Abstract: A friction modifying lubricant additive is provided comprising a base oil, colloidal nanocarbon particles, and a fluorine containing oligomeric dispersant. The fluorine containing oligomeric dispersant includes an anchoring group, a lipophilic hydrocarbon group, and a fluorinated oleophobic group. Further, a friction modifying lubricant additive is provided comprising a base oil, colloidal nanocarbon particles, a fluorine containing oligomeric dispersant, and at least one component selected from the group consisting of an antifriction component, an antiwear component, and an extreme pressure component. In another aspect, a method of manufacturing a lubricant additive is provided, the method comprising the step of mixing together a fluorine containing oligomeric dispersant, a dispersion of colloidal nanocarbon particles in a first base oil, and a second base oil.