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Livermore
Livermore
ZHEN

NZS Capital, LLC

SEC CIK
0001816616
Latest filing
Aug 14, 2026

The latest 13F from NZS Capital, LLC covers Q2 2026 (filed Aug 14, 2026): 61 long positions worth $3.86B. The top 10 holdings make up 42.5% of the portfolio, and the largest is Alphabet Inc. (GOOG) at 7.7%. Livermore has 21 filings on Form 13F from this institution, going back to Q2 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
7
Est. +$131.1M
Added
28
Est. +$378.6M
Reduced
26
Est. −$402.9M
Sold out
4
Est. −$60.8M

Top 5 holdings

Share of this quarter's portfolio value

  1. GOOGAlphabet Inc.
    7.7%$297.2MHistory
  2. LRCXLam Research Corp
    6.0%$231.8MHistory
  3. CDNSCadence Design Systems Inc
    4.9%$189.5MHistory
  4. APHAmphenol Corp
    4.7%$180.6MHistory
  5. NVDANVIDIA Corp
    4.2%$162.3MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. NVDANVIDIA Corp
    +$93.4MAddedHistory
  2. APHAmphenol Corp
    +$46.8MAddedHistory
  3. ONOn Semiconductor Corp
    +$31.7MNewHistory
  4. CRWDCrowdStrike Holdings, Inc.
    +$28.5MAddedHistory
  5. GOOGAlphabet Inc.
    +$28.4MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. NVDANVIDIA Corp
    +2.21 pp2.0% → 4.2%History
  2. APHAmphenol Corp
    +1.49 pp3.2% → 4.7%History
  3. ONOn Semiconductor Corp
    +0.82 pp0.0% → 0.8%History
  4. CRWDCrowdStrike Holdings, Inc.
    +0.81 pp0.1% → 0.9%History
  5. DSGXDescartes Systems Group Inc
    +0.72 pp0.0% → 0.7%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. ARMArm Holdings PLC
    −$84.4MReducedHistory
  2. MRVLMarvell Technology, Inc.
    −$65.2MReducedHistory
  3. LSCCLattice Semiconductor Corp
    −$31.6MReducedHistory
  4. SNPSSynopsys Inc
    −$30.6MReducedHistory
  5. LINLinde PLC
    −$24.9MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. LINLinde PLC
    −1.35 pp3.8% → 2.5%History
  2. DHRDanaher Corp
    −1.17 pp3.5% → 2.4%History
  3. TYLTyler Technologies Inc
    −1.03 pp2.3% → 1.2%History
  4. SNPSSynopsys Inc
    −0.95 pp1.3% → 0.3%History
  5. UBERUber Technologies, Inc
    −0.81 pp1.8% → 1.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$3.86B
+$857.2M (+28.6%) vs. prior quarter
Positions
61
+3 vs. prior quarter
Top 10 concentration
42.5%
Top 10 as share of value
Turnover
13.5%
Q2 2026, one quarter
Average holding period
13.4 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q2 2021), so positions held before then are understated.

13F filings by quarter

21 quarters, going back to Q2 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $3.86B (Q2 2026)

Q2 2021: $1.09BQ3 2021: $1.01BQ4 2021: $1.14BQ1 2022: $989.4MQ2 2022: $935.0MQ3 2022: $1.09BQ4 2022: $1.17BQ1 2023: $1.89BQ2 2023: $2.00BQ3 2023: $1.86BQ4 2023: $1.90BQ1 2024: $2.41BQ2 2024: $2.44BQ3 2024: $2.56BQ4 2024: $2.35BQ1 2025: $2.22BQ2 2025: $2.94BQ3 2025: $3.27BQ4 2025: $3.26BQ1 2026: $3.00BQ2 2026: $3.86B
Q2 2021Q2 2026
13F filings of NZS Capital, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 202661$3.86BGOOGLRCXCDNSvs. Q1 2026SEC
Q1 2026May 15, 202658$3.00BGOOGCDNSLRCXvs. Q4 2025SEC
Q4 2025Feb 12, 202662$3.26BGOOGCDNSDHRvs. Q3 2025SEC
Q3 2025Nov 12, 202561$3.27BGOOGCDNSLRCXvs. Q2 2025SEC
Q2 2025Aug 13, 202560$2.94BGOOGCDNSNVDAvs. Q1 2025SEC
Q1 2025May 14, 202559$2.22BGOOGCDNSPGRvs. Q4 2024SEC
Q4 2024Feb 14, 202559$2.35BGOOGCDNSMSFTvs. Q3 2024SEC
Q3 2024Nov 14, 202458$2.56BGOOGMSFTTXNvs. Q2 2024SEC
Q2 2024Aug 14, 202458$2.44BGOOGMSFTTXNvs. Q1 2024SEC
Q1 2024May 15, 202454$2.41BMSFTGOOGNVDAvs. Q4 2023SEC
Q4 2023Feb 14, 202455$1.90BMSFTGOOGWDAYvs. Q3 2023SEC
Q3 2023Nov 14, 202365$1.86BMSFTGOOGWDAYvs. Q2 2023SEC
Q2 2023Aug 11, 202364$2.00BMSFTWDAYGOOGvs. Q1 2023SEC
Q1 2023May 12, 202365$1.89BMSFTWDAYTXNvs. Q4 2022SEC
Q4 2022Feb 14, 202364$1.17BMSFTGOOGWDAYvs. Q3 2022SEC
Q3 2022Nov 14, 202267$1.09BMSFTGOOGCRMvs. Q2 2022SEC
Q2 2022Aug 15, 202262$935.0MCRMMSFTGOOGvs. Q1 2022SEC
Q1 2022May 16, 202265$989.4MGOOGMSFTCRMvs. Q4 2021SEC
Q4 2021Feb 14, 202268$1.14BMSFTGOOGCRMvs. Q3 2021SEC
Q3 2021Nov 12, 202168$1.01BMSFTGOOGCRMvs. Q2 2021SEC
Q2 2021Jul 22, 202162$1.09BMSFTGOOGCRM–SEC