Lucid Motors saw a modest increase in holdings by five Schwab-managed ETFs and mutual funds in the second quarter of 2025, regulatory filings show.
The largest position was held by the Schwab U.S. Mid-Cap ETF (SCHM), which raised its stake by 2.60% to 3,111,189 shares as of July 25.
The fund, which tracks the Dow Jones U.S. Mid-Cap Total Stock Market Index, had $12 billion in net assets and 496 individual holdings. Based on the latest Lucid closing price of $2.92, SCHM’s stake would be valued at approximately $9.09 million.
The Schwab U.S. Large-Cap ETF (SCHX) increased its holdings by 2.69% to 1,135,355 shares.
The fund tracks the Dow Jones U.S. Large-Cap Total Stock Market Index and manages $57.9 billion in assets across 751 stocks. SCHX’s Lucid position would be worth about $3.32 million.
Three other Schwab-managed funds disclosed smaller adjustments.
The Schwab U.S. Broad Market ETF (SCHB) increased its stake by 0.17% to 700,114 shares. The Schwab U.S. Large-Cap Value ETF (SCHV) added 0.84%, bringing its total to 591,135 shares.
The Schwab 1000 Index ETF (SCHK) reported a 2.72% increase, lifting its stake to 91,373 shares.
In total, the five Schwab vehicles held 5,629,166 shares in Lucid Motors at the end of the second quarter, up from 5,486,001 shares in the previous quarter.
That represents a net increase of 143,165 shares, or 2.61%. If the funds have maintained those positions, their combined stake would now be worth approximately $16.45 million at current market prices.
Three other Schwab funds — the Schwab Total Stock Market Index Fund (SWTSX), the Schwab 1000 Index Fund (SNXFX), and the Schwab U.S. Mid-Cap Index Fund (SWMCX) — also held Lucid Motors shares as of their most recent disclosures dated June 24.
However, those filings did not reflect any share changes for SWTSX and SNXFX, and it remains unclear whether they represent final Q2 updates or interim positions.
As of Sunday, those three funds have not yet filed full quarter-end portfolio updates for the period ended June 30.
In addition to the ETF-level changes, Charles Schwab Investment Management Inc. increased its direct holding in Lucid Motors by 2.19% during the first quarter of the year.
It ended March holding 6,740,395 shares, up from 6,595,701 shares three months earlier. Charles Schwab Investment Management Inc. has not yet filed its quarterly portfolio update, where it will reveal if its stake in Lucid changed between April and June.
As reported on Saturday, five Fidelity-managed funds made small adjustments to their holdings in the EV maker during the second quarter of the year.
Earlier in the week, IMC-Chicago, the US subsidiary of Dutch market-making firm IMC, trimmed its common equity position in Lucid Motors while increasing its bearish options exposure.
The firm disclosed a reduction in common shares and a simultaneous increase in put option contracts, indicating a more defensive stance heading into the second half of the year.
Lucid’s largest shareholder remains Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), which holds an estimated 64% stake in the company.
In an interview with Bloomberg shortly after the reverse stock split announcement, Winterhoff dismissed speculation that the reverse split was intended to address potential Nasdaq delisting risks.
The stock surged more than 60% to $3.69 earlier this month following a joint announcement with Uber and autonomous delivery startup Nuro, but has since lost roughly 20% of its value. It closed on Friday at $2.92.
