Goldman Sachs reduced its stake in Chinese electric vehicle maker Nio for the second consecutive quarter, a new regulatory filing showed.
The investment bank sold nearly 2.4 million Nio shares during the first quarter of the year, cutting its position by 57%. This followed a reduction of more than 3.4 million shares, or 45%, in the previous quarter.
As of March 31, Goldman Sachs held 1,795,830 shares in the Shanghai-based company, the lowest level since the first quarter of 2019. Since the third quarter of 2022, the bank has sold 30.5 million Nio shares.
The firm began investing in Nio shortly after its 2018 initial public offering and gradually increased its stake, reaching a peak of over 32.3 million shares in the third quarter of 2022.
Institutional ownership in Nio has declined significantly over the past three years.
According to Fintel, institutional investors now hold approximately 199.5 million shares, down 66.7% from early 2022, when holdings reached nearly 600 million shares and the stock traded in the $15—$25 range.
Data from Nasdaq shows that UBS is Nio’s largest institutional shareholder as of the end of 2024 with 44.16 million shares with Morgan Stanley and Susquehanna following with 24.4 million and 11.14 million shares, respectively.
As reported last week, BlackRock increased its stake in Nio by 64.9% in the first quarter of 2025. The asset manager acquired 1,352,058 shares during the period, bringing its total to 3.43 million shares as of March 31, the filing showed.
Despite the quarterly increase, BlackRock’s overall holdings in Nio have declined. It ended 2023 with 62.6 million shares, added 10,000 shares in the first quarter, and then sold nearly 2.2 million shares in the second quarter, lowering its position to 60.5 million shares.
Nio opened on Saturday t pre-orders for its ES6, EC6, ET5 and ET5 Touring models. The official launch of the refreshed versions is planned to take place on May 16 (ES6 and EC6) and on May 25, for the ET5 and the ET5 Touring.
The brand delivered its 700,000th vehicle on Saturday, indicating that deliveries between May 1 and 10 stood at 2,615 units.
Nio Group saw its main brand deliver 19,269 vehicles in April, increasing both sequentially (from 10,219) and year over year (from 15,620).
