Barclays increased its stake in the US electric vehicle maker Lucid Motors by 146.67% in the second quarter of 2025, according to a filing released on Wednesday.
The UK bank acquired 2,159,010 shares between April and June, lifting its holdings to 3,631,074 shares valued at about $8.5 million based on Lucid‘s $2.34 closing price on Wednesday.
The move placed Barclays among Lucid’s top 20 institutional shareholders and marked its largest position in the stock since first opened a stake in early 2022.
The latest increase follows a period of significant fluctuations in its holdings. Barclays first reported a stake in Lucid in the first quarter of 2022 with 793,738 shares.
It cut the position slightly to 751,229 shares in the second quarter of that year, before a sharper reduction in the third quarter to 399,723 shares.
In the final quarter of 2022, the bank more than doubled its holdings to 1,090,627 shares, followed by a 33.6% increase in the first quarter of 2023 to 1,456,838 shares.
By the second quarter of 2023, Barclays held 1,636,549 shares, before adding another 533,943 shares in the third quarter to reach 2,170,492 shares — a level that would remain one of its highest until late 2023.
In the final quarter of 2023, the stake climbed to 2,574,813 shares, its peak to that point, before being cut sharply by 42.17% in the first quarter of 2024 to 1,489,053 shares.
The bank partially rebuilt its position in the second quarter of 2024 to 1,715,979 shares and again in the third quarter to 2,044,797 shares.
That figure slipped to 1,393,134 shares in the final quarter of 2024, marking its steepest quarterly drop, before edging higher to 1,472,064 shares in the first quarter of 2025.
Other institutional investors also raised their positions in Lucid during the second quarter.
BlackRock, the company’s third-largest shareholder, disclosed on Tuesday that it bought 4.34 million shares in the period, taking its stake to just under 53.7 million shares.
Vanguard, Lucid’s largest institutional investor, made a marginal addition of 304,176 shares, a 0.27% increase, to hold 111,238,011 shares valued at more than $250 million.
Dimensional Fund Advisors, Lucid’s seventh-largest shareholder, reported more than doubling its stake to 17.6 million shares. UBS, the second-largest shareholder, has not yet filed its second-quarter update.
Lucid’s top five institutional shareholders also include D.E. Shaw & Co. and Geode Capital Management. Geode reported earlier this week that it had lifted its stake by 7.4% to a record 22.64 million shares by the end of June.
The company remains majority-owned by Saudi Arabia’s Public Investment Fund, which holds a stake of more than 60%.
Lucid shares have fallen 25.4% so far this year and 28.1% over the past 12 months.
The company is set to unveil a new concept vehicle based on its Gravity SUV later this Thursday at the Pebble Beach Concours d’Elegance.
A new teaser video shared on Wednesday revealed that the concept vehicle, named Gravity X, is a dedicated off-road version.
