Citigroup reduced its common‑stock holding in the Chinese EV maker Nio by 6.51% during the second quarter.
In the first three months of 2025, the third-largest US lender had increased its stake by over 400% after adding 6 million shares.
In a new SEC filing, the bank — which was the seventh-largest institutional shareholder in Nio at the end of the first quarter — reported 6,830,241 shares, down 475,902 from March 31.
The position was valued at $23.43 million at quarter‑end, a 15.84% drop from Q1. Derivatives exposure moved in different directions.
Citi left call options unchanged at contracts referencing 500,000 shares with the reported value easing 9.97% to $1.72 million.
Put options were cut by 58.82% to contracts referencing 140,000 shares, from 340,000 in Q1. Their value fell 62.93% to $480,000.
The Q2 trim follows a sharp build in the first quarter of the year, when Citi lifted its equity stake to a new all-time record of 7.31 million shares.
Prior to that, the holding fluctuated around 1.2–2.5 million shares through 2023–24, well below earlier peaks in 2019–21.
Citi was the seventh‑largest institutional holder at end‑Q1. However, full second‑quarter rankings may shift as additional filings are posted.
As of Tuesday, Citi is the only top-10 institution that has released its second quarter portfolio update.
The bank started investing in the Shanghai-based EV maker in the third quarter of 2018, at its initial public offering (IPO).
Nasdaq data currently lists 466 institutional holders with a combined 220.17 million Nio shares.
Institutional ownership has more than halved sharply since mid-2022. Back then, institutions held nearly 600 million shares, and the stock traded in the $15—$25 range.
Separately this week, SG Americas Securities, the North American arm of Société Générale, disclosed a 14.5% Q2 reduction to 1.8m shares, worth $6m at quarter‑end.
Nio shares surged by about 5,000% between late 2019 and January 2021, when it reached a new all-time high of $66.99 per share.
As reported earlier this Tuesday, the EV maker recorded 6,100 insurance registrations last week, with its Onvo brand contributing 3,200 units.
Firefly, the cheapest brand of the group, registered 684 units — marking a sequential decline of 12.3%.
At press time, Nio shares were down 3.2% at $4.75 in Tuesday’s premarket trading.
