Thornburg Investment Management’s ZTO Express ZTO Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2017 Q3	–	Sell	-1,661,506	Closed	-$23.2M	–	254
2017 Q2	$23.2M	Sell	1,661,506 -1,137,561	-41%	-$15.9M	0.18%	115
2017 Q1	$36.6M	Sell	2,799,067 -1,830,736	-40%	-$24M	0.3%	73
2016 Q4	$55.9M	Buy	+4,629,803	New	+$55.9M	0.43%	57