HHLR Advisors Holdings 13F: Latest Portfolio Changes
HHLR Advisors. China's top PE/VC investor. Zhang Lei is the founder of Hillhouse Capital, known for his early and massive investments in Tencent and JD.com. He advocates for long-term 'be a friend of time' value investing in Asia.
As of the latest Q1 2026 13F filing, HHLR Advisors (managing HHLR Advisors) reported a public portfolio value of $1.7B with 38 positions. This page tracks latest holdings, latest 13F changes, top buys, top sells, and top holdings from the public filing. The top recent buy was MRVL. The top recent sell was PDD.
Open interactive portfolioLatest 13F portfolio changes
HHLR Advisors holdings 13F summary: the latest HHLR Advisors portfolio changes show top holdings including PDD, Alibaba, BEONE MEDICINES, FUTU HLDGS, and LEGEND BIOTECH, reported top buys such as MARVELL TECHNOLOGY, TSMC, VIPSHOP HLDGS, and INTEL, and top sells or reductions such as PDD, Alibaba, FUTU HLDGS, and MAZE THERAPEUTICS.
Latest filing metadata: quarter Q1 2026; report date 2026-03-31; filing date 2026-05-15; disclosure source SEC 13F.
HHLR Advisors 13F portfolio and latest holdings overview
HHLR Advisors's Q1 2026 13F holdings show HHLR Advisors reporting 38 positions with a disclosed portfolio value of $1.7B. For readers searching HHLR Advisors 13F holdings, HHLR Advisors portfolio, HHLR Advisors holdings, or latest 13F changes, the latest top holdings include PDD, Alibaba, BEONE MEDICINES, FUTU HLDGS, and LEGEND BIOTECH.
The three largest reported positions add up to roughly 62.2%, which helps readers judge portfolio concentration rather than just headline AUM. The largest reported sector exposure is Consumer Discretionary at 43.8% of the disclosed portfolio. This makes the page useful for comparing the manager's actual disclosed exposure with market narratives around the same names.
The latest change data highlights reported buys such as MARVELL TECHNOLOGY, TSMC, VIPSHOP HLDGS, INTEL, and NVIDIA and reported reductions or exits such as PDD, Alibaba, FUTU HLDGS, MAZE THERAPEUTICS, and WEBULL. Those changes should be read as historical disclosure signals, not as real-time trade alerts.
The filing metadata lists report date 2026-03-31, filing date 2026-05-15, SEC accession 0000919574-26-003551. SEC 13F reports are normally published up to 45 days after quarter end, so the data is best used to understand institutional positioning after the fact rather than to infer today's exact portfolio.
HHLR Advisors portfolio analytics
the top five positions account for 80.3% of disclosed value; the largest sector exposure is Consumer Discretionary at 43.8%; reported buy and sell activity implies roughly 58.8% turnover this period; cost-basis P&L across 38 tracked positions averages 323.2% (17/30 currently in profit).
Top reported holdings
| Holding | Reported value | Weight | Quarter change |
|---|---|---|---|
| PDD whale holders PDD HOLDINGS INC | $425.6M | 25.4% | Reduced |
| BABA whale holders ALIBABA GROUP HLDG LTD | $307.8M | 18.4% | Reduced |
| BEIGF whale holders BEONE MEDICINES LTD | $307.2M | 18.4% | Held |
| FUTU whale holders FUTU HLDGS LTD | $194.1M | 11.6% | Reduced |
| LEGN whale holders LEGEND BIOTECH CORP | $108.3M | 6.5% | Held |
| AVBP whale holders ARRIVENT BIOPHARMA INC | $90.6M | 5.4% | Held |
| BEKE whale holders KE HLDGS INC | $63.4M | 3.8% | Held |
| CWAN whale holders CLEARWATER ANALYTICS HLDGS I | $32.3M | 1.9% | Held |
| CTKB whale holders CYTEK BIOSCIENCES INC | $29.1M | 1.7% | Held |
| MRVL whale holders MARVELL TECHNOLOGY INC | $16.9M | 1.0% | New |
Top buys
- MRVL whale holders — MARVELL TECHNOLOGY INC ($16.9M)
- TSMWF whale holders — TAIWAN SEMICONDUCTOR MANUFAC ($5.2M)
- VIPS whale holders — VIPSHOP HLDGS LTD ($2.0M)
- INTC whale holders — INTEL CORP ($1.3M)
- NVDA whale holders — NVIDIA CORPORATION ($1.2M)
- LITE whale holders — LUMENTUM HLDGS INC ($1.1M)
Top sells
- PDD whale holders — PDD HOLDINGS INC ($425.6M)
- BABA whale holders — ALIBABA GROUP HLDG LTD ($307.8M)
- FUTU whale holders — FUTU HLDGS LTD ($194.1M)
- MAZE whale holders — MAZE THERAPEUTICS INC ($10.9M)
- BULLW whale holders — WEBULL CORP ($7.2M)
- GOOGL whale holders — ALPHABET INC ($2.3M)
Allocation
- Consumer Discretionary: 43.8%
- Health Care: 31.4%
- Other: 21.4%
- Information Technology: 2.1%
- Industrials: 1.1%
- Materials: 0.1%
Data notes
Report date: 2026-03-31
Disclosure source: SEC 13F
SEC 13F filings are delayed public disclosures and do not include every asset class, short positions, or real-time trades.
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Frequently asked questions
HHLR Advisors 13F Holdings
The Q1 2026 13F profile for HHLR Advisors and HHLR Advisors shows 38 reported positions, $1.7B in disclosed portfolio value, and top holdings including PDD, Alibaba, BEONE MEDICINES, FUTU HLDGS, and LEGEND BIOTECH.
What is HHLR Advisors buying? Latest 13F changes
The latest tracked change data for HHLR Advisors highlights reported buys such as MARVELL TECHNOLOGY, TSMC, VIPSHOP HLDGS, and INTEL and reported sells or reductions such as PDD, Alibaba, FUTU HLDGS, and MAZE THERAPEUTICS.
HHLR Advisors top holdings
HHLR Advisors top holdings are summarized from public disclosures with reported values, weights, portfolio concentration, top buys, top sells, and filing metadata where available.
HHLR Advisors buys and sells
Use the top buys and top sells sections above to compare HHLR Advisors's reported additions, reductions, exits, and latest portfolio activity against other tracked investors.
How delayed is HHLR Advisors's 13F data?
SEC Form 13F requires institutional investment managers with $100M+ in US equities to disclose their holdings quarterly. Read our comprehensive 13F guide for timing, coverage, and limitations. Read the Whale Analyzer 13F guide.