Written by Cláudio Afonso | LinkedIn | X
Calpers, the largest state public pension fund in the US, disclosed in its latest filing with the Securities and Exchange Commission (SEC) that it increased its position in electric vehicle maker Lucid Motors by 25% in the second quarter of the year.
Between April and June, California Public Employees’ Retirement System acquired 262,123 more Lucid shares to end the second quarter with more than 1.31 million shares.
As of Monday, Lucid has 676 institutional shareholders holding 1,658,897,854 shares, more than 71% of the outstanding shares.
The company’s largest shareholder is Saudi Arabi’s Public Investment Fund which owns 1,830,552,683 shares, nearly 66% of the company, per Fintel data.
The company has been ramping up its infrastructure in Saudi Arabia, as the kingdom takes on a more significant role in Lucid through increased investment from the Public Investment Fund (PIF) and a growing market share.
Also, Jane Street Group disclosed recently in its quarterly portfolio update that increased its stake in Lucid Motors after having nearly offloaded its entire position in Lucid.
Peter Rawlinson, Lucid’s CTO and CEO, has recently reiterated the annual production target of 9,000 units for this year.
Written by Cláudio Afonso | LinkedIn | X
