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 Q2 2026 13F filing, HHLR Advisors (managing HHLR Advisors) reported a public portfolio value of $832.1M with 35 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 FUTU. The top recent sell was BEIGF.
Open interactive portfolioLatest 13F portfolio changes
HHLR Advisors holdings 13F summary: the latest HHLR Advisors portfolio changes show top holdings including LEGEND BIOTECH, FUTU HLDGS, ARRIVENT BIOPHARMA, MARVELL TECHNOLOGY, and VIPSHOP HLDGS, reported top buys such as FUTU HLDGS, VIPSHOP HLDGS, ALAMAR BIOSCIENCES, and ODYSSEY THERAPEUTICS, and top sells or reductions such as BEONE MEDICINES, MARVELL TECHNOLOGY, PDD, and CLEARWATER ANALYTICS HLDGS I.
Latest filing metadata: quarter Q2 2026; report date 2026-06-30; filing date 2026-08-14; disclosure source SEC 13F.
HHLR Advisors 13F portfolio and latest holdings overview
HHLR Advisors's Q2 2026 13F holdings show HHLR Advisors reporting 35 positions with a disclosed portfolio value of $832.1M. For readers searching HHLR Advisors 13F holdings, HHLR Advisors portfolio, HHLR Advisors holdings, or latest 13F changes, the latest top holdings include LEGEND BIOTECH, FUTU HLDGS, ARRIVENT BIOPHARMA, MARVELL TECHNOLOGY, and VIPSHOP HLDGS.
The three largest reported positions add up to roughly 57.1%, which helps readers judge portfolio concentration rather than just headline AUM. The largest reported sector exposure is Health Care at 41.7% 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 FUTU HLDGS, VIPSHOP HLDGS, ALAMAR BIOSCIENCES, ODYSSEY THERAPEUTICS, and NETEASE COM and reported reductions or exits such as BEONE MEDICINES, MARVELL TECHNOLOGY, PDD, CLEARWATER ANALYTICS HLDGS I, and KE HLDGS. Those changes should be read as historical disclosure signals, not as real-time trade alerts.
The filing metadata lists report date 2026-06-30, filing date 2026-08-14, SEC accession 0000919574-26-005568. 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 68.5% of disclosed value; the largest sector exposure is Health Care at 41.7%; reported buy and sell activity implies roughly 91.6% turnover this period; cost-basis P&L across 35 tracked positions averages 492.6% (14/24 currently in profit).
Top reported holdings
| Holding | Reported value | Weight | Quarter change |
|---|---|---|---|
| LEGN whale holders LEGEND BIOTECH CORP | $172.8M | 20.8% | Held |
| FUTU whale holders FUTU HLDGS LTD | $165.8M | 19.9% | Increased |
| AVBP whale holders ARRIVENT BIOPHARMA INC | $136.5M | 16.4% | Held |
| MRVL whale holders MARVELL TECHNOLOGY INC | $48.5M | 5.8% | Reduced |
| VIPS whale holders VIPSHOP HLDGS LTD | $46.0M | 5.5% | Increased |
| PDD whale holders PDD HOLDINGS INC | $38.1M | 4.6% | Reduced |
| BEKE whale holders KE HLDGS INC | $32.2M | 3.9% | Reduced |
| CTKB whale holders CYTEK BIOSCIENCES INC | $29.5M | 3.5% | Held |
| ALMR whale holders ALAMAR BIOSCIENCES INC | $25.9M | 3.1% | New |
| BABA whale holders ALIBABA GROUP HLDG LTD | $17.7M | 2.1% | Reduced |
Top buys
- FUTU whale holders — FUTU HLDGS LTD ($165.8M)
- VIPS whale holders — VIPSHOP HLDGS LTD ($46.0M)
- ALMR whale holders — ALAMAR BIOSCIENCES INC ($25.9M)
- ODTX whale holders — ODYSSEY THERAPEUTICS INC ($15.6M)
- NETTF whale holders — NETEASE COM INC ($4.5M)
- LITE whale holders — LUMENTUM HLDGS INC ($2.8M)
Top sells
- BEIGF whale holders — BEONE MEDICINES LTD ($307.2M)
- MRVL whale holders — MARVELL TECHNOLOGY INC ($48.5M)
- PDD whale holders — PDD HOLDINGS INC ($38.1M)
- CWAN whale holders — CLEARWATER ANALYTICS HLDGS I ($32.3M)
- BEKE whale holders — KE HLDGS INC ($32.2M)
- BABA whale holders — ALIBABA GROUP HLDG LTD ($17.7M)
Allocation
- Health Care: 41.7%
- Other: 41.5%
- Information Technology: 9.5%
- Consumer Discretionary: 6.7%
- Industrials: 0.5%
- Materials: 0.1%
Data notes
Report date: 2026-06-30
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 Q2 2026 13F profile for HHLR Advisors and HHLR Advisors shows 35 reported positions, $832.1M in disclosed portfolio value, and top holdings including LEGEND BIOTECH, FUTU HLDGS, ARRIVENT BIOPHARMA, MARVELL TECHNOLOGY, and VIPSHOP HLDGS.
What is HHLR Advisors buying? Latest 13F changes
The latest tracked change data for HHLR Advisors highlights reported buys such as FUTU HLDGS, VIPSHOP HLDGS, ALAMAR BIOSCIENCES, and ODYSSEY THERAPEUTICS and reported sells or reductions such as BEONE MEDICINES, MARVELL TECHNOLOGY, PDD, and CLEARWATER ANALYTICS HLDGS I.
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.