Tony Aquila Boosts Canoo Stake to 62.5M Shares in Latest SEC Filing

According to SEC filings tracked by Fintel, Canoo CEO Tony Aquila has significantly expanded his ownership stake in the Los Angeles-based electric vehicle company. His latest 13D/A disclosure reveals a position of 62,479,217 Class A shares, representing 19.2% of the company—a notable increase in absolute share count, though his percentage ownership has shifted compared to earlier periods.

CEO’s Strategic Move: Why Tony Aquila is Increasing GOEV Ownership

Tony Aquila’s expanding position reflects continued confidence in Canoo’s innovative approach to automotive design and technology. The company distinguishes itself through a unique business model that prioritizes customer-centric solutions and pioneering EV technologies, positioning itself as a disruptor in the traditional automotive landscape.

When comparing Tony Aquila’s current filing to his previous disclosure from late 2021, his share count jumped by approximately 21%, climbing from 51.6 million to 62.5 million shares. However, this growth in absolute shares came amid changes in the company’s overall cap structure. The nuanced shift in percentage ownership—down from 21.6% to 19.2%—suggests capital activities occurred during this period, even as Tony Aquila maintained strong confidence through increased holdings.

Institutional Players Respond: How Major Investors Are Adjusting GOEV Holdings

The broader investment community shows mixed signals around Canoo. Several major institutions have been adjusting their GOEV positions:

Invesco Ltd. currently holds 7.07 million shares (2.18% ownership), representing a modest increase of 1.54% from prior filings. However, the firm reduced its overall portfolio allocation in GOEV by 89.88% last quarter—suggesting a shift toward other opportunities despite maintaining its core position.

Bank of America Corp shows more aggressive accumulation, with holdings up 41.56% to 944,228 shares. The institution increased its portfolio allocation in GOEV by 82.38% over the same period, signaling renewed interest in the EV play.

Geode Capital Management holds 2.73 million shares (0.84% ownership) after boosting its position by 13.12%, and increased portfolio allocation by 20.80%—a bullish indicator among institutional players.

Northern Trust Corp and Charles Schwab Investment Management have also expanded their absolute holdings, though with varying levels of portfolio emphasis, indicating selective interest rather than broad conviction.

Market Sentiment Shift: What the Broader Fund Picture Reveals About Canoo

The overall institutional landscape presents a complex picture. Across 272 funds and institutions with reported positions in Canoo, the count decreased slightly by 4 holders. However, total shares owned by institutions grew 8.14% to 52.7 million shares over three months, showing net institutional accumulation despite slightly fewer participants.

Average portfolio weight across all funds dedicated to Canoo Class A stands at 0.0233%, down 11.67% from earlier periods. This metric indicates that while institutions are increasing absolute holdings, they’re keeping Canoo as a modest-sized position within diversified portfolios—a prudent approach given the company’s growth-stage status.

Tony Aquila’s continued investment alongside selective institutional accumulation by firms like Bank of America paints a picture of conviction among key stakeholders, even as some traditional investors trim exposure. The data suggests ongoing belief in Canoo’s long-term potential, though investors remain appropriately cautious given the competitive EV landscape and execution risks inherent in automotive ventures.