Written by Cláudio Afonso | LinkedIn | X
Earlier this week, Fidelity published its updated portfolio as of the end of the second quarter disclosing that has drastically reduced its position in the EV startup Canoo across four funds.
Fidelity Total Market Index Fund (FSKAX) reported owning 88,385 shares valued at nearly $200,000 as of the end of May after dumping 90% of its position in Canoo.
In the previous form referring to the first quarter of the year, the fund disclosed 912,467 shares. According to the latest SEC filings, FSKAX disclosed owning 3,832 total holdings in its portfolio valued at about $92.4 billion.
The Series Total Market Index Fund from Fidelity (FCFMX) sold 91.38% of its stake in the EV maker last May owning now slightly more than 66 thousand shares. Previously, FCFMX owned 766,128 shares, as per Fintel data.
The Extended Market Index Fund (FSMAX) also reduced its position from 4,553,681 shares to just 278,017, a cut of 93.89% during the second quarter of the year.
| File Date | Investor | Previous Shares | Shares as of Q2 | Shares Change |
|---|---|---|---|---|
| July 26, 2024 | FCFMX – Fidelity Series Total Market Index Fund | 766,128 | 66,069 | -91.38% |
| July 26, 2024 | FSMAX – Fidelity Extended Market Index Fund | 4,553,681 | 278,017 | -93.89% |
| July 26, 2024 | FSKAX – Fidelity Total Market Index Fund | 912,467 | 88,385 | -90.31% |
| July 26, 2024 | FNCMX – Fidelity Nasdaq Composite Index Fund | 646,026 | 28,088 | -95.65% |
Lastly, Fidelity’s Nasdaq Composite Index Fund (FNCMX) sold about 618,000 shares between April and May having now about $56,500 worth of Canoo shares. FNCMX’s cut reached nearly 95.7%.
As recently reported by EV, the Consumer Discretionary Index Fund (VCDAX) from Vanguard — the world’s second-largest asset manager — slashed its position in Canoo by nearly 94%.
In the same form, VCDAX reported increased its stake in Lucid Motors by 12.54% during the second quarter.
Last week, the company’s Vice President of government affairs, ESG and partnerships Chris Moore announced his departure from the company.
After spending nearly three years at the company, Moore leaves Canoo to join the United Nations Foundation as an Executive Director for Global Health Advocacy and Global Health Director for the Better World Campaign.
Earlier in the week, the US manufacturer filed an S-3 registration statement for a mixed-shelf offering, three weeks before publishing its second quarter financial results scheduled for August 14.
The registration statement from the electric vehicle (EV) maker covers the potential issuance of a range of securities, including common stock, preferred stock, debt securities, warrants, rights, and units.
The second quarter results, scheduled to be reported on August 14, will be followed by a conference call as shareholders expect updates from the several pilot programs the company has been involved in.
Written by Cláudio Afonso | LinkedIn | X
