Q2 2026 13F · SEC CIK 1701717
First Beijing Investment Ltd
Hedge fundFiled 2026-08-12 for Q2 2026. Open the filing ↗ · All SEC filings ↗
- Reported 13F value
- $2.4B
- Reported positions
- 11
- Top holdings a year, 3 yrs
- +20.3%
- Average holding period
- 2.1 yrs
First Beijing Investment Ltd is a hedge fund that reported 11 positions worth $2.4B in its Q2 2026 13F, filed 2026-08-12. Its largest holdings were Full Truck ADR (YMM, 30.5%), Pdd Holdings Inc (PDD, 29.3%), New Oriental Education & Technology Grou (EDU, 16.4%). A portfolio copying its top holdings returned 20.3% a year over the last 3 years, against 21.8% for the S&P 500.
First Beijing Investment Ltd holdings all 11 positions.
Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.
| Stock | % of 13F value | Share change | Reported value |
|---|---|---|---|
| YMMFull Truck ADR | 30.5% | +2.0% | $745.3M |
| PDDPdd Holdings Inc | 29.3% | +15.1% | $715.3M |
| EDUNew Oriental Education & Technology Grou | 16.4% | -2.9% | $401.0M |
| SESea Ltd | 12.2% | +1387.9% | $297.9M |
| FUTUFutu Holdings Ltd | 5.3% | — | $129.3M |
| RLXRlx Technology Inc | 4.7% | -0.5% | $113.7M |
| KSPIKaspi Kz Jsc | 1.5% | -2.2% | $36.8M |
| ZHZhihu Inc - ADR | 0.1% | +0.0% | $1.7M |
| BZUNBaozun Inc | 0.1% | -2.6% | $1.2M |
| DDLDingdong Cayman Ltd | 0.0% | -26.4% | $1.2M |
| NOAHNoah Holdings Ltd | 0.0% | -71.6% | $386K |
What First Beijing Investment Ltd bought and sold in Q2 2026, against Q1 2026.
New positions
- FUTU Futu Holdings Ltd5.3% of 13F
Added to
- SE Sea Ltd+1387.9% shares
- PDD Pdd Holdings Inc+15.1% shares
Reduced
- NOAH Noah Holdings Ltd-71.6% shares
- DDL Dingdong Cayman Ltd-26.4% shares
Sold out
- LEGN Legend Biotech Corpwas 1.8%
- API Agora Incwas 0.0%
Share counts compared with the Q1 2026 13F; a split also changes share counts.
How the holdings did against the S&P 500.
- 1 year
- -14.0% /yr
- S&P 500 +20.1%
- 3 years
- +20.3% /yr
- S&P 500 +21.8%
- 5 years
- —
A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.
Reported 13F value by quarter.
| Quarter | 13F value | Positions |
|---|---|---|
| Q2 2026 | $2.4B | 11 |
| Q1 2026 | $2.3B | 12 |
| Q4 2025 | $2.5B | 8 |
| Q3 2025 | $2.6B | 8 |
| Q2 2025 | $1.8B | 9 |
| Q1 2025 | $1.5B | 8 |
| Q4 2024 | $1.4B | 12 |
| Q3 2024 | $1.4B | 13 |
| Q2 2024 | $924.3M | 9 |
| Q1 2024 | $519.5M | 7 |
| Q4 2023 | $604.4M | 26 |
| Q3 2023 | $519.3M | 11 |
Questions about First Beijing Investment Ltd's portfolio
What stocks does First Beijing Investment Ltd own?
First Beijing Investment Ltd's latest 13F, for Q2 2026 and filed Aug 12, 2026, lists 11 positions worth $2.4B. The largest are Full Truck ADR (YMM) at 30.5%, Pdd Holdings Inc (PDD) at 29.3%, New Oriental Education & Technology Grou (EDU) at 16.4%, Sea Ltd (SE) at 12.2% and Futu Holdings Ltd (FUTU) at 5.3%.
What did First Beijing Investment Ltd buy last quarter?
In Q2 2026, First Beijing Investment Ltd added a new position in Futu Holdings Ltd (FUTU), Sea Ltd (SE) (+1387.9% shares) and Pdd Holdings Inc (PDD) (+15.1% shares), compared with its Q1 2026 filing.
What did First Beijing Investment Ltd sell last quarter?
In Q2 2026, First Beijing Investment Ltd sold all of Legend Biotech Corp (LEGN), sold all of Agora Inc (API), Noah Holdings Ltd (NOAH) (-71.6% shares) and Dingdong Cayman Ltd (DDL) (-26.4% shares), compared with its Q1 2026 filing.
How has First Beijing Investment Ltd's portfolio performed?
A portfolio copying First Beijing Investment Ltd's 20 largest 13F holdings each quarter, from the day each filing was public, returned +20.3% a year over the last 3 years, against +21.8% for the S&P 500. Over 1 year: -14.0% against +20.1%.
When is First Beijing Investment Ltd's next 13F filing due?
13F filings are due 45 days after each quarter ends. First Beijing Investment Ltd's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.