Understanding 13F | Hillhouse's Q1 buying spree on PDD! Increased holdings for Alibaba and BIDU-SW, while JD.com suffered significant reduction.

Retail investors, the "investment barometer", have disclosed the 13F quarterly report of top Wall Street institutions!

HHLR Advisors, a fund management institution specializing in secondary investment under the top Asian private equity firm, Hillhouse Capital, has once again "taken action" on 9 Chinese concept stocks in the first quarter, buying PDD and Huazhu in large quantities, adding BEKE-W and Alibaba, and significantly reducing its holdings in JD.com. In terms of other technology stocks, Hillhouse increased its holdings in Microsoft and Amazon during the quarter, and newly established a position in AMD.

First, let's take a look at Hillhouse's top ten heavy positions, of which Chinese concept stocks still account for a considerable proportion, occupying seven seats as before. Among them, BeiGene is still Hillhouse's top heavy stock in the US stock market, and it remained unchanged during the quarter. However, JD.com, which was the second largest heavy stock in the previous quarter, was reduced by 4.22 million shares and fell to the tenth largest heavy stock.

PDD, which was the eighth largest heavy stock in the previous quarter, received a large increase of 7.74 million shares in the first quarter, becoming Hillhouse's second largest heavy stock of the quarter; Alibaba, which received an increase of 660,000 shares, maintained its position as the fourth largest heavy stock; Vipshop, which was the fifth largest heavy stock in the previous quarter, has disappeared, and Huazhu, which newly established a position of 3.05 million shares, has become the ninth largest heavy stock.

It is worth noting that in the first quarter of last year, Hillhouse had cleared its positions in Alibaba and PDD, but it re-entered and established positions in the second quarter, and continuously bought these two stocks in the third and fourth quarters of last year and the first quarter of this year.

In terms of adding positions, the targets with the largest increase in Hillhouse's holdings during the quarter were all Chinese concept stocks. Among them, BEKE-W was the second largest increase in Hillhouse's holdings during the quarter, with an increase of 10.18 million shares; Baidu was Hillhouse's newly established position, buying 400,000 shares.

In addition to Baidu, Hillhouse also established a position in another Chinese concept stock-Ideal Auto, buying more than 1.04 million shares.

In terms of reducing positions, JD.com was the stock with the largest reduction in Hillhouse's holdings during the quarter, followed by Vipshop, which was reduced by 16.68 million shares. iQiyi and Legend Biotech followed closely, and Invesco NASDAQ 100 Index ETF was cleared.