HHLR ADVISORS, LTD.HHLR ADVISORS, LTD.

Institutional investor · Portfolio as of Q3 2025

SEC EDGAR SourceSEC Filings

Top Holdings33 positions

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

PDD HOLDINGS INC

8.6M$1.1B27.8%$114.21+14.41%
14 qtrssince 2022-Q2
Increased
76
BABABABA
ADR

ALIBABA GROUP HOLDING-SP ADR

3.3M$588M14.4%$144.42+22.63%
14 qtrssince 2022-Q2
Increased
100
FUTUFUTU
ADR

FUTU HLDGS LTD

3.2M$563.2M13.8%$95.17+82.47%
6 qtrssince 2024-Q2
Decreased
0

WEBULL CORP

33.1M$489.3M12.0%$10.83+43.58%
2 qtrssince 2025-Q2
Unchanged
0
ONCONC
ADR

BEIGENE LTD-ADR

1M$352.4M8.6%$134.02+148.34%
28 qtrssince 2018-Q4
Unchanged
0
BIDUBIDU
ADR

BAIDU INC - SPON ADR

1.6M$216.2M5.3%$134.86-22.79%
1 qtr
New
96
LEGNLEGN
ADR

Legend Biotech Corp. Sponsored ADR

6M$195.2M4.8%$50.33-34.73%
22 qtrssince 2020-Q2
Unchanged
0
NTESNTES
ADR

NETEASE INC-ADR

790,807$120.2M2.9%$90.38+66.79%
12 qtrssince 2022-Q4
Decreased
0

ARRIVENT BIOPHARMA INC

4.5M$82.7M2.0%$17.95+1.20%
7 qtrssince 2024-Q1
Unchanged
0
BEKEBEKE
ADR

KE HOLDINGS INC-ADR

4.2M$80.5M2.0%$21.74-7.03%
21 qtrssince 2020-Q3
Decreased
0
YMMYMM
ADR

FULL TRUCK ALLIANCE CO LTD

4.1M$52.7M1.3%$13.08-32.42%
1 qtr
New
68
YSYSG
ADR

YATSEN HLDG LTD

4.9M$44.3M1.1%$10.59-12.10%
20 qtrssince 2020-Q4
Decreased
0
SESE
ADR

SEA LTD-ADR

180,050$32.2M0.8%$181.45-34.17%
1 qtr
New
57
CWANCWANDelisted

CLEARWATER ANALYTICS HDS-A

1.4M$24.6M0.6%$22.00-17.27%
2 qtrssince 2025-Q2
Unchanged
0

CYTEK BIOSCIENCES INC

6.7M$23.1M0.6%$20.96-83.87%
17 qtrssince 2021-Q3
Unchanged
0
NBPNBP
ADR

NOVABRIDGE BIOSCIENCES

6M$22.6M0.6%$47.24-92.76%
21 qtrssince 2020-Q3
Unchanged
0

GOSSAMER BIO INC

5M$13.1M0.3%$16.82-83.24%
27 qtrssince 2019-Q1
Unchanged
0

MAZE THERAPEUTICS INC

457,535$11.9M0.3%$11.42+120.67%
3 qtrssince 2025-Q1
Unchanged
0
APIAPI
ADR

AGORA INC

2.1M$8M0.2%$4.20-9.52%
4 qtrssince 2024-Q4
Unchanged
0

CONTINEUM THERAPEUTICS INC

669,337$7.9M0.2%$17.61-32.88%
6 qtrssince 2024-Q2
Unchanged
0
$4.1B
AUM
33
Positions
Q3 2025
Filing
Rating · 2.0
Quarterly Portfolio Change
-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+32%Q3'25$4.1B
Activity profile
$ moved · Q3'25
New19%Increased54%Decreased13%Exited14%
Composition
Equity vs derivatives
Equity100%Puts0%Calls0%
Holding period
Avg 3.8 years
<1Q6%1-4Q9%1-2Y15%2Y+70%

HHLR ADVISORS, LTD. manages $4.1B across 33 positions as of Q3 2025. Top holdings: PDD (27.8%), BABA (14.4%), FUTU (13.8%). Fund DNA: Balanced Allocator. HoldingsIntel Rating: 2/5.0.

Q3 2025 Summary

Active quarter - 5 new positions, 8 exits, 4 increased. Top move: BABA (INCREASED, conviction 100). Portfolio: $4.1B across 33 positions.

Top holdings by portfolio weight

Total AUM$4B
PDD27.76%
BABA14.37%
FUTU13.77%
BULL11.96%
ONC8.61%
BIDU5.29%
LEGN4.77%
NTES2.94%
AVBP2.02%
BEKE1.97%
Other1.29%

Portfolio allocation by GICS sector

Sectors10
Consumer Cyclical43.12%
Healthcare17.50%
Technology14.14%
Financial Services13.80%
Communication Services8.22%
Real Estate1.97%
Consumer Defensive1.08%
Industrials0.07%
Unknown0.05%
Basic Materials0.04%

Behavioral investing profile

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Balanced Allocator- primarily Consumer Cyclical, Healthcare, Technology
Compare DNA across all funds
7-dimension quality assessment
Below Average(2.0 / 5.0)
Track RecordNo data
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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