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 · 2024Q3

Sector48 positions

ONCBEIGENE LTDADR

Healthcare·Biotechnology

25.52%

of portfolio

Number of shares

5,176,906 sh

Holdings current value

$1.16B

Avg closing price

$136.90

Last action

Trimmed 34.9%

2025Q1

Current —

BABAALIBABA GROUP HLDG LTDADR

Consumer Cyclical·Internet Retail

20.57%

of portfolio

Number of shares

8,827,600 sh

Holdings current value

$936.78M

Avg closing price

$146.43

-5.4%

Last action

Added 32.0%

2025Q4

Current $138.59

PDDPINDUODUO INCADR

Consumer Cyclical·Internet Retail

14.11%

of portfolio

Number of shares

4,766,780 sh

Holdings current value

$642.61M

Avg closing price

$112.77

Last action

Added 80.7%

2025Q4

Current —

LEGNLEGEND BIOTECH CORPADR

Healthcare·Biotechnology

7.10%

of portfolio

Number of shares

6,636,496 sh

Holdings current value

$323.40M

Avg closing price

$47.95

Last action

Trimmed 8.9%

2024Q4

Current —

VIPSVIPSHOP HOLDINGS LIMITEDADR

Consumer Cyclical·Internet Retail

5.43%

of portfolio

Number of shares

15,720,322 sh

Holdings current value

$247.28M

Avg closing price

$13.18

Last action

Exited

2025Q3

Current —

NTESNETEASE INCADR

Communication Services·Electronic Gaming & Multimedia

5.31%

of portfolio

Number of shares

2,588,943 sh

Holdings current value

$242.09M

Avg closing price

$94.08

Last action

Exited

2025Q4

Current —

BEKEKE HLDGS INCADR

Real Estate·Real Estate Services

4.75%

of portfolio

Number of shares

10,868,688 sh

Holdings current value

$216.40M

Avg closing price

$21.59

Last action

Trimmed 22.9%

2025Q3

Current —

TCOMTRIP COM GROUP LTDADR

Consumer Cyclical·Travel Services

2.32%

of portfolio

Number of shares

1,774,432 sh

Holdings current value

$105.45M

Avg closing price

$48.86

Last action

Exited

2025Q2

Current —

AVBPARRIVENT BIOPHARMA INC

Healthcare·Biotechnology

2.31%

of portfolio

Number of shares

4,484,672 sh

Holdings current value

$105.39M

Avg closing price

$17.95

Last action

Trimmed 11.0%

2025Q4

Current —

FUTUFUTU HLDGS LTDADR

Financial Services·Capital Markets

2.21%

of portfolio

Number of shares

1,051,089 sh

Holdings current value

$100.54M

Avg closing price

$94.94

+73.9%

Last action

Trimmed 60.5%

2025Q4

Current $165.06

ZTOZTO EXPRESS CAYMAN INCADR

Industrials·Integrated Freight & Logistics

1.63%

of portfolio

Number of shares

3,003,008 sh

Holdings current value

$74.38M

Avg closing price

$23.05

Last action

Exited

2025Q3

Current —

JDJD.COM INCADR

Consumer Cyclical·Internet Retail

1.40%

of portfolio

Number of shares

1,600,000 sh

Holdings current value

$64.00M

Avg closing price

$40.60

Last action

Exited

2025Q3

Current —

292812104ENFUSION INC

1.04%

of portfolio

Number of shares

4,975,183 sh

Holdings current value

$47.21M

Avg closing price

$20.94

Last action

Exited

2025Q2

Current —

G52694109KINIKSA PHARMACEUTICALS INTL

0.87%

of portfolio

Number of shares

1,582,635 sh

Holdings current value

$39.55M

Avg closing price

$18.67

Last action

Exited

2025Q1

Current —

CTKBCYTEK BIOSCIENCES INC

Healthcare·Medical Devices

0.81%

of portfolio

Number of shares

6,657,030 sh

Holdings current value

$36.88M

Avg closing price

$21.41

Last action

Trimmed 13.6%

2023Q2

Current —

BIDUBAIDU INCADR

Communication Services·Internet Content & Information

0.69%

of portfolio

Number of shares

300,000 sh

Holdings current value

$31.59M

Avg closing price

$131.21

-4.7%

Last action

Exited

2025Q4

Current $125.03

YUMCYUM CHINA HLDGS INC

Consumer Cyclical·Restaurants

0.66%

of portfolio

Number of shares

665,863 sh

Holdings current value

$29.98M

Avg closing price

$45.02

Last action

Exited

2025Q2

Current —

BBIOBRIDGEBIO PHARMA INC

Healthcare·Biotechnology

0.57%

of portfolio

Number of shares

1,023,950 sh

Holdings current value

$26.07M

Avg closing price

$29.14

+166.0%

Last action

Exited

2025Q1

Current $77.51

YSGYATSEN HLDG LTDADR

Consumer Defensive·Household & Personal Products

0.52%

of portfolio

Number of shares

6,987,839 sh

Holdings current value

$23.83M

Avg closing price

$2.11

Last action

Trimmed 14.9%

2025Q3

Current —

HTHTHUAZHU GROUP LTDADR

Consumer Cyclical·Lodging

0.46%

of portfolio

Number of shares

568,613 sh

Holdings current value

$21.15M

Avg closing price

$47.21

Last action

Exited

2025Q2

Current —

CTNMCONTINEUM THERAPEUTICS INC

Healthcare·Biotechnology

0.28%

of portfolio

Number of shares

669,337 sh

Holdings current value

$12.81M

Avg closing price

$17.61

Last action

New holding

2024Q2

Current —

SOHUSOHU COM LTDADR

Communication Services·Electronic Gaming & Multimedia

0.25%

of portfolio

Number of shares

713,400 sh

Holdings current value

$11.24M

Avg closing price

$17.42

Last action

Exited

2025Q2

Current —

NBPI MABADR

Healthcare·Biotechnology

0.19%

of portfolio

Number of shares

6,909,220 sh

Holdings current value

$8.57M

Avg closing price

$50.06

Last action

Trimmed 11.8%

2024Q4

Current —

GOSSGOSSAMER BIO INC

Healthcare·Biotechnology

0.11%

of portfolio

Number of shares

4,974,041 sh

Holdings current value

$4.91M

Avg closing price

$16.64

Last action

Trimmed 33.0%

2022Q4

Current —

TSMTAIWAN SEMICONDUCTOR MFG LTDADR

Technology·Semiconductors

0.07%

of portfolio

Number of shares

19,395 sh

Holdings current value

$3.37M

Avg closing price

$147.43

+146.5%

Last action

New holding

2025Q4

Current $363.35

ZKNZEEKR INTELLIGENT TECHNOLOGYADR

0.07%

of portfolio

Number of shares

145,000 sh

Holdings current value

$3.23M

Avg closing price

$18.84

Last action

Exited

2024Q4

Current —

URAGLOBAL X FDSETF

0.06%

of portfolio

Number of shares

100,000 sh

Holdings current value

$2.86M

Avg closing price

$28.85

+91.6%

Last action

Exited

2024Q4

Current $55.27

EMSMART SH GLOBAL LTDADR

0.06%

of portfolio

Number of shares

3,949,700 sh

Holdings current value

$2.80M

Avg closing price

$6.07

Last action

Exited

2025Q4

Current —

KWEBKRANESHARES TRETF

0.06%

of portfolio

Number of shares

79,500 sh

Holdings current value

$2.70M

Avg closing price

$34.02

Last action

Exited

2024Q4

Current —

TUYATUYA INCADR

Technology·Software - Infrastructure

0.06%

of portfolio

Number of shares

1,564,400 sh

Holdings current value

$2.58M

Avg closing price

$21.14

Last action

Trimmed 2.2%

2024Q1

Current —

DHRDANAHER CORPORATION

Healthcare·Diagnostics & Research

0.06%

of portfolio

Number of shares

9,104 sh

Holdings current value

$2.53M

Avg closing price

$231.89

-16.4%

Last action

Exited

2025Q2

Current $193.78

METAMETA PLATFORMS INC

Communication Services·Internet Content & Information

0.05%

of portfolio

Number of shares

4,000 sh

Holdings current value

$2.29M

Avg closing price

$458.81

+47.5%

Last action

Exited

2024Q4

Current $676.87

MOGUMOGU INCADR

0.05%

of portfolio

Number of shares

847,510 sh

Holdings current value

$2.17M

Avg closing price

$3.52

Last action

Trimmed 2.6%

2023Q1

Current —

SGMTSAGIMET BIOSCIENCES INC

Healthcare·Biotechnology

0.04%

of portfolio

Number of shares

724,800 sh

Holdings current value

$2.01M

Avg closing price

$8.80

Last action

Trimmed 50.0%

2024Q1

Current —

BEDUBRIGHT SCHOLAR ED HLDGS LTDADR

0.04%

of portfolio

Number of shares

988,143 sh

Holdings current value

$2.01M

Avg closing price

$0.00

Last action

Exited

2025Q4

Current —

GEVGE VERNOVA LLC

Industrials·Specialty Industrial Machinery

0.04%

of portfolio

Number of shares

7,746 sh

Holdings current value

$1.98M

Avg closing price

$173.12

+465.1%

Last action

Exited

2025Q1

Current $978.32

MGXMETAGENOMI INC

0.04%

of portfolio

Number of shares

777,768 sh

Holdings current value

$1.69M

Avg closing price

$10.55

Last action

Exited

2025Q2

Current —

PACBPACIFIC BIOSCIENCES CALIF IN

Healthcare·Medical Devices

0.03%

of portfolio

Number of shares

918,892 sh

Holdings current value

$1.56M

Avg closing price

$25.40

-93.6%

Last action

New holding

2023Q3

Current $1.63

PYXSPYXIS ONCOLOGY INC

0.03%

of portfolio

Number of shares

382,606 sh

Holdings current value

$1.40M

Avg closing price

$10.97

Last action

Exited

2025Q1

Current —

D0ADADA NEXUS LTDADR

0.03%

of portfolio

Number of shares

600,000 sh

Holdings current value

$1.14M

Avg closing price

$1.25

Last action

Exited

2025Q1

Current —

JOYYJOYY INCADR

Communication Services·Internet Content & Information

0.02%

of portfolio

Number of shares

30,000 sh

Holdings current value

$1.09M

Avg closing price

$83.07

Last action

Exited

2025Q2

Current —

GEGENERAL ELECTRIC CO

Industrials·Aerospace & Defense

0.02%

of portfolio

Number of shares

5,713 sh

Holdings current value

$1.08M

Avg closing price

$219.71

+35.8%

Last action

Added 189.3%

2025Q3

Current $298.29

MCOMOODYS CORP

Financial Services·Financial Data & Stock Exchanges

0.02%

of portfolio

Number of shares

1,502 sh

Holdings current value

$712.8K

Avg closing price

$449.99

Last action

Added 37.8%

2025Q3

Current —

ALGSALIGOS THERAPEUTICS INC

0.01%

of portfolio

Number of shares

76,247 sh

Holdings current value

$660.3K

Avg closing price

$8.66

Last action

New holding

2024Q3

Current —

G9845F109YS BIOPHARMA CO LTD

0.01%

of portfolio

Number of shares

751,790 sh

Holdings current value

$512.7K

Avg closing price

$1.60

Last action

Exited

2024Q4

Current —

G8994E103TRANE TECHNOLOGIES PLC

0.01%

of portfolio

Number of shares

753 sh

Holdings current value

$292.7K

Avg closing price

$356.33

Last action

Exited

2025Q1

Current —

UXINUXIN LTDADR

0.00%

of portfolio

Number of shares

19,156 sh

Holdings current value

$128.5K

Avg closing price

$2.12

Last action

New holding

2024Q1

Current —

G2124G120RIDGETECH INC

0.00%

of portfolio

Number of shares

20,167 sh

Holdings current value

$43.8K

Avg closing price

$3.12

Last action

New holding

2024Q1

Current —

Portfolio heatmap

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

ENFUSION INC

1.04%

KINIKSA PHARMACEUTICALS INTL

0.87%

24 more

0.90%

Sector exposure

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

Consumer Cyclical7 pos$2.05B46.0%
Healthcare11 pos$1.69B37.9%
Communication Services5 pos$288.3M6.5%
Real Estate1 pos$216.4M4.9%
Financial Services2 pos$101.2M2.3%
Industrials3 pos$77.4M1.7%
Consumer Defensive1 pos$23.8M0.5%
Technology2 pos$5.9M0.1%

(2.4% unclassified, excluded from %)