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ZH

Zhihu
ZH

61 hedge funds and large institutions have $354M invested in Zhihu in 2021 Q4 according to their latest regulatory filings, with 20 funds opening new positions, 21 increasing their positions, 16 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

54% more first-time investments, than exits

New positions opened: 20 | Existing positions closed: 13

31% more repeat investments, than reductions

Existing positions increased: 21 | Existing positions reduced: 16

13% more funds holding

Funds holding: 54 → 61 (+7)

0.47% more ownership

Funds ownership: 3.59% → 4.06% (+0.47%)

0% more funds holding in top 10

Funds holding in top 10: 4 → 4 (0)

31% less capital invested

Capital invested by funds: $515M → $354M (-$161M)

82% less call options, than puts

Call options by funds: $2.8M | Put options by funds: $15.7M

Holders
61
Holders Change
+7
Holders Change %
+12.96%
% of All Funds
0.94%
Holding in Top 10
4
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.06%
New
20
Increased
21
Reduced
16
Closed
13
Calls
$2.8M
Puts
$15.7M
Net Calls
-$12.9M
Net Calls Change
-$14.3M

Top Buyers

1
YCM
Yiheng Capital Management
California
+$29M
2
FC
Franchise Capital
Cayman Islands
+$28.8M
3
KFA
Krane Funds Advisors
New York
+$24.5M
4
EFM
E Fund Management
China
+$8.44M
5
Group One Trading
Group One Trading
Illinois
+$7.44M

Top Sellers

1
LSCM
Light Street Capital Management
California
-$35M
2
BlackRock
BlackRock
New York
-$22.1M
3
Morgan Stanley
Morgan Stanley
New York
-$8.26M
4
JCAM
Jericho Capital Asset Management
New York
-$7.15M
5
CPIM
Coalescence Partners Investment Management
New York
-$6.68M
Name Holding Trade Value Shares
Change 		Change in
Stake
AIM
1
Anatole Investment Management
Hong Kong
$77.3M +$240K +5,024 +0.2%
KFA
2
Krane Funds Advisors
New York
$66.4M +$24.5M +514,521 +35%
FC
3
Franchise Capital
Cayman Islands
$39.7M +$28.8M +603,679 +102%
YCM
4
Yiheng Capital Management
California
$20.2M +$29M +607,370 New
LCG
5
Luxor Capital Group
New York
$17.4M -$1.91M -40,144 -7%
B
6
Barings
North Carolina
$16.2M -$191K -4,015 -0.8%
SCH
7
Sylebra Capital (HK)
Hong Kong
$14.8M -$3.39M -71,023 -14%
EFM
8
E Fund Management
China
$13.2M +$8.44M +177,061 +81%
Vanguard Group
9
Vanguard Group
Pennsylvania
$9.92M +$1.49M +31,266 +12%
CTEF
10
Capital Today Evergreen Fund
Cayman Islands
$9.75M +$14M +293,333 New
Goldman Sachs
11
Goldman Sachs
New York
$7.53M +$4.03M +84,532 +59%
Group One Trading
12
Group One Trading
Illinois
$5.43M +$7.44M +156,096 +2,117%
Balyasny Asset Management
13
Balyasny Asset Management
Illinois
$4.45M +$1.77M +37,020 +38%
D.E. Shaw & Co
14
D.E. Shaw & Co
New York
$4.27M +$5.05M +105,894 +471%
CPIM
15
Coalescence Partners Investment Management
New York
$4.13M -$6.68M -140,167 -93%
Arrowstreet Capital
16
Arrowstreet Capital
Massachusetts
$4.05M +$5.81M +121,769 New
Susquehanna International Group
17
Susquehanna International Group
Pennsylvania
$3.38M +$2.47M +51,835 +104%
Two Sigma Investments
18
Two Sigma Investments
New York
$3.34M +$4.79M +100,447 New
State Street
19
State Street
Massachusetts
$3.3M +$3.38M +70,793 +249%
Millennium Management
20
Millennium Management
New York
$2.75M -$5.58M -117,033 -59%
Invesco
21
Invesco
Georgia
$2.64M -$13.8K -289 -0.4%
Voloridge Investment Management
22
Voloridge Investment Management
Florida
$2.55M +$3.04M +63,842 +501%
Citadel Advisors
23
Citadel Advisors
Florida
$2.51M +$275K +5,775 +8%
PCM
24
Penserra Capital Management
California
$2.14M -$2.01M -42,152 -40%
OCM
25
Octahedron Capital Management
California
$2.08M +$2.98M +62,500 New
1
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ZH Hedge Fund Activity: Q4 2021 in Review

61 of the 6,498 institutional investors tracked by Wall St. Rank reported a position in Zhihu (ZH) for Q4 2021, worth a combined $354M — down 31% from $515M a quarter earlier.

Buyers outnumbered sellers: 20 funds opened new ZH positions and 13 closed out — a net gain of 7 holders — while 21 added to existing stakes and 16 trimmed.

The largest buyer was Yiheng Capital Management, opening a new position worth an estimated $29M. The largest seller was Light Street Capital Management, exiting entirely with an estimated $35M sold.

  • 61 institutional investors held Zhihu (ZH) as of Q4 2021, up from 54 in Q3 2021.
  • Funds reported $354M of Zhihu stock for Q4 2021, down 31% quarter-over-quarter.
  • 20 funds opened new Zhihu positions in Q4 2021 and 13 closed out, a net change of +7 holders.
  • The largest Zhihu buyer in Q4 2021 was Yiheng Capital Management, an estimated $29M added.
  • The largest Zhihu seller in Q4 2021 was Light Street Capital Management, an estimated $35M sold.

Based on aggregated 13F filings for Q4 2021.