With 13-F filing season officially underway, investors have the once-in-a-quarter opportunity to peer inside some of the greatest investing minds. The moves various high-profile investors make on a quarterly basis are of specific interest to many investors who follow a particular investing style. Accordingly, when news broke that Tudor Investment, the hedge fund run by Paul Tudor Jones, took a big stake in Rivian (NASDAQ:RIVN), investors took notice. Today, RIVN stock is up more than 7% following this news.
Billionaire Paul Tudor Jones is noted for his combination of trading and investing activities as well has his philanthropic efforts. Looking at his 13-F filing, investors will have to dig deep to find his purchase of Rivian stock. That’s because he bought “only” 31,500 shares, amounting to roughly $660,000. For a man with a portfolio with more than $5 billion in managed 13F securities, that’s a small position.
With that said, let’s dive into what investors should make of this move.
Is Now the Time to Buy RIVN Stock?
Despite this investment being on the smaller side and Tudor Investment’s obvious focus on holding a highly-diversified basket of stocks, a stake in Rivian is notable. Other top hedge fund managers have also jumped into Rivian over this past quarter, as it appears many top-tier investors want exposure to what could be a continued risk-on rally in the markets.
It helps that this electric vehicle maker has been absolutely slammed by the overall market in 2022. Whether it’s news of price cuts from competitors or an increasingly competitive landscape, investors have had plenty of reasons to steer clear of this higher-risk, higher-upside stock for some time.
Of course, the rally in RIVN stock this year has been notable, and thus far, it appears world-class investors like Paul Tudor Jones have gotten this trade right. We won’t know whether he exited this position until roughly 90 days from now. But the fact that so many investors are jumping aboard this stock may be encouraging for those considering Rivian here. It’s one company that’s on my watch list right now.
On the date of publication, Chris MacDonald 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.
