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ZTO Express
ZTO

170 hedge funds and large institutions have $1.29B invested in ZTO Express in 2025 Q3 according to their latest regulatory filings, with 27 funds opening new positions, 65 increasing their positions, 49 reducing their positions, and 37 closing their positions.

New
Increased
Maintained
Reduced
Closed

593% more call options, than puts

Call options by funds: $175M | Put options by funds: $25.2M

33% more repeat investments, than reductions

Existing positions increased: 65 | Existing positions reduced: 49

3.14% less ownership

Funds ownership: 14.34% → 11.21% (-3.1%)

7% less funds holding

Funds holding: 182 → 170 (-12)

15% less capital invested

Capital invested by funds: $1.52B → $1.29B (-$236M)

25% less funds holding in top 10

Funds holding in top 10: 4 → 3 (-1)

27% less first-time investments, than exits

New positions opened: 27 | Existing positions closed: 37

Holders
170
Holders Change
-12
Holders Change %
-6.59%
% of All Funds
2.23%
Holding in Top 10
3
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-25%
% of All Funds
0.04%
New
27
Increased
65
Reduced
49
Closed
37
Calls
$175M
Puts
$25.2M
Net Calls
+$149M
Net Calls Change
+$38.4M

Top Buyers

1
Morgan Stanley
Morgan Stanley
New York
+$33.3M
2
Goldman Sachs
Goldman Sachs
New York
+$27.4M
3
CLGM
Capitolis Liquid Global Markets
New York
+$25.6M
4
CGH
Crossmark Global Holdings
Texas
+$11.3M
5
Pzena Investment Management
Pzena Investment Management
New York
+$7.2M

Top Sellers

1
HL
Harding Loevner
New Jersey
-$219M
2
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
-$59.2M
3
UBS Group
UBS Group
Switzerland
-$53.9M
4
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Ontario, Canada
-$30.4M
5
Canada Pension Plan Investment Board
Canada Pension Plan Investment Board
Ontario, Canada
-$12.5M
Name Holding Trade Value Shares
Change 		Change in
Stake
QCG
51
Quadrant Capital Group
Ohio
$2.1M +$1.49M +77,640 +245%
Mariner
52
Mariner
Kansas
$1.98M -$311K -16,252 -14%
D.E. Shaw & Co
53
D.E. Shaw & Co
New York
$1.74M +$1.74M +90,683 New
UOC
54
UBS O'Connor
Illinois
$1.65M +$1.64M +85,872 New
MNA
55
Manning & Napier Advisors
New York
$1.62M -$146K -7,629 -8%
OAM
56
Oppenheimer Asset Management
New York
$1.58M -$35.7K -1,863 -2%
Bank of Montreal
57
Bank of Montreal
Ontario, Canada
$1.55M -$72.9K -3,809 -4%
Macquarie Group
58
Macquarie Group
Australia
$1.54M +$817K +42,650 +105%
US Bancorp
59
US Bancorp
Minnesota
$1.54M -$86K -4,490 -5%
Fifth Third Bancorp
60
Fifth Third Bancorp
Ohio
$1.34M -$60.5K -3,161 -4%
Simplex Trading
61
Simplex Trading
Illinois
$1.21M +$1.21M +63,018 New
PA
62
Profund Advisors
Maryland
$1.2M +$223K +11,632 +23%
Natixis Advisors
63
Natixis Advisors
Massachusetts
$1.19M +$208K +10,857 +21%
Susquehanna International Group
64
Susquehanna International Group
Pennsylvania
$1.1M +$1.1M +57,445 New
Qube Research & Technologies (QRT)
65
Qube Research & Technologies (QRT)
United Kingdom
$1.1M -$7.36M -384,399 -87%
PCMH
66
Polymer Capital Management (HK)
Hong Kong
$1.09M +$565K +29,488 +109%
VA
67
Vident Advisory
Georgia
$1.04M +$363K +18,968 +54%
Neuberger Berman Group
68
Neuberger Berman Group
New York
$1.03M -$75.5K -3,943 -7%
TAMH
69
Taikang Asset Management (HK)
Hong Kong
$943K – – –
CM
70
Caption Management
Oklahoma
$938K +$935K +48,851 New
DC
71
Davenport & Co
Virginia
$897K -$4.96K -259 -0.6%
Barclays
72
Barclays
United Kingdom
$885K +$239K +12,477 +37%
GC
73
Guggenheim Capital
Illinois
$742K +$326K +17,041 +79%
HCS
74
Himension Capital (Singapore)
Singapore
$713K -$131K -6,823 -16%
DnB Asset Management
75
DnB Asset Management
Norway
$658K – – –
1 2
3
4 5

ZTO Hedge Fund Activity: Q3 2025 in Review

170 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in ZTO Express (ZTO) for Q3 2025, worth a combined $1.29B — down 15% from $1.52B a quarter earlier.

Sellers outnumbered buyers: 37 funds closed out of ZTO and 27 opened new positions — a net loss of 10 holders — while 49 trimmed existing stakes and 65 added.

The largest buyer was Morgan Stanley, adding an estimated $33.3M. The largest seller was Harding Loevner, cutting an estimated $219M.

  • 170 institutional investors held ZTO Express (ZTO) as of Q3 2025, down from 182 in Q2 2025.
  • Funds reported $1.29B of ZTO Express stock for Q3 2025, down 15% quarter-over-quarter.
  • 27 funds opened new ZTO Express positions in Q3 2025 and 37 closed out, a net change of -10 holders.
  • The largest ZTO Express buyer in Q3 2025 was Morgan Stanley, an estimated $33.3M added.
  • The largest ZTO Express seller in Q3 2025 was Harding Loevner, an estimated $219M sold.

Based on aggregated 13F filings for Q3 2025.