Zevenbergen Capital Discloses $5.1B Portfolio in Q3 13F Filing
ZEVENBERGEN CAPITAL INVESTMENTS LLC
Filing Summary
Zevenbergen Capital Discloses $5.1B Portfolio in Q3 13F Filing
Filer: ZEVENBERGEN CAPITAL INVESTMENTS LLC Form: 13F-HR | Filed: 2025-10-09 Significance: Medium
Filing Summary: • Type: Quarterly Holdings Report • Total Value: $5,144,247,449 • Positions: 178 • Period of Report: 2025-09-30
Top 5 Holdings:
- NVIDIA (NVDA): ~$519.8M
- Tesla (TSLA): ~$383.7M
- Shopify (SHOP): ~$304.9M
- Meta Platforms (META): ~$284.6M
- Axon Enterprise (AXON): ~$265.1M
Key Insight: The filing reveals a strong, continued concentration in high-growth technology, AI, and e-commerce sectors, reflecting a bullish institutional stance on these industries heading into the fourth quarter.
This is PUBLIC SEC data for educational purposes. Not investment advice.
Comprehensive Analysis
SEC Filing Analysis: ZEVENBERGEN CAPITAL INVESTMENTS LLC
Executive Summary
- Trading Significance: Medium
- Key Takeaway: Zevenbergen Capital Investments LLC reported a portfolio valued at approximately $5.14 billion, with a heavy concentration in the technology, consumer discretionary, and communication services sectors, underscoring a strong growth-focused investment strategy.
- Market Impact: This filing provides a valuable snapshot of institutional sentiment for high-growth stocks. While not a direct market mover, it reinforces the conviction of a major growth-oriented fund in names like NVIDIA, Tesla, and Shopify, which can influence investor perception.
Filer Information
| Field | Value |
|---|---|
| Filer Name | ZEVENBERGEN CAPITAL INVESTMENTS LLC |
| CIK | 0001276918 |
| Total Portfolio Value | $5,144,247,449 |
| Number of Holdings | 178 |
Filing Details
| Field | Value |
|---|---|
| Form Type | 13F-HR |
| Filing Date | 2025-10-09 |
| Period of Report | 2025-09-30 |
| Accession Number | 0001276918-25-000017 |
Top Holdings Analysis
The portfolio is significantly weighted towards large-cap growth stocks, particularly in the technology sector. The top five holdings alone account for a substantial portion of the total reported value.
| Issuer | Ticker (if known) | Value (USD) | Shares |
|---|---|---|---|
| NVIDIA Corporation | NVDA | $519,774,751 | 2,785,801 |
| Tesla, Inc. | TSLA | $383,658,610 | 862,697 |
| Shopify Inc. | SHOP | $304,938,804 | 2,051,940 |
| Meta Platforms, Inc. | META | $284,644,219 | 387,598 |
| Axon Enterprise, Inc. | AXON | $265,070,381 | 369,364 |
Investment Strategy Insights
Positive Market Indicators
- High-Conviction Growth Bets: The significant allocation to names like NVIDIA, Tesla, and Shopify indicates a strong belief in their long-term growth narratives related to AI, electric vehicles, and e-commerce, respectively.
- Sector Concentration: The focus on technology and disruptive innovation suggests the firm is positioned to capitalize on major secular trends.
- Broad Tech Exposure: Holdings span various tech sub-sectors including semiconductors (NVIDIA), software (ServiceNow, Microsoft), e-commerce (Shopify, MercadoLibre), and cloud computing (Amazon, Snowflake).
Risk Factors
- Sector Concentration Risk: The portfolio's heavy reliance on the technology sector makes it vulnerable to sector-specific downturns, regulatory changes, or shifts in market sentiment away from growth stocks.
- High Valuation Exposure: Many of the top holdings trade at high valuation multiples, which could lead to significant volatility during market corrections or if growth expectations are not met.
Key Takeaways
- Bullish on AI & Computing: NVIDIA remains the top holding, highlighting a strong conviction in the artificial intelligence and high-performance computing markets.
- Commitment to E-Commerce & Digital Payments: Large positions in Shopify, MercadoLibre, and Amazon show a continued bullish outlook on the global shift to digital commerce.
- Faith in Disruptive Technology: The portfolio is built around companies aiming to disrupt established industries, from automotive (Tesla, Rivian) and public safety (Axon) to enterprise software (ServiceNow, Datadog).
Contextual Analysis
Filing Context
A Form 13F-HR is a mandatory quarterly report for institutional investment managers with over $100 million in assets under management. It discloses their long positions in publicly traded securities as of the end of the calendar quarter. This filing reflects holdings as of September 30, 2025, and does not include short positions, cash, or other asset classes. The positions may have changed between the reporting date and the filing date.
Firm Context
Zevenbergen Capital Investments is known for its growth-at-a-reasonable-price (GARP) investment philosophy, focusing on innovative companies with large addressable markets and sustainable competitive advantages. This filing is consistent with their stated strategy.
IMPORTANT DISCLAIMER: This analysis is for informational purposes only and is not intended as investment advice. The information presented is based on publicly available SEC filings and should not be construed as a recommendation to buy, sell, or hold any securities. Past performance does not guarantee future results. All investments carry risk, including the potential loss of principal. Please consult with a qualified financial advisor before making any investment decisions.
Analysis generated on 2025-10-10 | Data source: SEC EDGAR
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Important Disclaimer
This content is drawn from public SEC filings and may contain errors. It is for informational purposes only and is not investment, legal, or tax advice.
Nothing here is a recommendation to buy, sell, or hold any security. Do your own due diligence.