Skip to content
Disclosery

HHLR ADVISORS, LTD.

Follow

13F filer, CIK 1762304, GRAND CAYMAN, Cayman Islands

HHLR ADVISORS, LTD. reported $4,090,754,764 across 33 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 93.46% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000902664-25-004996

Period
2025-09-30
Reported value
$4.09B
Holdings
33
Top 10 weight
93.46%
New
5
Sold out
8

Part of the filer group HHLR ADVISORS, LTD.

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BABAadded+2,139,966$382M
BIDUnew+1,641,000$216M
PDDadded+1,615,796$214M
YMMnew+4,066,553$52.7M
SEnew+180,050$32.2M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
FUTUreduced-1,074,058-$187M
NTESreduced-872,861-$133M
WNS HLDGS LTD COM SHSexited-1,531,466-$96.8M
JDexited-2,275,500-$74.3M
BEKEreduced-3,229,187-$61.4M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0000902664-25-004996, largest first. % of portfolio is the value over $4,090,754,764, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
PDDPDD HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,766,780 shares; 2024Q4: 2,730,275 shares; 2025Q1: 6,562,576 shares; 2025Q2: 6,976,804 shares; 2025Q3: 8,592,600 shares 8,592,600$1.14B27.76%+1,615,796Timeline
BABAALIBABA GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,827,600 shares; 2024Q4: 4,887,300 shares; 2025Q1: 3,907,755 shares; 2025Q2: 1,149,700 shares; 2025Q3: 3,289,666 shares 3,289,666$588M14.37%+2,139,966Timeline
FUTUFUTU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,051,089 shares; 2024Q4: 1,118,303 shares; 2025Q1: 4,307,492 shares; 2025Q2: 4,312,237 shares; 2025Q3: 3,238,179 shares 3,238,179$563M13.77%-1,074,058Timeline
BULLWEBULL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 33,080,846 shares; 2025Q3: 33,080,846 shares 33,080,846$489M11.96%0Timeline
ONCBEONE MEDICINES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,176,906 shares; 2024Q4: 3,804,406 shares; 2025Q1: 1,034,306 shares; 2025Q2: 1,034,306 shares; 2025Q3: 1,034,306 shares 1,034,306$352M8.61%0Timeline
BIDUBAIDU INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 300,000 shares; 2024Q4: not reported; 2025Q1: 170,000 shares; 2025Q2: not reported; 2025Q3: 1,641,000 shares 1,641,000$216M5.29%newTimeline
LEGNLEGEND BIOTECH CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,636,496 shares; 2024Q4: 5,984,550 shares; 2025Q1: 5,984,550 shares; 2025Q2: 5,984,550 shares; 2025Q3: 5,984,550 shares 5,984,550$195M4.77%0Timeline
NTESNETEASE COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,588,943 shares; 2024Q4: 2,588,943 shares; 2025Q1: 2,668,697 shares; 2025Q2: 1,663,668 shares; 2025Q3: 790,807 shares 790,807$120M2.94%-872,861Timeline
AVBPARRIVENT BIOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,484,672 shares; 2024Q4: 4,484,672 shares; 2025Q1: 4,484,672 shares; 2025Q2: 4,484,672 shares; 2025Q3: 4,484,672 shares 4,484,672$82.7M2.02%0Timeline
BEKEKE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,868,688 shares; 2024Q4: 11,261,276 shares; 2025Q1: 11,973,402 shares; 2025Q2: 7,465,465 shares; 2025Q3: 4,236,278 shares 4,236,278$80.5M1.97%-3,229,187Timeline
YMMFULL TRUCK ALLIANCE CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 4,066,553 shares 4,066,553$52.7M1.29%newTimeline
YSGYATSEN HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,987,839 shares; 2024Q4: 6,885,873 shares; 2025Q1: 6,885,873 shares; 2025Q2: 6,111,933 shares; 2025Q3: 4,885,873 shares 4,885,873$44.3M1.08%-1,226,060Timeline
SESEA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 180,050 shares 180,050$32.2M0.79%newTimeline
CWANCLEARWATER ANALYTICS HLDGS IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,365,971 shares; 2025Q3: 1,365,971 shares 1,365,971$24.6M0.6%0Timeline
CTKBCYTEK BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,657,030 shares; 2024Q4: 6,657,030 shares; 2025Q1: 6,657,030 shares; 2025Q2: 6,657,030 shares; 2025Q3: 6,657,030 shares 6,657,030$23.1M0.56%0Timeline
NBPNOVABRIDGE BIOSCIENCESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,909,220 shares; 2024Q4: 5,980,568 shares; 2025Q1: 5,980,568 shares; 2025Q2: 5,980,568 shares; 2025Q3: 5,980,568 shares 5,980,568$22.6M0.55%0Timeline
GOSSGOSSAMER BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,974,041 shares; 2024Q4: 4,974,041 shares; 2025Q1: 4,974,041 shares; 2025Q2: 4,974,041 shares; 2025Q3: 4,974,041 shares 4,974,041$13.1M0.32%0Timeline
MAZEMAZE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 457,535 shares; 2025Q2: 457,535 shares; 2025Q3: 457,535 shares 457,535$11.9M0.29%0Timeline
APIAGORA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,098,553 shares; 2025Q1: 2,098,553 shares; 2025Q2: 2,098,553 shares; 2025Q3: 2,098,553 shares 2,098,553$8.02M0.2%0Timeline
CTNMCONTINEUM THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 669,337 shares; 2024Q4: 669,337 shares; 2025Q1: 669,337 shares; 2025Q2: 669,337 shares; 2025Q3: 669,337 shares 669,337$7.86M0.19%0Timeline
EMSMART SH GLOBAL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,949,700 shares; 2024Q4: 3,949,700 shares; 2025Q1: 3,949,700 shares; 2025Q2: 3,949,700 shares; 2025Q3: 3,949,700 shares 3,949,700$5.33M0.13%0Timeline
SGMTSAGIMET BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 724,800 shares; 2024Q4: 724,800 shares; 2025Q1: 724,800 shares; 2025Q2: 724,800 shares; 2025Q3: 724,800 shares 724,800$4.97M0.12%0Timeline
TUYATUYA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,564,400 shares; 2024Q4: 1,564,400 shares; 2025Q1: 1,564,400 shares; 2025Q2: 1,564,400 shares; 2025Q3: 1,564,400 shares 1,564,400$3.86M0.09%0Timeline
GEGE AEROSPACEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,713 shares; 2024Q4: 10,328 shares; 2025Q1: 6,757 shares; 2025Q2: 6,305 shares; 2025Q3: 10,043 shares 10,043$3.02M0.07%+3,738Timeline
MOGUMOGU INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 847,510 shares; 2024Q4: 847,510 shares; 2025Q1: 847,510 shares; 2025Q2: 847,510 shares; 2025Q3: 847,510 shares 847,510$2.91M0.07%0Timeline
BRIGHT SCHOLAR ED HLDGS LTDBRIGHT SCHOLAR ED HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 988,143 shares; 2024Q4: 988,143 shares; 2025Q1: 988,143 shares; 2025Q2: 988,143 shares; 2025Q3: 988,143 shares 988,143$1.93M0.05%0
MCOMOODYS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,502 shares; 2024Q4: 4,477 shares; 2025Q1: 2,637 shares; 2025Q2: 2,476 shares; 2025Q3: 2,888 shares 2,888$1.38M0.03%+412Timeline
PACBPACIFIC BIOSCIENCES CALIF INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 918,892 shares; 2024Q4: 918,892 shares; 2025Q1: 918,892 shares; 2025Q2: 918,892 shares; 2025Q3: 918,892 shares 918,892$1.18M0.03%0Timeline
EQXEQUINOX GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 80,500 shares 80,500$903K0.02%newTimeline
BBARRICK MNG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 25,400 shares 25,400$832K0.02%newTimeline
ALGSALIGOS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 76,247 shares; 2024Q4: 76,247 shares; 2025Q1: 76,247 shares; 2025Q2: 76,247 shares; 2025Q3: 76,247 shares 76,247$747K0.02%0Timeline
UXINUXIN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 19,156 shares; 2024Q4: 19,156 shares; 2025Q1: 19,156 shares; 2025Q2: 19,156 shares; 2025Q3: 19,156 shares 19,156$66.3K<0.01%0Timeline
RDGTRIDGETECH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,167 shares; 2024Q4: 20,167 shares; 2025Q1: 20,167 shares; 2025Q2: 20,167 shares; 2025Q3: 20,167 shares 20,167$24.6K<0.01%0Timeline

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
WNS HLDGS LTD COM SHSWNS HLDGS LTD COM SHS1,531,466$96.8Mshares
JDJD.COM INC2,275,500$74.3Mshares
VIPSVIPSHOP HLDGS LTD1,131,788$17Mshares
LILI AUTO INC620,000$16.8Mshares
ZTOZTO EXPRESS CAYMAN INC671,387$11.9Mshares
BZKANZHUN LIMITED576,339$10.3Mshares
MSCIMSCI INC2,008$1.16Mshares
LAKESHORE BIOPHARMA CO LTDLAKESHORE BIOPHARMA CO LTD75,179$76.7Kshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0000902664-25-004996 base2025-11-14acceptance time not in the bulk data set