Oren Zeev and affiliated funds report a major stake in Navan, Inc. They collectively beneficially own 37,347,067 shares of Navan Class A common stock, representing 16.01% of the class, based on 233,339,369 shares outstanding as reported in Navan’s Form 10-Q filed on December 15, 2025.
Zeev, a director of Navan, is the managing member of multiple Zeev Ventures and Zeev Opportunity management entities and has sole voting and dispositive power over the shares held by the related funds. Individual fund positions range from hundreds of thousands to over 15 million shares, with several funds each holding between 0.16% and 6.76% of the Class A common stock.
Positive
None.
Negative
None.
Insights
Filing discloses a 16.01% Navan stake held by director Oren Zeev and affiliated funds, without signaling any change in control or strategy.
Navan, Inc. now has a publicly disclosed large shareholder. The filing shows Oren Zeev and various Zeev-branded funds beneficially own 37,347,067 Class A shares, or 16.01% of the class, using 233,339,369 shares outstanding from Navan’s Form 10-Q filed on December 15, 2025.
Zeev is a director of Navan and managing member of several general partner entities, which gives him sole voting and dispositive power over the shares held by the funds. This structure concentrates influence, but the Schedule 13G format indicates a passive ownership filing rather than an activist 13D.
The individual fund stakes, such as 15,766,767 shares (6.76%) in Zeev Ventures II-A, L.P. and 10,823,032 shares (4.64%) in Zeev Ventures III, L.P., show the position is diversified across multiple vehicles. Actual future impact depends on any subsequent ownership changes or additional filings that might indicate shifts in intent.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
NAVAN, INC.
(Name of Issuer)
Class A Common Stock
(Title of Class of Securities)
639193101
(CUSIP Number)
10/31/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
639193101
1
Names of Reporting Persons
Oren Zeev
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
37,347,067.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
37,347,067.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
37,347,067.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
16.01 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: As of the date hereof, the Reporting Person's beneficial ownership consists of 37,347,067 shares of Class A Common Stock. The percentage reported in Item 11 is based on 233,339,369 shares of Class A common stock outstanding as reported in the Issuer's Form 10-Q filed with the SEC on December 15, 2025.
SCHEDULE 13G
CUSIP No.
639193101
1
Names of Reporting Persons
Zeev Opportunity Fund I, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
770,077.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
770,077.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
770,077.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.33 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: As of the date hereof, the Reporting Person's beneficial ownership consists of 770,077 shares of Class A Common Stock. The percentage reported in Item 11 is based on 233,339,369 shares of Class A common stock outstanding as reported in the Issuer's Form 10-Q filed with the SEC on December 15, 2025.
SCHEDULE 13G
CUSIP No.
639193101
1
Names of Reporting Persons
Zeev Opportunity Management I, L.L.C.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
770,077.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
770,077.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
770,077.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.33 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: As of the date hereof, the Reporting Person's beneficial ownership consists of 770,077 shares of Class A Common Stock. The percentage reported in Item 11 is based on 233,339,369 shares of Class A common stock outstanding as reported in the Issuer's Form 10-Q filed with the SEC on December 15, 2025.
SCHEDULE 13G
CUSIP No.
639193101
1
Names of Reporting Persons
Zeev Ventures II, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
4,529,493.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
4,529,493.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,529,493.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
1.94 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: As of the date hereof, the Reporting Person's beneficial ownership consists of 4,529,493 shares of Class A Common Stock. The percentage reported in Item 11 is based on 233,339,369 shares of Class A common stock outstanding as reported in the Issuer's Form 10-Q filed with the SEC on December 15, 2025.
SCHEDULE 13G
CUSIP No.
639193101
1
Names of Reporting Persons
Zeev Ventures Management II, L.L.C.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
4,529,493.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
4,529,493.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,529,493.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
1.94 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: As of the date hereof, the Reporting Person's beneficial ownership consists of 4,529,493 shares of Class A Common Stock. The percentage reported in Item 11 is based on 233,339,369 shares of Class A common stock outstanding as reported in the Issuer's Form 10-Q filed with the SEC on December 15, 2025.
SCHEDULE 13G
CUSIP No.
639193101
1
Names of Reporting Persons
Zeev Ventures II-A, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
15,766,767.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
15,766,767.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
15,766,767.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.76 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: As of the date hereof, the Reporting Person's beneficial ownership consists of 15,766,767 shares of Class A Common Stock. The percentage reported in Item 11 is based on 233,339,369 shares of Class A common stock outstanding as reported in the Issuer's Form 10-Q filed with the SEC on December 15, 2025.
SCHEDULE 13G
CUSIP No.
639193101
1
Names of Reporting Persons
Zeev Ventures Management II-A, L.L.C.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
15,766,767.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
15,766,767.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
15,766,767.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.76 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: As of the date hereof, the Reporting Person's beneficial ownership consists of 15,766,767 shares of Class A Common Stock. The percentage reported in Item 11 is based on 233,339,369 shares of Class A common stock outstanding as reported in the Issuer's Form 10-Q filed with the SEC on December 15, 2025.
SCHEDULE 13G
CUSIP No.
639193101
1
Names of Reporting Persons
Zeev Ventures III, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
10,823,032.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
10,823,032.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
10,823,032.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.64 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: As of the date hereof, the Reporting Person's beneficial ownership consists of 10,823,032 shares of Class A Common Stock. The percentage reported in Item 11 is based on 233,339,369 shares of Class A common stock outstanding as reported in the Issuer's Form 10-Q filed with the SEC on December 15, 2025.
SCHEDULE 13G
CUSIP No.
639193101
1
Names of Reporting Persons
Zeev Ventures Management III, L.L.C.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
10,823,032.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
10,823,032.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
10,823,032.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.64 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: As of the date hereof, the Reporting Person's beneficial ownership consists of 10,823,032 shares of Class A Common Stock. The percentage reported in Item 11 is based on 233,339,369 shares of Class A common stock outstanding as reported in the Issuer's Form 10-Q filed with the SEC on December 15, 2025.
SCHEDULE 13G
CUSIP No.
639193101
1
Names of Reporting Persons
Zeev Ventures IV, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
1,974,957.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
1,974,957.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,974,957.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.85 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: As of the date hereof, the Reporting Person's beneficial ownership consists of 1,974,957 shares of Class A Common Stock. The percentage reported in Item 11 is based on 233,339,369 shares of Class A common stock outstanding as reported in the Issuer's Form 10-Q filed with the SEC on December 15, 2025.
SCHEDULE 13G
CUSIP No.
639193101
1
Names of Reporting Persons
Zeev Ventures Management IV, L.L.C.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
1,974,957.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
1,974,957.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,974,957.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.85 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: As of the date hereof, the Reporting Person's beneficial ownership consists of 1,974,957 shares of Class A Common Stock. The percentage reported in Item 11 is based on 233,339,369 shares of Class A common stock outstanding as reported in the Issuer's Form 10-Q filed with the SEC on December 15, 2025.
SCHEDULE 13G
CUSIP No.
639193101
1
Names of Reporting Persons
Zeev Ventures V, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
1,000,915.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
1,000,915.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,000,915.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.43 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: As of the date hereof, the Reporting Person's beneficial ownership consists of 1,000,915 shares of Class A Common Stock. The percentage reported in Item 11 is based on 233,339,369 shares of Class A common stock outstanding as reported in the Issuer's Form 10-Q filed with the SEC on December 15, 2025.
SCHEDULE 13G
CUSIP No.
639193101
1
Names of Reporting Persons
Zeev Ventures Management V, L.L.C.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
1,000,915.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
1,000,915.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,000,915.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.43 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: As of the date hereof, the Reporting Person's beneficial ownership consists of 1,000,915 shares of Class A Common Stock. The percentage reported in Item 11 is based on 233,339,369 shares of Class A common stock outstanding as reported in the Issuer's Form 10-Q filed with the SEC on December 15, 2025.
SCHEDULE 13G
CUSIP No.
639193101
1
Names of Reporting Persons
Zeev Ventures VI, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
382,900.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
382,900.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
382,900.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.16 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: As of the date hereof, the Reporting Person's beneficial ownership consists of 382,900 shares of Class A Common Stock. The percentage reported in Item 11 is based on 233,339,369 shares of Class A common stock outstanding as reported in the Issuer's Form 10-Q filed with the SEC on December 15, 2025.
SCHEDULE 13G
CUSIP No.
639193101
1
Names of Reporting Persons
Zeev Ventures Management VI, L.L.C.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
382,900.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
382,900.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
382,900.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.16 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: As of the date hereof, the Reporting Person's beneficial ownership consists of 382,900 shares of Class A Common Stock. The percentage reported in Item 11 is based on 233,339,369 shares of Class A common stock outstanding as reported in the Issuer's Form 10-Q filed with the SEC on December 15, 2025.
SCHEDULE 13G
CUSIP No.
639193101
1
Names of Reporting Persons
Zeev Ventures VII, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
1,124,268.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
1,124,268.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,124,268.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.48 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: As of the date hereof, the Reporting Person's beneficial ownership consists of 1,124,268 shares of Class A Common Stock. The percentage reported in Item 11 is based on 233,339,369 shares of Class A common stock outstanding as reported in the Issuer's Form 10-Q filed with the SEC on December 15, 2025.
SCHEDULE 13G
CUSIP No.
639193101
1
Names of Reporting Persons
Zeev Ventures Management VII, L.L.C.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
1,124,268.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
1,124,268.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,124,268.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.48 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: As of the date hereof, the Reporting Person's beneficial ownership consists of 1,124,268 shares of Class A Common Stock. The percentage reported in Item 11 is based on 233,339,369 shares of Class A common stock outstanding as reported in the Issuer's Form 10-Q filed with the SEC on December 15, 2025.
SCHEDULE 13G
CUSIP No.
639193101
1
Names of Reporting Persons
Zeev Ventures VIII, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
917,394.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
917,394.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
917,394.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.39 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: As of the date hereof, the Reporting Person's beneficial ownership consists of 917,394 shares of Class A Common Stock. The percentage reported in Item 11 is based on 233,339,369 shares of Class A common stock outstanding as reported in the Issuer's Form 10-Q filed with the SEC on December 15, 2025.
SCHEDULE 13G
CUSIP No.
639193101
1
Names of Reporting Persons
Zeev Ventures Management VIII, L.L.C.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
917,394.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
917,394.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
917,394.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.39 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: As of the date hereof, the Reporting Person's beneficial ownership consists of 917,394 shares of Class A Common Stock. The percentage reported in Item 11 is based on 233,339,369 shares of Class A common stock outstanding as reported in the Issuer's Form 10-Q filed with the SEC on December 15, 2025.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
NAVAN, INC.
(b)
Address of issuer's principal executive offices:
3045 Park Boulevard, Palo Alto, California
Item 2.
(a)
Name of person filing:
Each of the following is hereinafter individually referred to as a "Reporting Person" and collectively as the "Reporting Persons." This statement is filed on behalf of:
i. Oren Zeev
ii. Zeev Opportunity Fund I, L.P.
iii. Zeev Opportunity Management I, L.L.C.
iv. Zeev Ventures II, L.P.
v. Zeev Ventures Management II, L.L.C.
vi. Zeev Ventures II-A, L.P.
vii. Zeev Ventures Management II-A, L.L.C.
viii. Zeev Ventures III, L.P.
ix. Zeev Ventures Management III, L.L.C.
x. Zeev Ventures IV, L.P.
xi. Zeev Ventures Management IV, L.L.C.
xii. Zeev Ventures V, L.P.
xiii. Zeev Ventures Management V, L.L.C.
xiv. Zeev Ventures VI, L.P.
xv. Zeev Ventures Management VI, L.L.C.
xvi. Zeev Ventures VII, L.P.
xvii. Zeev Ventures Management VII, L.L.C.
xviii. Zeev Ventures VIII, L.P.
xix. Zeev Ventures Management VIII, L.L.C.
Oren Zeev is a director of the Issuer. He is also the managing member of each of Zeev Opportunity Management I, L.L.C., Zeev Ventures Management II, L.L.C., Zeev Ventures Management II-A, L.L.C., Zeev Ventures Management III, L.L.C., Zeev Ventures Management IV, L.L.C., Zeev Ventures Management V, L.L.C., Zeev Ventures Management VI, L.L.C., Zeev Ventures Management VII, L.L.C., and Zeev Ventures Management VIII, L.L.C., and, as such, may be deemed to beneficially own the shares held by each of Zeev Opportunity Fund I, L.P., Zeev Ventures II, L.P., Zeev Ventures II-A, L.P., Zeev Ventures III, L.P., Zeev Ventures IV, L.P., Zeev Ventures V, L.P., Zeev Ventures VI, L.P., Zeev Ventures VII, L.P., and Zeev Ventures VIII, L.P. (collectively, the "Funds"). Oren Zeev has voting and dispositive power over the shares held by the Funds.
Zeev Opportunity Management I, L.L.C. is the general partner of Zeev Opportunity Fund I, L.P. and, as such, may be deemed to beneficially own the shares held by Zeev Opportunity Fund I, L.P.
Zeev Ventures Management II, L.L.C. is the general partner of Zeev Ventures II, L.P. and, as such, may be deemed to beneficially own the shares held by Zeev Ventures II, L.P.
Zeev Ventures Management II-A, L.L.C. is the general partner of Zeev Ventures II-A, L.P. and, as such, may be deemed to beneficially own the shares held by Zeev Ventures II-A, L.P.
Zeev Ventures Management III, L.L.C. is the general partner of Zeev Ventures III, L.P. and, as such, may be deemed to beneficially own the shares held by Zeev Ventures III, L.P.
Zeev Ventures Management IV, L.L.C. is the general partner of Zeev Ventures IV, L.P. and, as such, may be deemed to beneficially own the shares held by Zeev Ventures IV, L.P.
Zeev Ventures Management V, L.L.C. is the general partner of Zeev Ventures V, L.P. and, as such, may be deemed to beneficially own the shares held by Zeev Ventures V, L.P.
Zeev Ventures Management VI, L.L.C. is the general partner of Zeev Ventures VI, L.P. and, as such, may be deemed to beneficially own the shares held by Zeev Ventures VI, L.P.
Zeev Ventures Management VII, L.L.C. is the general partner of Zeev Ventures VII, L.P. and, as such, may be deemed to beneficially own the shares held by Zeev Ventures VII, L.P.
Zeev Ventures Management VIII, L.L.C. is the general partner of Zeev Ventures VIII, L.P. and, as such, may be deemed to beneficially own the shares held by Zeev Ventures VIII, L.P.
(b)
Address or principal business office or, if none, residence:
To Come
(c)
Citizenship:
United States
(d)
Title of class of securities:
Class A Common Stock
(e)
CUSIP No.:
639193101
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
See Items 5-11 of the cover page for each Reporting Person.
(b)
Percent of class:
See Items 5-11 of the cover page for each Reporting Person.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See Items 5-11 of the cover page for each Reporting Person.
(ii) Shared power to vote or to direct the vote:
See Items 5-11 of the cover page for each Reporting Person.
(iii) Sole power to dispose or to direct the disposition of:
See Items 5-11 of the cover page for each Reporting Person.
(iv) Shared power to dispose or to direct the disposition of:
See Items 5-11 of the cover page for each Reporting Person.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
Not Applicable
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Oren Zeev
Signature:
/s/ Oren Zeev
Name/Title:
Director
Date:
02/12/2026
Zeev Opportunity Fund I, L.P.
Signature:
/s/ Oren Zeev
Name/Title:
Managing Member, Zeev Opportunity Management I, L.L.C., its general partner
Date:
02/12/2026
Zeev Opportunity Management I, L.L.C.
Signature:
/s/ Oren Zeev
Name/Title:
Managing Member
Date:
02/12/2026
Zeev Ventures II, L.P.
Signature:
/s/ Oren Zeev
Name/Title:
Managing Member, Zeev Ventures Management II, L.L.C., its general partner
Date:
02/12/2026
Zeev Ventures Management II, L.L.C.
Signature:
/s/ Oren Zeev
Name/Title:
Managing Member
Date:
02/12/2026
Zeev Ventures II-A, L.P.
Signature:
/s/ Oren Zeev
Name/Title:
Managing Member, Zeev Ventures Management II-A, L.L.C., its general partner
Date:
02/12/2026
Zeev Ventures Management II-A, L.L.C.
Signature:
/s/ Oren Zeev
Name/Title:
Managing Member
Date:
02/12/2026
Zeev Ventures III, L.P.
Signature:
/s/ Oren Zeev
Name/Title:
Managing Member, Zeev Ventures Management III, L.L.C., its general partner
Date:
02/12/2026
Zeev Ventures Management III, L.L.C.
Signature:
/s/ Oren Zeev
Name/Title:
Managing Member
Date:
02/12/2026
Zeev Ventures IV, L.P.
Signature:
/s/ Oren Zeev
Name/Title:
Managing Member, Zeev Ventures Management IV, L.L.C., its general partner
Date:
02/12/2026
Zeev Ventures Management IV, L.L.C.
Signature:
/s/ Oren Zeev
Name/Title:
Managing Member
Date:
02/12/2026
Zeev Ventures V, L.P.
Signature:
/s/ Oren Zeev
Name/Title:
Managing Member, Zeev Ventures Management V, L.L.C., its general partner
Date:
02/12/2026
Zeev Ventures Management V, L.L.C.
Signature:
/s/ Oren Zeev
Name/Title:
Managing Member
Date:
02/12/2026
Zeev Ventures VI, L.P.
Signature:
/s/ Oren Zeev
Name/Title:
Managing Member, Zeev Ventures Management VI, L.L.C., its general partner
Date:
02/12/2026
Zeev Ventures Management VI, L.L.C.
Signature:
/s/ Oren Zeev
Name/Title:
Managing Member
Date:
02/12/2026
Zeev Ventures VII, L.P.
Signature:
/s/ Oren Zeev
Name/Title:
Managing Member, Zeev Ventures Management VII, L.L.C., its general partner
Date:
02/12/2026
Zeev Ventures Management VII, L.L.C.
Signature:
/s/ Oren Zeev
Name/Title:
Managing Member
Date:
02/12/2026
Zeev Ventures VIII, L.P.
Signature:
/s/ Oren Zeev
Name/Title:
Managing Member, Zeev Ventures Management VIII, L.L.C., its general partner
How many Navan (NAVN) shares does Oren Zeev beneficially own?
Oren Zeev beneficially owns 37,347,067 shares of Navan Class A common stock. This amount is aggregated across Zeev-managed funds and entities and represents a substantial position disclosed in the Schedule 13G.
What percentage of Navan (NAVN) Class A stock is held by Oren Zeev and affiliates?
Oren Zeev and affiliated entities hold 16.01% of Navan’s Class A common stock. This percentage is calculated using 233,339,369 shares outstanding, as reported in Navan’s Form 10-Q filed on December 15, 2025.
Which Zeev funds are disclosed as Navan (NAVN) shareholders in this Schedule 13G?
The filing lists multiple funds, including Zeev Opportunity Fund I, L.P., Zeev Ventures II, II-A, III, IV, V, VI, VII, and VIII, L.P., plus their related management LLCs, each reporting specific Navan Class A share positions.
What are the largest individual Zeev fund positions in Navan (NAVN) shares?
Key positions include 15,766,767 shares (6.76%) held by Zeev Ventures II-A, L.P. and 10,823,032 shares (4.64%) held by Zeev Ventures III, L.P. Several other Zeev funds each hold smaller stakes below 2%.
What role does Oren Zeev have at Navan (NAVN) and in the reporting entities?
Oren Zeev is a director of Navan, Inc. and the managing member of the various Zeev management LLCs. Through these roles, he has voting and dispositive power over the Navan shares held by the affiliated funds.
As of what reference date is the Navan (NAVN) ownership percentage calculated?
The 16.01% ownership figure is based on 233,339,369 Class A shares outstanding, as reported in Navan’s Form 10-Q filed on December 15, 2025, which the Schedule 13G uses as its share count reference.
