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.
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
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
+$24.4M |
| 2 |
Vanguard Group
Malvern,
Pennsylvania
|
+$2.78M |
| 3 |
Invesco
Atlanta,
Georgia
|
+$2.37M |
| 4 |
BlackRock
New York
|
+$2.17M |
| 5 |
Geode Capital Management
Boston,
Massachusetts
|
+$1.57M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
ACH
ArrowMark Colorado Holdings
Denver,
Colorado
|
-$4.39M |
| 2 |
NHAS
Novo Holdings A/S
Hellerup,
Denmark
|
-$4.07M |
| 3 |
Citadel Advisors
Miami,
Florida
|
-$2.85M |
| 4 |
EP
Eversept Partners
New York
|
-$2.71M |
| 5 |
CCM
Catalio Capital Management
New York
|
-$2.09M |
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.