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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
MSFT icon
1
Microsoft
MSFT
$3.72T
$149M 7.47%
438,469
+31,637
+8% +$9.92M
WDAY icon
2
Workday
WDAY
$45B
$102M 5.13%
453,690
-18,686
-4% -$3.74M
GOOG icon
3
Alphabet (Google) Class C
GOOG
$4.29T
$85.6M 4.28%
707,211
-23,925
-3% -$2.77M
TXN icon
4
Texas Instruments
TXN
$260B
$85.1M 4.26%
472,591
-2,178
-0.5% -$375K
FISV
5
Fiserv Inc
FISV
$27.6B
$79.9M 3.99%
633,008
+29,039
+5% +$3.42M
CDNS icon
6
Cadence Design Systems
CDNS
$90.4B
$78.9M 3.95%
336,546
-46,951
-12% -$10.2M
AAPL icon
7
Apple
AAPL
$4.47T
$78.9M 3.95%
406,697
+13,289
+3% +$2.32M
NVDA icon
8
NVIDIA
NVDA
$5.32T
$73.3M 3.67%
1,732,270
-204,590
-11% -$6.79M
MCHP icon
9
Microchip Technology
MCHP
$45B
$73.2M 3.66%
817,518
-1,593
-0.2% -$126K
KLAC icon
10
KLA
KLAC
$263B
$69.2M 3.46%
1,426,820
+66,060
+5% +$2.76M
LRCX icon
11
Lam Research
LRCX
$395B
$64M 3.2%
995,840
-140,850
-12% -$7.94M
TMUS icon
12
T-Mobile US
TMUS
$193B
$57.2M 2.86%
411,500
-15,457
-4% -$2.17M
AMZN icon
13
Amazon
AMZN
$2.96T
$47.8M 2.39%
366,786
-121,071
-25% -$13.8M
LIN icon
14
Linde
LIN
$227B
$46.4M 2.32%
121,681
-15,379
-11% -$5.62M
DHR icon
15
Danaher
DHR
$146B
$44.2M 2.21%
207,714
+851
+0.4% +$180K
CRM icon
16
Salesforce
CRM
$162B
$43M 2.15%
203,351
-175,720
-46% -$35.9M
BALL icon
17
Ball Corp
BALL
$16.7B
$42.7M 2.14%
733,633
-58,224
-7% -$3.16M
PGR icon
18
Progressive
PGR
$124B
$37.9M 1.9%
286,170
+6,977
+2% +$935K
AMD icon
19
Advanced Micro Devices
AMD
$766B
$37.5M 1.88%
329,092
-71,873
-18% -$7.47M
NEE icon
20
NextEra Energy
NEE
$177B
$34.8M 1.74%
468,537
-34,453
-7% -$2.61M
SUI icon
21
Sun Communities
SUI
$14.4B
$34.4M 1.72%
263,570
-23,444
-8% -$3.14M
ISRG icon
22
Intuitive Surgical
ISRG
$141B
$28.3M 1.41%
82,711
-3,396
-4% -$1.03M
SHOP icon
23
Shopify
SHOP
$197B
$28.2M 1.41%
437,237
-12,359
-3% -$699K
APH icon
24
Amphenol
APH
$212B
$28M 1.4%
659,802
+21,560
+3% +$837K
CSGP icon
25
CoStar Group
CSGP
$12.5B
$27.2M 1.36%
305,593
+71,813
+31% +$5.54M
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.