Who owns ZH
Which tracked institutional funds hold ZH, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See ZH company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-09-22). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
3 tracked funds added or opened ZH while 7 trimmed or exited it between 2026-Q1 and 2026-Q2 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
ZH’s largest tracked holder by dollar value, FIL Ltd, sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.0pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in ZH divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 41 tracked filers holding ZH, 13 increased or opened the position and 28 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in ZH between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
Full exits 2
- ACADIAN ASSET MANAGEMENT LLC$9M
- NORGES BANK$6M
Largest adds
- FIL Ltd$6M
- GOLDMAN SACHS GROUP INC$405K
- TWO SIGMA INVESTMENTS, LP$270K
Largest trims
- Qube Research & Technologies Ltd$566K
- JANE STREET GROUP, LLC$399K
- E Fund Management (Hong Kong) Co., Ltd.$298K
- E Fund Management Co., Ltd.$298K
- STATE STREET CORP$267K
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| FIL Ltd added | 3,639,387 | $11M | 16.1% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC added | 577,573 | $2M | 2.5% | 2026-Q2 |
| First Beijing Investment Ltd | 551,048 | $2M | 2.4% | 2026-Q2 |
| E Fund Management (Hong Kong) Co., Ltd. trimmed | 508,019 | $2M | 2.2% | 2026-Q2 |
| E Fund Management Co., Ltd. trimmed | 508,019 | $2M | 2.2% | 2026-Q2 |
| DODGE & COX added | 501,092 | $2M | 2.2% | 2026-Q2 |
| STATE STREET CORP trimmed | 469,155 | $1M | 2.1% | 2026-Q2 |
| UBS Group AG added | 454,892 | $1M | 2.0% | 2026-Q2 |
| Maven Securities LTD trimmed | 400,387 | $1M | 1.8% | 2026-Q2 |
| MORGAN STANLEY trimmed | 232,938 | $729K | 1.0% | 2026-Q2 |
| Oasis Management Co Ltd. | 225,000 | $704K | 1.0% | 2026-Q2 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added | 168,256 | $527K | 0.7% | 2026-Q2 |
| JANE STREET GROUP, LLC trimmed | 148,150 | $464K | 0.7% | 2026-Q2 |
| XTX Topco Ltd trimmed | 133,210 | $417K | 0.6% | 2026-Q2 |
| CITADEL ADVISORS LLC added | 111,816 | $350K | 0.5% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 104,565 | $327K | 0.5% | 2026-Q2 |
| SEI INVESTMENTS CO trimmed | 103,607 | $324K | 0.5% | 2026-Q2 |
| TWO SIGMA INVESTMENTS, LP added | 99,458 | $311K | 0.4% | 2026-Q2 |
| Russell Investments Group, Ltd. | 95,933 | $300K | 0.4% | 2026-Q2 |
| BNP PARIBAS FINANCIAL MARKETS trimmed | 95,875 | $300K | 0.4% | 2026-Q2 |
| AMERICAN CENTURY COMPANIES INC | 83,097 | $260K | 0.4% | 2026-Q2 |
| NEW YORK STATE COMMON RETIREMENT FUND | 68,640 | $215K | 0.3% | 2026-Q2 |
| MILLENNIUM MANAGEMENT LLC trimmed | 64,869 | $203K | 0.3% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC trimmed | 63,291 | $198K | 0.3% | 2026-Q2 |
| RAMSEY QUANTITATIVE SYSTEMS new | 53,846 | $169K | 0.2% | 2026-Q2 |
| Qube Research & Technologies Ltd trimmed | 44,716 | $140K | 0.2% | 2026-Q2 |
| DIVERSIFIED TRUST CO | 44,184 | $138K | 0.2% | 2026-Q2 |
| MARSHALL WACE, LLP added | 35,750 | $112K | 0.2% | 2026-Q2 |
| NOMURA HOLDINGS INC trimmed | 27,764 | $87K | 0.1% | 2026-Q2 |
| Invesco Ltd. trimmed | 26,688 | $84K | 0.1% | 2026-Q2 |
| Police & Firemen's Retirement System of New Jersey | 15,762 | $49K | 0.1% | 2026-Q2 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 11,669 | $37K | 0.1% | 2026-Q2 |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | 3,385 | $11K | 0.0% | 2026-Q2 |
| Tower Research Capital LLC (TRC) added | 3,188 | $10K | 0.0% | 2026-Q2 |
| RHUMBLINE ADVISERS trimmed | 1,727 | $5K | 0.0% | 2026-Q2 |
| ROYAL BANK OF CANADA added | 843 | $3K | 0.0% | 2026-Q2 |
| CITIGROUP INC trimmed | 428 | $1K | 0.0% | 2026-Q2 |
| PNC Financial Services Group, Inc. added | 144 | $451 | 0.0% | 2026-Q2 |
| SBI Securities Co., Ltd. | 105 | $329 | 0.0% | 2026-Q2 |
| Caitong International Asset Management Co., Ltd added | 15 | $47 | 0.0% | 2026-Q2 |
| SIMPLEX TRADING, LLC trimmed | 7 | $21 | 0.0% | 2026-Q2 |
| ACADIAN ASSET MANAGEMENT LLC added | 3,234,695 | $9M | 12.9% | 2026-Q1 stale (1 quarter behind) |
| NORGES BANK added | 1,518,027 | $6M | 9.1% | 2026-Q1 stale (1 quarter behind) |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS | 140,523 | $399K | 0.6% | 2026-Q1 stale (1 quarter behind) |
| Point72 Asset Management, L.P. added | 136,831 | $389K | 0.5% | 2026-Q1 stale (1 quarter behind) |
| HRT FINANCIAL LP new | 24,144 | $68K | 0.1% | 2026-Q1 stale (1 quarter behind) |
| Oakum Bay Capital LLC | 2,426 | $7K | 0.0% | 2026-Q1 stale (1 quarter behind) |
| OSAIC HOLDINGS, INC. new | 50 | $142 | 0.0% | 2026-Q1 stale (1 quarter behind) |
| BlackRock, Inc. trimmed | 2 | $6 | 0.0% | 2026-Q1 stale (1 quarter behind) |
| TSFG, LLC | 116 | — | 0.0% | 2026-Q1 stale (1 quarter behind) |
| MATTHEWS INTERNATIONAL CAPITAL MANAGEMENT LLC trimmed | 2,371,187 | $8M | 10.9% | 2025-Q4 stale (2 quarters behind) |
| VANGUARD GROUP INC trimmed | 1,803,704 | $6M | 8.3% | 2025-Q4 stale (2 quarters behind) |
| California Public Employees Retirement System trimmed | 72,139 | $237K | 0.3% | 2025-Q4 stale (2 quarters behind) |
| GSA CAPITAL PARTNERS LLP trimmed | 44,878 | $147K | 0.2% | 2025-Q4 stale (2 quarters behind) |
| HSBC HOLDINGS PLC trimmed | 21,033 | $69K | 0.1% | 2025-Q4 stale (2 quarters behind) |
| TWO SIGMA ADVISERS, LP trimmed | 15,651 | $51K | 0.1% | 2025-Q4 stale (2 quarters behind) |
| Campbell & CO Investment Adviser LLC trimmed | 12,839 | $42K | 0.1% | 2025-Q4 stale (2 quarters behind) |
| Cedar Wealth Management, LLC trimmed | 1,954 | $6K | 0.0% | 2025-Q4 stale (2 quarters behind) |
| Bell Investment Advisors, Inc | 416 | $1K | 0.0% | 2025-Q4 stale (2 quarters behind) |
| BANK OF AMERICA CORP /DE/ trimmed | 2 | $7 | 0.0% | 2025-Q4 stale (2 quarters behind) |
| BESSEMER GROUP INC | 71 | — | 0.0% | 2025-Q4 stale (2 quarters behind) |
| Capitolis Liquid Global Markets LLC new | 148,500 | $753K | 1.1% | 2025-Q3 stale (3 quarters behind) |
| BARCLAYS PLC added | 132,800 | $511K | 0.7% | 2025-Q3 stale (3 quarters behind) |
| RENAISSANCE TECHNOLOGIES LLC | 86,288 | $437K | 0.6% | 2025-Q3 stale (3 quarters behind) |
| NATIONAL BANK OF CANADA /FI/ trimmed | 84,400 | $428K | 0.6% | 2025-Q3 stale (3 quarters behind) |
| Empirical Financial Services, LLC d.b.a. Empirical Wealth Management added | 79,558 | $403K | 0.6% | 2025-Q3 stale (3 quarters behind) |
| GROUP ONE TRADING LLC trimmed | 55,344 | $281K | 0.4% | 2025-Q3 stale (3 quarters behind) |
| Cubist Systematic Strategies, LLC trimmed | 47,808 | $242K | 0.3% | 2025-Q3 stale (3 quarters behind) |
| Point72 Asia (Singapore) Pte. Ltd. trimmed | 3,887 | $20K | 0.0% | 2025-Q3 stale (3 quarters behind) |
| Legal & General Group Plc | 606 | $3K | 0.0% | 2025-Q3 stale (3 quarters behind) |
| EverSource Wealth Advisors, LLC | 257 | $1K | 0.0% | 2025-Q3 stale (3 quarters behind) |
| MY.Alpha Management HK Advisors Ltd trimmed | 1,363,455 | $5M | 7.6% | 2025-Q2 stale (4 quarters behind) |
| Walleye Capital LLC added | 128,549 | $512K | 0.7% | 2025-Q2 stale (4 quarters behind) |
| DYMON ASIA CAPITAL (SINGAPORE) PTE. LTD. | 82,700 | $329K | 0.5% | 2025-Q2 stale (4 quarters behind) |
| MACKENZIE FINANCIAL CORP new | 69,095 | $275K | 0.4% | 2025-Q2 stale (4 quarters behind) |
| Y-Intercept (Hong Kong) Ltd new | 42,431 | $169K | 0.2% | 2025-Q2 stale (4 quarters behind) |
| Quadrature Capital Ltd new | 21,108 | $84K | 0.1% | 2025-Q2 stale (4 quarters behind) |
| WOLVERINE TRADING, LLC trimmed | 11,057 | $43K | 0.1% | 2025-Q2 stale (4 quarters behind) |
| Point72 (DIFC) Ltd new | 1,900 | $8K | 0.0% | 2025-Q2 stale (4 quarters behind) |
| Ridgewood Investments LLC | 666 | $3K | 0.0% | 2025-Q2 stale (4 quarters behind) |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | 0 | — | 0.0% | 2025-Q2 stale (4 quarters behind) |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.