Skip to content
Esta página está disponible en españolCambiar →
GestorLensSign up

ZAI Lab (ZLAB): which funds own it

Health Care →Data as of Jun 30, 2026 (Q2 2026) · updated on Nov 5, 2026

A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.

Follow ZLAB for free
Share

Sections with a free account

6 concentrated managers hold it (+1 vs last quarter) with a median weight of 0.9%. 1 officer or director bought in 6 months.

Who owns ZAI Lab?

ZAI Lab trades in the U.S. through ADRs, certificates that represent shares of a non-U.S. company. Form 13F counts ADRs while the company reports ordinary shares, so we do not compute percentages. Holders reporting more than 5% of the ordinary shares to the SEC (Schedules 13D/13G): RTW Investments, 6.3% (13G filed Feb 17, 2026), Qiming Corporate GP IV, 6.0% (13G/A filed Aug 12, 2025), Chen Yu, 5.3% (13G filed Jun 11, 2026) and RA Capital Management, 5.2% (13G filed Apr 6, 2026). As of Jun 30, 2026, the largest ADR holders reported on Form 13F were RTW Investments (6.6 million ADRs), TCG Crossover Management (6.1 million ADRs) and RA Capital Management (5.7 million ADRs).

Which institutions hold the most ZAI Lab shares?

Per Form 13F filings as of Jun 30, 2026, in ADRs:

  1. 1. RTW Investments: 6.6 million ADRs
  2. 2. TCG Crossover Management: 6.1 million ADRs
  3. 3. RA Capital Management: 5.7 million ADRs
  4. 4. ADAR1 Capital Management: 3.4 million ADRs
  5. 5. FMR: 2.8 million ADRs
  6. 6. Goldman Sachs Group: 2.3 million ADRs
  7. 7. Woodline Partners: 2.2 million ADRs
  8. 8. Frazier Life Sciences Management: 1.9 million ADRs
  9. 9. Bamco: 1.6 million ADRs
  10. 10. Two Sigma Investments: 1.3 million ADRs

Sources:13G by RTW Investments (Feb 17, 2026) ↗13G/A by Qiming Corporate GP IV (Aug 12, 2025) ↗13G by Chen Yu (Jun 11, 2026) ↗13G by RA Capital Management (Apr 6, 2026) ↗All of the company's proxy statements on EDGAR ↗

We hold 13D and 13G filings made since Dec 23, 2024: a holder above 5% that has not filed since then does not appear here.

ZAI Lab revenue

ZAI Lab reported annual revenue of $460.2 million for fiscal year 2025 (year ended December 31, 2025), according to its Form 10-K filed with the SEC (XBRL data).

Concentrated managers
6
All 13F: 92
Consensus
34/100
across 6 concentrated managersRanks by accumulation, portfolio weight and number of managers; it does not say more are buying than selling.
Price at Jun 30, 2026 (per 13F)
$19
+1.0% in the quarter · reported value ÷ shares, not the quote · See current quote ↗

Quarter flow (concentrated managers)

Change in managers (5 → 6): 1 opened · 0 exited = +1

Net flow in the quarter: +$116M (+6.1 M shares) · bought $117M and sold $190KShares concentrated managers added minus those they cut, valued at the 13F quarter-end implied price, not each trade's price. It is a different measure from the change in managers: the two can have opposite signs.

Concentrated managers holding it

Up to 15, sorted by position value. The percentage is the weight in each manager's portfolio.

Largest holders of ZLAB (all 13F filers)

The 10 13F filers with the most shares as of Jun 30, 2026, whatever their type (index firms usually come first). “Change”: shares added or cut versus the previous quarter, split-adjusted; “no data” = there is no comparable portfolio for the previous quarter (no filing, or a filing with its holdings under confidential treatment). “% of the company” only where shares outstanding are up to date. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. With a free account: the top 25, the largest buyers and the largest sellers.

Fundamentals

12-month figures to Jun 30, 2026 · balance sheet as of Jun 30, 2026.

Profitability
Operating margin
-58.7%
Net margin
-41.9%
ROE
-31.0%
Growth
Revenue (TTM)
$450M
Revenue growth
5.1%
Net income (TTM)
$-188M
Balance sheet
Net debt / EBITDA
—
Free cash flow (TTM)
$-140M
Quality vs sector
21/100

Figures from the statements the company filed with the SEC (10-K, 10-Q). Free cash flow = operating cash flow − capital expenditures; empty if the company does not report capex. “Quality vs sector”: 0 to 100, the average of its percentiles in ROE, operating margin, free-cash-flow margin, revenue and earnings growth and net debt / EBITDA (at least 3 needed) against companies in its sector above $300M. How each figure is calculated

Shares outstanding: buybacks and dilution

Diluted shares by fiscal year (split-adjusted)

2025: 1.10 bn

1.10 bn0
20202025
1 year
+10.7%
3 years
+14.3%
5 years
+41.0%
Buybacks (FY 2025)
no data
Share issuance
$0
Stock-based compensation
$65.6M14.3% of revenue
Dividends paid
no data

From the statements the company filed with the SEC (10-K). The change compares average diluted shares of each fiscal year, on today's basis: negative = it bought back more than it issued; positive = dilution. “No data” = the company does not report that item under a tag we can read; it does not mean zero.

Earnings quality and debt

Operating cash flow ÷ net income (12 months)
no datanot calculated with negative net income
Interest coverage (operating income ÷ interest)
−44.1 timesnegative operating income
Debt due within 12 months
$238M0.39 times cash and investments

From the figures the company filed with the SEC. Cash flow over net income near or above 1 means earnings are collected in cash; far below, that part is accounting. Coverage says how many times operating income pays the latest fiscal year's interest. Maturities come from the debt note of the latest annual report, counted from its closing date. “No data” never means zero.

Insiders (Form 4)

Officers and directors who bought (6 m)
1
Amount (6 m)
$33.1K
CEO/CFO bought (12 m)
No

10% owners who bought (6 m): 0

Open-market purchases, excluding 10b5-1 plans. Officers and directors only; joint filers of the same purchase count as one. 10% owners with no role are shown separately. 0 = nobody bought; “no data” = we do not have its Form 4 filings.

Each of the company's Form 4 filings, on EDGAR ↗Latest trades, with date and filing →

Above 5% (13D/13G)

Disclosed stakes, with their amendments. A filing is not always a purchase: there are also reductions and changes of filing entity.

This list may be incomplete: we hold 13D and 13G filings made since Dec 23, 2024. A holder above 5% that has not filed anything since then is not shown here.

Above 5% over time (13D/13G)

Each holder with its filings in order. History since December 2024.

Flagged material events (8-K)

  • Oct 23, 2026Routinefiling ↗

    Unregistered sale of equity securities (Item 3.02)

  • May 21, 2026Routinefiling ↗

    Change in directors or officers (Item 5.02)

Alert items the company itself flagged in its 8-K filings with the SEC, most serious first. It is the form's label, with no interpretation from us: Item 5.02 covers routine appointments as well as a chief executive's departure; open the filing. The quoted headline is the original press release's.

All material events (8-K)

Earnings, agreements, financing, management changes and announcements from the last year, with a filter by type and a link to each filing.

Other Health Care stocks in managers' portfolios

Same sector and a similar number of concentrated managers holding them. It is a list to keep exploring, not a recommendation.

All of Health Care →

Follow ZLAB for free

If someone reports a 5%+ stake, we email you (if you turn it on). And when you come back, see whether concentrated managers got in or out. No credit card.

Follow ZLAB