ZHIHU INC
ADS · CUSIP 98955N108
59
institutional holders
+4 vs Q4 2022
78.8m
shares reported held*
$100.1mreported value*
17 new
14 added
17 reduced
13 sold out
net bought ≈ $25.0m (+19.7m shares)
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($3.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $1.27. Options: 5 managers hold calls ($94.7k notional), 4 hold puts ($64.0k).
Trends to Q1 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 46 |
| Q4 2022 | 55 |
| Q1 2023 | 59 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Bought or addedCut or sold out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 34 | 18 |
| Q1 2023 | 31 | 30 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
CallsPuts
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2022 | $51.0k | $54.0k | 1.06 |
| Q4 2022 | $112.7k | $38.7k | 0.34 |
| Q1 2023 | $94.7k | $64.0k | 0.68 |
Biggest buyers
| Point72 Hong Kong Ltd | New | +12.0m |
| GOLDMAN SACHS GROUP INC | Added | +6.0m |
| MATTHEWS INTERNATIONAL CAPITAL MANAGEMENT LLC | Added | +4.2m |
| Point72 Asset Management, L.P. | New | +2.6m |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | New | +1.5m |
| Bridgewater Associates, LP | New | +1.0m |
| BANK OF AMERICA CORP /DE/ | Added | +834.2k |
| OPTIMAS CAPITAL Ltd | New | +709.5k |
| MORGAN STANLEY | Added | +295.8k |
| NOMURA HOLDINGS INC | Added | +281.8k |
Biggest sellers
| BARINGS LLC | Sold out | -1.9m |
| JANE STREET GROUP, LLC | Reduced | -1.4m |
| HRT FINANCIAL LP | Sold out | -1.2m |
| Invesco Ltd. | Sold out | -1.1m |
| Carmignac Gestion | Reduced | -918.7k |
| MARSHALL WACE, LLP | Reduced | -891.9k |
| Yong Rong (HK) Asset Management Ltd | Sold out | -800.0k |
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -437.1k |
| CITADEL ADVISORS LLC | Reduced | -436.1k |
| Legal & General Group Plc | Reduced | -410.3k |
Biggest calls
| SIMPLEX TRADING, LLC | Reduced | $42.0k33.2k shares |
| CITADEL ADVISORS LLC | Reduced | $29.7k23.4k shares |
| WOLVERINE TRADING, LLC | New | $14.0k10.8k shares |
| GROUP ONE TRADING LLC | Added | $9.0k7.1k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| SIMPLEX TRADING, LLC | Added | $45.0k35.8k shares |
| GROUP ONE TRADING LLC | Added | $17.0k13.4k shares |
| CITADEL ADVISORS LLC | Reduced | $2.0k1.6k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Holders, Q1 2023
| Manager | Shares | Change |
|---|---|---|
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 13.6m $17.3m | Added +6.0m |
| Point72 Hong Kong Ltd 3.70% of their portfolio | 12.0m $15.2m | New |
| MATTHEWS INTERNATIONAL CAPITAL MANAGEMENT LLC 1.16% of their portfolio | 9.1m $11.6m | Added +4.2m |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 7.2m $9.1m | Added +834.2k |
| VANGUARD GROUP INC 0.00% of their portfolio | 5.9m $7.5m | Added +225.9k |
| UBS Group AG 0.00% of their portfolio | 5.4m $6.9m | Added +105.7k |
| MORGAN STANLEY 0.00% of their portfolio | 4.7m $5.9m | Added +295.8k |
| Yiheng Capital Management, L.P. 0.36% of their portfolio | 3.6m $4.6m | Unchanged |
| STATE STREET CORP 0.00% of their portfolio | 3.1m $4.0m | Reduced -193.4k |
| Point72 Asset Management, L.P. 0.01% of their portfolio | 2.6m $3.3m | New |
| Carmignac Gestion 0.04% of their portfolio | 2.0m $2.6m | Reduced -918.7k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 2.0m $2.5m | Reduced -1.4m |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.01% of their portfolio | 1.5m $1.9m | New |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 1.2m $1.6m | Reduced -437.1k |
| MARSHALL WACE, LLP 0.00% of their portfolio | 1.1m $1.4m | Reduced -891.9k |
| Bridgewater Associates, LP 0.01% of their portfolio | 1.0m $1.3m | New |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 888.0k $1.1m | Added +153.8k |
| Prescott Group Capital Management, L.L.C. 0.22% of their portfolio | 729.3k $926.0k | Unchanged |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 722.1k $917.1k | Reduced -105.6k |
| OPTIMAS CAPITAL Ltd 0.76% of their portfolio | 709.5k $901.1k | New |
| NOMURA HOLDINGS INC 0.00% of their portfolio | 382.8k $486.2k | Added +281.8k |
| IQ EQ FUND MANAGEMENT (IRELAND) Ltd 0.07% of their portfolio | 307.0k $389.9k | Added +128.4k |
| GSA CAPITAL PARTNERS LLP 0.04% of their portfolio | 306.1k $389.0k | Added +241.0k |
| California Public Employees Retirement System 0.00% of their portfolio | 264.6k $336.1k | Reduced -69.0k |
| Pinpoint Asset Management Ltd 0.07% of their portfolio | 200.0k $254.0k | New |
| Cedar Wealth Management, LLC 0.06% of their portfolio | 119.5k $151.7k | New |
| Cubist Systematic Strategies, LLC 0.00% of their portfolio | 100.5k $127.6k | Reduced -158.0k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 87.0k $110.4k | Reduced -45.0k |
| BlackRock Inc. 0.00% of their portfolio | 68.8k $87.3k | Reduced -69.4k |
| ExodusPoint Capital Management, LP 0.00% of their portfolio | 68.0k $86.0k | Reduced -152.9k |
| GROUP ONE TRADING LLC 0.00% of their portfolio | 49.9k $63.3k | Added +19.0k |
| Robeco Institutional Asset Management B.V. 0.00% of their portfolio | 45.0k $57.1k | Unchanged |
| TWO SIGMA ADVISERS, LP 0.00% of their portfolio | 36.1k $45.8k | Added +25.7k |
| SG Americas Securities, LLC 0.00% of their portfolio | 36.0k $46.0k | New |
| Squarepoint Ops LLC 0.00% of their portfolio | 34.9k $44.3k | Reduced -24.6k |
| Y-Intercept (Hong Kong) Ltd 0.00% of their portfolio | 33.3k $42.3k | New |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio | 32.5k $41.0k | New |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 28.7k $36.5k | Unchanged |
| Virtu Financial LLC 0.00% of their portfolio | 28.5k $36.0k | New |
| Vident Investment Advisory, LLC 0.00% of their portfolio | 27.9k $35.5k | Added +4.7k |
| ACADIAN ASSET MANAGEMENT LLC 0.00% of their portfolio | 24.5k $31.0k | New |
| Focused Wealth Management, Inc 0.01% of their portfolio | 22.0k $27.9k | New |
| Quadrature Capital Ltd 0.00% of their portfolio | 21.6k $27.5k | New |
| CITIGROUP INC 0.00% of their portfolio | 15.3k $19.5k | Reduced -57 |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 14.6k $18.0k | Added +13.0k |
| SIMPLEX TRADING, LLC 0.00% of their portfolio | 12.4k $15.0k | Reduced -2.8k |
| TWO SIGMA SECURITIES, LLC 0.00% of their portfolio | 10.3k $13.1k | New |
| BRIGHTON JONES LLC 0.00% of their portfolio | 10.0k $12.7k | Unchanged |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 7.5k $10.0k | Reduced -6.1k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 5.7k $7.2k | Reduced -436.1k |
| Ridgewood Investments LLC 0.00% of their portfolio | 4.0k $5.1k | New |
| MONTAG A & ASSOCIATES INC 0.00% of their portfolio | 3.9k $5.0k | Unchanged |
| Legal & General Group Plc 0.00% of their portfolio | 3.6k $4.6k | Reduced -410.3k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 2.0k $2.5k | Unchanged |
| Blue Trust, Inc. 0.00% of their portfolio | 970 $2.0k | New |
| TSFG, LLC 0.00% of their portfolio | 700 $1.0k | Unchanged |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 285 $361 | Unchanged |
| Farther Finance Advisors, LLC 0.00% of their portfolio | 50 $64 | Unchanged |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio | 0 $0 | Unchanged |