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
+6.41%
1 Year Est. Return
+21.29%
3 Year Est. Return
+93.69%
5 Year Est. Return
+97.87%
10 Year Est. Return
–
AUM
$3.27B
AUM Growth
+$323M
(+11%)
Cap. Flow
+$164M
Cap. Flow
% of AUM
5.04%
Top 10 Holdings %
Top 10 Hldgs %
38.68%
Holding
66
New
6
Increased
40
Reduced
13
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Workday
WDAY
|
+$93.8M |
| 2 |
Gartner
IT
|
+$75.3M |
| 3 |
Synopsys
SNPS
|
+$53.6M |
| 4 |
Roper Technologies
ROP
|
+$39M |
| 5 |
Ingersoll Rand
IR
|
+$35.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$96.7M |
| 2 |
Microchip Technology
MCHP
|
+$86.6M |
| 3 |
Autodesk
ADSK
|
+$62.8M |
| 4 |
Amphenol
APH
|
+$48.4M |
| 5 |
CYBR
CyberArk
CYBR
|
+$47.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 56.07% |
| 2 | Industrials | 11.3% |
| 3 | Communication Services | 8.29% |
| 4 | Financials | 7.16% |
| 5 | Healthcare | 5.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Penumbra
PEN
$12.9B
| $22M | 0.67% |
86,984
+17,355
| +25% | +$4.38M |
|
52
Reddit
RDDT
$30.6B
| $21.5M | 0.66% |
93,295
-8,096
| -8% | -$1.65M |
|
|
AXON
53
Axon Enterprise
AXON
$50.9B
| $20.4M | 0.62% |
28,375
+1,652
| +6% | +$1.25M |
|
54
Floor & Decor
FND
$6.36B
| $19.7M | 0.6% |
267,750
+89,997
| +51% | +$7.38M |
|
55
Salesforce
CRM
$162B
| $19.2M | 0.59% |
80,846
+16,593
| +26% | +$4.18M |
|
56
monday.com
MNDY
$3.68B
| $12.6M | 0.39% |
65,087
+52,459
| +415% | +$12.1M |
|
57
Analog Devices
ADI
$189B
| $12M | 0.37% |
+48,914
| New | +$11.8M |
|
|
FIG
58
Figma
FIG
$13.4B
| $8.07M | 0.25% |
+155,582
| New | +$10.7M |
|
59
Netflix
NFLX
$314B
| $7.32M | 0.22% |
61,070
| – | – |
|
60
Lemonade
LMND
$4.11B
| $6.91M | 0.21% |
129,084
+9,376
| +8% | +$457K |
|
61
CrowdStrike
CRWD
$227B
| $4.96M | 0.15% |
40,444
+13,196
| +48% | +$1.5M |
|
|
62
Autodesk
ADSK
$53.2B
| – | – |
-202,937
| Closed | -$62.8M |
|
|
CYBR
63
DELISTED
CyberArk
CYBR
| – | – |
-116,707
| Closed | -$47.5M |
|
|
64
Microchip Technology
MCHP
$44.7B
| – | – |
-1,231,066
| Closed | -$86.6M |
|
65
ON Semiconductor
ON
$31.8B
| – | – |
-445,379
| Closed | -$23.3M |
|
66
Thor Industries
THO
$4.19B
| – | – |
-112,845
| Closed | -$10M |
|
Similar funds
B
SGI
SP
DIG
PCM
ROTUOC
PHAM
BGDI
NZS Capital's Q3 2025 Portfolio in Review
As of Q3 2025, NZS Capital held 66 positions worth $3.27B, up 11% from $2.94B the previous quarter. Its ten largest holdings account for 39% of the portfolio.
NZS Capital deployed $164M of net new capital in Q3 2025, opening 6 new positions and adding to 40 existing holdings. Its largest new stake was Workday: 405,514 shares worth $97.6M.
By sector, the portfolio is most concentrated in Technology at 56% of assets, down from 58% a quarter earlier, followed by Industrials and Communication Services.
On the sell side, the largest reduction was NVIDIA, an estimated $96.7M trimmed.
- NZS Capital's largest Q3 2025 buy was Workday: 405,514 shares worth $97.6M.
- NZS Capital added most to Roper Technologies in Q3 2025, an estimated $39M increase.
- NZS Capital's biggest Q3 2025 reduction was NVIDIA, cutting an estimated $96.7M.
- NZS Capital fully exited Microchip Technology in Q3 2025, selling an estimated $86.6M.
- NZS Capital's ten largest holdings make up 39% of its $3.27B portfolio in Q3 2025.
- NZS Capital opened 6 new positions and closed 5 in Q3 2025.
- NZS Capital's portfolio value rose 11% quarter-over-quarter to $3.27B.
Based on NZS Capital's 13F filing for Q3 2025, filed 12 Nov 2025.