Caledonia reports 11.37M shares (26.8%) in Zillow

Zillow Group, Inc. has a Schedule 13G/A amendment reporting that Caledonia (Private) Investments Pty Limited and Caledonia US, LP together beneficially own 11,370,543 shares of Class A Common Stock, representing 26.80% of the class as reported.

Rhea-AI Filing Summary

Zillow Group, Inc. has a Schedule 13G/A amendment reporting that Caledonia (Private) Investments Pty Limited and Caledonia US, LP together beneficially own 11,370,543 shares of Class A Common Stock, representing 26.80% of the class as reported.

The filing states the position is held with shared voting and shared dispositive power, and it is signed by Matthew Moses, General Counsel, dated 05/15/2026.

Insights

Corporate Governance Analyst

Large passive stake disclosed with shared voting power.

The filing shows Caledonia entities beneficially own 11,370,543 shares of Class A Common Stock, or 26.80%, with shared voting and dispositive power as of the amendment. The ownership percentage and shared control are stated explicitly in the amendment.

Key dependencies include any changes in voting arrangements or further amendments; subsequent filings would disclose shifts. Future disclosures may state changes in ownership or voting power.

Key Figures

Shares beneficially owned: 11,370,543 shares Percent of class: 26.80% Filing signature date: 05/15/2026

3 metrics

Shares beneficially owned 11,370,543 shares Class A Common Stock

Percent of class 26.80% Class A Common Stock

Filing signature date 05/15/2026 Schedule 13G/A amendment signature

Key Terms

Schedule 13G/A, Shared dispositive power, Joint Filing Statement

3 terms

Schedule 13G/A regulatory

"Amendment No. 9 to a 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.

Shared dispositive power financial

"Shared Dispositive Power 11,370,543.00 indicates joint control over disposition"

Joint Filing Statement regulatory

"Exhibit I JOINT FILING STATEMENT PURSUANT TO RULE 13d-1(k)"

FAQ

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

What stake does Caledonia report in Zillow Group (Z)?

Caledonia reports beneficial ownership of 11,370,543 shares of Class A Common Stock, equal to 26.80% of the class. The amount and percentage are stated in the Schedule 13G/A amendment signed on 05/15/2026.

Does Caledonia have sole voting control over the shares?

No. The amendment reports 0 shares with sole voting power and 11,370,543 shares with shared voting power. The filing explicitly lists shared voting and shared dispositive power for the reported shares.

Who signed the Schedule 13G/A amendment for Caledonia?

The amendment is signed by Matthew Moses, General Counsel. The signature block shows Matthew Moses signed on behalf of Caledonia (Private) Investments Pty Limited and Caledonia US, LP, dated 05/15/2026.

What filing type is this and why was it filed?

This is a Schedule 13G/A amendment, used to report beneficial ownership of an equity stake. The amendment updates previously reported information about the Caledonia entities' holdings and voting/dispositive powers in Zillow Group's Class A shares.

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

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Accepted by SEC EDGAR 05/15/2026 - 11:39 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 9)

Zillow Group, Inc.

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

98954M101

(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): 98954M101

1

Names of Reporting Persons

Caledonia (Private) Investments Pty Limited

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

AUSTRALIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 11,370,543.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 11,370,543.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

11,370,543.00

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)

26.80 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): 98954M101

1

Names of Reporting Persons

Caledonia US, LP

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 11,370,543.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 11,370,543.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

11,370,543.00

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)

26.80 %

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: Caledonia (Private) Investments Pty Limited Caledonia US, LP
(b)	Address or principal business office or, if none, residence: Caledonia (Private) Investments Pty Limited: Level 10, 131 Macquarie Street Sydney, NSW, 2000, Australia Caledonia US, LP 27th Floor, 1133 Avenue of the Americas New York, NY,10036
(c)	Citizenship: Caledonia (Private) Investments Pty Limited - Australia Caledonia US, LP - Delaware
(d)	Title of class of securities: Class A Common Stock
(e)	CUSIP No.: 98954M101
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: 11,370,543
(b)	Percent of class: 26.80 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 11,370,543
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 11,370,543
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.

Caledonia (Private) Investments Pty Limited

Signature:	/s/ Matthew Moses
Name/Title:	Matthew Moses, General Counsel
Date:	05/15/2026

Caledonia US, LP

Signature:	/s/ Matthew Moses
Name/Title:	Matthew Moses, General Counsel
Date:	05/15/2026

Exhibit Information

Exhibit I JOINT FILING STATEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on SCHEDULE 13G/A, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on SCHEDULE 13G/A, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate. Dated: May 15, 2026 Caledonia (Private) Investments Pty Limited By: /s/ Matthew Moses Matthew Moses, General Counsel Caledonia US, LP By: /s/ Matthew Moses Matthew Moses, General Counsel