Seattle Investment Firm Trims Amazon Stake by 16%

Zevenbergen Capital reduces its position in the e-commerce giant amid broader market concerns.

Apr. 9, 2026 at 5:09pm

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An extreme close-up of the inner workings of a financial data processing system, with intricate gears, circuits, and machinery in shades of silver, black, and blue, conceptually representing the complex infrastructure behind institutional investment decisions.A close-up view of the complex machinery behind institutional investment decisions reflects the cautious approach some firms are taking towards tech giants like Amazon.Seattle Today

Zevenbergen Capital Investments LLC, a Seattle-based investment management firm, has trimmed its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 16.1% in the fourth quarter of 2025. The firm still maintains a significant position, owning 845,418 shares worth $195.14 million, making Amazon its fifth-largest holding.

Why it matters

Amazon's stock has been a consistent performer, but this move by Zevenbergen Capital suggests the firm may be taking a more cautious approach to the e-commerce giant's valuation. The reduction in stake could signal broader concerns about Amazon's growth prospects or the overall market environment.

The details

According to a recent SEC filing, Zevenbergen Capital sold 162,036 shares of Amazon during the fourth quarter, reducing its total position by 16.1%. The firm still holds a sizable stake, with Amazon accounting for 4.3% of its total portfolio. Zevenbergen Capital is known for its focus on high-growth technology companies, and Amazon has been a long-term holding for the firm.

  • Zevenbergen Capital filed its Q4 2025 holdings report with the SEC on April 9, 2026.

The players

Zevenbergen Capital Investments LLC

A Seattle-based investment management firm that focuses on high-growth technology companies.

Amazon.com, Inc.

The e-commerce giant and technology conglomerate headquartered in Seattle, Washington.

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The takeaway

This move by Zevenbergen Capital highlights the ongoing scrutiny and caution surrounding Amazon's valuation and growth prospects, even as the company remains a dominant force in the technology and e-commerce sectors.