Point72 increased its holdings in XPeng by 695 percent in the fourth quarter, but sold all of its shares in Li Auto. It does not hold shares of NIO.
Point72 Asset Management, led by legendary US investor Steven Cohen, was one of the institutions that increased its position in XPeng in the fourth quarter of last year.
Point72 held 745,600 shares of XPeng at the end of the fourth quarter, up 695 percent from 93,800 at the end of the third quarter last year, according to its Form 13F filing with the SEC on Monday.
The value of Point72's holdings in XPeng increased more than 1,026 percent to $37.5 million at the end of the fourth quarter from $3.33 million at the end of the third quarter.
Point72 held 141,500 shares of Li Auto at the end of the third quarter, valued at about $3.72 million. At the end of the fourth quarter, it no longer held shares of Li Auto.
Point72 did not own shares of NIO at the end of the third quarter or at the end of the fourth quarter.
In the fourth quarter of last year, NIO was down 11 percent, XPeng was up 41.6 percent and Li Auto was up 22 percent.
Cohen is known to many in China because Bobby Axelrod, the lead character of the Showtime series Billions, which is popular with many here, is based on him.
Billions, which aired back in 2016, is seen by many as a series that investors should be recommended to watch.