$ZH

$3.31 -$0.05 (1.49%) Close

$ZH Overview Financial Statements SEC Filings Executives News Red Flags Capital Raising Ownership Insider Transactions Congressional Trades

Ownership

13F as of Q2 2026 · 240.0M shares outstanding

Who owns ZH?

By type of holder

Institutions 5.3% Insiders 0.0% Everyone else 94.7%

Concentration Top 10 holders own 14.8%

Plus Channel Limited 10.6% · FIL Ltd 1.5%

Institutional ownership

5.3%

+0.2 pts vs last qtr

Institutional holders

-4 vs last qtr

Net shares bought

+567.2K

by institutions in Q2 2026

New / sold out

2 / 6

positions opened vs closed

How is ownership changing?

Institutions, last 8 quarters

Biggest buyers in Q2 2026

FIL Ltd +1.7M
Harvest Fund Management Co., Ltd NEW +210.0K

Biggest sellers in Q2 2026

Acadian Asset Management LLC −288.1K
Qube Research & Technologies Ltd −204.0K

Who is planning to sell?

No insider has filed a notice of proposed sale (Form 144) for Zhihu Inc in the last 12 months.

Is your stake being diluted?

Diluted share count, FY2019–FY2025

+285.6%

+25.23% a year

Each share's claim on the business

−74.1%

shrank without buying or selling a share

Spent on buybacks vs paid in stock

$922M vs $1.52B

over 7 fiscal years

Diluted shares, split-adjusted

Buybacks Stock-based comp

How patient are the owners?

Institutional shares by how long they've been held

5+ years0% 3–5 years0% 1–3 years77% Under 1 year23%

Quarterly turnover

16.2%

of institutional shares changed hands

Top 10 managers, median time held

1.8 years

Super Investors

Investment managers reporting ZH on Form 13F

Holder	Shares	% of company	Change vs last qtr	Held since	% of their book
F FIL Ltd	3.6M	1.52%	+1.7M (+87.8%)	2024	0.0%
Shares held by quarter Peak holding3.6M (Q2'26) Change over 8 quarters+3.6M Share of the company1.520% FIL Ltd's full portfolio →
AA Acadian Asset Management LLC	2.9M	1.23%	−288.1K (−8.9%)	2024	0.0%
Shares held by quarter Peak holding3.4M (Q2'25) Change over 8 quarters+2.2M Share of the company1.230% Acadian Asset Management LLC's full portfolio →

FIL Ltd

3.6M

% of company

1.52%

Change vs last qtr

+1.7M (+87.8%)

Held since

2024

Acadian Asset Management LLC

2.9M

% of company

1.23%

Change vs last qtr

−288.1K (−8.9%)

Held since

2024

28 more super investors behind a free account

See every manager holding Zhihu Inc, how their position has changed, and how long they've held it.

Institutional Funds

Mutual funds and ETFs reporting ZH on Form N-PORT; together they hold 0.6% of the company

Fund	Position value	Shares	% of company	% of the fund	As of
DC Dodge & Cox Emerging Markets Stock Fund Dodge & Cox Funds	$1.52M	486.4K	0.20%	0.10%	June 30, 2026
JI Jacob Internet Fund Jacob Funds Inc.	$704K	255.0K	0.11%	1.65%	August 31, 2026

Dodge & Cox Emerging Markets Stock Fund

Dodge & Cox Funds

Position value

$1.52M

% of company

0.20%

% of the fund

0.10%

As of

June 30, 2026

Jacob Internet Fund

Jacob Funds Inc.

Position value

$704K

% of company

0.11%

% of the fund

1.65%

As of

August 31, 2026

17 more funds behind a free account

See every fund holding Zhihu Inc and how much of the fund the position is.

Insiders and 5%+ holders

From Forms 3/4/5 and Schedules 13D/G

Holder	Shares	% of company	Change vs last qtr	8 quarters	Held since	% of their book
PC Plus Channel Limited 5%+ holder 13D · 10.0%	25.4M	10.59%	—	—	—	—
This holder reports through Schedule 13D/G, not a quarterly 13F. Share of the company10.590% Disclosed stake13D · 10.0% View the 13D/G filing →

Plus Channel Limited

5%+ holder13D · 10.0%

25.4M

% of company

10.59%

Change vs last qtr

—

Held since

—

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