Full Truck Alliance
211 hedge funds and large institutions have $7.98B invested in Full Truck Alliance in 2025 Q4 according to their latest regulatory filings, with 32 funds opening new positions, 76 increasing their positions, 75 reducing their positions, and 47 closing their positions.
405% more call options, than puts
Call options by funds: $13.5M | Put options by funds: $2.67M
2.55% more ownership
Funds ownership: 76.65% → 79.2% (+2.5%)
1% more repeat investments, than reductions
Existing positions increased: 76 | Existing positions reduced: 75
0% more funds holding in top 10
Funds holding in top 10: 27 → 27 (0)
8% less funds holding
Funds holding: 229 → 211 (-18)
14% less capital invested
Capital invested by funds: $9.24B → $7.98B (-$1.26B)
32% less first-time investments, than exits
New positions opened: 32 | Existing positions closed: 47
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Schroder Investment Management Group
London,
United Kingdom
|
+$174M |
| 2 |
OCM
OLP Capital Management
Causeway Bay,
Hong Kong
|
+$120M |
| 3 |
UBS Group
Zurich,
Switzerland
|
+$98.6M |
| 4 |
Wellington Management Group
Boston,
Massachusetts
|
+$98.2M |
| 5 |
FBIL
First Beijing Investment Ltd
Hong Kong
|
+$95.6M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
-$156M |
| 2 |
Morgan Stanley
New York
|
-$103M |
| 3 |
JP Morgan Chase
New York
|
-$58.7M |
| 4 |
SIAU
SB Investment Advisers (UK)
London,
United Kingdom
|
-$58.2M |
| 5 |
HA
HHLR Advisors
Grand Cayman,
Cayman Islands
|
-$52.7M |
YMM Hedge Fund Activity: Q4 2025 in Review
211 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in Full Truck Alliance (YMM) for Q4 2025, worth a combined $7.98B — down 14% from $9.24B a quarter earlier.
Sellers outnumbered buyers: 47 funds closed out of YMM and 32 opened new positions — a net loss of 15 holders — while 75 trimmed existing stakes and 76 added.
The largest buyer was Schroder Investment Management Group, adding an estimated $174M. The largest seller was Fidelity Investments, cutting an estimated $156M.
- 211 institutional investors held Full Truck Alliance (YMM) as of Q4 2025, down from 229 in Q3 2025.
- Funds reported $7.98B of Full Truck Alliance stock for Q4 2025, down 14% quarter-over-quarter.
- 32 funds opened new Full Truck Alliance positions in Q4 2025 and 47 closed out, a net change of -15 holders.
- The largest Full Truck Alliance buyer in Q4 2025 was Schroder Investment Management Group, an estimated $174M added.
- The largest Full Truck Alliance seller in Q4 2025 was Fidelity Investments, an estimated $156M sold.
Based on aggregated 13F filings for Q4 2025.