Dimensional Fund Advisors more than doubled its stake in electric vehicle maker Lucid Group during the first quarter of 2025, a securities filing showed.
The asset manager held 8,096,150 Lucid shares as of March 31, up from 3.82 million at the end of 2024, and is currently Lucid’s twelfth largest institutional shareholder.
The latest increase represents Dimensional’s highest stake in the Newark-based EV maker since it initiated a position in the second quarter of 2023 with 976,382 shares.
After trimming its holdings by 60% to 1.38 million shares in the second quarter of 2024, the firm nearly tripled its position in the following quarter.
Dimensional also disclosed it held 4,755,902 shares of Tesla as of the end of the first quarter. Its position in Rivian rose 76.4% to a record 5,322,485 shares.
As of the end of 2024, the firm managed nearly $777 billion in assets.
Dimensional ranks as the twelfth-largest institutional investor in Lucid, according to Nasdaq data, behind firms such as Vanguard, UBS, and BlackRock. The Saudi Public Investment Fund remains Lucid’s largest shareholder, holding a controlling stake of over 60%.
Lucid had 547 institutional investors holding more than 2 billion shares as of the end of the first quarter, up nearly 30% from 1.7 billion shares at the end of 2024.
Vanguard remains Lucid’s largest institutional shareholder, increasing its stake by 615,108 shares in the first quarter to a total of 110.9 million shares. UBS overtook BlackRock to become the second-largest holder, boosting its position by 33 million shares to reach 57.12 million.
Citadel also doubled its stake in the EV maker during the first quarter. The firm held 6,730,074 shares by the end of March, a new record stake and a 116.34% increase from the end of last year, when it held just over 3 million.
Nuveen, an asset manager overseeing $1.3 trillion in assets, initiated a new position in Lucid during the latest quarter, acquiring nearly 3.4 million shares. It ranked 19th among the company’s institutional shareholders.
Earlier this week, Faisal Sultan was promoted to President of Middle East. Lucid Motors is preparing to enter additional markets in the region, such as Qatar, “very soon.”
