Baillie Gifford Increases Bets On These Tesla, Alibaba China Rivals In Q3 — Here Are Its Other Trades

Edinburgh-based investment management company Baillie Gifford has sold over 7 million shares of Chinese EV-maker Li Auto Inc (NYSE: LI) during the third quarter while lapping up over 50,000 shares of peer Nio Inc (NYSE: NIO), according to 13 F filings of the company.

The fund also loaded up on shares of Chinese agri-tech company Pinduoduo Inc (NASDAQ: PDD), having bought over 110,000 ADRs of the company during the quarter, taking its holding to $1.76 billion, according to Whale Wisdom.

Pinduoduo launched its cross-border e-commerce platform, Temu, in early September, targeting the U.S. before potentially expanding to other markets. The platform boasts a wide range of items and has been gaining momentum.

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EV Holdings: It is interesting to note that the fund’s purchase of Chinese shares comes during a quarter when many fund managers have reduced their holdings of China stocks ahead of the Communist Party Meet. Baillie Gifford currently holds over $1.5 billion worth of Nio ADRs while it reduced its holding of Li Auto ADRs to $134 million, according to Whale Wisdom.

Nio has registered upbeat deliveries in the third quarter. The EV maker delivered 31,607 vehicles in the three months ended September, up 29.3% year-over-year, and achieved record-high quarterly deliveries. The stock is down over 38% in the last month.

In the same period, Li Auto delivered 26,524 vehicles, representing a 5.6% year-over-year increase. Cumulative deliveries of Li Auto vehicles reached 211,015 as of end-September. Shares of Li Auto have declined over 40% in the last month.

Top Holdings: Baillie Gifford’s top holdings include Tesla Inc (NASDAQ: TSLA) and Moderna Inc (NASDAQ: MRNA), according to Whale Wisdom.

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