Vault-13

KEZAR LIFE SCIENCES INC KZR

COM NEW · Common Stock · CUSIP 49372L209

0 institutional holders -43 vs Q1 2026
—reported value*
0 new 0 added 0 reduced 42 sold out net sold ≈ $32.5m (-4.4m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0204060Q2 24: 1Q3 24: 3Q4 24: 44Q1 25: 42Q2 25: 41Q3 25: 39Q4 25: 43Q1 26: 43Q2 26: 00Q2 24Q4 24Q2 25Q4 25Q2 26
Numbers
QuarterHolders
Q2 20241
Q3 20243
Q4 202444
Q1 202542
Q2 202541
Q3 202539
Q4 202543
Q1 202643
Q2 20260

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
50050Q3 24: 2 bought or addedQ3 24: 0 cut or sold outQ4 24: 42 bought or addedQ4 24: 3 cut or sold outQ4 24Q1 25: 12 bought or addedQ1 25: 19 cut or sold outQ2 25: 13 bought or addedQ2 25: 12 cut or sold outQ2 25Q3 25: 13 bought or addedQ3 25: 12 cut or sold outQ4 25: 20 bought or addedQ4 25: 22 cut or sold outQ4 25Q1 26: 18 bought or addedQ1 26: 20 cut or sold outQ2 26: 0 bought or addedQ2 26: 42 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 202420
Q4 2024423
Q1 20251219
Q2 20251312
Q3 20251312
Q4 20252022
Q1 20261820
Q2 2026042

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$500k$1m$1.5mQ3 25 calls: $61.6kQ3 25 puts: $0Q3 25P/C 0.00Q4 25 calls: $888.8kQ4 25 puts: $0Q4 25P/C 0.00Q1 26 calls: $1.3mQ1 26 puts: $783.6kQ1 26P/C 0.62Q2 26 calls: $0Q2 26 puts: $0Q2 26P/C —
Numbers
QuarterCallsPutsP/C
Q3 2025$61.6k$00.00
Q4 2025$888.8k$00.00
Q1 2026$1.3m$783.6k0.62
Q2 2026$0$0—

Biggest buyers

None

Biggest sellers

BML Capital Management, LLC Sold out -720,787-720.8k
MONTANOVA CAPITAL, LLC Sold out -716,759-716.8k
TANG CAPITAL MANAGEMENT LLC Sold out -664,314-664.3k
VANGUARD CAPITAL MANAGEMENT LLC Sold out -290,529-290.5k
Rangeley Capital, LLC Sold out -243,073-243.1k
Affinity Asset Advisors, LLC Sold out -229,076-229.1k
RENAISSANCE TECHNOLOGIES LLC Sold out -188,426-188.4k
ACADIAN ASSET MANAGEMENT LLC Sold out -151,630-151.6k
MILLENNIUM MANAGEMENT LLC Sold out -142,050-142.1k
Peapod Lane Capital LLC Sold out -126,692-126.7k

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

No one currently above 5% in the filings since 19 Dec 2024.

Fell to 5% or below in the last year: Baselake Partners, LP (0.0%, 2026-05-28), TANG CAPITAL MANAGEMENT LLC (0.0%, 2026-05-13), Stonepine Capital Management, LLC (2.1%, 2026-02-13), Avidity Partners Management LP (0.0%, 2025-11-14)

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change