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Asset Manager ← All Institutions

HHLR ADVISORS, LTD.

Q4 2025 · Filed 2026-02-17
Market Value
$3.0B
-14.5%
Holdings
32
-2
New Purchases
5
Added To
2
Closed
5
Reduced
2
Top 10 Concentration
97.5%
Turnover
31.2%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
BABA 26.22% 16.55% +9.67% $796M
PDD 40.05% 31.98% +8.07% $1.2B
CTKB 1.11% 0.65% +0.46% $34M
ONC 10.35% 9.92% +0.43% $314M
CWAN 1.09% 0.69% +0.39% $33M
MAZE 0.62% 0.33% +0.29% $19M
AVBP 2.60% 2.33% +0.27% $79M
IMAB 0.78% 0.64% +0.15% $24M
GOSS 0.51% 0.37% +0.14% $15M
TSM 0.11% 0.00% +0.11% $3M
GOOGL 0.08% 0.00% +0.08% $2M
IBIT 0.06% 0.00% +0.06% $2M
API 0.28% 0.23% +0.06% $9M
CTNM 0.25% 0.22% +0.03% $8M
AXIA 0.03% 0.00% +0.03% $885K

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
FUTU 8.82% 15.86% -7.04% $268M
BIDU 0.00% 6.09% -6.09% $0
NTES 0.00% 3.38% -3.38% $0
YMM 0.00% 1.49% -1.49% $0
LEGN 4.29% 5.49% -1.21% $130M
SE 0.00% 0.91% -0.91% $0
EM 0.00% 0.15% -0.15% $0
BEKE 2.20% 2.27% -0.07% $67M
TUYA 0.11% 0.11% -0.00% $3M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 4 $805M 26.5%
Large Cap 11 $1.9B 61.6%
Mid Cap 5 $165M 5.4%
Small Cap 8 $177M 5.8%
Micro Cap 4 $20M 0.7%

Portfolio Analytics

Avg Market Cap
$249.7B
Median Market Cap
$9.1B
Avg P/E
24.5
Median P/E
18.0
Avg Dividend Yield
0.01%
Avg Beta
1.07
# Stocks
31
# ETFs / Funds
1

Top Holdings (32 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 PDD 40.05% 10,721,400 $1.2B $113.39 $80M +2,128,800 +24.8%
2 BABA 26.22% 5,430,346 $796M $146.58 $208M +2,140,680 +65.1%
3 ONC 10.35% 1,034,306 $314M $303.81 -$38M
4 FUTU 8.82% 1,630,249 $268M $164.21 -$295M -1,607,930 -49.7%
5 LEGN 4.29% 5,984,550 $130M $21.74 -$65M
6 AVBP 2.60% 3,929,117 $79M $20.12 -$4M -555,555 -12.4%
7 BEKE 2.20% 4,236,278 $67M $15.76 -$14M
8 CTKB 1.11% 6,657,030 $34M $5.05 $11M
9 CWAN 1.09% 1,365,971 $33M $24.12 $8M
10 IMAB 0.78% 5,980,568 $24M $3.98 $1M
11 MAZE 0.62% 457,535 $19M $41.43 $7M
12 GOSS 0.51% 4,974,041 $15M $3.10 $2M
13 API 0.28% 2,098,553 $9M $4.07 $525K
14 CTNM 0.25% 669,337 $8M $11.43 -$214K
15 SGMT 0.14% 724,800 $4M $5.92 -$681K
16 TSM 0.11% 11,300 $3M $303.89 +11,300 NEW
17 TUYA 0.11% 1,564,400 $3M $2.11 -$563K
18 GE 0.10% 10,043 $3M $308.03 $72K
19 GOOGL 0.08% 7,300 $2M $313.00 +7,300 NEW
20 IBIT 0.06% 35,300 $2M $49.65 +35,300 NEW
21 PACB 0.06% 918,892 $2M $1.87 $542K
22 MCO 0.05% 2,888 $1M $510.85 $99K
23 EQX 0.04% 80,500 $1M $14.04 $227K
24 B 0.04% 25,400 $1M $43.55 $274K
25 AXIA 0.03% 96,600 $885K $9.16 +96,600 NEW
26 VNET 0.01% 53,100 $449K $8.46 +53,100 NEW
27 CJJD —% 20,167 $57K $2.85 $33K
28 EM —% -$5M -3,949,700 -100.0% SOLD
29 NTES —% -$120M -790,807 -100.0% SOLD
30 BIDU —% -$216M -1,641,000 -100.0% SOLD
31 YMM —% -$53M -4,066,553 -100.0% SOLD
32 SE —% -$32M -180,050 -100.0% SOLD

New Positions

SymbolValue% Port
TSM $3M 0.11%
GOOGL $2M 0.08%
IBIT $2M 0.06%
AXIA $885K 0.03%
VNET $449K 0.01%

Sold Out Positions

SymbolValue% Port
SE —%
YMM —%
BIDU —%
NTES —%
EM —%
View SEC EDGAR Filings for HHLR ADVISORS, LTD. →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms