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 ($228.2k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $8.29. Options: 8 managers hold calls ($13.0m notional), 8 hold puts ($11.2m).
Trends to Q1 2026
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 |
| Q2 2025 | 231 |
| Q3 2025 | 229 |
| Q4 2025 | 211 |
| Q1 2026 | 203 |
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 2024 | 103 | 68 |
| Q3 2024 | 86 | 93 |
| Q4 2024 | 100 | 92 |
| Q1 2025 | 158 | 74 |
| Q2 2025 | 125 | 133 |
| Q3 2025 | 119 | 124 |
| Q4 2025 | 103 | 120 |
| Q1 2026 | 104 | 112 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $26.2m | $33.2m | 1.26 |
| Q3 2025 | $41.0m | $30.1m | 0.73 |
| Q4 2025 | $13.5m | $2.8m | 0.21 |
| Q1 2026 | $13.0m | $11.2m | 0.86 |
Biggest buyers
| First Beijing Investment Ltd | Added | +13.4m |
| OLP CAPITAL MANAGEMENT Ltd | Added | +12.5m |
| Greenwoods Asset Management Hong Kong Ltd. | Added | +12.4m |
| Davis Selected Advisers | Added | +11.2m |
| D. E. Shaw & Co., Inc. | Added | +10.2m |
| Qube Research & Technologies Ltd | Added | +7.2m |
| BRILLIANCE ASSET MANAGEMENT LTD | New | +6.5m |
| MARSHALL WACE, LLP | Added | +5.9m |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | New | +4.7m |
| MILLENNIUM MANAGEMENT LLC | Added | +4.6m |
Biggest sellers
| FMR LLC | Reduced | -21.7m |
| Kontiki Capital Management (HK) Ltd. | Sold out | -20.4m |
| Capital International Investors | Sold out | -16.5m |
| SCHRODER INVESTMENT MANAGEMENT GROUP | Reduced | -13.1m |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -5.9m |
| ALKEON CAPITAL MANAGEMENT LLC | Reduced | -5.3m |
| MORGAN STANLEY | Reduced | -5.3m |
| Capital International, Inc./CA/ | Sold out | -3.9m |
| Carrhae Capital LLP | Sold out | -3.8m |
| OAKTREE CAPITAL MANAGEMENT LP | Sold out | -3.5m |
Biggest calls
| GOLDMAN SACHS GROUP INC | New | $8.3m1.0m shares |
| HRT FINANCIAL LP | New | $2.1m250.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $908.9k109.5k shares |
| SIMPLEX TRADING, LLC | Added | $867.4k104.5k shares |
| IMC-Chicago, LLC | New | $695.5k83.8k shares |
| Walleye Trading LLC | New | $114.5k13.8k shares |
| Walleye Capital LLC | New | $57.3k6.9k shares |
| GROUP ONE TRADING LLC | Reduced | $1.7k200 shares |
Biggest puts
| PEAK6 LLC | Added | $4.2m500.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $3.1m376.4k shares |
| JPMORGAN CHASE & CO | New | $2.0m250.0k shares |
| GROUP ONE TRADING LLC | Added | $680.6k82.0k shares |
| CITADEL ADVISORS LLC | Added | $520.4k62.7k shares |
| IMC-Chicago, LLC | New | $475.6k57.3k shares |
| SIMPLEX TRADING, LLC | Reduced | $136.9k16.5k shares |
| JANE STREET GROUP, LLC | New | $88.0k10.6k 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 2026
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 2026.
Holders, Q1 2026
| Manager | Shares | Change |
|---|---|---|
| First Beijing Investment Ltd 32.22% of their portfolio | 90.0m $747.0m | Added +13.4m |
| FIL Ltd 0.41% of their portfolio | 63.2m $524.7m | Reduced -1.2m |
| Invesco Ltd. 0.05% of their portfolio | 60.1m $498.5m | Added +1.8m |
| Greenwoods Asset Management Hong Kong Ltd. 8.77% of their portfolio | 41.0m $339.9m | Added +12.4m |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.24% of their portfolio | 34.8m $288.6m | Reduced -13.1m |
| Davis Selected Advisers 1.10% of their portfolio | 28.8m $238.7m | Added +11.2m |
| Krane Funds Advisors LLC 9.70% of their portfolio | 28.6m $236.2m | Reduced -3.5m |
| OLP CAPITAL MANAGEMENT Ltd 23.95% of their portfolio | 27.5m $228.5m | Added +12.5m |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 23.9m $198.3m | First filing |
| All-Stars Investment Ltd 88.99% of their portfolio | 22.1m $183.4m | Unchanged |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 22.1m $178.6m | Added +3.9m |
| Aspex Management (HK) Ltd 2.62% of their portfolio | 21.8m $180.9m | Reduced -2.0m |
| Mitsubishi UFJ Trust & Banking Corp 0.40% of their portfolio | 19.3m $160.3m | Added +1.7m |
| WFM ASIA (BVI) Ltd 19.24% of their portfolio | 14.7m $121.6m | Unchanged |
| SC US (TTGP), LTD. 1.17% of their portfolio | 13.1m $108.4m | Unchanged |
| D. E. Shaw & Co., Inc. 0.07% of their portfolio | 11.2m $93.3m | Added +10.2m |
| North of South Capital LLP 8.29% of their portfolio | 11.1m $92.3m | Added +270.3k |
| Alpine Investment Management Ltd 44.55% of their portfolio | 11.1m $91.7m | Added +3.6m |
| MORGAN STANLEY 0.00% of their portfolio | 9.5m $79.0m | Reduced -5.3m |
| EMPOWER HARVEST MANAGEMENT SERVICES, INC. 100.00% of their portfolio | 9.0m $74.5m | Unchanged |
| ALKEON CAPITAL MANAGEMENT LLC 0.33% of their portfolio | 8.9m $73.9m | Reduced -5.3m |
| MARSHALL WACE, LLP 0.07% of their portfolio | 8.0m $66.1m | Added +5.9m |
| UBS Group AG 0.01% of their portfolio | 7.6m $63.4m | Reduced -1.8m |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 7.6m $62.9m | Added +2.5m |
| Qube Research & Technologies Ltd 0.09% of their portfolio | 7.5m $62.0m | Added +7.2m |
| Mondrian Investment Partners LTD 0.92% of their portfolio | 7.4m $61.4m | Added +1.8m |
| BRILLIANCE ASSET MANAGEMENT LTD 15.97% of their portfolio | 6.5m $54.1m | New |
| VANGUARD FIDUCIARY TRUST CO 0.01% of their portfolio | 6.2m $51.8m | First filing |
| CITIGROUP INC 0.03% of their portfolio | 5.7m $47.3m | Added +4.4m |
| SB INVESTMENT ADVISERS (UK) LTD 0.57% of their portfolio | 5.3m $43.8m | Unchanged |
| SANDS CAPITAL MANAGEMENT, LLC 0.16% of their portfolio | 5.0m $41.3m | Reduced -1.2m |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.16% of their portfolio | 4.7m $39.1m | New |
| MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio | 4.7m $38.8m | Added +4.6m |
| E Fund Management Co., Ltd. 1.11% of their portfolio | 4.5m $37.4m | First filing |
| BAMCO INC /NY/ 0.10% of their portfolio | 4.2m $34.7m | Reduced -1.6m |
| SOFTBANK GROUP CORP. 0.28% of their portfolio | 3.9m $31.9m | Unchanged |
| SERENITY CAPITAL MANAGEMENT PTE. LTD. 7.39% of their portfolio | 3.7m $30.6m | Added +1.9m |
| Polunin Capital Partners Ltd 6.77% of their portfolio | 3.2m $26.1m | Added +700 |
| BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio | 3.1m $25.4m | Added +1.5m |
| Working Capital Advisors (UK) Ltd. 38.14% of their portfolio | 2.7m $22.5m | Added +1.1m |
| HRT FINANCIAL LP 0.08% of their portfolio | 2.5m $21.1m | Added +1.6m |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 2.5m $20.9m | Added +920.9k |
| Robeco Institutional Asset Management B.V. 0.03% of their portfolio | 2.5m $20.5m | Reduced -338.0k |
| Triata Capital Ltd 3.49% of their portfolio | 2.3m $19.2m | Added +313.2k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 2.3m $19.2m | Reduced -5.9m |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio | 2.0m $16.7m | Added +1.9m |
| HSBC HOLDINGS PLC 0.01% of their portfolio | 2.0m $16.3m | Reduced -457.9k |
| Capital World Investors 0.00% of their portfolio | 2.0m $16.4m | New |
| Pinpoint Asset Management (Singapore) Pte. Ltd. 3.73% of their portfolio | 1.9m $15.9m | Reduced -218.7k |
| Legal & General Group Plc 0.00% of their portfolio | 1.8m $15.1m | Added +47.3k |
| CAPITOLIS LIQUID GLOBAL MARKETS LLC 0.09% of their portfolio | 1.7m $14.2m | First filing |
| STATE STREET CORP 0.00% of their portfolio | 1.5m $12.7m | Reduced -334.7k |
| RENAISSANCE TECHNOLOGIES LLC 0.02% of their portfolio | 1.4m $11.6m | New |
| JANUS HENDERSON GROUP PLC 0.01% of their portfolio | 1.4m $11.5m | Reduced -828.7k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.01% of their portfolio | 1.3m $10.4m | First filing |
| OVERSEA-CHINESE BANKING Corp Ltd 0.31% of their portfolio | 1.3m $10.4m | Reduced -284.5k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 1.2m $10.1m | Reduced -128.9k |
| C WorldWide Group Holding A/S 0.20% of their portfolio | 1.1m $9.5m | Reduced -43.4k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 1.0m $8.5m | Added +588.8k |
| BlackRock, Inc. 0.00% of their portfolio | 998.1k $8.3m | Reduced -45.9k |
| NORDEA INVESTMENT MANAGEMENT AB 0.01% of their portfolio | 972.2k $7.9m | Reduced -1.4m |
| HarbourVest Partners LLC 7.88% of their portfolio | 957.6k $7.9m | Unchanged |
| SG Americas Securities, LLC 0.01% of their portfolio | 952.8k $7.9m | Reduced -193.6k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.01% of their portfolio | 908.8k $7.4m | Reduced -2.2m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 885.3k $7.3m | Reduced -93.1k |
| GF FUND MANAGEMENT CO. LTD. 0.12% of their portfolio | 864.4k $7.2m | Added +47.0k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 810.7k $6.7m | Added +135.6k |
| NOTABLE CAPITAL MANAGEMENT, L.L.C. 12.60% of their portfolio | 810.4k $6.7m | Unchanged |
| LMR Partners LLP 0.06% of their portfolio | 804.4k $6.7m | Added +174.2k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 697.7k $5.8m | Unchanged |
| LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio | 653.0k $5.4m | Added +17.3k |
| 1832 Asset Management L.P. 0.01% of their portfolio | 608.1k $5.0m | Added +91.9k |
| BARCLAYS PLC 0.00% of their portfolio | 581.6k $4.8m | Reduced -96.6k |
| California Public Employees Retirement System 0.00% of their portfolio | 579.8k $4.8m | Reduced -82.0k |
| Pictet Asset Management Holding SA 0.00% of their portfolio | 560.0k $4.6m | Reduced -7.8k |
| GSA CAPITAL PARTNERS LLP 0.27% of their portfolio | 525.2k $4.4m | Added +457.6k |
| Yiheng Capital Management, L.P. 1.85% of their portfolio | 513.2k $4.3m | Added +102.1k |
| Boundless Plain Holdings Ltd 1.38% of their portfolio | 510.4k $4.2m | Unchanged |
| AIA Group Ltd 0.06% of their portfolio | 507.5k $4.2m | Reduced -2.6k |
| Tidal Investments LLC 0.01% of their portfolio | 496.7k $4.1m | Added +407.1k |
| BLI - Banque de Luxembourg Investments 0.16% of their portfolio | 482.0k $5.2m | Unchanged |
| TB Alternative Assets Ltd. 0.81% of their portfolio | 468.4k $3.9m | Unchanged |
| Catalyst Funds Management Pty Ltd 0.60% of their portfolio | 427.6k $3.5m | New |
| NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio | 406.0k $3.4m | New |
| VAN ECK ASSOCIATES CORP 0.00% of their portfolio | 395.9k $3.3m | Reduced -67.0k |
| State of New Jersey Common Pension Fund D 0.01% of their portfolio | 372.5k $3.1m | Reduced -126.3k |
| PEAK6 LLC 0.09% of their portfolio | 360.9k $3.0m | Added +353.9k |
| Y-Intercept (Hong Kong) Ltd 0.05% of their portfolio | 347.1k $2.9m | New |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 344.9k $2.9m | Added +36.4k |
| Jain Global LLC 0.04% of their portfolio | 341.7k $2.8m | Added +159.3k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 328.4k $2.7m | Reduced -2.0m |
| Union Bancaire Privee, UBP SA 0.03% of their portfolio | 296.6k $2.2m | Added +100.0k |
| GAM Holding AG 0.21% of their portfolio | 294.6k $2.4m | Reduced -9.1k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 292.4k $2.4m | Added +131.3k |
| Handelsbanken Fonder AB 0.01% of their portfolio | 267.9k $2.2m | New |
| MATTHEWS INTERNATIONAL CAPITAL MANAGEMENT LLC 0.87% of their portfolio | 257.8k $2.1m | Reduced -1.0m |
| Harvest Fund Management Co., Ltd 0.09% of their portfolio | 248.4k $2.1m | Reduced -738.1k |
| B. Metzler seel. Sohn & Co. AG 0.02% of their portfolio | 216.4k $1.8m | Reduced -82.9k |
| Limestone Investment Advisors LP 0.79% of their portfolio | 195.4k $1.6m | Unchanged |
| XTX Topco Ltd 0.03% of their portfolio | 190.2k $1.6m | Added +116.5k |