Zhihu Ownership | Who Owns Zhihu?

Zhihu Ownership Summary

Zhihu is owned by 3.90% institutional investors, 13.40% insiders, and 82.70% retail investors. Acadian asset management is the largest institutional shareholder, holding 4.02% of ZH shares. Fidelity China Special Situations Ord is the top mutual fund, with 2.12% of its assets in Zhihu shares.

ZH Ownership Benchmark

Type	Name	% Inst	% Insiders	% Retail
Stock	Zhihu	3.90%	13.40%	82.70%
Sector	Communication Services Stocks	28.49%	16.18%	55.33%
Industry	Internet Content & Information Stocks	33.63%	15.87%	50.50%

Institutional Shareholders

Top Institutional Shareholders by Total Shares

Holder	Shares	% Holding	Value
Acadian asset management	3.21M	4.02%	$10.51M
Fil	1.93M	2.41%	$10.01B
Vanguard group	1.80M	2.26%	$5.92M
Matthews capital management	4.24M	1.55%	$15.02M
Arrowstreet capital, limited partnership	1.09M	1.36%	$5.53M
State street	624.62K	0.78%	$3.17M
E fund management (hong kong)	518.65K	0.65%	$1.85M
Ubs group	436.33K	0.55%	$1.43M
Morgan stanley	415.40K	0.52%	$1.36M
Marshall wace, llp	282.97K	0.35%	$1.43M

Top Institutional Shareholders by % of Total Assets

Holder	Shares	% Assets	Value
Matthews capital management	4.24M	3.07%	$15.02M
E fund management (hong kong)	518.65K	0.62%	$1.85M
Oasis management	225.00K	0.11%	$1.14M
E fund management	195.46K	0.04%	$777.94K
Acadian asset management	3.21M	0.02%	$10.51M
Gsa capital partners llp	44.88K	0.01%	$147.00K
Fil	1.93M	0.01%	$10.01B
Capitolis liquid global markets	148.50K	0.01%	$752.89K
Arrowstreet capital, limited partnership	1.09M	0.00%	$5.53M
Public employees retirement system of ohio	190.05K	0.00%	$963.55K

Top Buyers

Holder	Shares	% Assets	Change
Fil	1.93M	0.01%	1.44M
E fund management (hong kong)	518.65K	0.62%	285.27K
Dodge & cox	276.90K	0.00%	276.90K
Norges bank	244.63K	0.00%	244.63K
Oasis management	225.00K	0.11%	225.00K

Top Sellers

Holder	Shares	% Assets	Change
Alibaba group	-	-	-10.53M
Bank of america corp /de/	-	-	-6.33M
Blackrock	-	-	-2.31M
My.alpha management hk advisors	-	-	-1.36M
Matthews capital management	4.24M	3.07%	-1.18M

New Positions

Holder	Shares	% Assets	Change	Value
Dodge & cox	276.90K	0.00%	276.90K	$1.40M
Norges bank	244.63K	0.00%	244.63K	$802.40K
Oasis management	225.00K	0.11%	225.00K	$1.14M
Capitolis liquid global markets	148.50K	0.01%	148.50K	$752.89K
Qube research	27.84K	0.00%	27.84K	$141.16K

Sold Out

Holder	Change
Corecap advisors	-25.00
Tsfg	-116.00
Ronald blue trust	-161.00
Eversource wealth advisors	-257.00
Legal & general group	-606.00

Institutional Ownership Trends

Date	Holdings	Change %	Shares	Change %	Ownership	Change %	Increased Position	Change %	Decreased Position	Change %
Dec 31, 2025	10	-82.76%	3,115,834	-79.10%	3	1.13%	3	-88.46%	5	-68.75%
Sep 30, 2025	13	-78.33%	2,603,330	-81.11%	3	10.23%	7	-73.08%	3	-85.00%
Jun 30, 2025	64	3.23%	14,737,675	-8.28%	6	17.58%	26	-23.53%	23	64.29%
Mar 31, 2025	62	19.23%	16,068,845	-7.64%	5	14.57%	34	36.00%	14	-12.50%
Dec 31, 2024	1	-	4,242,237	-21.70%	1	4.64%	-	-100.00%	1	-

Top Mutual Funds Shareholders

Holder	Shares	% Holding	Change
Fidelity China Special Situations Ord	1.88M	2.12%	1.88M
Matthews EM Sm Coms Inv	1.71M	1.93%	-
Foord Asia ex-Japan Fund C1 USD Acc	734.78K	0.83%	734.78K
Fidelity China Special Ord	640.10K	0.73%	-325.93K
Vanguard Total Intl Stock Index Inv	607.84K	0.68%	-
Matthews Emerging Markets Sust Fut Inst	591.56K	0.67%	-
Vanguard Emerging Mkts Stock Idx Inv	569.12K	0.64%	-
E Fund (HK) China Equity Div I HKD Inc	518.26K	0.58%	126.58K
State Street Emerg Mrkts Scrn Enh EqIUSD	518.00K	0.58%	455.63K
Jacob Internet Inv	379.00K	0.43%	379.00K

ZH Ownership FAQ

Who Owns Zhihu?

Zhihu shareholders are primarily institutional investors at 3.90%, followed by 13.40% insiders and 82.70% retail investors. The average institutional ownership in Zhihu's industry, Internet Content & Information Stocks , is 33.63%, which Zhihu falls below.

Who owns the most shares of Zhihu?

Zhihu’s largest shareholders are Acadian asset management (3.21M shares, 4.02%), Fil (1.93M shares, 2.41%), and Vanguard group (1.8M shares, 2.26%). Together, they hold 8.69% of Zhihu’s total shares outstanding.

Does Blackrock own Zhihu?

BlackRock is not among the top 10 institutional shareholders of Zhihu.

Who is Zhihu’s biggest shareholder by percentage of total assets invested?

Matthews capital management is Zhihu’s biggest shareholder by percentage of total assets invested, with 3.07% of its assets in 4.24M Zhihu shares, valued at 15.02M$.

Who is the top mutual fund holder of Zhihu shares?

Fidelity China Special Situations Ord is the top mutual fund holder of Zhihu shares, with 2.12% of its total shares outstanding invested in 1.88M Zhihu shares.

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