Full Truck Alliance Co. Ltd.

YMM • NYSE

Full Truck Alliance Co. Ltd. is a publicly traded company on NYSE, led by Hui Zhang. As of Q3 2025, 198 institutional investors hold shares in this company, with total holdings valued at $8.4B. First Beijing Investment Ltd is the largest holder with a position valued at $890.3M.

CEOHui Zhang

Employees7.6K

Websitefulltruckalliance.com

Overview

Overview of institutional ownership in YMM as of Q3 2025

All Institutions

Institutions: 198
Value Held: $8.4B
Shares Held: 648.3M
Avg Position: $42.4M
Median Position: $2.4M

Hedge Funds

Hedge Funds: 27
Value Held: $489.9M
Shares Held: 37.8M
Avg Position: $18.1M
Median Position: $1.8M

Biggest Investors

Institutions with the largest positions in YMM as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
F First Beijing Investment Ltd Institution	-	$890.3M 34.38% of portfolio	0.00% 68.6M shares	Q3 2024 Held for 1y 3m	$2.6B
F FIL Ltd Institution	-	$821.5M 0.64% of portfolio	0.00% 63.3M shares	Q4 2022 Held for 3 years	$127.75B
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$703.3M 0.11% of portfolio	0.00% 54.2M shares	Q2 2023 Held for 2y 6m	$633.08B
FMR LLC Institution	-	$451.0M 0.02% of portfolio	0.00% 34.8M shares	Q2 2023 Held for 2y 6m	$1.92T
SCHRODER INVESTMENT MANAGEMENT GROUP RIA/Wealth	Toby James Glover CEO	$432.3M 0.34% of portfolio	0.00% 33.3M shares	Q3 2023 Held for 2y 3m	$125.97B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$422.1M 0.01% of portfolio	0.00% 32.5M shares	Q4 2022 Held for 3 years	$6.69T
G Greenwoods Asset Management Hong Kong Ltd. Institution	-	$370.9M 8.36% of portfolio	0.00% 28.6M shares	Q4 2022 Held for 3 years	$4.4B
Krane Funds Advisors LLC ETF Provider	Jonathan Adam Krane CEO	$352.1M 10.01% of portfolio	0.00% 28.2M shares	Q4 2023 Held for 2 years	$3.5B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$303.2M 0.02% of portfolio	0.00% 23.4M shares	Q4 2022 Held for 3 years	$1.65T
JPMORGAN CHASE & CO Institution	Jamie Dimon CEO	$298.6M 0.02% of portfolio	0.00% 23.0M shares	Q2 2023 Held for 2y 6m	$1.56T

Net Capital Flow

Institutional buying and selling activity for YMM in Q3 2025

Traded: +$1.1B
Buyers: 112
Sellers: 105
Total Bought: +$2.2B
Total Sold: −$1.1B
Avg Position: $35.0M

Biggest Buyers

Institution	Net Bought	Current Position
SCHRODER INVESTMENT MANAGEMENT GROUP RIA/Wealth	+$417.4M +32.2M shares	$432.3M 33.3M shares
F First Beijing Investment Ltd Institution	+$378.1M +29.2M shares	$890.3M 68.6M shares
Invesco Ltd. ETF Provider	+$280.5M +21.6M shares	$703.3M 54.2M shares
C Capital International Investors Institution	+$188.2M +14.5M shares	$188.2M 14.5M shares
F FIL Ltd Institution	+$120.2M +9.3M shares	$821.5M 63.3M shares
S SB INVESTMENT ADVISERS LTD Institution	+$89.9M +6.9M shares	$131.3M 10.1M shares
Krane Funds Advisors LLC ETF Provider	+$73.5M +5.9M shares	$352.1M 28.2M shares
M Mitsubishi UFJ Trust & Banking Corp Institution	+$59.8M +4.6M shares	$138.1M 10.6M shares
H Hillhouse Capital Advisors, Ltd. Institution	+$52.7M +4.1M shares	$52.7M 4.1M shares
CAPITAL INTERNATIONAL INC /CA/ Long Only Manager	+$50.1M +3.9M shares	$50.1M 3.9M shares

Biggest Sellers

Institution	Net Sold	Current Position
B BAILLIE GIFFORD & CO Institution	−$171.1M −14.5M shares	Sold Off 0 shares
O OCEANLINK MANAGEMENT LTD. Institution	−$152.2M −11.7M shares	$65.2M 5.0M shares
JPMORGAN CHASE & CO Institution	−$95.2M −7.3M shares	$298.6M 23.0M shares
GOLDMAN SACHS GROUP INC Institution	−$67.1M −5.2M shares	$78.9M 6.1M shares
MORGAN STANLEY RIA/Wealth	−$56.0M −4.3M shares	$303.2M 23.4M shares
N Nuveen, LLC Institution	−$55.2M −4.7M shares	Sold Off 0 shares
FMR LLC Institution	−$46.6M −3.6M shares	$451.0M 34.8M shares
BRILLIANCE ASSET MANAGEMENT Ltd Hedge Fund•Value	−$33.6M −2.8M shares	Sold Off 0 shares
A APG All Pensions Group NV Institution	−$33.5M −3.3M shares	Sold Off 0 shares
C CANADA PENSION PLAN INVESTMENT BOARD Institution	−$32.3M −2.7M shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited YMM in Q3 2025

New Positions: 26
New Value: $338.5M
Exited Positions: 42
Exited Value: $496.9M

New Positions

Institution	Position Value
C Capital International Investors Institution	$188.2M 14.5M shares
CAPITAL INTERNATIONAL INC /CA/ Long Only Manager	$50.1M 3.9M shares
B BRIGHT VALLEY CAPITAL Ltd Institution	$33.4M 2.6M shares
NORDEA INVESTMENT MANAGEMENT AB Institution	$22.2M 1.7M shares
W Working Capital Advisors Ltd. Institution	$9.2M 705.5K shares
LAZARD ASSET MANAGEMENT LLC Long Only Manager	$8.9M 683.6K shares
BARCLAYS PLC Institution	$7.4M 573.6K shares
S State of New Jersey Common Pension Fund D Institution	$4.5M 343.5K shares
C CAPITAL INTERNATIONAL S A Institution	$3.4M 264.5K shares
B BLI - Banque de Luxembourg Investments Institution	$3.4M 262.0K shares

Exited Positions

Institution	Previous Position
B BAILLIE GIFFORD & CO Institution	$171.1M 14.5M shares
N Nuveen, LLC Institution	$55.2M 4.7M shares
BRILLIANCE ASSET MANAGEMENT Ltd Hedge Fund•Value	$33.6M 2.8M shares
A APG All Pensions Group NV Institution	$33.5M 3.3M shares
C CANADA PENSION PLAN INVESTMENT BOARD Institution	$32.3M 2.7M shares
S SYLEBRA CAPITAL LLC Hedge Fund•Long/Short	$26.6M 2.2M shares
K KADENSA CAPITAL Ltd Institution	$23.4M 2.0M shares
FARALLON CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	$18.3M 1.6M shares
PRINCIPAL FINANCIAL GROUP INC Institution	$17.5M 1.5M shares
T Taikang Asset Management Co Ltd Institution	$14.3M 1.2M shares

Options Activity

Institutions with the largest Call and Put options positions in YMM as of Q3 2025

Call Positions: 6
Call Value: $38.5M
Put Positions: 6
Put Value: $12.2M

Call Positions

Institution	Position Value
UBS Group AG Institution	$18.6M 14.4K contracts
J JANE STREET GROUP, LLC Institution	$12.9M 9.9K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$5.0M 3.9K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.9M 1.5K contracts
P PEAK6 LLC Institution	- - contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	- - contracts

Put Positions

Institution	Position Value
P PEAK6 LLC Institution	$5.8M 4.5K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$3.5M 2.7K contracts
J JANE STREET GROUP, LLC Institution	$1.9M 1.5K contracts
W WOLVERINE TRADING, LLC Institution	$351.9K 269.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$294.4K 227.0 contracts
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	$264.6K 204.0 contracts

Most Committed Institutions

Institutions with YMM as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Newport Asia LLC Hedge Fund•Growth	Christopher Hayden Legallet Managing Partner	100.00% $1.7M	0.00% 132.0K shares	Q3 2025 Held for 3 months	$1.7M
EMPOWER HARVEST MANAGEMENT SERVICES, INC. Pension/Endowment	Jonathan David Kreider CEO	100.00% $116.3M	0.00% 9.0M shares	Q4 2024 Held for 1 year	$116.3M
All-Stars Investment Ltd Institution	Alan Russel Hodgson President	87.59% $286.6M	0.00% 22.1M shares	Q2 2023 Held for 2y 6m	$327.2M
F First Beijing Investment Ltd Institution	-	34.38% $890.3M	0.00% 68.6M shares	Q3 2024 Held for 1y 3m	$2.6B
B BRIGHT VALLEY CAPITAL Ltd Institution	-	26.37% $33.4M	0.00% 2.6M shares	Q3 2025 Held for 3 months	$126.5M
B Blue Creek Capital Management Ltd Institution	-	24.85% $20.2M	0.00% 1.6M shares	Q3 2024 Held for 1y 3m	$81.3M
N North of South Capital LLP Hedge Fund•Long/Short	Matthew Alan Linsey CEO	13.22% $137.6M	0.00% 10.6M shares	Q3 2024 Held for 1y 3m	$1.0B
O OCEANLINK MANAGEMENT LTD. Institution	-	11.50% $65.2M	0.00% 5.0M shares	Q2 2024 Held for 1y 6m	$566.8M
W Working Capital Advisors Ltd. Institution	-	10.94% $9.2M	0.00% 705.5K shares	Q3 2025 Held for 3 months	$83.6M
K Kontiki Capital Management Ltd. Institution	-	10.59% $199.1M	0.00% 15.3M shares	Q1 2025 Held for 9 months	$1.9B