SEC 13F Intelligence

Managers / Q2 2025 · view latest →

NZS Capital, LLC

CIK 0001816616 · 1756 PLATTE STREET, DENVER, CO, 80202 · 7202829746

Reported Value
$2.9B
Q2 2025
Positions
60
Filings on Record
20
2019–present window
Filed
Aug 13, 2025
original filing

Summary

Nzs Capital, LLC reported $2.9B in U.S.-listed holdings across 60 positions for Q2 2025.

Its largest position, GOOG, represents 5.9% of the portfolio.

Compared with Q1 2025, the fund opened 2 new positions and exited 1.

Portfolio Metrics

Turnover
+3.5%
vs prior filed quarter
Top-10 Concentration
+39.5%
share of reported value
Largest Position
+5.9%
Alphabet
New / Exited
2 / 1
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q2 ’21: $1.1BQ2 ’21Q3 ’21: $1.0BQ4 ’21: $1.1BQ1 ’22: $989MQ1 ’22Q2 ’22: $935MQ3 ’22: $1.1BQ4 ’22: $1.2BQ4 ’22Q1 ’23: $1.9BQ2 ’23: $2.0BQ3 ’23: $1.9BQ3 ’23Q4 ’23: $1.9BQ1 ’24: $2.4BQ2 ’24: $2.4BQ2 ’24Q3 ’24: $2.6BQ4 ’24: $2.3BQ1 ’25: $2.2BQ1 ’25Q2 ’25: $2.9BQ3 ’25: $3.3BQ4 ’25: $3.3BQ4 ’25Q1 ’26: $3.0Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 86.9%Other: 8.7%REIT: 2.5%ADR: 1.9%
  • Common Stock · 86.9% · $2.6B
  • Other · 8.7% · $256M
  • REIT · 2.5% · $74M
  • ADR · 1.9% · $55M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
IRINGERSOLL RAND INCNEW+460.5K460.5K+$38M$38M
PWRQUANTA SVCS INCNEW+59.5K59.5K+$22M$22M
SAILSAILPOINT INCADDED+517.5K609.5K+$12M$14M
CPRTCOPART INCSOLD OUT−710.6K0−$40M$0
MRVLMARVELL TECHNOLOGY INCADDED+213.8K489.0K+$21M$38M
COINCOINBASE GLOBAL INCADDED+42.6K97.9K+$25M$34M
ARMARM HOLDINGS PLCADDED+145.9K337.2K+$34M$55M
TTANSERVICETITAN INCADDED+87.5K235.8K+$11M$25M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q2 2025

49 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1GOOGALPHABET INChistory →CAP STK CL C5.88%$173M975.9K
2CDNSCADENCE DESIGN SYSTEM INChistory →COM5.54%$163M528.8K
3NVDANVIDIA CORPORATIONhistory →COM4.79%$141M891.3K
4APHAMPHENOL CORP NEWhistory →CL A4.44%$131M1.32M
5PGRPROGRESSIVE CORPhistory →COM3.70%$109M408.4K
6LRCXLAM RESEARCH CORPhistory →COM NEW3.49%$103M1.05M
7TXNTEXAS INSTRS INChistory →COM3.08%$91M436.1K
8MCHPMICROCHIP TECHNOLOGY INC.history →COM2.94%$87M1.23M
9HEI/AHEICO CORP NEWCL A · COM2.88%$85M296.7K
10URIUNITED RENTALS INChistory →COM2.83%$83M110.6K
11ROPROPER TECHNOLOGIES INChistory →COM2.81%$83M145.8K
12TRANE TECHNOLOGIES PLCSHS2.60%$76M174.8K
13DHRDANAHER CORPORATIONhistory →COM2.58%$76M383.6K
14AMTAMERICAN TOWER CORP NEWhistory →COM2.51%$74M334.4K
15FISVFISERV INChistory →COM2.50%$73M426.0K
16LINDE PLCSHS2.44%$72M153.3K
17SHOPSHOPIFY INChistory →CL A2.39%$70M608.7K
18ADSKAUTODESK INChistory →COM2.14%$63M202.9K
19NETCLOUDFLARE INChistory →CL A COM2.00%$59M300.5K
20MLB1MERCADOLIBRE INChistory →COM1.89%$55M21.2K
21ARMARM HOLDINGS PLChistory →SPONSORED ADS1.85%$55M337.2K
22TOSTTOAST INChistory →CL A1.82%$54M1.21M
23SNOWSNOWFLAKE INChistory →CL A1.78%$52M233.5K
24PCORPROCORE TECHNOLOGIES INChistory →COM1.74%$51M748.2K
25KLACKLA CORPhistory →COM NEW1.73%$51M56.7K
26CYBERARK SOFTWARE LTDSHS1.61%$47M116.7K
27UBERUBER TECHNOLOGIES INChistory →COM1.48%$43M465.7K
28TEAM1EURATLASSIAN CORPORATIONhistory →CL A1.38%$41M200.0K
29IRINGERSOLL RAND INChistory →COM1.30%$38M460.5K
30MRVLMARVELL TECHNOLOGY INChistory →COM1.29%$38M489.0K
31ISRGINTUITIVE SURGICAL INChistory →COM NEW1.26%$37M68.3K
32MSFTMICROSOFT CORPhistory →COM1.25%$37M74.0K
33CMGCHIPOTLE MEXICAN GRILL INChistory →COM1.17%$34M612.2K
34COINCOINBASE GLOBAL INChistory →COM CL A1.17%$34M97.9K
35NU HLDGS LTDORD SHS CL A1.12%$33M2.40M
36LSCCLATTICE SEMICONDUCTOR CORPhistory →COM1.05%$31M633.0K
37CGNXCOGNEX CORPhistory →COM1.04%$31M962.3K
38CSGPCOSTAR GROUP INChistory →COM0.96%$28M350.5K
39AFRMAFFIRM HLDGS INChistory →COM CL A0.89%$26M378.3K
40TTANSERVICETITAN INChistory →SHS CL A0.86%$25M235.8K
41ONON SEMICONDUCTOR CORPhistory →COM0.79%$23M445.4K
42AAPLAPPLE INChistory →COM0.79%$23M113.1K
43GLOBAL E ONLINE LTDSHS0.78%$23M682.3K
44PWRQUANTA SVCS INChistory →COM0.76%$22M59.5K
45DASHDOORDASH INChistory →CL A0.76%$22M91.2K
46AXONAXON ENTERPRISE INChistory →COM0.75%$22M26.7K
47ZZILLOW GROUP INChistory →CL C CAP STK0.72%$21M302.4K
48RGENREPLIGEN CORPhistory →COM0.61%$18M145.3K
49PENPENUMBRA INChistory →COM0.61%$18M69.6K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$3.0B58May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$3.3B62Feb 12, 202613F-HRchanges · EDGAR ↗
Q3 2025$3.3B61Nov 12, 202513F-HRchanges · EDGAR ↗
Q2 2025$2.9B60Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$2.2B59May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$2.3B59Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$2.6B58Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$2.4B58Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$2.4B54May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$1.9B55Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$1.9B65Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$2.0B64Aug 11, 202313F-HRchanges · EDGAR ↗
Q1 2023$1.9B65May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$1.2B64Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$1.1B67Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$935M62Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$989M65May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$1.1B68Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$1.0B68Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$1.1B62Jul 22, 202113F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.