Written by Cláudio Afonso | LinkedIn | X
Baillie Gifford filed its quarterly portfolio update on Wednesday, revealing that it sold 754,133 shares in EV maker Rivian 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.
Between July and October, Baillie Gifford had increased its position in the RJ Scaringe-led company by over 52%.
The investment firm’s sole voting power over Rivian shares declined in Q4 to 27.2 million from 29.2 million in the prior quarter.
Baillie Gifford has been increasing its stake in Rivian since late 2023. The asset manager ended that year with about 3.1 million shares, ramping up to 25.3 million by the first quarter of 2024, then 33 million in the second quarter, before jumping to nearly 50.4 million shares.
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%.
Rivian’s Institutional Ownership
As of Wednesday, and according to Fintel, Rivian has 1,123 institutional shareholders holding a total of about 632 million shares.
Besides the three asset managers Vanguard Group, Baillie Gifford & Co, and BlackRock, Rivian’s largest institutional shareholder is the retail giant Amazon with a stake in the company of over 18%.
Amazon holds around 158 million shares since the company’s initial public offering (IPO) in late 2021.
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.
As of the time of writing, Rivian shares are trading half percent higher at $12.51. Over the last twelve months, the stock has lost nearly 20% of its value.
