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.
Portfolio
$3.10B
Positions
33
Quarter
2025Q4
Filings tracked
29
Capital flow per quarter
BuysSellsNet
Latest · 2025Q4
-$350M
Lifetime buys
$10.99B
Lifetime sells
$13.47B
Quarter activity
What changed in 2023Q1 — net new, added, trimmed, exited.
New positions14 names
- BIDUBAIDU INC+405,900$61.3M
- BMRNBIOMARIN PHARMACEUTICAL INC+308,693$30.0M
- LILI AUTO INC+1,030,972$25.7M
- TMOTHERMO FISHER SCIENTIFIC INC+25,800$14.9M
- ZTOZTO EXPRESS CAYMAN INC+430,500$12.3M
- CTLTEURCATALENT INC+187,000$12.3M
- EXKEXACT SCIENCES CORP+170,094$11.5M
- SNYSANOFI+205,700$11.2M
- AMDADVANCED MICRO DEVICES INC+113,100$11.1M
- REGNREGENERON PHARMACEUTICALS+12,500$10.3M
- 81181CSEAGEN INC+38,350$7.8M
- WOLF*WOLFSPEED INC+70,000$4.5M
- + 2 more…
Added to9 names
- PDDPINDUODUO INC+7,739,047$587.4M
- BEKEKE HLDGS INC+10,183,069$191.8M
- HTHTHUAZHU GROUP LTD+3,050,373$149.4M
- BABAALIBABA GROUP HLDG LTD+662,316$67.7M
- MSFTMICROSOFT CORP+82,800$23.9M
- YMMFULL TRUCK ALLIANCE CO LTD+1,466,900$11.2M
- TLTISHARES TR+55,100$5.9M
- FUTUFUTU HLDGS LTD+96,387$5.0M
- AMZNAMAZON COM INC+29,500$3.0M
Trimmed27 names
- VIPSVIPSHOP HOLDINGS LIMITED−16,684,303$253.3M
- JDJD.COM INC−4,225,411$185.5M
- IQIQIYI INC−11,991,500$87.3M
- H5919CON HLDG AG−2,177,300$67.6M
- BZKANZHUN LIMITED−1,288,383$24.5M
- BBIOBRIDGEBIO PHARMA INC−1,208,815$20.0M
- G5269CKINIKSA PHARMACEUTICALS LTD−1,605,833$17.3M
- CTKBCYTEK BIOSCIENCES INC−981,016$9.0M
- DYNDYNE THERAPEUTICS INC−461,247$5.3M
- 25459WDIREXION SHS ETF TR−406,950$3.6M
- DASHDOORDASH INC−53,800$3.4M
- DQDAQO NEW ENERGY CORP−64,315$3.0M
- + 15 more…
Exited11 names
- QQQINVESCO QQQ TR−144,800$38.6M
- JKSJINKOSOLAR HLDG CO LTD−654,049$26.7M
- RUNSUNRUN INC−344,800$8.3M
- TCOMTRIP COM GROUP LTD−180,000$6.2M
- ENPHENPHASE ENERGY INC−19,300$5.1M
- TSMTAIWAN SEMICONDUCTOR MFG LTD−60,000$4.5M
- TQQQPROSHARES TR−230,000$4.0M
- ALLOALLOGENE THERAPEUTICS INC−623,434$3.9M
- MRNAMODERNA INC−15,000$2.7M
- IPSCCENTURY THERAPEUTICS INC−496,624$2.5M
- 86889PSURROZEN INC−1,161,400$676K
Recent transactions
Last 20 moves
ADD
ALIBABA GROUP HLDG LTD
+2,140,680
~$146.58 · 2025Q4
2026-02-17
SOLD
BRIGHT SCHOLAR ED HLDGS LTD
−988,143
~$1.95 · 2025Q4
2026-02-17
SOLD
FULL TRUCK ALLIANCE CO LTD
−4,066,553
~$12.97 · 2025Q4
2026-02-17
NEW
ALPHABET INC
+7,300
~$313.00 · 2025Q4
2026-02-17
NEW
CENTRAIS ELETRICAS BRASILEIR
+96,600
~$9.16 · 2025Q4
2026-02-17
NEW
CENTRAIS ELET BRAS SA
+25,390
~$8.62 · 2025Q4
2026-02-17
NEW
ISHARES BITCOIN TR
+35,300
~$49.65 · 2025Q4
2026-02-17
NEW
TAIWAN SEMICONDUCTOR MFG LTD
+11,300
~$303.89 · 2025Q4
2026-02-17
NEW
VNET GROUP INC
+53,100
~$8.46 · 2025Q4
2026-02-17
ADD
ALIBABA GROUP HLDG LTD
+2,139,966
~$178.73 · 2025Q3
2025-11-14
