The UBS purchase reversed a sharp Q1 decline, though its holdings remain far below their early-2025 peak.
- UBS added 6.92 million Nio shares in Q2, boosting its stake by 56.1% to $97.5 million.
- JPMorgan sold nearly 3.9 million shares, slashing its Nio position by 59% to 2.69 million shares.
- JPMorgan has now unloaded 79% of its record year-end Nio stake in just two quarters.
U.S.-listed shares of Nio, Inc. (NIO) climbed 0.4% overnight heading into Friday, as fresh filings revealed divergent moves by two Wall Street banks: UBS rebuilt its position in the Chinese EV maker, while JPMorgan continued to dismantle a once-record stake.
Nio’s U.S.-listed shares fell 1% on Thursday, extending its weekly slide to 5%.
UBS Boosts Nio Holdings By 56%
UBS added 6.92 million Nio American depositary shares during the second quarter, increasing its stake by 56.1% to 19.27 million shares as of June 30. The stake was valued at $97.5 million at Nio’s quarter-end price of $5.06.
The purchase reversed UBS’s first-quarter move, when it halved its stake from 24.5 million shares to 12.35 million. However, its latest position remains 21.3% below the end-of-2025 level and far short of its nearly 75 million-share peak in early 2025.
Among managers that had reported by Thursday, UBS held the largest disclosed Q2 position in Nio. The bank also raised its stakes in Li Auto by 81%, XPeng by 27% and Lucid by 46%, while modestly increasing its Tesla and Rivian share counts.
JPMorgan Sells 3.9M Nio Shares
JPMorgan sold nearly 3.9 million Nio shares during the quarter, reducing its stake by 59% to 2.69 million shares worth about $12.2 million at recent prices. The bank ended 2025 with a record 12.7 million-share position, then cut it by 48.2% in the first quarter. Across two quarters, JPMorgan has shed 10 million shares, or nearly 79% of its year-end stake.
Meanwhile, BlackRock trimmed its position by 11.8% to 9.46 million shares, while Deutsche Bank cut its stake by 18%. Citigroup returned to buying with a 37.7% increase, and IMC-Chicago more than doubled its holdings to 2.57 million shares.
Nio Delivery Momentum Holds
Nio delivered 107,658 vehicles during the quarter, up 49.4% year-over-year and 29% sequentially. July deliveries reached 35,934, taking the seven-month total to 227,057.
The core Nio brand delivered 20,008 vehicles in July, with ES8 volume returning above 10,000 units. However, flagship ES9 deliveries declined 26.5% sequentially in their first monthly drop.
Nio is now relying on outside capital to expand its battery-swap network while controlling spending. It recently transferred 36 jointly developed Wuhan stations to a state-backed partner, which owns the assets while Nio operates them.
The company has partnered with more than 40 state-capital platforms and financial institutions across 25 provinces, covering over 800 swap stations—about one-fifth of its network. Nio aims to add more than 1,000 stations this year but had installed only 341 as of Wednesday, bringing its total to 4,017. About 450 are expected in the fourth quarter.
How Do Retail Traders Feel About NIO?
On Stocktwits, retail sentiment for NIO has been ‘bearish’ over the past week amid ‘normal’ message volumes.
One user said, “$NIO I should’ve sold when it reached $65!!! It hovers $4 to $7!! Can’t even reach $10!!!!”
View this Stocktwits post
Another user said, “$NIO 5 years -90% return. Failed break out after failed break out. Back in penny stock territory. 8 years the Nasdaq has doubled since. You missed out on the biggest bull market in history to park your money in this flop.”
View this Stocktwits post
Nio’s U.S.-listed shares have declined 3% over the past year.
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