Mirae Asset Global ETFs Holdings massively increased its stake in XPeng during the first quarter of 2026, adding 3,462,006 shares to finish the period with 3,771,525 — the South Korean firm’s largest position in the Chinese carmaker to date.
The latest quarterly portfolio update submitted to the US Securities and Exchange Commission (SEC) showed a 1,118.5% increase in the position, valued at $64.5 million as of March 31.
The new Q1 2026 position is approximately 5.9 times larger than the ETF arm’s previous high of 636,720 shares, reached in the third quarter of 2024.
The move came as its sister entity, Mirae Asset Global Investments Co., fully exited its XPeng position during the same quarter — selling its remaining 53,570 shares.
Both firms are subsidiaries of South Korea’s Mirae Asset Financial Group.
The timing suggests the group consolidated its XPeng exposure under the ETF arm, likely shifting the holding into an exchange-traded fund structure rather than making a fully net new investment.
Still, the ETF entity’s resulting position is significantly larger than anything either subsidiary had held individually since 2022, pointing to a broader increase in the group’s overall XPeng allocation.
Mirae Asset Global Investments
Mirae Asset Global Investments first entered a position in XPeng during the third quarter of 2020 — when the carmaker went public on the New York Stock Exchange — with 117,934 shares.
The position grew rapidly, peaking at 1,291,733 shares worth nearly $41 million by the end of June 2022 — the firm’s largest XPeng exposure to date.
A sharp 47% cut in the third quarter of 2022 brought the position down to 685,035 shares, and a further 44% reduction by year-end left it at 384,870 shares.
The firm briefly rebuilt its stake in early 2023, reaching 976,040 shares by March — a 153.6% quarter-on-quarter increase — but resumed selling shortly after, gradually declining to 721,288 shares by year-end 2023.
A brief Q1 2024 rebuild brought the position back to 978,588 shares before the structural turning point: the second quarter of 2024 saw an 88.8% cut to 109,253 shares.
The position remained relatively stable through the end of 2024, ranging from 108,935 to 113,959 shares.
Reductions resumed in 2025: the first quarter brought a 32.7% cut to 73,321 shares, followed by a brief Q2 2025 increase to 75,470 shares, then a 28.1% Q3 2025 reduction to 54,234 shares.
By the end of December 2025, the position stood at 53,570 shares — before being fully exited in the first quarter of 2026.
Mirae Asset Global ETFs Holdings
The ETF arm’s XPeng history is shorter — it first appeared in filings for the second quarter of 2024, with 476,416 shares.
The position grew to 636,720 shares by the third quarter of 2024 — the ETF arm’s previous highest level — before declining to 549,066 shares by year-end 2024.
Throughout 2025, the position fluctuated between 290,227 and 371,120 shares, ending the year at 309,519 shares on December 31, 2025 — before the Q1 2026 jump to 3,771,525 shares.
The Q1 2026 position represents the largest single-quarter accumulation in the ETF arm’s XPeng history and one of the most aggressive institutional moves in the carmaker’s stock during the period.
Mirae Asset Global ETFs Holdings is currently listed among the top 10 institutional investors of XPeng.
15-Month Low
XPeng‘s US-listed shares are trading 79.8% below their all-time high of $74.49, reached in November 2020.
The stock has traded below $30 since August 2022 and declined as low as $6.18 in November the same year.
The company’s shares started 2026 trading at roughly $20 and fell to a low of $15.38 in February.
Although the stock briefly climbed back to $20 in March, it has since declined again, closing at $15.06 on Monday.
The stock reached a fifteen-month low on Monday, declining to $14.91.
Mirae’s position in the EV maker is now worth $56.8 million, about $8 million less than it was on March 31.
Institutional Ownership
XPeng’s institutional ownership peaked in late 2021, with over 260 million shares held collectively. The figures have since halved in the past four years.
According to Nasdaq, the company currently has 286 institutional shareholders holding over 120 million shares combined.
Alibaba Group remained its largest institutional investor, with over 33.5 million shares worth $521 million.
Primecap Management followed with 12.7 million shares — worth $191.8 million — after a marginal 0.5% trim during the quarter.
Tmt General Partner Ltd and Ghisallo Capital Management both held unchanged positions of 10.3 million and 7.5 million shares, respectively, valued at $154.9 million and $113 million.
Goldman Sachs more than doubled its stake during the quarter, adding 4.56 million shares for a total of 7.84 million — a 139.2% increase that brought the position’s value to $118 million.
UBS, which ranks as one of the top 10 largest investors, has trimmed its position by 17.5% during the first quarter, holding 4.4 million shares by the end of March. The stake is worth $68.5 million.
Deutsche Bank also doubled its position in the Guangzhou-headquartered carmaker to a nearly four year high — it held 169,205 shares in the company during the first quarter, a stake valued at $2.9 million by the end of March.
The first-quarter position marks its highest holdings in XPeng since the third quarter of 2022.
