HHLR ADVISORS, LTD.HHLR ADVISORS, LTD.

Institutional investor · Portfolio as of Q2 2025

Top Holdings36 positions

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Activity:
PDDPDD
ADR

Pinduoduo Inc

7M$730.2M23.5%$109.10-4.07%
13 qtrssince 2022-Q2
Increased
66
FUTUFUTU
ADR

Futu Holdings Ltd

4.3M$532.9M17.2%$93.48+30.12%
5 qtrssince 2024-Q2
Increased
62

WEBULL CORP ORD SHS

33.1M$395.6M12.7%$10.830.00%
1 qtr
New
97
ONCONC
ADR

BEIGENE LTD

1M$250.4M8.1%$136.90+76.83%
27 qtrssince 2018-Q4
Unchanged
0
NTESNTES
ADR

NetEase Inc

1.7M$223.9M7.2%$88.64+47.62%
11 qtrssince 2022-Q4
Decreased
0
LEGNLEGN
ADR

LEGEND BIOTECH CORP

6M$212.4M6.8%$50.33-31.19%
21 qtrssince 2020-Q2
Unchanged
0
BEKEBEKE
ADR

KE HLDGS INC

7.5M$132.4M4.3%$20.87-16.53%
20 qtrssince 2020-Q3
Decreased
0
BABABABA
ADR

Alibaba Group Holding Ltd

1.1M$130.4M4.2%$83.58+34.46%
13 qtrssince 2022-Q2
Decreased
0

ARRIVENT BIOPHARMA INC

4.5M$97.6M3.1%$17.95+27.66%
6 qtrssince 2024-Q1
Unchanged
0
WNSWNSDelisted

WNS HLDGS LTD

1.5M$96.8M3.1%——
3 qtrssince 2024-Q4
Unchanged
0
JDJD
ADR

JD.com Inc

2.3M$74.3M2.4%$39.67-31.71%
27 qtrssince 2018-Q4
Decreased
0
YSYSG
ADR

YATSEN HLDG LTD

6.1M$58.9M1.9%$10.59-2.18%
19 qtrssince 2020-Q4
Decreased
0
CWANCWANDelisted

CLEARWATER ANALYTICS HLDGS I

1.4M$30M1.0%$22.000.00%
1 qtr
New
57

CYTEK BIOSCIENCES INC

6.7M$22.6M0.7%$21.41-84.12%
16 qtrssince 2021-Q3
Unchanged
0
VIPSVIPS
ADR

Vipshop Holdings Ltd

1.1M$17M0.5%$12.19+18.55%
18 qtrssince 2021-Q1
Decreased
0
LILI
ADR

LI AUTO INC

620,000$16.8M0.5%$25.52-54.78%
2 qtrssince 2025-Q1
Unchanged
0
NBPNBP
ADR

I MAB

6M$14.5M0.5%$47.24-94.56%
20 qtrssince 2020-Q3
Unchanged
0
ZTOZTO
ADR

ZTO Express Cayman Inc

671,387$11.9M0.4%$22.17-9.12%
10 qtrssince 2023-Q1
Unchanged
0
BZBZ
ADR

KANZHUN LIMITED

576,339$10.3M0.3%$18.35-14.27%
2 qtrssince 2025-Q1
Unchanged
0
APIAPI
ADR

Agora Inc

2.1M$8M0.3%$4.20-10.00%
3 qtrssince 2024-Q4
Unchanged
0
$3.1B
AUM
36
Positions
Q2 2025
Filing
HI score · 2.5/5
Quarterly 13F Value Change
-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-12%Q2'25$3.1B
Activity profile
$ moved · Q2'25
New28%Increased9%Decreased51%Exited12%
Composition
Equity vs derivatives
Equity100%Puts0%Calls0%
Holding period
Avg 3.2 years
<1Q6%1-4Q14%1-2Y22%2Y+58%

HHLR ADVISORS, LTD. manages $3.1B across 36 positions as of Q2 2025. Top holdings: PDD (23.5%), FUTU (17.2%), BULL (12.7%). Fund DNA: Balanced Allocator. HoldingsIntel Score: 2.5/5.0.

Q2 2025 Summary

Active quarter - 2 new positions, 15 exits, 2 increased. Top move: BULL (NEW, conviction 97). Portfolio: $3.1B across 36 positions.

Top holdings by portfolio weight

Total AUM$3B
PDD23.52%
FUTU17.17%
BULL12.74%
ONC8.06%
NTES7.21%
LEGN6.84%
BEKE4.27%
BABA4.20%
AVBP3.14%
WNS3.12%
Other2.39%

Portfolio allocation by GICS sector

Sectors9
Consumer Cyclical31.41%
Healthcare19.94%
Financial Services17.24%
Technology14.08%
Communication Services7.54%
Real Estate4.27%
Unknown3.18%
Consumer Defensive1.90%
Industrials0.44%

Behavioral investing profile

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Balanced Allocator- primarily Consumer Cyclical, Healthcare, Financial Services
Compare DNA across all funds
7-dimension, SEC 13F-derived research score
Solid(2.5 / 5.0)
Holdings P&L26
Conviction41
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

Verify source filings on SEC EDGAR

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