SCHEDULE 13G: Caledonia Investment Entities Disclose Significant 17.04% Stake in Zillow Group Class C Stock

Caledonia (Private) Investments Pty Limited and Caledonia US, LP have jointly disclosed a beneficial ownership of 17.04% of Zillow Group, Inc.'s Class C Capital Stock, totaling 31,020,952 shares.

Summary

• Caledonia (Private) Investments Pty Limited (Australia) and Caledonia US, LP (Delaware) have filed a Schedule 13G, indicating their beneficial ownership in Zillow Group, Inc.
• The filing pertains to Zillow Group, Inc.'s Class C Capital Stock, par value $0.0001 per share, with CUSIP Number 98954M200.
• As of April 30, 2025, the reporting persons collectively beneficially own 31,020,952 shares of Zillow Group Class C Capital Stock.
• This aggregate amount represents 17.04% of the Class C Capital Stock.
• Both reporting persons share voting power and dispositive power over all 31,020,952 shares, with no sole voting or dispositive power.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Zillow Group, Inc.

Sentiment

Score: 6

Explanation: The document is a factual disclosure of a significant ownership stake by an institutional investor. While not directly commenting on Zillow's performance, a large, passive investment by a reputable firm like Caledonia can be interpreted by the market as a positive signal of confidence in the company's value and future prospects.

Management Comments

• Matthew Moses, General Counsel for both Caledonia (Private) Investments Pty Limited and Caledonia US, LP, certified that the securities were acquired and are held in the ordinary course of business and not for the purpose of or with the effect of changing or influencing the control of the issuer, nor in connection with any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.

Industry Context

This Schedule 13G filing indicates a significant passive investment by Caledonia, a prominent investment firm, in Zillow Group, a leading online real estate marketplace. Such disclosures are standard for institutional investors acquiring more than 5% of a company's stock, signaling their confidence in the company's long-term prospects without intending to exert control.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake by Caledonia may be viewed positively, potentially signaling investor confidence and stability in the shareholder base.

Key Dates

Keywords

Zillow Group, Class C Capital Stock, Caledonia (Private) Investments, Caledonia US, Schedule 13G, Beneficial Ownership, Institutional Investor, Real Estate Technology, Investment Management