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ZBIO

Zenas BioPharma
ZBIO

80 hedge funds and large institutions have $774M invested in Zenas BioPharma in 2025 Q3 according to their latest regulatory filings, with 14 funds opening new positions, 23 increasing their positions, 21 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

135% more capital invested

Capital invested by funds: $330M → $774M (+$445M)

100% more first-time investments, than exits

New positions opened: 14 | Existing positions closed: 7

25% more funds holding in top 10

Funds holding in top 10: 4 → 5 (+1)

10% more funds holding

Funds holding: 73 → 80 (+7)

1.3% more ownership

Funds ownership: 81.41% → 82.7% (+1.3%)

10% more repeat investments, than reductions

Existing positions increased: 23 | Existing positions reduced: 21

Holders
80
Holders Change
+7
Holders Change %
+9.59%
% of All Funds
1.05%
Holding in Top 10
5
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+25%
% of All Funds
0.07%
New
14
Increased
23
Reduced
21
Closed
7
Calls
$224K
Puts
–
Net Calls
+$224K
Net Calls Change
+$224K

Top Buyers

Rank Fund Capital Flow
1
Fidelity Investments
Fidelity Investments
Massachusetts
+$24.4M
2
Vanguard Group
Vanguard Group
Pennsylvania
+$2.78M
3
Invesco
Invesco
Georgia
+$2.37M
4
BlackRock
BlackRock
New York
+$2.17M
5
Geode Capital Management
Geode Capital Management
Massachusetts
+$1.57M

Top Sellers

Rank Fund Capital Flow
1
ACH
ArrowMark Colorado Holdings
Colorado
-$4.39M
2
NHAS
Novo Holdings A/S
Denmark
-$4.07M
3
Citadel Advisors
Citadel Advisors
Florida
-$2.85M
4
EP
Eversept Partners
New York
-$2.71M
5
CCM
Catalio Capital Management
New York
-$2.09M
Name Holding Trade Value Shares
Change 		Change in
Stake
Schroder Investment Management Group
26
Schroder Investment Management Group
United Kingdom
$2.32M -$689K -42,304 -27%
SCM
27
Superstring Capital Management
New York
$2.15M -$243K -14,940 -13%
Morgan Stanley
28
Morgan Stanley
New York
$1.97M -$579K -35,568 -29%
Millennium Management
29
Millennium Management
New York
$1.6M +$1.17M +71,850 New
Bank of New York Mellon
30
Bank of New York Mellon
New York
$925K +$53K +3,255 +8%
SC
31
Stempoint Capital
New York
$860K +$631K +38,742 New
UBS Group
32
UBS Group
Switzerland
$788K +$183K +11,229 +46%
AQR Capital Management
33
AQR Capital Management
Connecticut
$546K -$1.37K -84 -0.3%
Barclays
34
Barclays
United Kingdom
$508K -$80.4K -4,937 -18%
RhumbLine Advisers
35
RhumbLine Advisers
Massachusetts
$471K +$24.3K +1,493 +8%
N
36
Nuveen
North Carolina
$456K -$181K -11,107 -35%
Two Sigma Investments
37
Two Sigma Investments
New York
$452K +$12.5K +765 +4%
AA
38
ALPS Advisors
Colorado
$445K -$40.9K -2,511 -11%
AllianceBernstein
39
AllianceBernstein
Tennessee
$407K +$32.4K +1,990 +12%
BC
40
Birchview Capital
Vermont
$366K – – –
Bank of America
41
Bank of America
North Carolina
$329K +$13.3K +818 +6%
Wells Fargo
42
Wells Fargo
California
$277K +$33.1K +2,031 +19%
Deutsche Bank
43
Deutsche Bank
Germany
$271K +$194K +11,947 +4,267%
Royal Bank of Canada
44
Royal Bank of Canada
Ontario, Canada
$265K +$172K +10,547 +791%
Creative Planning
45
Creative Planning
Kansas
$264K +$193K +11,882 New
American Century Companies
46
American Century Companies
Missouri
$244K +$179K +10,981 New
MIM
47
MetLife Investment Management
New Jersey
$224K – – –
Mirae Asset Global ETFs Holdings
48
Mirae Asset Global ETFs Holdings
Hong Kong
$166K -$23.2K -1,425 -16%
JP Morgan Chase
49
JP Morgan Chase
New York
$145K -$18.4K -1,128 -15%
New York State Common Retirement Fund
50
New York State Common Retirement Fund
New York
$138K – – –
1
2
3 4

ZBIO Hedge Fund Activity: Q3 2025 in Review

80 of the 7,621 institutional investors tracked by Wall St. Rank reported a position in Zenas BioPharma (ZBIO) for Q3 2025, worth a combined $774M — up 135% from $330M a quarter earlier.

Buyers outnumbered sellers: 14 funds opened new ZBIO positions and 7 closed out — a net gain of 7 holders — while 23 added to existing stakes and 21 trimmed.

The largest buyer was Fidelity Investments, adding an estimated $24.4M. The largest seller was ArrowMark Colorado Holdings, cutting an estimated $4.39M.

  • 80 institutional investors held Zenas BioPharma (ZBIO) as of Q3 2025, up from 73 in Q2 2025.
  • Funds reported $774M of Zenas BioPharma stock for Q3 2025, up 135% quarter-over-quarter.
  • 14 funds opened new Zenas BioPharma positions in Q3 2025 and 7 closed out, a net change of +7 holders.
  • The largest Zenas BioPharma buyer in Q3 2025 was Fidelity Investments, an estimated $24.4M added.
  • The largest Zenas BioPharma seller in Q3 2025 was ArrowMark Colorado Holdings, an estimated $4.39M sold.

Based on aggregated 13F filings for Q3 2025.