NZS Capital, LLC
Reported holdings as of Q2 2026, from 21 quarterly filings.
Holdings
| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| ALPHABET INC | GOOG | $297.2M | 841,068 | +0.43pp | 21q | +10.6%+$28.4M | |
| LAM RESEARCH CORP | LRCX | $231.8M | 535,030 | +1.92pp | 7q | -6.8%-$16.8M | |
| CADENCE DESIGN SYSTEM INC | CDNS | $189.5M | 504,782 | +0.03pp | 21q | -4.3%-$8.5M | |
| AMPHENOL CORP | APH | $180.6M | 1,024,330 | +1.49pp | 21q | +35.0%+$46.8M | |
| NVIDIA CORPORATION | NVDA | $162.3M | 811,031 | +2.21pp | 21q | +135.6%+$93.4M | |
| TEXAS INSTRS INC | TXN | $147.7M | 495,364 | +0.37pp | 21q | -7.2%-$11.5M | |
| KLA CORP | KLAC | $119.4M | 395,646 | +0.98pp | 21q | +816.4%+$106.3M | |
| ROPER TECHNOLOGIES INC | ROP | $108.0M | 319,087 | -0.61pp | 9q | +10.3%+$10.1M | |
| PROGRESSIVE CORP | PGR | $105.8M | 484,418 | -0.43pp | 15q | +1.0%+$1.0M | |
| TRANE TECHNOLOGIES PLC | TT | $97.8M | 199,063 | -0.21pp | 20q | +0.9%+$916.5K | |
| UNITED RENTALS INC | URI | $97.4M | 85,939 | +0.28pp | 15q | -6.9%-$7.2M | |
| LINDE PLC | LIN | $94.5M | 182,134 | -1.35pp | 14q | -20.9%-$24.9M | |
| DANAHER CORP DEL | DHR | $91.0M | 477,506 | -1.17pp | 17q | -14.5%-$15.4M | |
| GALLAGHER ARTHUR J & CO | AJG | $89.4M | 389,613 | -0.35pp | 3q | +5.6%+$4.7M | |
| INTUITIVE SURGICAL INC | ISRG | $86.8M | 218,238 | -0.20pp | 21q | +37.2%+$23.5M | |
| QUANTA SVCS INC | PWR | $86.2M | 119,746 | +0.45pp | 5q | +22.9%+$16.1M | |
| STRYKER CORPORATION | SYK | $81.4M | 258,631 | -0.44pp | 2q | +10.9%+$8.0M | |
| ARM HOLDINGS PLC | ARM | $81.3M | 229,378 | -0.25pp | 9q | -50.9%-$84.4M | |
| SHOPIFY INC | SHOP | $80.4M | 703,753 | -0.09pp | 21q | +27.9%+$17.5M | |
| SNOWFLAKE INC | SNOW | $76.1M | 299,061 | +0.31pp | 7q | -9.9%-$8.3M | |
| MARVELL TECHNOLOGY INC | MRVL | $72.8M | 244,432 | +0.36pp | 6q | -47.2%-$65.2M | |
| DOORDASH INC | DASH | $67.2M | 364,078 | +0.55pp | 14q | +52.9%+$23.3M | |
| INGERSOLL RAND INC | IR | $64.9M | 791,359 | -0.74pp | 5q | -12.8%-$9.6M | |
| AXON ENTERPRISE INC | AXON | $64.1M | 114,386 | +0.61pp | 13q | +54.4%+$22.6M | |
| WORKDAY INC | WDAY | $60.9M | 497,876 | -0.73pp | 4q | -6.4%-$4.2M | |
| MERCADOLIBRE INC | MELI | $58.5M | 34,469 | -0.20pp | 21q | +15.8%+$8.0M | |
| LATTICE SEMICONDUCTOR CORP | LSCC | $54.7M | 357,520 | -0.33pp | 17q | -36.6%-$31.6M | |
| HEICO CORP NEW | HEI | $54.5M | 153,023 | -0.07pp | 9q | -5.8%-$3.4M | |
| HEICO CORP NEW | HEIA | $53.1M | 205,928 | -0.06pp | 9q | +1.0%+$512.0K | |
| APPLE INC | AAPL | $48.9M | 168,904 | -0.29pp | 21q | -8.5%-$4.5M | |
| TYLER TECHNOLOGIES INC | TYL | $47.7M | 163,214 | -1.03pp | 3q | -17.8%-$10.3M | |
| TOAST INC | TOST | $44.8M | 1,610,331 | -0.14pp | 16q | +9.1%+$3.8M | |
| GLOBAL E ONLINE LTD | GLBE | $39.8M | 1,146,508 | +0.03pp | 10q | +17.1%+$5.8M | |
| JFROG LTD | FROG | $39.4M | 433,501 | +0.18pp | 3q | -19.8%-$9.7M | |
| NU HLDGS LTD | NU | $38.8M | 2,902,887 | -0.50pp | 12q | -7.6%-$3.2M | |
| UBER TECHNOLOGIES INC | UBER | $37.7M | 521,959 | -0.81pp | 11q | -29.8%-$16.0M | |
| SAILPOINT INC | SAIL | $37.0M | 2,530,450 | -0.06pp | 6q | +9.6%+$3.2M | |
| CROWDSTRIKE HLDGS INC | CRWD | $36.4M | 47,712 | +0.81pp | 6q | +362.5%+$28.5M | |
| MONOLITHIC PWR SYS INC | MPWR | $35.3M | 25,529 | -0.06pp | 4q | -4.3%-$1.6M | |
| CLOUDFLARE INC | NET | $33.5M | 136,583 | -0.07pp | 21q | HELD | |
| ON SEMICONDUCTOR CORP | ON | $31.7M | 335,531 | - | new | NEW | |
| ATLASSIAN CORPORATION | TEAM | $31.6M | 405,847 | -0.01pp | 7q | +10.8%+$3.1M | |
| REPLIGEN CORP | RGEN | $28.0M | 205,257 | -0.07pp | 13q | +1.0%+$277.2K | |
| DESCARTES SYS GROUP INC | DSGX | $27.6M | 398,945 | - | new | NEW | |
| DATADOG INC | DDOG | $23.2M | 89,200 | - | new | NEW | |
| ANALOG DEVICES INC | ADI | $23.1M | 58,266 | -0.15pp | 4q | -17.1%-$4.8M | |
| REDDIT INC | RDDT | $21.9M | 125,938 | +0.14pp | 6q | +31.2%+$5.2M | |
| LUMENTUM HLDGS INC | LITE | $19.5M | 22,702 | - | new | NEW | |
| HEARTFLOW INC | HTFL | $19.2M | 656,014 | +0.26pp | 3q | +126.1%+$10.7M | |
| MICROSOFT CORP | MSFT | $18.9M | 50,734 | -0.44pp | 21q | -32.8%-$9.3M | |
| COINBASE GLOBAL INC | COIN | $15.1M | 103,468 | -0.11pp | 7q | +19.3%+$2.4M | |
| ZILLOW GROUP INC | Z | $14.0M | 442,953 | -0.45pp | 9q | -24.3%-$4.5M | |
| AMAZON COM INC | AMZN | $13.8M | 57,870 | - | new | NEW | |
| COSTAR GROUP INC | CSGP | $13.5M | 475,551 | -0.61pp | 19q | -33.0%-$6.6M | |
| SYNOPSYS INC | SNPS | $12.9M | 28,972 | -0.95pp | 4q | -70.3%-$30.6M | |
| AXOGEN INC | AXGN | $12.8M | 278,170 | - | new | NEW | |
| SABRE CORP | SABR | $11.5M | 5,511,121 | +0.03pp | 2q | HELD | |
| FIGMA INC | FIG | $11.4M | 631,345 | +0.10pp | 4q | +132.0%+$6.5M | |
| SPOTIFY TECHNOLOGY S A | SPOT | $5.1M | 11,118 | +0.03pp | 3q | +81.0%+$2.3M | |
| SAMSARA INC | IOT | $3.6M | 109,984 | +0.04pp | 2q | +113.5%+$1.9M | |
| SPACE EXPLORATION TECHN CORP | SPCX | $2.4M | 14,068 | - | new | NEW |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Software & IT Services | $1.1B | 29.7% |
| Semiconductors & Electronics | $809.0M | 21.0% |
| Instruments & Controls | $416.1M | 10.8% |
| Industrials | $360.9M | 9.4% |
| Business Services | $288.1M | 7.5% |
| Medical Devices | $200.3M | 5.2% |
| Insurance | $195.3M | 5.1% |
| Autos & Aerospace | $107.6M | 2.8% |
| Chemicals | $94.5M | 2.5% |
| Construction & Building | $86.2M | 2.2% |
| Other sectors | $149.7M | 3.9% |
| Not classified | $2.4M | 0.1% |
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q2 2026 | $3.9B | 61 | 7 | 28 | 24 | 4 | 42.5% | 45 |
| Q1 2026 | $3.0B | 58 | 4 | 44 | 10 | 8 | 39.6% | 45 |
| Q4 2025 | $3.3B | 62 | 5 | 42 | 13 | 4 | 39.6% | 43 |
| Q3 2025 | $3.3B | 61 | 6 | 39 | 13 | 5 | 38.7% | 43 |
| Q2 2025 | $2.9B | 60 | 2 | 47 | 10 | 1 | 39.5% | 44 |
| Q1 2025 | $2.2B | 59 | 6 | 21 | 31 | 6 | 39.8% | 44 |
| Q4 2024 | $2.3B | 59 | 6 | 24 | 29 | 5 | 40.3% | 45 |
| Q3 2024 | $2.6B | 58 | 3 | 40 | 13 | 3 | 40.9% | 45 |
| Q2 2024 | $2.4B | 58 | 9 | 36 | 11 | 5 | 43.8% | 45 |
| Q1 2024 | $2.4B | 54 | 3 | 36 | 14 | 4 | 43.3% | 45 |
| Q4 2023 | $1.9B | 55 | 4 | 30 | 20 | 14 | 43.3% | 45 |
| Q3 2023 | $1.9B | 65 | 3 | 17 | 37 | 2 | 42.0% | 45 |
| Q2 2023 | $2.0B | 64 | 3 | 25 | 33 | 4 | 43.8% | 42 |
| Q1 2023 | $1.9B | 65 | 5 | 53 | 6 | 4 | 42.3% | 42 |
| Q4 2022 | $1.2B | 64 | 8 | 37 | 16 | 11 | 44.2% | 45 |
| Q3 2022 | $1.1B | 67 | 9 | 51 | 7 | 4 | 45.5% | 45 |
| Q2 2022 | $935.0M | 62 | 3 | 47 | 11 | 6 | 44.1% | 46 |
| Q1 2022 | $989.4M | 65 | 7 | 33 | 19 | 10 | 45.3% | 46 |
| Q4 2021 | $1.1B | 68 | 7 | 38 | 22 | 7 | 46.1% | 45 |
| Q3 2021 | $1.0B | 68 | 7 | 24 | 35 | 1 | 43.8% | 43 |
| Q2 2021 | $1.1B | 62 | 0 | 0 | 0 | 0 | 43.0% | 22 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.