First Beijing Investment Ltd

CIK

1701717

Location

HONG KONG, K3

Portfolio Value

Mid $2,443,833,587

Diversification

Moderately concentrated

Filing Date

Global Rank

#1,191 / 8,700 ▲ 139

Top Industry

Internet Retail 41.5%

3Y Alpha vs SPY

+1.6%

Period ended 3 months ago

Filed Aug 12, 2026 · 33d

13 quarters · since Jun 2023

Clone Performance

Sep 2023–Sep 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+68.5%

SPY

+69.7%

Annualised alpha

-0.3%

Max drawdown

−37.0%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. Returns use comparable raw closes and exclude dividends. Returns are unavailable when a held security or benchmark crosses a captured split without a certified price basis; the requested window is not shortened to hide it. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

11 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

30.5%

−5.4 pts

Top 5

93.7%

−3.9 pts

Top 10

100.0%

+0.0 pts

HHI

2,257

Moderately concentrated−592

Portfolio Trend

13 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Consumer Cyclical	41.5%	$1,014,476,085	3
Technology	32.0%	$782,130,375	2
Consumer Defensive	21.1%	$515,839,762	3
Financial Services	5.3%	$129,662,585	2
Communication Services	0.1%	$1,724,780	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

3 positions

Ticker	Company	Δ Shares	Shares	Value
SE	Sea Ltd	+2,900,104	3,109,067	$297,941,890
YMM	Full Truck Alliance Co. Ltd.	+1,789,980	91,790,875	$745,341,905
PDD	PDD Holdings Inc.	+1,228,254	9,377,416	$715,309,292
No positions match the current search.

Trimmed

Positions the filer reduced

6 positions

Ticker	Company	Δ Shares	Shares	Value
RLX	RLX Technology Inc.	−307,832	59,821,839	$113,661,494
EDU	New Oriental Education & Technology Group Inc.	−261,279	8,733,979	$400,976,975
DDL	Dingdong (Cayman) Ltd	−223,520	622,432	$1,201,293
NOAH	Noah Holdings Ltd	−97,393	38,595	$385,564
BZUN	Baozun Inc.	−11,500	432,828	$1,224,903
KSPI	Joint Stock Co Kaspi.kz	−9,737	424,613	$36,788,470
No positions match the current search.

New Positions

Positions the filer opened this quarter

1 positions

Ticker	Company	Shares	Value	Open
FUTU	Futu Holdings Ltd	1,379,102	$129,277,021
No positions match the current search.

Sold Out

Positions the filer fully exited

2 positions

Ticker	Company	Shares	Value
LEGN	Legend Biotech Corp	2,296,335	$41,540,700
API	Agora, Inc.	7,700	$27,258
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

11 tracked positions · $2,443,833,587 total · filing declares 11 positions · $2,443,833,590 · as of Jun 30, 2026

All sectors Communication Services Consumer Cyclical Consumer Defensive Financial Services Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
YMM	Full Truck Alliance Co. Ltd. Technology	Added	91,790,875	+1,789,980	$745,341,905	−0.2%	30.50%
PDD	PDD Holdings Inc. Consumer Cyclical	Added	9,377,416	+1,228,254	$715,309,292	−14.1%	29.27%
EDU	New Oriental Education & Technology Group Inc. Consumer Defensive	Reduced	8,733,979	-261,279	$400,976,975	−21.3%	16.41%
SE	Sea Ltd Consumer Cyclical	Added	3,109,067	+2,900,104	$297,941,890	+1621.8%	12.19%
FUTU	Futu Holdings Ltd Financial Services	NEW	1,379,102	NEW	$129,277,021	NEW	5.29%
RLX	RLX Technology Inc. Consumer Defensive	Reduced	59,821,839	-307,832	$113,661,494	−14.1%	4.65%
KSPI	Joint Stock Co Kaspi.kz Technology	Reduced	424,613	-9,737	$36,788,470	+14.3%	1.51%
ZH	Zhihu Inc. Communication Services	Held	551,048	0	$1,724,780	+10.2%	0.07%
BZUN	Baozun Inc. Consumer Cyclical	Reduced	432,828	-11,500	$1,224,903	+15.3%	0.05%
DDL	Dingdong (Cayman) Ltd Consumer Defensive	Reduced	622,432	-223,520	$1,201,293	−44.7%	0.05%
NOAH	Noah Holdings Ltd Financial Services	Reduced	38,595	-97,393	$385,564	−71.4%	0.02%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.