Zions Bancorporation

ZION and ZIONL • NASDAQ

Zions Bancorporation is a banks - regional company in the financial services sector on NASDAQ, led by Paul E. Burdiss, with a market cap of $8.7B. As of Q3 2025, 79% of shares are held by 505 institutional investors, with VANGUARD GROUP INC as the largest holder at 12.73%.

President and Chief Executive Officer of Zions BankPaul E. Burdiss

Market Cap$8.7B

Banks - Regional

Financial Services

Employees9.7K

Websitezionsbancorporation.com

Country

United States of America

Overview

Overview of institutional ownership in ZION and ZIONL as of Q3 2025 with a market cap of $8.4B

All Institutions

Institutions: 505
Value Held: $6.6B
Shares Held: 116.7M
Avg Position: $13.1M
Median Position: $579.2K

Hedge Funds

Hedge Funds: 45
Value Held: $901.7M
Shares Held: 15.9M
Avg Position: $20.0M
Median Position: $3.4M

Ownership Breakdown

Institutional (non-HF)

68.27%

$5.7B

Hedge Funds

10.8%

$901.7M

Retail & Other

20.94%

$1.7B

Based on market cap of $8.4B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in ZION and ZIONL as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$1.1B 0.02% of portfolio	12.73% 18.8M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
B BlackRock, Inc. Institution	-	$779.7M 0.01% of portfolio	9.33% 13.8M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$415.5M 0.09% of portfolio	4.97% 7.3M shares	≤ Q2 2013 Held for 12y 5m+	$466.32B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$351.9M 0.01% of portfolio	4.21% 6.2M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
L LSV ASSET MANAGEMENT Long Only Manager	Josef Nmn Lakonishok CEO	$217.3M 0.48% of portfolio	2.60% 3.8M shares	Q1 2016 Held for 9y 8m	$45.1B
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	Kenneth Cordele Griffin CEO	$205.6M 0.17% of portfolio	2.46% 3.6M shares	≤ Q2 2013 Held for 12y 5m+	$122.08B
VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. Long Only Manager	Christopher David Wallis CEO	$183.5M 1.67% of portfolio	2.20% 3.2M shares	Q3 2023 Held for 2y 2m	$11.0B
F FIDUCIARY MANAGEMENT INC /WI/ Long Only Manager	John Scott Brandser CEO	$171.4M 1.74% of portfolio	2.05% 3.0M shares	≤ Q2 2013 Held for 12y 5m+	$9.9B
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	Dan Michael Berkovitz Chairman	$169.3M 0.14% of portfolio	2.03% 3.0M shares	≤ Q2 2013 Held for 12y 5m+	$121.98B
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	David Gary Kabiller Founder	$167.7M 0.11% of portfolio	2.01% 3.0M shares	Q4 2015 Held for 9y 11m	$156.17B

Net Capital Flow

Institutional buying and selling activity for ZION and ZIONL in Q3 2025

Traded: +$148.4M
Buyers: 241
Sellers: 222
Total Bought: +$515.4M
Total Sold: −$367.0M
Avg Position: $12.0M

Biggest Buyers

Institution	Net Bought	Current Position
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$104.3M +1.8M shares	$169.3M 3.0M shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$40.2M +711.2K shares	$167.7M 3.0M shares
F FIL Ltd Institution	+$28.9M +511.5K shares	$28.9M 511.5K shares
MACKENZIE FINANCIAL CORP Long Only Manager	+$26.8M +473.6K shares	$27.7M 489.5K shares
VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. Long Only Manager	+$23.1M +409.1K shares	$183.5M 3.2M shares
FIRST TRUST ADVISORS LP ETF Provider	+$22.9M +405.2K shares	$69.8M 1.2M shares
MORGAN STANLEY RIA/Wealth	+$21.5M +380.6K shares	$160.9M 2.8M shares
F FIDUCIARY MANAGEMENT INC /WI/ Long Only Manager	+$21.4M +378.3K shares	$171.4M 3.0M shares
Bridgewater Associates, LP Hedge Fund•Global Macro	+$21.0M +371.2K shares	$30.9M 545.4K shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	+$17.2M +303.8K shares	$91.7M 1.6M shares

Biggest Sellers

Institution	Net Sold	Current Position
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$29.3M −517.5K shares	$4.7M 83.7K shares
VANGUARD GROUP INC Institution	−$29.2M −515.5K shares	$1.1B 18.8M shares
AMERIPRISE FINANCIAL INC Institution	−$28.3M −500.2K shares	$21.9M 387.2K shares
STATE STREET CORP Institution	−$21.9M −386.7K shares	$351.9M 6.2M shares
GOLDMAN SACHS GROUP INC Institution	−$14.7M −260.4K shares	$75.0M 1.3M shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$14.0M −247.0K shares	$23.8M 421.0K shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	−$11.5M −221.4K shares	Sold Off 0 shares
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	−$11.5M −221.1K shares	Sold Off 0 shares
F Freestone Grove Partners LP Hedge Fund•Multi-Strategy	−$10.7M −205.3K shares	Sold Off 0 shares
PANAGORA ASSET MANAGEMENT INC Hedge Fund•Quant	−$10.1M −178.7K shares	$8.8M 156.0K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited ZION and ZIONL in Q3 2025

New Positions: 30
New Value: $21.1M
Exited Positions: 46
Exited Value: $74.3M

New Positions

Institution	Position Value
A Appaloosa LP Hedge Fund•Event Driven	$16.1M 285.0K shares
Voleon Capital Management LP Hedge Fund•Quant	$1.2M 21.7K shares
Catalytic Wealth RIA, LLC RIA/Wealth	$450.2K 8.0K shares
Arista Wealth Management, LLC RIA/Wealth	$375.2K 6.6K shares
Essex LLC RIA/Wealth	$263.7K 4.7K shares
Meeder Advisory Services, Inc. Long Only Manager	$241.0K 4.3K shares
J. Safra Sarasin Holding AG Fund of Funds	$235.8K 4.2K shares
C Camden Capital, LLC RIA/Wealth	$233.4K 4.1K shares
R Root Financial Partners, LLC RIA/Wealth	$232.2K 4.1K shares
N NORDEN GROUP LLC Institution	$229.5K 4.1K shares

Exited Positions

Institution	Previous Position
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$11.5M 221.4K shares
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	$11.5M 221.1K shares
F Freestone Grove Partners LP Hedge Fund•Multi-Strategy	$10.7M 205.3K shares
A AXA Institution	$8.4M 162.3K shares
K KETTLE HILL CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	$6.1M 117.6K shares
T TEXAS PERMANENT SCHOOL FUND Institution	$5.7M 108.8K shares
Black Maple Capital Management LP Hedge Fund•Multi-Strategy	$3.2M 61.5K shares
S Sciencast Management LP Hedge Fund•Quant	$1.6M 31.6K shares
A Assenagon Asset Management S.A. Institution	$1.6M 31.0K shares
Numerai GP LLC Hedge Fund•Quant	$1.5M 29.0K shares

Options Activity

Institutions with the largest Call and Put options positions in ZION and ZIONL as of Q3 2025

Call Positions: 13
Call Value: $46.1M
Put Positions: 19
Put Value: $52.4M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$16.2M 2.9K contracts
UBS Group AG Institution	$6.0M 1.1K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$4.6M 808.0 contracts
CITIGROUP INC Institution	$4.5M 800.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$3.8M 671.0 contracts
J JANE STREET GROUP, LLC Institution	$3.6M 641.0 contracts
W WOLVERINE TRADING, LLC Institution	$3.1M 542.0 contracts
Walleye Trading LLC RIA/Wealth	$1.7M 305.0 contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$933.6K 165.0 contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$826.1K 146.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$10.4M 1.8K contracts
Interval Partners, LLC Hedge Fund•Long/Short	$9.0M 1.6K contracts
Walleye Trading LLC RIA/Wealth	$7.8M 1.4K contracts
UBS Group AG Institution	$6.0M 1.1K contracts
CITIGROUP INC Institution	$5.9M 1.1K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$5.0M 880.0 contracts
W WOLVERINE TRADING, LLC Institution	$3.1M 539.0 contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$1.9M 338.0 contracts
J JANE STREET GROUP, LLC Institution	$1.6M 281.0 contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$662.0K 117.0 contracts

Most Committed Institutions

Institutions with ZION and ZIONL as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Siena Capital Management, LLC Hedge Fund•Sector	Daniel Kanter President	3.43% $5.7M	0.07% 101.3K shares	Q2 2023 Held for 2y 5m	$167.0M
Elizabeth Park Capital Advisors, Ltd. Hedge Fund•Long/Short	Fred Anthony Cummings President	2.67% $3.4M	0.04% 59.4K shares	Q1 2025 Held for 8 months	$126.0M
P Petiole USA ltd Institution	-	1.95% $2.8M	0.03% 50.0K shares	Q4 2024 Held for 11 months	$144.8M
F FIDUCIARY MANAGEMENT INC /WI/ Long Only Manager	John Scott Brandser CEO	1.74% $171.4M	2.05% 3.0M shares	≤ Q2 2013 Held for 12y 5m+	$9.9B
VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. Long Only Manager	Christopher David Wallis CEO	1.67% $183.5M	2.20% 3.2M shares	Q3 2023 Held for 2y 2m	$11.0B
FJ Capital Management LLC Hedge Fund•Long/Short	Martin Saul Friedman Founder	1.52% $15.2M	0.18% 268.1K shares	Q1 2025 Held for 8 months	$999.9M
SANDLER ONEILL ASSET MANAGEMENT LLC Hedge Fund•Long/Short	Terry Anthony Maltese President	1.40% $9.1M	0.11% 160.0K shares	Q4 2023 Held for 1y 11m	$646.2M
G Green Square Asset Management, LLC Institution	-	1.06% $6.5M	0.08% 115.6K shares	Q2 2023 Held for 2y 5m	$618.6M
G Global Financial Private Client, LLC RIA/Wealth	Geoffrey Allen Frazier CCO	0.69% $1.9M	0.02% 33.9K shares	Q1 2020 Held for 5y 8m	$275.9M
WEDGE CAPITAL MANAGEMENT L L P/NC Long Only Manager	Wesley Scott Stoltz Managing Partner	0.64% $37.9M	0.45% 669.6K shares	Q1 2024 Held for 1y 8m	$5.9B