2026 Q1 Portfolio Activity
In 2026 Q1, First Beijing Investment Ltd maintained a portfolio of 13 distinct positions. The most significant new addition was LEGEND BIOTECH CORP, now representing 1.79% of the total fund value. They heavily accumulated shares in PDD HOLDINGS INC, increasing the position by 20.1%. Conversely, First Beijing Investment Ltd completely exited their position in ATOUR LIFESTYLE HOLDINGS LTD.
Position History
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Total Positions
13
Quarter
2026 Q1
Top Holding
PDD (35.9%)
Top 10 Concentration
100.0%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-13 of 13
First Beijing Investment Ltd Full Holdings List — 2026 Q1
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
PDD
PDD HOLDINGS IN...
|
Consumer Cyclical | 35.91% | 30.33% |
#1
1
Prev: #2
|
8.5 |
—
|
1,366,207 | 20.1% |
P
S
|
8,149,162 | $832,681,373 | 2023 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
YMM
FULL TRUCK ALLI...
|
Technology | 32.22% | 32.42% |
#2
1
Prev: #1
|
7.5 |
—
|
13,384,327 | 17.5% |
P
S
|
90,000,895 | $747,007,429 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
EDU
NEW ORIENTAL ED...
|
Consumer Defensive | 21.97% | 21.93% |
#3
Prev: #3
|
5.5 |
—
|
-1,110,707 | -11.0% |
P
S
|
8,995,258 | $509,401,461 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
RLX
RLX TECHNOLOGY ...
|
Consumer Defensive | 5.71% | 5.78% |
#4
1
Prev: #5
|
3.3 |
—
|
-2,734,753 | -4.4% |
P
S
|
60,129,671 | $132,285,276 | 2023 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
LEGN
LEGEND BIOTECH ...
|
Healthcare | 1.79% | — |
#5
Prev: #—
|
4.7 |
—
|
2,296,335 | — |
NEW
|
2,296,335 | $41,540,700 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
KSPI
KASPI KZ JSC
|
Technology | 1.39% | 0.35% |
#6
Prev: #6
|
3.6 |
—
|
321,962 | 286.5% |
P
S
|
434,350 | $32,172,305 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
SE
SEA LTD
|
Consumer Cyclical | 0.75% | — |
#7
Prev: #—
|
3.8 |
—
|
208,963 | — |
NEW
|
208,963 | $17,304,226 | 2023 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
DDL
DINGDONG CAYMAN...
|
Consumer Defensive | 0.09% | — |
#8
Prev: #—
|
3.5 |
—
|
845,952 | — |
NEW
|
845,952 | $2,174,097 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
ZH
ZHIHU INC
|
Communication Services | 0.07% | — |
#9
Prev: #—
|
3.5 |
—
|
551,048 | — |
NEW
|
551,048 | $1,564,976 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
NOAH
NOAH HLDGS LTD
|
Financial Services | 0.06% | 0.16% |
#10
3
Prev: #7
|
0.0 |
—
|
-256,539 | -65.4% |
P
S
|
135,988 | $1,346,281 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
BZUN
BAOZUN INC
|
Consumer Cyclical | 0.05% | — |
#11
Prev: #—
|
3.5 |
—
|
444,328 | — |
NEW
|
444,328 | $1,061,944 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
API
AGORA INC
|
Technology | 0.00% | 0.00% |
#12
4
Prev: #8
|
0.0 |
—
|
-2,200 | -22.2% |
P
S
|
7,700 | $27,258 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
ATAT
ATOUR LIFESTYLE...
|
Consumer Cyclical | 0.00% | 9.03% |
Sold All 😨
(Was: #4) |
0.0 |
—
|
-5,811,104 | -100.0% |
CLOSED
|
— | $— | 2023 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 |
Showing 1-13 of 13 holdings