SINA, 58.com Among Billionaire Lei Zhang’s Big Purchases in Q2

RenaissanceRe Holdings Ltd. (NYSE:RNR)

– Shares Owned by Hillhouse Capital Management (as of June 30): 430,180

– Value of Hillhouse Capital Management’s Holding (as of June 30): $50.52 million

Next up is reinsurance and insurance coverage and related services company RenaissanceRe Holdings Ltd. (NYSE:RNR), in which Hillhouse Capital Management increased its stake to 430,180 shares by the end of the second quarter, from 126,496 shares at the beginning of it. For the second quarter, the company reported revenue of $483.28 million, easily topping expectations by $73.32 million, though EPS of $1.55 was well below the $1.92 expected. Among the funds that we track, 15 held shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) at the end of June. Those shares have gained just over 2% this year.

SINA Corp (NASDAQ:SINA)

– Shares Owned by Hillhouse Capital Management (as of June 30): 1.42 million

– Value of Hillhouse Capital Management’s Holding (as of June 30): $73.66 million

Hillhouse Capital Management acquired over 1.42 million shares of Chinese online media company SINA Corp (NASDAQ:SINA) during the second quarter, with the new position accounting for 1.86% of the value of the fund’s equity portfolio. SINA Corp reported revenue of $241.35 million for the second quarter, which topped estimates by $9.66 million, while its EPS of $0.27 did even better, topping expectations by $0.12. Shares of SINA Corp are up by 49% on a year-to-date basis. A total of 21 funds in database held shares of SINA Corp (NASDAQ:SINA) on June 30, including Robert Henry Lynch‘s Aristeia Capital, which opened a new position of 620,388 shares/

58.com Inc (ADR) (NYSE:WUBA)

– Shares Owned by Hillhouse Capital Management (as of June 30): 3.71 million

– Value of Hillhouse Capital Management’s Holding (as of June 30): $170.61 million

We finish with China-based online classified and listing platform company 58.com Inc (ADR) (NYSE:WUBA), in which Hillhouse Capital Management increased its stake by 2.38 million shares during the second quarter. 58.com Inc reported second quarter EPS of $0.15, greatly surprising analysts, which had expected it to lose $0.11 per share. Its revenue of $297.82 million missed estimates by $5.6 million however. Shares of the company are down by over 28% so far in 2016. Out of the 749 funds tracked by Insider Monkey that filed 13F’s for the June 30 reporting period, 29 of them were long 58.com Inc (ADR) (NYSE:WUBA) at that time.

Disclosure: None