Ziff Davis
276 hedge funds and large institutions have $1.55B invested in Ziff Davis in 2025 Q4 according to their latest regulatory filings, with 44 funds opening new positions, 98 increasing their positions, 107 reducing their positions, and 43 closing their positions.
33% more funds holding in top 10
Funds holding in top 10: 3 → 4 (+1)
4.6% more ownership
Funds ownership: 107.3% → 111.9% (+4.6%)
2% more first-time investments, than exits
New positions opened: 44 | Existing positions closed: 43
8% less repeat investments, than reductions
Existing positions increased: 98 | Existing positions reduced: 107
1% less funds holding
Funds holding: 279 → 276 (-3)
7% less capital invested
Capital invested by funds: $1.68B → $1.55B (-$122M)
23% less call options, than puts
Call options by funds: $2.03M | Put options by funds: $2.64M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PFCS
Pale Fire Capital SE
Prague,
Czech Republic
|
+$28.2M |
| 2 |
Goldman Sachs
New York
|
+$15.1M |
| 3 |
D.E. Shaw & Co
New York
|
+$10.4M |
| 4 |
AQR Capital Management
Greenwich,
Connecticut
|
+$6.53M |
| 5 |
ICM
Invenomic Capital Management
Boston,
Massachusetts
|
+$5.2M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
ACH
ArrowMark Colorado Holdings
Denver,
Colorado
|
-$26.6M |
| 2 |
Legal & General Group
London,
United Kingdom
|
-$11.8M |
| 3 |
Arrowstreet Capital
Boston,
Massachusetts
|
-$11.1M |
| 4 |
Nordea Investment Management
Stockholm,
Sweden
|
-$7.98M |
| 5 |
Vanguard Group
Malvern,
Pennsylvania
|
-$6.35M |
ZD Hedge Fund Activity: Q4 2025 in Review
276 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Ziff Davis (ZD) for Q4 2025, worth a combined $1.55B — down 7.3% from $1.68B a quarter earlier.
Buyers outnumbered sellers: 44 funds opened new ZD positions and 43 closed out — a net gain of 1 holder — while 98 added to existing stakes and 107 trimmed.
The largest buyer was Pale Fire Capital SE, adding an estimated $28.2M. The largest seller was ArrowMark Colorado Holdings, cutting an estimated $26.6M.
- 276 institutional investors held Ziff Davis (ZD) as of Q4 2025, down from 279 in Q3 2025.
- Funds reported $1.55B of Ziff Davis stock for Q4 2025, down 7.3% quarter-over-quarter.
- 44 funds opened new Ziff Davis positions in Q4 2025 and 43 closed out, a net change of +1 holder.
- The largest Ziff Davis buyer in Q4 2025 was Pale Fire Capital SE, an estimated $28.2M added.
- The largest Ziff Davis seller in Q4 2025 was ArrowMark Colorado Holdings, an estimated $26.6M sold.
Based on aggregated 13F filings for Q4 2025.