George Soros’ Top 5 Holdings

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

Soros Fund Management’s Stake Value: $264,375,088

Percentage of Soros Fund Management’s 13F Portfolio: 3.64%

American EV maker Rivian Automotive, Inc. (NASDAQ:RIVN) is one of George Soros’ top stock picks. As of December 31, Soros Fund Management owns over 14.3 million shares of Rivian Automotive, Inc. (NASDAQ:RIVN) which amounts to a stake of $264.37 million. The investment covers 3.64% of George Soros’ 13F portfolio.

This January, Truist analyst Jordan Levy revised his price target on Rivian Automotive, Inc. (NASDAQ:RIVN) to $50 from $65 and maintained a Buy rating on the shares. As of February 14, the stock has gained 11.45% year to date.

Here is what Baron Funds had to say about Rivian Automotive, Inc. (NASDAQ:RIVN) in its fourth-quarter 2022 investor letter:

“Consumer Discretionary investments along with the lack of exposure to the strong performing Energy sector offset a portion of the above-mentioned gains. Within Consumer Discretionary, the underperformance of electric vehicle (EV) manufacturer Rivian Automotive, Inc. (NASDAQ:RIVN) coupled with lower exposure to this better performing sector hampered relative results. Rivian’s shares fell as investors fretted over the company’s unit economics and how macroeconomic uncertainty is impacting the EV industry.

Rivian Automotive, Inc. is an EV manufacturer producing vehicles for the consumer and corporate delivery van markets. Its shares were under pressure during the quarter. Investors remained focused on the company’s execution challenges, the implied unit economics for its vehicles, and near-term headwinds for the automotive industry stemming from a weaker global economy. Despite these headwinds, we are comfortable with Rivian’s liquidity position and its competitive position within the EV industry, which we believe will continue to grow at impressive rates. Rivian should also benefit from its positive product reviews, its integrated technology approach, and its industry partnerships.”