Zhihu Inc. (ZH) — Institutional Holders, Q2 2026
45 institutional investment managers reported a ZH position on SEC Form 13F-HR for the quarter ended June 30, 2026, with a combined reported value of $40.2M. Every filer is listed below, ranked by position value. Put and call option positions are excluded, and a firm filing several lots or share classes is shown once with its total.
ZH in Q2 2026: what funds did
Funds that filed a 13F for both Q1 2026 and Q2 2026, by what they did with the common stock. Share counts are adjusted for any split between the two quarters; dollar figures are the change in shares at this quarter’s price.
Biggest buyers
- FIL LtdAdded · +1,701,677 sh+$5.3M
- Harvest Fund Management , LtdNew · +210,000 sh+$657.3K
- TWO SIGMA INVESTMENTSAdded · +85,090 sh+$266.3K
- GOLDMAN SACHS GROUPAdded · +83,457 sh+$261.2K
- CITADEL ADVISORSAdded · +70,432 sh+$220.5K
Biggest sellers
- ACADIAN ASSET MANAGEMENTTrimmed · -288,085 sh-$901.7K
- Qube Research & Technologies LtdTrimmed · -204,035 sh-$638.6K
- E Fund Management (Hong Kong) , Ltd.Trimmed · -156,652 sh-$490.3K
- E Fund Management , Ltd.Trimmed · -156,652 sh-$490.3K
- JANE STREET GROUPTrimmed · -155,479 sh-$486.6K
ZH 13F holders ranked 1–45 of 45
| # | Institution | Shares | Value | % of portfolio | QoQShares vs Q1 2026 |
|---|---|---|---|---|---|
| 1 | FIL Ltd#1 · 3,639,387 sh | 3,639,387 | $11.5M | <0.01% | +87.8% |
| 2 | ACADIAN ASSET MANAGEMENT#2 · 2,946,610 sh | 2,946,610 | $9.2M | 0.01% | -8.9% |
| 3 | GOLDMAN SACHS GROUP#3 · 577,573 sh | 577,573 | $1.8M | <0.01% | +16.9% |
| 4 | First Beijing Investment Ltd#4 · 551,048 sh | 551,048 | $1.7M | 0.07% | 0.0% |
| 5 | E Fund Management (Hong Kong) , Ltd.#5 · 508,019 sh | 508,019 | $1.6M | 0.53% | -23.6% |
| 6 | E Fund Management , Ltd.#6 · 508,019 sh | 508,019 | $1.6M | 0.04% | -23.6% |
| 7 | DODGE & COX#7 · 501,092 sh | 501,092 | $1.6M | <0.01% | +4.2% |
| 8 | STATE STREET#8 · 469,155 sh | 469,155 | $1.5M | 0.00% | -23.2% |
| 9 | UBS Group AG#9 · 454,892 sh | 454,892 | $1.4M | <0.01% | +1.6% |
| 10 | Maven Securities LTD#10 · 400,387 sh | 400,387 | $1.3M | 0.02% | -16.5% |
| 11 | MORGAN STANLEY#11 · 232,938 sh | 232,938 | $729.1K | 0.00% | -26.0% |
| 12 | Oasis Management Ltd.#12 · 225,000 sh | 225,000 | $704.3K | 0.04% | 0.0% |
| 13 | Harvest Fund Management , Ltd#13 · 210,000 sh | 210,000 | $659.0K | 0.02% | New |
| 14 | ARROWSTREET CAPITAL, LIMITED PARTNERSHIP#14 · 168,256 sh | 168,256 | $526.6K | <0.01% | +12.1% |
| 15 | JANE STREET GROUP#15 · 148,150 sh | 148,150 | $463.7K | 0.00% | -51.2% |
| 16 | XTX Topco Ltd#16 · 133,210 sh | 133,210 | $416.9K | <0.01% | -1.8% |
| 17 | CITADEL ADVISORS#17 · 111,816 sh | 111,816 | $350.0K | 0.00% | +170.2% |
| 18 | JPMORGAN CHASE#18 · 104,565 sh | 104,565 | $327.3K | 0.00% | -8.2% |
| 19 | SEI INVESTMENTS#19 · 103,607 sh | 103,607 | $324.3K | <0.01% | -19.8% |
| 20 | TWO SIGMA INVESTMENTS#20 · 99,458 sh | 99,458 | $311.3K | <0.01% | +592.2% |
| 21 | Russell Investments Group, Ltd.#21 · 95,933 sh | 95,933 | $300.3K | <0.01% | 0.0% |
| 22 | BNP PARIBAS FINANCIAL MARKETS#22 · 95,875 sh | 95,875 | $300.1K | <0.01% | -19.3% |
| 23 | AMERICAN CENTURY COMPANIES#23 · 83,097 sh | 83,097 | $260.1K | <0.01% | 0.0% |
| 24 | NEW YORK STATE COMMON RETIREMENT FUND#24 · 68,640 sh | 68,640 | $214.8K | <0.01% | 0.0% |
| 25 | MILLENNIUM MANAGEMENT#25 · 64,869 sh | 64,869 | $203.0K | <0.01% | -42.7% |
| 26 | AMERIPRISE FINANCIAL#26 · 63,291 sh | 63,291 | $198.1K | 0.00% | -0.1% |
| 27 | RAMSEY QUANTITATIVE SYSTEMS#27 · 53,846 sh | 53,846 | $168.5K | — | New |
| 28 | Qube Research & Technologies Ltd#28 · 44,716 sh | 44,716 | $140.0K | <0.01% | -82.0% |
| 29 | Diversified#29 · 44,184 sh | 44,184 | $138.3K | <0.01% | 0.0% |
| 30 | MARSHALL WACE, LLP#30 · 35,750 sh | 35,750 | $111.9K | <0.01% | +86.7% |
| 31 | NOMURA#31 · 27,764 sh | 27,764 | $86.9K | <0.01% | -19.7% |
| 32 | Invesco Ltd.#32 · 26,688 sh | 26,688 | $83.5K | 0.00% | -12.2% |
| 33 | Police & Firemen's Retirement System of New Jersey#33 · 15,762 sh | 15,762 | $49.3K | <0.01% | 0.0% |
| 34 | SUSQUEHANNA INTERNATIONAL GROUP, LLP#34 · 11,669 sh | 11,669 | $36.5K | 0.00% | -15.1% |
| 35 | PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO#35 · 3,385 sh | 3,385 | $10.6K | 0.00% | 0.0% |
| 36 | Tower Research Capital (TRC)#36 · 3,188 sh | 3,188 | $10.0K | <0.01% | +283.2% |
| 37 | RHUMBLINE ADVISERS#37 · 1,727 sh | 1,727 | $5.4K | 0.00% | -6.2% |
| 38 | ROYAL BANK OF CANADA#38 · 843 sh | 843 | $3.0K | 0.00% | +410.9% |
| 39 | CITIGROUP#39 · 428 sh | 428 | $1.3K | 0.00% | -65.1% |
| 40 | PNC FINANCIAL SERVICES GROUP#40 · 144 sh | 144 | $451.00 | 0.00% | +13.4% |
| 41 | SBI Securities , Ltd.#41 · 105 sh | 105 | $329.00 | — | 0.0% |
| 42 | Caitong International Asset Management , Ltd#42 · 15 sh | 15 | $47.00 | 0.00% | +650.0% |
| 43 | SIMPLEX TRADING#43 · 7 sh | 7 | $21.00 | 0.00% | -96.9% |
| 44 | BlackRock#44 · 2 sh | 2 | $6.00 | 0.00% | 0.0% |
| 45 | TSFG#45 · 116 sh | 116 | $0.00 | — | 0.0% |
Funds that sold out of ZH in Q2 2026 (4)
Held ZH at the end of Q1 2026 and filed a Q2 2026 13F without it. Not in the list above, because they no longer hold it. Largest prior position first.
| Institution | Shares sold | Value in Q1 2026 |
|---|---|---|
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS140,523 sh | 140,523 | $399.1K |
| Point72 Asset Management, L.P.136,831 sh | 136,831 | $388.6K |
| HRT FINANCIAL24,144 sh | 24,144 | $68.0K |
| OSAIC50 sh | 50 | $142.00 |
Source: Form 13F-HR filings on SEC EDGAR, Q2 2026. Values are as reported by each manager at quarter end. “% of portfolio” is the position’s share of the manager’s total reported 13F value for the same quarter. “New” means the manager filed a 13F for Q1 2026 without this position; a dash means no comparison is available. Where a manager’s own filing is internally inconsistent its value is withheld and it is listed last. 13F data shows reported holdings, not recommendations.