First Beijing Investment Ltd

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), First Beijing Investment Ltd reported 9 stock positions worth $924.3 million. Its top holding was PDD (PDD) at 40.0% of the portfolio, followed by Sea Ltd.-ADR (SE, 37.3%) and Qfin Holdings Inc.-ADR (QFIN, 5.8%). Compared with Q1 2024, it opened 2 new positions, added to 4 and reduced 2. The biggest buy was Atour Lifestyle Holdings-ADR (ATAT, shares +7789%) and the biggest sale Qfin Holdings Inc.-ADR (QFIN, shares −11%).

Most Recent 13F
Q2 2026
Location
HONG KONG, K3
CIK
0001701717
Portfolio Value
$924.3M (Q2 2024)
SEC Filing
0001701717-24-000004 ↗ filed Aug 14, 2024

Holdings Value

0$1.0B$2.0B$3.0B Q1 2024: $519.5M Q1 2024 Q2 2024: $924.3M $924.3M Q2 2024 Q3 2024: $1.4B Q3 2024 Q4 2024: $1.4B Q4 2024 Q1 2025: $1.5B Q1 2025 Q2 2025: $1.8B Q2 2025 Q3 2025: $2.6B Q3 2025 Q4 2025: $2.5B Q4 2025 Q1 2026: $2.3B Q1 2026 Q2 2026: $2.4B Q2 2026

Holdings 9 stocks · $924.3M
PDD PDD Holdings Inc. 40.05% 2,784,180 $370.2M Add +52.5%
SE Sea Ltd.-ADR 37.25% 4,821,080 $344.3M Add +47.8%
QFIN Qfin Holdings Inc.-ADR filed as QIFU TECHNOLOGY INC 5.84% 2,736,280 $54.0M Reduce -10.5%
RLX RLX Technology Inc.-ADR 4.24% 21,281,184 $39.2M Add +52.3%
ATAT Atour Lifestyle Holdings-ADR 4.07% 2,051,093 $37.6M Add +7788.8%
BILI Bilibili Inc.-Sponsored ADR 3.23% 1,933,086 $29.8M Reduce -8.9%
LI Li Auto Inc. - ADR 3.19% 1,648,062 $29.5M New
DASH DoorDash Inc. Class A 2.11% 178,869 $19.5M No change
ZK Zeekr Intelligent Techno-ADR 0.03% 12,982 $245K New

Portfolio Sells Q1 2024 → Q2 2024
QFIN Qfin Holdings Inc.-ADR Reduce -10.5% 5.84% −5.01
BILI Bilibili Inc.-Sponsored ADR Reduce -8.9% 3.23% −1.35

Portfolio Buys Q1 2024 → Q2 2024
ATAT Atour Lifestyle Holdings-ADR Add +7788.8% 4.07% +3.98
SE Sea Ltd.-ADR Add +47.8% 37.25% +3.54
LI Li Auto Inc. - ADR New 3.19% +3.19
ZK Zeekr Intelligent Techno-ADR New 0.03% +0.03
PDD PDD Holdings Inc. Add +52.5% 40.05% −0.82
RLX RLX Technology Inc.-ADR Add +52.3% 4.24% −0.93

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 11$2.4BYMM, PDD, EDU, SE, FUTU
Q1 2026 12$2.3BPDD, YMM, EDU, RLX, LEGN
Q4 2025 8$2.5BYMM, PDD, EDU, ATAT, RLX
Q3 2025 8$2.6BYMM, PDD, EDU, ATAT, RLX
Q2 2025 9$1.8BPDD, YMM, EDU, ATAT, RLX
Q1 2025 8$1.5BPDD, YMM, EDU, ATAT, SE
Q4 2024 12$1.4BPDD, YMM, SE, ATAT, VIPS
Q3 2024Amended 13$1.4BPDD, SE, ATAT, YMM, VIPS
Q2 2024 9$924.3MPDD, SE, QFIN, RLX, ATAT
Q1 2024 7$519.5MPDD, SE, QFIN, RLX, DASH