Ranked by reported Q1 2026 13F market value
Share of total reported institutional value in ZH held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | FIL Ltd | 1.9M | $5.4M | -0.8% | 2.371% | 0.00% |
| 2 | E Fund Management Co., Ltd. | 665K | $1.9M | β | 0.813% | 0.06% |
| 3 | E Fund Management (Hong Kong) Co., Ltd. | 665K | $1.9M | +28.1% | 0.813% | 0.86% |
| 4 | STATE STREET CORP | 611K | $1.7M | -31.1% | 0.748% | 0.00% |
| 5 | First Beijing Investment Ltd | 551K | $1.6M | β | 0.674% | 0.07% |
| 6 | GOLDMAN SACHS GROUP INC | 494K | $1.4M | +227.7% | 0.605% | 0.00% |
| 7 | DODGE & COX | 481K | $1.4M | +50.7% | 0.589% | 0.00% |
| 8 | Maven Securities LTD | 480K | $1.4M | +2.9% | 0.587% | 0.08% |
| 9 | UBS Group AG | 448K | $1.3M | +2.6% | 0.548% | 0.00% |
| 10 | MORGAN STANLEY | 315K | $894K | -24.2% | 0.385% | 0.00% |
| 11 | JANE STREET GROUP, LLC | 304K | $862K | +177.4% | 0.372% | 0.01% |
| 12 | Qube Research & Technologies Ltd | 249K | $706K | +278.0% | 0.304% | 0.00% |
| 13 | Oasis Management Co Ltd. | 225K | $639K | 0.0% | 0.275% | 0.12% |
| 14 | ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | 150K | $426K | -69.9% | 0.184% | 0.00% |
| 15 | COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS | 141K | $399K | 0.0% | 0.172% | 0.00% |
| 16 | Point72 Asset Management, L.P. | 137K | $389K | +665.4% | 0.168% | 0.00% |
| 17 | XTX Topco Ltd | 136K | $385K | +55.3% | 0.166% | 0.01% |
| 18 | SEI INVESTMENTS CO | 129K | $367K | +124.2% | 0.158% | 0.00% |
| 19 | BNP PARIBAS ARBITRAGE, SA | 119K | $338K | +20.8% | 0.145% | 0.00% |
| 20 | MILLENNIUM MANAGEMENT LLC | 113K | $321K | β | 0.138% | 0.00% |
| 21 | Russell Investments Group, Ltd. | 96K | $259K | +420.8% | 0.117% | 0.00% |
| 22 | AMERICAN CENTURY COMPANIES INC | 83K | $236K | +0.7% | 0.102% | 0.00% |
| 23 | NEW YORK STATE COMMON RETIREMENT FUND | 69K | $195K | +31.6% | 0.084% | 0.00% |
| 24 | AMERIPRISE FINANCIAL INC | 63K | $180K | -0.1% | 0.077% | 0.00% |
| 25 | CITADEL ADVISORS LLC | 55K | $156K | β | 0.067% | 0.00% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). β% of Fundβ shows how much of that investorβs total 13F portfolio is invested in ZH β a direct measure of their conviction.
Filings activity in ZH during Q1 2026, grouped by how each filer changed its position.
8 quarters of 13F filings Β· Ξ columns show change vs prior quarter
| Quarter | Inst. Holders | Ξ Holders | Ownership % | Ξ Ownership | Total 13F Value | Ξ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 47 | 7.8% | 9.58% | 4.91 pp | $25M | 34% |
| Q4 2025 | 51 | 7.3% | 14.49% | 13.47 pp | $38M | 48% |
| Q3 2025 | 55 | 13% | 27.96% | +5.11 pp | $74M | +22% |
| Q2 2025 | 63 | +15% | 22.85% | 3.21 pp | $60M | 12% |
| Q1 2025 | 55 | +10% | 26.06% | +5.57 pp | $69M | +27% |
| Q4 2024 | 50 | +4.2% | 20.49% | 2.57 pp | $54M | 11% |
| Q3 2024 | 48 | +33% | 23.06% | +9.97 pp | $61M | +76% |
| Q2 2024 | 36 | β | 13.09% | β | $34M | β |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Ξ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying ZH stock.
Based on Q1 2026 13F filings, institutional ownership of Zhihu Inc. stands at 9.6%, held across 47 reporting institutions.
FIL Ltd is the largest reported institutional holder of ZH, with approximately 1,937,710 shares worth $0.01B as of Q1 2026.
Yes β 4 widely-followed marquee investors appear among the top 25 institutional holders of ZH, including JANE STREET GROUP, LLC, Point72 Asset Management, L.P., MILLENNIUM MANAGEMENT LLC, CITADEL ADVISORS LLC.
Our composite Smart Money Score for ZH is 44 out of 100 (Neutral). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
8 institutions opened new positions in ZH during Q1 2026, while 12 fully exited. 13 added to existing positions and 24 trimmed.
ZH institutional ownership fell by 4.91 percentage points quarter-over-quarter, with a net change of -4 holders.
The top 10 institutions account for 74.4% of all reported 13F value in ZH, and the top 25 account for 97.7%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
Zhihu Inc. (ZH) Institutional Ownership