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 portfolio (2025Q4) discloses 33 positions across 10 sectors, with the largest positions in PDD, BABA and ONC. OpenStocks tracks 29 consecutive quarterly snapshots 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 · 2023Q1

Sector70 positions

ONCBEIGENE LTDADR

Healthcare·Biotechnology

20.91%

of portfolio

Number of shares

5,472,259 sh

Holdings current value

$1.18B

Avg closing price

$136.90

Last action

Trimmed 33.6%

2025Q1

Current —

PDDPINDUODUO INCADR

Consumer Cyclical·Internet Retail

14.32%

of portfolio

Number of shares

10,642,847 sh

Holdings current value

$807.79M

Avg closing price

$112.77

Last action

Added 25.0%

2025Q4

Current —

BEKEKE HLDGS INCADR

Real Estate·Real Estate Services

10.43%

of portfolio

Number of shares

31,228,934 sh

Holdings current value

$588.35M

Avg closing price

$21.59

Last action

Trimmed 9.4%

2025Q3

Current —

BABAALIBABA GROUP HLDG LTDADR

Consumer Cyclical·Internet Retail

6.86%

of portfolio

Number of shares

3,785,116 sh

Holdings current value

$386.76M

Avg closing price

$146.43

-5.4%

Last action

Added 130.2%

2025Q4

Current $138.59

CRMSALESFORCE COM INC

Technology·Software - Application

6.13%

of portfolio

Number of shares

1,731,237 sh

Holdings current value

$345.87M

Avg closing price

$202.27

-10.4%

Last action

Exited

2024Q3

Current $181.22

DASHDOORDASH INC

Consumer Cyclical·Internet Retail

5.02%

of portfolio

Number of shares

4,450,700 sh

Holdings current value

$282.89M

Avg closing price

$115.41

+55.4%

Last action

Exited

2024Q3

Current $179.33

FCXFREEPORT-MCMORAN INC

Basic Materials·Copper

4.55%

of portfolio

Number of shares

6,274,800 sh

Holdings current value

$256.70M

Avg closing price

$38.00

+79.7%

Last action

Exited

2023Q2

Current $68.28

LEGNLEGEND BIOTECH CORPADR

Healthcare·Biotechnology

4.39%

of portfolio

Number of shares

5,130,367 sh

Holdings current value

$247.39M

Avg closing price

$47.95

Last action

Trimmed 11.3%

2024Q4

Current —

HTHTHUAZHU GROUP LTDADR

Consumer Cyclical·Lodging

2.92%

of portfolio

Number of shares

3,357,573 sh

Holdings current value

$164.45M

Avg closing price

$47.21

Last action

Exited

2025Q2

Current —

JDJD.COM INCADR

Consumer Cyclical·Internet Retail

1.87%

of portfolio

Number of shares

2,397,789 sh

Holdings current value

$105.24M

Avg closing price

$40.60

Last action

Exited

2025Q3

Current —

H5919C104ON HLDG AG

1.81%

of portfolio

Number of shares

3,291,204 sh

Holdings current value

$102.13M

Avg closing price

$30.13

Last action

Exited

2024Q3

Current —

DQDAQO NEW ENERGY CORPADR

Technology·Semiconductor Equipment & Materials

1.69%

of portfolio

Number of shares

2,037,000 sh

Holdings current value

$95.41M

Avg closing price

$62.64

Last action

Exited

2023Q4

Current —

MDLZMONDELEZ INTL INC

Consumer Defensive·Confectioners

1.32%

of portfolio

Number of shares

1,070,764 sh

Holdings current value

$74.65M

Avg closing price

$40.03

+42.6%

Last action

Exited

2024Q2

Current $57.07

MSFTMICROSOFT CORP

Technology·Software - Infrastructure

1.31%

of portfolio

Number of shares

256,900 sh

Holdings current value

$74.06M

Avg closing price

$279.82

+51.1%

Last action

Exited

2024Q3

Current $422.79

CTKBCYTEK BIOSCIENCES INC

Healthcare·Medical Devices

1.26%

of portfolio

Number of shares

7,703,514 sh

Holdings current value

$70.80M

Avg closing price

$21.41

Last action

Trimmed 12.0%

2023Q2

Current —

BBIOBRIDGEBIO PHARMA INC

Healthcare·Biotechnology

1.17%

of portfolio

Number of shares

3,978,410 sh

Holdings current value

$65.96M

Avg closing price

$29.14

+166.0%

Last action

Exited

2025Q1

Current $77.51

BIDUBAIDU INCADR

Communication Services·Internet Content & Information

1.09%

of portfolio

Number of shares

405,900 sh

Holdings current value

$61.26M

Avg closing price

$131.21

-4.7%

Last action

Exited

2025Q4

Current $125.03

292812104ENFUSION INC

0.93%

of portfolio

Number of shares

4,975,183 sh

Holdings current value

$52.24M

Avg closing price

$20.94

Last action

Exited

2025Q2

Current —

CPNGCOUPANG INC

Consumer Cyclical·Internet Retail

0.92%

of portfolio

Number of shares

3,241,400 sh

Holdings current value

$51.86M

Avg closing price

$25.06

-14.2%

Last action

Exited

2024Q3

Current $21.49

985194109YATSEN HLDG LTD

0.92%

of portfolio

Number of shares

34,939,200 sh

Holdings current value

$51.71M

Avg closing price

$2.24

Last action

Exited

2024Q1

Current —

YMMFULL TRUCK ALLIANCE CO LTDADR

Technology·Software - Application

0.75%

of portfolio

Number of shares

5,594,000 sh

Holdings current value

$42.57M

Avg closing price

$12.95

Last action

Exited

2025Q4

Current —

UBERUBER TECHNOLOGIES INC

Technology·Software - Application

0.74%

of portfolio

Number of shares

1,314,000 sh

Holdings current value

$41.65M

Avg closing price

$25.28

+202.6%

Last action

Exited

2023Q2

Current $76.48

VIPSVIPSHOP HOLDINGS LIMITEDADR

Consumer Cyclical·Internet Retail

0.62%

of portfolio

Number of shares

2,304,797 sh

Holdings current value

$34.99M

Avg closing price

$13.18

Last action

Exited

2025Q3

Current —

PLTKPLAYTIKA HLDG CORP

Communication Services·Electronic Gaming & Multimedia

0.62%

of portfolio

Number of shares

3,092,000 sh

Holdings current value

$34.82M

Avg closing price

$27.21

-86.9%

Last action

Exited

2024Q1

Current $3.57

BMRNBIOMARIN PHARMACEUTICAL INC

Healthcare·Biotechnology

0.53%

of portfolio

Number of shares

308,693 sh

Holdings current value

$30.02M

Avg closing price

$97.24

-44.4%

Last action

Exited

2023Q4

Current $54.10

ZMZOOM VIDEO COMMUNICATIONS IN

Technology·Software - Application

0.53%

of portfolio

Number of shares

405,600 sh

Holdings current value

$29.95M

Avg closing price

$86.57

+0.1%

Last action

Exited

2023Q2

Current $86.68

LILI AUTO INCADR

Consumer Cyclical·Auto Manufacturers

0.46%

of portfolio

Number of shares

1,030,972 sh

Holdings current value

$25.72M

Avg closing price

$26.23

Last action

Exited

2025Q3

Current —

NBPI MABADR

Healthcare·Biotechnology

0.43%

of portfolio

Number of shares

6,954,442 sh

Holdings current value

$24.06M

Avg closing price

$50.06

Last action

Trimmed 11.8%

2024Q4

Current —

FUTUFUTU HLDGS LTDADR

Financial Services·Capital Markets

0.38%

of portfolio

Number of shares

417,187 sh

Holdings current value

$21.63M

Avg closing price

$94.94

+73.9%

Last action

Trimmed 79.4%

2025Q4

Current $165.06

MLCOMELCO RESORTS AND ENTMNT LTDADR

Consumer Cyclical·Resorts & Casinos

0.38%

of portfolio

Number of shares

1,698,877 sh

Holdings current value

$21.63M

Avg closing price

$22.56

Last action

Exited

2023Q2

Current —

TLTISHARES TRETF

0.37%

of portfolio

Number of shares

195,100 sh

Holdings current value

$20.75M

Avg closing price

$101.48

Last action

Exited

2023Q2

Current —

DDOGDATADOG INC

Technology·Software - Application

0.28%

of portfolio

Number of shares

218,100 sh

Holdings current value

$15.85M

Avg closing price

$0.09

+138974.4%

Last action

Exited

2024Q1

Current $123.47

TMOTHERMO FISHER SCIENTIFIC INC

Healthcare·Diagnostics & Research

0.26%

of portfolio

Number of shares

25,800 sh

Holdings current value

$14.87M

Avg closing price

$555.75

-7.2%

Last action

Exited

2024Q3

Current $516.00

NTESNETEASE INCADR

Communication Services·Electronic Gaming & Multimedia

0.23%

of portfolio

Number of shares

149,700 sh

Holdings current value

$13.24M

Avg closing price

$94.08

Last action

Exited

2025Q4

Current —

ATATATOUR LIFESTYLE HLDGS LTDADR

Consumer Cyclical·Lodging

0.22%

of portfolio

Number of shares

477,904 sh

Holdings current value

$12.53M

Avg closing price

$26.13

Last action

Exited

2025Q2

Current —

ZTOZTO EXPRESS CAYMAN INCADR

Industrials·Integrated Freight & Logistics

0.22%

of portfolio

Number of shares

430,500 sh

Holdings current value

$12.34M

Avg closing price

$23.05

Last action

Exited

2025Q3

Current —

CTLTEURCATALENT INC

0.22%

of portfolio

Number of shares

187,000 sh

Holdings current value

$12.29M

Avg closing price

$65.71

Last action

Exited

2023Q2

Current —

EXKEXACT SCIENCES CORP

Basic Materials·Silver

0.20%

of portfolio

Number of shares

170,094 sh

Holdings current value

$11.53M

Avg closing price

$71.48

-86.4%

Last action

Exited

2023Q4

Current $9.72

AKROAKERO THERAPEUTICS INC

0.20%

of portfolio

Number of shares

295,502 sh

Holdings current value

$11.31M

Avg closing price

$24.91

Last action

Exited

2023Q4

Current —

SNYSANOFIADR

Healthcare·Drug Manufacturers - General

0.20%

of portfolio

Number of shares

205,700 sh

Holdings current value

$11.19M

Avg closing price

$54.42

Last action

Exited

2023Q2

Current —

AMDADVANCED MICRO DEVICES INC

Technology·Semiconductors

0.20%

of portfolio

Number of shares

113,100 sh

Holdings current value

$11.08M

Avg closing price

$176.96

+57.2%

Last action

Exited

2024Q2

Current $278.26

G5269C101KINIKSA PHARMACEUTICALS LTD

0.19%

of portfolio

Number of shares

1,018,091 sh

Holdings current value

$10.95M

Avg closing price

$20.59

Last action

Exited

2024Q2

Current —

SOHUSOHU COM LTDADR

Communication Services·Electronic Gaming & Multimedia

0.19%

of portfolio

Number of shares

731,800 sh

Holdings current value

$10.78M

Avg closing price

$17.42

Last action

Exited

2025Q2

Current —

REGNREGENERON PHARMACEUTICALS

Healthcare·Biotechnology

0.18%

of portfolio

Number of shares

12,500 sh

Holdings current value

$10.27M

Avg closing price

$821.67

-9.2%

Last action

Exited

2023Q2

Current $746.00

AMZNAMAZON COM INC

Consumer Cyclical·Internet Retail

0.18%

of portfolio

Number of shares

97,000 sh

Holdings current value

$10.02M

Avg closing price

$134.35

+85.9%

Last action

Exited

2024Q3

Current $249.70

SNOWSNOWFLAKE INC

Technology·Software - Application

0.15%

of portfolio

Number of shares

55,700 sh

Holdings current value

$8.59M

Avg closing price

$251.00

-42.8%

Last action

Exited

2023Q2

Current $143.55

81181C104SEAGEN INC

0.14%

of portfolio

Number of shares

38,350 sh

Holdings current value

$7.76M

Avg closing price

$202.47

Last action

Exited

2023Q2

Current —

25459W540DIREXION SHS ETF TR

0.12%

of portfolio

Number of shares

793,050 sh

Holdings current value

$7.04M

Avg closing price

$7.62

Last action

Exited

2023Q2

Current —

GOSSGOSSAMER BIO INC

Healthcare·Biotechnology

0.11%

of portfolio

Number of shares

4,974,041 sh

Holdings current value

$6.27M

Avg closing price

$16.64

Last action

Trimmed 33.0%

2022Q4

Current —

DYNDYNE THERAPEUTICS INC

Healthcare·Biotechnology

0.10%

of portfolio

Number of shares

478,401 sh

Holdings current value

$5.51M

Avg closing price

$18.33

Last action

Exited

2023Q2

Current —

WOLF*WOLFSPEED INC

0.08%

of portfolio

Number of shares

70,000 sh

Holdings current value

$4.55M

Avg closing price

$64.95

Last action

Exited

2023Q2

Current —

EMSMART SH GLOBAL LTDADR

0.08%

of portfolio

Number of shares

4,007,331 sh

Holdings current value

$4.37M

Avg closing price

$6.07

Last action

Exited

2025Q4

Current —

MNSOMINISO GROUP HLDG LTDADR

Consumer Cyclical·Specialty Retail

0.08%

of portfolio

Number of shares

242,700 sh

Holdings current value

$4.31M

Avg closing price

$21.08

Last action

Exited

2023Q2

Current —

BZKANZHUN LIMITEDADR

Communication Services·Internet Content & Information

0.07%

of portfolio

Number of shares

217,816 sh

Holdings current value

$4.15M

Avg closing price

$20.51

Last action

Exited

2025Q3

Current —

TUYATUYA INCADR

Technology·Software - Infrastructure

0.05%

of portfolio

Number of shares

1,599,700 sh

Holdings current value

$3.02M

Avg closing price

$21.14

Last action

Trimmed 2.2%

2024Q1

Current —

JOYYJOYY INCADR

Communication Services·Internet Content & Information

0.05%

of portfolio

Number of shares

96,500 sh

Holdings current value

$3.01M

Avg closing price

$83.07

Last action

Exited

2025Q2

Current —

MOGUMOGU INCADR

0.05%

of portfolio

Number of shares

847,510 sh

Holdings current value

$2.75M

Avg closing price

$3.52

Last action

Trimmed 2.6%

2023Q1

Current —

PATHUIPATH INC

Technology·Software - Infrastructure

0.05%

of portfolio

Number of shares

145,200 sh

Holdings current value

$2.55M

Avg closing price

$67.93

-84.4%

Last action

Exited

2023Q2

Current $10.61

BEDUBRIGHT SCHOLAR ED HLDGS LTDADR

0.04%

of portfolio

Number of shares

996,449 sh

Holdings current value

$2.39M

Avg closing price

$0.00

Last action

Exited

2025Q4

Current —

PYXSPYXIS ONCOLOGY INC

0.04%

of portfolio

Number of shares

530,692 sh

Holdings current value

$2.13M

Avg closing price

$10.97

Last action

Exited

2025Q1

Current —

01626L105ALIGOS THERAPEUTICS INC

0.04%

of portfolio

Number of shares

2,309,764 sh

Holdings current value

$2.02M

Avg closing price

$16.39

Last action

Exited

2024Q3

Current —

G2124G112CHINA JO-JO DRUGSTORES INC

0.03%

of portfolio

Number of shares

403,334 sh

Holdings current value

$1.81M

Avg closing price

$2.20

Last action

Exited

2024Q1

Current —

CCCCCC INTELLIGENT SOLUTIONS HL

Technology·Software - Application

0.03%

of portfolio

Number of shares

200,000 sh

Holdings current value

$1.79M

Avg closing price

$10.51

-46.8%

Last action

Exited

2023Q2

Current $5.59

SRPTSAREPTA THERAPEUTICS INC

Healthcare·Biotechnology

0.03%

of portfolio

Number of shares

10,404 sh

Holdings current value

$1.43M

Avg closing price

$137.83

-84.6%

Last action

Exited

2023Q2

Current $21.17

IQIQIYI INCADR

Communication Services·Entertainment

0.02%

of portfolio

Number of shares

172,300 sh

Holdings current value

$1.25M

Avg closing price

$18.04

Last action

Exited

2024Q1

Current —

G9845F109YS BIOPHARMA CO LTD

0.02%

of portfolio

Number of shares

751,790 sh

Holdings current value

$1.20M

Avg closing price

$1.60

Last action

Exited

2024Q4

Current —

ROOTROOT INC

Financial Services·Insurance - Property & Casualty

0.01%

of portfolio

Number of shares

138,977 sh

Holdings current value

$626.8K

Avg closing price

$0.01

Last action

Exited

2023Q2

Current —

91818X207UXIN LTD

0.01%

of portfolio

Number of shares

191,563 sh

Holdings current value

$429.1K

Avg closing price

$2.88

Last action

Exited

2024Q1

Current —

G29018101DLOCAL LTD

0.00%

of portfolio

Number of shares

6,800 sh

Holdings current value

$110.3K

Avg closing price

$0.02

Last action

Exited

2023Q2

Current —

SRZNWSURROZEN INCWT

0.00%

of portfolio

Number of shares

399,999 sh

Holdings current value

$24.4K

Avg closing price

$1.14

Last action

Exited

2024Q3

Current —

Portfolio heatmap

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

ON HLDG AG

1.81%

ENFUSION INC

0.93%

CPNG

0.92% · +34.3%

YATSEN HLDG LTD

0.92%

46 more

7.47%

Sector exposure

Share of dollar value across the latest reported portfolio. Unclassified positions excluded.

Consumer Cyclical12 pos$1.91B35.7%
Healthcare12 pos$1.67B31.2%
Technology12 pos$672.4M12.6%
Real Estate1 pos$588.4M11.0%
Basic Materials2 pos$268.2M5.0%
Communication Services7 pos$128.5M2.4%
Consumer Defensive1 pos$74.7M1.4%
Financial Services2 pos$22.3M0.4%
Industrials1 pos$12.3M0.2%

(5.3% unclassified, excluded from %)