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 2024Q4 — net new, added, trimmed, exited.
New positions5 names
  • G98196WNS HLDGS LTD
    +1,531,466
    $72.6M
  • APIAGORA INC
    +2,098,553
    $8.7M
  • MSCIMSCI INC
    +3,650
    $2.2M
  • MOMOHELLO GROUP INC
    +53,590
    $413K
  • G9845FLAKESHORE BIOPHARMA CO LTD
    +75,179
    $259K
Added to10 names
  • BEKEKE HLDGS INC
    +392,588
    $7.2M
  • FUTUFUTU HLDGS LTD
    +67,214
    $5.4M
  • TSMTAIWAN SEMICONDUCTOR MFG LTD
    +23,193
    $4.6M
  • JDJD.COM INC
    +90,000
    $3.1M
  • MCOMOODYS CORP
    +2,975
    $1.4M
  • DHRDANAHER CORPORATION
    +3,975
    $912K
  • GEGENERAL ELECTRIC CO
    +4,615
    $770K
  • G8994ETRANE TECHNOLOGIES PLC
    +1,585
    $585K
  • D0ADADA NEXUS LTD
    +100,000
    $121K
  • GEVGE VERNOVA LLC
    +80
    $26K
Trimmed10 names
  • BABAALIBABA GROUP HLDG LTD
    −3,940,300
    $334.1M
  • ONCBEIGENE LTD
    −1,372,500
    $253.5M
  • PDDPINDUODUO INC
    −2,036,505
    $197.5M
  • TCOMTRIP COM GROUP LTD
    −860,590
    $59.1M
  • ZTOZTO EXPRESS CAYMAN INC
    −2,567,081
    $50.2M
  • LEGNLEGEND BIOTECH CORP
    −651,946
    $21.2M
  • VIPSVIPSHOP HOLDINGS LIMITED
    −840,320
    $11.3M
  • SOHUSOHU COM LTD
    −202,916
    $2.7M
  • NBPI MAB
    −928,652
    $789K
  • YSGYATSEN HLDG LTD
    −101,966
    $406K
Exited8 names
  • BIDUBAIDU INC
    −300,000
    $31.6M
  • YUMCYUM CHINA HLDGS INC
    −665,863
    $30.0M
  • HTHTHUAZHU GROUP LTD
    −568,613
    $21.2M
  • ZKNZEEKR INTELLIGENT TECHNOLOGY
    −145,000
    $3.2M
  • URAGLOBAL X FDS
    −100,000
    $2.9M
  • KWEBKRANESHARES TR
    −79,500
    $2.7M
  • METAMETA PLATFORMS INC
    −4,000
    $2.3M
  • G9845FYS BIOPHARMA CO LTD
    −751,790
    $513K

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