First Beijing Investment Ltd 13F holdings, Q1 2025
Holdings as of March 31, 2025 · filings on SEC EDGAR · latest filing →
First Beijing Investment Ltd disclosed 8 US equity positions worth $1.5bn in its Q1 2025 13F filing. The largest position was PDD at 31.3% of the reported book, followed by YMM and EDU. Against the Q4 2024 filing, it opened 1 new position, added to 4 and reduced 3 among the top 8 holdings.
What did First Beijing Investment Ltd own in Q1 2025? Top 8 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q4 2024 |
|---|---|---|---|---|---|---|---|
| 1 | PDD PDD HOLDINGS INC | Consumer Cyclical | 31.3% | $456.5m | 3,857,223 | 2% | added |
| 2 | YMM FULL TRUCK ALLIANCE CO LTD | Technology | 26.1% | $379.7m | 29,736,802 | -5% | reduced |
| 3 | EDU NEW ORIENTAL ED & TECHNOLOGY | Consumer Defensive | 17.9% | $260.9m | 5,456,378 | 1998% | added |
| 4 | ATAT ATOUR LIFESTYLE HOLDINGS LTD | Consumer Cyclical | 9.8% | $142.8m | 5,036,355 | -7% | reduced |
| 5 | SE SEA LTD | Consumer Cyclical | 8.6% | $125.0m | 957,702 | -63% | reduced |
| 6 | RLX RLX TECHNOLOGY INC | Consumer Defensive | 5.3% | $77.1m | 41,036,045 | 76% | added |
| 7 | LU LUFAX HOLDING LTD | Financial Services | 0.9% | $13.0m | 4,392,625 | – | new |
| 8 | NOAH NOAH HLDGS LTD | 0.1% | $1.5m | 163,443 | 20% | added |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.