NZS Capital’s Q1 2026 Investor Letter

NZS Capital, LLC, an investment management company, released its “NZS Growth Equity Strategy” first-quarter 2026 investor letter. The NZS Growth Equity strategy experienced a return of -8.75% (gross) and -8.91% (net) in Q1 2026, underperforming the -3.30% of the Morningstar Global Target Market Exposure Index. This decline was primarily due to weakness in growth stocks and a significant exposure to software. While the materials sector positively impacted absolute returns, the semiconductor sub-sector also showed strong contributions. Major detractors from absolute returns included Information Technology, Financials, and Healthcare. The overall market decline presented the firm with new investment opportunities amid rising uncertainty and inflation expectations. In addition, please check the Strategy’s top five holdings to know its best picks in 2026.

A copy of NZS Capital’s Q1 2026 investor letter can be downloaded here.

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