Caption Management’s ZTO Express ZTO Stock Holding History

Caption Management’s Portfolio ZTO Stock Details ZTO Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2024 Q2	–	Sell	-240,000	Closed	-$5.03M	–	1566
2024 Q1	$5.03M	Buy	240,000 +190,000	+380%	+$3.64M	0.08%	295
2023 Q4	$1.06M	Buy	+50,000	New	+$1.14M	0.01%	790
2021 Q1	–	Sell	-160,000	Closed	-$4.67M	–	1446
2020 Q4	$4.67M	Buy	+160,000	New	+$4.7M	0.11%	242

Other funds holding ZTO

Pzena Investment Management New York $30.8B AUM 11.29% 1-Year Est. Return

Temasek Holdings Singapore $30.5B AUM 13.98% 1-Year Est. Return

Goldman Sachs New York $871B AUM 31.28% 1-Year Est. Return

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

SCMS

Serenity Capital Management (Singapore) Singapore $414M AUM 16.41% 1-Year Est. Return

Fisher Asset Management Camas, Washington $295B AUM 31.6% 1-Year Est. Return

UBS Group Zurich, Switzerland $666B AUM 30.12% 1-Year Est. Return

PIM

Platinum Investment Management Sydney Australia 2000, Australia $397M AUM 63.96% 1-Year Est. Return

Citigroup New York $235B AUM 32.99% 1-Year Est. Return

TAM

Todd Asset Management Louisville, Kentucky $5.11B AUM 34.73% 1-Year Est. Return

Caption Management's ZTO Position: Q4 2025 in Review

Caption Management sold out of ZTO Express (ZTO) in Q4 2025, closing a stake of 48,851 shares — an estimated $938K sold.

Caption Management first reported a position in ZTO in Q4 2020 and held it in 5 quarters. The position peaked at $2.58M in Q4 2020. 161 funds tracked by Wall St. Rank hold ZTO as of Q4 2025.

Caption Management reported no remaining ZTO Express position as of Q4 2025 after selling out during the quarter.
Caption Management sold 48,851 ZTO Express shares in Q4 2025, an estimated $938K.
Caption Management first reported a position in ZTO Express in Q4 2020 and held it in 5 quarters.
Caption Management's ZTO Express position peaked at $2.58M in Q4 2020.
161 funds tracked by Wall St. Rank held ZTO Express as of Q4 2025.

Based on Caption Management's 13F filing for Q4 2025, filed 17 Feb 2026.