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Livermore
Livermore
ZHEN

HHLR Advisors (Hillhouse)

Superinvestor

HHLR Advisors, Ltd.

SEC CIK
0001762304
Manager
Zhang Lei
Style
Growth
Latest filing
Aug 14, 2026

Holdings in Q3 2025

Holdings as of Sep 30, 2025, filed Nov 14, 2025. Long positions only; changes compare share counts with Q2 2025.

Institution overview
Positions
33
−3 vs. Q2 2025
Portfolio value
$4.09B
+$986.2M (+31.8%) vs. Q2 2025
Filed
Nov 14, 2025
SEC
Holdings of HHLR Advisors (Hillhouse) in Q3 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
PDDPDD Holdings Inc.SPONSORED ADS8,592,600$1.14B27.8%+1,615,796+23.2%AddedHistory
BABAAlibaba Group Holding LtdADR3,289,666$588.0M14.4%+2,139,966+186.1%AddedHistory
FUTUFutu Holdings LtdSPON ADS CL A3,238,179$563.2M13.8%−1,074,058−24.9%ReducedHistory
BULLWebull CorpORD SHS33,080,846$489.3M12.0%00.0%UnchangedHistory
ONCBeOne Medicines Ltd.ADR1,034,306$352.4M8.6%00.0%UnchangedHistory
BIDUBaidu, Inc.ADR1,641,000$216.2M5.3%+1,641,000NewHistory
LEGNLegend Biotech CorpSPONSORED ADS5,984,550$195.2M4.8%00.0%UnchangedHistory
NTESNetEase, Inc.SPONSORED ADS790,807$120.2M2.9%−872,861−52.5%ReducedHistory
AVBPArriVent BioPharma, Inc.COM4,484,672$82.7M2.0%00.0%UnchangedHistory
BEKEKE Holdings Inc.SPONSORED ADS4,236,278$80.5M2.0%−3,229,187−43.3%ReducedHistory
YMMFull Truck Alliance Co. Ltd.SPONSORED ADS4,066,553$52.7M1.3%+4,066,553NewHistory
YSGYatsen Holding LtdSPONSORED ADS4,885,873$44.3M1.1%−1,226,060−20.1%ReducedHistory
SESea LtdSPONSORD ADS180,050$32.2M0.8%+180,050NewHistory
CWANClearwater Analytics Holdings, Inc.CL A1,365,971$24.6M0.6%00.0%UnchangedHistory
CTKBCytek Biosciences, Inc.COM6,657,030$23.1M0.6%00.0%UnchangedHistory
NBPNovaBridge BiosciencesSPONSORED ADS5,980,568$22.6M0.6%00.0%UnchangedHistory
GOSSGossamer Bio, Inc.COM4,974,041$13.1M0.3%00.0%UnchangedHistory
MAZEMaze Therapeutics, Inc.COM457,535$11.9M0.3%00.0%UnchangedHistory
APIAgora, Inc.ADS2,098,553$8.02M0.2%00.0%UnchangedHistory
CTNMContineum Therapeutics, Inc.CL A669,337$7.86M0.2%00.0%UnchangedHistory
Smart SH Global Ltd ADS83193E102ADR3,949,700$5.33M0.1%00.0%Unchanged–
SGMTSagimet Biosciences Inc.COM SER A724,800$4.97M0.1%00.0%UnchangedHistory
TUYATuya Inc.SPONSERED ADS1,564,400$3.86M0.1%00.0%UnchangedHistory
GEGeneral Electric CoStock10,043$3.02M0.1%+3,738+59.3%AddedHistory
MOGUMOGU Inc.SPON ADS847,510$2.91M0.1%00.0%UnchangedHistory
Bright Scholar Ed Hldgs Ltd109199208SPON ADS NEW988,143$1.93M<0.1%00.0%Unchanged–
MCOMoodys CorpStock2,888$1.38M<0.1%+412+16.6%AddedHistory
PACBPacific Biosciences of California, Inc.COM918,892$1.18M<0.1%00.0%UnchangedHistory
EQXEquinox Gold Corp.COM80,500$902.8K<0.1%+80,500NewHistory
BBarrick Mining CorpStock25,400$832.4K<0.1%+25,400NewHistory
ALGSAligos Therapeutics, Inc.COM NEW76,247$747.2K<0.1%00.0%UnchangedHistory
UXINUxin LtdSPONSORED ADS19,156$66.3K<0.1%00.0%UnchangedHistory
RDGTRidgetech Inc.SHS NEW20,167$24.6K<0.1%00.0%UnchangedHistory

Sold out since Q2 2025 (8)

Positions held at the end of Q2 2025 that are gone from this filing.

Positions of HHLR Advisors (Hillhouse) sold out since Q2 2025
SecurityClassShares in Q2 2025Value in Q2 2025% of portfolio in Q2 2025History
WNSWNS (Holdings) LtdCOM SHS1,531,466$96.8M3.1%History
JDJD.com, Inc.SPON ADS CL A2,275,500$74.3M2.4%History
VIPSVipshop Holdings LtdSPONSORED ADS A1,131,788$17.0M0.5%History
LILi Auto Inc.SPONSORED ADS620,000$16.8M0.5%History
ZTOZTO Express (Cayman) Inc.SPONSORED ADS A671,387$11.9M0.4%History
BZKanzhun LtdSPONSORED ADS576,339$10.3M0.3%History
MSCIMSCI Inc.Stock2,008$1.16M<0.1%History
Lakeshore Biopharma Co LtdG9845F208ORD SHS NEW75,179$76.7K<0.1%–