Hillhouse Capital bets bigger on mobility with new stakes in Tesla, Uber and Nio

The Beijing-based long-term investor’s holdings in these companies reached USD 837.2 million.

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Chinese investment firm Hillhouse Capital Group bought shares of China’s EV maker Nio, Tesla and Uber in the second quarter of this year, KrASIA found Friday by analyzing Hillhouse’s second-quarter holdings report filed with the US Securities and Exchange Commission (SEC) on Wednesday.

Hillhouse, which is known as a major equities investment firm focused on the long-term, bought 147,700 shares of Tesla worth USD 33 million at the close of the last trading day of the second quarter. The investment firm did not hold any stock of the electric vehicle maker in its first-quarter filing.

The firm also bought more than 15 million shares of Uber, which were worth USD 697.3 million at the end of the second quarter, and did not hold any Uber shares in the first quarter either.

Hillhouse further increased its holding in Chinese EV maker Nio, from 21.3 million shares in the first quarter to 41.9 million stocks in the second quarter. However, due to Nio’s slide in the stock market between April and June, Hillhouse Q2 value of its holdings topped USD 106.9 million, slightly lower than the Q1 value of USD 108.7 million.

However, the Chinese investment firm reduced its stake in China’s second-hand car trading platform Uxin, holding 10.7 million shares in the second quarter, which were worth USD 23.6 million. In the first quarter, it held 15.8 million shares.

Institutional investment managers, which holds securities worth more than USD 100 million, are requested by the SEC to report their quarterly holdings within 45 days after each quarter ends.

While the filings provide information that can be months old, for long-term investors who do not change their holdings frequently, such data is still an indicator of their confidence in companies they bet on.