46% buyers of institutions opening or closing positions this quarter
2 more exits than new buyers, ownership rose 8.70 percentage points vs the prior quarter, and 2 well-known fund managers in the top 25.
46% buyers of institutions opening or closing positions this quarter
58.8% institutional ownership
BML Capital Management, portfolio allocation
Institutional ownership vs Biotechnology peers
No Form 4 insider transactions on file
Latest positioning in KZR across 13F flow, ownership shift, marquee holders, and holder-count growth.
Ranked by reported Q1 2026 13F market value
Share of total reported institutional value in KZR held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | BML Capital Management, LLC | 721K | $5.3M | 0.0% | 9.757% | 3.43% |
| 2 | SUVRETTA CAPITAL MANAGEMENT, LLC | 717K | $5.3M | 0.0% | 9.702% | 0.14% |
| 3 | TANG CAPITAL MANAGEMENT LLC | 664K | $4.9M | 0.0% | 8.992% | 0.25% |
| 4 | VANGUARD CAPITAL MANAGEMENT LLC | 291K | $2.2M | β | 3.933% | 0.00% |
| 5 | Rangeley Capital, LLC | 243K | $1.8M | +182.9% | 3.290% | 1.75% |
| 6 | Affinity Asset Advisors, LLC | 229K | $1.7M | 0.0% | 3.101% | 0.09% |
| 7 | RENAISSANCE TECHNOLOGIES LLC | 188K | $1.4M | +43.5% | 2.550% | 0.00% |
| 8 | MILLENNIUM MANAGEMENT LLC | 142K | $1.1M | β | 1.923% | 0.00% |
| 9 | Peapod Lane Capital LLC | 127K | $925K | -0.0% | 1.715% | 0.76% |
| 10 | Ikarian Capital, LLC | 102K | $758K | 0.0% | 1.383% | 0.06% |
| 11 | BlackRock, Inc. | 100K | $742K | +1.4% | 1.355% | 0.00% |
| 12 | ADAR1 Capital Management, LLC | 82K | $608K | -30.2% | 1.109% | 0.04% |
| 13 | Aldebaran Capital, LLC | 80K | $596K | -0.4% | 1.087% | 0.46% |
| 14 | CITADEL ADVISORS LLC | 75K | $558K | β | 1.018% | 0.00% |
| 15 | GEODE CAPITAL MANAGEMENT, LLC | 61K | $453K | -10.5% | 0.826% | 0.00% |
| 16 | EQUITEC PROPRIETARY MARKETS, LLC | 58K | $427K | β | 0.778% | 0.23% |
| 17 | CREDIT INDUSTRIEL ET COMMERCIAL | 54K | $398K | β | 0.726% | 0.03% |
| 18 | TORNO CAPITAL, LLC | 48K | $360K | +142.4% | 0.656% | 0.05% |
| 19 | VANGUARD FIDUCIARY TRUST CO | 41K | $306K | β | 0.558% | 0.00% |
| 20 | DIMENSIONAL FUND ADVISORS LP | 30K | $225K | +14.3% | 0.411% | 0.00% |
| 21 | RBF Capital, LLC | 28K | $209K | 0.0% | 0.381% | 0.01% |
| 22 | STATE STREET CORP | 27K | $201K | 0.0% | 0.367% | 0.00% |
| 23 | Yakira Capital Management, Inc. | 24K | $178K | β | 0.325% | 0.05% |
| 24 | Vazirani Asset Management LLC | 22K | $163K | -54.6% | 0.298% | 0.38% |
| 25 | JANE STREET GROUP, LLC | 21K | $159K | β | 0.289% | 0.00% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). β% of Fundβ shows how much of that investorβs total 13F portfolio is invested in KZR β a direct measure of their conviction.
Filings activity in KZR during Q1 2026, grouped by how each filer changed its position.
Institutions that opened a new KZR position in Q1 2026
Institutions that fully closed their KZR position in Q1 2026
8 quarters of 13F filings Β· Ξ columns show change vs prior quarter
| Quarter | Inst. Holders | Ξ Holders | Ownership % | Ξ Ownership | Total 13F Value | Ξ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 41 | 4.7% | 58.75% | +8.70 pp | $32M | +17% |
| Q4 2025 | 43 | +16% | 50.05% | +20.69 pp | $27M | +70% |
| Q3 2025 | 37 | 9.8% | 29.36% | 7.56 pp | $16M | 20% |
| Q2 2025 | 41 | 2.4% | 36.92% | 1.09 pp | $20M | 2.9% |
| Q1 2025 | 42 | 4.5% | 38.01% | 13.84 pp | $20M | 27% |
| Q4 2024 | 44 | 28% | 51.85% | 4.30 pp | $28M | 7.7% |
| Q3 2024 | 61 | 24% | 56.15% | +15.12 pp | $30M | +37% |
| Q2 2024 | 80 | β | 41.03% | β | $22M | β |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Ξ columns compare to the immediately prior filed quarter.
No recent Form 4 insider transactions on file for KZR.
Quick answers to the most common questions about buying KZR stock.
Based on Q1 2026 13F filings, institutional ownership of Kezar Life Sciences, Inc. stands at 58.8%, held across 41 reporting institutions.
BML Capital Management, LLC is the largest reported institutional holder of KZR, with approximately 720,787 shares worth $0.01B as of Q1 2026.
Yes β 2 widely-followed marquee investors appear among the top 25 institutional holders of KZR, including RENAISSANCE TECHNOLOGIES LLC, CITADEL ADVISORS LLC.
Our composite Smart Money Score for KZR is 60 out of 100 (Bullish). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
12 institutions opened new positions in KZR during Q1 2026, while 14 fully exited. 24 added to existing positions and 5 trimmed.
KZR institutional ownership rose by 8.70 percentage points quarter-over-quarter, with a net change of -2 holders.
The top 10 institutions account for 80.2% of all reported 13F value in KZR, and the top 25 account for 97.9%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.