Apple, Tesla, Nio, Palantir, And More: Stocks Norway's Largest Financial Services Group Bought In Q2

DNB Asset Management, a unit of Norway’s largest financial group DNB Bank ASA DNBBY, increased its position in Apple Inc. AAPL, Tesla Inc. TSLA and Nio Inc. NIO in the second quarter, while also initiating stakes in Palantir Technologies Inc. PLTR and Li Auto Inc. LI.

What Happened: DNB Asset Management said in a regulatory filing that it raised its stake in Apple to 3.86 million shares by acquiring 423,239 shares of the tech giant and also boosted its holdings in Tesla to 834,038 shares by buying an additional 713,216 shares in the EV maker.

Further, the firm bought an additional 582,664 shares in Nio to end the quarter with 618,585 shares in the Chinese electric vehicle maker.

In addition, the asset manager raised its stake in hydrogen fuel cell maker Plug Power Inc. PLUG to 435,885 shares by purchasing an additional 348,088 shares and upped its stake in renewable natural gas company Clean Energy Fuels Corp. CLNE to 737,459 shares with the purchase of an additional 40,344 shares.

DNB Asset Management initiated stakes in software maker Palantir Technologies and Chinese EV maker Li Auto by buying 49,559 and 14,299 shares in the two companies, respectively.

Meanwhile, DNB Asset slashed its holding in Intel Corp. INTC by nearly half to 809,214 shares. It also trimmed its holdings in Facebook Inc. FB to 2.2 million shares by selling 916,874 shares and sold 8,939 shares in Jack Dorsey-led Square Inc. SQ for a final stake of 51,953 shares.

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Why It Matters: Companies such as Apple, Nio, Palantir Technologies and Clean Energy are seeing increased interest from retail investors. Apple is seeing higher interest amid rumors that the company’s new iPhone series remains on track for a September launch.

Meanwhile, shares of Nio and other U.S.-listed Chinese stocks are seeing weakness in recent days following the Chinese government’s crackdown on Chinese ride-hailing company DiDi Global Inc. DIDI.

Intel said in late June that it is delaying the production of one of its newest chips, code-named Sapphire Rapids, to the first quarter of 2022.

Price Action: Apple shares closed 1.3% higher in Friday’s trading session at $145.11, while Tesla shares closed 0.6% higher at $656.95.

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