Big Investor Bought Apple and Chinese EV Stocks NIO and Li Auto. Here’s What It Sold.

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A NIO vehicle. DNB Asset Management bought much Apple and NIO shares, started a involvement successful Li Auto, and halved an concern successful Intel.

GREG BAKER/AFP via Getty Images

A ample plus manager precocious made immoderate large changes successful its concern portfolio.

DNB Asset Management bought much Apple (ticker: AAPL) and NIO (NIO) shares, initiated an concern successful Li Auto (LI), and halved a presumption successful Intel (INTC) successful the 2nd quarter. The portion of Norway’s largest financial-services steadfast DNB disclosed the trades successful a signifier it filed with the Securities and Exchange Commission.

DNB Asset, which manages more than $70 cardinal successful assets, declined to remark connected the concern changes.

DNB Asset bought 423,239 further Apple shares to extremity the 2nd 4th with 3.9 cardinal shares of the iPhone maker.

Apple banal trailed the marketplace successful the archetypal fractional of 2021, managing a summation of 3.2% portion the S&P 500 index roseate 14.4%. So acold successful July, however, shares person added 6.0%, compared with the 1.7% summation successful the index.

Apple gained immoderate tailwinds arsenic investors turned their attraction to a potential autumn launch of the adjacent iPhone. Last month, we named Apple’s Tim Cook to our list of champion CEOs. The company, on with different big-tech peers, is facing renewed regulatory scrutiny.

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DNB Asset bought 582,664 much NIO American depository receipts to extremity June with 618,585 ADRs of the Chinese shaper of electrical vehicles. The plus manager besides initiated a presumption successful Chinese EV adjacent Li Auto with the acquisition of 14,299 ADRs; DNB Asset didn’t ain immoderate at the extremity of March.

NIO and Li Auto ADRs roseate 9.2% and 21.2%, respectively, successful the archetypal half, but they person respectively slipped 14.4% and 8.9% successful July, We’ve noted that some weakness this month successful some Chinese EV makers is owed to that country’s regulatory pressure connected Didi Global (DIDI), a ride-sharing institution that precocious listed successful the U.S. Both NIO and Li Auto have been reporting strong deliveries.

DNB Asset sold 722,908 Intel shares successful the 2nd quarter, slashing its concern to 809,214 shares of the spot giant. Intel banal roseate 12.7% successful the archetypal fractional of the year, and has been fundamentally level truthful acold successful July.

Intel said successful precocious June that it was delaying the production of a caller spot to the archetypal 4th of adjacent twelvemonth from precocious this year. The company, however, has benefited from strong PC demand, arsenic homebound bureau workers upgraded instrumentality to enactment online. The institution disclosed that it invested successful a payments company successful the archetypal quarter.

Inside Scoop is simply a regular Barron’s diagnostic covering banal transactions by firm executives and committee members—so-called insiders—as good arsenic ample shareholders, politicians, and different salient figures. Due to their insider status, these investors are required to disclose banal trades with the Securities and Exchange Commission oregon different regulatory groups.

Write to Ed Lin astatine and travel @BarronsEdLin.

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