Lithium Americas
LAC
About: Lithium Americas is a pure-play lithium producer. The firm owns 62% of one resource, Thacker Pass, which is located in northwest Nevada, with automaker General Motors owning the remaining 38%. Thacker Pass is under construction and expected to begin production in 2028. Thacker Pass is one of the largest known lithium resources in the world. The project would be the first clay-based asset to enter production, and we estimate it will be in bottom half of the global cost curve. Management plans to develop Thacker Pass into a fully integrated lithium production site, with downstream refining capabilities on site, and will sell into the lithium chemical market.
Employees: 79
Fund manager confidence
Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)
10% more repeat investments, than reductions
Existing positions increased: 54 | Existing positions reduced: 49
1% more call options, than puts
Call options by funds: $11.9M | Put options by funds: $11.8M
0% more capital invested
Capital invested by funds: $129M [Q1] → $129M (+$420K) [Q2]
0.13% more ownership
Funds ownership: 21.75% [Q1] → 21.87% (+0.13%) [Q2]
0% more funds holding in top 10
Funds holding in top 10: 1 [Q1] → 1 (+0) [Q2]
6% less funds holding
Funds holding: 213 [Q1] → 200 (-13) [Q2]
30% less first-time investments, than exits
New positions opened: 23 | Existing positions closed: 33
Financial journalist opinion
