Vanguard Portfolio Management (NASDAQ: ZM) holds 13.44M shares, 5.05% stake

Rhea-AI Filing Summary

Vanguard Portfolio Management reports beneficial ownership of 13,442,768 shares of Zoom Communications Inc Common Stock, representing 5.05% of the class as of 03/31/2026. The filing shows sole dispositive power over all 13,442,768 shares and sole voting power for 40,725 shares. The Schedule 13G is signed by Ashley Grim on 04/29/2026 and describes holdings held on behalf of Vanguard funds and other managed accounts.

Insights

Institutional Ownership Analyst

Vanguard holds a passive, >5% stake in Zoom as a manager of funds and accounts.

The Schedule 13G reports 13,442,768 shares (5.05%) beneficially owned as of 03/31/2026, with dispositive power exercised by Vanguard Portfolio Management LLC. The filing follows passive-investor reporting conventions rather than activist disclosure.

Cash-flow treatment and trading intent are not stated; subsequent filings would show changes in position or voting arrangements.

Corporate Governance Specialist

Voting influence is limited relative to dispositive control; Vanguard reports modest sole voting power.

The filing lists sole voting power for 40,725 shares while retaining sole dispositive power for the full 13,442,768-share position. This split commonly reflects pooled fund structures where voting and disposition can differ across sub-accounts.

Any coordinated governance actions would require further disclosure in other filings.

Key Figures

Shares beneficially owned: 13,442,768 shares Percent of class: 5.05% Sole voting power: 40,725 shares +2 more

5 metrics

Shares beneficially owned 13,442,768 shares as of 03/31/2026

Percent of class 5.05% percentage of common stock

Sole voting power 40,725 shares voting power reported in Item 4

Sole dispositive power 13,442,768 shares dispositive power reported in Item 4

Schedule date 04/29/2026 signature date on filing

Key Terms

Schedule 13G, Beneficial ownership, Sole dispositive power

3 terms

Schedule 13G regulatory

"reports beneficial ownership of 13,442,768 shares of Zoom Communications Inc"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

Beneficial ownership financial

"Amount beneficially owned: 13442768 (b) Percent of class: 5.05 %"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 13442768"

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.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Zoom Communications Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

98980L101

(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): 98980L101

1

Names of Reporting Persons

Vanguard Portfolio Management

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

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 40,725.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 13,442,768.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

13,442,768.00

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)

5.05 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by Vanguard Portfolio Management LLC and the following affiliates of Vanguard Portfolio Management LLC or business divisions of such affiliates: Vanguard Fiduciary Trust Company and Vanguard Global Advisers, LLC. This Schedule 13G includes securities held by Vanguard funds, or sleeves thereof, over which Vanguard Portfolio Management LLC exercises dispositive power, in addition to securities held by clients over which the affiliates or business divisions of such affiliates indicated above exercise dispositive and/or voting power. This Schedule 13G does not include securities, if any, beneficially owned by other subsidiaries or affiliates of Vanguard Portfolio Management LLC, or business divisions of such subsidiaries whose ownership of securities is disaggregated from that of the reporting business unit in accordance with such release.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Zoom Communications Inc
(b)	Address of issuer's principal executive offices: 55 Almaden Blvd, 6th Floor, San Jose, CA, 95113
Item 2.
(a)	Name of person filing: Vanguard Portfolio Management
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd,, Malvern, PA, 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP Number(s): 98980L101
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: 13442768
(b)	Percent of class: 5.05 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 40725
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 13442768
	(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.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Vanguard Portfolio Management, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein.No one other person's interest in the securities reported herein is more than 5%.
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.

Vanguard Portfolio Management

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	04/29/2026

FAQ

How many Zoom (ZM) shares does Vanguard Portfolio Management report owning?

Vanguard reports beneficial ownership of 13,442,768 shares. The Schedule 13G states this equals 5.05% of Zoom's common stock as of 03/31/2026, with dispositive power exercised by Vanguard Portfolio Management LLC.

What voting and dispositive powers does Vanguard report for ZM shares?

Vanguard reports sole dispositive power over 13,442,768 shares and sole voting power for 40,725 shares. The filing reflects differing vote versus disposition authority across managed accounts and funds.

When was the Schedule 13G for Vanguard and Zoom signed and dated?

The Schedule 13G is signed by Ashley Grim with a signature date of 04/29/2026. The ownership position reported is tied to an as-of date of 03/31/2026 in the filing.

Does the filing indicate Vanguard is an activist owner of ZM?

No—this Schedule 13G reports passive beneficial ownership rather than an activist stance. It lists holdings for Vanguard funds and managed accounts, without statements of an intent to influence control or solicit proxies.

Who is identified as having the power to direct dividend or sale proceeds for the ZM shares?

Vanguard Portfolio Management, including its affiliated funds and managed accounts, is stated to have the right to receive or direct dividends or sale proceeds for the reported securities, per the filing's declaration.