FULL TRUCK ALLIANCE CO LTD YMM
SPONSORED ADS · ADR · CUSIP 35969L108 · ISIN US35969L1089
- SectorTechnology
- IndustryServices-Prepackaged Software
- FilingsSEC EDGAR
* 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 ($22.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $12.83. Options: 13 managers hold calls ($37.4m notional), 12 hold puts ($46.1m).
Trends to Q1 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 105 |
| Q4 2022 | 127 |
| Q1 2023 | 134 |
| Q2 2023 | 119 |
| Q3 2023 | 122 |
| Q4 2023 | 150 |
| Q1 2024 | 148 |
| Q2 2024 | 178 |
| Q3 2024 | 171 |
| Q4 2024 | 196 |
| Q1 2025 | 249 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2023 | 53 | 71 |
| Q3 2023 | 58 | 62 |
| Q4 2023 | 76 | 59 |
| Q1 2024 | 82 | 70 |
| Q2 2024 | 103 | 68 |
| Q3 2024 | 86 | 93 |
| Q4 2024 | 100 | 92 |
| Q1 2025 | 158 | 74 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $77.4m | $6.9m | 0.09 |
| Q3 2024 | $63.5m | $4.6m | 0.07 |
| Q4 2024 | $73.8m | $16.4m | 0.22 |
| Q1 2025 | $37.4m | $46.1m | 1.23 |
Biggest buyers
| FMR LLC | Added | +28.0m |
| Kontiki Capital Management (HK) Ltd. | New | +6.4m |
| Krane Funds Advisors LLC | Added | +4.9m |
| APG Asset Management N.V. | New | +4.8m |
| SANDS CAPITAL MANAGEMENT, LLC | Added | +4.1m |
| MILLENNIUM MANAGEMENT LLC | Added | +2.5m |
| Davis Selected Advisers | Added | +2.4m |
| KEYSTONE INVESTORS PTE LTD | Added | +2.4m |
| Mitsubishi UFJ Trust & Banking Corp | New | +2.3m |
| FIL Ltd | Added | +2.1m |
Biggest sellers
| SB INVESTMENT ADVISERS (UK) LTD | Reduced | -19.0m |
| MORGAN STANLEY | Reduced | -11.9m |
| FARALLON CAPITAL MANAGEMENT, L.L.C. | Reduced | -9.2m |
| JPMORGAN CHASE & CO | Reduced | -3.6m |
| HSG Holding Ltd | Sold out | -2.7m |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Reduced | -2.7m |
| SYLEBRA CAPITAL LLC | Reduced | -2.4m |
| BANK OF AMERICA CORP /DE/ | Reduced | -2.4m |
| First Beijing Investment Ltd | Reduced | -1.5m |
| WFM ASIA (BVI) Ltd | Reduced | -1.5m |
Biggest calls
| UBS Group AG | Unchanged | $13.3m1.0m shares |
| BARCLAYS PLC | New | $6.4m500.0k shares |
| JANE STREET GROUP, LLC | Reduced | $5.0m391.6k shares |
| GROUP ONE TRADING LLC | Reduced | $4.6m362.8k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $3.0m233.9k shares |
| PEAK6 LLC | Reduced | $1.6m125.2k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $1.5m120.0k shares |
| SIMPLEX TRADING, LLC | Added | $1.5m114.6k shares |
| WOLVERINE TRADING, LLC | New | $292.8k22.7k shares |
| CITADEL ADVISORS LLC | Reduced | $137.9k10.8k shares |
Biggest puts
| JANE STREET GROUP, LLC | New | $21.7m1.7m shares |
| PEAK6 LLC | New | $5.2m410.1k shares |
| GROUP ONE TRADING LLC | Added | $5.1m399.9k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $4.3m333.6k shares |
| SIMPLEX TRADING, LLC | Added | $4.0m316.0k shares |
| CITADEL ADVISORS LLC | Added | $2.1m167.2k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $1.5m120.0k shares |
| Walleye Capital LLC | Added | $1.5m119.8k shares |
| IMC-Chicago, LLC | New | $335.9k26.3k shares |
| WOLVERINE TRADING, LLC | New | $278.6k21.6k 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.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| First Beijing Investment Ltd 13G · passive investor +1.4 pts · filed 2026-05-13 | 9.6% |
| SB INVESTMENT ADVISERS (UK) LTD 13G · exempt (held before listing) -2.5 pts · filed 2025-11-14 | 7.4% |
| FIL Ltd 13G · institution +1.3 pts · filed 2025-11-05 | 6.8% |
| Invesco Ltd. 13G · institution new · filed 2025-11-06 | 5.8% |
Insider purchases and sales in Q1 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
None reported in Q1 2025.
Holders, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| FIL Ltd 0.65% of their portfolio | 53.8m $687.3m | Added +2.1m |
| JPMORGAN CHASE & CO 0.03% of their portfolio | 34.3m $437.4m | Reduced -3.6m |
| FMR LLC 0.03% of their portfolio | 33.5m $428.0m | Added +28.0m |
| Invesco Ltd. 0.07% of their portfolio | 31.0m $395.4m | Added +917.3k |
| First Beijing Investment Ltd 26.07% of their portfolio | 29.7m $379.7m | Reduced -1.5m |
| VANGUARD GROUP INC 0.01% of their portfolio | 29.4m $375.1m | Added +430.8k |
| MORGAN STANLEY 0.02% of their portfolio | 26.9m $343.1m | Reduced -11.9m |
| Krane Funds Advisors LLC 9.62% of their portfolio | 26.2m $334.7m | Added +4.9m |
| Greenwoods Asset Management Hong Kong Ltd. 10.28% of their portfolio | 26.0m $332.0m | Reduced -24.7k |
| All-Stars Investment Ltd 89.32% of their portfolio | 22.7m $289.7m | Added +3 |
| WFM ASIA (BVI) Ltd 26.80% of their portfolio | 18.8m $240.2m | Reduced -1.5m |
| OLP CAPITAL MANAGEMENT Ltd 26.03% of their portfolio | 15.7m $200.6m | Unchanged |
| Aspex Management (HK) Ltd 5.02% of their portfolio | 15.2m $194.2m | Unchanged |
| BAILLIE GIFFORD & CO 0.16% of their portfolio | 14.7m $188.1m | Reduced -314.6k |
| ALKEON CAPITAL MANAGEMENT LLC 1.05% of their portfolio | 13.9m $177.6m | Reduced -13.0k |
| SC US (TTGP), LTD. 1.58% of their portfolio | 13.1m $166.7m | Unchanged |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 10.8m $137.4m | Added +575.3k |
| SANDS CAPITAL MANAGEMENT, LLC 0.45% of their portfolio | 10.3m $130.9m | Added +4.1m |
| BlackRock, Inc. 0.00% of their portfolio | 9.6m $122.7m | Reduced -1.0m |
| BAMCO INC /NY/ 0.35% of their portfolio | 9.2m $117.7m | Reduced -862.6k |
| EMPOWER HARVEST MANAGEMENT SERVICES, INC. 100.00% of their portfolio | 9.0m $114.6m | Unchanged |
| NORGES BANK 0.01% of their portfolio | 8.0m $102.3m | Reduced -1.4m |
| Davis Selected Advisers 0.58% of their portfolio | 7.8m $99.9m | Added +2.4m |
| Pinpoint Asset Management Ltd 17.14% of their portfolio | 7.7m $98.8m | Added +1.4m |
| FARALLON CAPITAL MANAGEMENT, L.L.C. 0.51% of their portfolio | 7.4m $94.0m | Reduced -9.2m |
| SB INVESTMENT ADVISERS (UK) LTD 0.82% of their portfolio | 7.0m $89.9m | Reduced -19.0m |
| Kontiki Capital Management (HK) Ltd. 5.85% of their portfolio | 6.4m $81.3m | New |
| North of South Capital LLP 8.78% of their portfolio | 6.2m $78.6m | Added +465.4k |
| APG Asset Management N.V. 0.17% of their portfolio | 4.8m $56.3m | New |
| Nuveen, LLC 0.02% of their portfolio | 4.7m $59.9m | First filing |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.21% of their portfolio | 4.5m $57.3m | Reduced -2.7m |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 4.4m $56.2m | Reduced -2.4m |
| KEYWISE CAPITAL MANAGEMENT (HK) Ltd 5.96% of their portfolio | 4.2m $54.1m | Unchanged |
| SYLEBRA CAPITAL LLC 2.67% of their portfolio | 4.1m $52.9m | Reduced -2.4m |
| E Fund Management Co., Ltd. 2.47% of their portfolio | 4.0m $51.7m | Reduced -796.4k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 4.0m $51.4m | Added +216.8k |
| MATTHEWS INTERNATIONAL CAPITAL MANAGEMENT LLC 9.42% of their portfolio | 3.6m $45.6m | Added +284.5k |
| Robeco Institutional Asset Management B.V. 0.08% of their portfolio | 3.3m $41.6m | Reduced -199.0k |
| Polunin Capital Partners Ltd 6.81% of their portfolio | 3.3m $33.7m | Reduced -52.6k |
| MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio | 3.1m $40.1m | Added +2.5m |
| SOFTBANK GROUP CORP. 0.14% of their portfolio | 3.1m $39.9m | Reduced -1.1m |
| BRILLIANCE ASSET MANAGEMENT LTD 12.74% of their portfolio | 3.0m $38.5m | Reduced -1.2m |
| KEYSTONE INVESTORS PTE LTD 5.38% of their portfolio | 3.0m $38.3m | Added +2.4m |
| JANUS HENDERSON GROUP PLC 0.02% of their portfolio | 3.0m $38.1m | Added +24.3k |
| NOMURA ASSET MANAGEMENT CO LTD 0.11% of their portfolio | 2.9m $37.5m | Reduced -468.6k |
| UBS Group AG 0.01% of their portfolio | 2.9m $36.4m | Reduced -1.2m |
| Qube Research & Technologies Ltd 0.05% of their portfolio | 2.7m $34.8m | Added +1.1m |
| STATE STREET CORP 0.00% of their portfolio | 2.5m $32.0m | Reduced -241.3k |
| SG Americas Securities, LLC 0.11% of their portfolio | 2.5m $31.5m | Added +1.7m |
| Alberta Investment Management Corp 0.21% of their portfolio | 2.4m $30.4m | Added +292.2k |
| Pictet Asset Management Holding SA 0.03% of their portfolio | 2.4m $30.4m | Added +29.3k |
| CITADEL ADVISORS LLC 0.03% of their portfolio | 2.3m $29.6m | Added +312.8k |
| Mitsubishi UFJ Trust & Banking Corp 0.08% of their portfolio | 2.3m $29.5m | New |
| HSBC HOLDINGS PLC 0.02% of their portfolio | 2.3m $29.1m | Reduced -201.9k |
| BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio | 2.1m $27.3m | First filing |
| PINEBRIDGE INVESTMENTS, L.P. 0.22% of their portfolio | 2.1m $27.1m | Added +1.1m |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.07% of their portfolio | 2.0m $26.2m | Added +1.0m |
| Cederberg Capital Ltd 9.79% of their portfolio | 2.0m $25.3m | New |
| Perpetual Ltd 0.30% of their portfolio | 2.0m $25.0m | Added +174.5k |
| JANE STREET GROUP, LLC 0.04% of their portfolio | 1.6m $20.7m | Added +106.3k |
| Blue Creek Capital Management Ltd 26.11% of their portfolio | 1.6m $20.1m | Reduced -120.0k |
| Taikang Asset Management (Hong Kong) Co Ltd 2.69% of their portfolio | 1.5m $19.8m | Added +184.7k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.02% of their portfolio | 1.5m $19.4m | Added +641.9k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio | 1.5m $19.1m | Added +302.4k |
| Highlander Partners, L.P. 11.76% of their portfolio | 1.5m $19.0m | Unchanged |
| Legal & General Group Plc 0.01% of their portfolio | 1.5m $18.5m | Added +7.1k |
| Point72 Hong Kong Ltd 1.29% of their portfolio | 1.4m $18.1m | New |
| NS Partners Ltd 0.79% of their portfolio | 1.4m $18.1m | Added +1.2m |
| KADENSA CAPITAL Ltd 2.04% of their portfolio | 1.3m $16.5m | Added +836.2k |
| FEDERATED HERMES, INC. 0.03% of their portfolio | 1.2m $15.6m | Reduced -103.9k |
| Yunqi Capital Ltd 13.63% of their portfolio | 1.1m $13.8m | Reduced -354.0k |
| CITIGROUP INC 0.01% of their portfolio | 1.1m $13.8m | Added +29.0k |
| California Public Employees Retirement System 0.01% of their portfolio | 1.1m $13.4m | Added +15.3k |
| Point72 Asset Management, L.P. 0.04% of their portfolio | 1.0m $13.2m | New |
| Burgundy Asset Management Ltd. 0.13% of their portfolio | 991.1k $12.7m | Added +75.4k |
| HarbourVest Partners LLC 7.95% of their portfolio | 957.6k $12.2m | Unchanged |
| GF FUND MANAGEMENT CO. LTD. 0.28% of their portfolio | 947.2k $12.1m | Reduced -584.9k |
| Liontrust Investment Partners LLP 0.19% of their portfolio | 939.4k $12.0m | Reduced -101.0k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 922.6k $11.8m | New |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 907.5k $11.6m | Added +15.9k |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.19% of their portfolio | 884.2k $11.3m | New |
| Polymer Capital Management (HK) LTD 1.85% of their portfolio | 833.4k $10.6m | Added +402.7k |
| VAN ECK ASSOCIATES CORP 0.01% of their portfolio | 811.4k $10.4m | Reduced -248.1k |
| Twenty Acre Capital LP 7.17% of their portfolio | 811.2k $8.8m | Unchanged |
| Man Group plc 0.03% of their portfolio | 795.6k $10.2m | Added +707.5k |
| Woodline Partners LP 0.07% of their portfolio | 791.9k $10.1m | Reduced -222.3k |
| SEI INVESTMENTS CO 0.01% of their portfolio | 786.6k $10.0m | Added +245.0k |
| OVERSEA-CHINESE BANKING Corp Ltd 0.27% of their portfolio | 713.0k $9.1m | Added +8.0k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 707.0k $9.0m | Added +404.8k |
| WT Asset Management Ltd 1.04% of their portfolio | 698.9k $8.9m | Added +140.1k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 697.7k $8.9m | Unchanged |
| Cubist Systematic Strategies, LLC 0.12% of their portfolio | 690.4k $8.8m | New |
| Walleye Capital LLC 0.10% of their portfolio | 674.1k $8.6m | Reduced -661.5k |
| Harvest Fund Management Co., Ltd 0.36% of their portfolio | 628.0k $7.3m | Added +249.8k |
| LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio | 589.4k $7.5m | New |
| WESTPAC BANKING CORP 0.53% of their portfolio | 560.1k $7.2m | Added +40.0k |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 534.6k $6.8m | Added +231.6k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 532.9k $6.8m | New |
| TB Alternative Assets Ltd. 1.57% of their portfolio | 530.5k $6.8m | Added +126.7k |
| Jump Financial, LLC 0.10% of their portfolio | 528.8k $6.8m | New |