Assenagon Asset Management has rebuilt a position in Nio 55 times larger than any it previously held, becoming the first major institution to disclose a second-quarter 2026 move in the stock.
The firm says it manages about €83 billion in client assets, equivalent to $94.6 billion.
The Luxembourg-registered firm reported ownership of 3,756,576 Nio American depositary shares valued at $19,008,275 as of June 30, according to Fintel data.
Assenagon’s previous filing, submitted on January 14, 2025, showed zero Nio shares, confirming a complete exit at the end of 2024.
Among the institutions listed in Nasdaq’s holder data for the stock, Assenagon’s is the only position carrying a June 30, 2026 effective date, with every other major holder’s figures still reflecting March 31.
The filing is the first meaningful read on how institutional money moved in Nio during the second quarter of the year.
The remaining stakes are expected to be updated over the next few weeks.
Fifty-Five Times the Old Peak
Assenagon first appeared in Nio‘s filings with 12,918 shares as of September 30, 2021, and built the stake gradually to a peak of 68,187 shares by September 30, 2024, per the Fintel record.
Three months later, the position had been liquidated, as reported in the January 2025 filing.
The firm then stayed out through all of 2025 and the first quarter of 2026 — a six-quarter absence.
At 3,756,576 ADS, the new stake is 55.1 times that of the former peak, transforming it into the 22nd among Nio‘s institutional holders — as of Monday morning.
Who Assenagon Is
Founded in Luxembourg in 2007 by Hans Günther Bonk and Vassilios Pappas, Assenagon has grown into one of Europe’s fastest-expanding independent active managers.
The firm says it manages about €83 billion ($94.6 billion) in client assets with about 90 employees across Luxembourg, Munich, Frankfurt and Zurich.
Its specialty is the management of capital-market risk, with volatility strategies among its award-winning funds alongside equity, credit and multi-asset products.
In the US, the firm’s latest filings disclose 1,143 positions worth about $72.6 billion, per Fintel, led by Microsoft, Apple, Amazon and Alphabet.
Assenagon counts with an inverse Nvidia ETF among the top five holdings.
Assenagon’s funds are not offered to US investors, and its website blocks American visitors outright.
Bought Into a Falling Quarter
The June 30 valuation implies roughly $5.06 per ADS, against a quarter in which the stock traveled from near $7 in April to the mid-$4s by late June.
Whenever inside the quarter the buying occurred, the timing has been early so far: at Friday’s $4.49 close, the stake was worth about $16.9 million — already 11.3% below its reported June 30 value.
Monday brought a partial reprieve, with the ADRs trading 1.8% higher in pre-market at $4.57.
The quarter Assenagon bought into contained the full arc EV has chronicled.
First-quarter results on May 21 set the delivery guidance the company would later miss, and the ES9’s aggressively priced launch on May 27 produced the year’s last rally.
A June slide then left the stock down 29.0% in 60 days at a three-month low by mid-month.
The shares have since fallen further, ending last week within about 4.1% of their 52-week low — even after Goldman Sachs upgraded the stock to Buy on July 13, arguing the selloff had disconnected the price from improving fundamentals.
A Divided Institutional Base
Nasdaq data shows 507 institutional holders with 291,258,282 shares — institutional ownership of 12.51% — worth about $1.31 billion in total.
Abu Dhabi’s CYVN Holdings, which injected about $3.3 billion across two rounds in 2023, remains the company’s largest shareholder, ahead of founder William Li and long-time backer Tencent.
As a state-backed strategic investor rather than a US investment manager, CYVN sits outside the 13F regime entirely.
Abu Dhabi’s CYVN Holdings, the government-backed fund that invested about $3.3 billion across two rounds in 2023, remains the company’s largest shareholder — ahead of founder and chief executive William Li and long-time strategic backer Tencent.
The first-quarter figures still on display reveal a stark divide.
On the buying side, Two Sigma Investments expanded its position nearly nineteen-fold to 13.3 million shares, BlackRock added 93.0% to reach 10.7 million, and Renaissance Technologies grew 70.2% to 14.5 million.
Citadel Advisors added 40.4% to reach 13.2 million, while Marshall Wace appeared as a new holder with 9.4 million.
Top holder D.E. Shaw cut 20.0% to 39.3 million shares, UBS Group nearly halved its stake, JPMorgan reduced by 48.2% and Jane Street sold 71.9% of its position.
More Q2 Answers Later
Assenagon’s early submission opens a window that stays open for three weeks.
Managers have until August 14 to file second-quarter 13Fs, and most large holders submit close to the deadline — meaning the next reads on whether Q2’s selloff drew buyers or drove exits will arrive in batches through mid-August.
July delivery figures are due on Saturday, August 1 — any market reaction lands on Monday, August 3 — followed by second-quarter results for which the company has yet to set a date.
