SPO Advisory’s Zillow Z Stock Holding History

SPO Advisory’s Portfolio Z Stock Details Z Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2019 Q1	–	Sell	-575,000	Closed	-$18.2M	–	12
2018 Q4	$18.2M	Sell	575,000 -6,147,900	-91%	-$218M	0.86%	11
2018 Q3	$297M	Buy	6,722,900 +1,678,000	+33%	+$87.5M	7.27%	7
2018 Q2	$298M	Buy	5,044,900 +1,671,100	+50%	+$92.6M	6.27%	9
2018 Q1	$182M	Hold	3,373,800	–	–	3.74%	12
2017 Q4	$138M	Buy	3,373,800 +12,300	+0.4%	+$506K	2.86%	11
2017 Q3	$135M	Buy	3,361,500 +973,000	+41%	+$41.1M	2.69%	11
2017 Q2	$117M	Buy	+2,388,500	New	+$100M	2.3%	12

Other funds holding Z

CIA

Caledonia Investments (Australia) Sydney NSW, Australia $3.44B AUM 20.03% 1-Year Est. Return

Baillie Gifford & Co Edinburgh, United Kingdom $97.9B AUM 20.73% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return

Wellington Management Group Boston, Massachusetts $535B AUM 26.23% 1-Year Est. Return

HSBC Holdings London, United Kingdom $192B AUM 27.2% 1-Year Est. Return

SIM

SRS Investment Management New York $9.47B AUM 60.12% 1-Year Est. Return

Sumitomo Mitsui Trust Group Minato-Ku, Tokyo, Japan $154B AUM 29.96% 1-Year Est. Return

NAMA

Nikko Asset Management Americas New York $7.07B AUM 50.91% 1-Year Est. Return

SPO Advisory's Z Position: Q1 2019 in Review

SPO Advisory sold out of Zillow (Z) in Q1 2019, closing a stake of 575,000 shares — an estimated $18.2M sold.

SPO Advisory first reported a position in Z in Q2 2017 and held it in 7 quarters. The position peaked at $298M in Q2 2018. 280 funds tracked by Wall St. Rank hold Z as of Q1 2019.

SPO Advisory reported no remaining Zillow position as of Q1 2019 after selling out during the quarter.
SPO Advisory sold 575,000 Zillow shares in Q1 2019, an estimated $18.2M.
SPO Advisory first reported a position in Zillow in Q2 2017 and held it in 7 quarters.
SPO Advisory's Zillow position peaked at $298M in Q2 2018.
280 funds tracked by Wall St. Rank held Zillow as of Q1 2019.

Based on SPO Advisory's 13F filing for Q1 2019.