NZS Capital, LLC

CIK

1816616

Location

DENVER, CO

Portfolio Value

Mid $2,712,779,614

Diversification

Diversified

Filing Date

Global Rank

#806 / 8,232 ▲ 23

Top Industry

Software - Application 22.7%

3Y Alpha vs SPY

-5.7%

Period ended 2 months ago

Filed May 15, 2026 · 30d

20 quarters · since Jun 2021

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+52.5%

SPY

+76.3%

Annualised alpha

-5.7%

Max drawdown

−23.0%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

55 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

5.4%

+0.4 pts

Top 5

21.9%

+0.2 pts

Top 10

38.6%

+0.7 pts

HHI

268

Diversified+18

Portfolio Trend

20 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	55.6%	$1,507,680,722	30
Industrials	13.0%	$351,655,966	6
Healthcare	11.4%	$309,476,567	6
Financial Services	9.3%	$252,079,789	5
Consumer Cyclical	4.3%	$117,400,269	3
Basic Materials	4.2%	$114,111,558	1
Real Estate	1.6%	$44,467,818	2
Communication Services	0.6%	$15,906,925	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
SAIL	SailPoint, Inc.	+349,426	2,309,076	$30,572,166
FROG	JFrog Ltd	+304,362	540,609	$25,370,780
APH	Amphenol Corp /De/	+273,049	758,975	$95,896,491
CSGP	Costar Group, Inc.	+268,064	709,426	$28,618,244
TOST	Toast, Inc.	+178,995	1,475,513	$39,115,849
SHOP	Shopify Inc.	+171,061	550,389	$65,287,143
TYL	Tyler Technologies Inc	+165,844	198,464	$67,950,104
AJG	Arthur J. Gallagher & Co.	+139,261	368,965	$79,910,439
DASH	DoorDash, Inc.	+97,060	238,051	$35,743,357
FIG	Figma, Inc.	+93,594	272,131	$5,752,849
SNOW	Snowflake Inc.	+83,325	331,784	$50,039,662
TEAM	Atlassian Corp	+82,695	366,298	$24,999,838
HTFL	Heartflow, Inc.	+80,445	290,133	$7,058,935
NU	Nu Holdings Ltd.	+74,097	3,140,490	$45,128,841
ROP	Roper Technologies Inc	+62,980	289,295	$102,369,928
CDNS	Cadence Design Systems Inc	+57,566	527,423	$146,555,029
ARM	Arm Holdings PLC /Uk	+55,555	467,303	$70,693,597
NVDA	Nvidia Corp	+50,121	344,238	$60,035,107
HEI	Heico Corp	+48,896	162,462	$44,547,080
ISRG	Intuitive Surgical Inc	+48,100	159,105	$73,345,813
WDAY	Workday, Inc.	+43,566	532,142	$69,135,888
MRVL	Marvell Technology, Inc.	+42,911	463,268	$45,886,695
NET	Cloudflare, Inc.	+30,566	137,103	$28,289,833
GLBE	Global-E Online Ltd.	+20,757	979,308	$30,211,651
AXON	Axon Enterprise, Inc.	+19,332	74,069	$31,456,363
No positions match the current search.

Trimmed

Positions the filer reduced

9 positions

Ticker	Company	Δ Shares	Shares	Value
AMT	American Tower Corp /Ma/	−529,738	91,839	$15,849,574
LRCX	Lam Research Corp	−165,786	573,887	$122,616,696
IR	Ingersoll Rand Inc.	−74,610	907,881	$72,739,425
DHR	Danaher Corp /De/	−72,257	558,409	$105,874,346
PEN	Penumbra Inc	−39,600	68,986	$22,652,932
AAPL	Apple Inc.	−24,396	184,538	$46,833,899
LIN	Linde PLC	−14,170	230,175	$114,111,558
PWR	Quanta Services, Inc.	−5,851	97,407	$53,478,391
KLAC	Kla Corp	−3,640	43,175	$63,571,301
No positions match the current search.

New Positions

Positions the filer opened this quarter

4 positions

Ticker	Company	Shares	Value
SYK	Stryker Corp	233,119	$76,600,572
SABR	Sabre Corp	5,508,444	$7,987,243
CRM	Salesforce, Inc.	29,457	$5,498,738
IOT	Samsara Inc.	51,522	$1,632,732
No positions match the current search.

Sold Out

Positions the filer fully exited

8 positions

Ticker	Company	Shares	Value
IT	Gartner Inc	301,284	$76,007,927
PCOR	Procore Technologies, Inc.	773,108	$56,235,875
TTAN	ServiceTitan, Inc.	362,203	$38,574,619
CGNX	Cognex Corp	692,849	$24,928,707
NOW	ServiceNow, Inc.	142,676	$21,856,536
FND	Floor & Decor Holdings, Inc.	270,274	$16,456,983
LMND	Lemonade, Inc.	130,379	$9,280,377
MNDY	monday.com Ltd.	16,646	$2,456,283
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

55 positions · $2,712,779,614 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Financial Services Healthcare Industrials Real Estate Technology

Showing 1–50 of 55 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
CDNS	Cadence Design Systems Inc Technology	Added	527,423	+57,566	$146,555,029	−0.2%	5.40%
LRCX	Lam Research Corp Technology	Reduced	573,887	-165,786	$122,616,696	−3.2%	4.52%
LIN	Linde PLC Basic Materials	Reduced	230,175	-14,170	$114,111,558	+9.5%	4.21%
DHR	Danaher Corp /De/ Healthcare	Reduced	558,409	-72,257	$105,874,346	−26.7%	3.90%
TXN	Texas Instruments Inc Technology	Added	533,805	+11,546	$103,632,902	+14.4%	3.82%
ROP	Roper Technologies Inc Technology	Added	289,295	+62,980	$102,369,928	+1.6%	3.77%
APH	Amphenol Corp /De/ Technology	Added	758,975	+273,049	$95,896,491	+46.0%	3.53%
PGR	Progressive Corp/Oh/ Financial Services	Added	479,756	+11,391	$95,106,829	−10.8%	3.51%
TT	Trane Technologies plc Industrials	Added	197,197	+4,423	$82,179,877	+9.5%	3.03%
AJG	Arthur J. Gallagher & Co. Financial Services	Added	368,965	+139,261	$79,910,439	+34.4%	2.95%
SYK	Stryker Corp Healthcare	NEW	233,119	NEW	$76,600,572	NEW	2.82%
ISRG	Intuitive Surgical Inc Healthcare	Added	159,105	+48,100	$73,345,813	+16.7%	2.70%
IR	Ingersoll Rand Inc. Industrials	Reduced	907,881	-74,610	$72,739,425	−6.5%	2.68%
ARM	Arm Holdings PLC /Uk Technology	Added	467,303	+55,555	$70,693,597	+57.1%	2.61%
WDAY	Workday, Inc. Technology	Added	532,142	+43,566	$69,135,888	−34.1%	2.55%
TYL	Tyler Technologies Inc Technology	Added	198,464	+165,844	$67,950,104	+358.9%	2.50%
URI	United Rentals, Inc. Industrials	Added	92,312	+2,167	$67,254,830	−7.8%	2.48%
SHOP	Shopify Inc. Technology	Added	550,389	+171,061	$65,287,143	+6.9%	2.41%
KLAC	Kla Corp Technology	Reduced	43,175	-3,640	$63,571,301	+11.8%	2.34%
NVDA	Nvidia Corp Technology	Added	344,238	+50,121	$60,035,107	+9.4%	2.21%
PWR	Quanta Services, Inc. Industrials	Reduced	97,407	-5,851	$53,478,391	+22.7%	1.97%
UBER	Uber Technologies, Inc Technology	Added	743,412	+19,158	$53,473,625	−9.6%	1.97%
LSCC	Lattice Semiconductor Corp Technology	Added	564,039	+12,716	$52,320,257	+29.0%	1.93%
MELI	Mercadolibre Inc Consumer Cyclical	Added	29,754	+6,515	$51,445,261	+9.9%	1.90%
SNOW	Snowflake Inc. Technology	Added	331,784	+83,325	$50,039,662	−8.2%	1.84%
AAPL	Apple Inc. Technology	Reduced	184,538	-24,396	$46,833,899	−17.5%	1.73%
MRVL	Marvell Technology, Inc. Technology	Added	463,268	+42,911	$45,886,695	+28.5%	1.69%
NU	Nu Holdings Ltd. Financial Services	Added	3,140,490	+74,097	$45,128,841	−12.1%	1.66%
HEI	Heico Corp Industrials	Added	162,462	+48,896	$44,547,080	+21.2%	1.64%
TOST	Toast, Inc. Technology	Added	1,475,513	+178,995	$39,115,849	−15.0%	1.44%
SNPS	Synopsys Inc Technology	Added	97,464	+1,933	$38,642,526	−13.9%	1.42%
DASH	DoorDash, Inc. Consumer Cyclical	Added	238,051	+97,060	$35,743,357	+11.9%	1.32%
AXON	Axon Enterprise, Inc. Industrials	Added	74,069	+19,332	$31,456,363	+1.2%	1.16%
SAIL	SailPoint, Inc. Technology	Added	2,309,076	+349,426	$30,572,166	−22.9%	1.13%
GLBE	Global-E Online Ltd. Consumer Cyclical	Added	979,308	+20,757	$30,211,651	−19.8%	1.11%
MPWR	Monolithic Power Systems Inc Technology	Added	26,679	+470	$29,169,484	+22.8%	1.08%
CSGP	Costar Group, Inc. Real Estate	Added	709,426	+268,064	$28,618,244	−3.6%	1.05%
NET	Cloudflare, Inc. Technology	Added	137,103	+30,566	$28,289,833	+34.7%	1.04%
MSFT	Microsoft Corp Technology	Added	75,548	+1,500	$27,965,603	−21.9%	1.03%
FROG	JFrog Ltd Technology	Added	540,609	+304,362	$25,370,780	+71.9%	0.94%
TEAM	Atlassian Corp Technology	Added	366,298	+82,695	$24,999,838	−45.6%	0.92%
RGEN	Repligen Corp Healthcare	Added	203,225	+4,422	$23,943,969	−26.5%	0.88%
PEN	Penumbra Inc Healthcare	Reduced	68,986	-39,600	$22,652,932	−32.9%	0.84%
ADI	Analog Devices Inc Technology	Added	70,275	+1,396	$22,357,288	+19.7%	0.82%
AFRM	Affirm Holdings, Inc. Financial Services	Added	366,379	+6,288	$16,787,485	−37.4%	0.62%
AMT	American Tower Corp /Ma/ Real Estate	Reduced	91,839	-529,738	$15,849,574	−85.5%	0.58%
COIN	Coinbase Global, Inc. Financial Services	Added	86,743	+1,692	$15,146,195	−21.3%	0.56%
RDDT	Reddit, Inc. Communication Services	Added	96,020	+1,903	$12,929,093	−40.2%	0.48%
SABR	Sabre Corp Technology	NEW	5,508,444	NEW	$7,987,243	NEW	0.29%
HTFL	Heartflow, Inc. Healthcare	Added	290,133	+80,445	$7,058,935	+15.5%	0.26%