HHLR ADVISORS, LTD.

Superinvestor

HHLR Advisors (Hillhouse)

SEC CIK
0001762304
Manager
Zhang Lei
Style
Growth

Q2 2025 vs. Q1 2025

Positions are compared by share count, long positions only.

All holdings in Q2 2025All holdings in Q1 2025

HHLR ADVISORS, LTD.: Q1 2025 compared with Q2 2025
MeasureQ1 2025Q2 2025Change
Positions4936−13
Total value$3.54B$3.1B−$434.91M (−12.3%)

New positions (2)

Held at the end of Q2 2025 but not at the end of Q1 2025.

HHLR ADVISORS, LTD.: new positions in Q2 2025
SecurityClassShares, Q2 2025Value, Q2 2025% of portfolio, Q2 2025
BULLWEBULL CORPORD SHS33,080,846$395.65M12.74%
CLEARWATER ANALYTICS HLDGS I185123106CL A1,365,971$29.96M0.96%

Added (2)

More shares at the end of Q2 2025 than at the end of Q1 2025.

HHLR ADVISORS, LTD.: positions added to in Q2 2025
SecurityClassShares, Q1 2025Shares, Q2 2025Change in sharesValue, Q2 2025% of portfolio, Q2 2025
PDDPDD HOLDINGS INCSPONSORED ADS6,562,5766,976,804+414,228+6.3%$730.19M23.52%
FUTUFUTU HLDGS LTDSPON ADS CL A4,307,4924,312,237+4,745+0.1%$532.95M17.17%

Reduced (9)

Fewer shares at the end of Q2 2025 than at the end of Q1 2025.

HHLR ADVISORS, LTD.: positions reduced in Q2 2025
SecurityClassShares, Q1 2025Shares, Q2 2025Change in sharesValue, Q2 2025% of portfolio, Q2 2025
NTESNETEASE COM INCSPONSORED ADS2,668,6971,663,668−1,005,029−37.7%$223.9M7.21%
BEKEKE HLDGS INCSPONSORED ADS11,973,4027,465,465−4,507,937−37.6%$132.44M4.27%
BABAALIBABA GROUP HLDG LTD SPONSORED ADSADR3,907,7551,149,700−2,758,055−70.6%$130.39M4.20%
JDJD.COM INCSPON ADS CL A4,811,7002,275,500−2,536,200−52.7%$74.27M2.39%
YSGYATSEN HLDG LTDSPONSORED ADS6,885,8736,111,933−773,940−11.2%$58.92M1.90%
VIPSVIPSHOP HLDGS LTDSPONSORED ADS A6,683,9011,131,788−5,552,113−83.1%$17.03M0.55%
GEGE AEROSPACE COM NEWStock6,7576,305−452−6.7%$1.62M0.05%
MCOMOODYS CORP COMStock2,6372,476−161−6.1%$1.24M0.04%
MSCIMSCI INC COMStock2,1282,008−120−5.6%$1.16M0.04%

Sold out (15)

Held at the end of Q1 2025, gone by the end of Q2 2025.

HHLR ADVISORS, LTD.: positions sold out in Q2 2025
SecurityClassShares, Q1 2025Value, Q1 2025% of portfolio, Q1 2025
TCOMTRIP COM GROUP LTDADS938,842$59.69M1.69%
ENFUSION INC292812104CL A4,975,183$55.47M1.57%
BIDUBAIDU INC SPON ADR REP AADR170,000$15.65M0.44%
YUMCYUM CHINA HLDGS INCCOM292,122$15.21M0.43%
HTHTH WORLD GROUP LTDSPONSORED ADS237,332$8.78M0.25%
ATATATOUR LIFESTYLE HLDGS LTDSPONSORED ADS242,342$6.87M0.19%
TSMTAIWAN SEMICONDUCTOR MANUFACT SPONSORED ADSADR33,000$5.48M0.15%
SOHUSOHU COM LTDSPONSORED ADS201,432$2.65M0.07%
DHRDANAHER CORP DEL COMStock8,026$1.65M0.05%
JOYYJOYY INCADS REPSTG COM A34,000$1.43M0.04%
CYDCHINA YUCHAI INTL LTDCOM70,000$1.19M0.03%
WBWEIBO CORPSPONSORED ADR100,000$947K0.03%
XYFX FINLSPONSORED ADS50,000$719.5K0.02%
ECXECARX HOLDINGS INCCLASS A ORD400,000$504K0.01%
MGXMETAGENOMI THERAPEUTICS INCCOM150,699$204.95K0.01%