Hillhouse
Hillhouse's HHLR Advisors holds 37 U.S.-equity positions worth $1.7B (SEC 13F, Q1 2026). Top positions: Pdd Holdings Inc 25.4%, Alibaba Group Hldg Ltd 18.4%, Beone Medicines Ltd 18.4%. 13F-replication return is +7% over 3 years (-72 pts vs the S&P 500) — a replicated, non-audited figure.
Holdings
| Stock | % of portfolio | Shares | Value | Latest activity | Avg buy price | Current price | Date |
|---|---|---|---|---|---|---|---|
| PDD Pdd Holdings Inc | 25.4% | 4.2M | $426M | ▼ 61% (−6.6M) | $113.77 | $78.18 (−31%) | 2026-03-31 |
| BABA Alibaba Group Hldg Ltd | 18.4% | 2.5M | $308M | ▼ 55% (−3.0M) | $146.39 | $108.85 (−26%) | 2026-03-31 |
| ONC Beone Medicines Ltd | 18.4% | 1.0M | $307M | — | $272.17 | $367.98 (+35%) | 2026-03-31 |
| FUTU Futu Hldgs Ltd | 11.6% | 1.4M | $194M | ▼ 13% (−211K) | $95.15 | $110.20 (+16%) | 2026-03-31 |
| LEGN Legend Biotech Corp | 6.5% | 6.0M | $108M | — | $51.64 | $19.61 (−62%) | 2026-03-31 |
| AVBP ArriVent BioPharma, Inc. Common Stock | 5.4% | 3.9M | $91M | — | $17.95 | $30.18 (+68%) | 2026-03-31 |
| BEKE Ke Hldgs Inc | 3.8% | 4.2M | $63M | — | $18.44 | $16.77 (−9%) | 2026-03-31 |
| CWAN Clearwater Analytics Holdings, Inc. | 1.9% | 1.4M | $32M | — | $21.93 | — (+8%) | 2026-03-31 |
| CTKB Cytek Biosciences, Inc. Common Stock | 1.7% | 6.7M | $29M | — | $9.19 | $5.89 (−36%) | 2026-03-31 |
| MRVL Marvell Technology, Inc. Common Stock | 1.0% | 171K | $17M | NEW (+171K) | $89.25 | $262.81 (+194%) | 2026-03-31 |
| YSG Yatsen Hldg Ltd | 0.9% | 4.9M | $15M | — | $2.11 | $2.80 (+33%) | 2026-03-31 |
| NBP Novabridge Biosciences | 0.9% | 6.0M | $15M | — | $3.98 | $1.38 (−65%) | 2026-03-31 |
| MAZE Maze Therapeutics, Inc. Common Stock | 0.7% | 366K | $11M | ▼ 20% (−92K) | $11.01 | $27.22 (+147%) | 2026-03-31 |
| CTNM Contineum Therapeutics, Inc. Class A Common Stock | 0.5% | 669K | $9M | — | $17.61 | $13.32 (−24%) | 2026-03-31 |
| API Agora Inc | 0.4% | 2.1M | $7M | — | $4.16 | $4.13 (−1%) | 2026-03-31 |
| BULL Webull Corporation Class A Ordinary Shares | 0.4% | 1.5M | $7M | ▼ 75% (−4.5M) | $11.96 | $6.97 (−42%) | 2026-03-31 |
| TSM Taiwan Semiconductor Manufac | 0.3% | 16K | $5M | ▲ 37% (+4K) | $215.31 | $456.19 (+112%) | 2026-03-31 |
| SGMT Sagimet Biosciences Inc. Series A Common Stock | 0.2% | 725K | $4M | — | $8.80 | $9.77 (+11%) | 2026-03-31 |
| TUYA Tuya Inc | 0.2% | 1.6M | $4M | — | $1.89 | $1.72 (−9%) | 2026-03-31 |
| GE GE Aerospace | 0.2% | 10K | $3M | — | $207.40 | $313.49 (+51%) | 2026-03-31 |
| VIPS Vipshop Hldgs Ltd | 0.1% | 125K | $2M | NEW (+125K) | $13.20 | $12.63 (−4%) | 2026-03-31 |
| MOGU Mogu Inc | 0.1% | 848K | $2M | — | $3.25 | — (−31%) | 2026-03-31 |
| GOSS Gossamer Bio, Inc. Common Stock | 0.1% | 5.0M | $2M | — | $100.80 | $11.98 (−88%) | 2026-03-31 |
| INTC Intel Corp | 0.1% | 29K | $1M | NEW (+29K) | $44.13 | $119.69 (+171%) | 2026-03-31 |
| PACB Pacific Biosciences of California, Inc. | 0.1% | 919K | $1M | — | $8.35 | $2.42 (−71%) | 2026-03-31 |
| EQX Equinox Gold Corp. | 0.1% | 80K | $1M | — | $11.22 | $10.99 (−2%) | 2026-03-31 |
| NVDA NVIDIA CORP | 0.1% | 7K | $1M | NEW (+7K) | $90.36 | $230.82 (+155%) | 2026-03-31 |
| LITE Lumentum Holdings Inc. Common Stock | 0.1% | 2K | $1M | NEW (+2K) | $702.76 | $983.62 (+40%) | 2026-03-31 |
| GLW Corning Incorporated | 0.1% | 8K | $1M | NEW (+8K) | $135.97 | $152.85 (+12%) | 2026-03-31 |
| B Barrick Mining Corporation | 0.1% | 25K | $1M | — | $32.77 | $40.30 (+23%) | 2026-03-31 |
| COHR Coherent Corp. | 0.1% | 4K | $1M | NEW (+4K) | $238.21 | $289.90 (+22%) | 2026-03-31 |
| DDL Dingdong Cayman Ltd | 0.1% | 354K | $911K | NEW (+354K) | $2.57 | $2.12 (−18%) | 2026-03-31 |
| AXIA Centrais Elet Bras Sa | 0.0% | 63K | $712K | ▼ 35% (−34K) | $9.16 | — (+23%) | 2026-03-31 |
| EWW Ishares Inc | 0.0% | 9K | $662K | NEW (+9K) | $75.23 | $70.38 (−6%) | 2026-03-31 |
| ALGS Aligos Therapeutics, Inc. Common Stock | 0.0% | 76K | $567K | — | $8.66 | $5.60 (−35%) | 2026-03-31 |
| VNET Vnet Group Inc | 0.0% | 65K | $546K | ▲ 23% (+12K) | $8.45 | $5.50 (−35%) | 2026-03-31 |
| UXIN Uxin Ltd | 0.0% | 19K | $59K | — | $2.24 | $1.32 (−41%) | 2026-03-31 |
FAQ ▾
What are Hillhouse's largest holdings?
As of the latest 13F: Pdd Holdings Inc 25.4%, Alibaba Group Hldg Ltd 18.4%, Beone Medicines Ltd 18.4%, Futu Hldgs Ltd 11.6%, Legend Biotech Corp 6.5%.
How big is HHLR Advisors's 13F portfolio?
$1.7B across 37 disclosed U.S.-equity positions.
What is Hillhouse's 3-year performance?
+7% (13F-replication, price return), -72 pts vs the S&P 500. Not an audited fund return.
Where does this data come from?
U.S. SEC Form 13F-HR institutional holdings filings.
Sourced from SEC Form 13F-HR filings · Not investment advice ▾
Latest activity = change vs. the prior 13F. Avg buy price = est. entry over the trailing 3 years (gain = vs. latest price). Returns are 13F-replication, not audited fund returns. Sourced from SEC 13F filings.