HHLR ADVISORS, LTD. Diversified Active

CIK: 0001762304 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $3,103,678 (100.0% shares, 0.0% debt)

Holdings (33)

New Positions (6)

TSM TAIWAN SEMICONDUCTOR MFG LTD 0.1%

Value ($000) $3,434 Shares 11,300 Est. Cost $303.89 Unrealized —

GOOGL ALPHABET INC 0.1%

Value ($000) $2,285 Shares 7,300 Est. Cost $285.60 Unrealized 0.0%

IBIT ISHARES BITCOIN TRUST ETF 0.1%

Value ($000) $1,753 Shares 35,300 Est. Cost $49.65 Unrealized —

AXIA CENTRAIS ELET BRAS SA 0.0%

Value ($000) $885 Shares 96,600 Est. Cost $9.16 Unrealized —

VNET VNET GROUP INC 0.0%

Value ($000) $449 Shares 53,100 Est. Cost $8.46 Unrealized —

AXIA/PC CENTRAIS ELET BRAS SA 0.0%

Value ($000) $219 Shares 25,390 Est. Cost $8.62 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TSM	TAIWAN SEMICONDUCTOR MFG LTD	11,300	$3,434	0.1%	$303.89	—	SPONSORED ADS	874039100
GOOGL	ALPHABET INC	7,300	$2,285	0.1%	$285.60	0.0%	CAP STK CL A	02079K305
IBIT	ISHARES BITCOIN TRUST ETF	35,300	$1,753	0.1%	$49.65	—	SHS BEN INT	46438F101
AXIA	CENTRAIS ELET BRAS SA	96,600	$885	0.0%	$9.16	—	SPONSORED ADR	15234Q207
VNET	VNET GROUP INC	53,100	$449	0.0%	$8.46	—	SPONSORED ADS A	90138A103
AXIA/PC	CENTRAIS ELET BRAS SA	25,390	$219	0.0%	$8.62	—	SPON ADS PF CL C	15236F100

Increased Positions (2)

BABA ALIBABA GROUP HLDG LTD 25.6%

Value ($000) $795,980 (+35.4%) Shares 5,430,346 (+65.1%) Est. Cost $146.39 Unrealized —

PDD PDD HOLDINGS INC 39.2%

Value ($000) $1,215,700 (+7.0%) Shares 10,721,400 (+24.8%) Est. Cost $113.43 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BABA	ALIBABA GROUP HLDG LTD	5,430,346 (+65.1%)	$795,980 (+35.4%)	25.6%	$146.39	—	SPONSORED ADS	01609W102
PDD	PDD HOLDINGS INC	10,721,400 (+24.8%)	$1,215,700 (+7.0%)	39.2%	$113.43	—	SPONSORED ADS	722304102

Exited Positions (6)

BIDU BAIDU INC 7.0%

Value ($000) $216,235 Shares 1,641,000 Est. Cost $131.77 Unrealized —

NTES NETEASE INC 3.9%

Value ($000) $120,195 Shares 790,807 Est. Cost $93.58 Unrealized —

YMM FULL TRUCK ALLIANCE CO LTD 1.7%

Value ($000) $52,743 Shares 4,066,553 Est. Cost $12.97 Unrealized —

SE SEA LTD 1.0%

Value ($000) $32,180 Shares 180,050 Est. Cost $178.73 Unrealized —

EM SMART SH GLOBAL LTD 0.2%

Value ($000) $5,332 Shares 3,949,700 Est. Cost $6.07 Unrealized —

— BRIGHT SCHOLAR ED HLDGS LTD 0.1%

Value ($000) $1,927 Shares 988,143 Est. Cost $2.95 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BIDU	BAIDU INC	1,641,000	$216,235	7.0%	$131.77	—	—	056752108
NTES	NETEASE INC	790,807	$120,195	3.9%	$93.58	—	—	64110W102
YMM	FULL TRUCK ALLIANCE CO LTD	4,066,553	$52,743	1.7%	$12.97	—	—	35969L108
SE	SEA LTD	180,050	$32,180	1.0%	$178.73	—	—	81141R100
EM	SMART SH GLOBAL LTD	3,949,700	$5,332	0.2%	$6.07	—	—	83193E102
—	BRIGHT SCHOLAR ED HLDGS LTD	988,143	$1,927	0.1%	$2.95	—	—	109199208

Decreased Positions (3)

BULL WEBULL CORP 1.5%

Value ($000) $46,423 (-90.5%) Shares 5,974,604 (-81.9%) Est. Cost $14.98 Unrealized -32.9%

FUTU FUTU HLDGS LTD 8.6%

Value ($000) $267,703 (-52.5%) Shares 1,630,249 (-49.7%) Est. Cost $95.37 Unrealized —

AVBP ARRIVENT BIOPHARMA INC 2.5%

Value ($000) $79,054 (-4.5%) Shares 3,929,117 (-12.4%) Est. Cost $19.88 Unrealized +4.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BULL	WEBULL CORP	5,974,604 (-81.9%)	$46,423 (-90.5%)	1.5%	$14.98	-32.9%	ORD SHS	G9572D103
FUTU	FUTU HLDGS LTD	1,630,249 (-49.7%)	$267,703 (-52.5%)	8.6%	$95.37	—	SPON ADS CL A	36118L106
AVBP	ARRIVENT BIOPHARMA INC	3,929,117 (-12.4%)	$79,054 (-4.5%)	2.5%	$19.88	+4.7%	COM	04272N102

Unchanged Positions (22)

LEGN LEGEND BIOTECH CORP 4.2%

Value ($000) $130,104 Shares 5,984,550 Est. Cost $51.94 Unrealized —

ONC BEONE MEDICINES LTD 10.1%

Value ($000) $314,233 Shares 1,034,306 Est. Cost $136.90 Unrealized —

YSG YATSEN HLDG LTD 0.6%

Value ($000) $19,006 Shares 4,885,873 Est. Cost $2.11 Unrealized —

BEKE KE HLDGS INC 2.2%

Value ($000) $66,764 Shares 4,236,278 Est. Cost $22.42 Unrealized —

CTKB CYTEK BIOSCIENCES INC 1.1%

Value ($000) $33,618 Shares 6,657,030 Est. Cost $23.52 Unrealized -80.3%

CWAN CLEARWATER ANALYTICS HLDGS I 1.1%

Value ($000) $32,947 Shares 1,365,971 Est. Cost $23.01 Unrealized -12.9%

MAZE MAZE THERAPEUTICS INC 0.6%

Value ($000) $18,956 Shares 457,535 Est. Cost $12.04 Unrealized +185.5%

GOSS GOSSAMER BIO INC 0.5%

Value ($000) $15,420 Shares 4,974,041 Est. Cost $18.52 Unrealized -84.6%

NBP NOVABRIDGE BIOSCIENCES 0.8%

Value ($000) $23,803 Shares 5,980,568 Est. Cost $50.06 Unrealized —

MOGU MOGU INC 0.1%

Value ($000) $1,805 Shares 847,510 Est. Cost $3.52 Unrealized —

SGMT SAGIMET BIOSCIENCES INC 0.1%

Value ($000) $4,291 Shares 724,800 Est. Cost $13.31 Unrealized -46.0%

TUYA TUYA INC 0.1%

Value ($000) $3,301 Shares 1,564,400 Est. Cost $21.14 Unrealized —

PACB PACIFIC BIOSCIENCES CALIF IN 0.1%

Value ($000) $1,718 Shares 918,892 Est. Cost $11.43 Unrealized -83.2%

API AGORA INC 0.3%

Value ($000) $8,541 Shares 2,098,553 Est. Cost $4.16 Unrealized —

B BARRICK MNG CORP 0.0%

Value ($000) $1,106 Shares 25,400 Est. Cost $25.15 Unrealized +48.8%

EQX EQUINOX GOLD CORP 0.0%

Value ($000) $1,130 Shares 80,500 Est. Cost $7.95 Unrealized +58.7%

CTNM CONTINEUM THERAPEUTICS INC 0.2%

Value ($000) $7,651 Shares 669,337 Est. Cost $16.10 Unrealized -29.2%

MCO MOODYS CORP 0.0%

Value ($000) $1,475 Shares 2,888 Est. Cost $439.57 Unrealized +10.9%

GE GE AEROSPACE 0.1%

Value ($000) $3,094 Shares 10,043 Est. Cost $191.62 Unrealized +57.0%

ALGS ALIGOS THERAPEUTICS INC 0.0%

Value ($000) $711 Shares 76,247 Est. Cost $12.44 Unrealized -24.2%

RDGT RIDGETECH INC 0.0%

Value ($000) $57 Shares 20,167 Est. Cost $3.61 Unrealized -21.2%

UXIN UXIN LTD 0.0%

Value ($000) $65 Shares 19,156 Est. Cost $2.12 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LEGN	LEGEND BIOTECH CORP	5,984,550	$130,104	4.2%	$51.94	—	SPONSORED ADS	52490G102
ONC	BEONE MEDICINES LTD	1,034,306	$314,233	10.1%	$136.90	—	SPONSORED ADS	07725L102
YSG	YATSEN HLDG LTD	4,885,873	$19,006	0.6%	$2.11	—	SPONSORED ADS	985194208
BEKE	KE HLDGS INC	4,236,278	$66,764	2.2%	$22.42	—	SPONSORED ADS	482497104
CTKB	CYTEK BIOSCIENCES INC	6,657,030	$33,618	1.1%	$23.52	-80.3%	COM	23285D109
CWAN	CLEARWATER ANALYTICS HLDGS I	1,365,971	$32,947	1.1%	$23.01	-12.9%	CL A	185123106
MAZE	MAZE THERAPEUTICS INC	457,535	$18,956	0.6%	$12.04	+185.5%	COM	578784100
GOSS	GOSSAMER BIO INC	4,974,041	$15,420	0.5%	$18.52	-84.6%	COM	38341P102
NBP	NOVABRIDGE BIOSCIENCES	5,980,568	$23,803	0.8%	$50.06	—	SPONSORED ADS	44975P103
MOGU	MOGU INC	847,510	$1,805	0.1%	$3.52	—	SPON ADS	608012308
SGMT	SAGIMET BIOSCIENCES INC	724,800	$4,291	0.1%	$13.31	-46.0%	COM SER A	786700104
TUYA	TUYA INC	1,564,400	$3,301	0.1%	$21.14	—	SPONSERED ADS	90114C107
PACB	PACIFIC BIOSCIENCES CALIF IN	918,892	$1,718	0.1%	$11.43	-83.2%	COM	69404D108
API	AGORA INC	2,098,553	$8,541	0.3%	$4.16	—	ADS	00851L103
B	BARRICK MNG CORP	25,400	$1,106	0.0%	$25.15	+48.8%	COM SHS	06849F108
EQX	EQUINOX GOLD CORP	80,500	$1,130	0.0%	$7.95	+58.7%	COM	29446Y502
CTNM	CONTINEUM THERAPEUTICS INC	669,337	$7,651	0.2%	$16.10	-29.2%	CL A	21217B100
MCO	MOODYS CORP	2,888	$1,475	0.0%	$439.57	+10.9%	COM	615369105
GE	GE AEROSPACE	10,043	$3,094	0.1%	$191.62	+57.0%	COM NEW	369604301
ALGS	ALIGOS THERAPEUTICS INC	76,247	$711	0.0%	$12.44	-24.2%	COM NEW	01626L204
RDGT	RIDGETECH INC	20,167	$57	0.0%	$3.61	-21.2%	SHS NEW	G2124G120
UXIN	UXIN LTD	19,156	$65	0.0%	$2.12	—	SPONSORED ADS	91818X306