NZS Capital, LLC 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
NZS Capital, LLC disclosed 62 US equity positions worth $3.3bn in its Q4 2025 13F filing. The largest position was GOOG at 7.8% of the reported book, followed by CDNS and DHR. Against the Q3 2025 filing, it opened 1 new position, added to 36 and reduced 12 among the top 50 holdings.
What did NZS Capital, LLC own in Q4 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | GOOG ALPHABET INC | Communication Services | 7.8% | $255.9m | 815,373 | -9% | reduced |
| 2 | CDNS CADENCE DESIGN SYSTEM INC | Technology | 4.5% | $146.9m | 469,857 | -8% | reduced |
| 3 | DHR DANAHER CORPORATION | Healthcare | 4.4% | $144.4m | 630,666 | 28% | added |
| 4 | LRCX LAM RESEARCH CORP | Technology | 3.9% | $126.6m | 739,673 | -31% | reduced |
| 5 | AMT AMERICAN TOWER CORP NEW | Real Estate | 3.3% | $109.1m | 621,577 | 41% | added |
| 6 | PGR PROGRESSIVE CORP | Financial Services | 3.3% | $106.7m | 468,365 | -6% | reduced |
| 7 | WDAY WORKDAY INC | Technology | 3.2% | $104.9m | 488,576 | 20% | added |
| 8 | LIN LINDE PLC | Basic Materials | 3.2% | $104.2m | 244,345 | 27% | added |
| 9 | ROP ROPER TECHNOLOGIES INC | Technology | 3.1% | $100.7m | 226,315 | 3% | added |
| 10 | TXN TEXAS INSTRS INC | Technology | 2.8% | $90.6m | 522,259 | 5% | added |
| 11 | IR INGERSOLL RAND INC | Industrials | 2.4% | $77.8m | 982,491 | 10% | added |
| 12 | IT GARTNER INC | Technology | 2.3% | $76.0m | 301,284 | 17% | added |
| 13 | TT TRANE TECHNOLOGIES PLC | Industrials | 2.3% | $75.0m | 192,774 | 48% | added |
| 14 | URI UNITED RENTALS INC | Industrials | 2.2% | $73.0m | 90,145 | -5% | reduced |
| 15 | APH AMPHENOL CORP NEW | Technology | 2.0% | $65.7m | 485,926 | -45% | reduced |
| 16 | ISRG INTUITIVE SURGICAL INC | Healthcare | 1.9% | $62.9m | 111,005 | 1% | added |
| 17 | SHOP SHOPIFY INC | Technology | 1.9% | $61.1m | 379,328 | -40% | reduced |
| 18 | AJG GALLAGHER ARTHUR J & CO | Financial Services | 1.8% | $59.4m | 229,704 | – | new |
| 19 | UBER UBER TECHNOLOGIES INC | Technology | 1.8% | $59.2m | 724,254 | 46% | added |
| 20 | KLAC KLA CORP | Technology | 1.7% | $56.9m | 46,815 | -1% | reduced |
| 21 | AAPL APPLE INC | Technology | 1.7% | $56.8m | 208,934 | 30% | added |
| 22 | PCOR PROCORE TECHNOLOGIES INC | Technology | 1.7% | $56.2m | 773,108 | 3% | added |
| 23 | NVDA NVIDIA CORPORATION | Technology | 1.7% | $54.9m | 294,117 | -13% | reduced |
| 24 | SNOW SNOWFLAKE INC | Technology | 1.7% | $54.5m | 248,459 | 1% | added |
| 25 | NU NU HLDGS LTD | Financial Services | 1.6% | $51.3m | 3,066,393 | 1% | added |
| 26 | HEI/A HEICO CORP NEW | 1.5% | $50.4m | 199,636 | 1% | added | |
| 27 | MELI MERCADOLIBRE INC | Consumer Cyclical | 1.4% | $46.8m | 23,239 | 9% | added |
| 28 | TOST TOAST INC | Technology | 1.4% | $46.0m | 1,296,518 | 1% | added |
| 29 | TEAM ATLASSIAN CORPORATION | Technology | 1.4% | $46.0m | 283,603 | 34% | added |
| 30 | ARM ARM HOLDINGS PLC | Technology | 1.4% | $45.0m | 411,748 | -8% | reduced |
| 31 | SNPS SYNOPSYS INC | Technology | 1.4% | $44.9m | 95,531 | 1% | added |
| 32 | PWR QUANTA SVCS INC | Industrials | 1.3% | $43.6m | 103,258 | 1% | added |
| 33 | LSCC LATTICE SEMICONDUCTOR CORP | Technology | 1.2% | $40.6m | 551,323 | -18% | reduced |
| 34 | SAIL SAILPOINT INC | Technology | 1.2% | $39.6m | 1,959,650 | 12% | added |
| 35 | TTAN SERVICETITAN INC | Technology | 1.2% | $38.6m | 362,203 | 6% | added |
| 36 | GLBE GLOBAL E ONLINE LTD | Consumer Cyclical | 1.2% | $37.7m | 958,551 | 1% | added |
| 37 | HEI HEICO CORP NEW | Industrials | 1.1% | $36.7m | 113,566 | 1% | added |
| 38 | MSFT MICROSOFT CORP | Technology | 1.1% | $35.8m | 74,048 | 0% | held |
| 39 | MRVL MARVELL TECHNOLOGY INC | Technology | 1.1% | $35.7m | 420,357 | -19% | reduced |
| 40 | PEN PENUMBRA INC | Healthcare | 1.0% | $33.8m | 108,586 | 25% | added |
| 41 | RGEN REPLIGEN CORP | Healthcare | 1.0% | $32.6m | 198,803 | 1% | added |
| 42 | DASH DOORDASH INC | Consumer Cyclical | 1.0% | $31.9m | 140,991 | 30% | added |
| 43 | AXON AXON ENTERPRISE INC | Industrials | 1.0% | $31.1m | 54,737 | 93% | added |
| 44 | CSGP COSTAR GROUP INC | Real Estate | 0.9% | $29.7m | 441,362 | 18% | added |
| 45 | AFRM AFFIRM HLDGS INC | Financial Services | 0.8% | $26.8m | 360,091 | 1% | added |
| 46 | Z ZILLOW GROUP INC | Communication Services | 0.8% | $26.4m | 386,733 | 20% | added |
| 47 | CGNX COGNEX CORP | Technology | 0.8% | $24.9m | 692,849 | 1% | added |
| 48 | MPWR MONOLITHIC PWR SYS INC | Technology | 0.7% | $23.8m | 26,209 | 1% | added |
| 49 | NOW SERVICENOW INC | Technology | 0.7% | $21.9m | 142,676 | 439% | added |
| 50 | RDDT REDDIT INC | Communication Services | 0.7% | $21.6m | 94,117 | 1% | 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.