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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001457808-10-000004.txt : 20100312
<SEC-HEADER>0001457808-10-000004.hdr.sgml : 20100312
<ACCEPTANCE-DATETIME>20100312155501
ACCESSION NUMBER:		0001457808-10-000004
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20100312
DATE AS OF CHANGE:		20100312
EFFECTIVENESS DATE:		20100312

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NZC GUGGENHEIM FUND LLC
		CENTRAL INDEX KEY:			0001445853
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-122826
		FILM NUMBER:		10677759

	BUSINESS ADDRESS:	
		STREET 1:		C/O GUGGENHEIM INVESTMENT MGMT LLC
		STREET 2:		135 EAST 57TH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-381-4169

	MAIL ADDRESS:	
		STREET 1:		C/O GUGGENHEIM INVESTMENT MGMT LLC
		STREET 2:		135 EAST 57TH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
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    <primaryIssuer>
        <cik>0001445853</cik>
        <entityName>NZC GUGGENHEIM FUND LLC</entityName>
        <issuerAddress>
            <street1>GUGGENHEIM INVESTMENT MANAGEMENT, LLC</street1>
            <street2>135 EAST 57TH STREET</street2>
            <city>NEW YORK</city>
            <stateOrCountry>NY</stateOrCountry>
            <zipCode>10022</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>212-651-9450</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
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            <value>2008</value>
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                <lastName>Guggenheim Investment Management, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>135 East 57th Street</street1>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10022</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
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            <relationshipClarification>Manager of the Issuer</relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>n/a</firstName>
                <lastName>Guggenheim Partners, LLC</lastName>
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                <middleName>R.</middleName>
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                <firstName>Thomas</firstName>
                <middleName>J.</middleName>
                <lastName>Hauser</lastName>
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            <relatedPersonAddress>
                <street1>Guggenheim Investment Management, LLC</street1>
                <street2>135 East 57th Street</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10022</zipCode>
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            <relatedPersonRelationshipList>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Anthony</firstName>
                <middleName>D.</middleName>
                <lastName>Minella</lastName>
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            <relatedPersonAddress>
                <street1>Guggenheim Investment Management, LLC</street1>
                <street2>135 East 57th Street</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10022</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
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            <relationshipClarification></relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Timothy</firstName>
                <middleName>H.</middleName>
                <lastName>Murray</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Guggenheim Investment Management, LLC</street1>
                <street2>1301 McKinney</street2>
                <city>Houston</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>77010</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
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            <relationshipClarification></relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Stephen</firstName>
                <middleName>D.</middleName>
                <lastName>Sautel</lastName>
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            <relatedPersonAddress>
                <street1>Guggenheim Investment Management, LLC</street1>
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            <relatedPersonRelationshipList>
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            <relatedPersonRelationshipList>
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            <relationshipClarification></relationshipClarification>
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    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Hedge Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Decline to Disclose</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001347129-09-000005</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2008-08-07</value>
            </dateOfFirstSale>
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        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
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        <typesOfSecuritiesOffered>
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        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
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        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>432750000</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>39</totalNumberAlreadyInvested>
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        <salesCommissionsFindersFees>
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        <signatureBlock>
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                <issuerName>NZC GUGGENHEIM FUND LLC</issuerName>
                <signatureName>Stephen D. Sautel</signatureName>
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-----END PRIVACY-ENHANCED MESSAGE-----