The market value of Bridgewater's holdings in Nio decreased by 22.58 percent during the third quarter, while its holdings in Xpeng and Li Auto decreased by 62.31 percent and 39.77 percent, respectively.

Bridgewater Associates, the world's largest hedge fund founded by well-known investor Ray Dalio, continued to increase its bet on Nio in the third quarter, while its positions in Xpeng Motors and Li Auto remained stable.

Bridgewater held 5,892,429 shares of Nio's US-traded ADRs at the end of the third quarter, up 366,307 shares, or 6.63 percent, from 5,526,122 shares at the end of the second quarter, according to its Form 13F filed with the SEC on Thursday.

This is the fifth consecutive quarter that Bridgewater has increased its position in Nio since the third quarter of last year, according to CnEVPost's tracking.

The market value of Bridgewater's Nio holdings was $92.92 million at the end of the third quarter, a decrease of $27.1 million, or 22.58 percent, from $120 million at the end of the second quarter.

While increasing its position in Nio, Bridgewater's positions in Xpeng and Li Auto remained largely stable during the third quarter.

At the end of the third quarter, the fund owned 2,161,554 shares of Xpeng's US-traded ADRs, up 2,276 shares or 0.11 percent from 2,159,278 shares at the end of the second quarter.

The latest market value of the fund's holdings in Xpeng was $25.83 million, down $42.70 million, or 62.31 percent, from $68.50 million at the end of the second quarter.

Bridgewater's holdings in Li Auto were 3,277,049 shares at the end of the third quarter, up 9,137 shares, or 0.28 percent, from 3,267,912 shares at the end of the second quarter.

The latest market value of Bridgewater's holdings in Li Auto was $75.4 million, down $49.79 million, or 39.77 percent, from $125.0 million at the end of the second quarter.

The fund did not hold any shares of Tesla or BYD in the third quarter.

During the third quarter, Nio fell 27 percent, Xpeng fell 64 percent and Li Auto fell 40 percent.

Baillie Gifford & Co's 13F filing, released last week, shows that the Scottish investment firm increased its holdings in Tesla, Nio and decreased its holdings in Li Auto during the third quarter.