Citigroup has slightly decreased its stake in the electric vehicle maker Nio for the second consecutive quarter.
The investment bank disclosed in a new quarterly filing with the SEC that it owned 6.3 million Nio shares at the end of September, valued at nearly $48.2 million.
Despite Nio‘s US-listed shares having reached a 13-month high of $8.02 in early October, the stock has fallen by more than 12% quarter to date and closed at $6.63 on Tuesday.
As a result, the value of Citigroup’s stake in Nio has dropped to $41.9 million.
Citigroup first invested in Nio at the time of its initial public offering, in late 2018.
Over the years, Citi’s holdings have fluctuated. In some quarters, the bank bought more than 3 million shares, temporarily increasing its stake to around 5 million shares.
However, for most of the past five years, its position has generally stayed between 1 and 2.72 million shares.
Citi’s largest position came in the first quarter of 2025, when it reported holding 7.3 million shares, a fivefold increase from the previous quarter.
At that time, the stake was valued at $27.8 million, as Nio shares traded below $4.
Since the start of 2025, Nio‘s stock has risen 52%, while Citi has reduced its holdings by about 500,000 shares over the past two quarters.
Citigroup’s EV Portfolio
By the end of the third quarter, Citigroup’s portfolio included 5,179 companies with a total value of $147 billion.
Its most valued position is on chip-maker Nvidia, the world’s most valuable company. Citigroup has 33.3 million shares in the chip-giant, which are valued at $6.6 billion.
Tesla is the third largest position in Citi’s portfolio. The 9.57 million shares held in the company by the end of the quarter are currently worth more than $4 billion.
The New York-based bank more than doubled its stake in Rivian during the third quarter, reaching its largest position since it began investing in the company four years ago.
Institutional Ownership
According to Nasdaq, Nio currently has a total of 454 institutional shareholders holding more than 196.2 million shares.
London-based RWC Asset Management acquired 10.46 million Nio shares in the previous quarter, marking its return to the stock nearly five years after exiting its position.
Similarly, WT Asset Management has purchased over $18.6 million shares between July and September, after having exited its position in the automaker in late 2021.
WT and RWD currently place second and third among other institutional shareholders of the EV maker.
However, not all institutions have yet reported their third quarter portfolios as of Wednesday.
JPMorgan Chase, which used to be one of Nio‘s top 10 largest investors, has reduced its stake in the electric vehicle maker by 30% during the third quarter, selling over 1.49 million shares.
