Hedge fund Glenview Capital increased its Zillow position by 30% in Q4 2025 as user traffic fell 3% year-over-year in Q1 2026.
Glenview Capital raised its Zillow Group Inc. (NASDAQ:Z) stake to 1.1 million shares in Q4 2025, a 30% increase from the prior quarter. The hedge fund first disclosed its position in Q3 2025 with nearly 890,000 shares.
Zillow reported a 3% year-over-year drop in average monthly unique users to 220 million in Q1 2026, while total visits declined to 2.3 billion. Legal expenses also pressured adjusted EBITDA margins by 160 basis points.
The company faces challenges retaining its core audience amid competition, though it continues expanding revenue from segments like Rentals and Mortgages.