NZS Capital, LLC 13F holdings, Q3 2025
Holdings as of September 30, 2025 · filings on SEC EDGAR · latest filing →
NZS Capital, LLC disclosed 61 US equity positions worth $3.3bn in its Q3 2025 13F filing. The largest position was GOOG at 6.6% of the reported book, followed by CDNS and LRCX. Against the Q2 2025 filing, it opened 4 new positions, added to 32 and reduced 12 among the top 50 holdings.
What did NZS Capital, LLC own in Q3 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q2 2025 |
|---|---|---|---|---|---|---|---|
| 1 | GOOG ALPHABET INC | Communication Services | 6.6% | $217.1m | 891,277 | -9% | reduced |
| 2 | CDNS CADENCE DESIGN SYSTEM INC | Technology | 5.5% | $180.1m | 512,744 | -3% | reduced |
| 3 | LRCX LAM RESEARCH CORP | Technology | 4.4% | $143.4m | 1,071,186 | 2% | added |
| 4 | PGR PROGRESSIVE CORP | Financial Services | 3.8% | $123.6m | 500,597 | 23% | added |
| 5 | APH AMPHENOL CORP NEW | Technology | 3.3% | $109.2m | 882,126 | -33% | reduced |
| 6 | ROP ROPER TECHNOLOGIES INC | Technology | 3.3% | $109.2m | 218,882 | 50% | added |
| 7 | WDAY WORKDAY INC | Technology | 3.0% | $97.6m | 405,514 | – | new |
| 8 | DHR DANAHER CORPORATION | Healthcare | 3.0% | $97.3m | 490,795 | 28% | added |
| 9 | SHOP SHOPIFY INC | Technology | 2.9% | $93.8m | 631,397 | 4% | added |
| 10 | TXN TEXAS INSTRS INC | Technology | 2.8% | $91.7m | 499,162 | 14% | added |
| 11 | LIN LINDE PLC | Basic Materials | 2.8% | $91.1m | 191,749 | 25% | added |
| 12 | URI UNITED RENTALS INC | Industrials | 2.8% | $91.0m | 95,318 | -14% | reduced |
| 13 | AMT AMERICAN TOWER CORP NEW | Real Estate | 2.6% | $84.7m | 440,213 | 32% | added |
| 14 | IR INGERSOLL RAND INC | Industrials | 2.3% | $73.8m | 893,381 | 94% | added |
| 15 | FISV FISERV INC | 2.1% | $70.2m | 544,102 | 28% | added | |
| 16 | IT GARTNER INC | Technology | 2.1% | $67.8m | 258,038 | – | new |
| 17 | ARM ARM HOLDINGS PLC | Technology | 1.9% | $63.4m | 447,955 | 33% | added |
| 18 | NVDA NVIDIA CORPORATION | Technology | 1.9% | $62.8m | 336,510 | -62% | reduced |
| 19 | SNOW SNOWFLAKE INC | Technology | 1.7% | $55.7m | 247,057 | 6% | added |
| 20 | TT TRANE TECHNOLOGIES PLC | Industrials | 1.7% | $54.9m | 130,122 | -26% | reduced |
| 21 | PCOR PROCORE TECHNOLOGIES INC | Technology | 1.7% | $54.7m | 750,719 | 0% | held |
| 22 | KLAC KLA CORP | Technology | 1.6% | $51.2m | 47,511 | -16% | reduced |
| 23 | HEI/A HEICO CORP NEW | 1.5% | $50.2m | 197,632 | 8% | added | |
| 24 | MELI MERCADOLIBRE INC | Consumer Cyclical | 1.5% | $50.0m | 21,413 | 1% | added |
| 25 | LSCC LATTICE SEMICONDUCTOR CORP | Technology | 1.5% | $49.2m | 671,146 | 6% | added |
| 26 | ISRG INTUITIVE SURGICAL INC | Healthcare | 1.5% | $49.2m | 110,014 | 61% | added |
| 27 | NU NU HLDGS LTD | Financial Services | 1.5% | $48.6m | 3,038,126 | 27% | added |
| 28 | UBER UBER TECHNOLOGIES INC | Technology | 1.5% | $48.6m | 495,767 | 6% | added |
| 29 | TOST TOAST INC | Technology | 1.4% | $47.0m | 1,286,284 | 6% | added |
| 30 | SNPS SYNOPSYS INC | Technology | 1.4% | $46.8m | 94,849 | – | new |
| 31 | MRVL MARVELL TECHNOLOGY INC | Technology | 1.3% | $43.5m | 517,331 | 6% | added |
| 32 | PWR QUANTA SVCS INC | Industrials | 1.3% | $42.3m | 102,073 | 72% | added |
| 33 | AAPL APPLE INC | Technology | 1.3% | $41.1m | 161,251 | 43% | added |
| 34 | SAIL SAILPOINT INC | Technology | 1.2% | $38.6m | 1,747,161 | 187% | added |
| 35 | MSFT MICROSOFT CORP | Technology | 1.2% | $38.4m | 74,048 | 0% | held |
| 36 | HEI HEICO CORP NEW | Industrials | 1.1% | $36.3m | 112,446 | -1% | reduced |
| 37 | TTAN SERVICETITAN INC | Technology | 1.1% | $34.5m | 341,747 | 45% | added |
| 38 | GLBE GLOBAL E ONLINE LTD | Consumer Cyclical | 1.0% | $34.0m | 950,631 | 39% | added |
| 39 | TEAM ATLASSIAN CORPORATION | Technology | 1.0% | $33.7m | 211,180 | 6% | added |
| 40 | CSGP COSTAR GROUP INC | Real Estate | 1.0% | $31.5m | 373,432 | 7% | added |
| 41 | CGNX COGNEX CORP | Technology | 1.0% | $31.1m | 685,976 | -29% | reduced |
| 42 | DASH DOORDASH INC | Consumer Cyclical | 0.9% | $29.5m | 108,555 | 19% | added |
| 43 | COIN COINBASE GLOBAL INC | Financial Services | 0.9% | $28.5m | 84,337 | -14% | reduced |
| 44 | RGEN REPLIGEN CORP | Healthcare | 0.8% | $26.3m | 196,777 | 35% | added |
| 45 | AFRM AFFIRM HLDGS INC | Financial Services | 0.8% | $26.1m | 356,926 | -6% | reduced |
| 46 | CMG CHIPOTLE MEXICAN GRILL INC | Consumer Cyclical | 0.8% | $25.9m | 660,172 | 8% | added |
| 47 | Z ZILLOW GROUP INC | Communication Services | 0.8% | $24.9m | 322,803 | 7% | added |
| 48 | NOW SERVICENOW INC | Technology | 0.7% | $24.4m | 26,485 | 446% | added |
| 49 | MPWR MONOLITHIC PWR SYS INC | Technology | 0.7% | $23.9m | 26,000 | – | new |
| 50 | NET CLOUDFLARE INC | Technology | 0.7% | $22.7m | 105,753 | -65% | reduced |
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.