Yong Rong Asset Management sold 478,200 shares of Futu Holdings Limited, a position that represented 14.3 % of the fund’s assets under management. The sale, valued at $59.1 million, was executed at $181.36 per share on November 4, 2025, a price that reflects a 125.2 % year‑to‑date gain and an outperformance of the S&P 500 by 110 percentage points.
The transaction is widely interpreted as a profit‑taking move following a sharp rally. Futu’s financials have been robust: Q4 2024 revenue rose 86.8 % YoY to $4.43 billion, net income climbed 113.3 % to $0.53 billion, and Q1 2025 revenue grew 81.1 % to $3.86 billion with net income up 107 % to $0.46 billion. These results demonstrate sustained demand for the company’s brokerage and wealth‑management services, suggesting the sale was a portfolio rebalancing rather than a signal of weakness.
Institutional ownership of Futu fell from 14.3 % to 0 % after the transaction, reducing the number of large holders that can provide long‑term support. While the overall institutional base remains substantial, the change may modestly affect liquidity dynamics, though no immediate market reaction has been observed.
Analysts continue to view Futu’s growth trajectory positively, citing strong client acquisition and expanding product offerings. The company’s management has highlighted the 2024 year as a breakthrough period, with CEO Leaf Hua Li emphasizing continued momentum in global expansion and technology‑driven services.
The sale appears to be a routine rebalancing by Yong Rong rather than a reflection of any fundamental concern about Futu. The company’s earnings momentum and strategic initiatives remain on track, and the transaction does not alter the broader outlook for the business.
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