HHLR Advisors, the stock-market-focused arm of private equity firm Hillhouse Capital, increased its holdings in Chinese e-commerce giants Pinduoduo and Alibaba Group Holding in the third quarter while selling its entire stake in JD.com.

The Cayman-based hedge fund added 1.6 million shares of Pinduoduo in the three months ended September 30, bringing its total to 8.6 million shares valued at $1.1 billion. This keeps Pinduoduo as HHLR’s largest holding, representing 27.8% of the fund’s portfolio.

HHLR also increased its stake in Hangzhou-based Alibaba by 2.1 million shares, raising its total to 3.3 million shares worth $588 million. Alibaba now accounts for 14.4% of the fund’s portfolio, making it the second-largest holding.

The fund also re-entered Baidu, purchasing 1.6 million shares worth $216.2 million, making it the sixth-largest holding at 5.3% of the portfolio.