Goldman Sachs filed its quarterly update with the US Securities and Exchange Commission (SEC), disclosing its highest stake ever in the EV maker Rivian.
The New York-based firm purchased over 3 million shares in the company between January and March, closing the quarter holding 8.9 million shares.
The position was valued at nearly $133.9 million as of March 31, when Rivian was trading at approximately $15.05.
Goldman Sachs’ position in Rivian is now worth $122.7 million, as the stock progressively declined to around $14.
Rivian shares reached a new three-month low of $13.64 in early May, following the report of its first-quarter earning results.
As of press time, the company’s stock was trading flat at $13.81 on Monday’s market session.
Goldman Sachs x Rivian
The firm first bought shares of the Irvine-based brand in the last quarter of 2021, shortly after Rivian went public.
Back then, it acquired 111,317 shares, worth $11.5 million.
Goldman Sachs has since progressively increased its holdings in the EV maker, despite fluctuations.
In 2025 alone, the investment bank began the year by slightly increasing its stake in Rivian, with 95,000 shares added, to which a 10% trim followed in the second quarter.
Goldman added 1.2 million shares to the company during the third quarter and another 366,000 in the fourth one, ending the year with 5.7 million shares — worth $112.7 million then.
Other Automakers’ Stocks
Goldman Sachs also owns a position in US EV makers — and Rivian competitors — Tesla and Lucid Motors.
The firm reduced its Lucid stake by 18.7% during the first quarter, finishing March with 690,126 shares in the company.
The holdings were valued at $6.6 million then.
Its position in Tesla has been kept around the record 30-million-share mark of the second quarter of 2025.
After slightly trimming the stake in both remaining quarters of last year, Goldman purchased nearly 2 million shares in Tesla between January and March.
The firm held 29.4 million shares in the Elon Musk company by the end of the first quarter, a stake worth $10.9 billion.
Goldman Sachs owns shares in Chinese EV makers Nio and XPeng — ranking as one of the largest institutional investors in both companies.
The stake in Nio was trimmed slightly during the first quarter — a 3.6% change — to $13.8 million shares. The position is worth $89.9 million.
In XPeng, however, the firm has just now jumped to the top 5, as it more than doubled (139.1%) its holdings to 7.8 million shares.
The stake was worth $134 million by the end of the first quarter.
Institutional Ownership
As of Monday, Nasdaq data showed Rivian has 933 institutional shareholders, collectively holding 733 million shares in the EV maker.
The company led by RJ Scaringe has been primarily backed by Amazon, which first invested in the company in 2019.
The retail giant has held approximately 158 million shares in the EV maker since.
Recently, Volkswagen Group has overtaken Amazon as Rivian’s largest shareholder.
The German giant now holds 209.8 million Class A common shares, representing a 15.9% stake — up from 146 million shares as of mid-2025.
UBS, which ranks in the top 20 largest institutions, reduced its Rivian holdings by 26.4% in the first quarter of 2026 to just below 10.3 million shares.
Deutsche Bank also trimmed its Rivian position for the second straight quarter, holding 1,879,129 shares at the end of March — its lowest level since mid-2024.
Among its major institutional shareholders, Baillie Gifford has also updated its portfolio with a slight increase of 40,145 shares in a stake of over 43.8 million.
Citigroup reported that it closed the first quarter holding 8,674,247 Rivian shares — a 12.1% cut after selling approximately 1.19 million shares between January and March.
BlackRock disclosed last week a stake of nearly 54 million shares in the EV maker, after acquiring 3.5 million shares during the last quarter.
