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Zhihu Inc.

ZH
Exchange
NYSE
Industry
Services-Business Services, NEC
SEC CIK
0001835724

No open-market purchases or sales by Zhihu Inc. insiders were filed in the last 90 days; 45 institutions reported holding it in 13F filings for Q2 2026, worth $40.2M in total; no superinvestor holds it.

Other share classesZHIHF

13F holders, Q1 2025

Institutional positions in Zhihu Inc. as of Mar 31, 2025. Investment managers with $100 million or more in US stocks report their long positions on Form 13F within 45 days after each quarter ends. How 13F works

Institutional holders
58
+9 vs. Q4 2024
Shares held
21.2M
+3.86M (+22.2%) vs. Q4 2024
Total value
$90.6M
+$29.1M (+47.3%) vs. Q4 2024
New holders
15
20 more added
Sold out
6
15 more reduced

Compare with Q4 2024: new holders, sold out and not filed yet

Holders and value by quarter

Institutions reporting ZH on Form 13F each quarter since Q1 2021, and the total value they reported. Values are as of each quarter end, so they also move with the share price.

Institutional holdersQ1 2025: 58 institutions
Q1 2021: 57 institutionsQ2 2021: 47 institutionsQ3 2021: 54 institutionsQ4 2021: 61 institutionsQ1 2022: 45 institutionsQ2 2022: 48 institutionsQ3 2022: 45 institutionsQ4 2022: 54 institutionsQ1 2023: 58 institutionsQ2 2023: 47 institutionsQ3 2023: 46 institutionsQ4 2023: 41 institutionsQ1 2024: 37 institutionsQ2 2024: 37 institutionsQ3 2024: 47 institutionsQ4 2024: 49 institutionsQ1 2025: 58 institutionsQ2 2025: 62 institutionsQ3 2025: 55 institutionsQ4 2025: 52 institutionsQ1 2026: 48 institutionsQ2 2026: 45 institutions
Value heldQ1 2025: $90.6M
Q1 2021: $271.6MQ2 2021: $420.0MQ3 2021: $519.2MQ4 2021: $352.5MQ1 2022: $170.2MQ2 2022: $140.8MQ3 2022: $78.6MQ4 2022: $80.3MQ1 2023: $103.5MQ2 2023: $83.1MQ3 2023: $93.7MQ4 2023: $88.3MQ1 2024: $74.3MQ2 2024: $35.4MQ3 2024: $65.8MQ4 2024: $61.5MQ1 2025: $90.6MQ2 2025: $72.8MQ3 2025: $90.5MQ4 2025: $48.8MQ1 2026: $34.6MQ2 2026: $40.2M
Institutions holding ZH and their total value by quarter
QuarterHoldersValue
Q2 202645$40.2M
Q1 202648$34.6M
Q4 202552$48.8M
Q3 202555$90.5M
Q2 202562$72.8M
Q1 202558$90.6M
Q4 202449$61.5M
Q3 202447$65.8M
Q2 202437$35.4M
Q1 202437$74.3M
Q4 202341$88.3M
Q3 202346$93.7M
Q2 202347$83.1M
Q1 202358$103.5M
Q4 202254$80.3M
Q3 202245$78.6M
Q2 202248$140.8M
Q1 202245$170.2M
Q4 202161$352.5M
Q3 202154$519.2M
Q2 202147$420.0M
Q1 202157$271.6M

Institutions, Q1 2025

Shares, value and share of portfolio for each institution holding Zhihu Inc.; share changes are against Q4 2024.

Institutions holding ZH in Q1 2025
InstitutionSharesValue% of portfolioChange in sharesAction
Matthews International Capital Management LLC3,652,757$15.6M3.22%−589,480−13.9%Reduced
Acadian Asset Management LLC2,941,056$12.5M0.04%+1,102,401+60.0%Added
Vanguard Group Inc2,813,008$12.0M0.00%−209,629−6.9%Reduced
MY.Alpha Management HK Advisors Ltd1,693,544$7.23M3.60%+1,693,544New
Norges Bank1,518,027$6.48M0.00%+1,518,027New
FIL Ltd1,525,175$6.42M0.01%+1,397,668+1,096.2%Added
Arrowstreet Capital, Limited Partnership1,105,349$4.72M0.00%+501,676+83.1%Added
Morgan Stanley652,841$2.79M0.00%−382,686−37.0%Reduced
State Street Corp506,792$2.16M0.00%+204,192+67.5%Added
Millennium Management LLC466,554$1.99M0.00%+466,554New
Citadel Advisors LLC449,613$1.92M0.00%+371,396+474.8%Added
Group One Trading, L.P.409,159$1.75M0.07%+409,159New
Marshall Wace, LLP299,064$1.28M0.00%+299,064New
Susquehanna International Group, LLP208,031$888.3K0.00%+116,611+127.6%Added
Goldman Sachs Group Inc205,473$877.4K0.00%−2,052,529−90.9%Reduced
Jane Street Group, LLC204,251$872.2K0.00%+169,845+493.6%Added
National Bank of Canada200,901$857.8K0.00%+200,900+20,090,000.0%Added
Cubist Systematic Strategies, LLC190,786$814.7K0.01%+180,583+1,769.9%Added
UBS Group AG190,294$812.6K0.00%−834,073−81.4%Reduced
Public Employees Retirement System of Ohio190,049$811.5K0.00%+186,664+5,514.4%Added
Bank of America Corp145,569$621.6K0.00%−908,962−86.2%Reduced
Commonwealth of Pennsylvania Public School Empls Retrmt Sys140,523$600.0K0.00%+59,090+72.6%Added
Walleye Capital LLC126,426$539.8K0.01%+112,184+787.7%Added
E Fund Management (Hong Kong) Co., Ltd.113,099$483.0K0.43%−37,749−25.0%Reduced
E Fund Management Co., Ltd.113,099$482.9K0.02%−37,749−25.0%Reduced
Nomura Holdings Inc112,464$480.2K0.00%−34,300−23.4%Reduced
Jump Financial, LLC100,875$430.7K0.01%+100,875New
Simplex Trading, LLC95,094$406.0K0.01%+81,672+608.5%Added
Renaissance Technologies LLC87,611$374.1K0.00%00.0%Unchanged
California Public Employees Retirement System84,899$362.5K0.00%+11,031+14.9%Added
Dymon Asia Capital (Singapore) Pte. Ltd.82,700$353.1K0.28%+82,700New
BNP Paribas Arbitrage, SA78,269$334.2K0.00%+9,811+14.3%Added
PFG Investments, LLC76,500$326.7K0.02%+76,500New
SEI Investments Co57,617$246.0K0.00%+57,617New
Healthcare of Ontario Pension Plan Trust Fund56,100$239.5K0.00%−309,200−84.6%Reduced
New York State Common Retirement Fund52,144$222.7K0.00%+20,478+64.7%Added
Wolverine Trading, LLC46,252$199.3K0.01%+35,853+344.8%Added
Prescott Group Capital Management, L.L.C.40,000$170.8K0.02%−188,510−82.5%Reduced
Centiva Capital, LP37,056$158.2K0.01%+37,056New
Invesco Ltd.35,056$149.7K0.00%−4,556−11.5%Reduced
HSBC Holdings PLC29,458$123.1K0.00%+29,458New
Citigroup Inc21,228$90.6K0.00%+18,679+732.8%Added
Russell Investments Group, Ltd.18,619$80.2K0.00%00.0%Unchanged
BlackRock, Inc.18,147$77.5K0.00%+18,145+907,250.0%Added
Empirical Financial Services, LLC d.b.a. Empirical Wealth Management12,798$54.6K0.00%+12,798New
Belvedere Trading LLC12,589$53.8K0.00%+12,589New
Two Sigma Advisers, LP11,966$51.1K0.00%−1,000−7.7%Reduced
Rhumbline Advisers2,886$12.3K0.00%−5,932−67.3%Reduced
Point72 Asia (Singapore) Pte. Ltd.2,525$10.8K0.00%+2,524+252,400.0%Added
Cedar Wealth Management, LLC2,483$10.6K0.00%00.0%Unchanged
Ridgewood Investments LLC666$2.84K0.00%00.0%Unchanged
Montag A & Associates Inc650$2.78K0.00%00.0%Unchanged
Legal & General Group Plc606$2.59K0.00%00.0%Unchanged
Bell Investment Advisors, Inc416$1.78K0.00%00.0%Unchanged
Caitong International Asset Management Co., Ltd300$1.28K0.00%+300New
SBI Securities Co., Ltd.190$8110.00%−1−0.5%Reduced
CoreCap Advisors, LLC25$1070.00%+25New
TSFG, LLC116$00.00%00.0%Unchanged
Barclays PLC0$00.00%−87,499−100.0%Sold out
XTX Topco Ltd0$00.00%−16,275−100.0%Sold out
JPMorgan Chase & Co0$00.00%−13,295−100.0%Sold out
Advisors Preferred, LLC0$00.00%−10,878−100.0%Sold out
Connor, Clark & Lunn Investment Management Ltd.0$00.00%−10,290−100.0%Sold out
Tower Research Capital LLC (TRC)0$00.00%−441−100.0%Sold out