Zillow Group, Inc.
US ˙ NasdaqGS ˙ US98954M2008

SecurityZ / Zillow Group, Inc.
InstitutionNZS Capital, LLC
Latest Disclosed Ownership584,883 shares
Latest Disclosed Value $ 24,202,459
NZS Capital, LLC reports 51.24% increase in ownership of Z / Zillow Group, Inc.

On May 15, 2026 - NZS Capital, LLC filed a 13F-HR form disclosing ownership of 584,883 shares of Zillow Group, Inc. (US:Z) valued at $24,202,459 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 12, 2026 disclosing 386,733 shares of Zillow Group, Inc.. This represents a change in shares of 51.24% during the quarter. The current value of the position is $20,505,998 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F ZILLOW GROUP CL C CAP STK 98954M200 584,883 198,150 51.24 24,202 -8.26 0.8072
2026-02-12 2025-12-31 13F ZILLOW GROUP CL C CAP STK 98954M200 386,733 63,930 19.80 26,383 6.08 0.8093
2025-11-12 2025-09-30 13F ZILLOW GROUP CL C CAP STK 98954M200 322,803 20,373 6.74 24,872 17.40 0.7616
2025-08-13 2025-06-30 13F ZILLOW GROUP CL C CAP STK 98954M200 302,430 24,536 8.83 21,185 11.20 0.7200
2025-05-14 2025-03-31 13F ZILLOW GROUP CL C CAP STK 98954M200 277,894 -3,863 -1.37 19,052 -8.68 0.8591
2025-02-14 2024-12-31 13F ZILLOW GROUP CL C CAP STK 98954M200 281,757 -62,560 -18.17 20,864 -5.09 0.8880
2024-11-14 2024-09-30 13F ZILLOW GROUP CL C CAP STK 98954M200 344,317 106,153 44.57 21,985 98.99 0.8571
2024-08-14 2024-06-30 13F ZILLOW GROUP CL C CAP STK 98954M200 238,164 238,164 11,048 0.4531
2024-02-14 2023-12-31 13F ZILLOW GROUP CL C CAP STK 98954M200 0 -219,723 -100.00 0 -100.00
2023-11-14 2023-09-30 13F ZILLOW GROUP CL C CAP STK 98954M200 219,723 -2,239 -1.01 10,142 -9.08 0.5462
2023-08-11 2023-06-30 13F ZILLOW GROUP CL C CAP STK 98954M200 221,962 9,675 4.56 11,156 18.17 0.5581
2023-05-12 2023-03-31 13F ZILLOW GROUP CL C CAP STK 98954M200 212,287 91,513 75.77 9,440 142.67 0.5001
2023-02-14 2022-12-31 13F ZILLOW GROUP CL C CAP STK 98954M200 120,774 120,774 3,890 0.3330
2022-05-16 2022-03-31 13F ZILLOW GROUP CL C CAP STK 98954M200 0 -93,245 -100.00 0 -100.00
2022-02-14 2021-12-31 13F ZILLOW GROUP CL C CAP STK 98954M200 93,245 42,797 84.83 5,954 33.92 0.5222
2021-11-12 2021-09-30 13F ZILLOW GROUP CL C CAP STK 98954M200 50,448 -4,866 -8.80 4,446 -34.23 0.4390
2021-07-22 2021-06-30 13F ZILLOW GROUP CMN 98954M200 55,314 55,314 6,760 0.6215
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.