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HHLR ADVISORS, LTD.

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

HHLR ADVISORS, LTD. reported $3,103,678,081 across 33 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 96.1% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000902664-26-001126

Period
2025-12-31
Reported value
$3.1B
Holdings
33
Top 10 weight
96.1%
New
6
Sold out
6

Part of the filer group HHLR ADVISORS, LTD.

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BABAadded+2,140,680$314M
PDDadded+2,128,800$241M
TSMnew+11,300$3.43M
GOOGLnew+7,300$2.28M
IBITnew+35,300$1.75M

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-1,607,930-$264M
BIDUexited-1,641,000-$216M
BULLreduced-27,106,242-$211M
NTESexited-790,807-$120M
YMMexited-4,066,553-$52.7M

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, Q4 2025

Share positions as resolved from 13F-HR 0000902664-26-001126, largest first. % of portfolio is the value over $3,103,678,081, 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; 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; 2025Q4: 10,721,400 shares 10,721,400$1.22B39.17%+2,128,800Timeline
BABAALIBABA GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 5,430,346 shares 5,430,346$796M25.65%+2,140,680Timeline
ONCBEONE MEDICINES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,034,306 shares 1,034,306$314M10.12%0Timeline
FUTUFUTU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,630,249 shares 1,630,249$268M8.63%-1,607,930Timeline
LEGNLEGEND BIOTECH CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 5,984,550 shares 5,984,550$130M4.19%0Timeline
AVBPARRIVENT BIOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 3,929,117 shares 3,929,117$79.1M2.55%-555,555Timeline
BEKEKE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 4,236,278 shares 4,236,278$66.8M2.15%0Timeline
BULLWEBULL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 33,080,846 shares; 2025Q3: 33,080,846 shares; 2025Q4: 5,974,604 shares 5,974,604$46.4M1.5%-27,106,242Timeline
CTKBCYTEK BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 6,657,030 shares 6,657,030$33.6M1.08%0Timeline
CWANCLEARWATER ANALYTICS HLDGS IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,365,971 shares; 2025Q3: 1,365,971 shares; 2025Q4: 1,365,971 shares 1,365,971$32.9M1.06%0Timeline
NBPNOVABRIDGE BIOSCIENCESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 5,980,568 shares 5,980,568$23.8M0.77%0Timeline
YSGYATSEN HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 4,885,873 shares 4,885,873$19M0.61%0Timeline
MAZEMAZE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 457,535 shares; 2025Q2: 457,535 shares; 2025Q3: 457,535 shares; 2025Q4: 457,535 shares 457,535$19M0.61%0Timeline
GOSSGOSSAMER BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 4,974,041 shares 4,974,041$15.4M0.5%0Timeline
APIAGORA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 2,098,553 shares 2,098,553$8.54M0.28%0Timeline
CTNMCONTINEUM THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 669,337 shares; 2024Q4: 669,337 shares; 2025Q1: 669,337 shares; 2025Q2: 669,337 shares; 2025Q3: 669,337 shares; 2025Q4: 669,337 shares 669,337$7.65M0.25%0Timeline
SGMTSAGIMET BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 724,800 shares; 2024Q4: 724,800 shares; 2025Q1: 724,800 shares; 2025Q2: 724,800 shares; 2025Q3: 724,800 shares; 2025Q4: 724,800 shares 724,800$4.29M0.14%0Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 19,395 shares; 2024Q4: 42,588 shares; 2025Q1: 33,000 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 11,300 shares 11,300$3.43M0.11%newTimeline
TUYATUYA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,564,400 shares 1,564,400$3.3M0.11%0Timeline
GEGE AEROSPACEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,713 shares; 2024Q4: 10,328 shares; 2025Q1: 6,757 shares; 2025Q2: 6,305 shares; 2025Q3: 10,043 shares; 2025Q4: 10,043 shares 10,043$3.09M0.1%0Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 7,300 shares 7,300$2.28M0.07%newTimeline
MOGUMOGU INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 847,510 shares; 2024Q4: 847,510 shares; 2025Q1: 847,510 shares; 2025Q2: 847,510 shares; 2025Q3: 847,510 shares; 2025Q4: 847,510 shares 847,510$1.81M0.06%0Timeline
IBITISHARES BITCOIN TRUST ETFQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 35,300 shares 35,300$1.75M0.06%newTimeline
PACBPACIFIC BIOSCIENCES CALIF INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 918,892 shares; 2024Q4: 918,892 shares; 2025Q1: 918,892 shares; 2025Q2: 918,892 shares; 2025Q3: 918,892 shares; 2025Q4: 918,892 shares 918,892$1.72M0.06%0Timeline
MCOMOODYS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,502 shares; 2024Q4: 4,477 shares; 2025Q1: 2,637 shares; 2025Q2: 2,476 shares; 2025Q3: 2,888 shares; 2025Q4: 2,888 shares 2,888$1.48M0.05%0Timeline
EQXEQUINOX GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 80,500 shares; 2025Q4: 80,500 shares 80,500$1.13M0.04%0Timeline
BBARRICK MNG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 25,400 shares; 2025Q4: 25,400 shares 25,400$1.11M0.04%0Timeline
AXIAYAXIA ENERGIA SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 96,600 shares 96,600$885K0.03%newTimeline
ALGSALIGOS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 76,247 shares; 2024Q4: 76,247 shares; 2025Q1: 76,247 shares; 2025Q2: 76,247 shares; 2025Q3: 76,247 shares; 2025Q4: 76,247 shares 76,247$711K0.02%0Timeline
VNETVNET GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 53,100 shares 53,100$449K0.01%newTimeline
AXICYAXIA ENERGIA SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 25,390 shares 25,390$219K0.01%newTimeline
UXINUXIN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 19,156 shares; 2024Q4: 19,156 shares; 2025Q1: 19,156 shares; 2025Q2: 19,156 shares; 2025Q3: 19,156 shares; 2025Q4: 19,156 shares 19,156$64.6K<0.01%0Timeline
RDGTRIDGETECH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,167 shares; 2024Q4: 20,167 shares; 2025Q1: 20,167 shares; 2025Q2: 20,167 shares; 2025Q3: 20,167 shares; 2025Q4: 20,167 shares 20,167$57.5K<0.01%0Timeline

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
BIDUBAIDU INC1,641,000$216Mshares
NTESNETEASE COM INC790,807$120Mshares
YMMFULL TRUCK ALLIANCE CO LTD4,066,553$52.7Mshares
SESEA LTD180,050$32.2Mshares
EMSMART SH GLOBAL LTD3,949,700$5.33Mshares
BRIGHT SCHOLAR ED HLDGS LTDBRIGHT SCHOLAR ED HLDGS LTD988,143$1.93Mshares

How Q4 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 0000902664-26-001126 base2026-02-17acceptance time not in the bulk data set