Vanguard Group continued to add to its stake in US electric vehicle maker Rivian in the third quarter of the year, acquiring nearly 2.6 million shares between July and September to maintain its position as the largest institutional shareholder.
The third quarter increase brings Vanguard’s stake to a new record of 81.67 million shares in the Irvine, California-headquartered company.
The US fund giant opened its position in Rivian in late 2021 shortly after the EV maker’s Nasdaq debut by acquiring roughly 9.56 million shares.
Between late 2021 and late 2024, Vanguard has added more Rivian shares for eleven consecutive quarters.
Vanguard closed the third quarter of 2025 with 4,365 positions in its portfolio, which was valued at $6.70 trillion. The fund’s top holdings include Nvidia, Apple and Microsoft.
Largest Shareholders
Amazon continues to be Rivian‘s main backer, closing the third quarter with an unchanged position of over 158.3 million shares.
However, if the EV maker fulfills the targets defined for its Rivian-VW joint venture company, the German group could become the second largest shareholder in the company founded and led by RJ Scaringe.
BlackRock completes the podium of top institutional investors, having ended the second quarter holding just above 50 million shares.
The asset manager has not yet reported its third quarter portfolio update.
Regarding Rivian‘s rivals, Vanguard has slightly increased its stake in Tesla, closing the third quarter holding 252,386,304 shares valued at $108.4 billion.
IPO and Market Performance
The electric vehicle maker went public at an initial price of $78 per share after selling 153 million shares to raise approximately $12 billion.
The IPO valued Rivian at over $100 billion on its debut, which momentarily positioned the company ahead of General Motors and Ford Motor as the second most valuable US automaker.
As of press time, Rivian shares are trading 1.2% higher at $15.40. The stock has surged more than 29% over the past three months and 40% in the last twelve months.
The company reported its third quarter earnings results last week, with shares soaring over 20% in the following session.
Despite reaching a new industry record negative free cash flow of $23.2 billion, the company posted third-quarter revenue of $1.56 billion, surpassing Wall Street’s consensus estimate of $1.49 billion and up from $1.16 billion a year earlier.
