Written by Cláudio Afonso | LinkedIn | X
Millennium, the investment firm founded by billionaire Israel Englander, has filed its latest 13F form, showing an increased stake in electric vehicle makers Rivian and Nio between April and June.
Millennium nearly doubled its position in Rivian during the period, acquiring 2,211,085 shares in the company led by RJ Scaringe.
By the end of the second quarter, Millennium held 4,863,999 Rivian shares, a stake valued at over $63.5 million — up by 83% from the first three months of the year.
The Irvine-based company produced 9,612 vehicles and delivered 13,790 vehicles in the second quarter, “in line” with its expectations. The EV maker has recently reaffirmed its annual production guidance of 57,000 units.
Over the last eight weeks, four C-level executives have left the company with the latest being Rivian‘s VP of Manufacturing Tim Fallon.
Millenium Management, which was founded in 1989, has also increased its position in the Chinese manufacturer Nio by 45.6% after adding 1,484,185 shares between April and June.
The investment firm held, as of June 30, a total of 4,741,359 shares in the Shanghai-headquartered company, a position valued at $18.92 million.
Two years ago, in 2022, Millenium filed its largest ownership in Nio with over 6.3 million shares. After selling its entire position in early 2023, the fund is now gradually increasing its stake in the EV maker.
Earlier today, Nio announced it will release its second-quarter earnings results on September 5, before U.S. markets open.
The company led by William Li delivered 57,373 units between April and June, a year-over-year growth of 143.90%. As of the end of July, year to date deliveries were up 43.9% from 2023.
Written by Cláudio Afonso | LinkedIn | X
Never Miss an Update
The post Billionaire Israel Englander Nearly Doubles Rivian Stake, Rebuilds Position in Nio first appeared on EV.