Tony Aquila Significantly Boosts His Holdings in Canoo as Institutional Interest Remains Mixed

According to recent SEC filings, Tony Aquila, the CEO of Canoo Inc., has substantially increased his personal stake in the electric vehicle company. The latest 13D/A disclosure reveals that Aquila now owns 62,479,217 Class A shares of Canoo (ticker: GOEV), representing 19.2% of the company’s outstanding equity. This marks a meaningful expansion of his position, even as his proportional ownership has shifted slightly due to overall capitalization changes.

Comparing the current filing with the previous disclosure from November 2021, Tony Aquila’s share count has climbed by 21.08%, jumping from 51,602,265 shares. However, the dilution effect across the broader shareholder base means his percentage stake compressed from 21.60% to 19.2%, a technical decrease of 2.40 percentage points. This dynamic—growing absolute holdings while proportional ownership declines—reflects the capital-raising environment many EV makers have navigated as they scale operations and fund development initiatives.

Canoo, headquartered in Los Angeles, has positioned itself as an innovator in the automotive space with a distinctive direct-to-consumer model and proprietary vehicle platform. The company’s strategic vision emphasizes customer-first approaches and unconventional engineering solutions aimed at disrupting traditional auto manufacturing.

CEO’s Aggressive Accumulation Strategy

Tony Aquila’s continued buying demonstrates confidence in the company’s long-term trajectory. The 21% increase in his shareholding over roughly four years signals that the CEO is willing to deploy capital to support his strategic vision, even amid the broader volatility affecting EV sector stocks. Insider accumulation patterns often serve as a barometer for management’s conviction about future prospects.

How Major Institutional Players Are Responding

While Tony Aquila consolidates his position, the institutional landscape around Canoo reveals a more nuanced picture. Several major asset managers have recently updated their allocations, with varying strategies:

Invesco Ltd. holds approximately 7.07 million shares (2.18% ownership), having increased its position by 1.54% from prior filings. However, the firm has significantly reduced its overall portfolio weighting in GOEV by 89.88% over the past quarter—a signal that despite buying shares, Invesco has trimmed its relative exposure to the company.

Geode Capital Management maintains a smaller stake of 2.73 million shares (0.84% ownership) but has taken a more bullish stance. The firm grew its GOEV holding by 13.12% and increased its fund allocation weight by 20.80% last quarter, suggesting positive conviction.

Northern Trust Corp owns 1.26 million shares (0.39%) with a 13.80% increase in share count, yet the institution reduced its portfolio allocation in GOEV by 58.40%—indicating a pull-back in relative commitment despite nominally adding shares.

Charles Schwab Investment Management Inc holds 1.07 million shares (0.33%) with a 10.31% share increase and a modest 0.75% boost to portfolio allocation, reflecting a steady but cautious approach.

Bank of America Corp has shown more pronounced interest, accumulating 944,228 shares (0.29%) with a substantial 41.56% jump in holdings. The firm also expanded its GOEV portfolio weighting by 82.38%, one of the more aggressive increases among major institutional players.

Overall Market Sentiment and Fund Positioning

The broader institutional picture adds context to Tony Aquila’s individual buying. According to Fintel’s tracking, 272 funds and institutions currently hold positions in Canoo Class A shares—a slight decrease of four owners (1.45%) from the prior period. This consolidation suggests some investors have exited, even as others have maintained or increased exposure.

The average portfolio weight allocated by all institutions to Canoo stands at 0.0233%, down 11.67% from previous levels. Despite this compression in relative weighting, total shares held by institutions have grown 8.14% over three months to approximately 52.75 million shares, signaling that while average fund interest has waned, accumulated institutional holdings continue to expand in absolute terms.

Fintel’s Fund Sentiment Score synthesizes this data into a quantitative ranking system, providing investors with a sense of whether the fund community is collectively buying or selling specific equities relative to broader market opportunities. For companies like Canoo, tracking these institutional shifts offers valuable signals about professional market positioning and confidence levels.

The combined picture—Tony Aquila’s aggressive personal accumulation, mixed but stable institutional participation, and expanding absolute share counts alongside diluted weightings—paints a portrait of a company in transition. The question for investors remains whether leadership’s confidence and selective institutional support indicate genuine upside potential or reflect a holding pattern as the EV sector matures and competitive pressures intensify.