Vault-13

ZENAS BIOPHARMA INC ZBIO 2.5 04.01.32

NOTE 2.500% 4/0 · US DOMESTIC · CUSIP 98937LAA3

14 institutional holders -3 vs Q1 2026
$190.9mprincipal reported held*
$229.8mreported value*
4 new 4 added 3 reduced 7 sold out net bought ≈ $15.4m (-4.7m 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

01020Q1 26: 17Q2 26: 1414Q1 26Q2 26
Numbers
QuarterHolders
Q1 202617
Q2 202614

Biggest buyers

Linden Advisors LP Added +28,397,000+28.4m
CITADEL ADVISORS LLC Added +13,705,000+13.7m
Context Capital Management, LLC Added +6,700,000+6.7m
READYSTATE ASSET MANAGEMENT LP New +6,500,000+6.5m
ADVENT CAPITAL MANAGEMENT /DE/ New +2,360,000+2.4m
DEERFIELD MANAGEMENT COMPANY, L.P. Added +2,200,000+2.2m
AGF MANAGEMENT LTD New +1,200,000+1.2m
SG Americas Securities, LLC New +16,400+16.4k

Biggest sellers

HIGHBRIDGE CAPITAL MANAGEMENT LLC Sold out -20,000,000-20.0m
BRAIDWELL LP Sold out -13,000,000-13.0m
Monashee Investment Management LLC Sold out -3,152,000-3.2m
JANE STREET GROUP, LLC Reduced -3,000,000-3.0m
D. E. Shaw & Co., Inc. Sold out -3,000,000-3.0m
Calamos Advisors LLC Sold out -2,500,000-2.5m
Maven Securities LTD Sold out -1,500,000-1.5m
MILLENNIUM MANAGEMENT LLC Reduced -1,000,000-1.0m
Jefferies Financial Group Inc. Reduced -550,000-550.0k
ARISTEIA CAPITAL, L.L.C. Sold out -500,000-500.0k

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 DEERFIELD MANAGEMENT COMPANY, L.P. 0.84% of their portfolio New York, NY 67,200,00067.2m $80.3m $80.3m 0.84% Added +2.2m +2,200,000
2 Linden Advisors LP 0.22% of their portfolio New York, NY 35,897,00035.9m $42.9m $42.9m 0.22% Added +28.4m +28,397,000
3 Context Capital Management, LLC 0.86% of their portfolio LAJOLLA, CA 35,800,00035.8m $42.6m $42.6m 0.86% Added +6.7m +6,700,000
4 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 21,705,00021.7m $26.0m $26.0m 0.01% Added +13.7m +13,705,000
5 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 6,500,0006.5m $7.8m $7.8m 0.00% Reduced -3.0m -3,000,000
6 READYSTATE ASSET MANAGEMENT LP 0.31% of their portfolio CHICAGO, IL 6,500,0006.5m $7.7m $7.7m 0.31% New
7 Jefferies Financial Group Inc. 0.06% of their portfolio NEW YORK, NY 4,998,0005.0m $6.0m $6.0m 0.06% Reduced -550.0k -550,000
8 CAPSTONE INVESTMENT ADVISORS, LLC 0.03% of their portfolio NEW YORK, NY 3,500,0003.5m $4.2m $4.2m 0.03% Unchanged
9 Graham Capital Management, L.P. 0.08% of their portfolio ROWAYTON, CT 2,500,0002.5m $3.0m $3.0m 0.08% Unchanged
10 Woodline Partners LP 0.01% of their portfolio San Francisco, CA 2,500,0002.5m $3.0m $3.0m 0.01% Unchanged
11 ADVENT CAPITAL MANAGEMENT /DE/ 0.06% of their portfolio NEW YORK, NY 2,360,0002.4m $2.8m $2.8m 0.06% New
12 AGF MANAGEMENT LTD 0.01% of their portfolio TORONTO, A6 1,200,0001.2m $1.4m $1.4m 0.01% New
13 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 200,000200.0k $239.4k $239.4k 0.00% Reduced -1.0m -1,000,000
14 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 16,40016.4k $2.0m $2.0m 0.00% New