Smart Money Radar / Whales / Lei Zhang
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Lei Zhang

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

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

Reported value
$4B
60 positions shown
Copycat since 2016
1.48x
4% per year
vs SPY
behind
SPY 3.57x same window
Top position
ONC
21% 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 · Sep 2023
ONC 21% PDD 16% BEKE 11% LEGN 10% MSFT 6% DASH 5% CRM 4% BABA 4%
+45 more 12%
SymbolValue% of bookvs prior quarter
ONC $931M 21% unchanged
PDD $721M 16% trimmed
BEKE $476M 11% trimmed
LEGN $432M 10% unchanged
MSFT $253M 6% added
DASH $212M 5% unchanged
CRM $184M 4% trimmed
BABA $176M 4% trimmed
TTWO $110M 2% unchanged
AMZN $102M 2% added
HTHT $96M 2% trimmed
BBIO $73M 2% trimmed
BIDU $72M 2% trimmed
DQ $62M 1% unchanged
unlisted $45M 1% unchanged
CPNG $44M 1% trimmed
CTKB $37M 1% unchanged
unlisted $35M 1% unchanged
ZTO $33M 1% trimmed
unlisted $31M 1% new
MDLZ $31M 1% trimmed
ROIV $29M 1% added
YMM $25M 1% trimmed
NMRA $24M 1% new
DHR $21M 0% unchanged
DDOG $20M 0% unchanged
TMO $16M 0% trimmed
NTES $15M 0% unchanged
JD $15M 0% trimmed
unlisted $14M 0% unchanged
EXK $14M 0% unchanged
SGMT $13M 0% new
unlisted $12M 0% unchanged
unlisted $11M 0% trimmed
BMRN $10M 0% trimmed
NBP $9M 0% unchanged
ARGX $8M 0% trimmed
SE $8M 0% new
PACB $8M 0% new
TSLA $8M 0% new
AXSM $7M 0% unchanged
SOHU $7M 0% unchanged
FUTU $5M 0% trimmed
GOSS $4M 0% unchanged
ATAT $4M 0% trimmed
VIPS $3M 0% unchanged
EM $3M 0% unchanged
TUYA $2M 0% unchanged
BZ $2M 0% unchanged
MOGU $2M 0% unchanged
ALGS $2M 0% unchanged
unlisted $1M 0% unchanged
PYXS $761K 0% unchanged
PLTK $701K 0% unchanged
IQ $675K 0% unchanged
unlisted $601K 0% unchanged
unlisted $365K 0% new
UXIN $312K 0% unchanged
unlisted $96K 0% unchanged
SRZNW $16K 0% unchanged
Positions built under SEC confidential treatment appear only after the SEC releases them. Cash, foreign listings and shorts never appear in these filings.