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ZEVENBERGEN CAPITAL INVESTMENTS LLC

326 ADMIRAL WAY STE 200, EDMONDS, WA 98020 • 2066828469

Q4 2025 · Filed 2026-01-15
Market Value
$1.4B
-3.7%
Holdings
43
New Purchases
2
Added To
15
Closed
4
Reduced
16
Top 10 Concentration
74.7%
Turnover
14.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
KRMN 2.77% 0.00% +2.77% $39M
MU 5.35% 3.32% +2.03% $76M
RKLB 5.35% 3.39% +1.96% $76M
AMD 8.28% 6.46% +1.83% $118M
AAPL 9.59% 8.20% +1.39% $136M
SNOW 6.71% 5.62% +1.10% $96M
CAI 1.03% 0.00% +1.03% $15M
NTRA 5.21% 4.30% +0.91% $74M
MPWR 5.18% 4.65% +0.53% $74M
QCOM 1.51% 1.19% +0.32% $21M
AMAT 1.26% 0.97% +0.29% $18M
APH 1.69% 1.49% +0.20% $24M
KLAC 1.28% 1.09% +0.19% $18M
PCAR 0.22% 0.18% +0.04% $3M
AMGN 0.23% 0.19% +0.04% $3M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ARM 0.43% 4.78% -4.35% $6M
DXCM 0.00% 3.12% -3.12% $0
VEEV 2.35% 3.99% -1.65% $33M
AMZN 13.71% 14.96% -1.25% $195M
PANW 3.74% 4.97% -1.23% $53M
HUBS 0.00% 1.22% -1.22% $0
TOST 4.63% 5.23% -0.60% $66M
WING 2.16% 2.58% -0.42% $31M
MSFT 10.68% 11.03% -0.35% $152M
ANET 2.26% 2.42% -0.16% $32M
BE 0.46% 0.60% -0.14% $7M
CDNS 0.88% 0.95% -0.07% $13M
HD 0.27% 0.30% -0.04% $4M
PAYX 0.17% 0.19% -0.03% $2M
CAVA 0.00% 0.02% -0.02% $0

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Technology 64.6%
Consumer Cyclical 12.0%
Industrials 10.2%
Healthcare 7.3%
Financial Services 5.6%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 12 $748M 52.6%
Large Cap 26 $590M 41.4%
Mid Cap 5 $86M 6.0%

Portfolio Analytics

Avg Market Cap
$389.7B
Median Market Cap
$103.0B
Avg P/E
63.7
Median P/E
33.5
Avg Dividend Yield
0.01%
Avg Beta
1.33
# Stocks
42
# ETFs / Funds
1

Top Holdings (43 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 AMZN 13.71% 845,418 $195M $230.82 -$26M -162,036 -16.1%
2 MSFT 10.68% 314,367 $152M $483.62 -$11M -512 -0.2%
3 AAPL 9.59% 501,917 $136M $271.86 $15M +25,866 +5.4%
4 AMD 8.28% 550,483 $118M $214.16 $22M -39,546 -6.7%
5 SNOW 6.71% 435,633 $96M $219.36 $13M +67,426 +18.3%
6 MU 5.35% 266,850 $76M $285.41 $27M -26,800 -9.1%
7 RKLB 5.35% 1,090,798 $76M $69.76 $26M +45,837 +4.4%
8 NTRA 5.21% 323,571 $74M $229.09 $11M -70,994 -18.0%
9 MPWR 5.18% 81,378 $74M $906.36 $5M +6,710 +9.0%
10 TOST 4.63% 1,854,996 $66M $35.51 -$11M -262,314 -12.4%
11 PANW 3.74% 289,228 $53M $184.20 -$20M -71,909 -19.9%
12 KRMN 2.77% 539,600 $39M $73.17 +539,600 NEW
13 VEEV 2.35% 149,654 $33M $223.23 -$26M -48,621 -24.5%
14 ANET 2.26% 245,400 $32M $131.03 -$4M
15 WING 2.16% 129,055 $31M $238.49 -$7M -22,457 -14.8%
16 APH 1.69% 177,935 $24M $135.14 $2M +500 +0.3%
17 QCOM 1.51% 125,647 $21M $171.05 $4M +20,320 +19.3%
18 KLAC 1.28% 15,000 $18M $1,215.08 $2M
19 AMAT 1.26% 70,000 $18M $256.99 $4M
20 INTU 1.20% 25,781 $17M $662.42 -$491K +55 +0.2%
21 CAI 1.03% 543,185 $15M $26.98 +543,185 NEW
22 CDNS 0.88% 40,060 $13M $312.58 -$2M
23 BE 0.46% 75,375 $7M $86.89 -$2M -29,375 -28.0%
24 ARM 0.43% 55,690 $6M $109.31 -$65M -444,082 -88.9%
25 PGR 0.28% 17,705 $4M $227.72 -$375K -140 -0.8%
26 CTAS 0.28% 20,850 $4M $188.07 -$188K +830 +4.2%
27 HD 0.27% 10,987 $4M $344.10 -$712K -100 -0.9%
28 AMGN 0.23% 9,959 $3M $327.31 $463K +50 +0.5%
29 PCAR 0.22% 28,606 $3M $109.51 $521K +2,040 +7.7%
30 ABT 0.19% 21,364 $3M $125.29 -$153K +240 +1.1%
31 PAYX 0.17% 21,173 $2M $112.18 -$479K -1,342 -6.0%
32 JNJ 0.16% 10,964 $2M $206.95 $270K +185 +1.7%
33 DE 0.12% 3,785 $2M $465.57 $22K -20 -0.5%
34 ECL 0.11% 6,070 $2M $262.52 $16K +310 +5.4%
35 TSCO 0.06% 18,130 $907K $50.01 -$145K -360 -1.9%
36 SBUX 0.06% 10,152 $855K $84.21 -$3K +10 +0.1%
37 DSI 0.05% 6,075 $783K $128.83 $17K
38 DIS 0.05% 6,473 $736K $113.77 $28K +290 +4.7%
39 AXP 0.04% 1,700 $629K $369.95 $64K
40 HUBS —% -$18M -38,715 -100.0% SOLD
41 CAVA —% -$290K -4,800 -100.0% SOLD
42 DXCM —% -$46M -685,433 -100.0% SOLD
43 ABNB —% -$209K -1,725 -100.0% SOLD

New Positions

SymbolValue% Port
KRMN $39M 2.77%
CAI $15M 1.03%

Sold Out Positions

SymbolValue% Port
HUBS —%
CAVA —%
DXCM —%
ABNB —%
View SEC EDGAR Filings for ZEVENBERGEN CAPITAL INVESTMENTS LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms