Written by Cláudio Afonso | LinkedIn | X
The Consumer Discretionary Index Fund (VCDAX) from Vanguard — the world’s second-largest asset manager — updated its portfolio unveiling that slashed its position in the U.S.-based EV maker Canoo by nearly 94%.
In the same form, VCDAX reported increased its stake in Lucid Motors by 12.54% during the second quarter.
As of the last day of May, VCDAX owned 160,551 shares valued at $361,240 marking a 93.38% significant reduction from the previous report filed on April 29, where the fund disclosed holding 2,426,945 Canoo shares.
| File Date | Effective Date | Reported Shares | Shares Ch. | Shares Ch. (%) |
|---|---|---|---|---|
| 2024-07-26 | 2024-05-31 | 160,551 | -2,266,394 | -93.38 |
| 2024-04-29 | 2024-02-29 | 2,426,945 | 638,476 | 35.70 |
| 2024-01-29 | 2023-11-30 | 1,788,469 | 701,204 | 64.49 |
| 2023-10-30 | 2023-08-31 | 1,087,265 | 755,698 | 227.92 |
| 2023-07-31 | 2023-05-31 | 331,567 | 6,520 | 2.01 |
| 2023-04-28 | 2023-02-28 | 325,047 | 226,241 | 228.97 |
| 2023-01-27 | 2022-11-30 | 98,806 | 54,813 | 124.59 |
| 2022-10-31 | 2022-08-31 | 43,993 | 10,053 | 29.62 |
| 2022-08-01 | 2022-05-31 | 33,940 | -2,339 | -6.45 |
| 2022-04-29 | 2022-02-28 | 36,279 | 2,081 | 6.09 |
| 2022-01-31 | 2021-11-30 | 34,198 | 1,225 | 3.72 |
| 2021-10-29 | 2021-08-31 | 32,973 | 3,034 | 10.13 |
| 2021-07-30 | 2021-05-31 | 29,939 | 29,939 | — |
Vanguard’s highest reported ownership of Canoo shares was 2,426,945 on April 29. The fund first acquired shares in the EV maker on July 30, 2021, starting with 29,939 shares.
Over the years, VCDAX increased its holdings, peaking in April 2024, before this recent dramatic reduction.
The company went public via a merger with Hennessy Capital Acquisition Corp IV, a special purpose acquisition company (SPAC), in December 2020.
The merger valued Canoo at an implied $2.4 billion and was designed to provide approximately $600 million in gross proceeds to support the production and launch of their EVs.
As of the time of writing, the company’ market cap stands at $144.08 million.
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.
Last 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
