Seattle Investment Firm Trims Amazon Stake by 16%

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

Apr. 9, 2026 at 10:09pm

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A close-up photograph of a polished metal paperweight or bookend in the shape of a miniature skyscraper, resting on a clean, monochromatic background and dramatically lit to represent the complex machinery behind institutional investment decisions.A high-end studio still life captures the cautious approach some investment 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 case highlights the cautious approach some investment firms are taking towards tech giants like Amazon, potentially signaling broader concerns about the company's growth prospects or the overall market environment.