On February 17, 2026, Beacon Light Capital announced a complete withdrawal. Full Truck Alliance (NYSE:YMM)sold 458,277 shares which were previously worth $5.94 million.
Beaconlight Capital sold a total of 458,277 shares of Full Truck Alliance during the 4th quarter, according to a filing with the Securities and Exchange Commission (SEC) dated February 17, 2026. The fund reported holding zero shares of YMM at quarter end, decreasing the value of the position by $5.94 million over the period.
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Top properties after filing:
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NYSE:CSTM: $25.26 million (14.8% of AUM)
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NYSE:REZI: $24.35 million (14.2% of AUM)
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NYSE:SXT: $12.97 million (7.6% AUM)
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NYSE:GPOR: $9.69 million (5.7% of AUM)
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NYSE:TECK: $9.16 million (5.3% of AUM)
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As of February 17, 2026, Full Truck Alliance shares were priced at $9, down nearly 25% from last year and outperforming the S&P 500’s nearly 20% gain over the same period.
|
Matric |
value |
|---|---|
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Price (Thursday) |
$9 |
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Market capitalization |
9.4 billion dollars |
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Revenue (TTM) |
1.81 billion dollars |
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net income (TTM) |
576.01 million dollars |
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Full Truck Alliance offers a digital shipping platform that offers shipment listing, matching, brokerage, online shipping services, and value-added offerings such as credit, insurance, product collection, and energy services.
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The company earns money by receiving fees from facilitating transactions between shippers and shippers, freight brokerage, online services, and ancillary financial and technology solutions.
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It serves shippers and truckers throughout China, targeting businesses and individuals who need to transport cargo over various distances and types of cargo.
Full Truck Alliance operates at scale as the leading digital shipping platform in China, connecting shippers and shippers through technology-driven solutions. Its integrated platform enables seamless cargo matching and transaction execution, supported by a suite of value-added services.
Shares of Full Truck Alliance have taken a bit of a beating amid intense investor scrutiny surrounding China-based stocks, but the company continues to expand its ecosystem in China’s trucking market. In 2025, revenue rose 11% to about $1.79 billion while net income rose 43% to about $637 million, reflecting strong profitability for the marketplace-style logistics platform. Activity on the network is also growing, with more than 236 million completed orders during the year and average monthly shipping users exceeding 3 million.
This metric suggests that the Corvette engine platform remains healthy even as its stock has struggled. Logistics marketplaces often face cyclical pressures associated with shipping demand, but their core networks can remain resilient as long as users continue to ship. In a statement, CEO Peter Hui Zhang acknowledged a “complex market environment” but pointed to improvements in user experience and profitability during the quarter.
All of this is to say that the exit here doesn’t necessarily seem like a definitive call on the company’s prospects, perhaps some skepticism surrounding its wider ecosystem.
