---
title: "Hillhouse Capital significantly increased its holdings in PDD and Alibaba last season"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/266074154.md"
description: "HHLR Advisors, a fund under Hillhouse Capital, disclosed its U.S. stock holdings as of the end of the third quarter, holding 33 stocks with a total market value of approximately $4.09 billion, an increase of nearly 32% compared to the second quarter. Among them, it significantly increased its holdings in PDD and Alibaba, with the value of its holdings rising to $1.135 billion and $587 million, respectively, becoming the top two holdings. At the same time, it reduced its holdings in NetEase and Futu, completely divesting from JD Group, Vipshop, and Li Auto"
datetime: "2025-11-16T10:15:29.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/266074154.md)
  - [en](https://longbridge.com/en/news/266074154.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/266074154.md)
---

> 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/266074154.md) | [English](https://longbridge.com/en/news/266074154.md)


# Hillhouse Capital significantly increased its holdings in PDD and Alibaba last season

Hillhouse Capital's fund HHLR Advisors disclosed its U.S. stock holdings as of the end of the third quarter, with a portfolio holding 33 stocks, including Pinduoduo (PDD.US), Alibaba (09988.HK/BABA.US), Baidu (09888.HK/BIDU.US), and other heavyweight tech stocks, with a total market value of approximately $4.09 billion (about HKD 31.9 billion), an increase of nearly 32% compared to the second quarter.

The latest 13F filing from HHLR Advisors shows that it increased its holdings in 4 stocks, reduced its holdings in 4 stocks, newly purchased 5 stocks, and completely sold out of 8 stocks, significantly increasing positions in Pinduoduo, Alibaba, etc., with the value of holdings rising to $1.135 billion and $587 million, becoming the top two holdings.

Additionally, it reduced its holdings in NetEase (9999.HK/NTES.US) and Futu (FUTU.US), and completely exited JD Group (09618.HK/JD.US), Vipshop, Li Auto (02015.HK/LI.US), and others.

(BC)

### 相關股票

- [Alibaba (BABA.US)](https://longbridge.com/zh-HK/quote/BABA.US.md)
- [BABA-W (09988.HK)](https://longbridge.com/zh-HK/quote/09988.HK.md)
- [PDD (PDD.US)](https://longbridge.com/zh-HK/quote/PDD.US.md)
- [KraneShares 2x Long BABA Daily ETF (KBAB.US)](https://longbridge.com/zh-HK/quote/KBAB.US.md)
- [YieldMax BABA Option Income Strategy ETF (BABO.US)](https://longbridge.com/zh-HK/quote/BABO.US.md)
- [BABA 2x Long Daily ETF - GraniteShares (BABX.US)](https://longbridge.com/zh-HK/quote/BABX.US.md)

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