NZS Capital, LLC
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), NZS Capital, LLC reported 61 stock positions worth $3.9 billion. Its top holding was Alphabet Class C (GOOG) at 7.7% of the portfolio, followed by Lam Research (LRCX, 6.0%) and Cadence Design SYS (CDNS, 4.9%). Compared with Q1 2026, it opened 7 new positions, sold out of 4, added to 28 and reduced 26. The biggest buy was Nvidia (NVDA, shares +136%) and the biggest sale Linde (LIN, shares −21%).
- Most Recent 13F
- Q2 2026
- Location
- DENVER, CO
- CIK
- 0001816616
- Portfolio Value
- $3.9B (Q2 2026)
- SEC Filing
- 0001816616-26-000004 ↗ filed Aug 14, 2026
Holdings Value
Holdings 61 stocks · $3.9B
| GOOG Alphabet Inc. Class C | 7.71% | 841,068 | $297.2M | Add +10.6% |
| LRCX Lam Research Corp. | 6.01% | 535,030 | $231.8M | Reduce -6.8% |
| CDNS Cadence Design SYS Inc. | 4.91% | 504,782 | $189.5M | Reduce -4.3% |
| APH Amphenol Corp. Class A | 4.68% | 1,024,330 | $180.6M | Add +35.0% |
| NVDA Nvidia Corp. | 4.21% | 811,031 | $162.3M | Add +135.6% |
| TXN Texas Instruments Inc. | 3.83% | 495,364 | $147.7M | Reduce -7.2% |
| KLAC KLA Corp. | 3.10% | 395,646 | $119.4M | Reduce -8.4% |
| ROP Roper Technologies Inc. | 2.80% | 319,087 | $108.0M | Add +10.3% |
| PGR Progressive Corp. | 2.74% | 484,418 | $105.8M | Add +1.0% |
| TT Trane Technologies PLC | 2.54% | 199,063 | $97.8M | Add +0.9% |
| URI United Rentals Inc. | 2.53% | 85,939 | $97.4M | Reduce -6.9% |
| LIN Linde PLC | 2.45% | 182,134 | $94.5M | Reduce -20.9% |
| DHR Danaher Corp. | 2.36% | 477,506 | $91.0M | Reduce -14.5% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 2.32% | 389,613 | $89.4M | Add +5.6% |
| ISRG Intuitive Surgical Inc. | 2.25% | 218,238 | $86.8M | Add +37.2% |
| PWR Quanta Services Inc. | 2.24% | 119,746 | $86.2M | Add +22.9% |
| SYK Stryker Corp. | 2.11% | 258,631 | $81.4M | Add +10.9% |
| ARM Arm Holdings PLC-ADR | 2.11% | 229,378 | $81.3M | Reduce -50.9% |
| SHOP Shopify Inc. Class A | 2.08% | 703,753 | $80.4M | Add +27.9% |
| SNOW Snowflake Inc. | 1.97% | 299,061 | $76.1M | Reduce -9.9% |
| MRVL Marvell Technology Inc. | 1.89% | 244,432 | $72.8M | Reduce -47.2% |
| DASH DoorDash Inc. Class A | 1.74% | 364,078 | $67.2M | Add +52.9% |
| IR Ingersoll-Rand Inc. | 1.68% | 791,359 | $64.9M | Reduce -12.8% |
| AXON Axon Enterprise Inc. | 1.66% | 114,386 | $64.1M | Add +54.4% |
| WDAY Workday Inc. Class A | 1.58% | 497,876 | $60.9M | Reduce -6.4% |
| MELI MercadoLibre Inc. | 1.52% | 34,469 | $58.5M | Add +15.8% |
| LSCC Lattice Semiconductor Corp. | 1.42% | 357,520 | $54.7M | Reduce -36.6% |
| HEI Heico Corp. | 1.41% | 153,023 | $54.5M | Reduce -5.8% |
| HEI.A Heico Corp. Class A | 1.38% | 205,928 | $53.1M | Add +1.0% |
| AAPL Apple Inc. | 1.27% | 168,904 | $48.9M | Reduce -8.5% |
| TYL Tyler Technologies Inc. | 1.24% | 163,214 | $47.7M | Reduce -17.8% |
| TOST Toast Inc. Class A | 1.16% | 1,610,331 | $44.8M | Add +9.1% |
| GLBE Global-E Online Ltd. | 1.03% | 1,146,508 | $39.8M | Add +17.1% |
| FROG Jfrog Ltd. | 1.02% | 433,501 | $39.4M | Reduce -19.8% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 1.01% | 2,902,887 | $38.8M | Reduce -7.6% |
| UBER Uber Technologies Inc. | 0.98% | 521,959 | $37.7M | Reduce -29.8% |
| SAIL Sailpoint Inc. | 0.96% | 2,530,450 | $37.0M | Add +9.6% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.94% | 47,712 | $36.4M | Add +362.5% |
| MPWR Monolithic Power Systems Inc. | 0.92% | 25,529 | $35.3M | Reduce -4.3% |
| NET Cloudflare Inc. Class A | 0.87% | 136,583 | $33.5M | Reduce -0.4% |
| ON On Semiconductor | 0.82% | 335,531 | $31.7M | New |
| TEAM Atlassian Corp. Class A | 0.82% | 405,847 | $31.6M | Add +10.8% |
| RGEN Repligen Corp. | 0.73% | 205,257 | $28.0M | Add +1.0% |
| DSGX The Descartes Systems Grp | 0.72% | 398,945 | $27.6M | New |
| DDOG Datadog Inc. Class A | 0.60% | 89,200 | $23.2M | New |
| ADI Analog Devices Inc. | 0.60% | 58,266 | $23.1M | Reduce -17.1% |
| RDDT Reddit Inc. Class A | 0.57% | 125,938 | $21.9M | Add +31.2% |
| LITE Lumentum Holdings Inc. | 0.51% | 22,702 | $19.5M | New |
| HTFL Heartflow Inc. | 0.50% | 656,014 | $19.2M | Add +126.1% |
| MSFT Microsoft Corp. | 0.49% | 50,734 | $18.9M | Reduce -32.9% |
| COIN Coinbase Global Inc. Class A | 0.39% | 103,468 | $15.1M | Add +19.3% |
| Z Zillow Group Inc. Class C | 0.36% | 442,953 | $14.0M | Reduce -24.3% |
| AMZN Amazon.com Inc. | 0.36% | 57,870 | $13.8M | New |
| CSGP Costar Group Inc. | 0.35% | 475,551 | $13.5M | Reduce -33.0% |
| SNPS Synopsys Inc. | 0.34% | 28,972 | $12.9M | Reduce -70.3% |
| AXGN Axogen Inc. | 0.33% | 278,170 | $12.8M | New |
| SABR Sabre Corp. | 0.30% | 5,511,121 | $11.5M | Add +0.1% |
| FIG Figma Inc. Class A | 0.30% | 631,345 | $11.4M | Add +132.0% |
| SPOT Spotify Technology SA | 0.13% | 11,118 | $5.1M | Add +81.0% |
| IOT Samsara Inc. Class A | 0.09% | 109,984 | $3.6M | Add +113.5% |
| SPCX Space Exploration Techn Class A | 0.06% | 14,068 | $2.4M | New |
Portfolio Sells Q1 2026 → Q2 2026
| LIN Linde PLC | Reduce -20.9% | 2.45% | −1.35 |
| DHR Danaher Corp. | Reduce -14.5% | 2.36% | −1.17 |
| TYL Tyler Technologies Inc. | Reduce -17.8% | 1.24% | −1.03 |
| SNPS Synopsys Inc. | Reduce -70.3% | 0.34% | −0.95 |
| UBER Uber Technologies Inc. | Reduce -29.8% | 0.98% | −0.81 |
| PEN Penumbra Inc. | Sold out | 0.00% | −0.76 |
| IR Ingersoll-Rand Inc. | Reduce -12.8% | 1.68% | −0.74 |
| WDAY Workday Inc. Class A | Reduce -6.4% | 1.58% | −0.72 |
| CSGP Costar Group Inc. | Reduce -33.0% | 0.35% | −0.61 |
| AFRM Affirm Holdings Inc. | Sold out | 0.00% | −0.56 |
| AMT American Tower Corp. | Sold out | 0.00% | −0.53 |
| NU Nu Holdings Ltd./Cayman Isl-A | Reduce -7.6% | 1.01% | −0.50 |
| Z Zillow Group Inc. Class C | Reduce -24.3% | 0.36% | −0.45 |
| MSFT Microsoft Corp. | Reduce -32.9% | 0.49% | −0.44 |
| LSCC Lattice Semiconductor Corp. | Reduce -36.6% | 1.42% | −0.33 |
| AAPL Apple Inc. | Reduce -8.5% | 1.27% | −0.29 |
| ARM Arm Holdings PLC-ADR | Reduce -50.9% | 2.11% | −0.25 |
| CRM Salesforce Inc. | Sold out | 0.00% | −0.18 |
| ADI Analog Devices Inc. | Reduce -17.1% | 0.60% | −0.15 |
| NET Cloudflare Inc. Class A | Reduce -0.4% | 0.87% | −0.07 |
| HEI Heico Corp. | Reduce -5.8% | 1.41% | −0.07 |
| MPWR Monolithic Power Systems Inc. | Reduce -4.3% | 0.92% | −0.06 |
| CDNS Cadence Design SYS Inc. | Reduce -4.3% | 4.91% | +0.03 |
| FROG Jfrog Ltd. | Reduce -19.8% | 1.02% | +0.18 |
| URI United Rentals Inc. | Reduce -6.9% | 2.53% | +0.28 |
| SNOW Snowflake Inc. | Reduce -9.9% | 1.97% | +0.31 |
| MRVL Marvell Technology Inc. | Reduce -47.2% | 1.89% | +0.36 |
| TXN Texas Instruments Inc. | Reduce -7.2% | 3.83% | +0.37 |
| KLAC KLA Corp. | Reduce -8.4% | 3.10% | +0.98 |
| LRCX Lam Research Corp. | Reduce -6.8% | 6.01% | +1.92 |
Portfolio Buys Q1 2026 → Q2 2026
| NVDA Nvidia Corp. | Add +135.6% | 4.21% | +2.21 |
| APH Amphenol Corp. Class A | Add +35.0% | 4.68% | +1.49 |
| ON On Semiconductor | New | 0.82% | +0.82 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +362.5% | 0.94% | +0.81 |
| DSGX The Descartes Systems Grp | New | 0.72% | +0.72 |
| AXON Axon Enterprise Inc. | Add +54.4% | 1.66% | +0.61 |
| DDOG Datadog Inc. Class A | New | 0.60% | +0.60 |
| DASH DoorDash Inc. Class A | Add +52.9% | 1.74% | +0.55 |
| LITE Lumentum Holdings Inc. | New | 0.51% | +0.51 |
| PWR Quanta Services Inc. | Add +22.9% | 2.24% | +0.45 |
| GOOG Alphabet Inc. Class C | Add +10.6% | 7.71% | +0.43 |
| AMZN Amazon.com Inc. | New | 0.36% | +0.36 |
| AXGN Axogen Inc. | New | 0.33% | +0.33 |
| HTFL Heartflow Inc. | Add +126.1% | 0.50% | +0.26 |
| RDDT Reddit Inc. Class A | Add +31.2% | 0.57% | +0.14 |
| FIG Figma Inc. Class A | Add +132.0% | 0.30% | +0.10 |
| SPCX Space Exploration Techn Class A | New | 0.06% | +0.06 |
| IOT Samsara Inc. Class A | Add +113.5% | 0.09% | +0.04 |
| SPOT Spotify Technology SA | Add +81.0% | 0.13% | +0.03 |
| SABR Sabre Corp. | Add +0.1% | 0.30% | +0.03 |
| GLBE Global-E Online Ltd. | Add +17.1% | 1.03% | +0.03 |
| TEAM Atlassian Corp. Class A | Add +10.8% | 0.82% | −0.01 |
| HEI.A Heico Corp. Class A | Add +1.0% | 1.38% | −0.06 |
| SAIL Sailpoint Inc. | Add +9.6% | 0.96% | −0.06 |
| RGEN Repligen Corp. | Add +1.0% | 0.73% | −0.07 |
| SHOP Shopify Inc. Class A | Add +27.9% | 2.08% | −0.09 |
| COIN Coinbase Global Inc. Class A | Add +19.3% | 0.39% | −0.11 |
| TOST Toast Inc. Class A | Add +9.1% | 1.16% | −0.14 |
| ISRG Intuitive Surgical Inc. | Add +37.2% | 2.25% | −0.20 |
| MELI MercadoLibre Inc. | Add +15.8% | 1.52% | −0.20 |
| TT Trane Technologies PLC | Add +0.9% | 2.54% | −0.20 |
| AJG Arthur J Gallagher & Co. | Add +5.6% | 2.32% | −0.35 |
| PGR Progressive Corp. | Add +1.0% | 2.74% | −0.43 |
| SYK Stryker Corp. | Add +10.9% | 2.11% | −0.44 |
| ROP Roper Technologies Inc. | Add +10.3% | 2.80% | −0.61 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 61 | $3.9B | GOOG, LRCX, CDNS, APH, NVDA |
| Q1 2026 | 58 | $3.0B | GOOG, CDNS, LRCX, LIN, DHR |
| Q4 2025 | 62 | $3.3B | GOOG, CDNS, DHR, LRCX, AMT |
| Q3 2025 | 61 | $3.3B | GOOG, CDNS, LRCX, PGR, APH |
| Q2 2025 | 60 | $2.9B | GOOG, CDNS, NVDA, APH, PGR |
| Q1 2025 | 59 | $2.2B | GOOG, CDNS, PGR, APH, ROP |
| Q4 2024 | 59 | $2.3B | GOOG, CDNS, MSFT, FISV, PGR |
| Q3 2024 | 58 | $2.6B | GOOG, MSFT, TXN, PGR, FISV |
| Q2 2024 | 58 | $2.4B | GOOG, MSFT, TXN, FISV, CDNS |
| Q1 2024 | 54 | $2.4B | MSFT, GOOG, NVDA, FISV, APH |