ZH
  
  
      
        Zhihu
      
      
    
  62 hedge funds and large institutions have $72.8M invested in Zhihu in 2025 Q2 according to their latest regulatory filings, with 13 funds opening new positions, 15 increasing their positions, 22 reducing their positions, and 8 closing their positions.
New
  Increased
  Maintained
  Reduced
  Closed
  more first-time investments, than exits
New positions opened: | Existing positions closed:
more ownership
Funds ownership: →
more funds holding
Funds holding: →
less capital invested
Capital invested by funds: $ → $
32% less repeat investments, than reductions
Existing positions increased: 15 | Existing positions reduced: 22
89% less call options, than puts
Call options by funds: $255K | Put options by funds: $2.25M
    
      Holders
    
  
  
    
      
        
      
        62
      
    
      
    
  
    
      Holding in Top 10
    
  
  
    
      
        
      
        –
      
    
      
    
  
    
      Calls
    
  
  
    
      
        
      
        $255K
      
    
      
    
  
    
      Puts
    
  
  
    
      
        
      
        $2.25M
      
    
      
    
  
Top Buyers
| 1 | +$1.89M | |
| 2 | +$527K | |
| 3 | +$328K | |
| 4 | 
    EFM
   
      E Fund Management
     
      
        Guangzhou,
      
      
        China
      
     | +$328K | 
| 5 | 
      Mackenzie Financial
     
      
        Toronto Ontario,
      
      
        Ontario, Canada
      
     | +$275K | 
Top Sellers
| 1 | -$4.1M | |
| 2 | -$3.9M | |
| 3 | -$1.36M | |
| 4 | 
    MAMHA
   
      MY.Alpha Management HK Advisors
     
      
      
        Hong Kong
      
     | -$1.31M | 
| 5 |   
      Group One Trading
     
      
        Chicago,
      
      
        Illinois
      
     | -$1.31M | 
 
 
