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Zhihu Inc.

Institutional holders · 13F as of Dec 31, 2025

Holder	Value ↓	Shares	% of shares
FIL Limited	$6.36M	1,952,393	3.32%
VANGUARD GROUP INC	$5.92M	1,803,704	3.07%
E Fund Management (Hong Kong) Co., Ltd.	$1.85M	518,652	0.88%
Maven Securities LTD	$1.53M	466,008	0.79%
STATE STREET CORPORATION	$1.47M	469,155	0.80%
UBS Group AG	$1.43M	436,334	0.74%
Morgan Stanley	$1.36M	415,396	0.71%
Dodge & Cox	$1.05M	319,164	0.54%
Norges Bank	$802.4K	244,633	0.42%
Oasis Management Co Ltd.	$639.0K	225,000	0.38%
Barclays PLC	$511.3K	132,800	0.23%
THE GOLDMAN SACHS GROUP, INC.	$494.6K	150,806	0.26%
Arrowstreet Capital, Limited Partnership	$426.2K	150,086	0.26%
JPMORGAN CHASE & CO	$411.3K	125,387	0.21%
COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS	$399.1K	140,523	0.24%
JANE STREET GROUP, LLC	$359.1K	109,469	0.19%
BNP PARIBAS FINANCIAL MARKETS	$337.6K	118,856	0.20%
Millennium Management LLC	$321.5K	113,200	0.19%
XTX Topco Ltd	$286.5K	87,356	0.15%
AMERICAN CENTURY COMPANIES INC	$270.7K	82,517	0.14%
CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM	$236.6K	72,139	0.12%
Qube Research & Technologies Ltd	$215.8K	65,802	0.11%
AMERIPRISE FINANCIAL INC	$208.0K	63,401	0.11%
SEI INVESTMENTS CO	$189.0K	57,617	0.10%
NEW YORK STATE COMMON RETIREMENT FUND	$171.0K	52,144	0.09%
Diversified Trust Co	$144.9K	44,184	0.08%
CITIGROUP INC	$116.3K	35,459	0.06%
Invesco Ltd.	$102.4K	31,234	0.05%
NOMURA HOLDINGS INC	$98.2K	34,564	0.06%
HSBC HOLDINGS PLC	$69.0K	21,033	0.04%
Russell Investments Group, Ltd.	$60.8K	18,420	0.03%
Point72 Asset Management, L.P.	$58.6K	17,877	0.03%
MARSHALL WACE, LLP	$54.4K	19,152	0.03%
TWO SIGMA ADVISERS, LP	$51.3K	15,651	0.03%
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$50.0K	15,240	0.03%
Campbell & CO Investment Adviser LLC	$42.1K	12,839	0.02%
TWO SIGMA INVESTMENTS, LP	$40.8K	14,368	0.02%
SIMPLEX TRADING, LLC	$35.2K	10,728	0.02%
ACADIAN ASSET MANAGEMENT LLC	$10.5K	3,212,733	5.46%
PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO	$9.6K	3,385	0.01%
Oakum Bay Capital LLC	$8.0K	2,426	0.00%
Cedar Wealth Management, LLC	$6.4K	1,954	0.00%
RHUMBLINE ADVISERS	$5.2K	1,842	0.00%
Bell Investment Advisors, Inc	$1.4K	416	0.00%
Tower Research Capital LLC (TRC)	$1.1K	347	0.00%
The PNC Financial Services Group, Inc.	$451	144	0.00%
SBI Securities Co., Ltd.	$344	105	0.00%
GSA CAPITAL PARTNERS LLP	$147	44,878	0.08%
BANK OF AMERICA CORP /DE	$7	2	0.00%
BlackRock, Inc.	$6	2	0.00%