It’s no secret that Rivian (NASDAQ:RIVN) is a big name right now in the electric vehicle (EV) space. The EV manufacturer has been making headlines since its initial public offering (IPO), causing retail investors and institutional investors alike to dive head-first into RIVN stock.
Now, with the latest 13F deadline behind us, retail investors can take a glimpse into the portfolios of institutional investors as of Dec. 31 to see just how much they’ve been loving RIVN. The 13F is a form filed quarterly to the U.S. Securities and Exchange Commission (SEC) that is required for all institutional investors with at least $100 million in assets under management. In addition, the form discloses the U.S. public equity holdings of each fund and provides transparency to retail investors.
During Q4, Rivian was a hot commodity among several top performing institutional investors. Therefore, retail investors may be interested in who exactly is betting bit on the electric vehicle (EV) player. Let’s take a look at who bought into RIVN stock in Q4.
Which Institutional Investors Bought RIVN Stock During Q4?
- Coatue Management: Philippe Laffont’s hedge fund purchased a whopping 35.2 million shares, making Rivian the fund’s largest position. Coatue Management now owns a 3.94% ownership stake in the electric vehicle (EV) maker.
- Capital Research Global Investors: The $452 billion investment firm purchased 25.7 million shares of RIVN stock during the quarter. Rivian accounts for just over half a percent of the firm’s portfolio, which now owns a 2.88% ownership stake.
- Soros Fund Management: Legendary investor George Soros picked up 19.8 million shares during Q4. Rivian is now Soros’ largest position with a 28% portfolio weighting. After the purchase, Soros Fund Management owns a 2.22% stake in the EV company.
- D1 Capital Partners: The fund, led by its founder Dan Sundheim, purchased 15.5 million shares. Rivian is now D1’s second-largest position with a 9.7% portfolio allocation. In addition, D1 now has a 1.7% stake in Rivian.
- Dragoneer Investment Group: Led by Harvard alum Marc Stad, Dragoneer purchased 5.2 million shares during Q4. After the purchase, Rivian became Dragoneer’s third-largest holding. Additionally, the fund owns a 0.58% ownership stake.
Since Rivian had its IPO last November, no funds have sold RIVN stock. Investors will have to wait until the next quarterly 13F deadline on May 16 to see the trades of institutional investors as of March 31.
It should also be noted that any institutional investor who bought during Q4 is likely sitting on a loss. Compared to Dec. 31’s closing price of $103.69, Rivian is now trading near $66, representing a 36% loss. For example, George Soros bought roughly $2 billion worth of Rivian during Q4. As of last Friday’s close, that investment has almost been cut in half to $1.17 billion.
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
