Latest NZS Capital, LLC Stock Portfolio

NZS Capital, LLC Performance:

2025 Q4: -0.66%YTD: 15.65%2024: 53.12%

Performance for 2025 Q4 is -0.66%, and YTD is 15.65%, and 2024 is 53.12%.

About NZS Capital, LLC and 13F Hedge Fund Stock Holdings

NZS Capital, LLC is a hedge fund based in Denver, CO. On 2026-02-12, the fund reported it's updated stock portfolio. In the 13F Holdings report, NZS Capital, LLC reported an equity portfolio of $3.3 Billions as of 31 Dec, 2025.

The top stock holdings of NZS Capital, LLC are GOOG, CDNS, DHR. The fund has invested 7.8% of it's portfolio in ALPHABET INC and 4.5% of portfolio in CADENCE DESIGN SYSTEM INC.

The fund managers got completely rid off FISERV INC, CHIPOTLE MEXICAN GRILL INC (CMG) and SALESFORCE INC (CRM) stocks. They significantly reduced their stock positions in MONDAY COM LTD (MNDY), AMPHENOL CORP NEW (APH) and SHOPIFY INC (SHOP). NZS Capital, LLC opened new stock positions in GALLAGHER ARTHUR J & CO (AJG), TYLER TECHNOLOGIES INC (TYL) and JFROG LTD (FROG). The fund showed a lot of confidence in some stocks as they added substantially to AXON ENTERPRISE INC (AXON), TRANE TECHNOLOGIES PLC (TT) and UBER TECHNOLOGIES INC (UBER).

NZS Capital, LLC Annual Return Estimates Vs S&P 500

Our best estimate is that NZS Capital, LLC made a return of -0.66% in the last quarter. In trailing 12 months, it's portfolio return was 15.65%.

Performance
S&P 500

New Buys

Ticker	$ Bought
gallagher arthur j & co	59,445,100
tyler technologies inc	14,807,800
jfrog ltd	14,756,000
heartflow inc	6,112,400
spotify technology s a	3,495,290

New stocks bought by NZS Capital, LLC

Additions

Ticker	% Inc.
axon enterprise inc	92.91
trane technologies plc	48.15
uber technologies inc	46.09
american tower corp new	41.2
analog devices inc	40.82
atlassian corporation	34.29
doordash inc	29.88
apple inc	29.57

Additions to existing portfolio by NZS Capital, LLC

Reductions

Ticker	% Reduced
monday com ltd	-74.43
amphenol corp new	-44.91
shopify inc	-39.92
lam research corp	-30.95
marvell technology inc	-18.75
lattice semiconductor corp	-17.85
nvidia corporation	-12.6
alphabet inc	-8.52

NZS Capital, LLC reduced stake in above stock

Sold off

Ticker	$ Sold
chipotle mexican grill inc	-25,872,100
fiserv inc	-70,151,100
salesforce inc	-19,160,500
netflix inc	-7,321,800

NZS Capital, LLC got rid off the above stocks

Sector Distribution

NZS Capital, LLC has about 45.1% of it's holdings in Technology sector.

Sector	%
Technology	45.1
Industrials	11.9
Others	9.6
Communication Services	8.8
Healthcare	8.4
Financial Services	6
Real Estate	5.1
Basic Materials	3.2
Consumer Cyclical	1.9

Market Cap. Distribution

NZS Capital, LLC has about 85.6% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
LARGE-CAP	63.4
MEGA-CAP	22.2
UNALLOCATED	9.6
MID-CAP	4.7

Stocks belong to which Index?

About 64.6% of the stocks held by NZS Capital, LLC either belong to S&P 500 or RUSSELL 2000 index.

Index	%
S&P 500	64.6
Others	35.1

Top 5 Winners (%)		%
LMND	lemonade inc	32.8 %
GOOG	alphabet inc	27.6 %
ISRG	intuitive surgical inc	26.5 %
LRCX	lam research corp	23.5 %
RGEN	repligen corp	22.4 %

Top 5 Winners ($)		$
GOOG	alphabet inc	59.9 M
LRCX	lam research corp	33.8 M
DHR	danaher corporation	17.2 M
ISRG	intuitive surgical inc	13.2 M
APH	amphenol corp new	7.8 M

Top 5 Losers (%)		%
COIN	coinbase global inc	-32.9 %
	figma inc	-26.6 %
	arm holdings plc	-21.8 %
CGNX	cognex corp	-20.5 %
CSGP	costar group inc	-19.0 %

Top 5 Losers ($)		$
CDNS	cadence design system inc	-19.0 M
	arm holdings plc	-13.8 M
URI	united rentals inc	-13.5 M
ROP	roper technologies inc	-11.9 M
WDAY	workday inc	-11.6 M

NZS Capital, LLC Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of NZS Capital, LLC

NZS Capital, LLC has 62 stocks in it's portfolio. About 39.6% of the portfolio is in top 10 stocks. CDNS proved to be the most loss making stock for the portfolio. GOOG was the most profitable stock for NZS Capital, LLC last quarter.

Last Reported on: 12 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AAPL	apple inc	1.74	208,934	56,800,800	added	29.57

ADI	analog devices inc	0.57	68,879	18,680,000	added	40.82

AFRM	affirm hldgs inc	0.82	360,091	26,801,600	added	0.89

AJG	gallagher arthur j & co	1.82	229,704	59,445,100	new

AMT	american tower corp new	3.35	621,577	109,130,000	added	41.2

APH	amphenol corp new	2.01	485,926	65,668,000	reduced	-44.91

AXON	axon enterprise inc	0.95	54,737	31,086,800	added	92.91

CDNS	cadence design system inc	4.50	469,857	146,868,000	reduced	-8.36

CGNX	cognex corp	0.76	692,849	24,928,700	added	1.00

CMG	chipotle mexican grill inc	0.00	0.00	0.00	sold off	-100

COIN	coinbase global inc	0.59	85,051	19,233,400	added	0.85

CRM	salesforce inc	0.00	0.00	0.00	sold off	-100

CRWD	crowdstrike hldgs inc	0.14	10,111	4,739,630	unchanged	0.00

CSGP	costar group inc	0.91	441,362	29,677,200	added	18.19

DASH	doordash inc	0.98	140,991	31,931,600	added	29.88

DHR	danaher corporation	4.43	630,666	144,372,000	added	28.5

FND	floor & decor hldgs inc	0.50	270,274	16,457,000	added	0.94

FROG	jfrog ltd	0.45	236,247	14,756,000	new

GLBE	global e online ltd	1.16	958,551	37,680,600	added	0.83

GOOG	alphabet inc	7.85	815,373	255,864,000	reduced	-8.52