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479 hedge funds and large institutions have $12.4B invested in Zillow in 2025 Q2 according to their latest regulatory filings, with 56 funds opening new positions, 197 increasing their positions, 154 reducing their positions, and 72 closing their positions.

New
Increased
Maintained
Reduced
Closed

78% more call options, than puts

Call options by funds: $625M | Put options by funds: $351M

28% more repeat investments, than reductions

Existing positions increased: 197 | Existing positions reduced: 154

4% more capital invested

Capital invested by funds: $11.9B → $12.4B (+$458M)

0.83% more ownership

Funds ownership: 95.47%96.3% (+0.83%)

4% less funds holding

Funds holding: 498479 (-19)

12% less funds holding in top 10

Funds holding in top 10: 1715 (-2)

22% less first-time investments, than exits

New positions opened: 56 | Existing positions closed: 72

Holders
479
Holders Change
-19
Holders Change %
-3.82%
% of All Funds
6.31%
Holding in Top 10
15
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-11.76%
% of All Funds
0.2%
New
56
Increased
197
Reduced
154
Closed
72
Calls
$625M
Puts
$351M
Net Calls
+$274M
Net Calls Change
+$4.4M
Name Holding Trade Value Shares
Change
Change in
Stake
HC
51
Hillman Company
Pennsylvania
$24.4M
Invesco
52
Invesco
Georgia
$22.2M -$12.5M -185,438 -37%
Connor, Clark & Lunn Investment Management (CC&L)
53
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
$21.5M +$4.13M +61,239 +25%
NC
54
NZS Capital
Colorado
$21.2M +$1.65M +24,536 +9%
EAM
55
Erste Asset Management
Austria
$21M +$1.68M +25,000 +9%
DKCM
56
Davidson Kempner Capital Management
New York
$21M +$20.2M +300,000 New
SEP
57
Soma Equity Partners
California
$21M +$20.2M +300,000 New
N
58
Nuveen
North Carolina
$21M -$4.08M -60,523 -17%
Robeco Institutional Asset Management
59
Robeco Institutional Asset Management
Netherlands
$20.3M -$1.3M -19,340 -6%
California State Teachers Retirement System (CalSTRS)
60
California State Teachers Retirement System (CalSTRS)
California
$20M +$1.29M +19,101 +7%
GC
61
Garde Capital
Washington
$19.6M -$268K -3,982 -1%
Qube Research & Technologies (QRT)
62
Qube Research & Technologies (QRT)
United Kingdom
$17.5M +$13.2M +196,475 +371%
BNP Paribas Financial Markets
63
BNP Paribas Financial Markets
France
$17.2M +$2.87M +42,628 +21%
NFT
64
Nan Fung Trinity
Hong Kong
$16.5M -$10.5M -156,100 -40%
California Public Employees Retirement System
65
California Public Employees Retirement System
California
$16M +$1.88M +27,884 +14%
Capital Fund Management (CFM)
66
Capital Fund Management (CFM)
France
$15M +$5.63M +83,590 +64%
NAMA
67
Nikko Asset Management Americas
New York
$14.9M -$797K -11,832 -5%
AC
68
Avory & Company
Florida
$14.3M -$23.7K -351 -0.2%
HWM
69
HB Wealth Management
Georgia
$14.1M +$13.5M +200,780 New
Bank of Montreal
70
Bank of Montreal
Ontario, Canada
$13.5M +$565K +8,383 +5%
Alyeska Investment Group
71
Alyeska Investment Group
Illinois
$12.7M +$12.2M +180,729 New
RhumbLine Advisers
72
RhumbLine Advisers
Massachusetts
$12.5M -$246K -3,658 -2%
HSBC Holdings
73
HSBC Holdings
United Kingdom
$12M +$3.91M +58,026 +51%
AQR Capital Management
74
AQR Capital Management
Connecticut
$11.9M -$25.6M -379,606 -69%
GGHC
75
Gilder Gagnon Howe & Co
New York
$11M -$12.7M -188,928 -55%

Z Hedge Fund Activity: Q2 2025 in Review

479 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Zillow (Z) for Q2 2025, worth a combined $12.4B — up 3.8% from $11.9B a quarter earlier.

Sellers outnumbered buyers: 72 funds closed out of Z and 56 opened new positions — a net loss of 16 holders — while 154 trimmed existing stakes and 197 added.

The largest buyer was Greencape Capital, adding an estimated $111M. The largest seller was Caledonia Investments (Australia), cutting an estimated $136M.

  • 479 institutional investors held Zillow (Z) as of Q2 2025, down from 498 in Q1 2025.
  • Funds reported $12.4B of Zillow stock for Q2 2025, up 3.8% quarter-over-quarter.
  • 56 funds opened new Zillow positions in Q2 2025 and 72 closed out, a net change of -16 holders.
  • The largest Zillow buyer in Q2 2025 was Greencape Capital, an estimated $111M added.
  • The largest Zillow seller in Q2 2025 was Caledonia Investments (Australia), an estimated $136M sold.

Based on aggregated 13F filings for Q2 2025.