Vault-13

FULL TRUCK ALLIANCE CO LTD YMM

SPONSORED ADS · ADR · CUSIP 35969L108 · ISIN US35969L1089

211 institutional holders -18 vs Q3 2025
744,608,242744.6m shares reported held*
$8.0bnreported value*
26 new 77 added 74 reduced 46 sold out net bought ≈ $17.5m (+1.6m shares)

* 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 ($5.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $10.73. Options: 5 managers hold calls ($13.5m notional), 5 hold puts ($2.8m).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 105Q4 22: 127Q1 23: 134Q2 23: 119Q3 23: 122Q4 23: 150Q1 24: 148Q2 24: 178Q3 24: 171Q4 24: 196Q1 25: 249Q2 25: 231Q3 25: 229Q4 25: 211211Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 2022105
Q4 2022127
Q1 2023134
Q2 2023119
Q3 2023122
Q4 2023150
Q1 2024148
Q2 2024178
Q3 2024171
Q4 2024196
Q1 2025249
Q2 2025231
Q3 2025229
Q4 2025211

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
2000200Q1 24: 82 bought or addedQ1 24: 70 cut or sold outQ2 24: 103 bought or addedQ2 24: 68 cut or sold outQ2 24Q3 24: 86 bought or addedQ3 24: 93 cut or sold outQ4 24: 100 bought or addedQ4 24: 92 cut or sold outQ4 24Q1 25: 158 bought or addedQ1 25: 74 cut or sold outQ2 25: 125 bought or addedQ2 25: 133 cut or sold outQ2 25Q3 25: 119 bought or addedQ3 25: 124 cut or sold outQ4 25: 103 bought or addedQ4 25: 120 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20248270
Q2 202410368
Q3 20248693
Q4 202410092
Q1 202515874
Q2 2025125133
Q3 2025119124
Q4 2025103120

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$20m$40m$60mQ1 25 calls: $37.4mQ1 25 puts: $46.1mQ1 25P/C 1.23Q2 25 calls: $26.2mQ2 25 puts: $33.2mQ2 25P/C 1.26Q3 25 calls: $41.0mQ3 25 puts: $30.1mQ3 25P/C 0.73Q4 25 calls: $13.5mQ4 25 puts: $2.8mQ4 25P/C 0.21
Numbers
QuarterCallsPutsP/C
Q1 2025$37.4m$46.1m1.23
Q2 2025$26.2m$33.2m1.26
Q3 2025$41.0m$30.1m0.73
Q4 2025$13.5m$2.8m0.21

Biggest buyers

SCHRODER INVESTMENT MANAGEMENT GROUP Added +14,525,984+14.5m
OLP CAPITAL MANAGEMENT Ltd Added +9,983,779+10.0m
UBS Group AG Added +8,221,287+8.2m
WELLINGTON MANAGEMENT GROUP LLP New +8,191,592+8.2m
First Beijing Investment Ltd Added +7,970,988+8.0m
Mitsubishi UFJ Trust & Banking Corp Added +6,977,787+7.0m
Mondrian Investment Partners LTD New +5,548,648+5.5m
Kontiki Capital Management (HK) Ltd. Added +5,032,179+5.0m
Invesco Ltd. Added +4,049,322+4.0m
Krane Funds Advisors LLC Added +3,935,263+3.9m

Biggest sellers

JPMORGAN CHASE & CO Reduced -27,912,154-27.9m
FMR LLC Reduced -13,028,901-13.0m
MORGAN STANLEY Reduced -8,609,709-8.6m
SB INVESTMENT ADVISERS (UK) LTD Reduced -4,852,722-4.9m
HHLR ADVISORS, LTD. Sold out -4,066,553-4.1m
WFM ASIA (BVI) Ltd Reduced -3,778,922-3.8m
NATIONAL BANK OF CANADA /FI/ Sold out -2,757,300-2.8m
AMERIPRISE FINANCIAL INC Reduced -2,538,258-2.5m
BANK OF AMERICA CORP /DE/ Reduced -2,233,653-2.2m
VOLORIDGE INVESTMENT MANAGEMENT, LLC Sold out -2,138,092-2.1m

Biggest calls

JANE STREET GROUP, LLC Reduced $10.5m978.2k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.3m122.4k shares
GROUP ONE TRADING LLC Reduced $1.2m115.2k shares
CITADEL ADVISORS LLC Reduced $417.4k38.9k shares
SIMPLEX TRADING, LLC Reduced $44.0k4.1k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.4m130.0k shares
GROUP ONE TRADING LLC Reduced $561.2k52.3k shares
SIMPLEX TRADING, LLC Reduced $402.4k37.5k shares
PEAK6 LLC Reduced $270.4k25.2k shares
CITADEL ADVISORS LLC Reduced $181.3k16.9k 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.

HolderStakeChangeShares Last filed
First Beijing Investment Ltd 13G · passive investor +1.4 pts · filed 2026-05-13 9.6% +1.4 pts 1.8bn 2026-05-13
SB INVESTMENT ADVISERS (UK) LTD 13G · exempt (held before listing) -2.5 pts · filed 2025-11-14 7.4% -2.5 pts 1.4bn 2025-11-14
FIL Ltd 13G · institution +1.3 pts · filed 2025-11-05 6.8% +1.3 pts 1.3bn 2025-11-05
Invesco Ltd. 13G · institution new · filed 2025-11-06 5.8% new 1.1bn 2025-11-06

Insider purchases and sales in Q4 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 Q4 2025.

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 First Beijing Investment Ltd 32.42% of their portfolio HONG KONG, K3 76,616,56876.6m $822.1m $822.1m 32.42% Added +8.0m +7,970,988
2 FIL Ltd 0.52% of their portfolio HAMILTON, D0 64,382,17364.4m $690.8m $690.8m 0.52% Added +1.0m +1,040,793
3 Invesco Ltd. 0.06% of their portfolio ATLANTA, GA 58,272,67158.3m $625.3m $625.3m 0.06% Added +4.0m +4,049,322
4 SCHRODER INVESTMENT MANAGEMENT GROUP 0.39% of their portfolio London, X0 47,859,03547.9m $513.5m $513.5m 0.39% Added +14.5m +14,525,984
5 VANGUARD GROUP INC 0.01% of their portfolio Valley Forge, PA 33,004,63433.0m $354.1m $354.1m 0.01% Added +461.1k +461,147
6 Krane Funds Advisors LLC 11.18% of their portfolio NEW YORK, NY 32,100,73632.1m $344.4m $344.4m 11.18% Added +3.9m +3,935,263
7 Greenwoods Asset Management Hong Kong Ltd. 7.59% of their portfolio HONG KONG, K3 28,597,87928.6m $306.9m $306.9m 7.59% Unchanged
8 Aspex Management (HK) Ltd 5.18% of their portfolio CENTRAL, K3 23,763,95323.8m $255.0m $255.0m 5.18% Unchanged
9 All-Stars Investment Ltd 88.62% of their portfolio HONG KONG, K3 22,095,16422.1m $237.1m $237.1m 88.62% Unchanged
10 FMR LLC 0.01% of their portfolio BOSTON, MA 21,744,76321.7m $233.3m $233.3m 0.01% Reduced -13.0m -13,028,901
11 Kontiki Capital Management (HK) Ltd. 12.71% of their portfolio Hong Kong, K3 20,380,96920.4m $218.7m $218.7m 12.71% Added +5.0m +5,032,179
12 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 18,127,26418.1m $194.5m $194.5m 0.01% Reduced -27.9m -27,912,154
13 Mitsubishi UFJ Trust & Banking Corp 0.45% of their portfolio TOKYO, M0 17,625,61717.6m $189.1m $189.1m 0.45% Added +7.0m +6,977,787
14 Davis Selected Advisers 0.85% of their portfolio Tucson, AZ 17,537,52417.5m $188.2m $188.2m 0.85% Added +2.6m +2,555,751
15 Capital International Investors 0.03% of their portfolio Los Angeles, CA 16,533,00416.5m $177.4m $177.4m 0.03% Added +2.0m +2,020,514
16 OLP CAPITAL MANAGEMENT Ltd 31.38% of their portfolio CAUSEWAY BAY, K3 15,007,85115.0m $161.0m $161.0m 31.38% Added +10.0m +9,983,779
17 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 14,769,84214.8m $158.5m $158.5m 0.01% Reduced -8.6m -8,609,709
18 WFM ASIA (BVI) Ltd 19.52% of their portfolio HONG KONG, K3 14,650,66214.7m $157.2m $157.2m 19.52% Reduced -3.8m -3,778,922
19 ALKEON CAPITAL MANAGEMENT LLC 0.67% of their portfolio New York, NY 14,198,53514.2m $152.4m $152.4m 0.67% Unchanged
20 SC US (TTGP), LTD. 1.00% of their portfolio Menlo Park, CA 13,057,90413.1m $140.1m $140.1m 1.00% Unchanged
21 North of South Capital LLP 10.46% of their portfolio LONDON, X0 10,847,82110.8m $116.4m $116.4m 10.46% Added +240.4k +240,446
22 UBS Group AG 0.02% of their portfolio ZURICH, V8 9,411,8349.4m $101.0m $101.0m 0.02% Added +8.2m +8,221,287
23 EMPOWER HARVEST MANAGEMENT SERVICES, INC. 100.00% of their portfolio GRAND CAYMAN, E9 8,970,2639.0m $96.3m $96.3m 100.00% Unchanged
24 NORGES BANK 0.01% of their portfolio OSLO, Q8 8,622,8398.6m $92.5m $92.5m 0.01% Not comparable
25 WELLINGTON MANAGEMENT GROUP LLP 0.02% of their portfolio Boston, MA 8,191,5928.2m $87.9m $87.9m 0.02% New
26 Alpine Investment Management Ltd 35.88% of their portfolio HONG KONG, K3 7,444,8007.4m $79.9m $79.9m 35.88% Added +3.4m +3,444,800
27 SANDS CAPITAL MANAGEMENT, LLC 0.20% of their portfolio ARLINGTON, VA 6,123,7686.1m $65.7m $65.7m 0.20% Reduced -643.1k -643,087
28 BAMCO INC /NY/ 0.17% of their portfolio NEW YORK, NY 5,772,6235.8m $61.9m $61.9m 0.17% Reduced -542.2k -542,234
29 Mondrian Investment Partners LTD 0.98% of their portfolio LONDON, X0 5,548,6485.5m $59.5m $59.5m 0.98% New
30 SB INVESTMENT ADVISERS (UK) LTD 0.57% of their portfolio LONDON, X0 5,272,3905.3m $56.6m $56.6m 0.57% Reduced -4.9m -4,852,722
31 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 5,054,7215.1m $54.2m $54.2m 0.01% Reduced -1.0m -1,026,568
32 Capital International, Inc./CA/ 0.33% of their portfolio Los Angeles, CA 3,900,4833.9m $41.9m $41.9m 0.33% Added +40.6k +40,641
33 SOFTBANK GROUP CORP. 0.27% of their portfolio TOKYO, M0 3,884,4833.9m $41.7m $41.7m 0.27% Reduced -521.8k -521,828
34 Carrhae Capital LLP 2.72% of their portfolio London, X0 3,807,4413.8m $40.9m $40.9m 2.72% Added +1.1m +1,132,667
35 OAKTREE CAPITAL MANAGEMENT LP 0.61% of their portfolio LOS ANGELES, CA 3,519,7643.5m $37.8m $37.8m 0.61% Reduced -277.9k -277,933
36 Polunin Capital Partners Ltd 4.79% of their portfolio LONDON, X0 3,152,1333.2m $31.1m $31.1m 4.79% Added +6.8k +6,787
37 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.04% of their portfolio Paris, I0 3,103,4623.1m $33.3m $33.3m 0.04% Added +65.7k +65,685
38 Robeco Institutional Asset Management B.V. 0.04% of their portfolio ROTTERDAM, P7 2,811,8702.8m $30.2m $30.2m 0.04% Added +334.1k +334,124
39 HSBC HOLDINGS PLC 0.01% of their portfolio LONDON, X0 2,433,5842.4m $26.2m $26.2m 0.01% Added +96.1k +96,077
40 NORDEA INVESTMENT MANAGEMENT AB 0.02% of their portfolio STOCKHOLM, V7 2,326,5582.3m $25.1m $25.1m 0.02% Added +627.1k +627,118
41 Russell Investments Group, Ltd. 0.03% of their portfolio Seattle, WA 2,320,7352.3m $24.9m $24.9m 0.03% Added +60.4k +60,369
42 JANE STREET GROUP, LLC 0.03% of their portfolio NEW YORK, NY 2,229,3802.2m $23.9m $23.9m 0.03% Added +590.8k +590,805
43 JANUS HENDERSON GROUP PLC 0.01% of their portfolio LONDON, X0 2,221,2042.2m $23.8m $23.8m 0.01% Reduced -495.8k -495,756
44 Pinpoint Asset Management (Singapore) Pte. Ltd. 4.76% of their portfolio SINGAPORE, U0 2,130,4512.1m $22.9m $22.9m 4.76% Reduced -1.9m -1,936,488
45 MARSHALL WACE, LLP 0.02% of their portfolio LONDON, X0 2,081,4992.1m $22.3m $22.3m 0.02% New
46 Triata Capital Ltd 2.61% of their portfolio HONG KONG, K3 2,004,7192.0m $21.5m $21.5m 2.61% Added +995.5k +995,500
47 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 1,868,2641.9m $20.0m $20.0m 0.00% Reduced -13.7k -13,667
48 Cederberg Capital Ltd 6.37% of their portfolio LONDON, X0 1,828,9001.8m $19.6m $19.6m 6.37% Reduced -638.1k -638,100
49 SERENITY CAPITAL MANAGEMENT PTE. LTD. 5.15% of their portfolio Singapore, U0 1,807,7691.8m $19.4m $19.4m 5.15% New
50 Legal & General Group Plc 0.00% of their portfolio London, X0 1,775,2931.8m $19.0m $19.0m 0.00% Added +278.1k +278,108
51 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio Toronto, A6 1,627,1481.6m $17.5m $17.5m 0.01% Reduced -606.2k -606,245
52 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,594,8401.6m $17.1m $17.1m 0.00% Reduced -2.2m -2,233,653
53 Working Capital Advisors (UK) Ltd. 22.66% of their portfolio LONDON, X0 1,583,3501.6m $17.0m $17.0m 22.66% Added +877.9k +877,853
54 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 1,552,1831.6m $16.7m $16.7m 0.01% Reduced -1.1m -1,052,176
55 OVERSEA-CHINESE BANKING Corp Ltd 0.46% of their portfolio SINGAPORE, U0 1,541,1531.5m $16.5m $16.5m 0.46% Reduced -69.5k -69,516
56 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 1,348,5571.3m $14.5m $14.5m 0.00% Added +251.9k +251,897
57 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 1,331,1481.3m $14.3m $14.3m 0.01% Reduced -63.7k -63,661
58 MATTHEWS INTERNATIONAL CAPITAL MANAGEMENT LLC 4.22% of their portfolio SAN FRANCISCO, CA 1,296,1891.3m $13.9m $13.9m 4.22% Reduced -555.2k -555,249
59 Highlander Partners, L.P. 4.73% of their portfolio DALLAS, TX 1,228,2371.2m $13.2m $13.2m 4.73% Unchanged
60 C WorldWide Group Holding A/S 0.22% of their portfolio COPENHAGEN, G7 1,187,7001.2m $12.7m $12.7m 0.22% Reduced -180.6k -180,600
61 Capitolis Liquid Global Markets LLC 0.07% of their portfolio NEW YORK, NY 1,167,5001.2m $12.5m $12.5m 0.07% New
62 SG Americas Securities, LLC 0.02% of their portfolio NEW YORK, NY 1,146,4201.1m $12.3m $12.3m 0.02% Added +965.6k +965,601
63 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,043,9791.0m $11.2m $11.2m 0.00% Added +324.1k +324,079
64 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 1,007,4601.0m $10.8m $10.8m 0.01% Reduced -1.3m -1,307,470
65 Harvest Fund Management Co., Ltd 0.43% of their portfolio BEIJING, F4 986,505986.5k $11.5m $11.5m 0.43% Added +187.1k +187,102
66 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 978,389978.4k $10.5m $10.5m 0.00% Added +1.4k +1,430
67 HarbourVest Partners LLC 5.90% of their portfolio Boston, MA 957,580957.6k $10.3m $10.3m 5.90% Unchanged
68 HRT FINANCIAL LP 0.04% of their portfolio NEW YORK, NY 941,278941.3k $10.1m $10.1m 0.04% Added +895.4k +895,447
69 Perpetual Ltd 0.13% of their portfolio SYDNEY, NEW SOUTH WALES, C3 853,980854.0k $9.2m $9.2m 0.13% Reduced -247.9k -247,926
70 GF FUND MANAGEMENT CO. LTD. 0.15% of their portfolio GUANGZHOU, F4 817,402817.4k $8.8m $8.8m 0.15% Added +6.6k +6,607
71 NOTABLE CAPITAL MANAGEMENT, L.L.C. 11.86% of their portfolio MENLO PARK, CA 810,448810.4k $8.7m $8.7m 11.86% New
72 BRIGHT VALLEY CAPITAL Ltd 5.50% of their portfolio HONG KONG, K3 755,876755.9k $8.1m $8.1m 5.50% Reduced -1.8m -1,816,124
73 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 697,661697.7k $7.5m $7.5m 0.00% Unchanged
74 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 678,130678.1k $7.3m $7.3m 0.00% Added +104.5k +104,519
75 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 675,130675.1k $7.2m $7.2m 0.00% Reduced -2.5m -2,538,258
76 California Public Employees Retirement System 0.00% of their portfolio Sacramento, CA 661,814661.8k $7.1m $7.1m 0.00% Reduced -381.7k -381,654
77 LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 635,723635.7k $6.8m $6.8m 0.01% Reduced -47.8k -47,849
78 LMR Partners LLP 0.06% of their portfolio LONDON, X0 630,210630.2k $6.8m $6.8m 0.06% New
79 Pictet Asset Management Holding SA 0.01% of their portfolio CAROUGE, V8 567,782567.8k $6.1m $6.1m 0.01% Reduced -679.3k -679,282
80 Liontrust Investment Partners LLP 0.09% of their portfolio LONDON, X0 545,668545.7k $5.9m $5.9m 0.09% Reduced -373.2k -373,167
81 1832 Asset Management L.P. 0.01% of their portfolio TORONTO, A6 516,223516.2k $5.5m $5.5m 0.01% New
82 Boundless Plain Holdings Ltd 1.75% of their portfolio HONG KONG, K3 510,383510.4k $5.5m $5.5m 1.75% First filing
83 AIA Group Ltd 0.08% of their portfolio HONG KONG, K3 510,066510.1k $5.5m $5.5m 0.08% Added +49.8k +49,765
84 State of New Jersey Common Pension Fund D 0.02% of their portfolio TRENTON, NJ 498,759498.8k $5.4m $5.4m 0.02% Added +155.3k +155,286
85 BLI - Banque de Luxembourg Investments 0.15% of their portfolio LUXEMBOURG CITY, N4 482,000482.0k $5.3m $5.3m 0.15% Added +220.0k +220,000
86 TB Alternative Assets Ltd. 0.82% of their portfolio HONG KONG, K3 468,434468.4k $5.0m $5.0m 0.82% Reduced -46.6k -46,620
87 Schonfeld Strategic Advisors LLC 0.03% of their portfolio NEW YORK, NY 466,297466.3k $5.0m $5.0m 0.03% Added +341.0k +340,988
88 VAN ECK ASSOCIATES CORP 0.00% of their portfolio NEW YORK, NY 462,943462.9k $5.0m $5.0m 0.00% Reduced -150.6k -150,605
89 PINEBRIDGE INVESTMENTS ASIA LTD 1.42% of their portfolio HONG KONG, F4 459,229459.2k $4.9m $4.9m 1.42% First filing
90 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 439,843439.8k $4.7m $4.7m 0.00% Added +111.9k +111,856
91 Yiheng Capital Management, L.P. 1.92% of their portfolio SAN FRANCISCO, CA 411,143411.1k $4.4m $4.4m 1.92% New
92 Fideuram Asset Management (Ireland) dac 0.32% of their portfolio DUBLIN 1, L2 344,209344.2k $4.0m $4.0m 0.32% First filing
93 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 308,502308.5k $3.3m $3.3m 0.00% Added +55.7k +55,706
94 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.01% of their portfolio COLUMBUS, OH 305,844305.8k $3.3m $3.3m 0.01% Unchanged
95 GAM Holding AG 0.21% of their portfolio Zurich, V8 303,655303.7k $3.3m $3.3m 0.21% Reduced -336.7k -336,705
96 B. Metzler seel. Sohn & Co. AG 0.03% of their portfolio FRANKFURT, 2M 299,388299.4k $3.2m $3.2m 0.03% Added +96.0k +95,995
97 FEDERATED HERMES, INC. 0.01% of their portfolio PITTSBURGH, PA 292,745292.7k $3.1m $3.1m 0.01% Reduced -300.9k -300,879
98 ABS Direct Equity Fund LLC 3.48% of their portfolio Stamford, CT 272,619272.6k $2.9m $2.9m 3.48% Unchanged
99 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 267,685267.7k $2.9m $2.9m 0.00% Reduced -1.6m -1,636,073
100 CAPITAL INTERNATIONAL SARL 0.05% of their portfolio Los Angeles, CA 266,548266.5k $2.9m $2.9m 0.05% Added +2.0k +2,030