On Saturday, February 15th, at midnight Beijing time, HHLR Advisors, a fund management platform under Hillhouse Capital focusing on secondary market investments, announced its Form 13F report for the quarter ending in Q4 2024. The overall Hold Positions still show HHLR Advisors' continued focus on Chinese Assets.
On February 15th, Financial Associated Press reported (Editor: Xiao Xiang) that on Saturday, February 15th, at midnight Beijing time, HHLR Advisors, a fund management platform under Hillhouse Capital focusing on secondary market investments, announced its Form 13F report for the quarter ending in Q4 2024.
Data shows that in the fourth quarter, the total market value of HHLR Advisors' Hold Positions significantly decreased from about 4.6 billion dollars in the third quarter to about 2.9 billion dollars. Currently, the U.S. stock market is at historical highs, and HHLR Advisors' relevant adjustments to its positions in the fourth quarter may not only be to lock in profits but also to control risks.
It is worth mentioning that although HHLR Advisors reduced its positions in some previously surging Chinese concept stocks, the overall Hold Positions still demonstrate HHLR Advisors' sustained focus on Chinese Assets.
Overall, among the top ten Hold Positions of HHLR Advisors in the fourth quarter, Chinese concept stocks still occupy as many as eight seats.
Among them,$BeiGene (ONC.US)$、$Alibaba (BABA.US)$and$PDD Holdings (PDD.US)$The ranking has not changed - it still occupies a place among the top three heavy stocks.
Other Chinese concept stocks in the top ten heavy stocks also include$NetEase (NTES.US)$、$KE Holdings (BEKE.US)$、$Vipshop (VIPS.US)$、$Legend Biotech (LEGN.US)$and $Futu Holdings Ltd (FUTU.US)$ 。
The only two stocks in the top ten that are not Chinese concept stocks are both biopharmaceutical companies.$ArriVent BioPharma (AVBP.US)$and Business Process Management service providers $WNS Holdings (WNS.US)$ 。
Among them, $WNS Holdings (WNS.US)$ is a new stock purchased by HHLR Advisors in the fourth quarter, but this move has entered the top ten heavy positions list. The company is a business process management firm headquartered in Mumbai, India, and its stock price has risen over 30% since mid-January.
Trends of Chinese concept stocks
Among the four new Stocks purchased by HHLR Advisors in the fourth quarter, two are Chinese concept stocks, namely $Agora (API.US)$ and $Momo Inc (MOMO.FTOLD.US)$ . In that quarter, HHLR Advisors bought over 2.09 million shares of Agora, accounting for 1.98% of its investment portfolio.
In the fourth quarter, HHLR Advisors also increased Shareholding in 10 Stocks, including as many as 4 Chinese concept stocks - namely KE Holdings, Futu Holdings Ltd, JD.com and $Dada Nexus (DADA.US)$. In that quarter, HHLR Advisors increased its Shareholding in KE Holdings by 392,588 shares, a quarter-on-quarter increase of 3.61%; the increase in shareholding for Futu Holdings Ltd was 67,214 shares, a quarter-on-quarter increase of 6.39%.
The performance of these newly listed and increased shareholdings in Chinese concept stocks may have brought significant returns to HHLR Advisors.
Market data shows that Agora has increased by over 200% since the end of September 2024. Futu Holdings Ltd has also seen its highest increase of more than 100% since the fourth quarter of 2024.
In terms of shareholding reduction, HHLR Advisors reduced holdings in a total of 11 stocks in the fourth quarter, including$BEIGENE (06160.HK)$Alibaba, PDD Holdings, Trip.com, and$Sohu.com (SOHU.US)$other previously well-performing heavy-weight stocks.
BEIGENE, as HHLR Advisors' largest heavy-weight stock, has investments tracing back to 2014. HHLR Advisors has participated in and supported BEIGENE in 8 rounds of financing, holding positions for over 10 years. However, last year in the fourth quarter, HHLR Advisors reduced its holdings in BEIGENE (-1,372,500 shares) just as BEIGENE's stock price reached a year-and-a-half high—during the period from April to October of last year, the stock had increased by over 80%.
Other Chinese concept stocks that have reduced shareholding also show similar characteristics of their stock prices rising to stage highs.
Overall, according to the latest disclosed Form 13F documents, HHLR Advisors' position as of last year's fourth quarter has been newly established.$Shinwa (7607.JP)$The companies in which shareholding has been increased span multiple fields including Technology, Wind Power, SSE High-End Equipment Manufacturing 60 Index, and Integrated Circuits, reflecting their diversified investment strategy layout.
Editor/rice
