After exiting its position in mid-2023, the hedge fund Two Sigma re-entered Nio in the third quarter of 2025, having acquired 2,979,800 shares in the EV maker.
Nio‘s US-listed shares started a major rebound in the first days of the third quarter and reached a 13-month high of $8.02 in early October.
The surge was largely driven by the over 100,000 locked-in orders received for its upgraded ES8 model and the new monthly delivery records reached over the past three consecutive months.
Two Sigma’s stake was valued at 22.7 million by the end of September and is currently worth $18.3 million.
Stake in Nio
The hedge fund first opened a position in Nio in the third quarter of 2020, nearly two years after the EV maker’s initial public offering.
The New York-based purchased 5.7 million shares in the EV maker, which were increased to 6.7 million in the final quarter of 2020. To date, it was the highest stake it held in the Chinese manufacturer.
By then, the company’s stock was in a rapid upward trajectory, reaching an all time high of $66.99 in January 2021.
In 2020, Nio‘s stock price went from $3.42 to $48.74.
Two Signa Advisers completely sold their position in the EV maker by the end of the third quarter of 2021.
This was the first time they fully exited the stock.
Although they reopened their position in Nio between January and March 2021, their holdings never exceeded 2.4 million shares in the subsequent periods.
The hedge fund sold all of its holdings in the EV maker between April and June 2023 and has remained fully out of the stock up until the last quarter.
Institutional Ownership
A total of 476 institutional investors collectively hold around 316 million shares in the EV maker, as of Monday.
UBS, which was Nio‘s largest investor, slashed its position by nearly 59% in the third quarter.
The firm held 28.7 million shares in the automaker by the end of September, a stake currently worth $179 million.
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.
The EV maker’s largest institutional shareholder is now Aspex Management, which entered the stock with 35 million shares during the third quarter, currently worth $215 million.
UBS ranks second and is followed by Jane Street Corp, which jumped to the third position with over 18 million shares added to a previous stake of around 1 million.
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, while BNP Paribas reported a position of over 18 million shares.
The two firms hold the fourth and fifth largest stakes in Nio.
