ZEVENBERGEN CAPITAL INVESTMENTS LLC

Long Only Manager

ZEVENBERGEN CAPITAL INVESTMENTS LLC is a Long Only Manager based in Edmonds, WA led by Nancy Ann Zevenbergen, managing $5.1B across 103 long positions as of Q3 2025 with 48% Technology concentration, 52% concentrated in top 10 holdings, and 48% technology allocation.

PresidentNancy Ann Zevenbergen

Portfolio Value: $5.1B
Positions: 103
Top Holding: NVDA at 10.1%
Last Reported: Q3 2025

Address326 Admiral Way, Suite 200, Edmonds, WA, 98020-7261, United States

Top Holdings

Largest long holdings in ZEVENBERGEN CAPITAL INVESTMENTS LLC's portfolio (52% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Nvidia NVDA	Semiconductors Technology	$519.8M	10.10%	-$36.3M Sold	0.01% 2.8M shares	Q3 2016 Held for 9y 2m
2 Tesla, Inc. TSLA	Auto - Manufacturers Consumer Cyclical	$383.7M	7.46%	-$44.9M Sold	0.03% 862.7K shares	≤ Q2 2013 Held for 12y 5m+
3 Shopify SHOP	Software - Application Technology	$304.9M	5.93%	-$38.5M Sold	0.16% 2.1M shares	Q4 2016 Held for 8y 11m
4 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$284.6M	5.53%	-$11.3M Sold	0.02% 387.6K shares	Q3 2022 Held for 3y 2m
5 Axon Enterprise, Inc. AXON	Aerospace & Defense Industrials	$265.1M	5.15%	-$15.8M Sold	0.47% 369.4K shares	Q2 2018 Held for 7y 5m
6 Mercado Libre MELI	Specialty Retail Consumer Cyclical	$248.3M	4.83%	-$12.1M Sold	0.21% 106.2K shares	≤ Q2 2013 Held for 12y 5m+
7 Amazon AMZN	Specialty Retail Consumer Cyclical	$221.2M	4.30%	-$23.8M Sold	0.01% 1.0M shares	≤ Q2 2013 Held for 12y 5m+
8 Microsoft MSFT	Software - Infrastructure Technology	$163.1M	3.17%	-$2.4M Sold	0.00% 314.9K shares	Q3 2014 Held for 11y 2m
9 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$155.0M	3.01%	+$4.9K Bought	0.01% 636.3K shares	Q1 2014 Held for 11y 8m
10 Uber Technologies UBER	Software - Application Technology	$129.7M	2.52%	-$18.1M Sold	0.06% 1.3M shares	Q2 2019 Held for 6y 5m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in ZEVENBERGEN CAPITAL INVESTMENTS LLC's latest filing

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Market Value

$5.1B

Prior: $5.1B

Q/Q Change

+0.365%

+$18.7M

Net Flows % of MV

-4.52%

Turnover Ratio

5.43%

New Purchases

4 stocks

$15.4M

Added To

38 stocks

+$163.7M

Sold Out Of

6 stocks

$78.3M

Reduced Holdings

47 stocks

-$333.3M

Increased Positions

Position	Shares Δ	Change
1 Applovin Corporation APP	New	0 → 14.9K +$10.7M
2 MakeMyTrip MMYT	New	0 → 41.6K +$3.9M
3 Planet Labs PL	New	0 → 44.0K +$571.1K
4 LGI Homes LGIH	New	0 → 5.5K +$281.8K
5 Alphabet Inc. GOOGL	+4,695.24%	4.1K → 197.6K +$47.0M

Decreased Positions

Position	Shares Δ	Change
1 Clearwater Analytics CWAN	Sold	1.4M → 0 −$30.0M
2 CyberArk Software CYBR	Sold	66.7K → 0 −$27.1M
3 Repligen RGEN	Sold	86.0K → 0 −$10.7M
4 Adobe ADBE	Sold	24.9K → 0 −$9.6M
5 Accenture ACN	Sold	2.1K → 0 −$637.5K