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First Beijing Investment LTD
First Beijing Investment Ltd is a hedge fund manager headquartered in Hong Kong, operating primarily as an investment adviser and manager for various pooled investment funds. The firm oversees a range of equity and alternative investment portfolios, focusing on Greater China and Asian markets. Public filings under SEC CIK 0001701717 show an active presence in US regulatory reporting, with fund operations established in the 2010s. Employee count is not disclosed but is believed to be relatively small, consistent with boutique fund operations.
Investment Strategy
The firm pursues mostly long/short equity and alternative investment strategies centered on high-growth sectors in China and greater Asia. It emphasizes fundamental research-driven selection, often investing in public Chinese and Asian companies with substantial market capitalization, such as Pinduoduo, Full Truck Alliance, and New Oriental Education. Portfolio management involves sector rotation and tactical allocation in technology, logistics, education, and consumer industries.
Latest 13F Filing Activity
First Beijing Investment LTD filed their most recent 13F report on Jun 30, 2025 disclosing 9 equity positions with a total 13F market value of $2B. The fund increased holdings in PDD Holdings Inc., New Oriental Ed & Technology, Full Truck Alliance Co. LTD among other positions. First Beijing Investment LTD reduced exposure to Sea LTD, Agora Inc., Noah HLDGS LTD among others.
Top Holdings
Equity Positions (9)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
P PDD | PDD HOLDINGS INC | 32.67% | $583.8M | 5,577,852 | $102.68 | $104.66 | +$127.3M |
Y YMM | FULL TRUCK ALLIANCE CO LTD | 26.10% | $466.4M | 39,494,654 | $10.47 | $11.81 | +$86.7M |
E EDU | NEW ORIENTAL ED & TECHNOLOGY | 21.48% | $383.9M | 7,115,332 | $49.84 | $53.95 | +$123.0M |
A ATAT | ATOUR LIFESTYLE HOLDINGS LTD | 10.64% | $190.2M | 5,849,962 | $24.57 | $32.51 | +$47.4M |
R RLX | RLX TECHNOLOGY INC | 7.77% | $138.9M | 62,864,424 | $1.92 | $2.21 | +$61.8M |
Industry Allocation
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