13F tracker › HHLR Advisors (Hillhouse)
HHLR Advisors (Hillhouse) 13F holdings, Q2 2026
HHLR Advisors (Hillhouse) (investment firm founded by Zhang Lei) reported 35 US-listed positions worth $832.1M in its
Form 13F for the quarter ended June 30, 2026, filed with the SEC on August 14, 2026.
Compared with Q1 2026, the filing shows 6 new positions, 6 increased, 6 reduced, and 9 exited.
Reported value$832.1M
Positions35
New / exited6 / 9
Quarter endedQ2 2026
Largest holdings
| Company | Value | Weight | Shares |
|---|
| Legend Biotech Corp | $172.8M | 20.8% | 5,984,550 |
| Futu Hldgs Ltd | $165.8M | 19.9% | 1,768,283 |
| Arrivent Biopharma Inc | $136.5M | 16.4% | 3,929,117 |
| Marvell Technology Inc | $48.5M | 5.8% | 162,933 |
| Vipshop Hldgs Ltd | $46.0M | 5.5% | 3,470,400 |
| Pdd Holdings Inc | $38.1M | 4.6% | 500,000 |
| Ke Hldgs Inc | $32.2M | 3.9% | 2,218,377 |
| Cytek Biosciences Inc | $29.5M | 3.5% | 6,657,030 |
| Alamar Biosciences Inc | $25.9M | 3.1% | 956,462 |
| Alibaba Group Hldg Ltd | $17.7M | 2.1% | 183,934 |
| Odyssey Therapeutics Inc | $15.6M | 1.9% | 831,656 |
| Yatsen Hldg Ltd | $15.5M | 1.9% | 4,885,873 |
| Novabridge Biosciences | $11.7M | 1.4% | 5,980,568 |
| Contineum Therapeutics Inc | $11.0M | 1.3% | 669,337 |
| Maze Therapeutics Inc | $10.9M | 1.3% | 366,028 |
| Agora Inc | $8.4M | 1.0% | 2,098,553 |
| Taiwan Semiconductor Manufac | $7.4M | 0.9% | 15,510 |
| Sagimet Biosciences Inc | $5.6M | 0.7% | 724,800 |
| Netease Com Inc | $4.5M | 0.5% | 34,999 |
| Ge Aerospace | $3.8M | 0.5% | 10,043 |
| Lumentum Hldgs Inc | $2.8M | 0.3% | 3,300 |
| Nvidia Corporation | $2.8M | 0.3% | 14,054 |
| Tuya Inc | $2.8M | 0.3% | 1,564,400 |
| Corning Inc | $2.6M | 0.3% | 10,266 |
| Coherent Corp | $2.5M | 0.3% | 6,417 |
New positions in Q2 2026
| Company | Value | Shares |
| Alamar Biosciences Inc | $25.9M | 956,462 |
| Odyssey Therapeutics Inc | $15.6M | 831,656 |
| Netease Com Inc | $4.5M | 34,999 |
| Texas Instrs Inc | $1.4M | 4,800 |
| Zoom Communications Inc | $777,653 | 9,010 |
| Ridgetech Inc | $204 | 136 |
Positions increased
| Company | Value | Share change | Shares |
| Futu Hldgs Ltd | $165.8M | +25% | 1,768,283 |
| Vipshop Hldgs Ltd | $46.0M | +2683% | 3,470,400 |
| Lumentum Hldgs Inc | $2.8M | +120% | 3,300 |
| Nvidia Corporation | $2.8M | +113% | 14,054 |
| Corning Inc | $2.6M | +33% | 10,266 |
| Coherent Corp | $2.5M | +50% | 6,417 |
Positions reduced
| Company | Value | Share change | Shares |
| Marvell Technology Inc | $48.5M | -5% | 162,933 |
| Pdd Holdings Inc | $38.1M | -88% | 500,000 |
| Ke Hldgs Inc | $32.2M | -48% | 2,218,377 |
| Alibaba Group Hldg Ltd | $17.7M | -93% | 183,934 |
| Webull Corp | $2.0M | -79% | 309,857 |
| Intel Corp | $2.0M | -51% | 14,300 |
Positions exited (held in Q1 2026)
| Company | Value in Q1 2026 | Shares |
| Beone Medicines Ltd | $307.2M | 1,034,306 |
| Clearwater Analytics Hldgs I | $32.3M | 1,365,971 |
| Barrick Mng Corp | $1.0M | 25,400 |
| Dingdong Cayman Ltd | $911,065 | 354,500 |
| Centrais Elet Bras Sa | $711,768 | 63,100 |
| Ishares Inc | $662,024 | 8,800 |
| Vnet Group Inc | $546,189 | 65,100 |
| Uxin Ltd | $58,809 | 19,156 |
| Ridgetech Inc | $657 | 20,167 |
How to read this. A Form 13F lists long positions in US-listed securities at
quarter-end. It is filed up to 45 days later and does not show short positions, most derivatives, non-US holdings, cash, or
trades made after the quarter ended, so it is a historical snapshot—not a current portfolio. Values are as reported in the
filing. This page is not investment advice and does not suggest buying or selling any security.
Source: SEC EDGAR filing (Q2 2026), previous filing (Q1 2026). Updated 2026-11-11.
