HHLR Advisors, LTD.

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), HHLR Advisors, LTD. reported 77 stock positions worth $4.1 billion. Its top holding was PDD (PDD) at 29.2% of the portfolio, followed by Beone Medicines Ltd.-ADR (ONC, 18.2%) and Alibaba Group Holding-SP ADR (BABA, 9.6%). Compared with Q1 2024, it opened 22 new positions, sold out of 9, added to 18 and reduced 17. The biggest buy was Alibaba Group Holding-SP ADR (BABA, shares +3638%) and the biggest sale Microsoft (MSFT, shares −97%).

Most Recent 13F
Q2 2026
Location
GRAND CAYMAN, E9
CIK
0001762304
Portfolio Value
$4.1B (Q2 2024)
SEC Filing
0000902664-24-005160 ↗ filed Aug 14, 2024

Holdings Value

0$1.0B$2.0B$3.0B$4.0B$5.0B Q1 2024: $4.6B Q1 2024 Q2 2024: $4.1B $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 77 stocks · $4.1B
PDD PDD Holdings Inc. 29.16% 8,892,447 $1.2B Reduce -24.6%
ONC Beone Medicines Ltd.-ADR filed as BEIGENE LTD 18.22% 5,176,906 $738.6M No change
BABA Alibaba Group Holding-SP ADR 9.55% 5,379,448 $387.3M Add +3638.3%
BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC 8.09% 23,172,330 $327.9M Reduce -20.6%
LEGN Legend Biotech Corp.-ADR 7.25% 6,636,496 $293.9M Add +10.9%
VIPS Vipshop Holdings Ltd. - ADR 4.76% 14,806,000 $192.8M Add +7355.2%
NTES Netease Inc.-ADR 3.27% 1,385,814 $132.5M Add +825.7%
AVBP Arrivent Biopharma Inc. 2.05% 4,484,672 $83.2M Add +14.1%
TCOM Trip.com Group Ltd.-ADR 1.61% 1,384,642 $65.1M New
KNSA Kiniksa Pharmaceuticals Inte 1.45% 3,144,556 $58.7M Add +0.3%
FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD 1.16% 716,089 $47.0M New
ENFN Enfusion Inc. Class A 1.05% 4,975,183 $42.4M No change
CTKB Cytek Biosciences Inc. 0.92% 6,657,030 $37.1M No change
BBIO Bridgebio Pharma Inc. 0.87% 1,390,653 $35.2M Add +1.7%
DHR Danaher Corp. 0.67% 108,700 $27.2M Reduce -76.9%
DASH DoorDash Inc. Class A 0.67% 247,912 $27.0M Reduce -57.5%
CRM Salesforce Inc. 0.61% 96,358 $24.8M Reduce -79.2%
META Meta Platforms Inc. Class A 0.55% 44,476 $22.4M Add +641.3%
AZN Astrazeneca PLC-Spons ADR 0.52% 271,749 $21.2M New
HTHT H World Group Ltd.-ADR 0.47% 568,613 $18.9M Reduce -39.3%
YSG Yatsen Holding Ltd.-ADR 0.46% 6,987,839 $18.6M No change
APP AppLovin Corp. Class A 0.45% 218,400 $18.2M Add +67.0%
ONON On Holding AG Class A filed as ON HLDG AG 0.39% 411,400 $16.0M No change
GOOG Alphabet Inc. Class C 0.32% 69,724 $12.8M Add +18.4%
GERN Geron Corp. 0.31% 2,990,500 $12.7M New
SE Sea Ltd.-ADR 0.31% 174,800 $12.5M No change
CTNM Contineum Therapeutics Inc. Class A 0.29% 669,337 $11.8M New
TSM Taiwan Semiconductor-SP ADR 0.29% 66,800 $11.6M Reduce -31.9%
NBP Novabridge Biosciences filed as I MAB 0.28% 6,909,220 $11.5M No change
TMO Thermo Fisher Scientific Inc. 0.25% 18,400 $10.2M New
STVN Stevanato Group SPA 0.25% 550,000 $10.1M New
SOHU Sohu.com Ltd.-ADR 0.24% 713,400 $9.9M No change
NVDA Nvidia Corp. 0.24% 77,700 $9.6M Reduce -42.9%
MU Micron Technology Inc. 0.23% 72,404 $9.5M Add +0.4%
MSFT Microsoft Corp. 0.23% 20,837 $9.3M Reduce -97.0%
CPNG Coupang Inc. 0.23% 436,514 $9.1M Reduce -59.3%
AAPL Apple Inc. 0.21% 40,500 $8.5M Add +246.2%
AMZN Amazon.com Inc. 0.20% 41,700 $8.1M Reduce -94.9%
ASML ASML Holding NV-NY Reg SHS 0.13% 5,271 $5.4M Add +59.7%
GOSS Gossamer Bio Inc. 0.11% 4,974,041 $4.5M No change
RBLX Roblox Corp. Class A 0.10% 110,800 $4.1M New
S Sentinelone Inc. Class A 0.09% 170,507 $3.6M New
URA Global X Uranium ETF 0.09% 120,000 $3.5M Add +20.0%
ANET Arista Networks Inc. 0.08% 9,800 $3.4M Add +172.2%
EM Smart Share Global Ltd. - ADR 0.08% 3,949,700 $3.4M No change
MGX Metagenomi Therapeutics Inc. 0.08% 777,768 $3.2M No change
QCOM Qualcomm Inc. 0.07% 15,100 $3.0M Add +403.3%
ZK Zeekr Intelligent Techno-ADR 0.07% 145,000 $2.7M New
TUYA Tuya Inc. 0.07% 1,564,400 $2.7M No change
BCYC Bicycle Therapeutics PLC-ADR 0.06% 125,283 $2.5M New
SGMT Sagimet Biosciences Inc. Class A 0.06% 724,800 $2.5M No change
AVGO Broadcom Inc. 0.05% 1,350 $2.2M Reduce -35.7%
AMAT Applied Materials Inc. 0.05% 9,074 $2.1M New
BEDU Bright Scholar Education-ADR 0.05% 988,143 $2.1M No change
MOGU Mogu Inc.-ADR 0.05% 847,510 $2.0M No change
MA Mastercard Inc. Class A 0.05% 4,565 $2.0M New
V Visa Inc. Class A 0.05% 7,553 $2.0M New
MCO Moody's Corp. 0.04% 4,030 $1.7M Reduce -97.4%
BZ Kanzhun Ltd. - ADR 0.04% 88,400 $1.7M Reduce -0.8%
GEV GE Vernova Inc. 0.04% 9,606 $1.6M Add +104.4%
TT Trane Technologies PLC 0.04% 4,959 $1.6M New
PYPL PayPal Holdings Inc. 0.04% 27,453 $1.6M New
JD Jd.com Inc.-ADR 0.04% 61,000 $1.6M Reduce -0.4%
FRO Frontline PLC 0.04% 56,800 $1.5M New
GE General Electric filed as GE AEROSPACE 0.04% 9,198 $1.5M Reduce -51.1%
IMNM Immunome Inc. 0.03% 107,626 $1.3M New
PYXS Pyxis Oncology Inc. 0.03% 382,606 $1.3M No change
PACB Pacific Biosciences of Calif 0.03% 918,892 $1.3M No change
CDNS Cadence Design SYS Inc. 0.03% 3,774 $1.2M New
ALGS Aligos Therapeutics Inc. 0.03% 3,121,689 $1.1M Add +63.8%
DADA Dada Nexus Ltd.-ADR 0.02% 600,000 $756K New
ZTO Zto Express Cayman Inc.-ADR 0.02% 36,300 $753K Reduce -94.5%
CYBIN INC 0.02% 2,457,542 $666K New
LAKESHORE BIOPHARMA CO LTD 0.01% 751,790 $487K No change
GOOGL Alphabet Inc. Class A 0.01% 1,409 $257K New
RDGT Ridgetech Inc. filed as CHINA JO-JO DRUGSTORES INC 0.00% 20,167 $45K No change
UXIN Uxin Ltd. - ADR 0.00% 19,156 $39K No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $6K (not counted above)
SecurityClassShares / PrincipalValueChange
SRZNW Surrozen Inc.-CW25 *W EXP 08/01/203 384,273$6KNew

Total filed on the 13F, all lines: $4.1B.

Portfolio Sells Q1 2024 → Q2 2024
MSFT Microsoft Corp. Reduce -97.0% 0.23% −6.09
AMD Advanced Micro Devices Sold out 0.00% −3.58
AMZN Amazon.com Inc. Reduce -94.9% 0.20% −3.02
TTWO Take-Two Interactive Softwre Sold out 0.00% −2.53
CRM Salesforce Inc. Reduce -79.2% 0.61% −2.41
DHR Danaher Corp. Reduce -76.9% 0.67% −1.89
MCO Moody's Corp. Reduce -97.4% 0.04% −1.29
DASH DoorDash Inc. Class A Reduce -57.5% 0.67% −1.08
BEKE Ke Holdings Inc.-ADR Reduce -20.6% 8.09% −0.61
PDD PDD Holdings Inc. Reduce -24.6% 29.16% −0.61
BIDU Baidu Inc. - Spon ADR Sold out 0.00% −0.34
HTHT H World Group Ltd.-ADR Reduce -39.3% 0.47% −0.32
MDLZ Mondelez International Inc. Class A Sold out 0.00% −0.30
ZTO Zto Express Cayman Inc.-ADR Reduce -94.5% 0.02% −0.28
CPNG Coupang Inc. Reduce -59.3% 0.23% −0.19
MRVL Marvell Technology Inc. Sold out 0.00% −0.09
VRT Vertiv Holdings Co. Class A Sold out 0.00% −0.07
GE General Electric Reduce -51.1% 0.04% −0.04
NVDA Nvidia Corp. Reduce -42.9% 0.24% −0.03
ATAT Atour Lifestyle Holdings-ADR Sold out 0.00% −0.02
AVGO Broadcom Inc. Reduce -35.7% 0.05% −0.01
TSM Taiwan Semiconductor-SP ADR Reduce -31.9% 0.29% −0.00
YMM Full Truck Alliance -SPN ADR Sold out 0.00% −0.00
CEG Constellation Energy Sold out 0.00% −0.00
JD Jd.com Inc.-ADR Reduce -0.4% 0.04% +0.00
BZ Kanzhun Ltd. - ADR Reduce -0.8% 0.04% +0.01

Portfolio Buys Q1 2024 → Q2 2024
BABA Alibaba Group Holding-SP ADR Add +3638.3% 9.55% +9.33
VIPS Vipshop Holdings Ltd. - ADR Add +7355.2% 4.76% +4.68
NTES Netease Inc.-ADR Add +825.7% 3.27% +2.93
TCOM Trip.com Group Ltd.-ADR New 1.61% +1.61
FUTU Futu Holdings Ltd.-ADR New 1.16% +1.16
AVBP Arrivent Biopharma Inc. Add +14.1% 2.05% +0.53
AZN Astrazeneca PLC-Spons ADR New 0.52% +0.52
META Meta Platforms Inc. Class A Add +641.3% 0.55% +0.49
GERN Geron Corp. New 0.31% +0.31
CTNM Contineum Therapeutics Inc. Class A New 0.29% +0.29
APP AppLovin Corp. Class A Add +67.0% 0.45% +0.25
TMO Thermo Fisher Scientific Inc. New 0.25% +0.25
STVN Stevanato Group SPA New 0.25% +0.25
AAPL Apple Inc. Add +246.2% 0.21% +0.17
GOOG Alphabet Inc. Class C Add +18.4% 0.32% +0.12
KNSA Kiniksa Pharmaceuticals Inte Add +0.3% 1.45% +0.10
RBLX Roblox Corp. Class A New 0.10% +0.10
S Sentinelone Inc. Class A New 0.09% +0.09
ZK Zeekr Intelligent Techno-ADR New 0.07% +0.07
ASML ASML Holding NV-NY Reg SHS Add +59.7% 0.13% +0.06
QCOM Qualcomm Inc. Add +403.3% 0.07% +0.06
BCYC Bicycle Therapeutics PLC-ADR New 0.06% +0.06
ANET Arista Networks Inc. Add +172.2% 0.08% +0.06
AMAT Applied Materials Inc. New 0.05% +0.05
MU Micron Technology Inc. Add +0.4% 0.23% +0.05
MA Mastercard Inc. Class A New 0.05% +0.05
V Visa Inc. Class A New 0.05% +0.05
TT Trane Technologies PLC New 0.04% +0.04
PYPL PayPal Holdings Inc. New 0.04% +0.04
FRO Frontline PLC New 0.04% +0.04
IMNM Immunome Inc. New 0.03% +0.03
CDNS Cadence Design SYS Inc. New 0.03% +0.03
GEV GE Vernova Inc. Add +104.4% 0.04% +0.02
URA Global X Uranium ETF Add +20.0% 0.09% +0.02
DADA Dada Nexus Ltd.-ADR New 0.02% +0.02
CYBIN INC New 0.02% +0.02
GOOGL Alphabet Inc. Class A New 0.01% +0.01
ALGS Aligos Therapeutics Inc. Add +63.8% 0.03% −0.01
LEGN Legend Biotech Corp.-ADR Add +10.9% 7.25% −0.04
BBIO Bridgebio Pharma Inc. Add +1.7% 0.87% −0.05

Notes & Other Activity Q1 2024 → Q2 2024
SRZNW Surrozen Inc.-CW25 *W EXP 08/01/203 New 384,273 $6K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

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