HHLR Advisors, the fund management platform under Hillhouse Capital, recently disclosed its U.S. stock holdings as of the end of the third quarter. The portfolio consists of 33 stocks, including major tech companies such as PDD Holdings Inc (PDD.US) and Alibaba (BABA.US), with a total market value of approximately $4.091 billion (around HK$31.9 billion), marking a nearly 32% increase from the previous quarter.

Chinese equities accounted for over 90% of HHLR's portfolio, reinforcing their position as a core allocation and underscoring the firm's long-term confidence in high-quality Chinese assets.

According to HHLR's latest 13F filing, the firm increased its positions in four stocks, reduced holdings in four others, initiated five new positions, and exited eight stocks entirely. Notably, PDD Holdings Inc and Alibaba saw significant additions, with their respective holdings rising to $1.135 billion and $587 million, making them the top two holdings.

Meanwhile, HHLR trimmed its stake in Futu Holdings (FUTU.US) and completely divested from companies such as Vipshop (VIPS.US) and Li Auto (LI.US).