Goldman Sachs’ (NYSE: GS) most recent 13-F filing revealed major changes in the banking giant’s long-standing electric vehicle (EV) investments.
Specifically, the document revealed that the corporation decreased its position in the Saudi-backed Lucid (NASDAQ: LCID) by an additional 19%, reducing the number of shares owned by 158,971: from 849,097 at the end of the fourth quarter (Q4) of 2025 to 690,126 at the end of Q1, 2026.
Furthermore, the LCID stock price performance within the timeframe means that the value of the holding decreased by an even greater 27% from just under $9 million to slightly below $6.6 million.
Year-to-date (YTD), Lucid shares are down 46.26% and are, at press time, changing hands at $5.68.
Goldman Sachs increases Rivian stock position by 56%
Simultaneously, Goldman Sachs appears to have taken a more bullish stance on another beleaguered EV maker: Rivian (NASDAQ: RIVN).
Indeed, at the end of Q4, 2025, the banking giant held 5.7 million RIVN shares worth approximately $112.6 million, while at the end of Q1 of the ongoing year, it held 8.9 million worth roughly $134 million.
Notably, while the size of the Rivian stock position increased by 56%, the equity’s 2026 performance ensured that its value rose by only 19%.
RIVN shares are 30.79% down YTD and have fallen approximately 90% to $13.64 since Goldman Sachs initially took a stake in the EV maker in Q4 2021.
Goldman Sachs’ top stock positions – revealed
Elsewhere, despite the large relative changes in the Lucid and Rivian stock positions, it is noteworthy that the two firms represent an extremely small portion of the overall investment portfolio, worth a total of $871 billion.
The same cannot be said about the banking giant’s largest positions. For example, Nvidia (NASDAQ: NVDA) is at the top spot with a 181 million share position worth approximately $31.5 billion: 3.6% of the total.
Apple (NASDAQ: AAPL) is a similarly impressive holding with over 106 million shares worth about $27 billion at the end of Q1, 2026. The third-biggest position is represented by the famous State Street SPDR S&P 500 ETF Trust (SPY) exchange-traded fund (ETF), which accounted for 2.7% of the portfolio.
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