FIRST BEIJING INVESTMENT LTD
Q1 2026 Form 13-F
HONG KONG, HONG KONG
CIK 0001701717
· CRD 164293
· Exempt reporting adviser
$2.3B Reported Value Total
Exempt Reporting Adviser
linkedin.com
Source: Form ADV filed 2026-03-31
Reported value
$2.3B
Quarter over quarter
-11.0%
Holdings
12
Top-10 concentration
100.0%
Key People
Named on the latest Form 13-F filing — not necessarily an owner
Li Jingwei
Director
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13F Metrics
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Q1 2026 13F record
Q1 2026 13F filing summary
| Period of report | March 31, 2026 |
|---|---|
| Filed | May 13, 2026 |
| Form | 13F-HR |
| Reported value | $2.3B |
| Positions | 12 |
| Change in reported value | -8.6% |
| New positions | 5 |
| Exited positions | 1 |
| Position turnover | 46.2% |
| Top-10 concentration | 100.0% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q2 2026 13F
Filed Aug 12, 2026
|
11 | $2.4B |
|
Q1 2026 13F
Filed May 13, 2026
|
12 | $2.3B |
|
Q4 2025 13F
Filed Feb 17, 2026
|
8 | $2.5B |
|
Q3 2025 13F
Filed Nov 14, 2025
|
8 | $2.6B |
|
Q2 2025 13F
Filed Aug 15, 2025
|
9 | $1.8B |
|
Q1 2025 13F
Filed May 19, 2025
|
8 | $1.5B |
|
Q4 2024 13F
Filed Feb 14, 2025
|
12 | $1.4B |
|
Q3 2024 13F
Filed Oct 31, 2024
|
13 | $1.4B |
|
Q2 2024 13F
Filed Aug 14, 2024
|
9 | $924.3M |
|
Q1 2024 13F
Filed May 15, 2024
|
7 | $519.5M |
|
Q4 2023 13F
Filed Feb 13, 2024
|
26 | $604.4M |
|
Q3 2023 13F
Filed Nov 14, 2023
|
11 | $519.3M |
|
Q2 2023 13F
Filed Aug 17, 2023
|
8 | $331.3M |
Top 12 holdings · Q1 2026
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | PDD PDD HOLDINGS INC | $832.7M | 35.91% |
| 2 | YMM FULL TRUCK ALLIANCE CO LTD | $747.0M | 32.22% |
| 3 | EDU NEW ORIENTAL ED & TECHNOLOGY | $509.4M | 21.97% |
| 4 | RLX RLX TECHNOLOGY INC | $132.3M | 5.71% |
| 5 | LEGN LEGEND BIOTECH CORP | $41.5M | 1.79% |
| 6 | KSPI KASPI KZ JSC | $32.2M | 1.39% |
| 7 | SE SEA LTD | $17.3M | 0.75% |
| 8 | DDL DINGDONG CAYMAN LTD | $2.2M | 0.09% |
| 9 | ZH ZHIHU INC | $1.6M | 0.07% |
| 10 | NOAH NOAH HLDGS LTD | $1.3M | 0.06% |
| 11 | BZUN BAOZUN INC | $1.1M | 0.05% |
| 12 | API AGORA INC | $27.3K | < 0.01% |
Values as reported on the Q1 2026 Form 13F. Every position is in the holdings table below.