Institutional investors added a net 2,614,154 XPeng American depositary shares during the second quarter, lifting total ownership to 128,223,905 shares across 284 holders.
The figures represent a 2.1% increase from 125,609,751 at the end of March, according to Nasdaq data compiled from 13F filings with the US Securities and Exchange Commission.
More institutions sold than bought.
A total of 127 filers raised their positions by a combined 22,710,250 shares, while 115 cut back by 15,318,832 and 53 exited entirely, removing 4,777,264 — 168 sellers against 127 buyers.
The 127 increases include 41 holders opening positions for the first time, whose 3,358,405 shares are counted within that figure rather than alongside it.
An additional 42 institutions held their positions unchanged, collectively representing 90,194,823 shares.
Goldman Sachs Cut
Goldman Sachs made the quarter’s largest single reduction, cutting 5,564,850 shares — or 71.0% of its position — to end June with 2,272,316 ADS worth $30.1 million at the June 30 close.
The bank accounted for 27.7% of everything institutions sold or liquidated during the quarter.
Goldman’s reduction alone was more than double the entire net increase.
Strip out the bank’s selling and the remaining institutional base added roughly 8.2 million shares on balance.
XPeng’s US-listed shares fell 22.6% over the quarter, from $17.10 on March 31 to $13.24 on June 30.
Morgan Stanley Leads the Buyers
Morgan Stanley was the largest single buyer, adding 4,137,650 shares — a 75.9% increase — to finish the quarter with 9,586,523 ADS worth $126.9 million.
The stake made Morgan Stanley XPeng’s fourth-largest institutional holder, behind Alibaba Group, Primecap Management, and TMT General Partner.
Citadel Advisors tripled its stake during the quarter, adding 2,722,808 shares for a 207.2% increase to 4,036,718 ADS worth $53.4 million.
Susquehanna International Group more than doubled its position, adding 1,852,544 shares — a 101.8% jump — to 3,671,997 ADS.
UBS Group added 1,175,443 shares for a 26.7% increase to 5,580,085, valued at $73.9 million.
The Swiss bank’s XPeng position has fluctuated over the past year, peaking at approximately 10.3 million shares in the third quarter of 2025 before halving into year-end.
Deutsche Bank was among the quarter’s most aggressive buyers, adding 1,010,116 shares — a 597.0% increase — to rebuild its holding to 1,179,321 ADS from near-zero.
Millennium Management added 1,165,229 shares, a 945.0% increase to 1,288,529, and Walleye Trading added 851,948 for a 241.1% rise to 1,205,331.
Further down the list, Barclays nearly quintupled its holding, adding 1,154,152 shares for a 373.6% increase to 1,463,039 ADS.
Citigroup more than quadrupled its stake, adding 1,052,141 shares to reach 1,350,191 — a 353% increase that EV reported earlier this month.
Legal & General added 693,080 shares for a 70.6% increase, and Bank of America added 246,693 shares, a 12.9% increase to 2,158,140 ADS worth $28.6 million.
IMC-Chicago more than doubled its stake to 1,085,529 ADS, though the Dutch firm is a market maker whose positions reflect trading inventory rather than a view on the company.
Other Sellers
Beyond Goldman Sachs, the sell side was spread across smaller reductions.
Marshall Wace cut 974,742 shares, an 89.3% reduction to 116,825, and JPMorgan Chase sold 771,414 for a 94.8% cut to 42,104 — the steepest percentage reduction of any sizeable holder on the register.
SG Americas Securities cut 692,237 shares, a 64.9% reduction to 374,936.
BlackRock trimmed its stake by 684,227 shares, a 23.5% decrease, to 2,227,970 ADS worth $29.5 million.
The world’s largest asset manager had been building its XPeng position in prior quarters before reversing course, though most of its holdings sit in index and exchange-traded vehicles, where changes track benchmark weightings and fund flows rather than an investment view.
BNP Paribas Financial Markets cut 531,886 shares and SIH Partners 471,841.
Primecap Management, the second-largest holder at 12,515,757 shares, made only a marginal adjustment, cutting 217,230 ADS — a 1.7% reduction that left its $165.7 million position largely intact.
New Entrants and Exits
A total of 41 institutions opened new positions totalling 3,358,405 shares.
Bamco, the Baron Capital affiliate, was the largest at 1,014,717 shares, or 30.2% of everything the new entrants brought in, followed by BNP Paribas Asset Management at 715,142 and Peak6 at 480,362.
On the exit side, 53 institutions fully liquidated holdings totalling 4,777,264 shares.
Temasek Holdings (Private) Ltd. was the largest, disposing of all 1,194,538 shares it held at the end of March.
The Singapore sovereign wealth fund had maintained a position in XPeng for several quarters before exiting entirely during the April-to-June period.
Perseverance Asset Management International gave up 800,000 shares and Kadensa Capital 694,870.
Ownership Context
XPeng‘s 284 institutional holders represent a slight decline from the 286 filers reported at the end of the first quarter, even as total shares held climbed.
Alibaba Group Holding remained the largest institutional investor at 33,537,232 shares worth $444.0 million, unchanged from the prior quarter.
TMT General Partner held steady at 10,285,837 shares, while Ghisallo Capital Management and Primavera Capital Management also reported no change in their respective positions of 7,500,000 and 3,306,567 shares.
Not every line on the register is dated June 30. Two Sigma Advisers is shown as of December 31, 2025, and Wolverine Trading, Point72 Europe and several smaller holders as of September 30, 2025.
Each XPeng ADS represents two Class A ordinary shares, so the 128,223,905 held by institutions equates to about 256.4 million ordinary shares, or roughly 16.4% of the 1,567 million outstanding.
XPeng delivered 103,295 vehicles in the second quarter, and 38,027 in July, taking cumulative deliveries through seven months to 204,004.
Exports reached a record 9,700 vehicles and kits in July, 25.5% of the month’s deliveries, while the Mona L03 launched globally in Munich on July 16 and the flagship GX generated more than $300 million of revenue in the month.
The company’s cumulative deliveries surpassed 1.2 million units worldwide as of the end of July.
Investment managers overseeing more than $100 million had until August 14 to disclose the positions they held on June 30.
