Hillhouse Capital (HHLR Advisors) Portfolio
Hillhouse Capital (HHLR Advisors) is managed by Zhang Lei; 13F filer (CIK 0001762304).
Q2 2023 · 58 positions · Total reported value $4.66B · Top-10 concentration 79.1%
Turnover: 46.5% · 5 new · 7 cut · 8 exited
In its Q2 2023 13F filing, Hillhouse Capital (HHLR Advisors) disclosed 58 equity positions with a combined reported value of $4.66B. The filing implies a focused portfolio: its ten largest positions account for 79.1% of reported value. HoldingsHub classifies the profile as Mid / Focused / High Turnover.
The largest disclosed positions as of Q2 2023 were ONC ($923.04M), PDD ($565.03M), BEKE ($531.97M). By sector, the heaviest allocations are Health Care 32.1%, Consumer Discretionary 30.5%. Versus the prior quarter, allocation shifted toward Technology (+5.0pp), Health Care (+3.5pp) and away from Materials (-4.6pp), Consumer Discretionary (-5.9pp).
Versus the prior quarter, Hillhouse Capital (HHLR Advisors) opened 5 new positions, trimmed 7 and fully exited 8, a turnover rate of 46.5% of positions. The portfolio's overlap with the prior quarter was 62% of names.
Figures come from the fund's SEC Form 13F filing. 13F reports are filed within 45 days of quarter end and cover long positions of $100,000 or more; they exclude short positions and non-13F asset classes, so treat this page as a quarter-end snapshot rather than the fund's live book.
Sector Allocation
| # | Symbol | Company | Shares | Value | Weight | Change |
|---|---|---|---|---|---|---|
| 1 | ONC | BEONE MEDICINES LTD | 5.18M | $923.04M | 19.81% | Reduce |
| 2 | PDD | PDD HOLDINGS INC | 8.17M | $565.03M | 12.12% | Reduce |
| 3 | BEKE | KE HLDGS INC | 35.82M | $531.97M | 11.41% | Add |
| 4 | LEGN | LEGEND BIOTECH CORP | 6.44M | $444.31M | 9.53% | Add |
| 5 | BABA | ALIBABA GROUP HLDG LTD | 3.26M | $271.93M | 5.83% | Reduce |
| 6 | MSFT | MICROSOFT CORP | 759.30K | $258.57M | 5.55% | Add |
| 7 | CRM | SALESFORCE INC | 1.07M | $226.58M | 4.86% | Reduce |
| 8 | DASH | DOORDASH INC | 2.67M | $203.79M | 4.37% | Reduce |
| 9 | HTHT | H WORLD GROUP LTD | 3.81M | $147.92M | 3.17% | Add |
| 10 | TTWO | TAKE-TWO INTERACTIVE SOFTWAR | 783.00K | $115.23M | 2.47% | New |
| 11 | JD | JD.COM INC | 2.70M | $92.29M | 1.98% | Add |
| 12 | DQ | DAQO NEW ENERGY CORP | 2.04M | $80.87M | 1.74% | Hold |
| 13 | BIDU | BAIDU INC | 553.35K | $75.76M | 1.63% | Add |
| 14 | ONON | ON HLDG AG | 2.12M | $69.84M | 1.50% | Reduce |
| 15 | ZTO | ZTO EXPRESS CAYMAN INC | 2.50M | $62.64M | 1.34% | Add |
| 16 | CTKB | CYTEK BIOSCIENCES INC | 6.66M | $56.85M | 1.22% | Reduce |
| 17 | ENFN | ENFUSION INC | 4.98M | $55.82M | 1.20% | Hold |
| 18 | BBIO | BRIDGEBIO PHARMA INC | 2.99M | $51.49M | 1.10% | Reduce |
| 19 | CPNG | COUPANG INC | 2.82M | $49.03M | 1.05% | Reduce |
| 20 | MDLZ | MONDELEZ INTL INC | 523.79K | $38.21M | 0.82% | Reduce |
| 21 | YMM | FULL TRUCK ALLIANCE CO LTD | 5.23M | $32.51M | 0.70% | Reduce |
| 22 | TMO | THERMO FISHER SCIENTIFIC INC | 41.45K | $21.63M | 0.46% | Add |
| 23 | DDOG | DATADOG INC | 218.10K | $21.46M | 0.46% | Hold |
| 24 | NBP | I MAB | 6.91M | $20.66M | 0.44% | Reduce |
| 25 | DHR | DANAHER CORP DEL | 85.50K | $20.52M | 0.44% | New |
| 26 | BMRN | BIOMARIN PHARMACEUTICAL INC | 228.94K | $19.84M | 0.43% | Reduce |
| 27 | EXAS | EXACT SCIENCES CORP | 197.89K | $18.58M | 0.40% | Add |
| 28 | KDP | KEURIG DR PEPPER INC | 564.57K | $17.65M | 0.38% | New |
| 29 | FUTU | FUTU HLDGS LTD | 417.19K | $16.58M | 0.36% | Hold |
| 30 | NTES | NETEASE INC | 149.70K | $14.47M | 0.31% | Hold |
| 31 | ADBE | ADOBE INC | 27.00K | $13.20M | 0.28% | New |
| 32 | AKRO | AKERO THERAPEUTICS INC | 273.00K | $12.75M | 0.27% | Reduce |
| 33 | GOOG | ALPHABET INC | 100.00K | $12.10M | 0.26% | New |
| 34 | ATAT | ATOUR LIFESTYLE HLDGS LTD | 661.52K | $10.74M | 0.23% | Add |
| 35 | KNSA | KINIKSA PHARMACEUTICALS INTL | 698.74K | $9.84M | 0.21% | Reduce |
| 36 | SOHU | SOHU COM LTD | 731.80K | $8.06M | 0.17% | Hold |
| 37 | ARGX | ARGENX SE | 18.66K | $7.27M | 0.16% | New |
| 38 | AXSM | AXSOME THERAPEUTICS INC. | 100.00K | $7.19M | 0.15% | New |
| 39 | COIN | COINBASE GLOBAL INC | 100.00K | $7.16M | 0.15% | New |
| 40 | LI | LI AUTO INC | 170.70K | $5.99M | 0.13% | Reduce |
| 41 | GOSS | GOSSAMER BIO INC | 4.97M | $5.97M | 0.13% | Hold |
| 42 | ROIV | ROIVANT SCIENCES LTD | 523.46K | $5.28M | 0.11% | New |
| 43 | AMD | ADVANCED MICRO DEVICES INC | 40.50K | $4.61M | 0.10% | Reduce |
| 44 | EM | SMART SH GLOBAL LTD | 3.95M | $3.85M | 0.08% | Reduce |
| 45 | VIPS | VIPSHOP HLDGS LTD | 198.60K | $3.28M | 0.07% | Reduce |
| 46 | AMZN | AMAZON COM INC | 24.30K | $3.17M | 0.07% | Reduce |
| 47 | TUYA | TUYA INC | 1.60M | $3.02M | 0.07% | Hold |
| 48 | ALGS | ALIGOS THERAPEUTICS INC | 2.31M | $2.24M | 0.05% | Hold |
| 49 | MOGU | MOGU INC | 847.51K | $2.03M | 0.04% | Hold |
| 50 | BZ | KANZHUN LIMITED | 123.00K | $1.85M | 0.04% | Reduce |