Full Truck Alliance
YMM
229 hedge funds and large institutions have $7.93B invested in Full Truck Alliance in 2025 Q2 according to their latest regulatory filings, with 36 funds opening new positions, 93 increasing their positions, 81 reducing their positions, and 52 closing their positions.
34% more capital inflows, than outflows
Capital inflows: $1.14B | Capital outflows: $853M
15% more repeat investments, than reductions
Existing positions increased: 93 | Existing positions reduced: 81
3% more funds holding in top 10
Funds holding in top 10: 29 → 30 (+1)
1.76% more ownership
Funds ownership: 62.48% → 64.23% (+1.8%)
7% less call options, than puts
Call options by funds: $26.1M | Put options by funds: $27.9M
8% less funds holding
Funds holding: 248 → 229 (-19)
31% less first-time investments, than exits
New positions opened: 36 | Existing positions closed: 52
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
First Beijing Investment Ltd
Hong Kong
|
+$114M |
| 2 |
Kontiki Capital Management (HK)
Hong Kong
|
+$107M |
| 3 |
Aspex Management (HK)
Central,
Hong Kong
|
+$84.3M |
| 4 |
Driehaus Capital Management
Chicago,
Illinois
|
+$69.2M |
| 5 |
Fidelity Investments
Boston,
Massachusetts
|
+$56.5M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Farallon Capital Management
San Francisco,
California
|
-$67.6M |
| 2 |
Voloridge Investment Management
Jupiter,
Florida
|
-$57.3M |
| 3 |
Krane Funds Advisors
New York
|
-$45.6M |
| 4 |
JP Morgan Chase
New York
|
-$45.3M |
| 5 |
SB Investment Advisers (UK)
London,
United Kingdom
|
-$44.7M |
YMM Hedge Fund Activity: Q2 2025 in Review
229 of the 7,621 institutional investors tracked by Wall St. Rank reported a position in Full Truck Alliance (YMM) for Q2 2025, worth a combined $7.93B — down 4.8% from $8.33B a quarter earlier.
Sellers outnumbered buyers: 52 funds closed out of YMM and 36 opened new positions — a net loss of 16 holders — while 81 trimmed existing stakes and 93 added.
The largest buyer was First Beijing Investment Ltd, adding an estimated $114M. The largest seller was Farallon Capital Management, cutting an estimated $67.6M.
- 229 institutional investors held Full Truck Alliance (YMM) as of Q2 2025, down from 248 in Q1 2025.
- Funds reported $7.93B of Full Truck Alliance stock for Q2 2025, down 4.8% quarter-over-quarter.
- 36 funds opened new Full Truck Alliance positions in Q2 2025 and 52 closed out, a net change of -16 holders.
- The largest Full Truck Alliance buyer in Q2 2025 was First Beijing Investment Ltd, an estimated $114M added.
- The largest Full Truck Alliance seller in Q2 2025 was Farallon Capital Management, an estimated $67.6M sold.
Based on aggregated 13F filings for Q2 2025.