BlackRock increased its holdings in Rivian to 56,419,011 shares during the second quarter of 2026, the world’s largest asset manager disclosed in a regulatory filing on Friday — a new all-time high that eclipses a previous peak set nearly three years ago.
The addition of around 2.4 million shares represents a 4.5% increase from the 53,970,947-share position held at the end of March, lifting the stake’s value to approximately $978.9 million — based on Rivian‘s closing price of $17.35 on June 30.
Based on Friday’s closing price, the position is currently worth about $930.3 million.
A new high of 56.4 million shares surpasses the Q2 2023 mark of 55,827,991 shares, which had stood as BlackRock’s largest Rivian position on record.
The previous peak was surpassed by approximately 591,020 shares.
By mid-2023, BlackRock had built a large position in Rivian through aggressive early accumulation, approximately 18 months after the EV maker’s November 2021 IPO.
The asset manager then spent much of 2023 and 2024 paring the stake, reaching its lowest point in Q3 2024 at just under 44 million shares — a drawdown of more than 21% from the Q2 2023 peak.
BlackRock’s current position sits approximately 28.5% above the Q3 2024 trough, with over seven quarters of net buying interrupted only by a modest 1.6% trim in Q4 2025.
The rebuilding pattern accelerated in the first quarter, with a 7.0% increase in its stake — BlackRock’s largest single-quarter Rivian addition in five quarters at the time — and continued with the most recent 4.5% expansion.
Stock Performance
BlackRock’s position of nearly 54 million shares in Q1 was valued at $812.3 million as of March 31, when Rivian closed at $15.05.
By June 30, the expanded stake of 56.42 million shares was worth $978.9 million — a 20.5% increase in dollar value driven by both the share-count expansion and a 15.3% gain in Rivian‘s stock price over the quarter.
The path between those two marks was volatile.
After increasing for the first part of April, Rivian shares slid aggressively through most of May, reaching a year-to-date low of $12.65 on May 19.
From that May 19 floor, the stock reversed sharply.
Rivian shares strung together 11 consecutive days of gains through early June — the longest winning streak in the EV maker’s public-company history — climbing approximately 43% as investors positioned ahead of R2 customer deliveries, which began on June 9.
The stock settled at $17.35 at quarter-end, after reaching as high as $18.55 in early June.
Amazon, VW and Uber
Rivian‘s shareholder register has undergone its most significant reshuffling since the 2021 IPO, driven by the two strategic partners whose investments dwarf any institutional buyer.
Volkswagen Group overtook Amazon as Rivian’s largest single shareholder in May, after purchasing 62.9 million newly issued shares at $15.90 per share in a nearly $1 billion private placement triggered by the completion of winter testing milestones at the Rivian and Volkswagen Group Technologies joint venture.
The purchase lifted the German automaker’s stake to 15.9% — approximately 209.8 million Class A shares — surpassing Amazon‘s 158.4 million-share position for the first time in the EV maker’s public-company history.
The displacement was structural rather than market-driven.
Amazon‘s shareholding has remained unchanged since the IPO era, while Volkswagen has steadily accumulated through milestone-tied equity tranches under a $5.8 billion joint venture commitment signed in November 2024.
Uber emerged as a new strategic backer in March, when the ride-hailing company agreed to invest up to $1.25 billion in Rivian through 2031 and purchase up to 50,000 fully autonomous R2 robotaxis.
An initial $300 million investment — equivalent to approximately 19.55 million Rivian shares — closed shortly after signing, with the remaining $950 million tied to the achievement of autonomous driving milestones by designated dates.
The Uber–Rivian deal is part of a broader autonomous vehicle push by the ride-hailing giant, which has been assembling a multi-vendor robotaxi supply chain that also includes Lucid Motors.
Where BlackRock Sits
BlackRock is Rivian‘s largest institutional shareholder after Amazon, Volkswagen and Vanguard Group.
The ownership picture remains incomplete as of Monday morning, as several institutions have yet to file their quarterly positions with the SEC.
Early filers such as Citigroup, which cut its Rivian stake by 29.4% during the quarter, offer only a partial view of how institutional capital moved in and out of Rivian shares between April and June.
BlackRock’s record accumulation coincided with a quarter in which Rivian began customer deliveries of the R2 in June, narrowed its quarterly net loss to $379 million — the smallest since early 2025 — and raised its full-year delivery guidance to 65,000 to 70,000 vehicles.
BlackRock managed $15.3 trillion in assets as of June 30.
During the second quarter, the asset manager nearly doubled its stake in Lucid to over 12 million shares, also a record position.
However, BlackRock reported a stake of nearly 9.5 million shares in Chinese EV maker Nio after trimming the position by 11.8% between April and June. It also reduced its stake in XPeng by 23.5% to 2.2 million shares.
