Deutsche Bank’s position in EV maker Lucid Motors has increased by 31.3% during the first quarter of the year, according to its most recent quarterly portfolio update filed on Wednesday.
The German bank acquired 7,097 shares in the Newark, California-based company between January and March, bringing its total to 29,782 shares by the end of the first quarter.
In August 2025, Lucid executed a 1-for-10 reverse stock split while trading in the $2.00 to $3.00 range on a pre-split basis, with interim CEO Marc Winterhoff guaranteeing that the move was not intended to avoid delisting risk.
The stake was valued at $284,000 then, having plunged by $100,000 in the past month as the company’s stock continued to reach new record lows.
Deutsche Bank reentered the stock in the third quarter of 2025, with 25,975 shares.
The firm had formerly held a position in the special purpose acquisition company (SPAC) Churchill Capital Corp IV, with which Lucid merged in late 2021 for its Nasdaq debut.
During the final quarter of 2020, the Frankfurt-based bank held 400,000 shares in the CCCIV, worth $4 million then.
Deutsche Bank exited the position during the first quarter of 2021.
Deutsche Bank’s Portfolio
Deutsche Bank ended the first quarter with 3,563 holdings in its portfolio.
The bank has maintained a position of roughly 8 million shares in Tesla over the past three quarters.
In the first quarter of 2026, Deutsche Bank added 100,000 shares of the Elon Musk-led company, bringing the value of its stake to approximately $3 billion.
Meanwhile, Deutsche Bank reduced its exposure to Rivian for the second straight quarter, holding 1,879,129 shares at the end of March.
After nearly exiting its investment in Chinese EV company Nio in the fourth quarter of 2025, the bank sharply increased its position by acquiring 416,057 shares — a jump of 64,000%, according to Fintel.
By the close of the first quarter, Deutsche Bank’s stake in Nio was valued at $2.5 million.
Institutional Ownership
As of Wednesday, Lucid has 433 institutional shareholders with a combined total of over 254.6 million shares, Nasdaq data showed.
UBS disclosed earlier this week that it increased its stake in Lucid to a new record of 9.1 million shares.
The bank added 1,466,254 shares during the first three months of 2026, a 19.1% increase from the previous quarter.
With most institutions yet to report their quarterly portfolio updates, UBS ranks as Lucid‘s second-largest institutional shareholder — when excluding the company’s primary backer, Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF), and Uber.
Both companies disclosed in late April their quarterly portfolios.
According to Fintel, Uber held 37,753,583 shares in Lucid by the end of the first quarter — a share of 11.5% of its stock.
The ride-hailing giant invested in the Saudi-backed EV maker last July, when it announced that it would be purchasing up to 20,000 Gravity vehicles for a robotaxi fleet equipped with AV tech from Nuro.
The deal has since expanded — with the investment in Lucid raising to $500 million and the vehicle purchase jumping to 35,000 units, now including the upcoming mid-size platform too.
Stock Performance
Lucid shares have fallen sharply from their post-SPAC highs.
The premium EV brand debuted on the Nasdaq in July 2021 via a merger with special purpose acquisition company Churchill Capital Corp IV.
Last summer, Lucid executed a 1-for-10 reverse stock split while trading in the $2.00 to $3.00 range on a pre-split basis.
Interim chief executive Marc Winterhoff dismissed suggestions at the time that the move was driven by delisting concerns, framing it instead as a measure to attract institutional investors who face restrictions on holding low-priced securities.
Between September 2, when the split was implemented, and Tuesday, the stock has dropped by 68.4%.
The company went through successive all-time lows in the past few months, trading as low as $5.62 last week.
