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NZS Capital, LLC
Brad Slingerlend · Asset Manager · Growth
NZS Capital, LLC is a Denver-based investment firm founded in 2019 by former Janus Henderson portfolio managers Brad Slingerlend and Brinton Johns. The firm specializes in global growth equity strategies, utilizing a proprietary framework centered on Complexity Investing and Non-Zero-Sum (NZS) outcomes. NZS Capital focuses on the transition from the Industrial Age to the Information Age, seeking companies that provide significant value to all stakeholders, including customers, employees, and society. By viewing the market as a complex adaptive system, the firm avoids traditional forecasting in favor of a portfolio construction method that balances Resilience and Optionality to navigate economic unpredictability and capture long-term innovation.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +15.8% |
| YTD return | +10.9% |
| Sharpe ratio | 4.36 |
| Win rate | 48% |
| AUM | $4.6B |
| Inception | Oct 1, 2025 |
| Updated | Sep 21, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $4.6B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://www.nzscapital.com/ |
Current Holdings
Updated on Sep 21, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| GOOGL | Alphabet Inc Class A | 13.6% | +25.1% |
| NVDA | NVIDIA Corporation | 8.6% | +3.8% |
| MSFT | Microsoft Corporation | 8.0% | +17.8% |
| AMZN | Amazon.com Inc | 6.6% | -1.7% |
| TXN | Texas Instruments Incorporated | 5.5% | +30.9% |
| AJG | Arthur J Gallagher & Co | 5.5% | +14.2% |
| DHR | Danaher Corporation | 5.2% | +4.1% |
| AVGO | Broadcom Inc | 5.1% | -13.4% |
| APH | Amphenol Corporation | 4.8% | +16.5% |
| SYK | Stryker Corporation | 4.1% | -13.5% |
| BAC | Bank of America Corp | 3.8% | +1.2% |
| V | Visa Inc. Class A | 3.7% | +13.1% |
| LRCX | Lam Research Corp | 3.5% | +71.0% |
| A | Agilent Technologies Inc | 3.4% | +22.3% |
| CDNS | Cadence Design Systems Inc | 3.2% | -15.6% |
| IR | Ingersoll Rand Inc | 3.2% | -13.4% |
| MELI | MercadoLibre Inc. | 3.1% | -7.4% |
| KO | The Coca-Cola Company | 3.1% | +7.6% |
| MA | Mastercard Inc | 3.0% | -0.3% |
| TMO | Thermo Fisher Scientific Inc | 2.9% | +7.3% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Sep 7, 2026 | BUY | BAC | 3.8% → 3.8% |
| Sep 7, 2026 | BUY | AVGO | 5.2% → 5.1% |
| Sep 7, 2026 | SELL | KO | 3.1% → 3.1% |
| Sep 7, 2026 | SELL | MA | 3.0% → 3.0% |
| Sep 7, 2026 | SELL | DHR | 5.3% → 5.2% |
Investment Style Analysis
NZS Capital, LLC is widely recognized for employing a Growth strategy. As of Sep 21, 2026, the firm oversees approximately $4.6B in assets under management (AUM). The portfolio demonstrates a clear preference for the Semiconductors and Internet Content & Information sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Sep 7, NZS Capital, LLC made a significant move by increasing exposure to BAC. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
NZS Capital's investment philosophy is based on the idea of Non-Zero-Sumness, where a company’s success is intrinsically linked to the value it creates for its entire ecosystem. The firm recognizes that the global economy is a complex adaptive system, making it inherently unpredictable. Consequently, their strategy avoids narrow predictions and instead focuses on 'Complexity Investing.' This involves constructing a portfolio divided into two categories: Resilience and Optionality. Resilience positions consist of large, stable companies with high adaptability and low risk of disruption. Optionality positions are smaller investments in companies with significant asymmetric potential. This dual-pillar approach allows the firm to remain adaptable to a wide range of outcomes while capitalizing on the structural shifts driven by the ongoing digitization of the world.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with NZS Capital, LLC.
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Frequently asked questions
How is the simulated portfolio for NZS Capital, LLC constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is NZS Capital, LLC's largest holding?
As of the latest filing, NZS Capital, LLC's top position is Alphabet Inc Class A (GOOGL), representing 13.6% of the portfolio. This reflects a high-conviction bet by the institution.
What is NZS Capital, LLC's historical performance and risk profile?
Our simulation indicates a total return of +15.8% with a win rate of 48%. Notably, the portfolio maintains a Sharpe Ratio of 4.36, suggesting an exceptional level of risk-adjusted returns compared to the broader market.
What sectors does NZS Capital, LLC primarily invest in?
NZS Capital, LLC has a strong preference for the Semiconductors sector, which makes up 19.2% of their disclosed assets. The portfolio also has exposure to Internet Content & Information, indicating a specific thematic focus.
Is NZS Capital, LLC's portfolio concentrated or diversified?
NZS Capital, LLC runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 30.2% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has NZS Capital, LLC performed in 2026?
Our AI-simulated model portfolio for NZS Capital, LLC tracks a Year-to-Date (YTD) return of +10.9%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Brad Slingerlend manage NZS Capital, LLC directly?
Yes, Brad Slingerlend serves as the key portfolio manager for NZS Capital, LLC, overseeing the investment strategy and final capital allocation decisions.