Zevenbergen Capital Investments LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 12, 2025), Zevenbergen Capital Investments LLC reported 101 stock positions worth $4.1 billion. Its top holding was Nvidia (NVDA) at 8.2% of the portfolio, followed by Tesla (TSLA, 6.4%) and MercadoLibre (MELI, 5.8%). Compared with Q4 2024, it opened 4 new positions, sold out of 4, added to 20 and reduced 65. The biggest buy was Snowflake (SNOW, shares +23%) and the biggest sale Tesla (TSLA, shares −2%).

Most Recent 13F
Q2 2026
Location
EDMONDS, WA
CIK
0001276918
Portfolio Value
$4.1B (Q1 2025)
SEC Filing
0001276918-25-000006 ↗ filed May 12, 2025

Holdings Value

0$2.0B$4.0B$6.0B Q1 2024: $4.7B Q1 2024 Q2 2024: $4.7B Q2 2024 Q3 2024: $4.8B Q3 2024 Q4 2024: $4.9B Q4 2024 Q1 2025: $4.1B $4.1B Q1 2025 Q2 2025: $5.1B Q2 2025 Q3 2025: $5.1B Q3 2025 Q4 2025: $4.5B Q4 2025 Q1 2026: $3.5B Q1 2026 Q2 2026: $4.4B Q2 2026

Holdings 101 stocks · $4.1B
NVDA Nvidia Corp. 8.22% 3,107,930 $336.8M Reduce -0.6%
TSLA Tesla Inc. 6.41% 1,013,646 $262.7M Reduce -1.9%
MELI MercadoLibre Inc. 5.76% 121,154 $236.4M Reduce -5.1%
META Meta Platforms Inc. Class A 5.76% 409,912 $236.3M Reduce -2.7%
SHOP Shopify Inc. Class A 5.62% 2,412,839 $230.4M Reduce -8.0%
AMZN Amazon.com Inc. 5.37% 1,158,099 $220.3M Reduce -7.1%
AXON Axon Enterprise Inc. 5.33% 415,264 $218.4M Reduce -1.9%
NOW ServiceNow Inc. 3.12% 160,636 $127.9M Reduce -2.3%
NFLX Netflix Inc. 3.11% 136,923 $127.7M Reduce -2.3%
MSFT Microsoft Corp. 3.03% 330,432 $124.0M Reduce -0.3%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 2.90% 2,169,273 $118.7M Add +3.7%
UBER Uber Technologies Inc. 2.77% 1,560,135 $113.7M Reduce -5.6%
AAPL Apple Inc. 2.64% 487,531 $108.3M Reduce -0.3%
GOOG Alphabet Inc. Class C 2.49% 654,430 $102.2M Reduce -0.8%
CRWD CrowdStrike Holdings Inc. Class A 2.46% 286,141 $100.9M Reduce -3.4%
AMD Advanced Micro Devices 2.21% 881,789 $90.6M Reduce -15.5%
SPOT Spotify Technology SA 2.14% 159,697 $87.8M Reduce -3.4%
PANW Palo Alto Networks Inc. 1.99% 477,454 $81.5M Reduce -4.6%
TOST Toast Inc. Class A 1.80% 2,224,341 $73.8M Add +1.0%
AVGO Broadcom Inc. 1.51% 370,400 $62.0M Reduce -0.0%
NTRA Natera Inc. 1.48% 429,665 $60.8M Reduce -2.4%
Z Zillow Group Inc. Class C 1.46% 870,171 $59.7M Reduce -0.6%
EXAS Exact Sciences Corp. 1.23% 1,167,964 $50.6M Reduce -15.1%
ARM Arm Holdings PLC-ADR 1.23% 471,527 $50.4M Add +0.2%
VEEV Veeva Systems Inc. Class A 1.19% 210,333 $48.7M Reduce -0.9%
SNOW Snowflake Inc. 1.10% 309,780 $45.3M Add +23.1%
ELF Elf Beauty Inc. 1.04% 682,009 $42.8M Add +9.9%
WING Wingstop Inc. 0.94% 170,305 $38.4M Reduce -1.9%
DXCM Dexcom Inc. 0.87% 521,553 $35.6M Add +34.7%
ABNB Airbnb Inc. Class A 0.86% 296,485 $35.4M Reduce -13.0%
PWR Quanta Services Inc. 0.67% 108,796 $27.7M Add +11.3%
MU Micron Technology Inc. 0.66% 310,800 $27.0M Add +0.3%
ONON On Holding AG Class A filed as ON HLDG AG 0.63% 591,003 $26.0M Reduce -6.7%
MPWR Monolithic Power Systems Inc. 0.60% 42,683 $24.8M Reduce -0.5%
CWAN Clearwater Analytics HDS-A 0.59% 909,429 $24.4M Add +48.6%
HUBS HubSpot Inc. 0.58% 41,465 $23.7M Add +8.8%
ORCL Oracle Corp. 0.56% 163,710 $22.9M Reduce -0.0%
IOT Samsara Inc. Class A 0.55% 587,809 $22.5M Add +42.0%
ARES Ares Management Corp. Class A 0.54% 151,005 $22.1M Add +55.4%
DDOG Datadog Inc. Class A 0.51% 209,785 $20.8M Reduce -0.9%
ANET Arista Networks Inc. 0.48% 253,100 $19.6M No change
QCOM Qualcomm Inc. 0.46% 121,972 $18.7M Reduce -0.1%
INTU Intuit Inc. 0.39% 25,801 $15.8M Reduce -1.6%
DELL Dell Technologies -C 0.35% 158,830 $14.5M Add +0.2%
BKNG Booking Holdings Inc. 0.35% 3,077 $14.2M Reduce -0.6%
PCOR Procore Technologies Inc. 0.29% 182,275 $12.0M Add +101.2%
PINS Pinterest Inc. Class A 0.29% 381,525 $11.8M Add +4.3%
APH Amphenol Corp. Class A 0.28% 176,010 $11.5M Add +2.9%
MDB Mongodb Inc. 0.28% 65,790 $11.5M Reduce -15.4%
SYM Symbotic Inc. 0.28% 562,868 $11.4M Reduce -23.3%
RGEN Repligen Corp. 0.27% 87,587 $11.1M Reduce -22.3%
CDNS Cadence Design SYS Inc. 0.27% 43,025 $10.9M Reduce -72.5%
KLAC KLA Corp. 0.25% 15,000 $10.2M No change
AMAT Applied Materials Inc. 0.25% 70,000 $10.2M No change
ADBE Adobe Inc. 0.23% 24,900 $9.5M No change
ASML ASML Holding NV-NY Reg SHS 0.22% 13,853 $9.2M Reduce -2.3%
COST Costco Wholesale Corp. 0.19% 8,095 $7.7M Reduce -1.8%
JPM JPMorgan Chase & Co. 0.18% 29,758 $7.3M Reduce -1.8%
V Visa Inc. Class A 0.17% 20,233 $7.1M Reduce -0.1%
BR Broadridge Financial Solutio 0.17% 28,810 $7.0M Reduce -15.6%
VRT Vertiv Holdings Co. Class A 0.16% 90,000 $6.5M No change
DKNG Draftkings Inc. Class A 0.15% 191,090 $6.3M No change
CRM Salesforce Inc. 0.15% 23,100 $6.2M No change
PGR Progressive Corp. 0.13% 18,190 $5.1M Reduce -3.1%
SRAD Sportradar Group AG-A 0.12% 228,600 $4.9M No change
APPF Appfolio Inc. Class A 0.11% 20,000 $4.4M Reduce -4.5%
CTAS Cintas Corp. 0.10% 19,915 $4.1M Reduce -3.5%
BLK BlackRock Inc. 0.10% 4,253 $4.0M Reduce -4.5%
HD Home Depot Inc. 0.10% 10,917 $4.0M Reduce -3.9%
CRDO Credo Technology Group Holdi 0.09% 93,100 $3.7M Reduce -0.3%
PAYX Paychex Inc. 0.08% 22,265 $3.4M Reduce -0.9%
RKLB Rocket Lab USA Inc. 0.07% 169,630 $3.0M New
AMGN Amgen Inc. 0.07% 9,564 $3.0M Reduce -2.6%
RIVN Rivian Automotive Inc. Class A 0.07% 228,455 $2.8M Reduce -0.2%
ABT Abbott Laboratories 0.07% 20,814 $2.8M Reduce -2.5%
SPY SS SPDR S&P 500 ETF Trust-US 0.06% 4,755 $2.7M Add +0.0%
ZTS Zoetis Inc. 0.06% 15,440 $2.5M Reduce -0.6%
BE Bloom Energy Corp. Class A 0.06% 123,850 $2.4M Reduce -5.8%
SEMR Semrush Holdings Inc. Class A 0.06% 243,600 $2.3M New
BX Blackstone Inc. 0.05% 15,975 $2.2M Reduce -1.3%
PCAR Paccar Inc. 0.05% 22,835 $2.2M Reduce -2.6%
NXPI NXP Semiconductors NV 0.05% 10,900 $2.1M Reduce -45.5%
JNJ Johnson & Johnson 0.04% 10,389 $1.7M Reduce -3.1%
WM Waste Management Inc. 0.04% 7,230 $1.7M Add +134.0%
CYBR Cyberark Software Ltd./Israel 0.04% 4,755 $1.6M New
NEE Nextera Energy Inc. 0.04% 21,403 $1.5M Add +23.0%
ECL Ecolab Inc. 0.03% 5,500 $1.4M Reduce -2.3%
NBIS Nebius Group NV 0.03% 63,050 $1.3M New
BDX Becton Dickinson and Co. 0.03% 4,835 $1.1M Reduce -2.9%
SBUX Starbucks Corp. 0.03% 11,052 $1.1M Reduce -3.7%
TSCO Tractor Supply Company 0.02% 18,530 $1.0M Reduce -0.5%
CSCO Cisco Systems Inc. 0.02% 14,855 $917K Reduce -5.5%
STZ Constellation Brands Inc. Class A 0.02% 3,910 $718K Reduce -6.6%
DSI iShares ESG MSCI KLD 400 ETF 0.02% 6,750 $691K No change
GOOGL Alphabet Inc. Class A 0.02% 4,120 $637K Reduce -1.8%
ACN Accenture PLC Class A 0.02% 2,018 $630K Reduce -1.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.01% 5,328 $526K Reduce -2.1%
AXP American Express Co. 0.01% 1,700 $457K No change
ABBV Abbvie Inc. 0.01% 1,923 $403K No change
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.01% 650 $273K No change

Show all 101 holdings

Portfolio Sells Q4 2024 → Q1 2025
TSLA Tesla Inc. Reduce -1.9% 6.41% −2.10
CDNS Cadence Design SYS Inc. Reduce -72.5% 0.27% −0.69
NOW ServiceNow Inc. Reduce -2.3% 3.12% −0.43
AMD Advanced Micro Devices Reduce -15.5% 2.21% −0.36
NVDA Nvidia Corp. Reduce -0.6% 8.22% −0.34
EXAS Exact Sciences Corp. Reduce -15.1% 1.23% −0.34
AVGO Broadcom Inc. Reduce -0.0% 1.51% −0.24
AMZN Amazon.com Inc. Reduce -7.1% 5.37% −0.20
DDOG Datadog Inc. Class A Reduce -0.9% 0.51% −0.11
MDB Mongodb Inc. Reduce -15.4% 0.28% −0.09
FSLR First Solar Inc. Sold out 0.00% −0.08
SYM Symbotic Inc. Reduce -23.3% 0.28% −0.08
ONON On Holding AG Class A Reduce -6.7% 0.63% −0.07
WING Wingstop Inc. Reduce -1.9% 0.94% −0.07
GOOG Alphabet Inc. Class C Reduce -0.8% 2.49% −0.07
SHOP Shopify Inc. Class A Reduce -8.0% 5.62% −0.06
RGEN Repligen Corp. Reduce -22.3% 0.27% −0.06
ABNB Airbnb Inc. Class A Reduce -13.0% 0.86% −0.05
CRDO Credo Technology Group Holdi Reduce -0.3% 0.09% −0.04
NXPI NXP Semiconductors NV Reduce -45.5% 0.05% −0.03
SOUN Soundhound AI Inc. Class A Sold out 0.00% −0.01
ALAB Astera Labs Inc. Sold out 0.00% −0.00
DHI D.R. Horton Inc. Sold out 0.00% −0.00
BX Blackstone Inc. Reduce -1.3% 0.05% −0.00
STZ Constellation Brands Inc. Class A Reduce -6.6% 0.02% −0.00
GOOGL Alphabet Inc. Class A Reduce -1.8% 0.02% −0.00
BE Bloom Energy Corp. Class A Reduce -5.8% 0.06% −0.00
DIS The Walt Disney Co. Reduce -2.1% 0.01% +0.00
ACN Accenture PLC Class A Reduce -1.0% 0.02% +0.00
APPF Appfolio Inc. Class A Reduce -4.5% 0.11% +0.00
ORCL Oracle Corp. Reduce -0.0% 0.56% +0.00
CSCO Cisco Systems Inc. Reduce -5.5% 0.02% +0.00
BDX Becton Dickinson and Co. Reduce -2.9% 0.03% +0.00
PCAR Paccar Inc. Reduce -2.6% 0.05% +0.00
TSCO Tractor Supply Company Reduce -0.5% 0.02% +0.00
BLK BlackRock Inc. Reduce -4.5% 0.10% +0.01
SBUX Starbucks Corp. Reduce -3.7% 0.03% +0.01
ECL Ecolab Inc. Reduce -2.3% 0.03% +0.01
RIVN Rivian Automotive Inc. Class A Reduce -0.2% 0.07% +0.01
HD Home Depot Inc. Reduce -3.9% 0.10% +0.01
JNJ Johnson & Johnson Reduce -3.1% 0.04% +0.01
ZTS Zoetis Inc. Reduce -0.6% 0.06% +0.01
BR Broadridge Financial Solutio Reduce -15.6% 0.17% +0.01
ABT Abbott Laboratories Reduce -2.5% 0.07% +0.02
PAYX Paychex Inc. Reduce -0.9% 0.08% +0.02
AMGN Amgen Inc. Reduce -2.6% 0.07% +0.02
CTAS Cintas Corp. Reduce -3.5% 0.10% +0.02
ASML ASML Holding NV-NY Reg SHS Reduce -2.3% 0.22% +0.02
JPM JPMorgan Chase & Co. Reduce -1.8% 0.18% +0.03
BKNG Booking Holdings Inc. Reduce -0.6% 0.35% +0.03

Portfolio Buys Q4 2024 → Q1 2025
SNOW Snowflake Inc. Add +23.1% 1.10% +0.31
DXCM Dexcom Inc. Add +34.7% 0.87% +0.25
CWAN Clearwater Analytics HDS-A Add +48.6% 0.59% +0.25
ARES Ares Management Corp. Class A Add +55.4% 0.54% +0.19
IOT Samsara Inc. Class A Add +42.0% 0.55% +0.18
TOST Toast Inc. Class A Add +1.0% 1.80% +0.16
PCOR Procore Technologies Inc. Add +101.2% 0.29% +0.16
MU Micron Technology Inc. Add +0.3% 0.66% +0.13
RKLB Rocket Lab USA Inc. New 0.07% +0.07
PINS Pinterest Inc. Class A Add +4.3% 0.29% +0.07
SEMR Semrush Holdings Inc. Class A New 0.06% +0.06
ARM Arm Holdings PLC-ADR Add +0.2% 1.23% +0.04
PWR Quanta Services Inc. Add +11.3% 0.67% +0.04
APH Amphenol Corp. Class A Add +2.9% 0.28% +0.04
CYBR Cyberark Software Ltd./Israel New 0.04% +0.04
HUBS HubSpot Inc. Add +8.8% 0.58% +0.04
NBIS Nebius Group NV New 0.03% +0.03
WM Waste Management Inc. Add +134.0% 0.04% +0.03
NEE Nextera Energy Inc. Add +23.0% 0.04% +0.01
SPY SS SPDR S&P 500 ETF Trust-US Add +0.0% 0.06% +0.01
XMTR Xometry Inc. Class A Add +5.1% 0.01% −0.00
DELL Dell Technologies -C Add +0.2% 0.35% −0.02
ELF Elf Beauty Inc. Add +9.9% 1.04% −0.54
TTD Trade Desk Inc./the Class A Add +3.7% 2.90% −2.12

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 109$4.4BNVDA, AMD, TSLA, MU, GOOG
Q1 2026 110$3.5BNVDA, TSLA, GOOG, SHOP, AMZN
Q4 2025 105$4.5BNVDA, TSLA, SHOP, META, AMZN
Q3 2025 103$5.1BNVDA, TSLA, SHOP, META, AXON
Q2 2025 105$5.1BNVDA, AXON, TSLA, META, MELI
Q1 2025 101$4.1BNVDA, TSLA, MELI, META, SHOP
Q4 2024 101$4.9BNVDA, TSLA, SHOP, AMZN, AXON
Q3 2024 103$4.8BNVDA, TSLA, MELI, META, AMZN
Q2 2024 102$4.7BNVDA, AMZN, TSLA, MELI, META
Q1 2024 104$4.7BNVDA, AMZN, META, MELI, TSLA