Hedge Fund Positions

As of March 31, Soros' investment funds held 101,796,000 shares of Nio's assets classified as "NOTE" for a total value of $84.36 million.

The world's largest hedge fund increased its stake in Nio by more than 70 percent in the first quarter, and doubled its stakes in both Xpeng and Li Auto.

Norges Bank increased its position in Nio by 31 percent, increased its position in Li Auto by 990 percent and cut its position in Xpeng by 20 percent in the fourth quarter.

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.

The world's largest hedge fund increased its position in Nio by 8 percent, reduced its position in Xpeng by 8 percent, and cut its position in Li Auto by 7.5 percent during the fourth quarter.

JPMorgan Chase increased its holdings in Nio by about 6 million shares, or 378 percent, compared with the end of the third quarter.

Greenwoods also bought an initial 14,285 shares of Tesla during the fourth quarter worth about $15 million. It does not hold any shares of Nio.

BlackRock increased its holdings in Nio by 2,412,164 shares and Li Auto by 1,851,864 shares, while decreasing its holdings in Xpeng by 425,701 shares in the fourth quarter.

Hillhouse Capital is losing money on its investments in both Nio and Xpeng, and Xpeng in particular is causing more serious losses for it.

What we didn't notice before is that Swiss National Bank, Switzerland's central bank, is also an investor in Nio.