US trader Jane Street Group has revealed a significant holding in Israeli container line Zim.

A filing to the US Securities and Exchange Commission shows the New York-based company with a 5.03% stake worth nearly $163m in the US-listed boxship owner.

It is not clear when Jane Street first invested, or if the shares are being held on behalf of other interests.

The US company has been contacted for further information.

Zim’s stock closed up 1.36% in New York on Thursday at $25.35.

So far this year, the shares have risen 126%.

But at the beginning of October, the shares plunged 14% as investors reacted to the news of a settlement to the US port strike.

Zim is one of the more volatile shipping shares trading on the New York Stock Exchange.

It has previously seen large moves based on other geopolitical events, such as the Houthi attacks on shipping in the Red Sea.

The market capitalisation is currently $3.05bn.

Behind Idan Ofer

According to Market Screener, Jane Street’s slice puts it behind only billionaire shipowner Idan Ofer’s Kenon Holding.

Kenon’s stake is now said to be 16.49%.

At the beginning of 2023, Kenon reduced its holding by about one-fifth.

The company sold about 6m shares, bringing in about $117m.

It held 20.8% of Zim after this deal, down from 25.8%.

Jane Street is run by managing director Frank Liu.

It was founded by Tim Reynolds and trades a broad range of asset classes on more than 200 venues in 45 countries.