Written by Cláudio Afonso | LinkedIn | X
Swedbank AB disclosed in a filing on Tuesday that it added 1,187,310 shares of electric vehicle startup Nio to its portfolio, valued at over $5.34 each by the end of the first quarter. With Tuesday’s closing price at $5.25 per share, the position is now valued at $6.23 million.
In the same filing, the bank disclosed owning 66,154 shares of the hybrid manufacturer Li Auto. On the last day of March, the shares were valued at over $2 million although given the recent drop in the stock price, the current value is below $1.4 million.
According to Swedbank’s latest SEC filings, its portfolio includes 707 holdings valued at nearly $60 billion. Microsoft is the biggest holding and constitutes slightly over 5 percent of the portfolio, followed by the chipmaker Nvidia at 3.54 percent and the tech giant Apple at 2.73 percent.
In April, Swedbank AB surpassed analyst profit estimates for the first quarter reporting a year-on-year increase in net income by 11 percent, reaching 8.43 billion kronor ($777 million), beating analysts’ estimates of 8.13 billion kronor.
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According to Fintel, there are currently 629 institutional shareholders holding a total of 350,336,979 shares in the Shanghai-based EV manufacturer. Key shareholders include BlackRock, Vanguard, Morgan Stanley, State Street Corp, Baillie Gifford & Co, and Goldman Sachs.
Institutional ownership reached an all-time high in early 2022, with nearly 600 million shares held by institutions, according to the data platform Fintel.
Last week, the Chinese conglomerate, Tencent Holdings, submitted a form to the Securities and Exchange Commission (SEC), revealing the sale of 28,454,077 shares of Nio. As a result, Tencent now holds 95,657,938 shares in the company. This marks a 22.93 percent decrease from their previous filing in June 2023.
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Meanwhile, CYVN Investments, an Abu Dhabi-based investment vehicle, currently holds nearly 419 million shares in Nio, representing slightly more than 20 percent ownership, according to Nio disclosures.
In December, Nio disclosed a new round of $2.2 billion investment from CYVN, emphasizing continued collaboration to pursue strategic and technology partnerships in international markets.
In early April, Baillie Gifford submitted a filing to the SEC revealing the sale of 96,011,757 shares of the EV manufacturer.
In their previous filing on January 26, the firm had reported owning 114,924,231 shares indicating that slashed its position in the company between late January and the end of March from 114,924,231 to 18,912,474 shares — a decrease of 83.54 percent.
Written by Cláudio Afonso | LinkedIn | X
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The post Swedbank AB Acquires $6.23M Stake in Nio and $2M in Li Auto first appeared on EV.