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. 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.

Track Hillhouse's filings View holdings

Portfolio

$3.10B

Positions

Quarter

2025Q4

Filings tracked

1Y+48.9%3Y+120.7%5Y+30.7%Full performance →

Quarter

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

Holdings

Sorted by value · 2025Q3

Sector33 positions

PDDPINDUODUO INCADR

Consumer Cyclical·Internet Retail

27.76%

of portfolio

Number of shares

8,592,600 sh

Holdings current value

$1.14B

Avg closing price

$112.77

Last action

Added 32.9%

2025Q4

Current —

BABAALIBABA GROUP HLDG LTDADR

Consumer Cyclical·Internet Retail

14.37%

of portfolio

Number of shares

3,289,666 sh

Holdings current value

$587.96M

Avg closing price

$146.43

-5.4%

Last action

Added 186.3%

2025Q4

Current $138.59

FUTUFUTU HLDGS LTDADR

Financial Services·Capital Markets

13.77%

of portfolio

Number of shares

3,238,179 sh

Holdings current value

$563.15M

Avg closing price

$94.94

+73.9%

Last action

Trimmed 33.2%

2025Q4

Current $165.06

G9572D103WEBULL CORP

11.96%

of portfolio

Number of shares

33,080,846 sh

Holdings current value

$489.27M

Avg closing price

$11.96

Last action

Trimmed 45.0%

2025Q4

Current —

ONCBEIGENE LTDADR

Healthcare·Biotechnology

8.61%

of portfolio

Number of shares

1,034,306 sh

Holdings current value

$352.39M

Avg closing price

$136.90

Last action

Trimmed 72.8%

2025Q1

Current —

BIDUBAIDU INCADR

Communication Services·Internet Content & Information

5.29%

of portfolio

Number of shares

1,641,000 sh

Holdings current value

$216.23M

Avg closing price

$131.21

-4.7%

Last action

Exited

2025Q4

Current $125.03

LEGNLEGEND BIOTECH CORPADR

Healthcare·Biotechnology

4.77%

of portfolio

Number of shares

5,984,550 sh

Holdings current value

$195.16M

Avg closing price

$47.95

Last action

Trimmed 9.8%

2024Q4

Current —

NTESNETEASE INCADR

Communication Services·Electronic Gaming & Multimedia

2.94%

of portfolio

Number of shares

790,807 sh

Holdings current value

$120.19M

Avg closing price

$94.08

Last action

Exited

2025Q4

Current —

AVBPARRIVENT BIOPHARMA INC

Healthcare·Biotechnology

2.02%

of portfolio

Number of shares

4,484,672 sh

Holdings current value

$82.74M

Avg closing price

$17.95

Last action

Trimmed 11.0%

2025Q4

Current —

BEKEKE HLDGS INCADR

Real Estate·Real Estate Services

1.97%

of portfolio

Number of shares

4,236,278 sh

Holdings current value

$80.49M

Avg closing price

$21.59

Last action

Trimmed 43.3%

2025Q3

Current —

YMMFULL TRUCK ALLIANCE CO LTDADR

Technology·Software - Application

1.29%

of portfolio

Number of shares

4,066,553 sh

Holdings current value

$52.74M

Avg closing price

$12.95

Last action

Exited

2025Q4

Current —

YSGYATSEN HLDG LTDADR

Consumer Defensive·Household & Personal Products

1.08%

of portfolio

Number of shares

4,885,873 sh

Holdings current value

$44.27M

Avg closing price

$2.11

Last action

Trimmed 20.1%

2025Q3

Current —

SESEA LTDADR

Consumer Cyclical·Internet Retail

0.79%

of portfolio

Number of shares

180,050 sh

Holdings current value

$32.18M

Avg closing price

$110.85

-18.4%

Last action

Exited

2025Q4

Current $90.40

CWANCLEARWATER ANALYTICS HLDGS I

Technology·Software - Application

0.60%

of portfolio

Number of shares

1,365,971 sh

Holdings current value

$24.61M

Avg closing price

$21.93

Last action

New holding

2025Q2

Current —

CTKBCYTEK BIOSCIENCES INC

Healthcare·Medical Devices

0.56%

of portfolio

Number of shares

6,657,030 sh

Holdings current value

$23.10M

Avg closing price

$21.41

Last action

Trimmed 13.6%

2023Q2

Current —

NBPI MABADR

Healthcare·Biotechnology

0.55%

of portfolio

Number of shares

5,980,568 sh

Holdings current value

$22.61M

Avg closing price

$50.06

Last action

Trimmed 13.4%

2024Q4

Current —

GOSSGOSSAMER BIO INC

Healthcare·Biotechnology

0.32%

of portfolio

Number of shares

4,974,041 sh

Holdings current value

$13.08M

Avg closing price

$16.64

Last action

Trimmed 33.0%

2022Q4

Current —

MAZEMAZE THERAPEUTICS INC

Healthcare·Biotechnology

0.29%

of portfolio

Number of shares

457,535 sh

Holdings current value

$11.86M

Avg closing price

$11.01

Last action

New holding

2025Q1

Current —

APIAGORA INCADR

0.20%

of portfolio

Number of shares

2,098,553 sh

Holdings current value

$8.02M

Avg closing price

$4.73

Last action

New holding

2024Q4

Current —

CTNMCONTINEUM THERAPEUTICS INC

Healthcare·Biotechnology

0.19%

of portfolio

Number of shares

669,337 sh

Holdings current value

$7.86M

Avg closing price

$17.61

Last action

New holding

2024Q2

Current —

EMSMART SH GLOBAL LTDADR

0.13%

of portfolio

Number of shares

3,949,700 sh

Holdings current value

$5.33M

Avg closing price

$6.07

Last action

Exited

2025Q4

Current —

SGMTSAGIMET BIOSCIENCES INC

Healthcare·Biotechnology

0.12%

of portfolio

Number of shares

724,800 sh

Holdings current value

$4.97M

Avg closing price

$8.80

Last action

Trimmed 50.0%

2024Q1

Current —

TUYATUYA INCADR

Technology·Software - Infrastructure

0.09%

of portfolio

Number of shares

1,564,400 sh

Holdings current value

$3.86M

Avg closing price

$21.14

Last action

Trimmed 2.2%

2024Q1

Current —

GEGENERAL ELECTRIC CO

Industrials·Aerospace & Defense

0.07%

of portfolio

Number of shares

10,043 sh

Holdings current value

$3.02M

Avg closing price

$219.71

+35.8%

Last action

Added 59.3%

2025Q3

Current $298.29

MOGUMOGU INCADR

0.07%

of portfolio

Number of shares

847,510 sh

Holdings current value

$2.91M

Avg closing price

$3.52

Last action

Trimmed 2.6%

2023Q1

Current —

BEDUBRIGHT SCHOLAR ED HLDGS LTDADR

0.05%

of portfolio

Number of shares

988,143 sh

Holdings current value

$1.93M

Avg closing price

$0.00

Last action

Exited

2025Q4

Current —

MCOMOODYS CORP

Financial Services·Financial Data & Stock Exchanges

0.03%

of portfolio

Number of shares

2,888 sh

Holdings current value

$1.38M

Avg closing price

$449.99

Last action

Added 16.6%

2025Q3

Current —

PACBPACIFIC BIOSCIENCES CALIF IN

Healthcare·Medical Devices

0.03%

of portfolio

Number of shares

918,892 sh

Holdings current value

$1.18M

Avg closing price

$25.40

-93.6%

Last action

New holding

2023Q3

Current $1.63

EQXEQUINOX GOLD CORP

Basic Materials·Gold

0.02%

of portfolio

Number of shares

80,500 sh

Holdings current value

$902.8K

Avg closing price

$11.22

Last action

New holding

2025Q3

Current —

BBARRICK MNG CORP

Basic Materials·Gold

0.02%

of portfolio

Number of shares

25,400 sh

Holdings current value

$832.4K

Avg closing price

$32.77

+29.4%

Last action

New holding

2025Q3

Current $42.40

ALGSALIGOS THERAPEUTICS INC

0.02%

of portfolio

Number of shares

76,247 sh

Holdings current value

$747.2K

Avg closing price

$8.66

Last action

New holding

2024Q3

Current —

UXINUXIN LTDADR

0.00%

of portfolio

Number of shares

19,156 sh

Holdings current value

$66.3K

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

$24.6K

Avg closing price

$3.12

Last action

New holding

2024Q1

Current —

Portfolio heatmap

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

Sector exposure

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

Consumer Cyclical3 pos$1.76B49.0%
Healthcare10 pos$715.0M20.0%
Financial Services2 pos$564.5M15.8%
Communication Services2 pos$336.4M9.4%
Technology3 pos$81.2M2.3%
Real Estate1 pos$80.5M2.2%
Consumer Defensive1 pos$44.3M1.2%
Industrials1 pos$3.0M0.1%
Basic Materials2 pos$1.7M0.0%

(12.4% unclassified, excluded from %)