Smart Money · Value investors
Zhang Lei
Hillhouse (HHLR Advisors)
01
13F holdings
HHLR ADVISORS, LTD. · period 2026-06-30 (filed 2026-08-14)
13F portfolio value$832M35 positions
Top-10 weight85.7%Concentration
New / added6 / 6vs 2026-03-31
Trimmed / sold out6 / 9vs 2026-03-31
Top 30 positions
| Ticker | Name | Value | Weight | Change | Share change |
|---|---|---|---|---|---|
| LEGN | LEGEND BIOTECH CORP | $173M | 20.8% | Held | – |
| FUTU | FUTU HLDGS LTD | $166M | 19.9% | Added | +24.6% |
| AVBP | ARRIVENT BIOPHARMA INC | $136M | 16.4% | Held | – |
| MRVL | MARVELL TECHNOLOGY INC | $49M | 5.8% | Trimmed | -4.7% |
| VIPS | VIPSHOP HLDGS LTD | $46M | 5.5% | Added | +2683.0% |
| PDD | PDD HOLDINGS INC | $38M | 4.6% | Trimmed | -88.0% |
| BEKE | KE HLDGS INC | $32M | 3.9% | Trimmed | -47.6% |
| CTKB | CYTEK BIOSCIENCES INC | $29M | 3.5% | Held | – |
| ALMR | ALAMAR BIOSCIENCES INC | $26M | 3.1% | New | – |
| BABA | ALIBABA GROUP HLDG LTD | $18M | 2.1% | Trimmed | -92.5% |
| ODTX | ODYSSEY THERAPEUTICS INC | $16M | 1.9% | New | – |
| YSG | YATSEN HLDG LTD | $15M | 1.9% | Held | – |
| NBP | NOVABRIDGE BIOSCIENCES | $12M | 1.4% | Held | – |
| CTNM | CONTINEUM THERAPEUTICS INC | $11M | 1.3% | Held | – |
| MAZE | MAZE THERAPEUTICS INC | $11M | 1.3% | Held | – |
| API | AGORA INC | $8M | 1.0% | Held | – |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | $7M | 0.9% | Held | – |
| SGMT | SAGIMET BIOSCIENCES INC | $6M | 0.7% | Held | – |
| NTES | NETEASE COM INC | $4M | 0.5% | New | – |
| GE | GE AEROSPACE | $4M | 0.5% | Held | – |
| LITE | LUMENTUM HLDGS INC | $3M | 0.3% | Added | +120.0% |
| NVDA | NVIDIA CORPORATION | $3M | 0.3% | Added | +112.6% |
| TUYA | TUYA INC | $3M | 0.3% | Held | – |
| GLW | CORNING INC | $3M | 0.3% | Added | +33.3% |
| COHR | COHERENT CORP | $3M | 0.3% | Added | +50.1% |
| BULL | WEBULL CORP | $2M | 0.2% | Trimmed | -79.3% |
| INTC | INTEL CORP | $2M | 0.2% | Trimmed | -50.6% |
| PACB | PACIFIC BIOSCIENCES CALIF IN | $2M | 0.2% | Held | – |
| TXN | TEXAS INSTRS INC | $1M | 0.2% | New | – |
| MOGU | MOGU INC | $1M | 0.2% | Held | – |
New this quarter (by value)
Sold out this quarter (by prior value)
| Ticker | Name | Prior value | Weight | Change | Share change |
|---|---|---|---|---|---|
| ONC | BEONE MEDICINES LTD | $307M | 0.0% | Sold out | – |
| CWAN | CLEARWATER ANALYTICS HLDGS I | $32M | 0.0% | Sold out | – |
| B | BARRICK MNG CORP | $1M | 0.0% | Sold out | – |
| DDL | DINGDONG CAYMAN LTD | $911,065 | 0.0% | Sold out | – |
| AXIAY | CENTRAIS ELET BRAS SA | $711,768 | 0.0% | Sold out | – |
| EWW | ISHARES INC | $662,024 | 0.0% | Sold out | – |
| VNET | VNET GROUP INC | $546,189 | 0.0% | Sold out | – |
| UXIN | UXIN LTD | $58,809 | 0.0% | Sold out | – |
| RDGT | RIDGETECH INC | $657 | 0.0% | Sold out | – |
13F covers US long positions only (options at notional value). No shorts, cash or foreign assets; filed within 45 days of quarter end.
Original filings: 13F-HR（2026-08-14）