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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
+3.22%
1 Year Est. Return
+21.29%
3 Year Est. Return
+93.69%
5 Year Est. Return
+97.87%
10 Year Est. Return
–
AUM
$2.35B
AUM Growth
-$215M
Cap. Flow
-$220M
Cap. Flow %
-9.37%
Top 10 Hldgs %
40.31%
Holding
63
New
5
Increased
24
Reduced
30
Closed
4

Top Buys

Rank Stock Value
1
ANSS
Ansys
ANSS
+$30M
2
TEAM icon
Atlassian
TEAM
+$23.2M
3
CPRT icon
Copart
CPRT
+$20.7M
4
SNOW icon
Snowflake
SNOW
+$19.6M
5
TTAN
ServiceTitan Inc
TTAN
+$15.7M

Top Sells

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$49.4M
2
KLAC icon
KLA
KLAC
+$32.4M
3
AAPL icon
Apple
AAPL
+$28.8M
4
AMD icon
Advanced Micro Devices
AMD
+$28.8M
5
CRM icon
Salesforce
CRM
+$28.2M

Sector Composition

Rank Sector Weight
1 Technology 54.55%
2 Industrials 10.18%
3 Communication Services 9.64%
4 Consumer Discretionary 6.48%
5 Healthcare 6.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ISRG icon
26
Intuitive Surgical
ISRG
$141B
$33.2M 1.41%
63,550
-2,770
-4% -$1.44M
HEI.A icon
27
HEICO Corp Class A
HEI.A
$37B
$31.4M 1.34%
168,885
+7,599
+5% +$1.53M
CSGP icon
28
CoStar Group
CSGP
$12.6B
$31M 1.32%
433,500
-21,882
-5% -$1.65M
DASH icon
29
DoorDash
DASH
$93.2B
$30.8M 1.31%
183,360
-13,258
-7% -$2.18M
ANSS
30
DELISTED
Ansys
ANSS
$30.2M 1.29%
+89,543
New +$30M
NET icon
31
Cloudflare
NET
$110B
$29.9M 1.27%
277,652
+17,015
+7% +$1.66M
PCOR icon
32
Procore
PCOR
$8.9B
$29.5M 1.26%
393,582
-61,066
-13% -$4.33M
LSCC icon
33
Lattice Semiconductor
LSCC
$18.1B
$28.3M 1.21%
500,300
+3,992
+0.8% +$219K
CMG icon
34
Chipotle Mexican Grill
CMG
$40.3B
$27.2M 1.16%
451,628
+21,496
+5% +$1.3M
CGNX icon
35
Cognex
CGNX
$10.7B
$27.2M 1.16%
758,787
-48,371
-6% -$1.89M
ON icon
36
ON Semiconductor
ON
$31.8B
$25.1M 1.07%
398,568
-34,984
-8% -$2.41M
TEAM icon
37
Atlassian
TEAM
$39B
$24.7M 1.05%
+101,403
New +$23.2M
GLBE icon
38
Global E Online
GLBE
$6.85B
$23.9M 1.02%
438,263
+299,062
+215% +$13.5M
CYBR
39
DELISTED
CyberArk
CYBR
$23.8M 1.01%
71,421
-31,790
-31% -$9.66M
FND icon
40
Floor & Decor
FND
$6.36B
$22.7M 0.97%
228,160
+54,327
+31% +$5.84M
AXON
41
Axon Enterprise
AXON
$50.9B
$22.7M 0.97%
38,267
-47,806
-56% -$26M
SNOW icon
42
Snowflake
SNOW
$117B
$21.5M 0.92%
+139,391
New +$19.6M
Z icon
43
Zillow
Z
$7.76B
$20.9M 0.89%
281,757
-62,560
-18% -$4.47M
RGEN icon
44
Repligen
RGEN
$9.29B
$19.2M 0.82%
133,694
+5,855
+5% +$840K
TTD icon
45
Trade Desk
TTD
$6.43B
$18.1M 0.77%
153,998
-31,631
-17% -$3.91M
GTLS
46
DELISTED
Chart Industries
GTLS
$17.7M 0.75%
92,644
-46,349
-33% -$7.45M
AFRM icon
47
Affirm
AFRM
$25.6B
$17.1M 0.73%
281,388
+22,167
+9% +$1.23M
CCJ icon
48
Cameco
CCJ
$42.9B
$17M 0.72%
330,981
-354,141
-52% -$19.3M
ARM icon
49
Arm
ARM
$288B
$16.7M 0.71%
135,534
+1,126
+0.8% +$159K
NU icon
50
Nu Holdings
NU
$65.5B
$15.8M 0.67%
1,528,780
+76,595
+5% +$1.02M
1
2
3

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NZS Capital's Q4 2024 Portfolio in Review

As of Q4 2024, NZS Capital held 63 positions worth $2.35B, down 8.4% from $2.56B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

NZS Capital withdrew a net $220M in Q4 2024, closing 4 positions and reducing 30 holdings. Its most notable exit was Medpace, an estimated $23.7M position sold in full.

By sector, the portfolio is most concentrated in Technology at 55% of assets, down from 55% a quarter earlier, followed by Industrials and Communication Services.

Against the trend, NZS Capital opened a new position in Ansys worth $30.2M.

  • NZS Capital's largest Q4 2024 buy was Ansys: 89,543 shares worth $30.2M.
  • NZS Capital added most to Copart in Q4 2024, an estimated $20.7M increase.
  • NZS Capital's biggest Q4 2024 reduction was Microsoft, cutting an estimated $49.4M.
  • NZS Capital fully exited Medpace in Q4 2024, selling an estimated $23.7M.
  • NZS Capital's ten largest holdings make up 40% of its $2.35B portfolio in Q4 2024.
  • NZS Capital opened 5 new positions and closed 4 in Q4 2024.
  • NZS Capital's portfolio value fell 8.4% quarter-over-quarter to $2.35B.

Based on NZS Capital's 13F filing for Q4 2024, filed 14 Feb 2025.