Smart Money Radar / Whales / Lei Zhang
L

Lei Zhang

HHLR Advisors, Ltd. · Holdings as of Jun 30, 2023, filed by Aug 15, 2023 · US long stock positions only

Hillhouse's public book. Asia-rooted growth conviction.

Reported value
$5B
60 positions shown
Copycat since 2016
1.48x
4% per year
vs SPY
behind
SPY 3.57x same window
Top position
ONC
20% of book

Copying these filings vs SPY

$1 at every deadline since 2016
SPY 3.57x Lei Zhang 1.48x
Price returns, dividends excluded on both lines. A copycat of public filings traded at each deadline, not the fund's actual performance.
Mar 2026 Dec 2025 Sep 2025 Jun 2025 Mar 2025 Dec 2024 Sep 2024 Jun 2024 Mar 2024 Dec 2023 Sep 2023 Jun 2023

The book

tile = share of the filed book · tap a tile for the ticker · Jun 2023
ONC 20% PDD 12% BEKE 11% LEGN 9% BABA 6% MSFT 6% CRM 5% DASH 4% HTHT 3%
+45 more 13%
SymbolValue% of bookvs prior quarter
ONC $923M 20% trimmed
PDD $565M 12% trimmed
BEKE $532M 11% added
LEGN $444M 9% added
BABA $272M 6% trimmed
MSFT $259M 6% added
CRM $227M 5% trimmed
DASH $204M 4% trimmed
HTHT $148M 3% added
TTWO $115M 2% new
JD $92M 2% added
DQ $81M 2% unchanged
BIDU $76M 2% added
unlisted $70M 1% trimmed
ZTO $63M 1% added
CTKB $57M 1% trimmed
unlisted $56M 1% unchanged
BBIO $51M 1% trimmed
CPNG $49M 1% trimmed
MDLZ $38M 1% trimmed
unlisted $35M 1% unchanged
YMM $33M 1% trimmed
TMO $22M 0% added
DDOG $21M 0% unchanged
NBP $21M 0% unchanged
DHR $21M 0% new
BMRN $20M 0% trimmed
EXK $19M 0% added
KDP $18M 0% new
FUTU $17M 0% unchanged
NTES $14M 0% unchanged
ADBE $13M 0% new
unlisted $13M 0% trimmed
GOOG $12M 0% new
ATAT $11M 0% added
unlisted $10M 0% trimmed
SOHU $8M 0% unchanged
ARGX $7M 0% new
AXSM $7M 0% new
COIN $7M 0% new
LI $6M 0% trimmed
GOSS $6M 0% unchanged
ROIV $5M 0% new
AMD $5M 0% trimmed
EM $4M 0% unchanged
VIPS $3M 0% trimmed
AMZN $3M 0% trimmed
TUYA $3M 0% unchanged
ALGS $2M 0% unchanged
MOGU $2M 0% unchanged
BZ $2M 0% trimmed
unlisted $1M 0% unchanged
unlisted $1M 0% unchanged
PYXS $979K 0% trimmed
PLTK $844K 0% trimmed
IQ $761K 0% trimmed
unlisted $678K 0% new
UXIN $314K 0% unchanged
unlisted $161K 0% unchanged
SRZNW $21K 0% trimmed
Positions built under SEC confidential treatment appear only after the SEC releases them. Cash, foreign listings and shorts never appear in these filings.