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Built from publicly disclosed institutional and insider activity. Informational purposes only - not investment advice.OpenStocks · v0.1
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  3. Hillhouse (HHLR Advisors)
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Hedge Fund · CIK 0001762304

Hillhouse

HHLR Advisors
Share
  • Consumer-Focused
  • Highly Concentrated
  • Mid-Size Fund

Hillhouse runs HHLR Advisors, a hedge fund overseeing $3.10B in disclosed equity holdings (SEC CIK 0001762304). The latest portfolio (2025Q4) discloses 33 positions across 10 sectors, with the largest positions in PDD, BABA and ONC. On a mark-to-market basis the tracked portfolio has returned 48.9% over the past year. OpenStocks tracks 29 consecutive quarterly snapshots for this manager — every position change, new entry, and exit is logged below.

Track Hillhouse's filingsView holdings↓
Portfolio
$3.10B
Positions
33
Quarter
2025Q4
Filings tracked
29
1Y+48.9%Since filing+68.8%Full performance →
Quarter
2025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q1
1-YearTWR
+48.94%
since 2024Q4
3-Year
—
insufficient history
5-Year
—
insufficient history
10-Year
—
insufficient history

Performance overview

We mark Hillhouse (HHLR Advisors)'s disclosed portfolio to current market prices and compare its growth against the S&P 500 (SPY). Hillhouse’s portfolio is 48.9% over the last 12 months · 68.8% since 2018Q4.

Portfolio growth vs SPY
Rebased to 100 at 2021Q2 · through 2025Q4
Hillhouse
+53.4%
SPY
+69.5%
Alpha
-16.2pp
45811161521872021Q22023Q32025Q4
Portfolio line is the GIPS-compliant time-weighted return chain-linked across the manager's quarterly 13F filings — unaffected by capital flows. Quarters with insufficient held-through coverage are skipped, which can briefly flatten the line.
Capital flow per quarter
BuysSellsNet
+$3.18B+$1.59B$0-$1.59B-$3.18B'19Q3'19Q4'20Q1'20Q2'20Q3'20Q4'21Q1'21Q2'21Q3'21Q4'22Q1'22Q2'22Q3'22Q4'23Q1'23Q2
Latest · 2023Q2
-$591M
Lifetime buys
$17.78B
Lifetime sells
$21.09B
Portfolio over time
AUMPositions
$0$4.36B$8.71B$13.20B9554'19Q3'21Q2'23Q2
QoQ AUM
-16.7%
16Q lifetime AUM
-35.4%
QoQ positions
-10
16Q lifetime positions
-4
Position concentration
60 positions
Top 1
20%
of book
  • Top 120%$923.0MONC
  • Top 2-539%$1.81BPDD, BEKE, LEGN
  • Top 6-1020%$952.1MMSFT, CRM, DASH
  • Top 11-2013%$632.8MJD, DQ, BIDU
  • Rest8%$374.7MRest of port