HHLR Advisors, LTD.

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 14, 2024), HHLR Advisors, LTD. reported 63 stock positions worth $4.6 billion. Its top holding was PDD (PDD) at 29.8% of the portfolio, followed by Beone Medicines Ltd.-ADR (ONC, 17.6%) and Ke Holdings Inc.-ADR (BEKE, 8.7%). Compared with Q4 2023, it opened 21 new positions, sold out of 7, added to 2 and reduced 17. The biggest buy was a new position in Advanced Micro Devices (AMD) and the biggest sale Alibaba Group Holding-SP ADR (BABA, shares −88%).

Most Recent 13F
Q2 2026
Location
GRAND CAYMAN, E9
CIK
0001762304
Portfolio Value
$4.6B (Q1 2024)
SEC Filing
0000902664-24-003550 ↗ filed May 14, 2024

Holdings Value

0$1.0B$2.0B$3.0B$4.0B$5.0B Q1 2024: $4.6B $4.6B Q1 2024 Q2 2024: $4.1B Q2 2024 Q3 2024: $4.6B Q3 2024 Q4 2024: $2.9B Q4 2024 Q1 2025: $3.5B Q1 2025 Q2 2025: $3.1B Q2 2025 Q3 2025: $4.1B Q3 2025 Q4 2025: $3.1B Q4 2025 Q1 2026: $1.7B Q1 2026 Q2 2026: $832.1M Q2 2026

Holdings 63 stocks · $4.6B
PDD PDD Holdings Inc. 29.77% 11,791,547 $1.4B Add +16.6%
ONC Beone Medicines Ltd.-ADR filed as BEIGENE LTD 17.58% 5,176,906 $809.6M No change
BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC 8.70% 29,181,868 $400.7M Reduce -0.1%
LEGN Legend Biotech Corp.-ADR 7.29% 5,984,550 $335.7M No change
MSFT Microsoft Corp. 6.32% 692,100 $291.2M Reduce -5.1%
AMD Advanced Micro Devices 3.58% 912,400 $164.7M New
AMZN Amazon.com Inc. 3.22% 822,900 $148.4M Add +1.4%
CRM Salesforce Inc. 3.02% 462,137 $139.2M Reduce -38.2%
DHR Danaher Corp. 2.56% 471,100 $117.6M No change
TTWO Take-Two Interactive Softwre 2.53% 783,000 $116.3M No change
DASH DoorDash Inc. Class A 1.75% 583,463 $80.4M Reduce -43.5%
AVBP Arrivent Biopharma Inc. 1.52% 3,929,117 $70.2M New
KNSA Kiniksa Pharmaceuticals Ltd. 1.34% 3,135,735 $61.9M New
MCO Moody's Corp. 1.33% 155,846 $61.3M No change
ENFN Enfusion Inc. Class A 1.00% 4,975,183 $46.0M No change
CTKB Cytek Biosciences Inc. 0.97% 6,657,030 $44.7M No change
BBIO Bridgebio Pharma Inc. 0.92% 1,367,489 $42.3M Reduce -1.7%
HTHT H World Group Ltd.-ADR 0.79% 935,920 $36.2M No change
CPNG Coupang Inc. 0.41% 1,071,500 $19.1M Reduce -51.7%
BIDU Baidu Inc. - Spon ADR 0.34% 150,600 $15.9M Reduce -71.9%
NTES Netease Inc.-ADR 0.34% 149,700 $15.5M No change
YSG Yatsen Holding Ltd.-ADR 0.32% 6,987,839 $14.7M No change
ONON On Holding AG Class A filed as ON HLDG AG 0.32% 411,400 $14.6M No change
MDLZ Mondelez International Inc. Class A 0.30% 196,288 $13.7M Reduce -47.0%
ZTO Zto Express Cayman Inc.-ADR 0.30% 654,524 $13.7M Reduce -19.6%
TSM Taiwan Semiconductor-SP ADR 0.29% 98,100 $13.3M New
NBP Novabridge Biosciences filed as I MAB 0.28% 6,909,220 $12.9M No change
NVDA Nvidia Corp. 0.27% 13,600 $12.3M New
BABA Alibaba Group Holding-SP ADR 0.23% 143,900 $10.4M Reduce -88.2%
SE Sea Ltd.-ADR 0.20% 174,800 $9.4M No change
APP AppLovin Corp. Class A 0.20% 130,800 $9.1M New
GOOG Alphabet Inc. Class C 0.19% 58,900 $9.0M New
MU Micron Technology Inc. 0.18% 72,100 $8.5M New
MGX Metagenomi Therapeutics Inc. 0.18% 777,768 $8.2M New
SOHU Sohu.com Ltd.-ADR 0.16% 713,400 $7.5M Reduce -2.5%
GOSS Gossamer Bio Inc. 0.13% 4,974,041 $5.9M No change
MRVL Marvell Technology Inc. 0.09% 59,500 $4.2M New
SGMT Sagimet Biosciences Inc. Class A 0.09% 724,800 $3.9M Reduce -50.0%
PACB Pacific Biosciences of Calif 0.07% 918,892 $3.4M No change
GE General Electric 0.07% 18,800 $3.3M New
VIPS Vipshop Holdings Ltd. - ADR 0.07% 198,600 $3.3M No change
ASML ASML Holding NV-NY Reg SHS 0.07% 3,300 $3.2M New
VRT Vertiv Holdings Co. Class A 0.07% 38,200 $3.1M New
META Meta Platforms Inc. Class A 0.06% 6,000 $2.9M New
URA Global X Uranium ETF 0.06% 100,000 $2.9M New
AVGO Broadcom Inc. 0.06% 2,100 $2.8M New
TUYA Tuya Inc. 0.06% 1,564,400 $2.7M Reduce -2.2%
EM Smart Share Global Ltd. - ADR 0.06% 3,949,700 $2.6M No change
AAPL Apple Inc. 0.04% 11,700 $2.0M New
BEDU Bright Scholar Education-ADR 0.04% 988,143 $2.0M No change
ALGS Aligos Therapeutics Inc. 0.04% 1,906,191 $1.9M No change
JD Jd.com Inc.-ADR 0.04% 61,250 $1.7M Reduce -95.8%
PYXS Pyxis Oncology Inc. 0.04% 382,606 $1.6M No change
MOGU Mogu Inc.-ADR 0.03% 847,510 $1.6M No change
BZ Kanzhun Ltd. - ADR 0.03% 89,100 $1.6M Reduce -28.0%
ANET Arista Networks Inc. 0.02% 3,600 $1.0M New
ATAT Atour Lifestyle Holdings-ADR 0.02% 50,000 $897K Reduce -75.0%
LAKESHORE BIOPHARMA CO LTD filed as YS BIOPHARMA CO LTD 0.01% 751,790 $526K No change
QCOM Qualcomm Inc. 0.01% 3,000 $508K New
YMM Full Truck Alliance -SPN ADR 0.00% 13,519 $98K Reduce -99.4%
RDGT Ridgetech Inc. filed as CHINA JO-JO DRUGSTORES INC 0.00% 20,167 $63K New
CEG Constellation Energy 0.00% 300 $55K New
UXIN Uxin Ltd. - ADR 0.00% 19,156 $41K No change

Portfolio Sells Q4 2023 → Q1 2024
BABA Alibaba Group Holding-SP ADR Reduce -88.2% 0.23% −1.68
RYZB Rayzebio Inc. Sold out 0.00% −1.33
CRM Salesforce Inc. Reduce -38.2% 3.02% −0.94
BIDU Baidu Inc. - Spon ADR Reduce -71.9% 0.34% −0.94
BEKE Ke Holdings Inc.-ADR Reduce -0.1% 8.70% −0.84
JD Jd.com Inc.-ADR Reduce -95.8% 0.04% −0.81
NMRA Neumora Therapeutics Inc. Sold out 0.00% −0.58
YMM Full Truck Alliance -SPN ADR Reduce -99.4% 0.00% −0.32
DASH DoorDash Inc. Class A Reduce -43.5% 1.75% −0.31
CPNG Coupang Inc. Reduce -51.7% 0.41% −0.31
MDLZ Mondelez International Inc. Class A Reduce -47.0% 0.30% −0.24
BBIO Bridgebio Pharma Inc. Reduce -1.7% 0.92% −0.21
DDOG Datadog Inc. Class A Sold out 0.00% −0.21
FUTU Futu Holdings Ltd.-ADR Sold out 0.00% −0.09
SGMT Sagimet Biosciences Inc. Class A Reduce -50.0% 0.09% −0.07
ZTO Zto Express Cayman Inc.-ADR Reduce -19.6% 0.30% −0.05
ATAT Atour Lifestyle Holdings-ADR Reduce -75.0% 0.02% −0.05
TUYA Tuya Inc. Reduce -2.2% 0.06% −0.01
IQ Iqiyi Inc.-ADR Sold out 0.00% −0.01
PLTK Playtika Holding Corp. Sold out 0.00% −0.01
BZ Kanzhun Ltd. - ADR Reduce -28.0% 0.03% −0.01
CHINA JO-JO DRUGSTORES INC Sold out 0.00% −0.00
SOHU Sohu.com Ltd.-ADR Reduce -2.5% 0.16% +0.02
MSFT Microsoft Corp. Reduce -5.1% 6.32% +0.80

Portfolio Buys Q4 2023 → Q1 2024
AMD Advanced Micro Devices New 3.58% +3.58
AVBP Arrivent Biopharma Inc. New 1.52% +1.52
KNSA Kiniksa Pharmaceuticals Ltd. New 1.34% +1.34
AMZN Amazon.com Inc. Add +1.4% 3.22% +0.74
TSM Taiwan Semiconductor-SP ADR New 0.29% +0.29
NVDA Nvidia Corp. New 0.27% +0.27
APP AppLovin Corp. Class A New 0.20% +0.20
GOOG Alphabet Inc. Class C New 0.19% +0.19
MU Micron Technology Inc. New 0.18% +0.18
MGX Metagenomi Therapeutics Inc. New 0.18% +0.18
MRVL Marvell Technology Inc. New 0.09% +0.09
GE General Electric New 0.07% +0.07
ASML ASML Holding NV-NY Reg SHS New 0.07% +0.07
VRT Vertiv Holdings Co. Class A New 0.07% +0.07
META Meta Platforms Inc. Class A New 0.06% +0.06
URA Global X Uranium ETF New 0.06% +0.06
AVGO Broadcom Inc. New 0.06% +0.06
AAPL Apple Inc. New 0.04% +0.04
ANET Arista Networks Inc. New 0.02% +0.02
QCOM Qualcomm Inc. New 0.01% +0.01
RDGT Ridgetech Inc. New 0.00% +0.00
CEG Constellation Energy New 0.00% +0.00
PDD PDD Holdings Inc. Add +16.6% 29.77% −0.04

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 35$832.1MLEGN, FUTU, AVBP, MRVL, VIPS
Q1 2026 38$1.7BPDD, BABA, ONC, FUTU, LEGN
Q4 2025 33$3.1BPDD, BABA, ONC, FUTU, LEGN
Q3 2025 33$4.1BPDD, BABA, FUTU, BULL, ONC
Q2 2025 36$3.1BPDD, FUTU, BULL, ONC, NTES
Q1 2025 49$3.5BPDD, BABA, FUTU, ONC, NTES
Q4 2024 45$2.9BONC, BABA, PDD, NTES, BEKE
Q3 2024 48$4.6BONC, BABA, PDD, LEGN, VIPS
Q2 2024 77$4.1BPDD, ONC, BABA, BEKE, LEGN
Q1 2024 63$4.6BPDD, ONC, BEKE, LEGN, MSFT