Vault-13

ERMENEGILDO ZEGNA N V ZGN

ORD SHS · Common Stock · CUSIP N30577105

98 institutional holders +10 vs Q1 2025
39,686,74739.7m shares reported held*
$339.3mreported value*
37 new 26 added 23 reduced 27 sold out net bought ≈ $49.2m (+5.8m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($128.4k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $8.55. Options: 3 managers hold calls ($89.8k notional), 1 hold puts ($0).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

050100Q3 22: 52Q4 22: 53Q1 23: 58Q2 23: 65Q3 23: 58Q4 23: 60Q1 24: 71Q2 24: 60Q3 24: 68Q4 24: 79Q1 25: 88Q2 25: 9898Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202252
Q4 202253
Q1 202358
Q2 202365
Q3 202358
Q4 202360
Q1 202471
Q2 202460
Q3 202468
Q4 202479
Q1 202588
Q2 202598

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q3 23: 36 bought or addedQ3 23: 39 cut or sold outQ4 23: 36 bought or addedQ4 23: 28 cut or sold outQ4 23Q1 24: 39 bought or addedQ1 24: 36 cut or sold outQ2 24: 26 bought or addedQ2 24: 41 cut or sold outQ2 24Q3 24: 32 bought or addedQ3 24: 28 cut or sold outQ4 24: 45 bought or addedQ4 24: 37 cut or sold outQ4 24Q1 25: 61 bought or addedQ1 25: 23 cut or sold outQ2 25: 63 bought or addedQ2 25: 50 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20233639
Q4 20233628
Q1 20243936
Q2 20242641
Q3 20243228
Q4 20244537
Q1 20256123
Q2 20256350

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$200k$400k$600kQ3 24 calls: $413.3kQ3 24 puts: $13.8kQ3 24P/C 0.03Q4 24 calls: $119.8kQ4 24 puts: $10.7kQ4 24P/C 0.09Q1 25 calls: $147.3kQ1 25 puts: $29.9kQ1 25P/C 0.20Q2 25 calls: $89.8kQ2 25 puts: $0Q2 25P/C 0.00
Numbers
QuarterCallsPutsP/C
Q3 2024$413.3k$13.8k0.03
Q4 2024$119.8k$10.7k0.09
Q1 2025$147.3k$29.9k0.20
Q2 2025$89.8k$00.00

Biggest buyers

Temasek Holdings (Private) Ltd New +12,699,981+12.7m
BlackRock, Inc. Added +3,119,893+3.1m
GEODE CAPITAL MANAGEMENT, LLC New +730,437+730.4k
STATE STREET CORP New +527,054+527.1k
Point72 Asset Management, L.P. Added +450,964+451.0k
VANGUARD GROUP INC New +434,861+434.9k
NORTHERN TRUST CORP New +353,655+353.7k
Portolan Capital Management, LLC Added +226,784+226.8k
SEI INVESTMENTS CO Added +215,502+215.5k
Trexquant Investment LP New +166,131+166.1k

Biggest sellers

PUBLIC INVESTMENT FUND Sold out -5,834,324-5.8m
Invesco Ltd. Reduced -3,923,484-3.9m
Balyasny Asset Management L.P. Sold out -712,776-712.8k
Alpine Investment Management Ltd Reduced -525,716-525.7k
Cubist Systematic Strategies, LLC Sold out -419,379-419.4k
MARSHALL WACE, LLP Sold out -386,597-386.6k
FIL Ltd Reduced -286,706-286.7k
TWO SIGMA INVESTMENTS, LP Reduced -285,491-285.5k
ExodusPoint Capital Management, LP Sold out -251,449-251.4k
TUDOR INVESTMENT CORP ET AL Sold out -195,416-195.4k

Biggest calls

CITADEL ADVISORS LLC Reduced $89.8k10.5k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares
SIMPLEX TRADING, LLC Unchanged $0100 shares

Biggest puts

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
Monterubello S.S. 13G · exempt (held before listing) filed 2025-02-14 60.5% 152.7m≈ $2.0bn 2025-02-14
Temasek Holdings (Private) Ltd 13D · may seek influence new · filed 2025-08-04
Stated purposeOpen Market Purchases From April 16, 2025 through June 27, 2025, two indirect wholly owned subsidiaries of Temasek purchased, in a series of open market transactions, an aggregate 12,699,981 Ordinary Shares for aggregate consideration of approximately $107.7 million. Share Purchase Agreement On July 28, 2025, Venezio Investments entered into a share purchase and investor rights agreement (the "Share Purchase Agreement") with the Issuer, pursuant to which Venezio Investments agreed to purchase from the Issuer 14,121,062 Ordinary Shares (the "Share Purchase") for aggregate consideration of $126,383,504.90. The Share Purchase consummated on July 29, 2025 (the "Closing"). The Share Purchase Agreement contains the following provisions: Lock-up. Venezio Investments agreed to not transfer, o… Full filing
10.0% new 26.8m≈ $347.7m 2025-08-04
Strategic Holding Group S.a r.l. 13G · exempt (held before listing) -2.6 pts · filed 2026-08-12 8.4% -2.6 pts 22.6m≈ $292.5m 2026-08-12

Insider purchases and sales in Q2 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Temasek Holdings (Private) Ltd 0.42% of their portfolio SINGAPORE, U0 12,699,98112.7m $108.6m $108.6m 0.42% New
2 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 3,819,9523.8m $32.7m $32.7m 0.00% Added +67.1k +67,088
3 BlackRock, Inc. 0.00% of their portfolio New York, NY 3,126,7363.1m $26.7m $26.7m 0.00% Added +3.1m +3,119,893
4 Artisan Partners Limited Partnership 0.03% of their portfolio Milwaukee, WI 2,098,6492.1m $17.9m $17.9m 0.03% Reduced -96.0k -95,952
5 FIL Ltd 0.01% of their portfolio HAMILTON, D0 1,672,0591.7m $14.3m $14.3m 0.01% Reduced -286.7k -286,706
6 Portolan Capital Management, LLC 0.63% of their portfolio BOSTON, MA 1,183,9861.2m $10.1m $10.1m 0.63% Added +226.8k +226,784
7 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 1,050,1631.1m $9.0m $9.0m 0.01% Reduced -98.9k -98,892
8 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 982,355982.4k $8.4m $8.4m 0.00% Reduced -3.9m -3,923,484
9 Ceredex Value Advisors LLC 0.16% of their portfolio WINTER PARK, FL 866,000866.0k $7.4m $7.4m 0.16% Reduced -87.7k -87,700
10 Alpine Investment Management Ltd 3.48% of their portfolio HONG KONG, K3 850,000850.0k $7.3m $7.3m 3.48% Reduced -525.7k -525,716
11 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 730,437730.4k $6.2m $6.2m 0.00% New
12 OSBORNE PARTNERS CAPITAL MANAGEMENT, LLC 0.32% of their portfolio SAN FRANCISCO, CA 710,238710.2k $6.1m $6.1m 0.32% Added +36.7k +36,723
13 GAM Holding AG 0.43% of their portfolio Zurich, V8 707,337707.3k $6.0m $6.0m 0.43% Unchanged
14 Tabor Asset Management, LP 4.19% of their portfolio NEW YORK, NY 699,372699.4k $6.0m $6.0m 4.19% Reduced -1.1k -1,144
15 UBS Group AG 0.00% of their portfolio ZURICH, V8 652,142652.1k $5.6m $5.6m 0.00% Added +85.6k +85,622
16 Point72 Asset Management, L.P. 0.01% of their portfolio STAMFORD, CT 599,764599.8k $5.1m $5.1m 0.01% Added +451.0k +450,964
17 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 537,069537.1k $4.6m $4.6m 0.00% Added +138.6k +138,571
18 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 527,054527.1k $4.5m $4.5m 0.00% New
19 TWO SIGMA ADVISERS, LP 0.01% of their portfolio NEW YORK, NY 451,814451.8k $3.9m $3.9m 0.01% Reduced -164.4k -164,386
20 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 434,861434.9k $3.7m $3.7m 0.00% New
21 QVIDTVM Management LLC 3.69% of their portfolio THE WOODLANDS, TX 431,095431.1k $3.7m $3.7m 3.69% Added +11.0k +10,966
22 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 400,630400.6k $3.4m $3.4m 0.00% Added +215.5k +215,502
23 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 397,785397.8k $3.4m $3.4m 0.00% Reduced -97.7k -97,655
24 EDMOND DE ROTHSCHILD HOLDING S.A. 0.05% of their portfolio CHAMBESY, V8 360,000360.0k $3.1m $3.1m 0.05% Unchanged
25 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 353,655353.7k $3.0m $3.0m 0.00% New
26 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 341,348341.3k $2.9m $2.9m 0.01% Reduced -285.5k -285,491
27 FEDERATED HERMES, INC. 0.00% of their portfolio PITTSBURGH, PA 220,000220.0k $1.9m $1.9m 0.00% Added +80.0k +80,000
28 RENAISSANCE GROUP LLC 0.07% of their portfolio Covington, KY 200,620200.6k $1.7m $1.7m 0.07% Reduced -27.9k -27,869
29 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 168,460168.5k $1.4m $1.4m 0.00% Added +34.0k +33,957
30 Trexquant Investment LP 0.02% of their portfolio STAMFORD, CT 166,131166.1k $1.4m $1.4m 0.02% New
31 CastleKnight Management LP 0.09% of their portfolio New York, NY 158,700158.7k $1.4m $1.4m 0.09% Unchanged
32 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 154,585154.6k $1.3m $1.3m 0.00% New
33 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 137,338137.3k $1.2m $1.2m 0.00% Added +19.5k +19,500
34 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 136,326136.3k $1.2m $1.2m 0.00% Added +6.7k +6,698
35 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 121,130121.1k $1.0m $1.0m 0.00% New
36 PDT Partners, LLC 0.06% of their portfolio New York, NY 117,828117.8k $1.0m $1.0m 0.06% Reduced -34.5k -34,490
37 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 117,471117.5k $1.0m $1.0m 0.00% Added +108.7k +108,727
38 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 90,62190.6k $774.8k $774.8k 0.00% Reduced -111.8k -111,792
39 Verition Fund Management LLC 0.00% of their portfolio GREENWICH, CT 87,29787.3k $746.4k $746.4k 0.00% Reduced -58.8k -58,794
40 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 80,31580.3k $686.7k $686.7k 0.00% New
41 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 79,27279.3k $677.8k $677.8k 0.00% Reduced -66.7k -66,730
42 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 62,90062.9k $537.8k $537.8k 0.00% New
43 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 53,59953.6k $458.3k $458.3k 0.00% Added +6.4k +6,421
44 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 52,50052.5k $448.9k $448.9k 0.00% New
45 MOORE CAPITAL MANAGEMENT, LP 0.01% of their portfolio NEW YORK, NY 50,00050.0k $427.5k $427.5k 0.01% Unchanged
46 LOS ANGELES CAPITAL MANAGEMENT LLC 0.00% of their portfolio LOS ANGELES, CA 44,05544.1k $376.7k $376.7k 0.00% New
47 Dynamic Technology Lab Private Ltd 0.05% of their portfolio SINGAPORE, U0 41,59641.6k $356.0k $356.0k 0.05% New
48 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 38,99539.0k $333.4k $333.4k 0.00% New
49 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 37,94837.9k $324.5k $324.5k 0.00% New
50 Engineers Gate Manager LP 0.00% of their portfolio NEW YORK, NY 35,83635.8k $306.4k $306.4k 0.00% Reduced -72.9k -72,919
51 Bank Julius Baer & Co. Ltd, Zurich 0.00% of their portfolio ZURICH, V8 35,00035.0k $299.2k $299.2k 0.00% Unchanged
52 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio CAUSEWAY BAY, K3 33,84733.8k $289.4k $289.4k 0.00% New
53 INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio WEST PALM BEACH, FL 32,91432.9k $281.4k $281.4k 0.00% New
54 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 31,93431.9k $273.0k $273.0k 0.00% New
55 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 29,29829.3k $250.5k $250.5k 0.00% Added +29.2k +29,249
56 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 26,17526.2k $223.8k $223.8k 0.00% Reduced -179.6k -179,585
57 TOCQUEVILLE ASSET MANAGEMENT L.P. 0.00% of their portfolio New York, NY 25,85025.9k $221.0k $221.0k 0.00% Reduced -500 -500
58 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 23,60723.6k $201.8k $201.8k 0.00% Reduced -133.3k -133,320
59 Handelsbanken Fonder AB 0.00% of their portfolio STOCKHOLM, V7 23,20023.2k $198.0k $198.0k 0.00% Reduced -14.6k -14,600
60 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 22,81922.8k $195.0k $195.0k 0.00% Reduced -10.9k -10,896
61 Vident Advisory, LLC 0.00% of their portfolio Alpharetta, GA 22,55622.6k $192.9k $192.9k 0.00% Reduced -12.0k -12,014
62 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 22,49322.5k $192.3k $192.3k 0.00% Added +20.9k +20,939
63 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 22,08622.1k $188.8k $188.8k 0.00% New
64 Quadrature Capital Ltd 0.00% of their portfolio LONDON, X0 18,61518.6k $159.3k $159.3k 0.00% Added +5.6k +5,555
65 Next Capital Management LLC 0.06% of their portfolio NEW YORK, NY 18,27518.3k $156.3k $156.3k 0.06% Unchanged
66 VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio ATLANTA, GA 17,65417.7k $150.9k $150.9k 0.00% New
67 OCCUDO QUANTITATIVE STRATEGIES LP 0.02% of their portfolio FORT LAUDERDALE, FL 16,77516.8k $143.4k $143.4k 0.02% New
68 Savant Capital, LLC 0.00% of their portfolio ROCKFORD, IL 14,95715.0k $127.9k $127.9k 0.00% Added +4.0k +3,961
69 Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio TRENTON, NJ 13,47713.5k $115.2k $115.2k 0.00% New
70 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 12,76312.8k $109.1k $109.1k 0.00% New
71 ProShare Advisors LLC 0.00% of their portfolio BETHESDA, MD 12,67012.7k $108.3k $108.3k 0.00% New
72 Spectrum Strategic Capital Management, LLC 0.06% of their portfolio CORVALLIS, OR 11,12011.1k $95.1k $95.1k 0.06% Unchanged
73 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 10,84010.8k $92.7k $92.7k 0.00% Unchanged
74 Orion Porfolio Solutions, LLC 0.00% of their portfolio OMAHA, NE 10,26010.3k $87.7k $87.7k 0.00% New
75 State of Wyoming 0.01% of their portfolio CHEYENNE, WY 7,6837.7k $65.7k $65.7k 0.01% New
76 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 7,1467.1k $61.1k $61.1k 0.00% Added +3.0k +3,033
77 Legal & General Group Plc 0.00% of their portfolio London, X0 6,8536.9k $58.6k $58.6k 0.00% New
78 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 6,3386.3k $54.0k $54.0k 0.00% New
79 Ameritas Investment Partners, Inc. 0.00% of their portfolio LINCOLN, NE 6,3096.3k $53.9k $53.9k 0.00% New
80 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 3,8553.9k $33.0k $33.0k 0.00% New
81 SBI Securities Co., Ltd. 0.00% of their portfolio TOKYO, M0 3,7013.7k $31.6k $31.6k 0.00% Added +74 +74
82 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 2,8562.9k $24.0k $24.0k 0.00% Added +2.1k +2,057
83 AMALGAMATED BANK 0.00% of their portfolio NEW YORK, NY 2,1102.1k $18.0k $18.0k 0.00% New
84 Blue Trust, Inc. 0.00% of their portfolio BRENTWOOD, TN 1,5401.5k $13.2k $13.2k 0.00% New
85 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 1,2641.3k $10.8k $10.8k 0.00% Added +864 +864
86 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 932932 $8.0k $8.0k 0.00% Unchanged
87 Caitong International Asset Management Co., Ltd 0.01% of their portfolio HONG KONG, K3 932932 $8.0k $8.0k 0.01% Added +516 +516
88 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 914914 $7.8k $7.8k 0.00% New
89 Larson Financial Group LLC 0.00% of their portfolio ST LOUIS, MO 709709 $6.1k $6.1k 0.00% New
90 EverSource Wealth Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 493493 $4.2k $4.2k 0.00% Reduced -469 -469
91 Bare Financial Services, Inc 0.00% of their portfolio GAP, PA 437437 $3.7k $3.7k 0.00% Added +360 +360
92 Sterling Capital Management LLC 0.00% of their portfolio CHARLOTTE, NC 149149 $1.3k $1.3k 0.00% New
93 WealthCollab, LLC 0.00% of their portfolio BELLEVUE, WA 138138 $1.2k $1.2k 0.00% New
94 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 110110 $940 $940 0.00% Added +16 +16
95 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 6161 $522 $522 0.00% Unchanged
96 FMR LLC 0.00% of their portfolio BOSTON, MA 4343 $368 $368 0.00% New
97 DUPONT CAPITAL MANAGEMENT CORP 0.00% of their portfolio Wilmington, DE 11 $9 $9 0.00% Unchanged
98 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged