Exploring Ginkgo Bioworks Holdings, Inc. (DNA) Investor Profile: Who’s Buying and Why?

You're looking at Ginkgo Bioworks Holdings, Inc. (DNA) and asking the right question: who is defintely buying this stock, and why are they holding on despite the volatility? As a seasoned analyst, I see a clear institutional conviction underpinning the company, even as the stock price has fluctuated; institutions currently hold around 59% of the shares outstanding, a powerful voting bloc that includes heavy hitters like Viking Global Investors and BlackRock, Inc.. But that conviction is tested by the numbers: the company is guiding for a 2025 total revenue between $167 million and $187 million, yet they reported a Q3 2025 GAAP net loss of $(81) million, showing the high burn rate of the synthetic biology (SynBio) space. The real story isn't the current quarterly loss, but the long-term bet on their cell programming platform, which is why funds are still adding to positions, like Erste Asset Management increasing their share count by 9.09% recently. Are these big players seeing a clear path to profitability that retail investors are missing, or is this simply a case of smart money chasing a high-risk, high-reward technological shift? Let's dive into the 13F filings to see what the largest shareholders, like Cascade Investment, L.L.C. with its 6.8% stake, are really signaling about Ginkgo's future.

Who Invests in Ginkgo Bioworks Holdings, Inc. (DNA) and Why?

If you're looking at Ginkgo Bioworks Holdings, Inc. (DNA), you are defintely looking at a high-risk, high-reward proposition in synthetic biology. The investor base reflects this, dominated by large, sophisticated institutional money betting on the long-term platform vision, even as the near-term financials show significant cash burn. Institutions hold the majority of the stock, but retail investors and hedge funds play distinct, volatile roles.

As of late 2025, institutions own approximately 59% of Ginkgo Bioworks Holdings, Inc.'s shares, making them the most powerful shareholder group and a key driver of volatility. This group includes giants like BlackRock, Inc., The Vanguard Group, Inc., and Viking Global Investors Lp, who are essentially staking a claim on the future of cell programming. The general public, or retail investors, holds a sizable chunk, around 15%, while hedge funds account for about 6.3%.

• Institutions: Own the largest block, focused on platform dominance.
• Retail Investors: Provide liquidity and are often drawn to the 'future of biotech' narrative.
• Hedge Funds: Seek near-term catalysts or short-term value creation.

The Core Motivation: Long-Term Growth Over Near-Term Profit

Investors are attracted to Ginkgo Bioworks Holdings, Inc. not for dividends-the company pays none, preferring to reinvest every dollar-but for its unique market position as the leading cell programming and biosecurity platform. The core thesis is a belief in the long-term scalability of its automated lab (the 'Foundry') and AI-enabled tools to disrupt industries from biopharma to agriculture. This is a bet on the company's ability to transition from innovative promise to financial performance.

The financial reality, however, is stark, which is why the investment is high-risk. The company is not profitable, with analysts anticipating a full-year 2025 Earnings Per Share (EPS) of around -$10.02. Still, the market is focused on the top-line segments. For the full year 2025, the company maintained its total revenue guidance between $167 million and $187 million. This includes Cell Engineering revenue of $117 million to $137 million and Biosecurity revenue of at least $40 million. The investment is a classic growth play, demanding patience for the cost reduction strategies to hit their target of positive Adjusted EBITDA by the end of 2026.

Here's the quick math on the financial state as of the third quarter of 2025. The GAAP net loss was $(81) million, and the Adjusted EBITDA was $(56) million, reflecting the heavy investment in the platform. The company's cash, cash equivalents, and marketable securities balance of $462 million as of September 30, 2025, gives it a runway to execute this strategy. You can dive deeper into these numbers in Breaking Down Ginkgo Bioworks Holdings, Inc. (DNA) Financial Health: Key Insights for Investors.

Investment Strategies: The Long Game vs. The Speculative Trade

The dominant strategy among the largest institutional holders is long-term holding. Firms like Baillie Gifford & Co. are known for their patient, growth-focused approach, viewing the synthetic biology platform as a multi-year investment. They are looking beyond the current negative free cash flow of -$142.5 million.

However, the stock also attracts short-term and speculative interest. The stock's high volatility and the presence of hedge funds suggest a mix of strategies. Hedge funds, owning 6.3%, often employ event-driven or activist strategies to push for near-term value. On the other end, the options market shows a put/call ratio of just 0.08 as of November 2025, which is a bullish signal, indicating a higher volume of call options being bought than put options, a clear sign of speculative optimism about a price rise. This is a stock where the long-term conviction of institutions clashes with the short-term, speculative trading of others.

The table below summarizes the key investor types and their primary motivations, showing why the stock price can swing so widely.

What this estimate hides is the significant insider ownership, which stands at around 17%, a factor that aligns management's interests with long-term shareholder value, but also limits the float for external investors. The next action for you is to map your own time horizon against these conflicting investor motivations.

Institutional Ownership and Major Shareholders of Ginkgo Bioworks Holdings, Inc. (DNA)

You're looking at Ginkgo Bioworks Holdings, Inc. (DNA), a synthetic biology company, and trying to figure out who the big money is betting on and why. The direct takeaway is this: institutional investors own the majority of the company, about 59% of the outstanding shares as of November 2025, which gives them significant collective power.

This high level of institutional backing-nearly three-fifths of the company-signals a degree of credibility in the investment community, but it also creates a vulnerability. When institutions hold this much stock, their collective buying or selling can dramatically impact the share price. It's a double-edged sword: validation versus volatility. The top 11 shareholders alone own a combined 52% of the company.

Top Institutional Investors and Their Stakes

The institutional investor profile for Ginkgo Bioworks is a mix of massive index funds, active asset managers, and a key private investment vehicle. The largest reported shareholder is Cascade Investment, L.L.C., which holds about 6.8% of the shares outstanding. This is Bill Gates' private investment firm, and its substantial stake is a notable long-term anchor for the stock.

Beyond Cascade, the list is populated by the usual giants of the financial world, whose positions are often driven by index tracking or long-term growth mandates. Here's a look at some of the top institutional holders and their share counts as of the Q3 2025 filing date (September 30, 2025):

Here's the quick math: using the November 14, 2025, share price of $8.03, BlackRock, Inc.'s stake of 3,417,996 shares is valued at approximately $27.46 million. That's a serious commitment to the synthetic biology platform. If you want to dive deeper into the company's core strategy, check out their Mission Statement, Vision, & Core Values of Ginkgo Bioworks Holdings, Inc. (DNA).

Recent Shifts: Who's Buying and Selling?

Looking at the most recent filings (Q3 2025), the picture is mixed, which is common for a growth stock in a capital-intensive sector. Overall, total institutional holdings saw a minor decrease of 3.2% in a recent quarter, but the activity is highly specific to the fund's mandate.

We see clear accumulation from some key players. For example, BlackRock, Inc. increased its position by a substantial 367,800 shares, representing a 12.058% jump. Similarly, Erste Asset Management GmbH boosted its stake by 200,000 shares, a 10% increase. This suggests a belief in the long-term growth trajectory and a willingness to buy on recent dips.

But still, not everyone is a buyer. Baillie Gifford & Co, known for its long-term, high-growth bets, trimmed its position slightly, decreasing its shares by 40,797, a small -1.245% change. This isn't a panic sale, but it shows a subtle re-evaluation of portfolio weighting. Other notable moves from November 2025 filings include:

• Raymond James Financial Inc. increased its stake by 336.1%.
• Equitable Holdings Inc. grew its position by 35.3%.
• Millennium Management LLC slashed its holdings by -98.3%.

The high-volume selling from funds like Millennium Management LLC, which are often hedge funds (a group that owns 6.3% of the stock), signals a near-term risk-off trade, or a shift in their short-term value creation thesis.

The Impact of Institutional Trading on Strategy

The sheer volume of institutional ownership means these entities aren't just passive investors; they are active stakeholders who can influence the company's direction. Because institutions own over 50% of the company, they can collectively influence board decisions. This is where the rubber meets the road for management.

The presence of hedge funds, which hold about 6.3% of shares, is defintely important. Hedge funds often look for ways to influence management to create near-term value. This can translate into pressure on Ginkgo Bioworks' leadership to accelerate its path to profitability, potentially through more aggressive cost reduction strategies or a faster monetization of its cell programming platform.

What this estimate hides is the difference between passive funds (like Vanguard's index funds) and active funds. The passive funds are locked in and provide stability. The active funds, like the hedge funds, are the ones you need to watch. Their trading decisions are what make the stock price vulnerable, especially when they move in unison, which can cause a rapid decline if they decide to de-risk. This is why watching the quarterly 13F filings for accumulation or distribution is a clear action you must take.

Finance: Track the top 10 institutional holders' changes in the next 13F filing due in Q1 2026.

Key Investors and Their Impact on Ginkgo Bioworks Holdings, Inc. (DNA)

You're looking at Ginkgo Bioworks Holdings, Inc. (DNA) and wondering who the big money is, and honestly, the ownership structure tells a clear story: institutions are firmly in control. This high level of institutional ownership-around 59% to 62% as of late 2025-means their collective decisions are the primary driver of stock movement and company strategy.

The investor profile is dominated by major global asset managers and a few significant hedge funds, which is typical for a high-growth, high-risk biotech play. Your investment thesis needs to account for their positioning. The top 11 shareholders alone control about 52% of the company, so their sentiment matters immensely.

Notable Funds and Their Near-Term Stakes

The list of top holders is a who's who of large-scale, long-term investors and tactical hedge funds. As of the September 30, 2025, filings, the largest reported holders are a mix of passive and active managers.

Here's the quick math on the top institutional stakes and their value based on Q3 2025 data:

You can see names like BlackRock, Inc. and Vanguard Group Inc., which are often passive index trackers (meaning they hold the stock because it's in an index fund), sitting alongside active managers like Viking Global Investors Lp and Baillie Gifford & Co.. The presence of these active funds suggests a conviction in the long-term cell programming thesis, despite the near-term volatility. Honestly, the index funds are just along for the ride, but the active funds are making a calculated bet.

Investor Influence: The Power of the Institutional Bloc

When institutions own over half the company, as they do here, they wield significant power. This bloc of institutional investors, owning roughly 59% of the shares, can defintely influence key corporate decisions, including board composition and major strategic shifts like acquisitions or divestitures.

Hedge funds, representing about 6.3% of the total shares, are the ones you watch for activism. They are the ones who might push management for faster cost reductions or a clearer path to profitability. They aren't typically passive. This pressure is a double-edged sword: it can force efficiency, but also introduce short-term thinking that distracts from the core, long-term platform build. The fact that insiders still own about 17% helps balance this, aligning management's interests with a long-term vision.

Recent Investor Sentiment and Portfolio Moves

Recent trading activity shows a mixed, but telling, picture of investor sentiment leading into the end of 2025. While the total number of funds reporting positions in Ginkgo Bioworks Holdings, Inc. actually increased by 24.67% in the quarter leading up to November 2025, the total number of shares owned by institutions decreased by 5.10%.

This means more funds are taking smaller, initial positions, but the existing large holders are trimming their stakes slightly. It's a classic sign of market skepticism balancing against new interest. The put/call ratio of 0.08 suggests a bullish outlook among options traders, which is a key counterpoint to the share-selling data.

• BlackRock, Inc. increased its stake by 12.058% as of September 30, 2025.
• Erste Asset Management GmbH increased its position by 10% in the same period.
• Baillie Gifford & Co. slightly decreased its holding by 1.245%.

So, you have a few major players adding to their conviction, but overall institutional capital is pulling back slightly. This implies a cautious re-evaluation of the stock's risk-reward profile following a period of high volatility.

Financial Context: Why They're Buying (or Selling)

The institutional moves are grounded in the company's financial reality and future outlook. The 2025 fiscal year guidance is a key factor. Ginkgo Bioworks Holdings, Inc. is projecting total revenue for the full year 2025 to be in the range of $167 million to $187 million.

Here's the breakdown of the revenue guidance: Cell Engineering revenue is expected to be between $117 million and $137 million, and Biosecurity revenue is expected to be at least $40 million. The Q3 2025 results showed a GAAP net loss of $(81) million, and the company's cash, cash equivalents and marketable securities stood at a healthy $462 million as of September 30, 2025.

The buy-side argument rests on the potential of the cell programming platform-the idea that it's a foundational technology, much like a cloud platform for biology. Investors who are buying are betting on the long-term vision laid out in the Mission Statement, Vision, & Core Values of Ginkgo Bioworks Holdings, Inc. (DNA). The ones selling are likely reacting to the continued net losses and the time it will take to scale the Cell Engineering business to offset the decline in Biosecurity revenue. It's a classic growth-vs-profitability debate, plain and simple.

Market Impact and Investor Sentiment

You're looking at Ginkgo Bioworks Holdings, Inc. (DNA) and seeing a complex picture: high institutional backing paired with recent stock volatility and insider selling. The overall investor sentiment is best described as cautiously optimistic, leaning into the long-term potential of the synthetic biology platform despite near-term financial struggles.

Institutional ownership remains robust, accounting for between 56.46% and 79.11% of the company's shares, depending on the reporting date. This level of holding signals a significant, fundamental belief in the company's core technology-cell programming-and its long-term vision, which you can read more about here: Mission Statement, Vision, & Core Values of Ginkgo Bioworks Holdings, Inc. (DNA).

Still, the institutional activity is mixed. While the number of funds reporting positions actually increased by 56 owners, a 24.67% rise in the last quarter, the total shares owned by institutions subtly decreased by 5.10% to 32,620K shares. It's a classic biotech tug-of-war: new money is starting positions, but some existing holders are trimming their exposure. The options market, however, is decidedly bullish, with a put/call ratio of just 0.08 as of mid-November 2025.

Recent Market Reactions and Ownership Shifts

The market's reaction to recent news has been sharp and unforgiving. Following the Q3 2025 earnings report on November 6, 2025, which showed an EPS miss of -$1.45 against a consensus of -$1.24, the stock experienced significant pressure. The price had fallen by a substantial 31.75% over the 10 days leading up to November 19, 2025, which is a massive drop for any portfolio.

Insider selling has also been a headwind. You saw Independent Director Christian O. Henry sell $220k worth of shares in the last quarter, and another insider sold 5,609 shares in October 2025. This net selling by insiders, who own a significant portion of the company, can defintely spook the market, signaling that those closest to the business don't see the stock as a bargain right now. Here's the quick math on the major institutional players who are either holding steady or increasing their bets:

• Viking Global Investors: Holds 7.89% ownership; no change in the last quarter.
• Baillie Gifford: Holds 7.14% ownership; a minor decrease in shares, but an increase in portfolio allocation by 26.94%.
• Erste Asset Management: Increased its stake by 9.09% in the last quarter.

Analyst Perspectives: The Growth vs. Profitability Trade-off

From an analyst's chair, the view on Ginkgo Bioworks Holdings, Inc. is a study in contrasts, reflecting the high-risk, high-reward nature of synthetic biology. The consensus rating is mixed-to-negative, with an average rating of 'Reduce' across the board. The average one-year price target, which sits at $10.88 as of November 17, 2025, implies a potential upside of 35.49% from the recent closing price of $8.03, but this target was recently lowered by 11.11% from $12.24.

The core concern is the path to profitability, even with the company's dramatic cost-cutting. For the full fiscal year 2025, the company reaffirmed its revenue guidance of $167 million to $187 million, with a market consensus near $177.07 million. The good news is the cash burn (free cash flow deficit) has been significantly reduced by 75%, down from $114 million in Q3 2024 to just $28 million in Q3 2025. This reduction, plus the $462 million in cash and equivalents on the balance sheet, buys them time.

What analysts are watching now is the shift in revenue mix. The company is actively moving toward a tools business model, leveraging artificial intelligence (AI) and automation to drive its Cell Engineering segment, which is projected to generate $117 million to $137 million in revenue in FY 2025. The Biosecurity segment, while smaller, is expected to bring in at least $40 million. The long-term thesis hinges on this pivot, but the near-term financials, like the trailing 12-month net loss of -$547.03 million, keep the pressure on. The market is waiting for the platform's potential to translate into consistent, profitable growth.

Here is a snapshot of the 2025 fiscal year financial focus: