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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
+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
CRM icon
51
Salesforce
CRM
$162B
$17.5M 0.6%
64,253
+19,861
+45% +$5.31M
RDDT icon
52
Reddit
RDDT
$30.6B
$15.3M 0.52%
101,391
+36,211
+56% +$4.11M
SAIL
53
SailPoint Inc
SAIL
$10.8B
$13.9M 0.47%
609,518
+517,474
+562% +$9.77M
FND icon
54
Floor & Decor
FND
$6.36B
$13.5M 0.46%
177,753
-47,586
-21% -$3.53M
THO icon
55
Thor Industries
THO
$4.19B
$10M 0.34%
112,845
+10,105
+10% +$798K
NFLX icon
56
Netflix
NFLX
$314B
$8.18M 0.28%
61,070
-51,380
-46% -$5.81M
LMND icon
57
Lemonade
LMND
$4.11B
$5.24M 0.18%
119,708
+10,738
+10% +$358K
NOW icon
58
ServiceNow
NOW
$132B
$4.99M 0.17%
24,265
+730
+3% +$138K
MNDY icon
59
monday.com
MNDY
$3.68B
$3.97M 0.14%
12,628
+381
+3% +$106K
CRWD icon
60
CrowdStrike
CRWD
$227B
$3.47M 0.12%
27,248
+7,020
+35% +$761K
CPRT icon
61
Copart
CPRT
$27.3B
– –
-710,561
Closed -$40.2M
1 2
3

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PCM
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ROTUOC
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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.