NZS Capital LLC is an SEC-registered investment adviser based in Denver, CO that reports managing 3 hedge funds on Form ADV. It reports $4.1 billion in regulatory assets under management. Its private funds, of all types, hold $989.3 million in gross assets. Its disclosed U.S. stock holdings returned an estimated +10.9% 2026 YTD through Jun 30 (S&P 500: +9.5%), based on 13F filings. Over a longer period they returned an estimated +31.9% from Q3 2024 to Q2 2026, compared with +37.2% for the S&P 500, based on 13F filings.
- Regulatory assets under management
- $4.1 billionForm ADV Item 5.F
- Gross assets of private funds
- $989.3 millionAll private fund types, Form ADV
- Hedge funds managed
- 34 private funds in total
- Employees
- 9Form ADV Item 5.A
- Registration
- SEC-registered adviserCRD 305093
- Latest Form ADV
- 04/23/2026Disciplinary disclosures: none reported
Estimated 13F portfolio performance
| Quarter | Est. 13F return | S&P 500 |
|---|---|---|
| Q2 2026 | +23.5% | +14.8% |
| Q1 2026 | -10.2% | -4.6% |
| Q4 2025 | -1.2% | +2.4% |
| Q3 2025 | +6.7% | +7.8% |
| Q2 2025 | +18.8% | +10.4% |
| Q1 2025 | -5.3% | -4.5% |
| Q4 2024 | -2.1% | +2.1% |
| Q3 2024 | +2.5% | +5.4% |
Estimate of the firm's disclosed long U.S. stock portfolio from its quarterly 13F filings, holding each quarter-end portfolio to the next quarter-end at prices implied by all 13F filers. It is a price return before dividends and fees, ignores shorts, options, bonds, cash and trading within the quarter, and is not the return of any fund. Disclosures
Largest disclosed holdings
- Alphabet, Inc Non-voting Class$297.2 million
- Lam Research Corp Com New$231.8 million
- Cadence Design System Inc Com$189.5 million
- Amphenol Corp New$180.6 million
- Nvidia Corp$162.3 million
- Texas Instrs Inc$147.7 million
- Kla Corp Com New$119.4 million
- Roper Technologies Inc$108.0 million
- Progressive Corp Com$105.8 million
- Trane Technologies PLC$97.8 million
As of 2026-06-30, from 13F filing by NZS Capital, LLC.
From SEC filings. Firm data comes from the SEC's Form ADV data as of Oct 2, 2026; performance estimates come from Form 13F. HedgeMountain has not verified this information, and it is not an offer, solicitation or recommendation. Full disclosures