Q3 2025 · 13F-HR
NZS Capital, LLCholdings as filed
Filed 2025-11-12 · accession 0001816616-25-000008
$3.27B
Reported value
61
Positions
2025-09-30
Period end
The Brief · NZS Capital, LLC · Q3 2025
AI · grounded in 13F
NZS Capital, LLC established a new position in GOOG valued at $217.1M. The fund also initiated new stakes in CDNS for $180.1M and LRCX for $143.4M. Additional new positions include PGR at $123.6M and APH at $109.2M. The fund ended the period with 61 positions and total AUM of $3.3B.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 02079K107 | GOOG | ALPHABET INC | $217.1M | 6.65% | 891,277 | Common | SOLE |
| 127387108 | CDNS | CADENCE DESIGN SYSTEM INC | $180.1M | 5.52% | 512,744 | Common | SOLE |
| 512807306 | LRCX | LAM RESEARCH CORP | $143.4M | 4.39% | 1,071,186 | Common | SOLE |
| 743315103 | PGR | PROGRESSIVE CORP | $123.6M | 3.79% | 500,597 | Common | SOLE |
| 032095101 | APH | AMPHENOL CORP NEW | $109.2M | 3.34% | 882,126 | Common | SOLE |
| 776696106 | ROP | ROPER TECHNOLOGIES INC | $109.2M | 3.34% | 218,882 | Common | SOLE |
| 98138H101 | WDAY | WORKDAY INC | $97.6M | 2.99% | 405,514 | Common | SOLE |
| 235851102 | DHR | DANAHER CORPORATION | $97.3M | 2.98% | 490,795 | Common | SOLE |
| 82509L107 | SHOP | SHOPIFY INC | $93.8M | 2.87% | 631,397 | Common | SOLE |
| 882508104 | TXN | TEXAS INSTRS INC | $91.7M | 2.81% | 499,162 | Common | SOLE |
| G54950103 | LIN | LINDE PLC | $91.1M | 2.79% | 191,749 | Common | SOLE |
| 911363109 | URI | UNITED RENTALS INC | $91.0M | 2.79% | 95,318 | Common | SOLE |
| 03027X100 | AMT | AMERICAN TOWER CORP NEW | $84.7M | 2.59% | 440,213 | Common | SOLE |
| 45687V106 | IR | INGERSOLL RAND INC | $73.8M | 2.26% | 893,381 | Common | SOLE |
| 337738108 | FISV | FISERV INC | $70.2M | 2.15% | 544,102 | Common | SOLE |
| 366651107 | IT | GARTNER INC | $67.8M | 2.08% | 258,038 | Common | SOLE |
| 042068205 | ARM | ARM HOLDINGS PLC | $63.4M | 1.94% | 447,955 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $62.8M | 1.92% | 336,510 | Common | SOLE |
| 833445109 | SNOW | SNOWFLAKE INC | $55.7M | 1.71% | 247,057 | Common | SOLE |
| G8994E103 | TT | TRANE TECHNOLOGIES PLC | $54.9M | 1.68% | 130,122 | Common | SOLE |
| 74275K108 | PCOR | PROCORE TECHNOLOGIES INC | $54.7M | 1.68% | 750,719 | Common | SOLE |
| 482480100 | KLAC | KLA CORP | $51.2M | 1.57% | 47,511 | Common | SOLE |
| 422806208 | HEI/A | HEICO CORP NEW | $50.2M | 1.54% | 197,632 | Common | SOLE |
| 58733R102 | MELI | MERCADOLIBRE INC | $50.0M | 1.53% | 21,413 | Common | SOLE |
| 518415104 | LSCC | LATTICE SEMICONDUCTOR CORP | $49.2M | 1.51% | 671,146 | Common | SOLE |
| 46120E602 | ISRG | INTUITIVE SURGICAL INC | $49.2M | 1.51% | 110,014 | Common | SOLE |
| G6683N103 | NU | NU HLDGS LTD | $48.6M | 1.49% | 3,038,126 | Common | SOLE |
| 90353T100 | UBER | UBER TECHNOLOGIES INC | $48.6M | 1.49% | 495,767 | Common | SOLE |
| 888787108 | TOST | TOAST INC | $47.0M | 1.44% | 1,286,284 | Common | SOLE |
| 871607107 | SNPS | SYNOPSYS INC | $46.8M | 1.43% | 94,849 | Common | SOLE |
| 573874104 | MRVL | MARVELL TECHNOLOGY INC | $43.5M | 1.33% | 517,331 | Common | SOLE |
| 74762E102 | QURE | QUANTA SVCS INC | $42.3M | 1.30% | 102,073 | Common | SOLE |
| 037833100 | AAPL | APPLE INC | $41.1M | 1.26% | 161,251 | Common | SOLE |
| 78781J109 | SAIL | SAILPOINT INC | $38.6M | 1.18% | 1,747,161 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $38.4M | 1.17% | 74,048 | Common | SOLE |
| 422806109 | HEI | HEICO CORP NEW | $36.3M | 1.11% | 112,446 | Common | SOLE |
| 81764X103 | TTAN | SERVICETITAN INC | $34.5M | 1.06% | 341,747 | Common | SOLE |
| M5216V106 | GLBE | GLOBAL E ONLINE LTD | $34.0M | 1.04% | 950,631 | Common | SOLE |
| 049468101 | TEAM | ATLASSIAN CORPORATION | $33.7M | 1.03% | 211,180 | Common | SOLE |
| 22160N109 | CSGP | COSTAR GROUP INC | $31.5M | 0.96% | 373,432 | Common | SOLE |
| 192422103 | CGNX | COGNEX CORP | $31.1M | 0.95% | 685,976 | Common | SOLE |
| 25809K105 | DASH | DOORDASH INC | $29.5M | 0.90% | 108,555 | Common | SOLE |
| 19260Q107 | COIN | COINBASE GLOBAL INC | $28.5M | 0.87% | 84,337 | Common | SOLE |
| 759916109 | RGEN | REPLIGEN CORP | $26.3M | 0.81% | 196,777 | Common | SOLE |
| 00827B106 | AFRM | AFFIRM HLDGS INC | $26.1M | 0.80% | 356,926 | Common | SOLE |
| 169656105 | CMG | CHIPOTLE MEXICAN GRILL INC | $25.9M | 0.79% | 660,172 | Common | SOLE |
| 98954M200 | Z | ZILLOW GROUP INC | $24.9M | 0.76% | 322,803 | Common | SOLE |
| 81762P102 | NOW | SERVICENOW INC | $24.4M | 0.75% | 26,485 | Common | SOLE |
| 609839105 | MPWR | MONOLITHIC PWR SYS INC | $23.9M | 0.73% | 26,000 | Common | SOLE |
| 18915M107 | NET | CLOUDFLARE INC | $22.7M | 0.69% | 105,753 | Common | SOLE |
| 70975L107 | PEN | PENUMBRA INC | $22.0M | 0.67% | 86,984 | Common | SOLE |
| 75734B100 | RDDT | REDDIT INC | $21.5M | 0.66% | 93,295 | Common | SOLE |
| 05464C101 | AXON | AXON ENTERPRISE INC | $20.4M | 0.62% | 28,375 | Common | SOLE |
| 339750101 | FND | FLOOR & DECOR HLDGS INC | $19.7M | 0.60% | 267,750 | Common | SOLE |
| 79466L302 | CRM | SALESFORCE INC | $19.2M | 0.59% | 80,846 | Common | SOLE |
| M7S64H106 | MNDY | MONDAY COM LTD | $12.6M | 0.39% | 65,087 | Common | SOLE |
| 032654105 | ADI | ANALOG DEVICES INC | $12.0M | 0.37% | 48,914 | Common | SOLE |
| 316841105 | FIG | FIGMA INC | $8.1M | 0.25% | 155,582 | Common | SOLE |
| 64110L106 | NFLX | NETFLIX INC | $7.3M | 0.22% | 6,107 | Common | SOLE |
| 52567D107 | LMND | LEMONADE INC | $6.9M | 0.21% | 129,084 | Common | SOLE |
| 22788C105 | CRWD | CROWDSTRIKE HLDGS INC | $5.0M | 0.15% | 10,111 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.