First Beijing Investment Ltd
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 31, 2024), First Beijing Investment Ltd reported 13 stock positions worth $1.4 billion. Its top holding was PDD (PDD) at 35.2% of the portfolio, followed by Sea Ltd.-ADR (SE, 17.6%) and Atour Lifestyle Holdings-ADR (ATAT, 10.7%). Compared with Q2 2024, it opened 4 new positions, added to 4 and reduced 3. The biggest buy was a new position in Full Truck Alliance -SPN ADR (YMM) and the biggest sale Sea Ltd.-ADR (SE, shares −47%).
- Most Recent 13F
- Q2 2026
- Location
- HONG KONG, K3
- CIK
- 0001701717
- Portfolio Value
- $1.4B (Q3 2024)
- SEC Filing
- 0001701717-24-000007 ↗ filed Oct 31, 2024
Holdings Value
Holdings 13 stocks · $1.4B
| PDD PDD Holdings Inc. | 35.19% | 3,554,719 | $479.2M | Add +27.7% |
| SE Sea Ltd.-ADR | 17.57% | 2,537,398 | $239.2M | Reduce -47.4% |
| ATAT Atour Lifestyle Holdings-ADR | 10.74% | 5,639,562 | $146.3M | Add +174.9% |
| YMM Full Truck Alliance -SPN ADR | 9.09% | 13,740,729 | $123.8M | New |
| VIPS Vipshop Holdings Ltd. - ADR | 8.82% | 7,640,288 | $120.2M | New |
| BILI Bilibili Inc.-Sponsored ADR | 6.51% | 3,793,582 | $88.7M | Add +96.2% |
| RLX RLX Technology Inc.-ADR | 3.78% | 28,440,248 | $51.5M | Add +33.6% |
| LI Li Auto Inc. - ADR | 2.36% | 1,254,400 | $32.2M | Reduce -23.9% |
| MOMO Hello Group Inc. -SPN ADR | 2.26% | 4,043,817 | $30.8M | New |
| DASH DoorDash Inc. Class A | 1.87% | 178,869 | $25.5M | No change |
| QFIN Qfin Holdings Inc.-ADR filed as QIFU TECHNOLOGY INC | 1.67% | 763,509 | $22.8M | Reduce -72.1% |
| NOAH Noah Holdings Ltd.-Spon ADS filed as NOAH HLDGS LTD | 0.11% | 124,149 | $1.5M | New |
| ZK Zeekr Intelligent Techno-ADR | 0.02% | 12,982 | $289K | No change |
Portfolio Sells Q2 2024 → Q3 2024
Portfolio Buys Q2 2024 → Q3 2024
| YMM Full Truck Alliance -SPN ADR | New | 9.09% | +9.09 |
| VIPS Vipshop Holdings Ltd. - ADR | New | 8.82% | +8.82 |
| ATAT Atour Lifestyle Holdings-ADR | Add +174.9% | 10.74% | +6.67 |
| BILI Bilibili Inc.-Sponsored ADR | Add +96.2% | 6.51% | +3.28 |
| MOMO Hello Group Inc. -SPN ADR | New | 2.26% | +2.26 |
| NOAH Noah Holdings Ltd.-Spon ADS | New | 0.11% | +0.11 |
| RLX RLX Technology Inc.-ADR | Add +33.6% | 3.78% | −0.46 |
| PDD PDD Holdings Inc. | Add +27.7% | 35.19% | −4.86 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 11 | $2.4B | YMM, PDD, EDU, SE, FUTU |
| Q1 2026 | 12 | $2.3B | PDD, YMM, EDU, RLX, LEGN |
| Q4 2025 | 8 | $2.5B | YMM, PDD, EDU, ATAT, RLX |
| Q3 2025 | 8 | $2.6B | YMM, PDD, EDU, ATAT, RLX |
| Q2 2025 | 9 | $1.8B | PDD, YMM, EDU, ATAT, RLX |
| Q1 2025 | 8 | $1.5B | PDD, YMM, EDU, ATAT, SE |
| Q4 2024 | 12 | $1.4B | PDD, YMM, SE, ATAT, VIPS |
| Q3 2024Amended | 13 | $1.4B | PDD, SE, ATAT, YMM, VIPS |
| Q2 2024 | 9 | $924.3M | PDD, SE, QFIN, RLX, ATAT |
| Q1 2024 | 7 | $519.5M | PDD, SE, QFIN, RLX, DASH |