# NZS Capital LLC

> NZS Capital LLC is an SEC-registered investment advisory firm in Denver, CO, registered since 2020, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated April 23, 2026.

- CRD: 305093
- Filed as: NZS CAPITAL LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Denver, CO
- Filing period: October 2026
- Form ADV filing dated: April 23, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/305093
- AdvisorCensus page: https://advisorcensus.com/firm/nzs-capital-llc-denver-co-305093

## Quick answers

**How is NZS Capital LLC compensated?**
On its Form ADV (Item 5.E, October 2026), NZS Capital LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is NZS Capital LLC located?**
NZS Capital LLC's principal office is in Denver, CO, according to its Form ADV.

**Is NZS Capital LLC registered with the SEC or a state?**
NZS Capital LLC is an SEC-registered investment advisory firm, registered since 2020. Status as filed: Approved. CRD 305093.

**How much does NZS Capital LLC manage?**
NZS Capital LLC reports $4,058,262,900 in regulatory assets under management in its Form ADV filing dated April 23, 2026 (100% discretionary).

**How have NZS Capital LLC's assets and staff changed since 2021?**
In the Form ADV data for NZS Capital LLC: Regulatory assets under management: $541,396,635 in the October 2021 data and $4,058,262,900 in the October 2026 data, up 650%. Total employees: 6 in October 2021 and 9 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does NZS Capital LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (6).

**Which custodians does NZS Capital LLC use?**
NZS Capital LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists BNY Mellon and Citibank, N. A. as custodians holding 10% or more of its separately managed account assets.

**Does NZS Capital LLC report any disciplinary disclosures?**
Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.D(4) (another regulator's order in the past ten years). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/305093

**What changed in NZS Capital LLC's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $2,931,558,267 to $4,058,262,900 (+38%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- BNY Mellon
- Citibank, N. A.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $4,058,262,900
- Discretionary: $4,058,262,900
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 6 | $2,265,766,851 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Fewer than 5 | $303,600,308 |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 | $1,488,895,741 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2020 (6 years)
- Employees: 9 total, 5 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CO
- Disclosures (Item 11): Reports 1 disclosure item on Form ADV Item 11.

### Item 11 questions answered yes
- 11.D(4): In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/305093

### Websites listed on Form ADV (Item 1.I)
- [nzscapital.com](https://nzscapital.com)
- LinkedIn @nzscapital
- X @NZSCapital
- YouTube @UC5MglqQ_XxK8-Z3IdEsTKCQ

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $541,396,635 | 6 | September 17, 2021 |
| October 2022 | $1,351,216,628 | 8 | April 29, 2022 |
| October 2023 | $1,345,451,758 | 8 | March 31, 2023 |
| October 2024 | $2,259,424,480 | 9 | April 24, 2024 |
| October 2025 | $2,931,558,267 | 9 | May 30, 2025 |
| October 2026 | $4,058,262,900 | 9 | April 23, 2026 |

Regulatory assets under management: $541,396,635 in the October 2021 data and $4,058,262,900 in the October 2026 data, up 650%.
Total employees: 6 in October 2021 and 9 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $2,931,558,267 to $4,058,262,900 (+38%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. NZS Capital LLC (CRD 305093): Form ADV filing data as of October 2026.