HHLR ADVISORS, LTD.tracked

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CIK 1762304

13F portfolio (2026-Q1)

$1.7B

Positions

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

Open in PORT →

As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

Top 5

80.3%

Top 10

94.2%

Effective N

6.4

HHI

0.155

This quarter

9 new · 0 exit →

By sector

Industrials44.0%

Health Care34.5%

Financials12.0%

Real Estate3.8%

Information Technology2.5%

Unclassified2.0%

Materials1.1%

Consumer Discretionary0.2%

Utilities0.0%

By market cap

Unknown70.9%

Mega (>$200B)18.7%

Small ($300M–2B)8.4%

Large ($10–200B)1.2%

Mid ($2–10B)0.4%

Micro (<$300M)0.4%

By region

Asia-Pacific59.6%

North America38.5%

Other2.0%

By industry group GICS — finer than sector

Industry group	Weight	Names
Commercial Services & Supplies	43.96%	4
Pharmaceuticals & Biotechnology	32.67%	9
Capital Markets	12.04%	2
Real Estate Management & Development	3.79%	1
Unclassified	1.97%	3
Life Sciences Tools & Services	1.81%	2
Semiconductors & Semiconductor Equipment	1.47%	4
Chemicals	0.90%	1
Software	0.66%	2
Metals & Mining	0.19%	3
Specialty Retail	0.17%	2
Electrical Equipment & Components	0.17%	1
Communications Equipment	0.06%	1
Technology Hardware & Equipment	0.06%	1
Utilities	0.04%	1
Software & IT Services	0.03%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	PDD	PDD Holdings Inc.	Industrials	25.44%
2	BABA	Alibaba Group Holding Ltd	Industrials	18.40%
3	ONC	BeOne Medicines Ltd.	Health Care	18.36%
4	FUTU	Futu Holdings Ltd	Financials	11.60%
5	LEGN	Legend Biotech Corp	Health Care	6.47%
6	AVBP	ArriVent BioPharma, Inc.	Health Care	5.42%
7	BEKE	Ke Holdings Inc.	Real Estate	3.79%
8		CLEARWATER ANALYTICS HLDGS I	Unclassified	1.93%
9	CTKB	Cytek Biosciences, Inc.	Health Care	1.74%
10	MRVL	Marvell Technology, Inc.	Information Technology	1.01%

35/38 names classified · sector 98.0% of weight · industry 98.0% · mkt cap 29.1%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 30 quarters

Health CareONC, LEGN, NBP, AVBP, ALGN · other

IndustrialsPDD, BABA, DASH, UBER, SE · other

Information TechnologyCRM, ZM, NTES, MSFT, BIDU · other

Consumer DiscretionaryJD, TAL, VIPS, HTHT, AMZN · other

Real Estate

Communication ServicesIQ, META, TME, NFLX, GOOG · other

FinancialsFUTU, BULL, AMG, ROOT, COIN · other

MaterialsONON, FCX, YSG, MP, EQX · other

Consumer StaplesMDLZ, KDP, DEO, DNUT, BYND

UtilitiesAXIA, CEG

UnclassifiedCHINA BIOLOGIC PRODS HLDGS I, ENSTAR GROUP LIMITED, FIBROGEN INC, BLUEPRINT MEDICINES CORP, NEW ORIENTAL ED & TECHNOLOGY · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 98.0% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Only 20% of book weight classified — the grid is NOT representative of the whole book.

holdings, colored by sector (7 classified)HHLR ADVISORS, LTD. centroid (Large Growth)

Health CareInformation TechnologyMaterials

Style box summary for HHLR ADVISORS, LTD.: centroid Large Growth. Heaviest cells: Large Growth 19.7%, Large Core 0.1%, Mid Core 0.1%.

Classified: 19.8% of book weight (7/38 names) · unclassified 80.2%: PDD, BABA, FUTU, LEGN, AVBP, BEKE, , CTKB, YSG, NBP +21 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 38 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	PDDPDD HOLDINGS INC	4,165,029	$426M	25.4%	TRIM −61%
2	BABAALIBABA GROUP HLDG LTD	2,453,657	$308M	18.4%	TRIM −55%
3	ONCBEONE MEDICINES LTD	1,034,306	$307M	18.4%	HOLD
4	FUTUFUTU HLDGS LTD	1,419,483	$194M	11.6%	TRIM −13%
5	LEGNLEGEND BIOTECH CORP	5,984,550	$108M	6.5%	HOLD
6	AVBPARRIVENT BIOPHARMA INC	3,929,117	$91M	5.4%	HOLD
7	BEKEKE HLDGS INC	4,236,278	$63M	3.8%	HOLD
8	CLEARWATER ANALYTICS HLDGS I	1,365,971	$32M	1.9%	HOLD
9	CTKBCYTEK BIOSCIENCES INC	6,657,030	$29M	1.7%	HOLD
10	MRVLMARVELL TECHNOLOGY INC	171,033	$17M	1.0%	NEW
11	YSGYATSEN HLDG LTD	4,885,873	$15M	0.9%	HOLD
12	NBPNOVABRIDGE BIOSCIENCES	5,980,568	$15M	0.9%	HOLD
13	MAZEMAZE THERAPEUTICS INC	366,028	$11M	0.7%	TRIM −20%
14	CTNMCONTINEUM THERAPEUTICS INC	669,337	$9M	0.5%	HOLD
15	APIAGORA INC	2,098,553	$7M	0.4%	HOLD
16	BULLWEBULL CORP	1,500,000	$7M	0.4%	TRIM −75%
17	TSMTAIWAN SEMICONDUCTOR MFG LTD	15,520	$5M	0.3%	ADD 37%
18	SGMTSAGIMET BIOSCIENCES INC	724,800	$4M	0.2%	HOLD
19	TUYATUYA INC	1,564,400	$4M	0.2%	HOLD
20	GEGE AEROSPACE	10,043	$3M	0.2%	HOLD
21	VIPSVIPSHOP HLDGS LTD	124,700	$2M	0.1%	NEW
22	MOGUMOGU INC	847,510	$2M	0.1%	HOLD
23	GOSSGOSSAMER BIO INC	4,974,041	$2M	0.1%	HOLD
24	INTCINTEL CORP	28,970	$1M	0.1%	NEW
25	PACBPACIFIC BIOSCIENCES CALIF IN	918,892	$1M	0.1%	HOLD
26	EQXEQUINOX GOLD CORP	80,500	$1M	0.1%	HOLD
27	NVDANVIDIA CORPORATION	6,610	$1M	0.1%	NEW
28	LITELUMENTUM HLDGS INC	1,500	$1M	0.1%	NEW
29	GLWCORNING INC	7,700	$1M	0.1%	NEW
30	BBARRICK MNG CORP	25,400	$1M	0.1%	HOLD
31	COHRCOHERENT CORP	4,275	$1M	0.1%	NEW
32	DDLDINGDONG CAYMAN LTD	354,500	$911,065	0.1%	NEW
33	AXIACENTRAIS ELET BRAS SA	63,100	$711,768	0.0%	TRIM −35%
34	EWWISHARES INC MSCI MEXICO ETF	8,800	$662,024	0.0%	NEW
35	ALGSALIGOS THERAPEUTICS INC	76,247	$566,515	0.0%	HOLD
36	VNETVNET GROUP INC	65,100	$546,189	0.0%	ADD 23%
37	UXINUXIN LTD	19,156	$58,809	0.0%	HOLD
38	RDGTRIDGETECH INC	20,167	$657	0.0%	HOLD

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

PDDPDD HOLDINGS INC

2.7M

6.6M

7.0M

8.6M

10.7M

4.2M

$426M

BABAALIBABA GROUP HLDG LTD

4.9M

3.9M

1.1M

3.3M

5.4M

2.5M

$308M

ONCBEONE MEDICINES LTD

3.8M

1.0M

$307M

FUTUFUTU HLDGS LTD

1.1M

4.3M

3.2M

1.6M

1.4M

$194M

LEGNLEGEND BIOTECH CORP

6.0M

$108M

AVBPARRIVENT BIOPHARMA INC

4.5M

3.9M

$91M

BEKEKE HLDGS INC

11.3M

12.0M

7.5M

4.2M

$63M

CLEARWATER ANALYTICS HLDGS I

—

1.4M

$32M

CTKBCYTEK BIOSCIENCES INC

6.7M

$29M

MRVLMARVELL TECHNOLOGY INC

—

171K

$17M

YSGYATSEN HLDG LTD

6.9M

6.1M

4.9M

$15M

NBPNOVABRIDGE BIOSCIENCES

6.0M

$15M

MAZEMAZE THERAPEUTICS INC

—

458K

366K

$11M

CTNMCONTINEUM THERAPEUTICS INC

669K

$9M

APIAGORA INC

2.1M

$7M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

☆HHLR ADVISORS, LTD.tracked