Bank of America doubled its position in Nio during the first three months of 2026, bringing its stake to the largest share count since the bank initiated coverage in 2018.
The bank ended the first quarter with 14.2 million shares in the Chinese EV maker, after adding 7 million shares — a 99.0% increase.
The position was worth $85 million at the March 31 reporting date — its highest dollar value since 2021 — though it has since declined slightly to $83.6 million as of Tuesday.
Throughout that year, the company’s stake in the company fluctuated between 2 to 4 million shares.
Nio‘s stock was trading at up to 10 times its current value.
Since hitting its all-time high of $66.99 on February 9, 2021, Nio‘s shares have lost over 90% of their value.
Nio‘s stock closed at $6.03 on March 31 and saw its value fluctuate between as high as $7.00 (on April 17) and as low as $5.68 (on May 6).
The company’s shares closed at $5.88 on Monday’s trading session.
History
The bank slashed its Nio holdings by 19.1% — or 1.7 million shares — in the final months of 2025, holding around 7.1 million shares in the Chinese EV maker by December 31.
It had more than doubled its stake in the Shanghai-headquartered EV maker Nio in the first three months of the year, closing the first quarter with over 12.6 million shares — representing the firm’s largest position in Nio then.
The holdings were slashed by 72.7% in the following quarter, as the bank sold over 9.1 million shares, finishing the April–June period with a 3.4 million-share stake.
In the third quarter, the firm again doubled its stake to 8.8 million shares, before ultimately cutting it by the end of the year.
Bank of America’s stake in the Shanghai-based company increased by just 1.1 million shares in 2025, when compared to 2024.
Institutional Ownership
Between mid-2022 and mid-2025, the number of Nio shares held by institutional investors dropped by over 61%.
In the third quarter, however, institutional interest in Nio jumped as the stock more than doubled, before ultimately losing part of those gains in the final months of the year.
Nio currently has 519 institutional owners holding cumulative positions of approximately 288 million shares, according to Nasdaq.
By the end of 2025, the largest shareholders included CYVN Holdings — its main backer — DE Shaw & Co (over 48 million shares), BNP Paribas and Jane Street Group with around 20 million shares each.
The scenario has changed over the first three months of 2026, however.
While DE Shaw remained its largest institutional investor besides CYYN, the firm cut nearly 10 million shares during the quarter, a 20% reduction in its stake.
The firm finished March with 38.3 million shares in the EV maker, which are currently worth $225 million.
BNP Paribas also cut its investments by 8 million shares, holding just 13.3 million by the end of the quarter — a 38.3% cut.
Jane Street Group slashed its position by 71.9% to just 5.5 million shares, dropping way below the top 10.
On the other hand, and similarly to BofA, BlackRock nearly doubled its position in Nio during the first quarter of 2026, raising its stake by 92.2% to 10.73 million shares.
Nio is scheduled to report first-quarter financial results on May 21 (Thursday).
After posting its first-ever profitable quarter in the fourth quarter of 2025, the company is targeting its first full year of profitability in 2026.
BofA Holdings
According to Nasdaq, Bank of America closed the quarter with 7,046 positions in its portfolio — worth over $1.5 trillion.
BofA cut its position in Chinese EV maker XPeng for the fourth quarter in a row, disposing of 1.2 million shares between January and March.
The firm held 1.9 million shares in the Guangzhou-based company by the end of the quarter, worth $32.7 million.
Bank of America also trimmed its position in Tesla during the first quarter by 8.6%, holding 18.9 million shares in the company by the end of March.
The stake was worth $7 billion.
In Rivian, the position was slashed to its lowest since mid-2024. The bank cut 62.4% of its shares, finishing the quarter with 3.9 million — a stake valued at $58.9 million then.
BofA increased its holdings in EV maker Lucid Motors by 10.9% in the first three months of the year, to 1.9 million shares.
As Lucid‘s stock continues trading at its lowest, the position was worth $18.3 million as of March 31 and has since declined to $11 million.
