George Soros Stock Portfolio: Top 5 Stock Picks

1. Rivian Automotive, Inc. (NASDAQ:RIVN)

Number of Hedge Fund Holders: 35

Soros Fund Management’s Stake Value: $459,086,000

Rivian Automotive, Inc. (NASDAQ:RIVN) is a California-based company that designs, develops, manufactures, and sells electric vehicles and accessories. Securities filings for the second quarter of 2022 revealed that the George Soros stock portfolio held 17.8 million shares of Rivian Automotive, Inc. (NASDAQ:RIVN), worth $459 million and representing 8.17% of the total 13F securities. Rivian Automotive, Inc. (NASDAQ:RIVN) is the largest holding in the Soros portfolio. 

On November 2, Mizuho analyst Vijay Rakesh said Rivian Automotive, Inc. (NASDAQ:RIVN)’s vehicle recall is “relatively minor” and that its manufacturing lines have already been updated. He noted that the headlines are “worse than reality” and maintained a Buy rating on Rivian Automotive, Inc. (NASDAQ:RIVN) with a $65 price target.

According to Insider Monkey’s data, 35 hedge funds were bullish on Rivian Automotive, Inc. (NASDAQ:RIVN) at the end of June 2022, compared to 29 funds in the prior quarter. Philippe Laffont’s Coatue Management is the largest position holder in the company, with 18.8 million shares worth $486 million. 

Here is what Baron Fifth Avenue Growth Fund has to say about Rivian Automotive, Inc. (NASDAQ:RIVN) in its Q2 2022 investor letter:

“Rivian Automotive, Inc. designs, manufactures, and sells consumer and commercial electric vehicles. Shares of Rivian declined 48.2% in the second quarter as investors continued rotating out of long-duration assets and have become increasingly concerned about capital intensity and cash burn.

At the same time, Rivian continues to be impacted by supply chain issues which are causing delays in its production ramp. Rivian is addressing those challenges by diversifying its supply chain to alleviate shortages while also consolidating the number of variants in development to reduce cash burn (the company guided that current cash will be enough to support the company’s future platform launch ‘R2’ in 2025). Rivian recently reported stronger-than-expected second quarter production numbers while reiterating its annual guidance of producing 25,000 units.

As semiconductor shortages ease, we believe that the company will be able to rapidly ramp its production. We retain conviction in the shares given management’s vision, Rivian’s product positioning, the company’s relationship with Amazon.com, and its strong balance sheet. As of the end of the first quarter, Rivian had $17 billion of cash and cash equivalents, which will help it overcome the current challenges while taking advantage of the long-term opportunity as the market transitions to electric vehicles.”

You can also take a look at 12 Best Reddit Stocks To Buy and 10 Stocks That Are On Sale Now. 

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