Smart Money Radar / Whales / Lei Zhang
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Lei Zhang

HHLR Advisors, Ltd. · Holdings as of Mar 31, 2026, filed by May 16, 2026 · US long stock positions only

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

Reported value
$2B
38 positions shown
Copycat since 2016
1.48x
4% per year
vs SPY
behind
SPY 3.57x same window
Top position
PDD
25% 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 · Mar 2026
PDD 25% BABA 18% ONC 18% FUTU 12% LEGN 6% AVBP 5% BEKE 4%
unlisted 2%
CTKB 2%
+23 more 2%
SymbolValue% of bookvs prior quarter
PDD $426M 25% trimmed
BABA $308M 18% trimmed
ONC $307M 18% unchanged
FUTU $194M 12% trimmed
LEGN $108M 6% unchanged
AVBP $91M 5% unchanged
BEKE $63M 4% unchanged
unlisted $32M 2% unchanged
CTKB $29M 2% unchanged
MRVL $17M 1% new
YSG $15M 1% unchanged
NBP $15M 1% unchanged
MAZE $11M 1% trimmed
CTNM $9M 1% unchanged
API $7M 0% unchanged
unlisted $7M 0% trimmed
TSM $5M 0% added
SGMT $4M 0% unchanged
TUYA $4M 0% unchanged
GE $3M 0% unchanged
VIPS $2M 0% new
MOGU $2M 0% unchanged
GOSS $2M 0% unchanged
INTC $1M 0% new
PACB $1M 0% unchanged
EQX $1M 0% unchanged
NVDA $1M 0% new
LITE $1M 0% new
GLW $1M 0% new
B $1M 0% unchanged
COHR $1M 0% new
DDL $911K 0% new
AXIA $712K 0% trimmed
EWW $662K 0% new
ALGS $567K 0% unchanged
VNET $546K 0% added
UXIN $59K 0% unchanged
unlisted $1K 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.