Kontiki Capital Management Sells Full Truck Alliance Stake
On May 15, 2026, Kontiki Capital Management (HK) Ltd. completely divested its holdings in Full Truck Alliance, selling over 20 million shares for an approximate total of $193.84 million, as reported by Detik Finance.
A filing with the Securities and Exchange Commission (SEC) dated the same day disclosed that Kontiki Capital had liquidated all 20,380,969 shares of the digital freight company. The estimation of the transaction’s value was based on the average closing price from the first quarter of 2026, shifting the total net position value by $218.69 million.
Remaining Portfolio Holdings
Post the complete divestment from Full Truck Alliance, the top three remaining investments in Kontiki Capital Management’s portfolio are Nu Holdings, Coupang, and H World Group. Nu Holdings holds the top position at $469.10 million, followed by Coupang at $223.90 million, and H World Group at $177.79 million.
Stock Performance
As of the previous Friday, Full Truck Alliance shares were trading at $8.82, reflecting a 24 percent decrease over the last year. This underperformance contrasts sharply with the S&P 500 index, which saw an increase of about 28 percent during the same twelve-month period.
Company Financials
Despite the declining stock prices, the China-based logistics firm has reported trailing twelve-month revenue of $1.83 billion and a net income of $645.43 million. Revenue is generated through transaction fees, commissions on value-added services, and technology developments for participants in the shipping and trucking sectors.
Mixed Results in Q1
Financial reports show mixed outcomes for the first quarter, with a 5.5 percent year-over-year revenue growth to $412.9 million. Fulfilled orders increased by 14.3 percent to 55 million, while the average monthly active users among shippers rose by 12.7 percent to 3.11 million clients.
Service Revenue Trends
Shifts in platform activity have leaned towards higher-value services, resulting in a 33 percent increase in revenue from transaction services and a similar rise in operating cash flow to $202 million. However, net income fell by 22 percent year over year to $144.1 million, with revenue forecasts for the second quarter indicating a period of slow growth.
