We are live on ! Find out more
NC

NZS Capital Portfolio holdings

AUM $3B
1-Year Est. Return 21.29%
This Fund
S&P 500
This Quarter Est. Return
+22.41%
1 Year Est. Return
+21.29%
3 Year Est. Return
+93.69%
5 Year Est. Return
+97.87%
10 Year Est. Return
–
AUM
$2.94B
AUM Growth
+$725M
Cap. Flow
+$271M
Cap. Flow %
9.23%
Top 10 Hldgs %
39.5%
Holding
61
New
2
Increased
48
Reduced
10
Closed
1

Top Buys

Rank Stock Value
1
IR icon
Ingersoll Rand
IR
+$36.3M
2
CDNS icon
Cadence Design Systems
CDNS
+$23.5M
3
NVDA icon
NVIDIA
NVDA
+$22.7M
4
DHR icon
Danaher
DHR
+$19.4M
5
PGR icon
Progressive
PGR
+$19.3M

Top Sells

Rank Stock Value
1
CPRT icon
Copart
CPRT
+$40.2M
2
MSFT icon
Microsoft
MSFT
+$39.5M
3
AXON
Axon Enterprise
AXON
+$14.7M
4
DASH icon
DoorDash
DASH
+$11.7M
5
UBER icon
Uber
UBER
+$8.6M

Sector Composition

Rank Sector Weight
1 Technology 58.05%
2 Industrials 11.12%
3 Communication Services 7.4%
4 Financials 7.06%
5 Consumer Discretionary 5.39%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HEI.A icon
26
HEICO Corp Class A
HEI.A
$37B
$47.4M 1.61%
183,272
+16,491
+10% +$3.61M
UBER icon
27
Uber
UBER
$160B
$43.4M 1.48%
465,654
-104,525
-18% -$8.6M
TEAM icon
28
Atlassian
TEAM
$39B
$40.6M 1.38%
199,961
+41,826
+26% +$8.71M
IR icon
29
Ingersoll Rand
IR
$32.9B
$38.3M 1.3%
+460,512
New +$36.3M
MRVL icon
30
Marvell Technology
MRVL
$189B
$37.8M 1.29%
488,953
+213,820
+78% +$13.3M
HEI icon
31
HEICO Corp
HEI
$51.1B
$37.2M 1.26%
113,446
-23,030
-17% -$6.37M
ISRG icon
32
Intuitive Surgical
ISRG
$141B
$37.1M 1.26%
68,306
+5,632
+9% +$2.94M
MSFT icon
33
Microsoft
MSFT
$3.73T
$36.8M 1.25%
74,048
-90,858
-55% -$39.5M
CMG icon
34
Chipotle Mexican Grill
CMG
$40.3B
$34.4M 1.17%
612,205
+166,788
+37% +$8.49M
COIN icon
35
Coinbase
COIN
$39.2B
$34.3M 1.17%
97,915
+42,561
+77% +$9.95M
NU icon
36
Nu Holdings
NU
$65.5B
$32.9M 1.12%
2,400,684
+399,220
+20% +$4.78M
LSCC icon
37
Lattice Semiconductor
LSCC
$18.1B
$31M 1.05%
633,031
+140,257
+28% +$6.71M
CGNX icon
38
Cognex
CGNX
$10.7B
$30.5M 1.04%
962,284
+74,734
+8% +$2.14M
CSGP icon
39
CoStar Group
CSGP
$12.6B
$28.2M 0.96%
350,527
-45,781
-12% -$3.57M
AFRM icon
40
Affirm
AFRM
$25.6B
$26.2M 0.89%
378,330
+100,735
+36% +$5.22M
TTAN
41
ServiceTitan Inc
TTAN
$8.6B
$25.3M 0.86%
235,803
+87,467
+59% +$9.78M
ON icon
42
ON Semiconductor
ON
$31.8B
$23.3M 0.79%
445,379
+52,715
+13% +$2.29M
AAPL icon
43
Apple
AAPL
$4.48T
$23.2M 0.79%
113,080
+23,257
+26% +$4.7M
GLBE icon
44
Global E Online
GLBE
$6.85B
$22.9M 0.78%
682,303
+96,004
+16% +$3.24M
PWR icon
45
Quanta Services
PWR
$101B
$22.5M 0.76%
+59,468
New +$19.1M
DASH icon
46
DoorDash
DASH
$93.2B
$22.5M 0.76%
91,153
-58,243
-39% -$11.7M
AXON
47
Axon Enterprise
AXON
$50.9B
$22.1M 0.75%
26,723
-21,638
-45% -$14.7M
Z icon
48
Zillow
Z
$7.76B
$21.2M 0.72%
302,430
+24,536
+9% +$1.65M
RGEN icon
49
Repligen
RGEN
$9.29B
$18.1M 0.61%
145,294
+13,372
+10% +$1.7M
PEN icon
50
Penumbra
PEN
$12.9B
$17.9M 0.61%
69,629
+6,125
+10% +$1.67M
1
2
3

Similar funds

B
Braidwell Stamford, Connecticut $3B AUM 46.72% 1-Year Est. Return
SGI
Swan Global Investments Durango, Colorado $3B AUM 15.66% 1-Year Est. Return
SP
SurgoCap Partners New York $2.99B AUM 39.34% 1-Year Est. Return
DIG
Dragoneer Investment Group San Francisco, California $3B AUM 6.95% 1-Year Est. Return
PCM
Palisade Capital Management Fort Lee, New Jersey $3B AUM 14% 1-Year Est. Return
ROTUOC
Regents of the University of California Oakland, California $3.01B AUM 11.91% 1-Year Est. Return
PHAM
Pacific Heights Asset Management San Francisco, California $2.99B AUM 52.5% 1-Year Est. Return
BGDI
BW Gestao de Investimentos Sao Paulo, Brazil $3.01B AUM 27.43% 1-Year Est. Return

NZS Capital's Q2 2025 Portfolio in Review

As of Q2 2025, NZS Capital held 61 positions worth $2.94B, up 33% from $2.22B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

NZS Capital deployed $271M of net new capital in Q2 2025, opening 2 new positions and adding to 48 existing holdings. Its largest new stake was Ingersoll Rand: 460,512 shares worth $38.3M.

By sector, the portfolio is most concentrated in Technology at 58% of assets, up from 56% a quarter earlier, followed by Industrials and Communication Services.

On the sell side, the largest reduction was Microsoft, an estimated $39.5M trimmed.

  • NZS Capital's largest Q2 2025 buy was Ingersoll Rand: 460,512 shares worth $38.3M.
  • NZS Capital added most to Cadence Design Systems in Q2 2025, an estimated $23.5M increase.
  • NZS Capital's biggest Q2 2025 reduction was Microsoft, cutting an estimated $39.5M.
  • NZS Capital fully exited Copart in Q2 2025, selling an estimated $40.2M.
  • NZS Capital's ten largest holdings make up 40% of its $2.94B portfolio in Q2 2025.
  • NZS Capital opened 2 new positions and closed 1 in Q2 2025.
  • NZS Capital's portfolio value rose 33% quarter-over-quarter to $2.94B.

Based on NZS Capital's 13F filing for Q2 2025, filed 13 Aug 2025.