Dallas-based Highlander Partners sold 260,000 shares of Full Truck Alliance in the third quarter, reducing exposure by $1.65 million. The fund still holds 1.23 million YMM shares valued at $15.93 million, ranking as the fifth-largest position. YMM shares were priced at $11.25 on Friday, up 4% in the past year.

Highlander Partners reported selling shares of Full Truck Alliance Co. Ltd. in the third quarter, reducing its position by 260,000 shares and $1.65 million in value. Despite the reduction, YMM remains the fund’s fifth-largest holding. The company operates as a leading digital freight platform in China, connecting shippers and truckers efficiently.

Highlander Partners’ top holdings include NYSE:BX at $81.84 million, NYSE:VRT at $53.34 million, and NYSE:BABA at $30.78 million. Full Truck Alliance offers digital freight services in China, generating revenue primarily through transaction fees and value-added services. The company posted third-quarter revenue of $472 million, with strong growth in transaction services and order volumes.

Trimming its position in Full Truck Alliance suggests portfolio calibration, not capitulation, as the stock was up 22% year-to-date. The company reported revenue growth in the third quarter, driven by transaction services. Net income declined due to increased operating costs and technology investment. The holding reflects a targeted bet on digital infrastructure in China.

Read more at Yahoo Finance: Why a $1.6 Million Trim Didn’t Knock This $16 Million China Logistics Bet Off Course