Giant Investor Bought EV Stocks Tesla and NIO, and Microsoft. Here’s What It Sold.

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A giant asset manager recently disclosed big changes in U.S.-listed investments, including some in electric-vehicle makers.

Munich Ergo AssetManagement GmbH, which manages investments for reinsurance giant Munich Re, bought more shares of electric-vehicle firms Tesla (ticker: TSLA) and NIO (NIO), and nearly tripled holdings of Microsoft (MSFT) stock in the first quarter. MEAG, as the investment manager is known, also sold nearly all of its Exxon Mobil (XOM) shares in the quarter. MEAG disclosed the trades, among others, in…