Michael Liu and MJL Manager LLC report stakes in Xenetic Biosciences (NASDAQ: XBIO)

Rhea-AI Filing Summary

Xenetic Biosciences, Inc. Schedule 13G reports beneficial ownership by MJL Manager LLC and Michael Liu. MJL Manager LLC holds 93,565 shares (reported as 4.1% of the class) and Michael Liu holds 126,741 shares (5.5%), with shared voting and dispositive power reported.

The filing states Michael Liu is sole control person of MJL and both reporting persons disclaim beneficial ownership of each other’s shares except for their pecuniary interest; signatures are dated 05/29/2026.

Key Figures

Filing date: 05/29/2026 Michael Liu beneficially owned: 126,741 shares Michael Liu percent of class: 5.5% +3 more

6 metrics

Filing date 05/29/2026 Signature date on Schedule 13G

Michael Liu beneficially owned 126,741 shares Amount beneficially owned reported on Schedule 13G

Michael Liu percent of class 5.5% Percent of class reported on Schedule 13G

MJL Manager LLC beneficially owned 93,565 shares Amount beneficially owned reported on Schedule 13G

MJL Manager LLC percent of class 4.1% Percent of class reported on Schedule 13G

Sole voting power (Michael Liu) 33,176 shares Shares with sole voting power reported

Key Terms

Schedule 13G, beneficial ownership, shared dispositive power

3 terms

Schedule 13G regulatory

"Schedule 13G reports beneficial ownership by MJL Manager LLC and Michael Liu"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

beneficial ownership financial

"Amount beneficially owned: MJL Manager LLC - 93,565 Michael Liu - 126,741"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

shared dispositive power regulatory

"Shared Dispositive Power 93,565.00 reported for MJL Manager LLC"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/29/2026 - 04:04 PM Learn about SEC filing dates

FAQ

What stake does Michael Liu report in XBIO?

Michael Liu reports beneficial ownership of 126,741 shares, representing 5.5% of common stock. The filing shows he has 33,176 shares with sole voting and dispositive power and reports shared power over 93,565 additional shares.

How many XBIO shares does MJL Manager LLC report owning?

MJL Manager LLC reports beneficial ownership of 93,565 shares, equal to 4.1% of the class. The schedule reports 93,565 shares under shared voting and shared dispositive power for MJL Manager LLC.

Does Michael Liu control MJL Manager LLC according to the filing?

Yes. The filing states Michael Liu is the sole control person of MJL Manager LLC and has authority to direct voting and disposition of shares held in discretionary accounts managed by MJL, as described in the filing's comment.

What voting and dispositive powers are reported for XBIO holdings?

The schedule shows Michael Liu has 33,176 shares with sole voting and dispositive power and 93,565 shares with shared voting and dispositive power. MJL Manager LLC reports 93,565 shares with shared voting and dispositive power.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Xenetic Biosciences, Inc.

(Name of Issuer)

Common Stock, $0.001 par value per share

(Title of Class of Securities)

984015602

(CUSIP Number)

05/22/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 984015602

1

Names of Reporting Persons

MJL Manager LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 93,565.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 93,565.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

93,565.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.1 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): 984015602

1

Names of Reporting Persons

Michael Liu

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 33,176.00
6	Shared Voting Power 93,565.00
7	Sole Dispositive Power 33,176.00
8	Shared Dispositive Power 93,565.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

126,741.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.5 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: Michael Liu is the sole control person of MJL Manager LLC ("MJL") and, in such capacity, has the authority to direct the voting and disposition of the shares held in discretionary accounts managed by MJL. The reporting of shared power by both reporting persons shall not be construed as an admission that either is the beneficial owner of shares beneficially owned by the other, and each expressly disclaims beneficial ownership except to the extent of such person's actual pecuniary interest therein.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Xenetic Biosciences, Inc.
(b)	Address of issuer's principal executive offices: 945 CONCORD ST., FRAMINGHAM, MASSACHUSETTS, 01701
Item 2.
(a)	Name of person filing: MJL Manager LLC Michael Liu
(b)	Address or principal business office or, if none, residence: 12 Manley Road, Pennington NJ 08534
(c)	Citizenship: MJL Manager LLC - New Jersey Michael Liu - USA
(d)	Title of class of securities: Common Stock, $0.001 par value per share
(e)	CUSIP Number(s): 984015602
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: MJL Manager LLC - 92,565 Michael Liu - 126,741
(b)	Percent of class: MJL Manager LLC - 4.1% Michael Liu - 5.5%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: MJL Manager LLC - 0 Michael Liu - 33,176
	(ii) Shared power to vote or to direct the vote: MJL Manager LLC - 93,565 Michael Liu - 93,565
	(iii) Sole power to dispose or to direct the disposition of: MJL Manager LLC - 0 Michael Liu - 33,176
	(iv) Shared power to dispose or to direct the disposition of: MJL Manager LLC - 93,565 Michael Liu - 93,565
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. See Item 2(a) in lieu of an Exhibit.
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

MJL Manager LLC

Signature:	Michael Liu
Name/Title:	Managing Member
Date:	05/29/2026

Michael Liu

Signature:	Michael Liu
Name/Title:	Individual
Date:	05/29/2026

Exhibit Information

Exhibit I - JOINT FILING STATEMENT