Big Investor Bought Apple, Tesla Stock, and Sold Alibaba and XPeng

SectorFinancial Markets
CountryMiddle east

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A large asset manager made some big changes in its U.S.-traded stock investments.

DNB Asset Management bought more


(ticker: AAPL) and


(TSLA) shares in the first quarter, and slashed an investment in

Alibaba Group Holding

(BABA) American depositary receipts, and sold all ADRs of Chinese electric-vehicle firm


(XPEV). DNB Asset Management disclosed the trades, among others, in a form it filed with the Securities and Exchange Commission.

DNB Asset Management, a unit of Norway’s largest financial-services firm DNB, more...