Written by Cláudio Afonso | LinkedIn | X
Four Fidelity funds published on Friday the second quarter update on their holdings showing that, combined, they hold 8,480,947 shares in the electric vehicle (EV) maker Lucid Motors.
Based on Friday’s closing price of Lucid shares, the position of the four Fidelity funds is valued at $28.67 million. As of today, the largest investment fund from Fidelity is the Fidelity 500 Index Fund with a net asset value of about $515 billion.
Over the last quarter, Fidelity Total Market Index Fund (FSKAX) increased its holdings in the company by 2.91%, bringing its total to 1,626,278 shares.
The Fidelity Series Total Market Index Fund (FCFMX) added 31,914 shares raising its stake by 2.64% to a total of 1,238,580 shares.
The Fidelity Nasdaq Composite Index Tracking Stock (ONEQ) raised its stake in Lucid by 1.32% and holds now 563,925 shares.
| File Date | Fund | Shares | Shares Change (%) | Reported Value |
|---|---|---|---|---|
| 2024-07-26 | Fidelity Total Market Index | 1,626,278 | 2.91 | 4.62 Million |
| 2024-07-26 | Fidelity Extended Market Index | 5,052,164 | -0.92 | 14.35 Million |
| 2024-07-26 | Fidelity Nasdaq Composite Index Tracking Stock | 563,925 | 1.32 | 1.60 Million |
| 2024-07-26 | Fidelity Series Total Market Index | 1,238,580 | 2.64 | 3.52 Million |
The Fidelity fund which holds the highest number of shares in the EV maker, the Extended Market Index Fund (FSMAX), sold 46,714 shares slightly reducing its stake by 0.92% to 5,052,164 shares.
As of today, Lucid has 712 institutional shareholders holding a total of 1.66 billion with Saudi Arabia’s Public Investment Fund (PIF) owning about 60% of the company.
Earlier in the week, the custody banking giant BNY Mellon filed a new form with the SEC, reporting that added 581,082 shares in the EV maker.
On Wednesday, the company announced it has entered into a non-binding supply agreement with Graphite One for anode active materials (AAM).
Earlier this week, Lucid’s CEO Peter Rawlinson revealed the start of pre-production for the company’s second model, the Gravity SUV, at the manufacturing facility in Casa Grande, Arizona.
Scheduled to start production “in late 2024,” the three-row 7-seater SUV will have, as one of its competitors, the R1S from the California-based EV maker Rivian.
Speaking to CarBuzz, Lucid‘s CEO revealed he already tested Rivian’s SUV and said he’s “not worried”.
In the same interview, Rawlinson reiterated the company’s ambition to become a volume manufacturer and reach one million units sold per year. In the second quarter of the year, the company delivered 2,394 vehicles while producing 2,110 units.
On August 5, Lucid will publish its second-quarter financial results and it is expected an update from the management on the annual production guidance.
Written by Cláudio Afonso | LinkedIn | X
