Uniswap V4 Hook Liquidity Not Stored in Hook Contract

I am working with OpenZeppelin's new Uniswap Hooks Library to experiment with hooks in V4. I am trying to reconcile a comment in the code with the reality that I am experiencing. In short, I am experimenting with creating custom TBC curves using hooks. The comment in question:

This is fine, makes sense, and I am able to override _getAmountIn (which is called inside of addLiquidity) to add liquidity to the curve. Swaps occur as expected.

However, when I call balanceOf for one of the tokens on the hook contract's address, I get an answer of 0. When I call balanceOf on the PoolManager, I get a positive value that comports with the single-sided liquidity adding activity that has occurred. This is confirmed by looking at the traces of a swap:

The to field in the Transfer event is the address 0xE03A1074c86CFeDd5C142C4F04F1a1536e203543 which is the PoolManager in Sepolia.

What am I missing here? Is liquidity not actually stored in the hook?