Nio‘s stock surged in the third quarter of 2025, more than doubling from the closing price of $3.51 on July 1 to $7.62 on September 30.
Amid the surge, the number of shares held by institutions has also jumped by more than 100 million.
According to Nasdaq, and as of Tuesday, a total of 480 investors collectively hold around 316 million shares in the Shanghai-headquartered EV maker.
By the end of the second quarter, Fintel data shows institutional investors held just under 200 million shares, indicating a 58% jump in the number of shares held by institutional shareholders.
Earlier this year, the company reached its lowest level of institutional ownership, continuing a decline from the peak of nearly 600,000 institutionally held shares in early 2022.
Since the start of 2025, Nio‘s stock has risen 39.5%.
The company’s US-listed shares closed 1.3% lower at $6.08 on Tuesday’s market session.
Since September 30, Nio‘s share price has dropped about 20%, after reaching a 2025 high of $8.02 in early October.
Return to the Stock
In the last quarter, several institutions returned to Nio‘s stock after previously exiting their positions.
It is the case of Aspex Management, which was the EV maker’s largest institutional shareholder by the end of the quarter.
The Hong Kong-based hedge fund purchased 35 million shares between July and September, returning to the company for the first time in nearly three years.
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.
The firm places fourth among the largest investors in the EV maker.
D.E. Shaw, which had exited its position between April and June, selling all its 8.6 million shares, has now bought 13.8 million. The group has jumped to seventh place.
Likewise, Florida-based Voloridge has returned to Nio with an 11.8 million-share position, ranking ninth.
The firm, which previously held as many as 10.5 million shares in mid-2023, has a history of shifting in and out of the stock.
It has exited and reentered Nio six times — most recently in the second quarter of 2025, when it fully sold off its then-reduced stake of 44,000 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.
Among Nio‘s 10 largest institutional shareholders, one has entered the stock for the first time.
Ghisallo Capital Management opened a position in the EV maker in the third quarter of 2025, with an investment of 12 million shares.
The Boston firm, registered with the SEC in 2020, holds the eighth biggest stake.
Change in Position
Jane Street Group has increased its holdings in the EV maker to a record high of 19.2 million shares during the third quarter.
The 19 million-share position is more than double the previous record of 8 million shares, which was set in the first quarter of 2024.
The surge in holdings led the firm to hold the third biggest stake among Nio‘s institutional investors.
UBS, which was the EV maker’s largest investor by the end of the second quarter, slashed its position by nearly 59%.
The firm held 28.7 million shares by the end of September, a stake currently worth $177 million. It is still the second largest investor.
