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ZBIO

Zenas BioPharma
ZBIO

67 hedge funds and large institutions have $257M invested in Zenas BioPharma in 2025 Q1 according to their latest regulatory filings, with 12 funds opening new positions, 15 increasing their positions, 20 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

20% more first-time investments, than exits

New positions opened: 12 | Existing positions closed: 10

3% more funds holding

Funds holding: 65 → 67 (+2)

1.89% more ownership

Funds ownership: 75.85% → 77.75% (+1.9%)

0% more funds holding in top 10

Funds holding in top 10: 4 → 4 (0)

1% less capital invested

Capital invested by funds: $260M → $257M (-$2.92M)

25% less repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 20

Holders
67
Holders Change
+2
Holders Change %
+3.08%
% of All Funds
0.9%
Holding in Top 10
4
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.05%
New
12
Increased
15
Reduced
20
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Fidelity Investments
Fidelity Investments
Massachusetts
+$8.38M
2
NHAS
Novo Holdings A/S
Denmark
+$4.81M
3
ACH
ArrowMark Colorado Holdings
Colorado
+$3.68M
4
EP
Eversept Partners
New York
+$2.14M
5
CCM
Catalio Capital Management
New York
+$845K

Top Sellers

Rank Fund Capital Flow
1
PA
Perceptive Advisors
New York
-$6.09M
2
Morgan Stanley
Morgan Stanley
New York
-$2.19M
3
Wellington Management Group
Wellington Management Group
Massachusetts
-$2.05M
4
Millennium Management
Millennium Management
New York
-$1.1M
5
UBS Group
UBS Group
Switzerland
-$868K
Name Holding Trade Value Shares
Change 		Change in
Stake
New York State Common Retirement Fund
51
New York State Common Retirement Fund
New York
$49K +$48.5K +6,200 New
PFSRSONJ
52
Police & Firemen's Retirement System of New Jersey
New Jersey
$35.5K – – –
SO
53
STRS Ohio
Ohio
$22.1K – – –
AIP
54
Ameritas Investment Partners
Nebraska
$12.7K – – –
Legal & General Group
55
Legal & General Group
United Kingdom
$12K – – –
TRCT
56
Tower Research Capital (TRC)
New York
$11.1K +$2.3K +294 +26%
California State Teachers Retirement System (CalSTRS)
57
California State Teachers Retirement System (CalSTRS)
California
$9.04K – – –
Royal Bank of Canada
58
Royal Bank of Canada
Ontario, Canada
$4K -$5.37K -686 -60%
AB
59
Amalgamated Bank
New York
$4K – – –
Carson Wealth (CWM LLC)
60
Carson Wealth (CWM LLC)
Nebraska
$4K +$3.73K +476 New
US Bancorp
61
US Bancorp
Minnesota
$2.16K +$2.14K +273 New
SCM
62
Sterling Capital Management
North Carolina
$1.03K -$743 -95 -42%
S
63
SignatureFD
Georgia
$1.01K +$1K +128 New
GI
64
GAMMA Investing
California
$324 +$321 +41 New
Nisa Investment Advisors
65
Nisa Investment Advisors
Missouri
$221 +$219 +28 New
TWD
66
True Wealth Design
Ohio
$24 +$23 +3 New
EWA
67
EverSource Wealth Advisors
Alabama
$16 +$16 +2 New
PA
68
Perceptive Advisors
New York
– -$6.09M -744,035 Closed
Millennium Management
69
Millennium Management
New York
– -$1.1M -134,896 Closed
Citadel Advisors
70
Citadel Advisors
Florida
– -$677K -82,624 Closed
Norges Bank
71
Norges Bank
Norway
– -$542K -66,202 Closed
M&T Bank
72
M&T Bank
New York
– -$512K -62,622 Closed
Renaissance Technologies
73
Renaissance Technologies
New York
– -$314K -38,400 Closed
Two Sigma Investments
74
Two Sigma Investments
New York
– -$140K -17,045 Closed
RS
75
R Squared
Hong Kong
– -$1.72K -210 Closed
1 2
3
4

ZBIO Hedge Fund Activity: Q1 2025 in Review

67 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in Zenas BioPharma (ZBIO) for Q1 2025, worth a combined $257M — down 1.1% from $260M a quarter earlier.

Buyers outnumbered sellers: 12 funds opened new ZBIO positions and 10 closed out — a net gain of 2 holders — while 15 added to existing stakes and 20 trimmed.

The largest buyer was Fidelity Investments, adding an estimated $8.38M. The largest seller was Perceptive Advisors, exiting entirely with an estimated $6.09M sold.

  • 67 institutional investors held Zenas BioPharma (ZBIO) as of Q1 2025, up from 65 in Q4 2024.
  • Funds reported $257M of Zenas BioPharma stock for Q1 2025, down 1.1% quarter-over-quarter.
  • 12 funds opened new Zenas BioPharma positions in Q1 2025 and 10 closed out, a net change of +2 holders.
  • The largest Zenas BioPharma buyer in Q1 2025 was Fidelity Investments, an estimated $8.38M added.
  • The largest Zenas BioPharma seller in Q1 2025 was Perceptive Advisors, an estimated $6.09M sold.

Based on aggregated 13F filings for Q1 2025.