Capital International Investors, a division of the $3 trillion asset manager Capital Group, increased its stake in Rivian by 13.2% in the fourth quarter, according to a regulatory filing published Tuesday.
The Los Angeles-based firm held 20,769,844 Rivian shares valued at $409.4 million as of December 31 — up from 18,351,127 shares at the end of September.
The purchase makes Capital International Investors one of Rivian’s largest institutional shareholders, trailing only the brand’s backer Amazon, Vanguard Group, BlackRock, Baillie Gifford and State Street.
Institutional Investors
Rivian has 868 institutional holders collectively owning 680.2 million shares, Nasdaq data showed on Wednesday morning.
Amazon remains the largest shareholder with 158.4 million shares worth $2.37 billion, a position unchanged from the prior quarter.
Vanguard Group holds 81.4 million shares valued at $1.22 billion after trimming its stake by 0.3% in Q4.
Baillie Gifford reduced its holdings by 2.6% to 43.8 million shares worth $655 million.
Out of the twenty five largest institutional shareholders, only seven have reported their Q4 2025 portfolio update as of Wednesday.
Major Buyers
As reported on Tuesday by EV, Norway’s sovereign wealth fund Norges Bank returned to Rivian with 11.2 million shares valued at $167 million after fully exiting in the third quarter.
Renaissance Technologies was the most aggressive buyer in Q3, boosting its Rivian stake by 522% to 12.4 million shares worth $185 million.
Citigroup followed as it more than doubled its position, increasing holdings by 138% to 8.5 million shares.
None of them has reported the Q4 2025 portfolio update.
Major Sellers
UBS Group slashed its stake by 28.6% in the final quarter of the year, selling 5.6 million shares to end the quarter with 13.9 million shares worth $209 million.
Bank of America cut its holdings by 25.9%, selling 4.6 million shares.
Morgan Stanley reduced its position by 30.3%, offloading 3.6 million shares.
Baillie Gifford, the Scottish investment firm that was an early Rivian backer, trimmed its stake by 2.6%, selling 1.2 million shares.
Pending Filings
Several major institutional shareholders have yet to report their fourth-quarter portfolio updates, making a complete picture of institutional sentiment difficult to assess.
BlackRock, the world’s largest asset manager, held 51.2 million Rivian shares worth $766 million at the end of September but has not filed its Q4 update.
State Street Corp held 19.8 million shares worth $296 million as of Q3, while Soma Equity Partners reported 9.2 million shares.
Stock Performance
Rivian shares have fallen sharply since the start of the year, declining in 15 of the past 20 trading sessions.
As of press time, the stock was trading 1.6% lower at $14.72.
The company is scheduled to report fourth-quarter earnings on Thursday, with full R2 pricing and specifications to be revealed on March 12.
