RWC Asset Advisors Sells Out of Entire Nio Position for $79.8 Million

2026-02-22 20:44:20

What happened

According to the SEC filing dated Feb. 17, 2026, RWC Asset Advisors sold its entire stake in Nio, reducing its holdings by 10,467,320 shares. The estimated trade value was $79.76 million based on the average share price during the quarter. The fund reported no Nio shares held at the end of the year.

What else to know

Top holdings after the filing:

NYSE:SQM: $100.64 million (19.1% of AUM)
NYSE:VALE: $85.00 million (16.1% of AUM)
NYSE:EMBJ: $79.76 million (15.1% of AUM)
NYSE:GFI: $75.57 million (14.3% of AUM)
NYSE:BABA: $66.01 million (12.5% of AUM)

As of Feb. 13, 2026, Nio shares were priced at $4.95, up 16.2% over the past year, outperforming the S&P 500 by 4.41 percentage points.

The position was previously 13.1% of the fund’s AUM as of the prior quarter.

Company overview

Metric	Value
Revenue (TTM)	$10.50 billion
Net Income (TTM)	($3.30 billion)
Price (as of market close 2/13/26)	$4.95
One-Year Price Change	16.20%

Company snapshot

Nio designs, manufactures, and sells smart electric vehicles, including SUVs and sedans, as well as related energy and service solutions such as battery swapping, charging infrastructure, and after-sales services.
The company generates revenue primarily from vehicle sales, complemented by recurring income streams from power solutions, maintenance, insurance, and used vehicle services.
It targets consumers in China seeking premium electric vehicles, focusing on technologically advanced, service-oriented offerings.

Nio is a leading Chinese electric vehicle manufacturer with a broad portfolio of smart SUVs and sedans, supported by vertically integrated energy and service infrastructure. The company leverages proprietary battery swapping technology and a robust ecosystem of charging and after-sales services to differentiate itself in the competitive EV market. Nio’s strategy emphasizes innovation, user experience, and recurring service revenues to drive growth and customer loyalty.

What this transaction means for investors

Nio had an exciting year in 2025. It introduced two new brands that have been contributing to record sales. In addition to its primary brand, it now includes the Firefly and Onvo brands, offering more budget-friendly, family-oriented options. These expansions to its vehicle lineup have helped Nio reach EV delivery milestones.

The company realized its two highest monthly unit deliveries ever in October and then again in December. Those are the only two months with over 40,000 deliveries.

RWC Asset Advisors didn’t own any Nio stock as of June 30, 2025, but it loaded up in Q3. Investors may wonder, then, why the asset manager completely sold out during the fourth quarter. Simply put, it may have felt a sharp run higher in Nio stock provided an opportunity to take profits.

The stock jumped by more than 25% in late Q3, driven by a significant surge in Nio’s vehicle deliveries. It’s never a bad idea to take profits. But long-term Nio stockholders can also be optimistic. The company issued a “profit alert” earlier this month.

Nio’s announcement indicated that the company anticipates achieving its first-ever adjusted operational profit in the fourth quarter. The projected range of $100 million to $172 million reflects a robustly profitable operational quarter, excluding share-based compensation expenses.

While RWC’s short-term trade looked profitable, holding Nio shares for a more extended period could also pay off for Nio investors.

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