Hedge Fund · CIK 0001762304

Hillhouse

HHLR Advisors
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Hillhouse runs HHLR Advisors, a hedge fund overseeing $3.10B in disclosed equity holdings (SEC CIK 0001762304). The latest portfolio (2025Q4) discloses 33 positions across 10 sectors, with the largest positions in PDD, BABA and ONC. On a mark-to-market basis the tracked portfolio has returned 48.9% over the past year. OpenStocks tracks 29 consecutive quarterly snapshots for this manager — every position change, new entry, and exit is logged below.

Portfolio
$3.10B
Positions
33
Quarter
2025Q4
Filings tracked
29
1Y+48.9%3Y+120.7%5Y+66.0%Full performance →
1-YearTWR
+48.94%
since 2024Q4
3-YearTWR
+120.67%
since 2022Q4
5-YearTWR
+66.02%
since 2020Q4
10-Year
insufficient history

Performance overview

We mark Hillhouse (HHLR Advisors)'s disclosed portfolio to current market prices and compare its growth against the S&P 500 (SPY). Hillhouse's portfolio is 48.9% over the last 12 months.

Portfolio growth vs SPY
Rebased to 100 at 2018Q4 · through 2025Q4
Hillhouse
+670.3%
SPY
372654937219492018Q42022Q22025Q4
Portfolio line is the GIPS-compliant time-weighted return chain-linked across the manager's quarterly 13F filings — unaffected by capital flows. Quarters with insufficient held-through coverage are skipped, which can briefly flatten the line.
Capital flow per quarter
BuysSellsNet
+$1.63B+$817M$0-$817M-$1.63B'22Q1'22Q2'22Q3'22Q4'23Q1'23Q2'23Q3'23Q4'24Q1'24Q2'24Q3'24Q4'25Q1'25Q2'25Q3'25Q4
Latest · 2025Q4
-$350M
Lifetime buys
$10.99B
Lifetime sells
$13.47B
Portfolio over time
AUMPositions
$0$1.86B$3.72B$5.64B7833'22Q1'23Q4'25Q4
QoQ AUM
-24.1%
16Q lifetime AUM
-35.2%
QoQ positions
+0
16Q lifetime positions
-31
Position concentration
33 positions
Top 1
39%
of book