JPMorgan Chase has reduced its stake in the electric vehicle maker Nio by 30% during the third quarter, selling over 1.49 million shares.
A new filing with the US Securities and Exchange Commission (SEC) on Friday showed that the bank closed the period between July and September with about 3.44 million Nio shares.
The EV maker saw the price of its US-listed shares more than double between June 30 and September 30.
By the end of the third quarter, JP Morgan’s holdings in the company were valued at $26.27 million.
Since the end of the third quarter, Nio‘s share price has declined roughly 9%, reducing the value of JPMorgan’s holdings to $23.65 million, a decrease of approximately $3 million.
Additionally, the bank has nearly sold all its Put options in the third quarter.
It sold 58,700 contracts, closing the quarter with only 1,500 — a 97.4% cut when compared to June.
JP Morgan’s institutional ownership stake in Nio has fluctuated significantly over the past three quarters.
In the second quarter, the bank had added 4.75 million shares, totaling 4.94 million — the largest stake since the final quarter of 2022, when it held 5.73 million shares.
The bank nearly exited its stake in the January-March period, when it slashed its holdings from nearly 4 million to just 187,562 shares.
Peak Position
The bank’s peak position was in the third quarter of 2020, when it held over 10.2 million shares in the EV maker.
However, JPMorgan dumped 73% of its position in the final months of the year, just before Nio shares reached a new all-time high at $66.99 in January 2021.
Nio was founded in 2024 and went public in September 2018, raising $1 billion.
JP Morgan opened a position in the company in the first quarter of 2019, with 288,448 shares, valued at $1.47 million then.
Portfolio Context
According to Nasdaq, and as of September 30, the bank had a position in 6,262 institutions. Its portfolio is valued at over $1.56 billion.
The bank’s largest holdings are in Nvidia, the world’s most valuable company, with 488 million shares worth nearly $92 billion. Microsoft comes next, with 158 million shares valued at around $79 billion.
It also owns 44.6 million Tesla shares, currently worth $19 billion. The bank slightly reduced this position by 1.3 million shares.
JP Morgan has almost completely exited its stake in XPeng, selling 1.83 million shares by the end of September, leaving just 6,204 shares.
Institutional Ownership
JPMorgan places 10th among Nio’s institutional holders, with most shareholders having yet to report third quarter portfolio update.
According to Fintel, Nio currently has a total of 441 institutional shareholders holding more than 184.4 million shares.
As reported earlier this Monday, 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.
RWD currently places second among other institutional shareholders of the EV maker.
