HHLR Advisors, LTD.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), HHLR Advisors, LTD. reported 45 stock positions worth $2.9 billion. Its top holding was Beone Medicines Ltd.-ADR (ONC) at 24.3% of the portfolio, followed by Alibaba Group Holding-SP ADR (BABA, 14.4%) and PDD (PDD, 9.2%). Compared with Q3 2024, it opened 4 new positions, sold out of 7, added to 10 and reduced 10. The biggest buy was a new position in WNS (WNS) and the biggest sale Alibaba Group Holding-SP ADR (BABA, shares −45%).
- Most Recent 13F
- Q2 2026
- Location
- GRAND CAYMAN, E9
- CIK
- 0001762304
- Portfolio Value
- $2.9B (Q4 2024)
- SEC Filing
- 0000902664-25-001073 ↗ filed Feb 14, 2025
Holdings Value
Holdings 45 stocks · $2.9B
| ONC Beone Medicines Ltd.-ADR filed as BEIGENE LTD | 24.34% | 3,804,406 | $702.7M | Reduce -26.5% |
| BABA Alibaba Group Holding-SP ADR | 14.35% | 4,887,300 | $414.4M | Reduce -44.6% |
| PDD PDD Holdings Inc. | 9.17% | 2,730,275 | $264.8M | Reduce -42.7% |
| NTES Netease Inc.-ADR | 8.00% | 2,588,943 | $231.0M | No change |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 7.18% | 11,261,276 | $207.4M | Add +3.6% |
| VIPS Vipshop Holdings Ltd. - ADR | 6.94% | 14,880,002 | $200.4M | Reduce -5.3% |
| LEGN Legend Biotech Corp.-ADR | 6.74% | 5,984,550 | $194.7M | Reduce -9.8% |
| AVBP Arrivent Biopharma Inc. | 4.14% | 4,484,672 | $119.5M | No change |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 3.10% | 1,118,303 | $89.5M | Add +6.4% |
| WNS WNS Holdings Ltd. filed as WNS HLDGS LTD | 2.51% | 1,531,466 | $72.6M | New |
| TCOM Trip.com Group Ltd.-ADR | 2.17% | 913,842 | $62.7M | Reduce -48.5% |
| JD Jd.com Inc.-ADR | 2.03% | 1,690,000 | $58.6M | Add +5.6% |
| ENFN Enfusion Inc. Class A | 1.77% | 4,975,183 | $51.2M | No change |
| CTKB Cytek Biosciences Inc. | 1.50% | 6,657,030 | $43.2M | No change |
| KNSA Kiniksa Pharmaceuticals Inte | 1.08% | 1,582,635 | $31.3M | No change |
| BBIO Bridgebio Pharma Inc. | 0.97% | 1,023,950 | $28.1M | No change |
| YSG Yatsen Holding Ltd.-ADR | 0.95% | 6,885,873 | $27.4M | Reduce -1.5% |
| CTNM Contineum Therapeutics Inc. Class A | 0.34% | 669,337 | $9.8M | No change |
| API Agora Inc.-ADR | 0.30% | 2,098,553 | $8.7M | New |
| ZTO Zto Express Cayman Inc.-ADR | 0.30% | 435,927 | $8.5M | Reduce -85.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.29% | 42,588 | $8.4M | Add +119.6% |
| SOHU Sohu.com Ltd.-ADR | 0.23% | 510,484 | $6.7M | Reduce -28.4% |
| NBP Novabridge Biosciences filed as I MAB | 0.18% | 5,980,568 | $5.1M | Reduce -13.4% |
| GOSS Gossamer Bio Inc. | 0.16% | 4,974,041 | $4.5M | No change |
| SGMT Sagimet Biosciences Inc. Class A | 0.11% | 724,800 | $3.3M | No change |
| ALGS Aligos Therapeutics Inc. | 0.11% | 76,247 | $3.0M | No change |
| DHR Danaher Corp. | 0.10% | 13,079 | $3.0M | Add +43.7% |
| MGX Metagenomi Therapeutics Inc. | 0.10% | 777,768 | $2.8M | No change |
| TUYA Tuya Inc. | 0.10% | 1,564,400 | $2.8M | No change |
| EM Smart Share Global Ltd. - ADR | 0.10% | 3,949,700 | $2.8M | No change |
| GEV GE Vernova Inc. | 0.09% | 7,826 | $2.6M | Add +1.0% |
| MSCI MSCI Inc. | 0.08% | 3,650 | $2.2M | New |
| MCO Moody's Corp. | 0.07% | 4,477 | $2.1M | Add +198.1% |
| MOGU Mogu Inc.-ADR | 0.06% | 847,510 | $1.8M | No change |
| GE General Electric filed as GE AEROSPACE | 0.06% | 10,328 | $1.7M | Add +80.8% |
| BEDU Bright Scholar Education-ADR | 0.06% | 988,143 | $1.7M | No change |
| PACB Pacific Biosciences of Calif | 0.06% | 918,892 | $1.7M | No change |
| JOYY Joyy Inc.-ADR | 0.04% | 30,000 | $1.3M | No change |
| TT Trane Technologies PLC | 0.03% | 2,338 | $864K | Add +210.5% |
| DADA Dada Nexus Ltd.-ADR | 0.03% | 700,000 | $847K | Add +16.7% |
| PYXS Pyxis Oncology Inc. | 0.02% | 382,606 | $597K | No change |
| MOMO Hello Group Inc. -SPN ADR | 0.01% | 53,590 | $413K | New |
| LSBCF Lakeshore Biopharma Co. Ltd. | 0.01% | 75,179 | $259K | No change |
| UXIN Uxin Ltd. - ADR | 0.00% | 19,156 | $89K | No change |
| RDGT Ridgetech Inc. filed as CHINA JO-JO DRUGSTORES INC | 0.00% | 20,167 | $35K | No change |
Portfolio Sells Q3 2024 → Q4 2024
| BABA Alibaba Group Holding-SP ADR | Reduce -44.6% | 14.35% | −6.21 |
| PDD PDD Holdings Inc. | Reduce -42.7% | 9.17% | −4.94 |
| ZTO Zto Express Cayman Inc.-ADR | Reduce -85.5% | 0.30% | −1.34 |
| ONC Beone Medicines Ltd.-ADR | Reduce -26.5% | 24.34% | −1.18 |
| BIDU Baidu Inc. - Spon ADR | Sold out | 0.00% | −0.69 |
| YUMC Yum China Holdings Inc. | Sold out | 0.00% | −0.66 |
| HTHT H World Group Ltd.-ADR | Sold out | 0.00% | −0.46 |
| LEGN Legend Biotech Corp.-ADR | Reduce -9.8% | 6.74% | −0.35 |
| TCOM Trip.com Group Ltd.-ADR | Reduce -48.5% | 2.17% | −0.14 |
| ZK Zeekr Intelligent Techno-ADR | Sold out | 0.00% | −0.07 |
| URA Global X Uranium ETF | Sold out | 0.00% | −0.06 |
| KWEB Kranesh Csi China Internet | Sold out | 0.00% | −0.06 |
| META Meta Platforms Inc. Class A | Sold out | 0.00% | −0.05 |
| SOHU Sohu.com Ltd.-ADR | Reduce -28.4% | 0.23% | −0.01 |
| NBP Novabridge Biosciences | Reduce -13.4% | 0.18% | −0.01 |
| YSG Yatsen Holding Ltd.-ADR | Reduce -1.5% | 0.95% | +0.43 |
| VIPS Vipshop Holdings Ltd. - ADR | Reduce -5.3% | 6.94% | +1.51 |
Portfolio Buys Q3 2024 → Q4 2024
| WNS WNS Holdings Ltd. | New | 2.51% | +2.51 |
| BEKE Ke Holdings Inc.-ADR | Add +3.6% | 7.18% | +2.43 |
| FUTU Futu Holdings Ltd.-ADR | Add +6.4% | 3.10% | +0.89 |
| JD Jd.com Inc.-ADR | Add +5.6% | 2.03% | +0.62 |
| API Agora Inc.-ADR | New | 0.30% | +0.30 |
| TSM Taiwan Semiconductor-SP ADR | Add +119.6% | 0.29% | +0.22 |
| MSCI MSCI Inc. | New | 0.08% | +0.08 |
| MCO Moody's Corp. | Add +198.1% | 0.07% | +0.06 |
| DHR Danaher Corp. | Add +43.7% | 0.10% | +0.05 |
| GEV GE Vernova Inc. | Add +1.0% | 0.09% | +0.05 |
| GE General Electric | Add +80.8% | 0.06% | +0.04 |
| TT Trane Technologies PLC | Add +210.5% | 0.03% | +0.02 |
| MOMO Hello Group Inc. -SPN ADR | New | 0.01% | +0.01 |
| DADA Dada Nexus Ltd.-ADR | Add +16.7% | 0.03% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 35 | $832.1M | LEGN, FUTU, AVBP, MRVL, VIPS |
| Q1 2026 | 38 | $1.7B | PDD, BABA, ONC, FUTU, LEGN |
| Q4 2025 | 33 | $3.1B | PDD, BABA, ONC, FUTU, LEGN |
| Q3 2025 | 33 | $4.1B | PDD, BABA, FUTU, BULL, ONC |
| Q2 2025 | 36 | $3.1B | PDD, FUTU, BULL, ONC, NTES |
| Q1 2025 | 49 | $3.5B | PDD, BABA, FUTU, ONC, NTES |
| Q4 2024 | 45 | $2.9B | ONC, BABA, PDD, NTES, BEKE |
| Q3 2024 | 48 | $4.6B | ONC, BABA, PDD, LEGN, VIPS |
| Q2 2024 | 77 | $4.1B | PDD, ONC, BABA, BEKE, LEGN |
| Q1 2024 | 63 | $4.6B | PDD, ONC, BEKE, LEGN, MSFT |