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%Since filing+68.8%Full performance →

Quarter

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

Holdings

Sorted by value · 2025Q4

Sector33 positions

PDDPINDUODUO INCADR

Consumer Cyclical·Internet Retail

39.17%

of portfolio

Number of shares

10,721,400 sh

Holdings current value

$1.22B

Avg closing price

$113.34

-7.5%

Last action

Added 24.8%

2025Q4

Current $104.79

BABAALIBABA GROUP HLDG LTDADR

Consumer Cyclical·Internet Retail

25.65%

of portfolio

Number of shares

5,430,346 sh

Holdings current value

$795.98M

Avg closing price

$146.46

-3.7%

Last action

Added 65.1%

2025Q4

Current $141.01

ONCBEIGENE LTDADR

Healthcare·Biotechnology

10.12%

of portfolio

Number of shares

1,034,306 sh

Holdings current value

$314.23M

Avg closing price

$136.90

+136.6%

Last action

Trimmed 72.8%

2025Q1

Current $323.87

FUTUFUTU HLDGS LTDADR

Financial Services·Capital Markets

8.63%

of portfolio

Number of shares

1,630,249 sh

Holdings current value

$267.70M

Avg closing price

$94.94

+75.8%

Last action

Trimmed 49.7%

2025Q4

Current $166.93

LEGNLEGEND BIOTECH CORPADR

Healthcare·Biotechnology

4.19%

of portfolio

Number of shares

5,984,550 sh

Holdings current value

$130.10M

Avg closing price

$51.94

-59.2%

Last action

Trimmed 9.8%

2024Q4

Current $21.17

AVBPARRIVENT BIOPHARMA INC

Healthcare·Biotechnology

2.55%

of portfolio

Number of shares

3,929,117 sh

Holdings current value

$79.05M

Avg closing price

$17.95

+65.2%

Last action

Trimmed 12.4%

2025Q4

Current $29.64

BEKEKE HLDGS INCADR

Real Estate·Real Estate Services

2.15%

of portfolio

Number of shares

4,236,278 sh

Holdings current value

$66.76M

Avg closing price

$22.42

-27.6%

Last action

Trimmed 43.3%

2025Q3

Current $16.24

G9572D103WEBULL CORP

1.50%

of portfolio

Number of shares

5,974,604 sh

Holdings current value

$46.42M

Avg closing price

$11.96

Last action

Trimmed 81.9%

2025Q4

Current —

CTKBCYTEK BIOSCIENCES INC

Healthcare·Medical Devices

1.08%

of portfolio

Number of shares

6,657,030 sh

Holdings current value

$33.62M

Avg closing price

$21.41

-78.5%

Last action

Trimmed 13.6%

2023Q2

Current $4.61

CWANCLEARWATER ANALYTICS HLDGS I

Technology·Software - Application

1.06%

of portfolio

Number of shares

1,365,971 sh

Holdings current value

$32.95M

Avg closing price

$21.93

+9.9%

Last action

New holding

2025Q2

Current $24.11

NBPI MABADR

Healthcare·Biotechnology

0.77%

of portfolio

Number of shares

5,980,568 sh

Holdings current value

$23.80M

Avg closing price

$50.06

-94.6%

Last action

Trimmed 13.4%

2024Q4

Current $2.70

YSGYATSEN HLDG LTDADR

Consumer Defensive·Household & Personal Products

0.61%

of portfolio

Number of shares

4,885,873 sh

Holdings current value

$19.01M

Avg closing price

$2.11

+55.9%

Last action

Trimmed 20.1%

2025Q3

Current $3.29

MAZEMAZE THERAPEUTICS INC

Healthcare·Biotechnology

0.61%

of portfolio

Number of shares

457,535 sh

Holdings current value

$18.96M

Avg closing price

$11.01

+155.1%

Last action

New holding

2025Q1

Current $28.09

GOSSGOSSAMER BIO INC

Healthcare·Biotechnology

0.50%

of portfolio

Number of shares

4,974,041 sh

Holdings current value

$15.42M

Avg closing price

$16.64

-97.3%

Last action

Trimmed 33.0%

2022Q4

Current $0.45

APIAGORA INCADR

0.28%

of portfolio

Number of shares

2,098,553 sh

Holdings current value

$8.54M

Avg closing price

$4.73

-15.5%

Last action

New holding

2024Q4

Current $4.00

CTNMCONTINEUM THERAPEUTICS INC

Healthcare·Biotechnology

0.25%

of portfolio

Number of shares

669,337 sh

Holdings current value

$7.65M

Avg closing price

$17.61

-23.2%

Last action

New holding

2024Q2

Current $13.53

SGMTSAGIMET BIOSCIENCES INC

Healthcare·Biotechnology

0.14%

of portfolio

Number of shares

724,800 sh

Holdings current value

$4.29M

Avg closing price

$8.80

-26.5%

Last action

Trimmed 50.0%

2024Q1

Current $6.47

TSMTAIWAN SEMICONDUCTOR MFG LTDADR

Technology·Semiconductors

0.11%

of portfolio

Number of shares

11,300 sh

Holdings current value

$3.43M

Avg closing price

$147.43

+151.3%

Last action

New holding

2025Q4

Current $370.50

TUYATUYA INCADR

Technology·Software - Infrastructure

0.11%

of portfolio

Number of shares

1,564,400 sh

Holdings current value

$3.30M

Avg closing price

$21.14

-88.2%

Last action

Trimmed 2.2%

2024Q1

Current $2.49

GEGENERAL ELECTRIC CO

Industrials·Aerospace & Defense

0.10%

of portfolio

Number of shares

10,043 sh

Holdings current value

$3.09M

Avg closing price

$219.71

+38.4%

Last action

Added 59.3%

2025Q3

Current $304.13

GOOGLALPHABET INC

Communication Services·Internet Content & Information

0.07%

of portfolio

Number of shares

7,300 sh

Holdings current value

$2.28M

Avg closing price

$287.74

+18.7%

Last action

New holding

2025Q4

Current $341.68

MOGUMOGU INCADR

0.06%

of portfolio

Number of shares

847,510 sh

Holdings current value

$1.81M

Avg closing price

$3.52

-29.0%

Last action

Trimmed 2.6%

2023Q1

Current $2.50

IBITISHARES BITCOIN TRETF

0.06%

of portfolio

Number of shares

35,300 sh

Holdings current value

$1.75M

Avg closing price

$49.65

-11.5%

Last action

New holding

2025Q4

Current $43.94

PACBPACIFIC BIOSCIENCES CALIF IN

Healthcare·Medical Devices

0.06%

of portfolio

Number of shares

918,892 sh

Holdings current value

$1.72M

Avg closing price

$25.40

-93.3%

Last action

New holding

2023Q3

Current $1.69

MCOMOODYS CORP

Financial Services·Financial Data & Stock Exchanges

0.05%

of portfolio

Number of shares

2,888 sh

Holdings current value

$1.48M

Avg closing price

$449.99

+1.2%

Last action

Added 16.6%

2025Q3

Current $455.35

EQXEQUINOX GOLD CORP

Basic Materials·Gold

0.04%

of portfolio

Number of shares

80,500 sh

Holdings current value

$1.13M

Avg closing price

$11.22

+39.2%

Last action

New holding

2025Q3

Current $15.61

BBARRICK MNG CORP

Basic Materials·Gold

0.04%

of portfolio

Number of shares

25,400 sh

Holdings current value

$1.11M

Avg closing price

$32.77

+32.1%

Last action

New holding

2025Q3

Current $43.30

AXIACENTRAIS ELETRICAS BRASILEIRADR

Utilities·Utilities - Renewable

0.03%

of portfolio

Number of shares

96,600 sh

Holdings current value

$884.9K

Avg closing price

$9.16

+39.8%

Last action

New holding

2025Q4

Current $12.81

ALGSALIGOS THERAPEUTICS INC

0.02%

of portfolio

Number of shares

76,247 sh

Holdings current value

$710.6K

Avg closing price

$8.66

-22.9%

Last action

New holding

2024Q3

Current $6.68

VNETVNET GROUP INCADR

Technology·Information Technology Services

0.01%

of portfolio

Number of shares

53,100 sh

Holdings current value

$449.2K

Avg closing price

$8.46

+11.0%

Last action

New holding

2025Q4

Current $9.39

AXIA/PCCENTRAIS ELET BRAS SAADR

0.01%

of portfolio

Number of shares

25,390 sh

Holdings current value

$218.9K

Avg closing price

$8.62

Last action

New holding

2025Q4

Current —

UXINUXIN LTDADR

0.00%

of portfolio

Number of shares

19,156 sh

Holdings current value

$64.6K

Avg closing price

$2.12

+39.6%

Last action

New holding

2024Q1

Current $2.96

G2124G120RIDGETECH INC

0.00%

of portfolio

Number of shares

20,167 sh

Holdings current value

$57.5K

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 Cyclical2 pos$2.01B66.1%
Healthcare10 pos$628.8M20.7%
Financial Services2 pos$269.2M8.8%
Real Estate1 pos$66.8M2.2%
Technology4 pos$40.1M1.3%
Consumer Defensive1 pos$19.0M0.6%
Industrials1 pos$3.1M0.1%
Communication Services1 pos$2.3M0.1%
Basic Materials2 pos$2.2M0.1%
Utilities1 pos$885K0.0%

(1.9% unclassified, excluded from %)