Hedge Fund · CIK 0001762304

Hillhouse

HHLR Advisors
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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 filingsView holdings
Portfolio
$3.10B
Positions
33
Quarter
2025Q4
Filings tracked
29
1Y+48.9%3Y+120.7%5Y+66.0%Full performance →
Quarter
2025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q1
Capital flow per quarter
BuysSellsNet
+$1.63B+$817M$0-$817M-$1.63B'22Q1'22Q2'22Q3'22Q4'23Q1'23Q2'23Q3'23Q4'24Q1'24Q2'24Q3'24Q4'25Q1'25Q2'25Q3'25Q4
Latest · 2025Q4
-$350M
Lifetime buys
$10.99B
Lifetime sells
$13.47B

Quarter activity

What changed in 2023Q4 — net new, added, trimmed, exited.
New positions1 name
  • MCOMOODYS CORP
    +155,846
    $60.9M
Added to4 names
  • PDDPINDUODUO INC
    +2,760,100
    $403.8M
  • DHRDANAHER CORPORATION
    +385,600
    $89.2M
  • JDJD.COM INC
    +941,300
    $27.2M
  • AMZNAMAZON COM INC
    +9,900
    $1.5M
Trimmed15 names
  • DASHDOORDASH INC
    −1,634,000
    $161.6M
  • BABAALIBABA GROUP HLDG LTD
    −809,829
    $62.8M
  • BBIOBRIDGEBIO PHARMA INC
    −1,391,510
    $56.2M
  • HTHTHUAZHU GROUP LTD
    −1,497,163
    $50.1M
  • CRMSALESFORCE COM INC
    −161,100
    $42.4M
  • LEGNLEGEND BIOTECH CORP
    −451,983
    $27.2M
  • MSFTMICROSOFT CORP
    −72,300
    $27.2M
  • BEKEKE HLDGS INC
    −1,440,877
    $23.4M
  • 75525NRAYZEBIO INC
    −333,333
    $20.7M
  • DDOGDATADOG INC
    −133,000
    $16.1M
  • ZTOZTO EXPRESS CAYMAN INC
    −536,402
    $11.4M
  • YMMFULL TRUCK ALLIANCE CO LTD
    −1,281,390
    $9.0M
  • + 3 more…
Exited12 names
  • DQDAQO NEW ENERGY CORP
    −2,037,000
    $61.7M
  • G76279ROIVANT SCIENCES LTD
    −2,448,579
    $28.6M
  • TMOTHERMO FISHER SCIENTIFIC INC
    −31,952
    $16.2M
  • AKROAKERO THERAPEUTICS INC
    −273,002
    $13.8M
  • EXKEXACT SCIENCES CORP
    −197,894
    $13.5M
  • G5269CKINIKSA PHARMACEUTICALS LTD
    −698,741
    $12.1M
  • BMRNBIOMARIN PHARMACEUTICAL INC
    −114,042
    $10.1M
  • ARGXARGENX SE
    −16,765
    $8.2M
  • TSLATESLA INC
    −30,000
    $7.5M
  • AXSMAXSOME THERAPEUTICS INC
    −100,000
    $7.0M
  • 02290AAMBRX BIOPHARMA INC
    −31,735
    $365K
  • SRZNWSURROZEN INC
    −384,573
    $16K

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