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Ziff Davis
ZD

268 hedge funds and large institutions have $1.66B invested in Ziff Davis in 2025 Q1 according to their latest regulatory filings, with 42 funds opening new positions, 84 increasing their positions, 99 reducing their positions, and 29 closing their positions.

New
Increased
Maintained
Reduced
Closed

45% more first-time investments, than exits

New positions opened: 42 | Existing positions closed: 29

4% more funds holding

Funds holding: 257 → 268 (+11)

0% more funds holding in top 10

Funds holding in top 10: 3 → 3 (0)

3% less call options, than puts

Call options by funds: $2.24M | Put options by funds: $2.31M

4.45% less ownership

Funds ownership: 107.2% → 102.74% (-4.5%)

15% less repeat investments, than reductions

Existing positions increased: 84 | Existing positions reduced: 99

33% less capital invested

Capital invested by funds: $2.49B → $1.66B (-$834M)

Holders
268
Holders Change
+11
Holders Change %
+4.28%
% of All Funds
3.59%
Holding in Top 10
3
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.04%
New
42
Increased
84
Reduced
99
Closed
29
Calls
$2.24M
Puts
$2.31M
Net Calls
-$64K
Net Calls Change
+$117M

Top Buyers

1
PFCS
Pale Fire Capital SE
Czech Republic
+$12M
2
Allspring Global Investments
Allspring Global Investments
North Carolina
+$8.69M
3
Citadel Advisors
Citadel Advisors
Florida
+$7.25M
4
Victory Capital Management
Victory Capital Management
Texas
+$5.79M
5
RHJA
Rice Hall James & Associates
California
+$5.18M

Top Sellers

1
RA
Royce & Associates
New York
-$40.2M
2
Pacer Advisors
Pacer Advisors
Pennsylvania
-$35.6M
3
BlackRock
BlackRock
New York
-$17.3M
4
Assenagon Asset Management
Assenagon Asset Management
Luxembourg
-$11.9M
5
ACH
ArrowMark Colorado Holdings
Colorado
-$11.3M
Name Holding Trade Value Shares
Change 		Change in
Stake
BCM
26
Bridgeway Capital Management
Texas
$9.94M +$2.57M +53,521 +25%
Bank of America
27
Bank of America
North Carolina
$9.93M +$4.97M +103,624 +65%
PFCS
28
Pale Fire Capital SE
Czech Republic
$9.37M +$12M +249,325 New
GT
29
Glenmede Trust
Pennsylvania
$9.18M -$409K -8,531 -3%
Principal Financial Group
30
Principal Financial Group
Iowa
$8M +$262K +5,456 +3%
Goldman Sachs
31
Goldman Sachs
New York
$7.96M -$1.36M -28,393 -12%
UBS Group
32
UBS Group
Switzerland
$7.82M -$322K -6,711 -3%
CIM
33
Cambria Investment Management
California
$7.57M -$848K -17,690 -8%
Invesco
34
Invesco
Georgia
$7M +$990K +20,630 +12%
Allianz Asset Management
35
Allianz Asset Management
Germany
$6.85M +$2.05M +42,645 +31%
EF
36
Empowered Funds
Pennsylvania
$6.76M +$197K +4,115 +2%
Victory Capital Management
37
Victory Capital Management
Texas
$6.46M +$5.79M +120,817 +237%
ICM
38
Invenomic Capital Management
Massachusetts
$6.35M +$1.96M +40,942 +32%
Retirement Systems of Alabama
39
Retirement Systems of Alabama
Alabama
$6.16M – – –
UBS AM
40
UBS AM
Illinois
$6.04M +$177K +3,696 +2%
Citadel Advisors
41
Citadel Advisors
Florida
$6.01M +$7.25M +151,080 +1,721%
Ameriprise
42
Ameriprise
Minnesota
$5.18M -$516K -10,754 -7%
Public Sector Pension Investment Board (PSP Investments)
43
Public Sector Pension Investment Board (PSP Investments)
Quebec, Canada
$5.09M +$1.39M +29,030 +27%
RhumbLine Advisers
44
RhumbLine Advisers
Massachusetts
$4.77M -$347K -7,241 -5%
STB
45
S&T Bank
Pennsylvania
$4.74M -$70.4K -1,468 -1%
Axa
46
Axa
France
$4.68M +$1.17M +24,441 +24%
TAM
47
Tocqueville Asset Management
New York
$4.52M +$1.28M +26,700 +28%
CIM
48
Corbyn Investment Management
Maryland
$4.27M +$153K +3,199 +3%
LSV Asset Management
49
LSV Asset Management
Illinois
$4M +$5.1M +106,346 New
TC
50
TwinBeech Capital
New York
$3.91M +$4.99M +104,083 New
1
2
3 4 5

ZD Hedge Fund Activity: Q1 2025 in Review

268 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in Ziff Davis (ZD) for Q1 2025, worth a combined $1.66B — down 33% from $2.49B a quarter earlier.

Buyers outnumbered sellers: 42 funds opened new ZD positions and 29 closed out — a net gain of 13 holders — while 84 added to existing stakes and 99 trimmed.

The largest buyer was Pale Fire Capital SE, opening a new position worth an estimated $12M. The largest seller was Royce & Associates, cutting an estimated $40.2M.

  • 268 institutional investors held Ziff Davis (ZD) as of Q1 2025, up from 257 in Q4 2024.
  • Funds reported $1.66B of Ziff Davis stock for Q1 2025, down 33% quarter-over-quarter.
  • 42 funds opened new Ziff Davis positions in Q1 2025 and 29 closed out, a net change of +13 holders.
  • The largest Ziff Davis buyer in Q1 2025 was Pale Fire Capital SE, an estimated $12M added.
  • The largest Ziff Davis seller in Q1 2025 was Royce & Associates, an estimated $40.2M sold.

Based on aggregated 13F filings for Q1 2025.