Neocalanus tonsus (Brady) was sampled between October 1984 and September 1985 in the upper 1000 m of the water column off southeastern New Zealand. The apparent spring growth increment of copepodid stage V (CV) differed depending upon the constituent considered: dry mass increased 208 μg, carbon 162 μg, wax esters 143 μg, but nitrogen only 5 μg. Sterols and phospholipids remained relatively constant over this interval. Wax esters were consistently the dominant lipid class present in CV's, increasing seasonally from 57 to 90% of total lipids. From spring to winter, total lipid content of CV's increased from 22 to 49% of dry mass. Nitrogen declined from 10.9 to 5.4% of CV dry mass as storage compounds (wax esters) increased in importance relative to structural compounds. Egg lipids were 66% phospholipids. Upon first appearance of males and females in deep water in winter, lipid content and composition did not differ from co-occuring CV's, confirming the importance of lipids rather than particulate food as an energy source for deep winter reproduction of this species. Despite contrasting life histories, N. tonsus and subarctic Pacific Neocalanus plumchrus CV's share high lipid content, a predominance of wax esters over triacylglycerols as storage lipids, and similar wax ester fatty acid and fatty alcohol composition. © 1989.