Independent Franchise Partners reports 7.03% stake

Zillow Group, Inc. amendment to Schedule 13G/A discloses that Independent Franchise Partners, LLP beneficially owns 13,197,429 shares of Class C capital stock, representing 7.03% of the class as of 03/31/2026.

Rhea-AI Filing Summary

Zillow Group, Inc. amendment to Schedule 13G/A discloses that Independent Franchise Partners, LLP beneficially owns 13,197,429 shares of Class C capital stock, representing 7.03% of the class as of 03/31/2026. The filing shows sole voting power over 12,554,320 shares and sole dispositive power over 13,197,429 shares.

Key Figures

Beneficial ownership: 13,197,429 shares Percent of class: 7.03% Sole voting power: 12,554,320 shares +2 more

5 metrics

Beneficial ownership 13,197,429 shares Class C Capital Stock as of <date>03/31/2026</date>

Percent of class 7.03% Class C Capital Stock

Sole voting power 12,554,320 shares reported voting power in Schedule 13G/A

Shared voting power 394,799 shares reported voting power in Schedule 13G/A

CUSIP 98954M200 Class C Capital Stock identifier

Key Terms

Schedule 13G/A, Class C Capital Stock, Sole dispositive power

3 terms

Schedule 13G/A regulatory

"Amendment No. 5 to Schedule 13G/A reporting beneficial ownership"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Class C Capital Stock financial

"Title of class of securities: Class C Capital Stock, par value $0.0001 per share"

Sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 13,197,429"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does Independent Franchise Partners report in Zillow (Z)?

Independent Franchise Partners reports beneficial ownership of 13,197,429 shares, equal to 7.03% of Zillow Class C capital stock as disclosed in Amendment No. 5 to Schedule 13G/A dated 03/31/2026.

How much voting power does Independent Franchise Partners hold in Zillow (Z)?

Sole voting power is 12,554,320 shares and shared voting power is 394,799 shares, per the Schedule 13G/A amendment filed and signed on 05/14/2026.

Who filed the Schedule 13G/A amendment for Zillow (Z)?

The filing was made by Independent Franchise Partners, LLP, a United Kingdom entity with an address at Level 1, 10 Portman Square, London W1H 6AZ, as shown in the amendment signing block.

What class of Zillow shares is reported in the filing for Z?

The reported securities are Class C Capital Stock with par value $0.0001 per share and CUSIP 98954M200, as stated in the Schedule 13G/A amendment cover information.

When was the Schedule 13G/A amendment signed for Zillow (Z)?

The signature block shows the form was signed on 05/14/2026 by Sandeep Ghela, Chief Operating Officer, attesting to the ownership details reported through 03/31/2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/14/2026 - 08:45 AM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

ZILLOW GROUP, INC.

(Name of Issuer)

Class C Capital Stock, par value $0.0001 per share

(Title of Class of Securities)

98954M200

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 98954M200

1

Names of Reporting Persons

Independent Franchise Partners, LLP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 12,554,320.00
6	Shared Voting Power 394,799.00
7	Sole Dispositive Power 13,197,429.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

13,197,429.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.03 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ZILLOW GROUP, INC.
(b)	Address of issuer's principal executive offices: 1301 SECOND AVENUE, FLOOR 36, SEATTLE, WA, 98101
Item 2.
(a)	Name of person filing: Independent Franchise Partners, LLP
(b)	Address or principal business office or, if none, residence: Level 1, 10 Portman Square, London W1H 6AZ, United Kingdom
(c)	Citizenship: United Kingdom
(d)	Title of class of securities: Class C Capital Stock, par value $0.0001 per share
(e)	CUSIP No.: 98954M200
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 13,197,429
(b)	Percent of class: 7.03%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 12,554,320
	(ii) Shared power to vote or to direct the vote: 394,799
	(iii) Sole power to dispose or to direct the disposition of: 13,197,429
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Independent Franchise Partners, LLP

Signature:	Sandeep Ghela
Name/Title:	Sandeep Ghela | Chief Operating Officer
Date:	05/14/2026