Why One Fund Opened a $9 Million Position in Ziff Davis Amid a Major Business Sale
Key Points
Monimus bought 241,918 ZD shares in the first quarter; the estimated trade size was $8.90 million based on quarterly average prices.
The quarter-end position value increased by $10.15 million, reflecting both purchase and price movement.
The transaction represented a 2.47% change in reported 13F assets under management.
On May 15, 2026, Monimus Capital Management disclosed a new position in Ziff Davis (NASDAQ:ZD), acquiring 241,918 shares in a trade estimated at $8.90 million based on quarterly average pricing.
What happened
According to an SEC filing dated May 15, 2026, Monimus Capital Management established a new position in Ziff Davis, buying 241,918 shares. The estimated value of the trade was $8.90 million, calculated using the mean unadjusted closing price within the first quarter. The quarter-end value of the stake was $10.15 million, a net change reflecting both the portfolio addition and price movement.
What else to know
- Top holdings after the filing:
- NASDAQ: TRIP: $26.72 million (7.4% of AUM)
- NASDAQ: BKNG: $18.92 million (5.2% of AUM)
- NASDAQ: AMZN: $15.02 million (4.2% of AUM)
- NYSE: RSKD: $14.47 million (4.0% of AUM)
- NYSE: MSGS: $13.43 million (3.7% of AUM)
- As of May 14, 2026, shares of Ziff Davis were priced at $40.62, up 21.4% over the past year and underperforming the S&P 500 by 5.87 percentage points.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $1.45 billion |
| Net Income (TTM) | $47.35 million |
| Price (as of market close 2026-05-14) | $40.62 |
| One-Year Price Change | 21.43% |
Company snapshot
- Ziff Davis provides digital media properties (such as IGN, PCMag, Mashable, RetailMeNot, and Everyday Health) and cloud-based subscription services in cybersecurity and marketing technology.
- The company generates revenue primarily through advertising, digital subscriptions, and SaaS-based cybersecurity and martech offerings across a diversified portfolio.
- It serves consumers, businesses, and advertisers globally, targeting technology, entertainment, health, and e-commerce verticals.
Ziff Davis, Inc. operates as a diversified digital media and internet services company with a global footprint. Its strategy leverages a broad portfolio of well-known web properties and SaaS solutions to capture revenue from both consumer and enterprise markets.
What this transaction means for investors
This purchase ultimately seems like a bet that Ziff Davis is worth more broken apart than bundled together. Management is actively exploring “value-creating transactions” and, in the first quarter, agreed to sell its Connectivity business, which could sharpen the company’s focus on higher-margin digital media, cybersecurity, and subscription businesses.
The latest quarter showed why that thesis is complicated but still interesting. Revenue slipped 1.9% year over year to $267.6 million, while operating income fell nearly 80% to $2.9 million. Still, some segments held up well. Gaming and Entertainment revenue climbed 7.2%, while Cybersecurity and Martech revenue rose 3.6%.
The company also remained aggressive on capital returns, spending roughly $51.6 million on share repurchases during the quarter. Ziff Davis ended March with about $520 million in continuing-operations cash and cash equivalents.
Going forward, the key question is whether Ziff Davis can unlock value through asset sales while stabilizing its slower-growth media properties. If management pulls that off, the current valuation could look far less demanding than the market assumes today.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon, Booking Holdings, and Tripadvisor. The Motley Fool has a disclosure policy.