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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
+18.03%
1 Year Est. Return
+21.29%
3 Year Est. Return
+93.69%
5 Year Est. Return
+97.87%
10 Year Est. Return
–
AUM
$1.9B
AUM Growth
+$41.4M
Cap. Flow
-$241M
Cap. Flow %
-12.69%
Top 10 Hldgs %
43.29%
Holding
69
New
4
Increased
31
Reduced
20
Closed
14

Top Buys

Rank Stock Value
1
URI icon
United Rentals
URI
+$17.5M
2
UBER icon
Uber
UBER
+$15.3M
3
ANSS
Ansys
ANSS
+$8.68M
4
TOST icon
Toast
TOST
+$8.32M
5
FND icon
Floor & Decor
FND
+$7.28M

Top Sells

Rank Stock Value
1
TMUS icon
T-Mobile US
TMUS
+$46M
2
BALL icon
Ball Corp
BALL
+$32.8M
3
NEE icon
NextEra Energy
NEE
+$29.2M
4
ADSK icon
Autodesk
ADSK
+$25.7M
5
NVDA icon
NVIDIA
NVDA
+$23.6M

Sector Composition

Rank Sector Weight
1 Technology 62.82%
2 Healthcare 7.25%
3 Communication Services 6.9%
4 Consumer Discretionary 6.52%
5 Industrials 6.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MSFT icon
1
Microsoft
MSFT
$3.72T
$139M 7.34%
370,742
-62,294
-14% -$22.2M
GOOG icon
2
Alphabet (Google) Class C
GOOG
$4.29T
$116M 6.11%
822,790
+13,815
+2% +$1.87M
WDAY icon
3
Workday
WDAY
$45B
$92.3M 4.86%
334,495
-36,782
-10% -$8.76M
CDNS icon
4
Cadence Design Systems
CDNS
$90.4B
$75.4M 3.97%
276,683
-42,566
-13% -$11M
FISV
5
Fiserv Inc
FISV
$27.6B
$72.2M 3.81%
543,746
-36,108
-6% -$4.43M
KLAC icon
6
KLA
KLAC
$263B
$68.5M 3.61%
1,178,790
-103,540
-8% -$5.39M
LRCX icon
7
Lam Research
LRCX
$395B
$68.1M 3.59%
869,790
-74,060
-8% -$5.05M
APH icon
8
Amphenol
APH
$212B
$66.1M 3.48%
1,333,282
-130,634
-9% -$5.77M
TXN icon
9
Texas Instruments
TXN
$260B
$64.5M 3.4%
378,325
-18,183
-5% -$2.82M
NVDA icon
10
NVIDIA
NVDA
$5.32T
$59.2M 3.12%
1,195,710
-508,850
-30% -$23.6M
MCHP icon
11
Microchip Technology
MCHP
$45B
$57.7M 3.04%
639,793
-71,790
-10% -$5.84M
DHR icon
12
Danaher
DHR
$146B
$54.2M 2.85%
234,180
+19,180
+9% +$4.08M
PGR icon
13
Progressive
PGR
$124B
$50.6M 2.66%
317,555
+17,140
+6% +$2.68M
AMD icon
14
Advanced Micro Devices
AMD
$766B
$50.2M 2.64%
340,488
+41,590
+14% +$4.9M
AAPL icon
15
Apple
AAPL
$4.47T
$44.9M 2.37%
233,378
-109,349
-32% -$20.2M
LIN icon
16
Linde
LIN
$227B
$44M 2.32%
107,105
+2,572
+2% +$1.01M
TT icon
17
Trane Technologies
TT
$108B
$41.2M 2.17%
168,901
+15,306
+10% +$3.35M
ANSS
18
DELISTED
Ansys
ANSS
$40.2M 2.12%
110,821
+29,292
+36% +$8.68M
SHOP icon
19
Shopify
SHOP
$197B
$39.7M 2.09%
509,500
+74,872
+17% +$4.78M
URI icon
20
United Rentals
URI
$72.2B
$38M 2%
66,277
+37,147
+128% +$17.5M
SUI icon
21
Sun Communities
SUI
$14.4B
$35.5M 1.87%
265,730
+2,707
+1% +$326K
CSGP icon
22
CoStar Group
CSGP
$12.5B
$31.6M 1.67%
361,760
+58,968
+19% +$4.77M
AMZN icon
23
Amazon
AMZN
$2.96T
$29.8M 1.57%
196,291
-105,082
-35% -$14.7M
NOW icon
24
ServiceNow
NOW
$132B
$28.1M 1.48%
199,150
-25,715
-11% -$3.24M
ISRG icon
25
Intuitive Surgical
ISRG
$141B
$27.6M 1.45%
81,777
+3,736
+5% +$1.11M
1
2 3

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NZS Capital's Q4 2023 Portfolio in Review

As of Q4 2023, NZS Capital held 69 positions worth $1.9B, up 2.2% from $1.86B the previous quarter. Its ten largest holdings account for 43% of the portfolio.

NZS Capital withdrew a net $241M in Q4 2023, closing 14 positions and reducing 20 holdings. Its most notable exit was T-Mobile US, an estimated $46M 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 Healthcare and Communication Services.

Against the trend, NZS Capital opened a new position in Uber worth $18M.

  • NZS Capital's largest Q4 2023 buy was Uber: 292,409 shares worth $18M.
  • NZS Capital added most to United Rentals in Q4 2023, an estimated $17.5M increase.
  • NZS Capital's biggest Q4 2023 reduction was NVIDIA, cutting an estimated $23.6M.
  • NZS Capital fully exited T-Mobile US in Q4 2023, selling an estimated $46M.
  • NZS Capital's ten largest holdings make up 43% of its $1.9B portfolio in Q4 2023.
  • NZS Capital opened 4 new positions and closed 14 in Q4 2023.
  • NZS Capital's portfolio value rose 2.2% quarter-over-quarter to $1.9B.

Based on NZS Capital's 13F filing for Q4 2023, filed 14 Feb 2024.