The strong quant/active buying (D.E. Shaw, Dimensional, Norges) suggests a catalyst-driven thesis, but the 45-day 13F lag means these positions may already be stale. Monitor upcoming Q4 earnings and any production/delivery updates for confirmation. The heavy selling by Legal & General and National Bank of Canada signals ongoing institutional skepticism about Lucid's cash burn trajectory.
Executive Summary
In Q3 2024, 11 institutional buyers added $61.4M to LCID positions (led by D.E. Shaw's $32.6M increase and Schwab's $10.8M), while 8 sellers trimmed $6.9M (led by Legal & General's $4.7M reduction and National Bank of Canada's near-exit). The net $54.5M buying inflow is dominated by active/quant managers, suggesting a shared thesis around Lucid's long-term EV positioning despite ongoing cash burn. However, the 45-day reporting lag means these positions may have been unwound, and the stock's poor historical performance (avg T+20 win rate 56% but large negative outliers) warrants caution.
Key Financial Metrics
Institutional Positions
Net institutional flow: $54.5M
▲ Buyers (11)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| D.E. Shaw | DOUBLED | +1771.4% | $33.9M | $32.6M |
| Schwab | ADD | +84.6% | $18.0M | $10.8M |
| Dimensional Fund Advisors | DOUBLED | +175.8% | $13.5M | $9.9M |
| Norges Bank | DOUBLED | +442.4% | $8.0M | $6.9M |
▼ Sellers (8)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Legal & General Group | TRIM | -68.5% | $8.3M | -$4.7M |
| National Bank Of Canada | NEAR_EXIT | -98.7% | $1.1M | -$1.1M |
| Amundi | TRIM | -41.5% | $1.7M | -$526.6K |
| Alliancebernstein | TRIM | -43.9% | $1.7M | -$416.6K |
Key Facts
- 11 institutional buyers added $61.4M in new LCID positions during Q3 2024
- D.E. Shaw (quant) doubled its stake by $32.6M, now holding $33.9M
- 8 institutional sellers trimmed $6.9M, led by Legal & General's $4.7M reduction
- Net institutional inflow of ~$54.5M, concentrated in active/quant managers
- Schwab (mega-passive) added $10.8M, likely index-driven
- National Bank of Canada nearly exited (98.7% reduction)
Financial Impact
Net institutional buying of approximately $54.5M, with $75.6M in total buyer holdings vs $8.0M in seller holdings
Risk Factors
- 13F data is 45+ days stale; positions may have been reversed
- Lucid's cash burn and dilution risk remain unresolved
- Analyst consensus is only 5% bullish, with 6 sell/strong sell ratings
- Historical LCID reports show large negative T+5 outliers (-19% to -23%)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-LCID-2024-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 11, 2026 21d ago | 8-K | $4.16 $4.30 | ▲ +3.37% | ▲ +3.26% | — |
Aug 28, 2026 5w ago | 8-K | $4.85 $4.63 | ▲ +4.54% | ▲ +4.39% | — |
Aug 9, 2026 7w ago | Institutional Cluster | $6.61 $6.22 | ▼ −5.90% | ▼ −5.85% | — |
Aug 7, 2026 8w ago | 3 | $6.61 $6.22 | ▼ −5.90% | ▼ −5.85% | — |
Aug 4, 2026 8w ago | 8-K | $6.70 $6.54 | ▼ −2.39% | ▼ −2.74% | — |
Jun 22, 2026 14w ago | 8-K | $5.16 $5.92 | ▼ −14.73% | ▼ −16.80% | — |
Jun 11, 2026 16w ago | Institutional Cluster | $5.20 $5.36 | ▲ +3.08% | ▲ +2.40% | — |
Jun 1, 2026 17w ago | 8-K | $6.65 $5.12 | ▼ −23.08% | ▼ −20.33% | — |
Apr 29, 2026 22w ago | 8-K | $6.37 $6.19 | ▼ −2.83% | ▼ −4.55% | — |
Apr 20, 2026 23w ago | 3 | $7.11 $5.87 | ▼ −17.44% | ▼ −18.52% | — |
US Market Status
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