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First Beijing Investment Ltd
hedge fundUpdated 29 days agoManaged by First Beijing Investment Ltd • Latest filing Q2 2026
Portfolio value
$2.4B
Q2 2026
Filings
13
Quarterly 13F history
Top-10 concentration
100.0%
Weight of largest holdings
Annualized return
179.0%
Implied from 13F holdings
Portfolio value history
13F-disclosed portfolio value over 13 quarters
Show data table
| Period | Portfolio value |
|---|---|
| Q2 2023 | $331.3M |
| Q3 2023 | $519.3M |
| Q4 2023 | $604.4M |
| Q1 2024 | $519.5M |
| Q2 2024 | $924.3M |
| Q3 2024 | $1.4B |
| Q4 2024 | $1.4B |
| Q1 2025 | $1.5B |
| Q2 2025 | $1.8B |
| Q3 2025 | $2.6B |
| Q4 2025 | $2.5B |
| Q1 2026 | $2.3B |
| Q2 2026 | $2.4B |
Top holdings
11 positions as of Q2 2026
| # | Stock | Value | Shares | % Portfolio | Change |
|---|---|---|---|---|---|
| 1 | Y YMM FULL TRUCK ALLIANCE CO LTD | $745.3M | 91.79M | 30.50% | — |
| 2 | P PDD PDD HOLDINGS INC | $715.3M | 9.38M | 29.27% | — |
| 3 | N NWOEF NEW ORIENTAL ED & TECHNOLOGY | $401M | 8.73M | 16.41% | — |
| 4 | S SE SEA LTD | $297.9M | 3.11M | 12.19% | — |
| 5 | F FUTU FUTU HLDGS LTD | $129.3M | 1.38M | 5.29% | — |
| 6 | R RLX RLX TECHNOLOGY INC | $113.7M | 59.82M | 4.65% | — |
| 7 | ? N/A KASPI KZ JSC | $36.8M | 424.6K | 1.51% | — |
| 8 | Z ZHIHF ZHIHU INC | $1.7M | 551.0K | 0.07% | — |
| 9 | B BZUN BAOZUN INC | $1.2M | 432.8K | 0.05% | — |
| 10 | D DDL DINGDONG CAYMAN LTD | $1.2M | 622.4K | 0.05% | — |
| 11 | N NOAH NOAH HLDGS LTD | $386K | 38.6K | 0.02% | — |