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HHLR ADVISORS, LTD.

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GRAND CAYMAN E9 Investment Advisor Hedge Fund
13F Summary

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WhaleScore 2.0 ?

85

S&P 500
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Hhlr Advisors, Ltd. is based out of Grand Cayman. Hhlr Advisors, Ltd. is a hedge fund Their last reported 13F filing for Q3 2024 included $4,555,210,309 in managed 13F securities and a top 10 holdings concentration of 89.62%. Hhlr Advisors, Ltd.'s largest holding is BeiGene Ltd with shares held of 5,176,906. Whalewisdom has at least 60 13F filings, 37 13D filings, 94 13G filings, and 4 Form 4 filings
Business Description
HHLR Advisors, Ltd. ("HHLR") is registered with the United States Securities and Exchange Commission ("SEC") as an investment adviser. HHLR provides investment advisory services to Portfolio Companies and their affiliates. These arrangements present a conflict of interest because HHLR, through a client's ownership interest in a Portfolio Company, could influence that Portfolio Company or one of its affiliates to engage HHLR, its affiliates, or other members of the Hillhouse Network. Additionally, HHLR, its affiliates, or other members of the Hillhouse Network will receive any fixed and incentive compensation agreed to with each such Portfolio Company (or its affiliate), which in many cases is not repaid or rebated to clients, which poses an additional conflict. HHLR recognizes the conflicts in these situations and relies upon its compliance and conflicts policies to manage actual and potential conflicts of interest. HHLR has adopted a Code of Ethics that applies to all of its employees and that is designed to prevent conflicts of interest from influencing its investment decisions. The Code of Ethics requires all employees to disclose any potential conflicts of interest to HHLR's compliance officer and to recuse themselves from any decision-making process in which they have a conflict of interest.
Investment Strategy
HHLR's investment philosophy involves seeking long-term, risk-adjusted returns through bottom-up analysis and fundamental proprietary research. Their bottom-up analysis includes both qualitative and quantitative assessments of potential investments, with a focus on opportunities where they can gain insights and discover value in a changing world. HHLR's client portfolios primarily focus on publicly-listed investment opportunities and certain clients invest in securities traded on exchanges within the PRC. However, client portfolios may also hold investments in illiquid or less-liquid investments. HHLR allocates investment opportunities among eligible clients fairly and equitably, considering factors such as investment suitability, objectives, valuation, portfolio composition, and liquidity.
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2024-09-30

Top Buys (13F)

Name % Change
BABA Alibaba Group Holdin 11.01%
NTES NetEase Inc 2.05%
ZTO ZTO Express (Cayman) 1.61%
JD JD.com Inc 1.37%
FUTU Futu Holdings Ltd 1.05%

2024-09-30

Top Sells (13F)

Name % Change
PDD PDD Holdings Inc 15.06%
BEKE KE Holdings Inc 3.34%
DASH DoorDash, Inc 0.67%
DHR Danaher Corp 0.61%
CRM Salesforce Inc 0.61%

2024-09-30

13F Holdings Summary

Name $ Change
ONC BeiGene Ltd 25.52%
BABA Alibaba Group Holdin 20.57%
PDD PDD Holdings Inc 14.11%
LEGN Legend Biotech Corp 7.1%
VIPS Vipshop Holdings Ltd 5.43%
All or part of HHLR ADVISORS, LTD. 13F disclosures were filed under a combined 13F through EVERGREEN QUALITY FUND GP, LTD.
for 2024-09-30
This Form 13F-HR, filed by HHLR Advisors, Ltd. ("HHLR"), includes the holdings managed by Hillhouse Investment Management, Ltd. HHLR and Hillhouse Investment Management, Ltd. are under common control and share certain policies, personnel and resources.

2024-09-30

13F Activity

Market Value $4.56b, Prior: $4.05b
Inflows (Outflows) as % of Total MV (-10.4537)%
New Purchases 4 stocks
Added To 7 stocks
Sold out of 34 stocks
Reduced holdings in 13 stocks
Top 10 Holdings % 89.62%
Turnover %[1] 46.34%
Turnover Alt %[2] 16.43%
Time Held Top 20 5.85 quarters
Time Held Top 10 6.3 quarters
Time Held All 11.73 quarters

[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.

[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.

2024-09-30

13F Sector Allocation Over Time

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2024-09-30

Analysis

Top 20 equal-weighted holdings. Performance numbers calculated through 2024-09-30

Portfolio Performance