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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
+11.64%
1 Year Est. Return
+21.29%
3 Year Est. Return
+93.69%
5 Year Est. Return
+97.87%
10 Year Est. Return
–
AUM
$2B
AUM Growth
+$111M
Cap. Flow
-$73.3M
Cap. Flow %
-3.67%
Top 10 Hldgs %
43.81%
Holding
68
New
3
Increased
26
Reduced
35
Closed
4

Top Buys

Rank Stock Value
1
AXON
Axon Enterprise
AXON
+$11.2M
2
MSFT icon
Microsoft
MSFT
+$9.92M
3
CGNX icon
Cognex
CGNX
+$7.42M
4
ON icon
ON Semiconductor
ON
+$6.87M
5
CSGP icon
CoStar Group
CSGP
+$5.54M

Top Sells

Rank Stock Value
1
CRM icon
Salesforce
CRM
+$35.9M
2
PYPL icon
PayPal
PYPL
+$21.7M
3
AMZN icon
Amazon
AMZN
+$13.8M
4
CDNS icon
Cadence Design Systems
CDNS
+$10.2M
5
CTLT
CATALENT, INC.
CTLT
+$8.88M

Sector Composition

Rank Sector Weight
1 Technology 62.92%
2 Consumer Discretionary 10.07%
3 Communication Services 8.29%
4 Healthcare 5.51%
5 Industrials 3.6%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ADSK icon
26
Autodesk
ADSK
$53.2B
$25.6M 1.28%
125,320
+11,151
+10% +$2.23M
NOW icon
27
ServiceNow
NOW
$132B
$24.3M 1.21%
215,995
-3,210
-1% -$321K
ON icon
28
ON Semiconductor
ON
$31.8B
$23.9M 1.19%
252,429
+83,046
+49% +$6.87M
LSCC icon
29
Lattice Semiconductor
LSCC
$18.1B
$23.6M 1.18%
245,254
+29,360
+14% +$2.53M
ABNB icon
30
Airbnb
ABNB
$111B
$22.7M 1.13%
176,898
-5,932
-3% -$694K
CYBR
31
DELISTED
CyberArk
CYBR
$22.2M 1.11%
141,984
-20,109
-12% -$2.88M
MELI icon
32
Mercado Libre
MELI
$97.3B
$21.1M 1.06%
17,817
-764
-4% -$961K
SLAB icon
33
Silicon Laboratories
SLAB
$7.22B
$20.1M 1.01%
127,645
+11,122
+10% +$1.68M
NET icon
34
Cloudflare
NET
$110B
$17.5M 0.88%
267,586
-5,775
-2% -$345K
CMG icon
35
Chipotle Mexican Grill
CMG
$40.3B
$17.5M 0.87%
408,500
-32,900
-7% -$1.3M
PCOR icon
36
Procore
PCOR
$8.9B
$16.8M 0.84%
257,932
-8,208
-3% -$483K
FAST icon
37
Fastenal
FAST
$60.4B
$16.5M 0.83%
560,922
-43,372
-7% -$1.19M
DXCM icon
38
DexCom
DXCM
$33.5B
$16.3M 0.81%
126,647
+1,809
+1% +$219K
OKTA icon
39
Okta
OKTA
$26.1B
$16M 0.8%
231,013
-33,786
-13% -$2.57M
TOST icon
40
Toast
TOST
$20.7B
$15.9M 0.79%
703,568
+115,086
+20% +$2.3M
TT icon
41
Trane Technologies
TT
$106B
$15.7M 0.79%
82,225
+6,419
+8% +$1.14M
TSCO icon
42
Tractor Supply
TSCO
$18.7B
$13.6M 0.68%
308,060
-29,170
-9% -$1.34M
DASH icon
43
DoorDash
DASH
$93.2B
$13.3M 0.67%
174,308
+63,392
+57% +$4.21M
WOLF icon
44
Wolfspeed
WOLF
$1.52B
$13.2M 0.66%
238,054
-7,594
-3% -$387K
CGNX icon
45
Cognex
CGNX
$10.7B
$13.1M 0.66%
234,048
+143,450
+158% +$7.42M
URI icon
46
United Rentals
URI
$71.5B
$13M 0.65%
29,168
-1,709
-6% -$633K
DOCS icon
47
Doximity
DOCS
$4.71B
$12.1M 0.6%
354,686
+57,675
+19% +$1.92M
CSTM icon
48
Constellium
CSTM
$4.03B
$11.3M 0.56%
655,858
-70,244
-10% -$1.08M
Z icon
49
Zillow
Z
$7.76B
$11.2M 0.56%
221,962
+9,675
+5% +$445K
AXON
50
Axon Enterprise
AXON
$50.9B
$10.6M 0.53%
+54,143
New +$11.2M
1
2
3

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NZS Capital's Q2 2023 Portfolio in Review

As of Q2 2023, NZS Capital held 68 positions worth $2B, up 5.9% from $1.89B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

NZS Capital withdrew a net $73.3M in Q2 2023, closing 4 positions and reducing 35 holdings. Its most notable exit was PayPal, an estimated $21.7M position sold in full.

By sector, the portfolio is most concentrated in Technology at 63% of assets, up from 61% a quarter earlier, followed by Consumer Discretionary and Communication Services.

Against the trend, NZS Capital opened a new position in Axon Enterprise worth $10.6M.

  • NZS Capital's largest Q2 2023 buy was Axon Enterprise: 54,143 shares worth $10.6M.
  • NZS Capital added most to Microsoft in Q2 2023, an estimated $9.92M increase.
  • NZS Capital's biggest Q2 2023 reduction was Salesforce, cutting an estimated $35.9M.
  • NZS Capital fully exited PayPal in Q2 2023, selling an estimated $21.7M.
  • NZS Capital's ten largest holdings make up 44% of its $2B portfolio in Q2 2023.
  • NZS Capital opened 3 new positions and closed 4 in Q2 2023.
  • NZS Capital's portfolio value rose 5.9% quarter-over-quarter to $2B.

Based on NZS Capital's 13F filing for Q2 2023, filed 11 Aug 2023.