.3M

Top Sells

Rank Stock Value
1
AMT icon
American Tower
AMT
+$95.3M
2
IT icon
Gartner
IT
+$76M
3
PCOR icon
Procore
PCOR
+$56.2M
4
TTAN
ServiceTitan Inc
TTAN
+$38.6M
5
LRCX icon
Lam Research
LRCX
+$37.1M

Sector Composition

Rank Sector Weight
1 Technology 50.29%
2 Industrials 13.16%
3 Healthcare 10.32%
4 Communication Services 8.62%
5 Financials 8.41%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SNOW icon
26
Snowflake
SNOW
$116B
$50M 1.67%
331,784
+83,325
+34% +$15.4M
AAPL icon
27
Apple
AAPL
$4.47T
$46.8M 1.56%
184,538
-24,396
-12% -$6.35M
MRVL icon
28
Marvell Technology
MRVL
$190B
$45.9M 1.53%
463,268
+42,911
+10% +$3.6M
NU icon
29
Nu Holdings
NU
$66.2B
$45.1M 1.51%
3,140,490
+74,097
+2% +$1.2M
HEI icon
30
HEICO Corp
HEI
$51.4B
$44.5M 1.49%
162,462
+48,896
+43% +$15.7M
HEI.A icon
31
HEICO Corp Class A
HEI.A
$37.4B
$43.1M 1.44%
203,943
+4,307
+2% +$1.06M
TOST icon
32
Toast
TOST
$20.8B
$39.1M 1.3%
1,475,513
+178,995
+14% +$5.34M
SNPS icon
33
Synopsys
SNPS
$78.8B
$38.6M 1.29%
97,464
+1,933
+2% +$874K
DASH icon
34
DoorDash
DASH
$91.7B
$35.7M 1.19%
238,051
+97,060
+69% +$17.9M
AXON
35
Axon Enterprise
AXON
$50.3B
$31.5M 1.05%
74,069
+19,332
+35% +$10M
SAIL
36
SailPoint Inc
SAIL
$10.7B
$30.6M 1.02%
2,309,076
+349,426
+18% +$5.45M
GLBE icon
37
Global E Online
GLBE
$6.77B
$30.2M 1.01%
979,308
+20,757
+2% +$730K
MPWR icon
38
Monolithic Power Systems
MPWR
$69.9B
$29.2M 0.97%
26,679
+470
+2% +$513K
CSGP icon
39
CoStar Group
CSGP
$12.5B
$28.6M 0.95%
709,426
+268,064
+61% +$14M
NET icon
40
Cloudflare
NET
$110B
$28.3M 0.94%
137,103
+30,566
+29% +$5.83M
MSFT icon
41
Microsoft
MSFT
$3.72T
$28M 0.93%
75,548
+1,500
+2% +$628K
FROG icon
42
JFrog
FROG
$10.6B
$25.4M 0.85%
540,609
+304,362
+129% +$14.9M
TEAM icon
43
Atlassian
TEAM
$39.2B
$25M 0.83%
366,298
+82,695
+29% +$8.15M
Z icon
44
Zillow
Z
$7.58B
$24.2M 0.81%
584,883
+198,150
+51% +$10.5M
RGEN icon
45
Repligen
RGEN
$9.35B
$23.9M 0.8%
203,225
+4,422
+2% +$618K
PEN icon
46
Penumbra
PEN
$12.8B
$22.7M 0.76%
68,986
-39,600
-36% -$13.4M
ADI icon
47
Analog Devices
ADI
$192B
$22.4M 0.75%
70,275
+1,396
+2% +$444K
AFRM icon
48
Affirm
AFRM
$25.5B
$16.8M 0.56%
366,379
+6,288
+2% +$363K
AMT icon
49
American Tower
AMT
$79.5B
$15.8M 0.53%
91,839
-529,738
-85% -$95.3M
COIN icon
50
Coinbase
COIN
$39.7B
$15.1M 0.51%
86,743
+1,692
+2% +$333K
1
2
3

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NZS Capital's Q1 2026 Portfolio in Review

As of Q1 2026, NZS Capital held 66 positions worth $3B, down 8% from $3.26B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

NZS Capital's Q1 2026 filing shows 4 new, 44 increased, 10 reduced and 8 closed positions. Its largest new stake was Stryker: 233,119 shares worth $76.6M. The largest sale was American Tower, an estimated $95.3M.

By sector, the portfolio is most concentrated in Technology at 50% of assets, up from 50% a quarter earlier, followed by Industrials and Healthcare.

  • NZS Capital's largest Q1 2026 buy was Stryker: 233,119 shares worth $76.6M.
  • NZS Capital added most to Tyler Technologies in Q1 2026, an estimated $61.7M increase.
  • NZS Capital's biggest Q1 2026 reduction was American Tower, cutting an estimated $95.3M.
  • NZS Capital fully exited Gartner in Q1 2026, selling an estimated $76M.
  • NZS Capital's ten largest holdings make up 40% of its $3B portfolio in Q1 2026.
  • NZS Capital opened 4 new positions and closed 8 in Q1 2026.
  • NZS Capital's portfolio value fell 8% quarter-over-quarter to $3B.

Based on NZS Capital's 13F filing for Q1 2026, filed 15 May 2026.