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Investors / HHLR AI Portfolio
Lei Zhang / HHLR Advisors
13F
35 positions · Q2 2026AI holdings · 8 tickers
$86.4MOther holdings · 27 tickers
$745.7M · non-AI| # | Ticker | Company | Value | Shares | % of AUM | Entry quarter |
|---|---|---|---|---|---|---|
| 9 | LEGN | $172.8M | 20.8% | |||
| 10 | FUTU | $165.8M | 19.9% | |||
| 11 | AVBP | $136.5M | 16.4% | |||
| 12 | VIPS | $46M | 5.5% | |||
| 13 | PDD | $38.1M | 4.6% | |||
| 14 | BEKE | $32.2M | 3.9% | |||
| 15 | CTKB | $29.5M | 3.5% | |||
| 16 | ALMR | $25.9M | 3.1% | |||
| 17 | ODTX | $15.6M | 1.9% | |||
| 18 | YSG | $15.5M | 1.9% | |||
| 19 | NBP | $11.7M | 1.4% | |||
| 20 | CTNM | $11M | 1.3% | |||
| 21 | MAZE | $10.9M | 1.3% | |||
| 22 | API | $8.4M | 1.0% | |||
| 23 | SGMT | $5.6M | 0.7% | |||
| 24 | NTES | $4.5M | 0.5% | |||
| 25 | GE | $3.8M | 0.5% | |||
| 26 | TUYA | $2.8M | 0.3% | |||
| 27 | BULL | $2M | 0.2% | |||
| 28 | PACB | $1.5M | 0.2% | |||
| 29 | TXN | $1.4M | 0.2% | |||
| 30 | MOGU | $1.4M | 0.2% | |||
| 31 | GOSS | $819K | 0.1% | |||
| 32 | EQX | $782K | 0.1% | |||
| 33 | ZM | $778K | 0.1% | |||
| 34 | ALGS | $440K | 0.1% | |||
| 35 | RDGT | $204 | 0.0% |
13G/13D
0 active stakes · SEC ≥5% filingsNo active major stakes since latest 13F.
Per SEC rules, investors must disclose ≥5% positions within 5-10 days of crossing the threshold; this section reflects filings since the latest 13F.
Holdings Timeline
Include non-AI changes (254)
Q2 2024
Q3 2024
Q4 2024
Q1 2025
Q2 2025
Q3 2025
Q4 2025
Q1 2026
Q2 2026
MRVL
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NEW+171K
TRIM−8K
BABA
ADD+5M
ADD+3M
TRIM−4M
TRIM−980K
TRIM−3M
ADD+2M
ADD+2M
TRIM−3M
TRIM−2M
TSM
—
TRIM−47K
ADD+23K
TRIM−10K
—
—
NEW+11K
ADD+4K
TRIM−10
LITE
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—
—
—
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—
NEW+2K
ADD+2K
NVDA
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—
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—
NEW+7K
ADD+7K
GLW
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—
NEW+8K
ADD+3K
COHR
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—
NEW+4K
ADD+2K
INTC
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—
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—
NEW+29K
TRIM−15K
CRM
TRIM−366K
DROP
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DROP
VNET
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NEW+53K
ADD+12K
DROP
PATH
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DROP
SNOW
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DROP
GOOGL
NEW+1K
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—
—
NEW+7K
DROP
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BIDU
—
NEW+300K
—
NEW+170K
—
NEW+2M
DROP
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—
GEV
NEW+10K
TRIM−2K
ADD+80
DROP
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META
ADD+38K
TRIM−40K
DROP
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APP
ADD+88K
DROP
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AAPL
ADD+29K
DROP
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—
GOOG
ADD+11K
DROP
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—
—
—
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ANET
ADD+6K
DROP
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—
—
—
—
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—
AMZN
TRIM−781K
DROP
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S
NEW+171K
DROP
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MU
—
DROP
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MSFT
TRIM−671K
DROP
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CDNS
—
DROP
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AVGO
—
DROP
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QCOM
—
DROP
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AMAT
—
DROP
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ASML
—
DROP
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Not held
low → high position value
Hover any cell for share + value delta| Period | Action | Ticker | Δ Shares | Δ Value |
|---|---|---|---|---|
| Q2 2026 | TRIM | BABA | -2,269,723 | $-290.2M |
| Q2 2026 | TRIM | MRVL | -8,100 | +$31.6M |
| Q2 2026 | TRIM | TSM | -10 | +$2.2M |
| Q2 2026 | ADD | LITE | +1,800 | +$1.8M |
| Q2 2026 | ADD | NVDA | +7,444 | +$1.7M |
| Q2 2026 | ADD | GLW | +2,566 | +$1.6M |
| Q2 2026 | ADD | COHR | +2,142 | +$1.5M |
| Q2 2026 | TRIM | INTC | -14,670 | +$718K |
| Q2 2026 | DROP | VNET | -65,100 | $-546K |
| Q2 2026 | DROP | CRM | 0 | $0 |
| Q2 2026 | DROP | PATH | 0 | $0 |
| Q2 2026 | DROP | SNOW | 0 | $0 |
| Q1 2026 | TRIM | BABA | -2,976,689 | $-488.1M |
| Q1 2026 | NEW | MRVL | +171,033 | +$16.9M |
| Q1 2026 | DROP | GOOGL | -7,300 | $-2.3M |
| Q1 2026 | ADD | TSM | +4,220 | +$1.8M |
| Q1 2026 | NEW | INTC | +28,970 | +$1.3M |
| Q1 2026 | NEW | NVDA | +6,610 | +$1.2M |
| Q1 2026 | NEW | LITE | +1,500 | +$1.1M |
| Q1 2026 | NEW | GLW | +7,700 | +$1M |
| Q1 2026 | NEW | COHR | +4,275 | +$1M |
| Q1 2026 | ADD | VNET | +12,000 | +$97K |
| Q4 2025 | DROP | BIDU | -1,641,000 | $-216.2M |
| Q4 2025 | ADD | BABA | +2,140,680 | +$208M |
| Q4 2025 | NEW | TSM | +11,300 | +$3.4M |
| Q4 2025 | NEW | GOOGL | +7,300 | +$2.3M |
| Q4 2025 | NEW | VNET | +53,100 | +$449K |
| Q3 2025 | ADD | BABA | +2,139,966 | +$457.6M |
| Q3 2025 | NEW | BIDU | +1,641,000 | +$216.2M |
| Q2 2025 | TRIM | BABA | -2,758,055 | $-386.3M |
| Q1 2025 | TRIM | BABA | -979,545 | +$102.3M |
| Q1 2025 | NEW | BIDU | +170,000 | +$15.6M |
| Q1 2025 | TRIM | TSM | -9,588 | $-2.9M |
| Q1 2025 | DROP | GEV | -7,826 | $-2.6M |
| Q4 2024 | TRIM | BABA | -3,940,300 | $-522.4M |
| Q4 2024 | ADD | TSM | +23,193 | +$5M |
| Q4 2024 | DROP | META | -4,000 | $-2.3M |
| Q4 2024 | ADD | GEV | +80 | +$599K |
| Q3 2024 | ADD | BABA | +3,448,152 | +$549.5M |
| Q3 2024 | NEW | BIDU | +300,000 | +$31.6M |
| Q3 2024 | DROP | CRM | -96,358 | $-24.8M |
| Q3 2024 | TRIM | META | -40,476 | $-20.1M |
| Q3 2024 | DROP | APP | -218,400 | $-18.2M |
| Q3 2024 | DROP | GOOG | -69,724 | $-12.8M |
| Q3 2024 | DROP | MU | -72,404 | $-9.5M |
| Q3 2024 | DROP | MSFT | -20,837 | $-9.3M |
| Q3 2024 | DROP | AAPL | -40,500 | $-8.5M |
| Q3 2024 | TRIM | TSM | -47,405 | $-8.2M |
| Q3 2024 | DROP | AMZN | -41,700 | $-8.1M |
| Q3 2024 | DROP | ASML | -5,271 | $-5.4M |
| Q3 2024 | DROP | S | -170,507 | $-3.6M |
| Q3 2024 | DROP | ANET | -9,800 | $-3.4M |
| Q3 2024 | DROP | QCOM | -15,100 | $-3M |
| Q3 2024 | DROP | AVGO | -13,500 | $-2.2M |
| Q3 2024 | DROP | AMAT | -9,074 | $-2.1M |
| Q3 2024 | DROP | CDNS | -3,774 | $-1.2M |
| Q3 2024 | TRIM | GEV | -1,860 | +$328K |
| Q2 2024 | ADD | BABA | +5,235,548 | +$376.9M |
| Q2 2024 | TRIM | MSFT | -671,263 | $-281.9M |
| Q2 2024 | TRIM | AMZN | -781,200 | $-140.4M |
| Q2 2024 | TRIM | CRM | -365,779 | $-114.4M |
| Q2 2024 | ADD | META | +38,476 | +$19.5M |
| Q2 2024 | ADD | APP | +87,600 | +$9.1M |
| Q2 2024 | ADD | AAPL | +28,800 | +$6.5M |
| Q2 2024 | ADD | GOOG | +10,824 | +$3.8M |
| Q2 2024 | NEW | S | +170,507 | +$3.6M |
| Q2 2024 | ADD | ANET | +6,200 | +$2.4M |
| Q2 2024 | NEW | GEV | +9,606 | +$1.6M |
| Q2 2024 | NEW | GOOGL | +1,409 | +$257K |