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 · 2024Q1

Sector63 positions

PDDPINDUODUO INCADR

Consumer Cyclical·Internet Retail

29.77%

of portfolio

Number of shares

11,791,547 sh

Holdings current value

$1.37B

Avg closing price

$112.77

Last action

Added 22.0%

2025Q4

Current —

ONCBEIGENE LTDADR

Healthcare·Biotechnology

17.58%

of portfolio

Number of shares

5,176,906 sh

Holdings current value

$809.62M

Avg closing price

$136.90

Last action

Trimmed 34.9%

2025Q1

Current —

BEKEKE HLDGS INCADR

Real Estate·Real Estate Services

8.70%

of portfolio

Number of shares

29,181,868 sh

Holdings current value

$400.67M

Avg closing price

$21.59

Last action

Trimmed 10.0%

2025Q3

Current —

LEGNLEGEND BIOTECH CORPADR

Healthcare·Biotechnology

7.29%

of portfolio

Number of shares

5,984,550 sh

Holdings current value

$335.67M

Avg closing price

$47.95

Last action

Trimmed 9.8%

2024Q4

Current —

MSFTMICROSOFT CORP

Technology·Software - Infrastructure

6.32%

of portfolio

Number of shares

692,100 sh

Holdings current value

$291.18M

Avg closing price

$279.82

+51.1%

Last action

Exited

2024Q3

Current $422.79

AMDADVANCED MICRO DEVICES INC

Technology·Semiconductors

3.58%

of portfolio

Number of shares

912,400 sh

Holdings current value

$164.68M

Avg closing price

$176.96

+57.2%

Last action

Exited

2024Q2

Current $278.26

AMZNAMAZON COM INC

Consumer Cyclical·Internet Retail

3.22%

of portfolio

Number of shares

822,900 sh

Holdings current value

$148.43M

Avg closing price

$134.35

+85.9%

Last action

Exited

2024Q3

Current $249.70

CRMSALESFORCE COM INC

Technology·Software - Application

3.02%

of portfolio

Number of shares

462,137 sh

Holdings current value

$139.19M

Avg closing price

$202.27

-10.4%

Last action

Exited

2024Q3

Current $181.22

DHRDANAHER CORPORATION

Healthcare·Diagnostics & Research

2.55%

of portfolio

Number of shares

471,100 sh

Holdings current value

$117.64M

Avg closing price

$231.89

-16.4%

Last action

Exited

2025Q2

Current $193.78

TTWOTAKE-TWO INTERACTIVE SOFTWAR

Communication Services·Electronic Gaming & Multimedia

2.53%

of portfolio

Number of shares

783,000 sh

Holdings current value

$116.27M

Avg closing price

$147.16

Last action

Exited

2024Q2

Current —

DASHDOORDASH INC

Consumer Cyclical·Internet Retail

1.75%

of portfolio

Number of shares

583,463 sh

Holdings current value

$80.35M

Avg closing price

$115.41

+55.4%

Last action

Exited

2024Q3

Current $179.33

AVBPARRIVENT BIOPHARMA INC

Healthcare·Biotechnology

1.52%

of portfolio

Number of shares

3,929,117 sh

Holdings current value

$70.17M

Avg closing price

$17.95

Last action

Trimmed 12.4%

2025Q4

Current —

G5269C101KINIKSA PHARMACEUTICALS LTD

1.34%

of portfolio

Number of shares

3,135,735 sh

Holdings current value

$61.87M

Avg closing price

$20.59

Last action

Exited

2024Q2

Current —

MCOMOODYS CORP

Financial Services·Financial Data & Stock Exchanges

1.33%

of portfolio

Number of shares

155,846 sh

Holdings current value

$61.25M

Avg closing price

$449.99

Last action

Added 0.3%

2025Q3

Current —

292812104ENFUSION INC

1.00%

of portfolio

Number of shares

4,975,183 sh

Holdings current value

$46.02M

Avg closing price

$20.94

Last action

Exited

2025Q2

Current —

CTKBCYTEK BIOSCIENCES INC

Healthcare·Medical Devices

0.97%

of portfolio

Number of shares

6,657,030 sh

Holdings current value

$44.67M

Avg closing price

$21.41

Last action

Trimmed 13.6%

2023Q2

Current —

BBIOBRIDGEBIO PHARMA INC

Healthcare·Biotechnology

0.92%

of portfolio

Number of shares

1,367,489 sh

Holdings current value

$42.28M

Avg closing price

$29.14

+166.0%

Last action

Exited

2025Q1

Current $77.51

HTHTHUAZHU GROUP LTDADR

Consumer Cyclical·Lodging

0.79%

of portfolio

Number of shares

935,920 sh

Holdings current value

$36.22M

Avg closing price

$47.21

Last action

Exited

2025Q2

Current —

CPNGCOUPANG INC

Consumer Cyclical·Internet Retail

0.41%

of portfolio

Number of shares

1,071,500 sh

Holdings current value

$19.06M

Avg closing price

$25.06

-14.2%

Last action

Exited

2024Q3

Current $21.49

BIDUBAIDU INCADR

Communication Services·Internet Content & Information

0.34%

of portfolio

Number of shares

150,600 sh

Holdings current value

$15.86M

Avg closing price

$131.21

-4.7%

Last action

Exited

2025Q4

Current $125.03

NTESNETEASE INCADR

Communication Services·Electronic Gaming & Multimedia

0.34%

of portfolio

Number of shares

149,700 sh

Holdings current value

$15.49M

Avg closing price

$94.08

Last action

Exited

2025Q4

Current —

YSGYATSEN HLDG LTDADR

Consumer Defensive·Household & Personal Products

0.32%

of portfolio

Number of shares

6,987,839 sh

Holdings current value

$14.74M

Avg closing price

$2.11

Last action

Trimmed 14.9%

2025Q3

Current —

H5919C104ON HLDG AG

0.32%

of portfolio

Number of shares

411,400 sh

Holdings current value

$14.56M

Avg closing price

$30.13

Last action

Exited

2024Q3

Current —

MDLZMONDELEZ INTL INC

Consumer Defensive·Confectioners

0.30%

of portfolio

Number of shares

196,288 sh

Holdings current value

$13.74M

Avg closing price

$40.03

+42.6%

Last action

Exited

2024Q2

Current $57.07

ZTOZTO EXPRESS CAYMAN INCADR

Industrials·Integrated Freight & Logistics

0.30%

of portfolio

Number of shares

654,524 sh

Holdings current value

$13.71M

Avg closing price

$23.05

Last action

Exited

2025Q3

Current —

TSMTAIWAN SEMICONDUCTOR MFG LTDADR

Technology·Semiconductors

0.29%

of portfolio

Number of shares

98,100 sh

Holdings current value

$13.35M

Avg closing price

$147.43

+146.5%

Last action

New holding

2025Q4

Current $363.35

NBPI MABADR

Healthcare·Biotechnology

0.28%

of portfolio

Number of shares

6,909,220 sh

Holdings current value

$12.85M

Avg closing price

$50.06

Last action

Trimmed 11.8%

2024Q4

Current —

NVDANVIDIA CORPORATION

Technology·Semiconductors

0.27%

of portfolio

Number of shares

13,600 sh

Holdings current value

$12.29M

Avg closing price

$148.06

+35.5%

Last action

Exited

2024Q3

Current $200.57

BABAALIBABA GROUP HLDG LTDADR

Consumer Cyclical·Internet Retail

0.23%

of portfolio

Number of shares

143,900 sh

Holdings current value

$10.41M

Avg closing price

$146.43

-5.4%

Last action

Added

2025Q4

Current $138.59

SESEA LTDADR

Consumer Cyclical·Internet Retail

0.20%

of portfolio

Number of shares

174,800 sh

Holdings current value

$9.39M

Avg closing price

$110.85

-18.4%

Last action

Exited

2025Q4

Current $90.40

APPAPPLOVIN CORP

Communication Services·Advertising Agencies

0.20%

of portfolio

Number of shares

130,800 sh

Holdings current value

$9.05M

Avg closing price

$74.84

+522.8%

Last action

Exited

2024Q3

Current $466.09

GOOGALPHABET INC

Communication Services·Internet Content & Information

0.19%

of portfolio

Number of shares

58,900 sh

Holdings current value

$8.97M

Avg closing price

$130.66

+154.7%

Last action

Exited

2024Q3

Current $332.77

MUMICRON TECHNOLOGY INC

Technology·Semiconductors

0.18%

of portfolio

Number of shares

72,100 sh

Holdings current value

$8.50M

Avg closing price

$117.95

+287.7%

Last action

Exited

2024Q3

Current $457.23

MGXMETAGENOMI INC

0.18%

of portfolio

Number of shares

777,768 sh

Holdings current value

$8.21M

Avg closing price

$10.55

Last action

Exited

2025Q2

Current —

SOHUSOHU COM LTDADR

Communication Services·Electronic Gaming & Multimedia

0.16%

of portfolio

Number of shares

713,400 sh

Holdings current value

$7.54M

Avg closing price

$17.42

Last action

Exited

2025Q2

Current —

GOSSGOSSAMER BIO INC

Healthcare·Biotechnology

0.13%

of portfolio

Number of shares

4,974,041 sh

Holdings current value

$5.87M

Avg closing price

$16.64

Last action

Trimmed 33.0%

2022Q4

Current —

MRVLMARVELL TECHNOLOGY INC

Technology·Semiconductors

0.09%

of portfolio

Number of shares

59,500 sh

Holdings current value

$4.22M

Avg closing price

$70.88

+88.2%

Last action

Exited

2024Q2

Current $133.37

SGMTSAGIMET BIOSCIENCES INC

Healthcare·Biotechnology

0.09%

of portfolio

Number of shares

724,800 sh

Holdings current value

$3.93M

Avg closing price

$8.80

Last action

Trimmed 50.0%

2024Q1

Current —

PACBPACIFIC BIOSCIENCES CALIF IN

Healthcare·Medical Devices

0.07%

of portfolio

Number of shares

918,892 sh

Holdings current value

$3.45M

Avg closing price

$25.40

-93.6%

Last action

New holding

2023Q3

Current $1.63

GEGENERAL ELECTRIC CO

Industrials·Aerospace & Defense

0.07%

of portfolio

Number of shares

18,800 sh

Holdings current value

$3.30M

Avg closing price

$219.71

+35.8%

Last action

Added 24.8%

2025Q3

Current $298.29

VIPSVIPSHOP HOLDINGS LIMITEDADR

Consumer Cyclical·Internet Retail

0.07%

of portfolio

Number of shares

198,600 sh

Holdings current value

$3.29M

Avg closing price

$13.18

Last action

Exited

2025Q3

Current —

ASMLASML HOLDING N V

Technology·Semiconductor Equipment & Materials

0.07%

of portfolio

Number of shares

3,300 sh

Holdings current value

$3.20M

Avg closing price

$990.01

+42.5%

Last action

Exited

2024Q3

Current $1411

VRTVERTIV HOLDINGS CO

Industrials·Electrical Equipment & Parts

0.07%

of portfolio

Number of shares

38,200 sh

Holdings current value

$3.12M

Avg closing price

$81.67

+260.1%

Last action

Exited

2024Q2

Current $294.13

METAMETA PLATFORMS INC

Communication Services·Internet Content & Information

0.06%

of portfolio

Number of shares

6,000 sh

Holdings current value

$2.91M

Avg closing price

$458.81

+47.5%

Last action

Exited

2024Q4

Current $676.87

URAGLOBAL X FDSETF

0.06%

of portfolio

Number of shares

100,000 sh

Holdings current value

$2.88M

Avg closing price

$28.85

+91.6%

Last action

Exited

2024Q4

Current $55.27

AVGOBROADCOM INC

Technology·Semiconductors

0.06%

of portfolio

Number of shares

2,100 sh

Holdings current value

$2.78M

Avg closing price

$1325

-69.9%

Last action

Exited

2024Q3

Current $398.47

TUYATUYA INCADR

Technology·Software - Infrastructure

0.06%

of portfolio

Number of shares

1,564,400 sh

Holdings current value

$2.74M

Avg closing price

$21.14

Last action

Trimmed 2.2%

2024Q1

Current —

EMSMART SH GLOBAL LTDADR

0.06%

of portfolio

Number of shares

3,949,700 sh

Holdings current value

$2.60M

Avg closing price

$6.07

Last action

Exited

2025Q4

Current —

AAPLAPPLE INC

Technology·Consumer Electronics

0.04%

of portfolio

Number of shares

11,700 sh

Holdings current value

$2.01M

Avg closing price

$199.34

+35.6%

Last action

Exited

2024Q3

Current $270.23

BEDUBRIGHT SCHOLAR ED HLDGS LTDADR

0.04%

of portfolio

Number of shares

988,143 sh

Holdings current value

$1.96M

Avg closing price

$0.00

Last action

Exited

2025Q4

Current —

01626L105ALIGOS THERAPEUTICS INC

0.04%

of portfolio

Number of shares

1,906,191 sh

Holdings current value

$1.87M

Avg closing price

$16.39

Last action

Exited

2024Q3

Current —

JDJD.COM INCADR

Consumer Cyclical·Internet Retail

0.04%

of portfolio

Number of shares

61,250 sh

Holdings current value

$1.68M

Avg closing price

$40.60

Last action

Exited

2025Q3

Current —

PYXSPYXIS ONCOLOGY INC

0.04%

of portfolio

Number of shares

382,606 sh

Holdings current value

$1.63M

Avg closing price

$10.97

Last action

Exited

2025Q1

Current —

MOGUMOGU INCADR

0.03%

of portfolio

Number of shares

847,510 sh

Holdings current value

$1.60M

Avg closing price

$3.52

Last action

Trimmed 2.6%

2023Q1

Current —

BZKANZHUN LIMITEDADR

Communication Services·Internet Content & Information

0.03%

of portfolio

Number of shares

89,100 sh

Holdings current value

$1.56M

Avg closing price

$20.51

Last action

Exited

2025Q3

Current —

ANETEURARISTA NETWORKS INC

0.02%

of portfolio

Number of shares

3,600 sh

Holdings current value

$1.04M

Avg closing price

$328.26

Last action

Exited

2024Q3

Current —

ATATATOUR LIFESTYLE HLDGS LTDADR

Consumer Cyclical·Lodging

0.02%

of portfolio

Number of shares

50,000 sh

Holdings current value

$897.0K

Avg closing price

$26.13

Last action

Exited

2025Q2

Current —

G9845F109YS BIOPHARMA CO LTD

0.01%

of portfolio

Number of shares

751,790 sh

Holdings current value

$526.3K

Avg closing price

$1.60

Last action

Exited

2024Q4

Current —

QCOMQUALCOMM INC

Technology·Semiconductors

0.01%

of portfolio

Number of shares

3,000 sh

Holdings current value

$507.9K

Avg closing price

$177.14

-24.1%

Last action

Exited

2024Q3

Current $134.47

YMMFULL TRUCK ALLIANCE CO LTDADR

Technology·Software - Application

0.00%

of portfolio

Number of shares

13,519 sh

Holdings current value

$98.3K

Avg closing price

$12.95

Last action

Exited

2025Q4

Current —

G2124G120RIDGETECH INC

0.00%

of portfolio

Number of shares

20,167 sh

Holdings current value

$62.9K

Avg closing price

$3.12

Last action

New holding

2024Q1

Current —

CEGCONSTELLATION ENERGY CORP

Utilities·Utilities - Independent Power Producers

0.00%

of portfolio

Number of shares

300 sh

Holdings current value

$55.5K

Avg closing price

$184.85

+61.8%

Last action

Exited

2024Q2

Current $299.14

UXINUXIN LTDADR

0.00%

of portfolio

Number of shares

19,156 sh

Holdings current value

$40.6K

Avg closing price

$2.12

Last action

New holding

2024Q1

Current —

Portfolio heatmap

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

KINIKSA PHARMACEUTICALS LTD

1.34%

MCO

1.33%

ENFUSION INC

1.00%

ON HLDG AG

0.32%

MDLZ

0.30% · -18.5%

39 more

3.78%

Sector exposure

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

Consumer Cyclical10 pos$1.68B37.7%
Healthcare10 pos$1.45B32.4%
Technology13 pos$644.7M14.5%
Real Estate1 pos$400.7M9.0%
Communication Services8 pos$177.7M4.0%
Financial Services1 pos$61.3M1.4%
Consumer Defensive2 pos$28.5M0.6%
Industrials3 pos$20.1M0.5%
Utilities1 pos$55K0.0%

(3.1% unclassified, excluded from %)