First Beijing Investment Ltd — 13F Holdings & Portfolio
CIK 1701717 · latest 13F-HR filed 2026-05-13
First Beijing Investment Ltd manages $2.32B in 13F-reported U.S. long-equity assets across 12 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are PDD (35.91%), YMM (32.22%), EDU (21.97%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 5 new positions, exited 1, added to 2, 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.
$2.32B
Long-equity book
12
Distinct positions
2026-03-31
Filed 2026-05-13
+5 / −1 / ↑2 / ↓5
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Trims
- FULL TRUCK ALLIANCE CO LTD-$75.1M -9.1%
- NEW ORIENTAL ED & TECHNOLOGY-$46.7M -8.4%
- RLX TECHNOLOGY INC-$14.2M -9.7%
- NOAH HLDGS LTD-$2.6M -65.8%
- AGORA INC-$13.0K -32.4%
New Positions
- LEGEND BIOTECH CORP$41.5M
- SEA LTD$17.3M
- DINGDONG CAYMAN LTD$2.2M
- ZHIHU INC$1.6M
- BAOZUN INC$1.1M
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 | PDD HOLDINGS INC | PDD | 722304102 | $832.7M | 35.91% | 8,149,162 | SH |
| 2 | FULL TRUCK ALLIANCE CO LTD | YMM | 35969L108 | $747.0M | 32.22% | 90,000,895 | SH |
| 3 | NEW ORIENTAL ED & TECHNOLOGY | EDU | 647581206 | $509.4M | 21.97% | 8,995,258 | SH |
| 4 | RLX TECHNOLOGY INC | RLX | 74969N103 | $132.3M | 5.71% | 60,129,671 | SH |
| 5 | LEGEND BIOTECH CORP | LEGN | 52490G102 | $41.5M | 1.79% | 2,296,335 | SH |
| 6 | KASPI KZ JSC | KSPI | 48581R205 | $32.2M | 1.39% | 434,350 | SH |
| 7 | SEA LTD | SE | 81141R100 | $17.3M | 0.75% | 208,963 | SH |
| 8 | DINGDONG CAYMAN LTD | DDL | 25445D101 | $2.2M | 0.09% | 845,952 | SH |
| 9 | ZHIHU INC | ZH | 98955N207 | $1.6M | 0.07% | 551,048 | SH |
| 10 | NOAH HLDGS LTD | NOAH | 65487X102 | $1.3M | 0.06% | 135,988 | SH |
| 11 | BAOZUN INC | BZUN | 06684L103 | $1.1M | 0.05% | 444,328 | SH |
| 12 | AGORA INC | API | 00851L103 | $27.3K | 0.00% | 7,700 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 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 |