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

33

Quarter

2025Q4

Filings tracked

29

1Y+48.9%3Y+120.7%5Y+66.0%Full performance →

Quarter

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

Capital flow per quarter

BuysSellsNet

Latest · 2025Q4

-$350M

Lifetime buys

$10.99B

Lifetime sells

$13.47B

Quarter activity

What changed in 2025Q4 — net new, added, trimmed, exited.

New positions6 names

TSMTAIWAN SEMICONDUCTOR MFG LTD
+11,300
$3.4M
GOOGLALPHABET INC
+7,300
$2.3M
IBITISHARES BITCOIN TR
+35,300
$1.8M
AXIACENTRAIS ELETRICAS BRASILEIR
+96,600
$885K
VNETVNET GROUP INC
+53,100
$449K
AXIA/PCCENTRAIS ELET BRAS SA
+25,390
$219K

Added to2 names

BABAALIBABA GROUP HLDG LTD
+2,140,680
$313.8M
PDDPINDUODUO INC
+2,128,800
$241.4M

Trimmed3 names

FUTUFUTU HLDGS LTD
−1,607,930
$264.0M
G9572DWEBULL CORP
−27,106,242
$210.6M
AVBPARRIVENT BIOPHARMA INC
−555,555
$11.2M

Exited6 names

BIDUBAIDU INC
−1,641,000
$216.2M
NTESNETEASE INC
−790,807
$120.2M
YMMFULL TRUCK ALLIANCE CO LTD
−4,066,553
$52.7M
SESEA LTD
−180,050
$32.2M
EMSMART SH GLOBAL LTD
−3,949,700
$5.3M
BEDUBRIGHT SCHOLAR ED HLDGS LTD
−988,143
$1.9M

Recent transactions

Last 20 moves

ADD

Hillhouse (HHLR Advisors) added to BABA

ALIBABA GROUP HLDG LTD

+2,140,680

~$146.58 · 2025Q4

2026-02-17

TRIM

Hillhouse (HHLR Advisors) trimmed AVBP

ARRIVENT BIOPHARMA INC

−555,555

~$20.12 · 2025Q4

2026-02-17

SOLD

Hillhouse (HHLR Advisors) exited BIDU

BAIDU INC

−1,641,000

~$131.77 · 2025Q4

2026-02-17

SOLD

Hillhouse (HHLR Advisors) exited BEDU

BRIGHT SCHOLAR ED HLDGS LTD

−988,143

~$1.95 · 2025Q4

2026-02-17

SOLD

Hillhouse (HHLR Advisors) exited YMM

FULL TRUCK ALLIANCE CO LTD

−4,066,553

~$12.97 · 2025Q4

2026-02-17

TRIM

Hillhouse (HHLR Advisors) trimmed FUTU

FUTU HLDGS LTD

−1,607,930

~$164.21 · 2025Q4

2026-02-17

SOLD

Hillhouse (HHLR Advisors) exited NTES

NETEASE INC

−790,807

~$151.99 · 2025Q4

2026-02-17

ADD

Hillhouse (HHLR Advisors) added to PDD

PINDUODUO INC

+2,128,800

~$113.39 · 2025Q4

2026-02-17

SOLD

Hillhouse (HHLR Advisors) exited SE

SEA LTD

−180,050

~$178.73 · 2025Q4

2026-02-17

SOLD

Hillhouse (HHLR Advisors) exited EM

SMART SH GLOBAL LTD

−3,949,700

~$1.35 · 2025Q4

2026-02-17

TRIM

Hillhouse (HHLR Advisors) trimmed G9572D103

WEBULL CORP

−27,106,242

~$7.77 · 2025Q4

2026-02-17

NEW

Hillhouse (HHLR Advisors) opened a new position in GOOGL

ALPHABET INC

+7,300

~$313.00 · 2025Q4

2026-02-17

NEW

Hillhouse (HHLR Advisors) opened a new position in AXIA

CENTRAIS ELETRICAS BRASILEIR

+96,600

~$9.16 · 2025Q4

2026-02-17

NEW

Hillhouse (HHLR Advisors) opened a new position in AXIA/PC

CENTRAIS ELET BRAS SA

+25,390

~$8.62 · 2025Q4

2026-02-17

NEW

Hillhouse (HHLR Advisors) opened a new position in IBIT

ISHARES BITCOIN TR

+35,300

~$49.65 · 2025Q4

2026-02-17

NEW

Hillhouse (HHLR Advisors) opened a new position in TSM

TAIWAN SEMICONDUCTOR MFG LTD

+11,300

~$303.89 · 2025Q4

2026-02-17

NEW

Hillhouse (HHLR Advisors) opened a new position in VNET

VNET GROUP INC

+53,100

~$8.46 · 2025Q4

2026-02-17

ADD

Hillhouse (HHLR Advisors) added to BABA

ALIBABA GROUP HLDG LTD

+2,139,966

~$178.73 · 2025Q3

2025-11-14

TRIM

Hillhouse (HHLR Advisors) trimmed FUTU

FUTU HLDGS LTD

−1,074,058

~$173.91 · 2025Q3

2025-11-14

ADD

Hillhouse (HHLR Advisors) added to GE

GENERAL ELECTRIC CO

+3,738

~$300.82 · 2025Q3

2025-11-14