New York-based bank JPMorgan has slashed its holdings in the Chinese automaker XPeng during the third quarter, according to a new 13F filing with the SEC.
Between July and September, the company sold 99.7% of its stake (1.82 million shares), as the stock price jumped by about 30%.
By the end of the quarter, JP Morgan held 6,204 shares of XPeng, valued at less than $150,000.
XPeng’s share price has fallen by 4.3% between September 30 and last Friday, reducing the value of JP Morgan’s position to $139,094.
Volatile Position
JPMorgan opened a position in XPeng in the third quarter of 2020, right after the automaker’s initial public offering — which took place on August 27.
Back then, the bank acquired an initial 3.7 million shares, valued at $69.8 million.
Since then, JP Morgan’s holdings in XPeng have fluctuated.
After several reductions, the stake was nearly eliminated in the final quarter of 2022, leaving 107,401 shares.
The position remained below 200,000 shares until the third quarter of 2023, when JP Morgan purchased 1 million shares, then lowered to 415,510 shares in the final three months of the year.
The stake reached its peak in the final quarter of 2024, when the bank acquired over 4.22 million shares, ending the year with more than 4.59 million shares, valued at $54.3 billion.
Other Investments
According to Nasdaq, as of September 30, JP Morgan had a position in over 6,000 institutions, with a portfolio of over $1.56 trillion.
The bank’s largest positions were on the tech giants Nvidia, Microsoft and Apple. Its holdings are valued at $91.9 billion, $78.9 billion and $63.5 billion, respectively.
The company held 44.6 million Tesla shares, valued at nearly $19.2 billion. The position was slightly trimmed by 1 million shares in the third quarter.
Regarding Chinese automakers, it reduced its stake in Nio by 30% to 3.45 million, after previously increasing its position in the company with 4 billion shares during the April–June period.
XPeng Institutional Ownership
XPeng’s institutional ownership peaked in late 2021, with over 260 million shares held collectively.
The figures have sharply declined over the past four years.
As of Monday, Nasdaq data shows that XPeng has 257 institutional shareholders, holding over 140 million shares.
The company’s largest institutional shareholders have yet to report their third-quarter portfolios.
TMT General, the second largest institution, slightly trimmed its position in XPeng in the July-September period by 115,080 shares.
It held 25.4 million shares as of September 30, which are currently valued at $569 million.
