Top Institutional Investors

HHLR ADVISORS, LTD. — 13F Holdings & Portfolio

CIK 1762304 · latest 13F-HR filed 2026-08-14

Backtest portfolio

HHLR ADVISORS, LTD. manages $832.1M in 13F-reported U.S. long-equity assets across 35 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are LEGN (20.77%), FUTU (19.92%), AVBP (16.40%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 6 new positions and exited 9; 15 existing positions rose in reported value and 11 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM
$832.1M

Long-equity book

Holdings
35

Distinct positions

Period
2026-06-30

Filed 2026-08-14

Q/Q Activity
+6 / −9 / ↑15 / ↓11

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
LEGN20.8% · 0%FUTU19.9% · +25%AVBP16.4% · 0%MRVL5.8% · -5%VIPS5.5% · +2683%PDD4.6% · -88%BEKE3.9% · -48%CTKB3.5% · 0%ALMR3.1% · newBABA2.1% · -92%ODTX1.9% · newYSG1.9% · 0%NBP1.4% · 0%CTNM1.3% · 0%MAZE1.3% · 0%API1.0% · 0%TSM0.9% · -0%SGMT0.7% · 0%NTES0.5% · newGE0.5% · 0%LITE0.3% · +120%NVDA0.3% · +113%TUYA0.3% · 0%GLW0.3% · +33%COHR0.3% · +50%BULL0.2% · -79%INTC0.2% · -51%PACB0.2% · 0%TXN0.2% · newMOGU0.2% · 0%GOSS0.1% · 0%EQX0.1% · 0%ZM0.1% · newALGS0.1% · 0%RDGT0.0% · -99%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 85.7%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Mar 31, 2026.

Address
8 MARINA BOULEVARD
MARINA BAY FINANCIAL CENTRE TOWER 1, LEVEL 28
SINGAPORE 018981
Singapore
Phone
(656) 603-0860
Website
Name Title / Status Ownership Type
ELLERBE, KAREN, KARITA ControlDIRECTOR
since Nov 2025
Less than 5%Individual
HILLHOUSE GROUP LIMITED ControlSHAREHOLDER
since Oct 2012
75% or moreForeign Entity
HORNUNG, RICHARD, A. ControlCO-CHIEF OPERATING OFFICER, GENERAL COUNSEL, DIRECTOR
since Oct 2025
Less than 5%Individual
MA, CUIFANG, (TRACY) ControlCO-PRESIDENT, DIRECTOR
since Oct 2025
Less than 5%Individual
O'CONNELL, COLM JOHN ControlDIRECTOR
since Oct 2012
Less than 5%Individual
WOON, AUDREY, HUI ControlCHIEF COMPLIANCE OFFICER
since Sep 2022
Less than 5%Individual
XU, VIVIEN ControlCO-CHIEF INVESTMENT OFFICER
since Mar 2022
Less than 5%Individual
ZHANG, LEI ControlCHAIRMAN
since Mar 2022
Less than 5%Individual
HILLHOUSE GROUP HOLDINGS LIMITED Control
Indirect owner via HILLHOUSE GROUP LIMITED
SHAREHOLDER
since Dec 2011
75% or moreForeign Entity
ZHANG, LEI Control
Indirect owner via HILLHOUSE GROUP HOLDINGS LIMITED
SHAREHOLDER
since Dec 2011
75% or moreIndividual
Ownership & leadership changes · 10 filings with changes since Nov 7, 2012

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Nov 14, 2025 filing
  • No longer listedKIDNER, BRIDGET, NICHOLA · DIRECTOR · Less than 5% · control person · listed since Mar 2020
  • AddedELLERBE, KAREN, KARITA · DIRECTOR · Less than 5% · control person
  • ChangedHORNUNG, RICHARD, A. · title CO-CHIEF OPERATING OFFICER, GENERAL COUNSEL → CO-CHIEF OPERATING OFFICER, GENERAL COUNSEL, DIRECTOR
  • ChangedMA, CUIFANG, (TRACY) · title CO-PRESIDENT → CO-PRESIDENT, DIRECTOR
Mar 29, 2024 filing
  • ChangedMA, CUIFANG, (TRACY) · title CO-CHIEF OPERATING OFFICER → CO-PRESIDENT
Sep 1, 2022 filing
  • AddedWOON, AUDREY, HUI · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ChangedHORNUNG, RICHARD, A. · title CHIEF COMPLIANCE OFFICER / GENERAL COUNSEL → CO-CHIEF OPERATING OFFICER, GENERAL COUNSEL
  • ChangedMA, CUIFANG, (TRACY) · title CHIEF OPERATING OFFICER → CO-CHIEF OPERATING OFFICER
Mar 31, 2022 filing
  • No longer listedYI, QINGQING · CO-CHIEF INVESTMENT OFFICER · Less than 5% · control person · listed since Jan 2020
  • AddedXU, VIVIEN · CO-CHIEF INVESTMENT OFFICER · Less than 5% · control person
  • ChangedZHANG, LEI · title CO-CHIEF INVESTMENT OFFICER / PRESIDENT → CHAIRMAN
Jul 31, 2021 filing
  • No longer listedHILLHOUSE CAPITAL GROUP HOLDINGS LIMITED · SHAREHOLDER · 75% or more · indirect via HILLHOUSE CAPITAL GROUP LIMITED · control person · listed since Jan 2012
  • No longer listedHILLHOUSE CAPITAL GROUP LIMITED · SHAREHOLDER · 75% or more · control person · listed since Oct 2012
  • No longer listedZHANG, LEI · SHAREHOLDER · 75% or more · indirect via HILLHOUSE CAPITAL GROUP HOLDINGS LIMITED · control person · listed since Jan 2012
  • AddedHILLHOUSE GROUP HOLDINGS LIMITED · SHAREHOLDER · 75% or more · indirect via HILLHOUSE GROUP LIMITED · control person
  • AddedHILLHOUSE GROUP LIMITED · SHAREHOLDER · 75% or more · control person
  • AddedZHANG, LEI · SHAREHOLDER · 75% or more · indirect via HILLHOUSE GROUP HOLDINGS LIMITED · control person
Mar 31, 2021 filing
  • No longer listedSHEN, JUN · DIRECTOR · Less than 5% · control person · listed since Jul 2013
  • AddedKIDNER, BRIDGET, NICHOLA · DIRECTOR · Less than 5% · control person
Mar 30, 2020 filing
  • Listed againYI, QINGQING · CO-CHIEF INVESTMENT OFFICER · Less than 5% · control person
  • ChangedZHANG, LEI · title CHIEF INVESTMENT OFFICER / PRESIDENT → CO-CHIEF INVESTMENT OFFICER / PRESIDENT
Feb 1, 2019 filing
  • AddedMA, CUIFANG, (TRACY) · CHIEF OPERATING OFFICER · Less than 5% · control person
  • ChangedHORNUNG, RICHARD, A. · title CHIEF COMPLIANCE OFFICER AND GENERAL COUNSEL → CHIEF COMPLIANCE OFFICER / GENERAL COUNSEL
  • ChangedZHANG, LEI · title PRESIDENT → CHIEF INVESTMENT OFFICER / PRESIDENT
Mar 30, 2016 filing
  • No longer listedYI, QINGQING · CHIEF INVESTMENT OFFICER · Less than 5% · control person · listed since Oct 2012
Mar 31, 2014 filing
  • AddedSHEN, JUN · DIRECTOR · Less than 5% · control person
Older changes (1 more filing)
Nov 7, 2012 filing (earliest on record)
  • ListedHILLHOUSE CAPITAL GROUP HOLDINGS LIMITED · SHAREHOLDER · 75% or more · indirect via HILLHOUSE CAPITAL GROUP LIMITED · control person
  • ListedHILLHOUSE CAPITAL GROUP LIMITED · SHAREHOLDER · 75% or more · control person
  • ListedHORNUNG, RICHARD, A. · CHIEF COMPLIANCE OFFICER AND GENERAL COUNSEL · Less than 5% · control person
  • ListedO'CONNELL, COLM JOHN · DIRECTOR · Less than 5% · control person
  • ListedYI, QINGQING · CHIEF INVESTMENT OFFICER · Less than 5% · control person
  • ListedZHANG, LEI · PRESIDENT · Less than 5% · control person
  • ListedZHANG, LEI · SHAREHOLDER · 75% or more · indirect via HILLHOUSE CAPITAL GROUP HOLDINGS LIMITED · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

HHLR ADVISORS, LTD. Holdings (2026-06-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 LEGEND BIOTECH CORP LEGN 52490G102 $172.8M 20.77% 5,984,550 SH
2 FUTU HLDGS LTD FUTU 36118L106 $165.8M 19.92% 1,768,283 SH
3 ARRIVENT BIOPHARMA INC AVBP 04272N102 $136.5M 16.40% 3,929,117 SH
4 MARVELL TECHNOLOGY INC MRVL 573874104 $48.5M 5.83% 162,933 SH
5 VIPSHOP HLDGS LTD VIPS 92763W103 $46.0M 5.53% 3,470,400 SH
6 PDD HOLDINGS INC PDD 722304102 $38.1M 4.58% 500,000 SH
7 KE HLDGS INC BEKE 482497104 $32.2M 3.87% 2,218,377 SH
8 CYTEK BIOSCIENCES INC CTKB 23285D109 $29.5M 3.54% 6,657,030 SH
9 ALAMAR BIOSCIENCES INC ALMR 010911105 $25.9M 3.11% 956,462 SH
10 ALIBABA GROUP HLDG LTD BABA 01609W102 $17.7M 2.12% 183,934 SH
11 ODYSSEY THERAPEUTICS INC ODTX 67613T104 $15.6M 1.87% 831,656 SH
12 YATSEN HLDG LTD YSG 985194208 $15.5M 1.86% 4,885,873 SH
13 NOVABRIDGE BIOSCIENCES NBP 44975P103 $11.7M 1.40% 5,980,568 SH
14 CONTINEUM THERAPEUTICS INC CTNM 21217B100 $11.0M 1.32% 669,337 SH
15 MAZE THERAPEUTICS INC MAZE 578784100 $10.9M 1.31% 366,028 SH
16 AGORA INC API 00851L103 $8.4M 1.01% 2,098,553 SH
17 TAIWAN SEMICONDUCTOR MANUFAC TSM 874039100 $7.4M 0.89% 15,510 SH
18 SAGIMET BIOSCIENCES INC SGMT 786700104 $5.6M 0.67% 724,800 SH
19 NETEASE COM INC NTES 64110W102 $4.5M 0.54% 34,999 SH
20 GE AEROSPACE GE 369604301 $3.8M 0.45% 10,043 SH
21 LUMENTUM HLDGS INC LITE 55024U109 $2.8M 0.34% 3,300 SH
22 NVIDIA CORPORATION NVDA 67066G104 $2.8M 0.34% 14,054 SH
23 TUYA INC TUYA 90114C107 $2.8M 0.33% 1,564,400 SH
24 CORNING INC GLW 219350105 $2.6M 0.32% 10,266 SH
25 COHERENT CORP COHR 19247G107 $2.5M 0.30% 6,417 SH
26 WEBULL CORP BULL G9572D103 $2.0M 0.24% 309,857 SH
27 INTEL CORP INTC 458140100 $2.0M 0.24% 14,300 SH
28 PACIFIC BIOSCIENCES CALIF IN PACB 69404D108 $1.5M 0.19% 918,892 SH
29 TEXAS INSTRS INC TXN 882508104 $1.4M 0.17% 4,800 SH
30 MOGU INC MOGU 608012308 $1.4M 0.17% 847,510 SH
31 GOSSAMER BIO INC GOSS 38341P102 $818.7K 0.10% 4,974,041 SH
32 EQUINOX GOLD CORP EQX 29446Y502 $782.5K 0.09% 80,500 SH
33 ZOOM COMMUNICATIONS INC ZM 98980L101 $777.7K 0.09% 9,010 SH
34 ALIGOS THERAPEUTICS INC ALGS 01626L204 $439.9K 0.05% 76,247 SH
35 RIDGETECH INC RDGT G2124G203 $204 0.00% 136 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-14 $832.1M 35 0000919574-26-005568
2026-03-31 2026-05-15 $1.67B 38 0000919574-26-003551
2025-12-31 2026-02-17 $3.10B 33 0000902664-26-001126
2025-09-30 2025-11-14 $4.09B 33 0000902664-25-004996
Filer Information
Address
OFFICE #122, WINDWARD 3 BUILDING
REGATTA OFFICE PARK, WEST BAY ROAD
GRAND CAYMAN, E9 KY1-9006
Phone
(345) 749-8643
Filing Manager
HHLR ADVISORS, LTD.
GRAND CAYMAN, E9
Signatory
Audrey Woon
Chief Compliance Officer