61% buyers of institutions opening or closing positions this quarter
19 more new buyers than exits, ownership fell 48.68 percentage points vs the prior quarter, and no widely-followed fund managers in the top 25.
61% buyers of institutions opening or closing positions this quarter
130.1% institutional ownership
Enavate Sciences GP, portfolio allocation
Institutional ownership vs Biotechnology peers
1 Form 4 filings — executives buying or selling their own stock
Latest positioning in ZBIO 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 ZBIO held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | FMR LLC | 9.1M | $177.6M | +17.9% | 20.344% | 0.01% |
| 2 | SR ONE CAPITAL MANAGEMENT, LP | 5.0M | $98.5M | 0.0% | 11.285% | 10.76% |
| 3 | NEA Management Company, LLC | 4.0M | $78.7M | +14.2% | 9.012% | 4.47% |
| 4 | Enavate Sciences GP, LLC | 3.9M | $76.6M | 0.0% | 8.779% | 21.80% |
| 5 | FEDERATED HERMES, INC. | 3.1M | $61.1M | +15.2% | 7.004% | 0.10% |
| 6 | Polar Capital Holdings Plc | 2.5M | $49.8M | +141.0% | 5.708% | 0.18% |
| 7 | Capital International Investors | 2.4M | $47.6M | — | 5.452% | 0.01% |
| 8 | Fairmount Funds Management LLC | 2.4M | $46.1M | +6.8% | 5.284% | 3.33% |
| 9 | BlackRock, Inc. | 2.0M | $39.8M | +15.3% | 4.564% | 0.00% |
| 10 | NVP Associates, LLC | 1.8M | $35.9M | 0.0% | 4.118% | 20.40% |
| 11 | ALLIANCEBERNSTEIN L.P. | 897K | $32.6M | +4790.0% | 2.010% | 0.01% |
| 12 | STATE STREET CORP | 1.5M | $28.8M | +235.6% | 3.295% | 0.00% |
| 13 | WELLINGTON MANAGEMENT GROUP LLP | 1.2M | $24.4M | +45.7% | 2.791% | 0.00% |
| 14 | VANGUARD CAPITAL MANAGEMENT LLC | 1.2M | $24.3M | — | 2.790% | 0.00% |
| 15 | SILVERARC CAPITAL MANAGEMENT, LLC | 1.1M | $22.2M | — | 2.544% | 2.27% |
| 16 | EcoR1 Capital, LLC | 790K | $15.4M | 0.0% | 1.768% | 0.66% |
| 17 | BALYASNY ASSET MANAGEMENT LLC | 667K | $13.0M | +245.4% | 1.494% | 0.02% |
| 18 | ArrowMark Colorado Holdings LLC | 659K | $12.9M | -12.3% | 1.476% | 0.34% |
| 19 | GEODE CAPITAL MANAGEMENT, LLC | 656K | $12.8M | +11.5% | 1.469% | 0.00% |
| 20 | Pivotal bioVenture Partners Investment Advisor LLC | 592K | $11.6M | 0.0% | 1.326% | 4.14% |
| 21 | Woodline Partners LP | 591K | $11.5M | — | 1.323% | 0.04% |
| 22 | GREAT POINT PARTNERS LLC | 524K | $10.2M | — | 1.174% | 2.35% |
| 23 | Rock Springs Capital Management LP | 502K | $9.8M | 0.0% | 1.125% | 0.58% |
| 24 | MARSHALL WACE, LLP | 502K | $9.8M | +6969.4% | 1.124% | 0.01% |
| 25 | MILLENNIUM MANAGEMENT LLC | 477K | $9.3M | +869.9% | 1.068% | 0.00% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in ZBIO — a direct measure of their conviction.
Filings activity in ZBIO during Q1 2026, grouped by how each filer changed its position.
Institutions that opened a new ZBIO position in Q1 2026
Institutions that fully closed their ZBIO position in Q1 2026
8 quarters of 13F filings · Δ columns show change vs prior quarter
| Quarter | Inst. Holders | Δ Holders | Ownership % | Δ Ownership | Total 13F Value | Δ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 136 | +16% | 130.12% | 48.68 pp | $1.09B | 27% |
| Q4 2025 | 117 | +50% | 178.80% | +87.49 pp | $1.50B | +96% |
| Q3 2025 | 78 | +6.8% | 91.31% | +52.45 pp | $763M | +135% |
| Q2 2025 | 73 | +9.0% | 38.86% | +8.72 pp | $325M | +29% |
| Q1 2025 | 67 | +3.1% | 30.14% | 0.32 pp | $252M | 1.0% |
| Q4 2024 | 65 | +48% | 30.46% | 18.34 pp | $255M | 38% |
| Q3 2024 | 44 | +2100% | 48.80% | +48.80 pp | $408M | +4533605% |
| Q1 2020 | 2 | — | 0.00% | — | $0M | — |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.
Latest Form 4 transactions by company officers and directors. Insider buys are widely viewed as the highest-conviction signal because executives are risking personal capital.
| Date | Insider | Action | Shares | Price | Value |
|---|---|---|---|---|---|
| Apr 28, 2026 | MOULDER LEON O JR | Buy | 25K | $18.02 | $451K |
Quick answers to the most common questions about buying ZBIO stock.
Based on Q1 2026 13F filings, institutional ownership of Zenas BioPharma, Inc. stands at 130.1%, held across 136 reporting institutions.
FMR LLC is the largest reported institutional holder of ZBIO, with approximately 9,082,000 shares worth $0.18B as of Q1 2026.
No marquee "smart money" managers (Berkshire, Burry, ARK, Tiger Global, Pershing Square, Baupost, etc.) currently appear among the top 25 institutional holders of ZBIO.
Our composite Smart Money Score for ZBIO is 28 out of 100 (Bearish). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
51 institutions opened new positions in ZBIO during Q1 2026, while 32 fully exited. 24 added to existing positions and 61 trimmed.
ZBIO institutional ownership fell by 48.68 percentage points quarter-over-quarter, with a net change of — holders.
The top 10 institutions account for 65.4% of all reported 13F value in ZBIO, and the top 25 account for 88.3%.
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.