Full Truck Alliance
203 hedge funds and large institutions have $5.96B invested in Full Truck Alliance in 2026 Q1 according to their latest regulatory filings, with 42 funds opening new positions, 69 increasing their positions, 67 reducing their positions, and 47 closing their positions.
16% more call options, than puts
Call options by funds: $13M | Put options by funds: $11.2M
3% more repeat investments, than reductions
Existing positions increased: 69 | Existing positions reduced: 67
2.69% less ownership
Funds ownership: 79.2% → 76.51% (-2.7%)
4% less funds holding
Funds holding: 211 → 203 (-8)
11% less first-time investments, than exits
New positions opened: 42 | Existing positions closed: 47
22% less funds holding in top 10
Funds holding in top 10: 27 → 21 (-6)
25% less capital invested
Capital invested by funds: $7.98B → $5.96B (-$2.02B)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FBIL
First Beijing Investment Ltd
Hong Kong
|
+$127M |
| 2 |
GAMH
Greenwoods Asset Management (HK)
Hong Kong
|
+$118M |
| 3 |
DSA
Davis Selected Advisers
Tucson,
Arizona
|
+$107M |
| 4 |
D.E. Shaw & Co
New York
|
+$97.3M |
| 5 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
+$68.5M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KCMH
Kontiki Capital Management (HK)
Hong Kong
|
-$219M |
| 2 |
Fidelity Investments
Boston,
Massachusetts
|
-$207M |
| 3 |
Capital International Investors
Los Angeles,
California
|
-$177M |
| 4 |
Schroder Investment Management Group
London,
United Kingdom
|
-$125M |
| 5 |
Wellington Management Group
Boston,
Massachusetts
|
-$55.9M |
YMM Hedge Fund Activity: Q1 2026 in Review
203 of the 8,131 institutional investors tracked by Wall St. Rank reported a position in Full Truck Alliance (YMM) for Q1 2026, worth a combined $5.96B — down 25% from $7.98B a quarter earlier.
Sellers outnumbered buyers: 47 funds closed out of YMM and 42 opened new positions — a net loss of 5 holders — while 67 trimmed existing stakes and 69 added.
The largest buyer was First Beijing Investment Ltd, adding an estimated $127M. The largest seller was Kontiki Capital Management (HK), exiting entirely with an estimated $219M sold.
- 203 institutional investors held Full Truck Alliance (YMM) as of Q1 2026, down from 211 in Q4 2025.
- Funds reported $5.96B of Full Truck Alliance stock for Q1 2026, down 25% quarter-over-quarter.
- 42 funds opened new Full Truck Alliance positions in Q1 2026 and 47 closed out, a net change of -5 holders.
- The largest Full Truck Alliance buyer in Q1 2026 was First Beijing Investment Ltd, an estimated $127M added.
- The largest Full Truck Alliance seller in Q1 2026 was Kontiki Capital Management (HK), an estimated $219M sold.
Based on aggregated 13F filings for Q1 2026.