Practically the entire year of 2022 was a bear raid on electric vehicle (EV) manufacturer Rivian Automotive (NASDAQ:RIVN), it seems. It’s been one problem after another for RIVN stock investors, but don’t fret. While the bears are out in full force, there are also some well-heeled investors wagering that Rivian can, sooner or later, provide value to the shareholders.

If it’s any comfort to Rivian’s shareholders, growth stocks have generally lost value this year. The enthusiasm that swept EV stocks to fresh highs in 2021 quickly dissipated as financial traders crowded into defensive assets.

It certainly didn’t help the bullish thesis for Rivian when one famous hedge fund manager expressed his not-so-optimistic stance on the equities markets. Still, this could provide an attractive entry point for Rivian Automotive’s loyal investors — which, by the way, include some sizable financial institutions.

Broad-Market Jitters Put Pressure on RIVN Stock

RIVN stock fell from over $100 to less than $20 in 2022 — a horrifying drop for traders with weak stomachs. This occurred even though Rivian worked diligently to fulfill its objective of delivering 25,000 vehicles this year.

Is it possible, then, that investors are panic-selling Rivian shares simply due to fears of a broad-market selloff? It’s a theory to consider, as Appaloosa Management founder and President David Tepper unleashed a verbal salvo on an already reeling equities market recently.

This took place on Dec. 22, and RIVN stock dropped 6.18% that day even though there wasn’t any specific news about Rivian. It’s an indication that investors are punishing growth stocks and EV stocks generally, and Rivian is just collateral damage.

Indeed, many traders freaked out when Tepper warned that he’s leaning “short on the equity markets.” Sure, interest rate hikes could continue to take a toll on stocks next year; this point is duly noted. Yet, EV industry enthusiasts and Rivian bulls don’t have to throw in the towel. In fact, they should be encouraged, as some financial whales are actually long and strong on Rivian.

5 Investors Betting Big on RIVN Stock

Despite Tepper’s concerns about the stock market, Rivian continues to have a number of big-money backers. So, let’s take a look at some of Rivian Automotive’s top institutional investors as of Sept. 29, 2022.

• Amazon (NASDAQ:AMZN): A massive position of 158.36 million RIVN shares, as the e-commerce giant holds 17.34% of Rivian’s outstanding shares.
• T Rowe Price (NASDAQ:TROW): 140.63 million Rivian Automotive shares, or 15.4% of the outstanding shares.
• BlackRock (NYSE:BLK): 46.56 million shares, which translates to 5.1% of outstanding RIVN shares.
• Capital Research Global Investors: A long position consisting of 43.38 million Rivian shares, or 4.75% of the automaker’s outstanding shares.
• Vanguard: A stake of 36.24 million RIVN shares, which represents 3.97% of the outstanding shares.

Join the EV Revolution With High-Powered Investors

Rivian Automotive, and the EV industry overall, have both fans and detractors. If you’re a believer, then you don’t have to let Tepper’s talk scare you. After all, the vehicle electrification movement isn’t going to stall out anytime soon.

Instead of panicking, consider joining Amazon, BlackRock, Vanguard and other market movers by taking a stake in Rivian. Sooner or later — and with or without the perma-bears’ permission — your shares of RIVN stock should appreciate.

On the date of publication, David Moadel did not have (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.