Zenas Biopharma Inc (ZBIO) Hedge Fund Ownership (Q1 2026)

Zenas Biopharma Inc (ZBIO)

135 + Investors. Track Smart Money conviction in ZBIO. See who's accumulating, reducing, or initiating positions.

Smart Money Signals — ZBIO

Based on 136 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 7 quarters in a row

last 6Q

For 7 consecutive quarters, more hedge funds added ZBIO than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

🏔️

At the ownership peak (100% of max)

100% of all-time peak

136 hedge funds hold ZBIO right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.

🚀

Fast accumulation — +106% more funds vs a year ago

fund count last 6Q

+70 new funds entered over the past year (+106% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.

🟢

More buyers than sellers — 66% buying

106 buying55 selling

Last quarter: 106 funds were net buyers (49 opened a brand new position + 57 added to an existing one). Only 55 were sellers (17 trimmed + 38 sold completely). A clear majority buying is a strong confirmation signal.

➡️

Steady new buyers — ~49 new funds per quarter

new funds entering per quarter

Funds opening this position for the first time: 11 → 13 → 54 → 49. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.

🔄

Mostly new holders — 57% entered in last year

■ 4% conviction (2yr+) ■ 38% medium ■ 57% new

Only 6 funds (4%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.

💎

Buying through price weakness — shares +33%, value -28%

Value

-27%

+32%

Last quarter: funds added +33% more shares while total portfolio value only changed -28%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.

🚀

Acceleration phase — new buyers rushing in

13 → 11 → 13 → 54 → 49 new funds/Q

New funds entering each quarter: 11 → 13 → 54 → 49. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.

🌱

Early stage — 62% of holders entered in last year

■ 4% veterans ■ 33% 1-2yr ■ 62% new

Of 141 current holders: 88 (62%) entered in the past year, only 6 (4%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.

✅

Strong quality — 39% AUM from major funds

39% from top-100 AUM funds

34 of 135 holders rank in the top 100 by AUM, accounting for 39% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

6.1

out of 10

Moderate Exit Risk

Exit risk score 6.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Metric	All 13F Filers (2026 Q1)	Prior (2025 Q4)	Change
Funds Holding	135	124	8.87%
13F Shares	56M	42M	32.51%
Total Value	$1.09B	$1.51B	-27.57%
New Positions	48	54	-6
Increased Positions	57	37	+20
Closed Positions	37	7	+30
Reduced Positions	16	23	-7
Total Calls	3	9	-66.67%
Total Puts	3	8	-62.5%
PUT/CALL Ratio	1.0	0.89	Neutral

Metric

All 13F Filers (2026 Q1)

Prior (2025 Q4)

Change

Funds Holding

135

124

8.87%

13F Shares

56M

42M

32.51%

Total Value

$1.09B

$1.51B

-27.57%

New Positions

-6

Increased Positions

+20

Closed Positions

+30

Reduced Positions

-7

Total Calls

-66.67%

Total Puts

-62.5%

PUT/CALL Ratio

1.0

0.89

Neutral

Institutional Holders (2026 Q2)

135 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in ZBIO. Verified SEC 13F-HR filings.

QUARTER:

2026 Q2 filings are still coming in. Only funds that have filed so far are shown — top holders may not have reported yet. Full 13F data typically settles by ~50 days after quarter-end.

FILTER:All New Added To Reduced No Change | Overweight >5%

Top 25 ZBIO holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	Enavate Sciences GP, LLC	28.80%	3,919,159	$99.5M
2	NVP Associates, LLC	14.22%	1,838,482	$46.7M
3	Sr One Capital Management, LP	12.31%	5,037,854	$127.9M
4	NEA Management Company, LLC	6.43%	4,023,219	$102.1M
5	NEXTBio Capital Management LP	4.98%	426,736	$10.8M
6	Pivotal bioVenture Partners Investment Advisor LLC	4.05%	490,766	$12.5M
7	Fairmount Funds Management LLC	3.96%	2,359,025	$59.9M
8	Silverarc Capital Management, LLC	1.34%	509,789	$12.9M
9	Birchview Capital, LP	1.11%	93,601	$2.4M
10	EcoR1 Capital, LLC	0.97%	789,500	$20.0M
11	Sio Capital Management, LLC	0.88%	208,557	$5.3M
12	Exome Asset Management LLC	0.82%	52,443	$1.3M
13	Sphera Funds Management LTD.	0.76%	230,834	$5.9M
14	Rock Springs Capital Management LP	0.62%	502,077	$12.7M
15	ArrowMark Colorado Holdings LLC	0.61%	573,318	$14.6M
16	Vestal Point Capital, LP	0.22%	365,000	$9.3M
17	Scientech Research LLC	0.19%	9,028	$229K
18	Polar Capital Holdings Plc	0.14%	2,412,772	$61.2M
19	DCF Advisers, LLC	0.13%	28,184	$715K
20	Federated Hermes, INC.	0.11%	3,116,805	$79.1M
21	Seven Grand Managers, LLC	0.10%	100,000	$2.5M
22	VARCOV Co.	0.10%	10,505	$267K
23	Virtus Investment Advisers, LLC	0.10%	16,525	$419K
24	Atom Investors LP	0.08%	37,149	$943K
25	Voleon Capital Management LP	0.08%	167,145	$4.2M

Investor	Ownership History	% of Portfolio	Prev %	Rank	Conviction	Avg Buy Price	13F Score™ 3Y / 7Y	Sell Timing	Shares	Mkt Value	Change	Change %	Source	Quarter	Filed

Frequently Asked Questions — Zenas Biopharma Inc (ZBIO)

What does the Smart Money Trend signal show for ZBIO?

Buying streak — 7 quarters in a row: For 7 consecutive quarters, more hedge funds added ZBIO than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for ZBIO?

More buyers than sellers — 66% buying: Last quarter: 106 funds were net buyers (49 opened a brand new position + 57 added to an existing one). Only 55 were sellers (17 trimmed + 38 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for ZBIO holders?

Strong quality — 39% AUM from major funds: 34 of 135 holders rank in the top 100 by AUM, accounting for 39% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held ZBIO?

Mostly new holders — 57% entered in last year: Only 6 funds (4%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

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Zenas Biopharma Inc (ZBIO)

Smart Money Signals — ZBIO

Buying streak — 7 quarters in a row

At the ownership peak (100% of max)

Fast accumulation — +106% more funds vs a year ago

More buyers than sellers — 66% buying

Steady new buyers — ~49 new funds per quarter

Mostly new holders — 57% entered in last year

Buying through price weakness — shares +33%, value -28%

Acceleration phase — new buyers rushing in

Early stage — 62% of holders entered in last year

Strong quality — 39% AUM from major funds

Institutional Sentiment Summary — ZBIO

Hedge Fund Ownership: ZBIO

Market Analysis: ZBIO

Analyst Price Targets

Analyst Recommendations

Stock Performance

Company Profile: ZBIO

Hedge Fund Positioning: ZBIO

Statistics: ZBIO

Valuation Measures Data as of: --

Financial Highlights

Institutional Holders (2026 Q2)

Frequently Asked Questions — Zenas Biopharma Inc (ZBIO)

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