Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Zhihu Inc (ZH)

46 + Investors. Track Smart Money conviction in ZH. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -1
Streak
4Q ▼
Buyers last Q
41%

Smart Money Signals — ZH

Based on 46 hedge funds · latest filing: 2026 Q2 · updated quarterly

📉

Selling streak — 4 quarters in a row

last 6Q
For 4 consecutive quarters, more hedge funds reduced or closed their ZH positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 77% of 3.0Y peak

77% of all-time peak
46 funds currently hold this stock — 77% of the 3.0-year high of 60 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 23% fewer funds vs a year ago

fund count last 6Q
14 fewer hedge funds hold ZH compared to a year ago (-23% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠

More sellers than buyers — 41% buying

18 buying26 selling
Last quarter: 26 funds reduced or exited vs 18 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️

Steady new buyers — ~6 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 8 → 7 → 7 → 6. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌

Mixed — 28% long-term, 17% new

■ 28% conviction (2yr+) ■ 54% medium ■ 17% new
Of the 46 current holders: 13 (28%) held >2 years, 25 held 1–2 years, and 8 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
➡️

Steady discovery — ~6 new funds/quarter

14 → 8 → 7 → 7 → 6 new funds/Q
New funds entering each quarter: 8 → 7 → 7 → 6. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊

Mixed cohorts — 4% veterans, 30% new entrants

■ 4% veterans ■ 66% 1-2yr ■ 30% new
Of 47 current holders: 2 (4%) held 2+ years, 31 held 1–2 years, 14 (30%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆

Elite ownership — 68% AUM from top-100 funds

68% from top-100 AUM funds
22 of 46 holders are among the 100 largest funds by AUM, controlling 68% of total institutional value in ZH. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
2.7
out of 10
Low Exit Risk
Exit risk score 2.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — ZH

In 2026 Q2, 18 hedge funds were net buyers of ZH (6 opened a new position, 12 added to an existing one), while 26 reduced or exited (19 trimmed, 7 sold completely) — a 41% buyer ratio, indicating roughly balanced activity. This extends a 4-quarter selling streak, suggesting sustained institutional caution. 68% of total institutional value in ZH is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: -1 funds (more exits than new entries). Total institutional holders: 46.

Hedge Fund Ownership: ZH

How many hedge funds hold ZH — quarterly history vs. share price
Quarterly hedge fund ownership of ZH vs. share price

Market Analysis: ZH

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: ZH

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Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Loading signal freshness…
Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

1 top-rated funds 0 high-conviction
Consensus
1.3
/ 10
breadth
×
Elite
0.1
/ 10
conviction
Hedge Fund Positioning: ZH
46 + Investors

Track Smart Money conviction in ZH. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 46 47 -2.13%
13F Shares 13M 14M -5.34%
Total Value $32M $32M -0.66%
New Positions 6 7 -1
Increased Positions 12 20 -8
Closed Positions 7 10 -3
Reduced Positions 18 12 +6
Total Calls 1 1 -
Total Puts 0 1 -100.0%
PUT/CALL Ratio 0.0 1.0 Bullish

Statistics: ZH

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Valuation Measures Data as of: --

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PEG Ratio (5yr expected) --
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Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q2)

46 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in ZH. Verified SEC 13F-HR filings.

QUARTER:
Top 25 ZH holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 E Fund Management (Hong Kong) Co., Ltd. 0.53% 508,019 $1.6M
2 Ramsey Quantitative Systems 0.15% 53,846 $169K
3 First Beijing Investment Ltd 0.07% 551,048 $1.7M
4 Oasis Management Co Ltd. 0.04% 225,000 $704K
5 E Fund Management Co., Ltd. 0.04% 508,019 $1.6M
6 Maven Securities LTD 0.02% 400,387 $1.3M
7 Harvest Fund Management Co., Ltd 0.02% 210,000 $659K
8 FIL Ltd 0.01% 3,639,387 $11.5M
9 Jump Financial, LLC 0.01% 100,875 $431K
10 XTX Topco Ltd 0.01% 133,210 $417K
11 Diversified Trust Co 0.00% 44,184 $138K
12 Dodge & Cox 0.00% 501,092 $1.6M
13 Police & Firemen's Retirement System of New Jersey 0.00% 15,762 $49K
14 Sei Investments Co 0.00% 103,607 $324K
15 New York State Common Retirement Fund 0.00% 68,640 $215K
16 Russell Investments Group, Ltd. 0.00% 95,933 $300K
17 Tower Research Capital LLC (TRC) 0.00% 3,188 $10K
18 Arrowstreet Capital, Limited Partnership 0.00% 168,256 $527K
19 Two Sigma Investments, LP 0.00% 99,458 $311K
20 UBS Group AG 0.00% 454,892 $1.4M
21 Goldman Sachs Group Inc 0.00% 577,573 $1.8M
22 Qube Research & Technologies Ltd 0.00% 44,716 $140K
23 American Century Companies Inc 0.00% 83,097 $260K
24 BNP Paribas Financial Markets 0.00% 95,875 $300K
25 Nomura Holdings Inc 0.00% 27,764 $87K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Zhihu Inc (ZH)

What does the Smart Money Trend signal show for ZH?

Selling streak — 4 quarters in a row: For 4 consecutive quarters, more hedge funds reduced or closed their ZH positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for ZH?

More sellers than buyers — 41% buying: Last quarter: 26 funds reduced or exited vs 18 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for ZH holders?

Elite ownership — 68% AUM from top-100 funds: 22 of 46 holders are among the 100 largest funds by AUM, controlling 68% of total institutional value in ZH. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held ZH?

Mixed — 28% long-term, 17% new: Of the 46 current holders: 13 (28%) held >2 years, 25 held 1–2 years, and 8 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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