NZS Capital, LLC 13F holdings, Q2 2025
Holdings as of June 30, 2025 · filings on SEC EDGAR · latest filing →
NZS Capital, LLC disclosed 60 US equity positions worth $2.9bn in its Q2 2025 13F filing. The largest position was GOOG at 5.9% of the reported book, followed by CDNS and NVDA. Against the Q1 2025 filing, it opened 2 new positions, added to 39 and reduced 8 among the top 50 holdings.
What did NZS Capital, LLC own in Q2 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q1 2025 |
|---|---|---|---|---|---|---|---|
| 1 | GOOG ALPHABET INC | Communication Services | 5.9% | $173.1m | 975,863 | 5% | added |
| 2 | CDNS CADENCE DESIGN SYSTEM INC | Technology | 5.5% | $163.0m | 528,839 | 18% | added |
| 3 | NVDA NVIDIA CORPORATION | Technology | 4.8% | $140.8m | 891,332 | 25% | added |
| 4 | APH AMPHENOL CORP NEW | Technology | 4.4% | $130.6m | 1,322,943 | -4% | reduced |
| 5 | PGR PROGRESSIVE CORP | Financial Services | 3.7% | $109.0m | 408,366 | 21% | added |
| 6 | LRCX LAM RESEARCH CORP | Technology | 3.5% | $102.7m | 1,054,878 | 13% | added |
| 7 | TXN TEXAS INSTRS INC | Technology | 3.1% | $90.6m | 436,139 | 8% | added |
| 8 | MCHP MICROCHIP TECHNOLOGY INC. | Technology | 2.9% | $86.6m | 1,231,066 | 15% | added |
| 9 | URI UNITED RENTALS INC | Industrials | 2.8% | $83.3m | 110,618 | 11% | added |
| 10 | ROP ROPER TECHNOLOGIES INC | Technology | 2.8% | $82.6m | 145,769 | 7% | added |
| 11 | TT TRANE TECHNOLOGIES PLC | Industrials | 2.6% | $76.4m | 174,763 | 2% | added |
| 12 | DHR DANAHER CORPORATION | Healthcare | 2.6% | $75.8m | 383,634 | 35% | added |
| 13 | AMT AMERICAN TOWER CORP NEW | Real Estate | 2.5% | $73.9m | 334,424 | 29% | added |
| 14 | FISV FISERV INC | 2.5% | $73.5m | 426,049 | 19% | added | |
| 15 | LIN LINDE PLC | Basic Materials | 2.4% | $71.9m | 153,259 | 27% | added |
| 16 | SHOP SHOPIFY INC | Technology | 2.4% | $70.2m | 608,677 | 15% | added |
| 17 | ADSK AUTODESK INC | Technology | 2.1% | $62.8m | 202,937 | 15% | added |
| 18 | NET CLOUDFLARE INC | Technology | 2.0% | $58.8m | 300,505 | 0% | held |
| 19 | MELI MERCADOLIBRE INC | Consumer Cyclical | 1.9% | $55.5m | 21,228 | 9% | added |
| 20 | ARM ARM HOLDINGS PLC | Technology | 1.9% | $54.5m | 337,190 | 76% | added |
| 21 | TOST TOAST INC | Technology | 1.8% | $53.7m | 1,212,237 | 8% | added |
| 22 | SNOW SNOWFLAKE INC | Technology | 1.8% | $52.2m | 233,453 | 11% | added |
| 23 | PCOR PROCORE TECHNOLOGIES INC | Technology | 1.7% | $51.2m | 748,201 | 39% | added |
| 24 | KLAC KLA CORP | Technology | 1.7% | $50.8m | 56,700 | -3% | reduced |
| 25 | CYBERARK SOFTWARE LTD | 1.6% | $47.5m | 116,707 | 28% | added | |
| 26 | HEI/A HEICO CORP NEW | 1.6% | $47.4m | 183,272 | 10% | added | |
| 27 | UBER UBER TECHNOLOGIES INC | Technology | 1.5% | $43.4m | 465,654 | -18% | reduced |
| 28 | TEAM ATLASSIAN CORPORATION | Technology | 1.4% | $40.6m | 199,961 | 26% | added |
| 29 | IR INGERSOLL RAND INC | Industrials | 1.3% | $38.3m | 460,512 | – | new |
| 30 | MRVL MARVELL TECHNOLOGY INC | Technology | 1.3% | $37.8m | 488,953 | 78% | added |
| 31 | HEI HEICO CORP NEW | Industrials | 1.3% | $37.2m | 113,446 | -17% | reduced |
| 32 | ISRG INTUITIVE SURGICAL INC | Healthcare | 1.3% | $37.1m | 68,306 | 9% | added |
| 33 | MSFT MICROSOFT CORP | Technology | 1.3% | $36.8m | 74,048 | -55% | reduced |
| 34 | CMG CHIPOTLE MEXICAN GRILL INC | Consumer Cyclical | 1.2% | $34.4m | 612,205 | 37% | added |
| 35 | COIN COINBASE GLOBAL INC | Financial Services | 1.2% | $34.3m | 97,915 | 77% | added |
| 36 | NU NU HLDGS LTD | Financial Services | 1.1% | $32.9m | 2,400,684 | 20% | added |
| 37 | LSCC LATTICE SEMICONDUCTOR CORP | Technology | 1.1% | $31.0m | 633,031 | 28% | added |
| 38 | CGNX COGNEX CORP | Technology | 1.0% | $30.5m | 962,284 | 8% | added |
| 39 | CSGP COSTAR GROUP INC | Real Estate | 1.0% | $28.2m | 350,527 | -12% | reduced |
| 40 | AFRM AFFIRM HLDGS INC | Financial Services | 0.9% | $26.2m | 378,330 | 36% | added |
| 41 | TTAN SERVICETITAN INC | Technology | 0.9% | $25.3m | 235,803 | 59% | added |
| 42 | ON ON SEMICONDUCTOR CORP | Technology | 0.8% | $23.3m | 445,379 | 13% | added |
| 43 | AAPL APPLE INC | Technology | 0.8% | $23.2m | 113,080 | 26% | added |
| 44 | GLBE GLOBAL E ONLINE LTD | Consumer Cyclical | 0.8% | $22.9m | 682,303 | 16% | added |
| 45 | PWR QUANTA SVCS INC | Industrials | 0.8% | $22.5m | 59,468 | – | new |
| 46 | DASH DOORDASH INC | Consumer Cyclical | 0.8% | $22.5m | 91,153 | -39% | reduced |
| 47 | AXON AXON ENTERPRISE INC | Industrials | 0.8% | $22.1m | 26,723 | -45% | reduced |
| 48 | Z ZILLOW GROUP INC | Communication Services | 0.7% | $21.2m | 302,430 | 9% | added |
| 49 | RGEN REPLIGEN CORP | Healthcare | 0.6% | $18.1m | 145,294 | 10% | added |
| 50 | PEN PENUMBRA INC | Healthcare | 0.6% | $17.9m | 69,629 | 10% | added |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.