Reported 5 months ago
One of Australia’s largest hedge funds, Caledonia, is sticking with its concentrated bet on Zillow Group Inc. despite a 26% slump in Zillow's shares this year. Caledonia, founded by the Darling family in 1992, manages about $11 billion and is known for its high conviction bets. The fund holds a roughly $2.2 billion stake in Zillow, which is among the world’s most concentrated US equity positions held by a hedge fund. Caledonia remains optimistic about Zillow's potential for future growth, with a target to triple its value by the end of next year.
Source: YAHOO