Investing

Chairman and Co-Founder Mo Chen Doubles Position in Autonomous Truck Company TuSimple (TSP)

Fintel reports that Mo Chen has filed a 13D form with the SEC disclosing ownership of 43,734,628 shares of TuSimple Holdings Inc. Class A (TSP). This represents 19.5% of the company.

In their previous filing dated February 14, 2022 they reported 18,367,314 shares and 9.10% of the company, an increase in shares of 138.11% and an increase in total ownership of 10.40% (calculated as current – previous percent ownership).

TuSimple is a global autonomous driving technology company, headquartered in San Diego, California, with operations in Arizona, Texas, China, Japan and Europe. Founded in 2015, TuSimple is developing a commercial-ready Level 4 (SAE) fully autonomous driving solution for long-haul heavy-duty trucks.

TuSimple aims to transform the $4 trillion global truck freight industry through the company’s leading proprietary AI technology, which makes it possible for trucks to see 1,000 meters away, operate nearly continuously and consume 10% less fuel than manually driven trucks.

What are other large shareholders doing?

ARK Investment Management LLC holds 16,099,348 shares representing 7.15% ownership of the company. In it’s prior filing, the firm reported owning 13,564,321 shares, representing an increase of 15.75%. The firm increased its portfolio allocation in TSP by 29.49% over the last quarter.

COMPOSITE CAPITAL MANAGEMENT (HK) Ltd holds 9,228,723 shares representing 4.10% ownership of the company. No change in the last quarter.

Nikko Asset Management Americas, Inc. holds 5,985,209 shares representing 2.66% ownership of the company. In it’s prior filing, the firm reported owning 5,441,206 shares, representing an increase of 9.09%. The firm increased its portfolio allocation in TSP by 20.79% over the last quarter.

Sumitomo Mitsui Trust Holdings, Inc. holds 5,985,209 shares representing 2.66% ownership of the company. In it’s prior filing, the firm reported owning 5,441,206 shares, representing an increase of 9.09%. The firm increased its portfolio allocation in TSP by 22.42% over the last quarter.

State Street Corp holds 4,143,505 shares representing 1.84% ownership of the company. In it’s prior filing, the firm reported owning 2,548,461 shares, representing an increase of 38.50%. The firm increased its portfolio allocation in TSP by 80.41% over the last quarter.

What is the overall institutional sentiment?

There are 381 funds or institutions reporting positions in TuSimple Holdings Inc. Class A. This is an increase of 44 owner(s) or 13.06%.

Average portfolio weight of all funds dedicated to TuSimple Holdings Inc. Class A is 0.0585%, an increase of 5.0690%. Total shares owned by institutions increased in the last three months by 6.80% to 112,788,845 shares.

Based on this information, institutional sentiment is bullish.

This article originally appeared on Fintel

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