HHLR ADVISORS, LTD.HHLR ADVISORS, LTD.

Institutional investor · Portfolio as of Q1 2025

SEC EDGAR SourceSEC Filings

Top Holdings49 positions

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Activity:
Stock
Shares
Value
Weight
Avg Buy
Est. P&L
Held
Conviction
PDDPDD
ADR

PDD HOLDINGS INC

6.6M$776.7M21.9%$110.73+8.78%
12 qtrssince 2022-Q2
Increased
100
BABABABA
ADR

ALIBABA GROUP HOLDING-SP ADR

3.9M$516.7M14.6%$83.58+54.17%
12 qtrssince 2022-Q2
Decreased
0
FUTUFUTU
ADR

FUTU HLDGS LTD

4.3M$440.9M12.5%$95.14+8.91%
4 qtrssince 2024-Q2
Increased
99
ONCONC
ADR

BEIGENE LTD-ADR

1M$281.5M8.0%$134.02+99.51%
26 qtrssince 2018-Q4
Decreased
0
NTESNTES
ADR

NETEASE INC-ADR

2.7M$274.7M7.8%$90.38+9.91%
10 qtrssince 2022-Q4
Increased
63
BEKEBEKE
ADR

KE HOLDINGS INC-ADR

12M$240.5M6.8%$21.74-7.21%
19 qtrssince 2020-Q3
Increased
65
LEGNLEGN
ADR

Legend Biotech Corp. Sponsored ADR

6M$203.1M5.7%$50.33-30.34%
20 qtrssince 2020-Q2
Unchanged
0
JDJD
ADR

JD.COM INC-ADR

4.8M$197.9M5.6%$39.67+1.81%
26 qtrssince 2018-Q4
Increased
97
VIPSVIPS
ADR

VIPSHOP HLDGS LTD

6.7M$104.8M3.0%$12.69+22.41%
17 qtrssince 2021-Q1
Decreased
0
WNSWNSDelisted

WNS HLDGS LTD

1.5M$94.2M2.7%
2 qtrssince 2024-Q4
Unchanged
0

ARRIVENT BIOPHARMA INC

4.5M$82.9M2.3%$17.95+5.60%
5 qtrssince 2024-Q1
Unchanged
0
TCOMTCOM
ADR

TRIP.COM GROUP LTD-ADR

938,842$59.7M1.7%$50.24-10.47%
4 qtrssince 2024-Q2
Increased
49
ENFNENFNDelisted

ENFUSION INC

5M$55.5M1.6%
14 qtrssince 2021-Q4
Unchanged
0
YSYSG
ADR

YATSEN HLDG LTD

6.9M$33.1M0.9%$10.59-52.79%
18 qtrssince 2020-Q4
Unchanged
0

CYTEK BIOSCIENCES INC

6.7M$26.7M0.8%$20.96-80.92%
15 qtrssince 2021-Q3
Unchanged
0
BIDUBIDU
ADR

BAIDU INC - SPON ADR

170,000$15.6M0.4%$93.370.00%
1 qtr
New
48
LILI
ADR

LI AUTO INC

620,000$15.6M0.4%$25.520.00%
1 qtr
New
48

YUM CHINA HOLDINGS INC -W/I

292,122$15.2M0.4%$51.58-7.74%
1 qtr
New
48
ZTOZTO
ADR

ZTO EXPRESS CAYMAN INC

671,387$13.3M0.4%$22.17-12.37%
9 qtrssince 2023-Q1
Increased
48
BZBZ
ADR

KANZHUN LIMITED

576,339$11M0.3%$19.320.00%
1 qtr
New
47
$3.5B
AUM
49
Positions
Q1 2025
Filing
Rating · 2.0
Quarterly Portfolio Change
+11%Q4'23$5B-7%Q1'24$4.6B-12%Q2'24$4.1B+12%Q3'24$4.6B-37%Q4'24$2.9B+23%Q1'25$3.5B
Activity profile
$ moved · Q1'25
New4%Increased58%Decreased34%Exited3%
Composition
Equity vs derivatives
Equity100%Puts0%Calls0%
Holding period
Avg 3.2 years
<1Q10%1-4Q10%1-2Y14%2Y+65%

HHLR ADVISORS, LTD. manages $3.5B across 49 positions as of Q1 2025. Top holdings: PDD (21.9%), BABA (14.6%), FUTU (12.5%). Fund DNA: Balanced Allocator. HoldingsIntel Rating: 2/5.0.

Q1 2025 Summary

Active quarter - 11 new positions, 7 exits, 8 increased. Top move: PDD (INCREASED, conviction 100). Portfolio: $3.5B across 49 positions.

Top holdings by portfolio weight

Total AUM$4B
PDD21.94%
BABA14.60%
FUTU12.46%
ONC7.95%
NTES7.76%
BEKE6.80%
LEGN5.74%
JD5.59%
VIPS2.96%
WNS2.66%
Other2.34%

Portfolio allocation by GICS sector

Sectors9
Consumer Cyclical48.32%
Healthcare17.52%
Financial Services12.55%
Communication Services8.66%
Real Estate6.80%
Unknown4.27%
Consumer Defensive0.94%
Technology0.53%
Industrials0.41%

Behavioral investing profile

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Balanced Allocator- primarily Consumer Cyclical, Healthcare, Financial Services
Compare DNA across all funds
7-dimension quality assessment
Below Average(2.0 / 5.0)
Track Record35
Conviction42
Concentration100
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Position Outcomes

Best and worst performing positions by estimated return

Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.

Similar Funds

Funds with similar investing DNA

Accumulation Streaks

Positions with 2+ consecutive quarters of increases - persistent directional conviction.

No active accumulation streaks detected for this filer.

Streaks require 2+ consecutive quarters of increased positions in the most recent period.

Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer

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