Written by Cláudio Afonso | LinkedIn | X
On Friday, the Consumer Discretionary Index Fund (VCDAX) from Vanguard — the world’s second-largest asset manager — updated its portfolio unveiling that increased its stake in Lucid Motors by 12.54% during the second quarter.
After reporting the ownership of 1,299,746 shares in the first quarter of the year, VCDAX bought 163,032 in the last three months and holds now a total of 1,462,778 shares in the EV maker.
After slightly reducing its position by 2.68% in late 2023, the fund increased its position by 15.86% in the first quarter of this year and by 12.54% in the second quarter.
Based on Friday’s closing price of Lucid shares, the position of the VCDAX fund is valued at $4.95 million.
After Amazon with 7,342,431 shares, the biggest holding from the Consumer Discretionary Index Fund is the U.S. largest EV maker Tesla with 3,226,899 shares valued at nearly $639 million.
The fund also owns 4,537,768 shares of Ford valued at $56.9 million.
As of the end of the second quarter, VCDAX was holding a total of 304 stocks with a Median market cap of $124.5 billion. On Friday, Lucid’s stock closed at $3.38 per share resulting in a market cap of $7.80 billion.
In the first quarter of the year, the fund registered a total return of 4.67% while on the second quarter of 2024 the result was negative 1.57%, according to Vanguard’s website.
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.
Also on Friday, four Fidelity funds reported owning 8,480,947 Lucid shares combined.
Based on the latest closing price of Lucid shares, the position of the four Fidelity funds is valued at $28.67 million.
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.
Written by Cláudio Afonso | LinkedIn | X
