Hedge Fund · CIK 0001762304

Hillhouse

HHLR Advisors

Hillhouse runs HHLR Advisors, a hedge fund overseeing $3.10B in disclosed equity holdings (SEC CIK 0001762304). The latest 13F filing (2025Q4) discloses 33 positions across 10 sectors, with the largest positions in PDD, BABA and ONC. OpenStocks tracks 29 consecutive 13F filings for this manager — every position change, new entry, and exit is logged below.

Track Hillhouse's filings View holdings

Portfolio

$3.10B

Positions

Quarter

2025Q4

Filings tracked

Quarter

2025Q4 2025Q3 2025Q2 2025Q1 2024Q4 2024Q3 2024Q2 2024Q1 2023Q4 2023Q3 2023Q2 2023Q1

Holdings

Sorted by value · 2025Q4

Sector33 positions

PDDPINDUODUO INCADR

Consumer Cyclical·Internet Retail

39.17%

of portfolio

Avg buy

$112.77

2018Q4

Current

—

Return

—

Last action

Added 24.8%

2025Q4

10,721,400 sh

$1.22B

BABAALIBABA GROUP HLDG LTDADR

Consumer Cyclical·Internet Retail

25.65%

of portfolio

Avg buy

$146.43

2018Q4

Current

$138.59

Return

-5.4%

Last action

Added 65.1%

2025Q4

5,430,346 sh

$795.98M

ONCBEIGENE LTDADR

Healthcare·Biotechnology

10.12%

of portfolio

Avg buy

$136.90

2018Q4

Current

—

Return

—

Last action

Trimmed 72.8%

2025Q1

1,034,306 sh

$314.23M

FUTUFUTU HLDGS LTDADR

Financial Services·Capital Markets

8.63%

of portfolio

Avg buy

$94.94

2020Q3

Current

$165.06

Return

+73.9%

Last action

Trimmed 49.7%

2025Q4

1,630,249 sh

$267.70M

LEGNLEGEND BIOTECH CORPADR

Healthcare·Biotechnology

4.19%

of portfolio

Avg buy

$47.95

2020Q2

Current

—

Return

—

Last action

Trimmed 9.8%

2024Q4

5,984,550 sh

$130.10M

AVBPARRIVENT BIOPHARMA INC

Healthcare·Biotechnology

2.55%

of portfolio

Avg buy

$17.95

2024Q1

Current

—

Return

—

Last action

Trimmed 12.4%

2025Q4

3,929,117 sh

$79.05M

BEKEKE HLDGS INCADR

Real Estate·Real Estate Services

2.15%

of portfolio

Avg buy

$21.59

2020Q3

Current

—

Return

—

Last action

Trimmed 43.3%

2025Q3

4,236,278 sh

$66.76M

G9572D103WEBULL CORP

1.50%

of portfolio

Avg buy

$11.96

2025Q2

Current

—

Return

—

Last action

Trimmed 81.9%

2025Q4

5,974,604 sh

$46.42M

CTKBCYTEK BIOSCIENCES INC

Healthcare·Medical Devices

1.08%

of portfolio

Avg buy

$21.41

2021Q3

Current

—

Return

—

Last action

Trimmed 13.6%

2023Q2

6,657,030 sh

$33.62M

CWANCLEARWATER ANALYTICS HLDGS I

Technology·Software - Application

1.06%

of portfolio

Avg buy

$21.93

2025Q2

Current

—

Return

—

Last action

New holding

2025Q2

1,365,971 sh

$32.95M

NBPI MABADR

Healthcare·Biotechnology

0.77%

of portfolio

Avg buy

$50.06

2020Q3

Current

—

Return

—

Last action

Trimmed 13.4%

2024Q4

5,980,568 sh

$23.80M

YSGYATSEN HLDG LTDADR

Consumer Defensive·Household & Personal Products

0.61%

of portfolio

Avg buy

$2.11

2024Q1

Current

—

Return

—

Last action

Trimmed 20.1%

2025Q3

4,885,873 sh

$19.01M

MAZEMAZE THERAPEUTICS INC

Healthcare·Biotechnology

0.61%

of portfolio

Avg buy

$11.01

2025Q1

Current

—

Return

—

Last action

New holding

2025Q1

457,535 sh

$18.96M

GOSSGOSSAMER BIO INC

Healthcare·Biotechnology

0.50%

of portfolio

Avg buy

$16.64

2019Q1

Current

—

Return

—

Last action

Trimmed 33.0%

2022Q4

4,974,041 sh

$15.42M

APIAGORA INCADR

0.28%

of portfolio

Avg buy

$4.73

2020Q2

Current

—

Return

—

Last action

New holding

2024Q4

2,098,553 sh

$8.54M

CTNMCONTINEUM THERAPEUTICS INC

Healthcare·Biotechnology

0.25%

of portfolio

Avg buy

$17.61

2024Q2

Current

—

Return

—

Last action

New holding

2024Q2

669,337 sh

$7.65M

SGMTSAGIMET BIOSCIENCES INC

Healthcare·Biotechnology

0.14%

of portfolio

Avg buy

$8.80

2023Q3

Current

—

Return

—

Last action

Trimmed 50.0%

2024Q1

724,800 sh

$4.29M

TSMTAIWAN SEMICONDUCTOR MFG LTDADR

Technology·Semiconductors

0.11%

of portfolio

Avg buy

$147.43

2020Q2

Current

$363.35

Return

+146.5%

Last action

New holding

2025Q4

11,300 sh

$3.43M

TUYATUYA INCADR

Technology·Software - Infrastructure

0.11%

of portfolio

Avg buy

$21.14

2021Q1

Current

—

Return

—

Last action

Trimmed 2.2%

2024Q1

1,564,400 sh

$3.30M

GEGENERAL ELECTRIC CO

Industrials·Aerospace & Defense

0.10%

of portfolio

Avg buy

$219.71

2024Q1

Current

$298.29

Return

+35.8%

Last action

Added 59.3%

2025Q3

10,043 sh

$3.09M

GOOGLALPHABET INC

Communication Services·Internet Content & Information

0.07%

of portfolio

Avg buy

$287.74

2024Q2

Current

$336.02

Return

+16.8%

Last action

New holding

2025Q4

7,300 sh

$2.28M

MOGUMOGU INCADR

0.06%

of portfolio

Avg buy

$3.52

2022Q1

Current

—

Return

—

Last action

Trimmed 2.6%

2023Q1

847,510 sh

$1.81M

IBITISHARES BITCOIN TRETF

0.06%

of portfolio

Avg buy

$49.65

2025Q4

Current

—

Return

—

Last action

New holding

2025Q4

35,300 sh

$1.75M

PACBPACIFIC BIOSCIENCES CALIF IN

Healthcare·Medical Devices

0.06%

of portfolio

Avg buy

$25.40

2021Q3

Current

$1.63

Return

-93.6%

Last action

New holding

2023Q3

918,892 sh

$1.72M

MCOMOODYS CORP

Financial Services·Financial Data & Stock Exchanges

0.05%

of portfolio

Avg buy

$449.99

2023Q4

Current

—

Return

—

Last action

Added 16.6%

2025Q3

2,888 sh

$1.48M

EQXEQUINOX GOLD CORP

Basic Materials·Gold

0.04%

of portfolio

Avg buy

$11.22

2025Q3

Current

—

Return

—

Last action

New holding

2025Q3

80,500 sh

$1.13M

BBARRICK MNG CORP

Basic Materials·Gold

0.04%

of portfolio

Avg buy

$32.77

2025Q3

Current

$42.40

Return

+29.4%

Last action

New holding

2025Q3

25,400 sh

$1.11M

AXIACENTRAIS ELETRICAS BRASILEIRADR

Utilities·Utilities - Renewable

0.03%

of portfolio

Avg buy

$9.16

2025Q4

Current

—

Return

—

Last action

New holding

2025Q4

96,600 sh

$884.9K

ALGSALIGOS THERAPEUTICS INC

0.02%

of portfolio

Avg buy

$8.66

2024Q3

Current

—

Return

—

Last action

New holding

2024Q3

76,247 sh

$710.6K

VNETVNET GROUP INCADR

Technology·Information Technology Services

0.01%

of portfolio

Avg buy

$8.46

2025Q4

Current

—

Return

—

Last action

New holding

2025Q4

53,100 sh

$449.2K

AXIA/PCCENTRAIS ELET BRAS SAADR

0.01%

of portfolio

Avg buy

$8.62

2025Q4

Current

—

Return

—

Last action

New holding

2025Q4

25,390 sh

$218.9K

UXINUXIN LTDADR

0.00%

of portfolio

Avg buy

$2.12

2024Q1

Current

—

Return

—

Last action

New holding

2024Q1

19,156 sh

$64.6K

G2124G120RIDGETECH INC

0.00%

of portfolio

Avg buy

$3.12

2024Q1

Current

—

Return

—

Last action

New holding

2024Q1

20,167 sh

$57.5K

Portfolio heatmap

Box size = % of portfolio · color = return since filing

Sector exposure

Share of dollar value across the latest 13F report. Unclassified positions excluded.

Consumer Cyclical2 pos$2.01B66.1%
Healthcare10 pos$628.8M20.7%
Financial Services2 pos$269.2M8.8%
Real Estate1 pos$66.8M2.2%
Technology4 pos$40.1M1.3%
Consumer Defensive1 pos$19.0M0.6%
Industrials1 pos$3.1M0.1%
Communication Services1 pos$2.3M0.1%
Basic Materials2 pos$2.2M0.1%
Utilities1 pos$885K0.0%

(1.9% unclassified, excluded from %)