HHLR ADVISORS, LTD.

CIK 0001762304 · Q2 2026

13F Equity AUM

$832.1M

-50.3% QoQ

Positions

-3 QoQ

AUM Rank

#2,711

Top 31%

Skill Alpha (FF)

+1.2%/yr^ns

No Clear Edge

Rank #1,747 · Top 21%

vs S&P -10.6%/yr (unadj.)

Quarters Tracked

~7 years

Portfolio Concentration

Top 5: 68.5%Top 10: 85.7%Top 20: 97.0%

LEGN20.8%

FUTU19.9%

AVBP16.4%

MRVL5.8%

VIPS5.5%

PDD4.6%

BEKE3.9%

CTKB3.5%

ALAMAR BIOSCIENCES INC3.1%

BABA2.1%

Others (24)14.3%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Healthcare45.8%

Financial Services20.2%

Consumer Cyclical14.3%

Technology10.4%

Unclassified5.0%

Real Estate3.9%

Other0.5%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 34Median: 0.78%Avg: 2.94%

0–0.5%

15(3.4%)

0.5–1%

3(2.1%)

1–3%

7(10.9%)

3–5%

4(15.1%)

5%+

5(68.5%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 34vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New6Increased6Decreased7Exited9

New Positions

ALAMAR BIOSCIENCES I…3.1%

+956K

ODYSSEY THERAPEUTICS…1.9%

+832K

NTES0.5%

+35K

TXN0.2%

+5K

ZM0.1%

+9K

RIDGETECH INC0.0%

+136

Increased

VIPS5.5%

+3.3M(+2683%)

FUTU19.9%

+349K(+25%)

NVDA0.3%

+7K(+113%)

GLW0.3%

+3K(+33%)

COHR0.3%

+2K(+50%)

LITE0.3%

+2K(+120%)

Decreased

PDD4.6%

-3,665,029(-88%)

BABA2.1%

-2,269,723(-93%)

BEKE3.9%

-2,017,901(-48%)

BULLW0.2%

-1,190,143(-79%)

INTC0.2%

-14,670(-51%)

MRVL5.8%

-8,100(-5%)

TSM0.9%

-10(-0%)

Exited

ONC

-1,034,306

CWAN

-1,365,971

-25,400

-354,500

-8,800

-63,100

-65,100

-20,167

-19,156

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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