HHLR Advisors, LTD.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), HHLR Advisors, LTD. reported 38 stock positions worth $1.7 billion. Its top holding was PDD (PDD) at 25.4% of the portfolio, followed by Alibaba Group Holding-SP ADR (BABA, 18.4%) and Beone Medicines Ltd.-ADR (ONC, 18.4%). Compared with Q4 2025, it opened 9 new positions, sold out of 4, added to 2 and reduced 6. The biggest buy was a new position in Marvell Technology (MRVL) and the biggest sale PDD (PDD, shares −61%).
- Most Recent 13F
- Q2 2026
- Location
- GRAND CAYMAN, E9
- CIK
- 0001762304
- Portfolio Value
- $1.7B (Q1 2026)
- SEC Filing
- 0000919574-26-003551 ↗ filed May 15, 2026
Holdings Value
Holdings 38 stocks · $1.7B
| PDD PDD Holdings Inc. | 25.44% | 4,165,029 | $425.6M | Reduce -61.1% |
| BABA Alibaba Group Holding-SP ADR | 18.40% | 2,453,657 | $307.8M | Reduce -54.8% |
| ONC Beone Medicines Ltd.-ADR | 18.36% | 1,034,306 | $307.2M | No change |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 11.60% | 1,419,483 | $194.1M | Reduce -12.9% |
| LEGN Legend Biotech Corp.-ADR | 6.47% | 5,984,550 | $108.3M | No change |
| AVBP Arrivent Biopharma Inc. | 5.42% | 3,929,117 | $90.6M | No change |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 3.79% | 4,236,278 | $63.4M | No change |
| CWAN Clearwater Analytics HDS-A | 1.93% | 1,365,971 | $32.3M | No change |
| CTKB Cytek Biosciences Inc. | 1.74% | 6,657,030 | $29.1M | No change |
| MRVL Marvell Technology Inc. | 1.01% | 171,033 | $16.9M | New |
| YSG Yatsen Holding Ltd.-ADR | 0.90% | 4,885,873 | $15.0M | No change |
| NBP Novabridge Biosciences | 0.88% | 5,980,568 | $14.7M | No change |
| MAZE Maze Therapeutics Inc. | 0.65% | 366,028 | $10.9M | Reduce -20.0% |
| CTNM Contineum Therapeutics Inc. Class A | 0.52% | 669,337 | $8.7M | No change |
| API Agora Inc.-ADR | 0.44% | 2,098,553 | $7.4M | No change |
| BULL Webull Corp. | 0.43% | 1,500,000 | $7.2M | Reduce -74.9% |
| TSM Taiwan Semiconductor-SP ADR | 0.31% | 15,520 | $5.2M | Add +37.4% |
| SGMT Sagimet Biosciences Inc. Class A | 0.23% | 724,800 | $3.8M | No change |
| TUYA Tuya Inc. | 0.22% | 1,564,400 | $3.6M | No change |
| GE General Electric filed as GE AEROSPACE | 0.17% | 10,043 | $2.8M | No change |
| VIPS Vipshop Holdings Ltd. - ADR | 0.12% | 124,700 | $2.0M | New |
| MOGU Mogu Inc.-ADR | 0.11% | 847,510 | $1.9M | No change |
| GOSS Gossamer Bio Inc. | 0.10% | 4,974,041 | $1.6M | No change |
| INTC Intel Corp. | 0.08% | 28,970 | $1.3M | New |
| PACB Pacific Biosciences of Calif | 0.07% | 918,892 | $1.2M | No change |
| EQX Equinox Gold Corp. | 0.07% | 80,500 | $1.2M | No change |
| NVDA Nvidia Corp. | 0.07% | 6,610 | $1.2M | New |
| LITE Lumentum Holdings Inc. | 0.06% | 1,500 | $1.1M | New |
| GLW Corning Inc. | 0.06% | 7,700 | $1.0M | New |
| B Barrick Mining Corp. | 0.06% | 25,400 | $1.0M | No change |
| COHR Coherent Corp. | 0.06% | 4,275 | $1.0M | New |
| DDL Dingdong Cayman Ltd. -SPN ADR | 0.05% | 354,500 | $911K | New |
| AXIAY Axia Energia-ADR filed as CENTRAIS ELET BRAS SA | 0.04% | 63,100 | $712K | Reduce -34.7% |
| EWW iShares MSCI Mexico ETF | 0.04% | 8,800 | $662K | New |
| ALGS Aligos Therapeutics Inc. | 0.03% | 76,247 | $567K | No change |
| VNET Vnet Group Inc.-ADR | 0.03% | 65,100 | $546K | Add +22.6% |
| UXIN Uxin Ltd. - ADR | 0.00% | 19,156 | $59K | No change |
| RDGT Ridgetech Inc. | 0.00% | 20,167 | $657 | No change |
Portfolio Sells Q4 2025 → Q1 2026
| PDD PDD Holdings Inc. | Reduce -61.1% | 25.44% | −13.73 |
| BABA Alibaba Group Holding-SP ADR | Reduce -54.8% | 18.40% | −7.24 |
| BULL Webull Corp. | Reduce -74.9% | 0.43% | −1.07 |
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −0.07 |
| IBIT iShares Bitcoin Trust ETF | Sold out | 0.00% | −0.06 |
| MCO Moody's Corp. | Sold out | 0.00% | −0.05 |
| AXICY Axia Energia-ADR Pref C | Sold out | 0.00% | −0.01 |
| AXIAY Axia Energia-ADR | Reduce -34.7% | 0.04% | +0.01 |
| MAZE Maze Therapeutics Inc. | Reduce -20.0% | 0.65% | +0.04 |
| FUTU Futu Holdings Ltd.-ADR | Reduce -12.9% | 11.60% | +2.98 |
Portfolio Buys Q4 2025 → Q1 2026
| MRVL Marvell Technology Inc. | New | 1.01% | +1.01 |
| TSM Taiwan Semiconductor-SP ADR | Add +37.4% | 0.31% | +0.20 |
| VIPS Vipshop Holdings Ltd. - ADR | New | 0.12% | +0.12 |
| INTC Intel Corp. | New | 0.08% | +0.08 |
| NVDA Nvidia Corp. | New | 0.07% | +0.07 |
| LITE Lumentum Holdings Inc. | New | 0.06% | +0.06 |
| GLW Corning Inc. | New | 0.06% | +0.06 |
| COHR Coherent Corp. | New | 0.06% | +0.06 |
| DDL Dingdong Cayman Ltd. -SPN ADR | New | 0.05% | +0.05 |
| EWW iShares MSCI Mexico ETF | New | 0.04% | +0.04 |
| VNET Vnet Group Inc.-ADR | Add +22.6% | 0.03% | +0.02 |
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 |