Written by Cláudio Afonso | LinkedIn | X
Vanguard, the second largest institutional shareholder of the EV maker Rivian (only behind Amazon), reduced its position in the company by 8.8% in the final quarter of 2024.
One of the world’s largest asset management companies, Vanguard sold nearly 6.9 million shares between October and December, after having acquired 3.3 million in the third quarter of the year.
Amazon remained Rivian’s largest institutional shareholder at the end of 2024, retaining its stake of approximately 158 million shares, unchanged since the company’s initial public offering (IPO) in late 2021.
Vanguard Group ranked as the second-largest shareholder with 71.5 million shares, though it reduced its stake by 6.9 million shares, a decrease of 8.8%. Other top shareholders included Baillie Gifford & Co. with 49.6 million shares and BlackRock Inc., which increased its holdings by 3.8 million shares to 47.7 million.
UBS increased its holdings by nearly 29 million shares to 30 million, a surge of over 2,700%. Conversely, FMR slashed its position by more than 10 million shares, reducing its stake by 27.4% to 27.5 million shares.
As of Monday, and according to Fintel, Rivian has 1,140 institutional shareholders holding a total of more than 658 million shares.
BlackRock & Baillie Gifford
BlackRock, the world’s largest asset manager, disclosed last week that it purchased nearly 3.79 million shares of Rivian in the fourth quarter of 2024, boosting its stake in the company by 8.62%.
Baillie Gifford filed sold 754,133 shares in EV maker in the last quarter of 2024, bringing its stake down to 4.9%.
The Edinburgh-based firm is one of Rivian’s largest institutional shareholders and closed last year holding about 49.6 million shares — down from 50.36 million by the end of the third quarter.
Rivian U.S. sales and expansion
In the fourth quarter of 2024, Rivian delivered 14,183 electric vehicles, up 41.6% from the previous quarter (10,018 units). The company has produced a total of 49,476 vehicles in 2024.
In January, U.S. sales were of 3,060 units, a 39% fall year over year, according to Motor Intelligence estimates. The EV maker currently sells in the U.S. and Canada, and plans to expand to Europe in 2026 with its upcoming R2 model.