First Beijing Investment Ltd — 13F Holdings & Portfolio
CIK 1701717 · latest 13F-HR filed 2026-08-12
First Beijing Investment Ltd manages $2.44B in 13F-reported U.S. long-equity assets across 11 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are YMM (30.50%), PDD (29.27%), EDU (16.41%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 1 new position, exited 2, added to 4, and trimmed 5.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$2.44B
Long-equity book
11
Distinct positions
2026-06-30
Filed 2026-08-12
+1 / −2 / ↑4 / ↓5
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
| Name | Title / Status | Ownership | Type |
|---|
Quarter-over-quarter changes
Share-count changes vs the prior 13F.
Top Adds (vs prior quarter)
- SEA LTD$280.6M +1621.8%
- KASPI KZ JSC$4.6M +14.3%
- BAOZUN INC$163.0K +15.3%
- ZHIHU INC$159.8K +10.2%
Top Trims
- PDD HOLDINGS INC-$117.4M -14.1%
- NEW ORIENTAL ED & TECHNOLOGY-$108.4M -21.3%
- RLX TECHNOLOGY INC-$18.6M -14.1%
- DINGDONG CAYMAN LTD-$972.8K -44.7%
- NOAH HLDGS LTD-$960.7K -71.4%
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | FULL TRUCK ALLIANCE CO LTD | YMM | 35969L108 | $745.3M | 30.50% | 91,790,875 | SH |
| 2 | PDD HOLDINGS INC | PDD | 722304102 | $715.3M | 29.27% | 9,377,416 | SH |
| 3 | NEW ORIENTAL ED & TECHNOLOGY | EDU | 647581206 | $401.0M | 16.41% | 8,733,979 | SH |
| 4 | SEA LTD | SE | 81141R100 | $297.9M | 12.19% | 3,109,067 | SH |
| 5 | FUTU HLDGS LTD | FUTU | 36118L106 | $129.3M | 5.29% | 1,379,102 | SH |
| 6 | RLX TECHNOLOGY INC | RLX | 74969N103 | $113.7M | 4.65% | 59,821,839 | SH |
| 7 | KASPI KZ JSC | KSPI | 48581R205 | $36.8M | 1.51% | 424,613 | SH |
| 8 | ZHIHU INC | ZH | 98955N207 | $1.7M | 0.07% | 551,048 | SH |
| 9 | BAOZUN INC | BZUN | 06684L103 | $1.2M | 0.05% | 432,828 | SH |
| 10 | DINGDONG CAYMAN LTD | DDL | 25445D101 | $1.2M | 0.05% | 622,432 | SH |
| 11 | NOAH HLDGS LTD | NOAH | 65487X102 | $385.6K | 0.02% | 38,595 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-12 | $2.44B | 11 | 0001701717-26-000011 |
| 2026-03-31 | 2026-05-13 | $2.32B | 12 | 0001701717-26-000010 |
| 2025-12-31 | 2026-02-17 | $2.54B | 8 | 0001701717-26-000005 |
| 2025-09-30 | 2025-11-14 | $2.59B | 8 | 0001701717-25-000020 |
162 QUEENS ROAD, CENTRAL
HONG KONG 999077