Filed: 11/14/2025ACC: 0001701717-25-000020
📋 What this filing means
FIRST BEIJING INVESTMENT LTD filed this quarterly 13F‑HR report disclosing 8 equity positions with a total reported market value of $2.59B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
8
Positions
$2.59B
Total AUM (reported)
154.61M
Total Shares
Allocation by class
SPONSORED ADS$1.27B49.0%
AMERICAN DEP$815.32M31.5%
SPON ADR$496.02M19.2%
COM$7.77M0.3%
SPON ADS$2.03M0.1%
ADS$37.8K0.0%
Portfolio Concentration
Top 3$2.20B85.0%
4–10$388.26M15.0%
Top 3 weight
85.0%
Top 10 weight
100.0%
Voting Authority Distribution
Total shares with voting rights: 154.61M
Sole
Full voting authority
85.05M
shares
% of voting shares55.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
69.56M
shares
% of voting shares45.0%
Investment Discretion (by position count)
Sole8
Shared0
Other0
Dominant voting typeSole · 55.0% of voting shares
Institutional Holdings8
Rows:
FULL TRUCK ALLIANCE CO LTD
SOLEShares68.65M
TypeSH
Market value$890.33M
34.38%
Sole
29.28M
Shared
0.00
None
39.37M
PDD HOLDINGS INC
SOLEShares6.17M
TypeSH
Market value$815.32M
31.48%
Sole
1.88M
Shared
0.00
None
4.28M
NEW ORIENTAL ED & TECHNOLOGY
SOLEShares9.35M
TypeSH
Market value$496.02M
19.15%
Sole
4.44M
Shared
0.00
None
4.90M
ATOUR LIFESTYLE HOLDINGS LTD
SOLEShares5.67M
TypeSH
Market value$213.09M
8.23%
Sole
2.17M
Shared
0.00
None
3.50M
RLX TECHNOLOGY INC
SOLEShares62.86M
TypeSH
Market value$165.33M
6.38%
Sole
45.39M
Shared
0.00
None
17.47M
AXT INC
SOLEShares1.73M
TypeSH
Market value$7.77M
0.30%
Sole
1.73M
Shared
0.00
None
0.00
NOAH HLDGS LTD
SOLEShares175.33K
TypeSH
Market value$2.03M
0.08%
Sole
136.73K
Shared
0.00
None
38.59K
AGORA INC
SOLEShares9.90K
TypeSH
Market value$37.8K
<0.01%
Sole
9.90K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
FULL TRUCK ALLIANCE CO LTDSOLE | SPONSORED ADS | 68.65M | SH | $890.33M 34.38% | 29.28M | 0.00 | 39.37M |
PDD HOLDINGS INCSOLE | AMERICAN DEP | 6.17M | SH | $815.32M 31.48% | 1.88M | 0.00 | 4.28M |
NEW ORIENTAL ED & TECHNOLOGYSOLE | SPON ADR | 9.35M | SH | $496.02M 19.15% | 4.44M | 0.00 | 4.90M |
ATOUR LIFESTYLE HOLDINGS LTDSOLE | SPONSORED ADS | 5.67M | SH | $213.09M 8.23% | 2.17M | 0.00 | 3.50M |
RLX TECHNOLOGY INCSOLE | SPONSORED ADS | 62.86M | SH | $165.33M 6.38% | 45.39M | 0.00 | 17.47M |
AXT INCSOLE | COM | 1.73M | SH | $7.77M 0.30% | 1.73M | 0.00 | 0.00 |
NOAH HLDGS LTDSOLE | SPON ADS | 175.33K | SH | $2.03M 0.08% | 136.73K | 0.00 | 38.59K |
AGORA INCSOLE | ADS | 9.90K | SH | $37.8K <0.01% | 9.90K | 0.00 | 0.00 |