Citigroup Bets Big on Rivian (RIVN) – Largest Position Since 2021 IPO Sparks Market Buzz
Wall Street's sleeping giant just woke up—and it's electric. Citigroup has quietly amassed its biggest stake in Rivian since the EV maker's blockbuster IPO, signaling a high-voltage conviction play in the face of sector-wide skepticism.
The move comes as legacy automakers scramble to match Tesla's lead, while Rivian's Amazon-backed delivery vans and adventure-ready pickups carve out a niche that's increasingly hard to ignore.
Analysts whisper this could be the start of a strategic pivot—or just another case of institutional FOMO in a market where 'disruption' gets more lip service than R&D funding.
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Rivian stock has gained over 7% during Tuesday’s trading session.
Citi’s Rivian Bet Hits New High
This marks Citigroup’s largest position in Rivian since it first invested in the company during Q4 2021, shortly after Rivian’s IPO. The firm initially purchased just 76,738 shares worth $7.9 million, but quickly scaled up to 1.38 million shares in early 2022.
Over the next two years, its stake fluctuated, peaking above 2 million shares in late 2024 before dipping back to 1.4 million in early 2025.
Importantly, Citigroup doubled its stake in both Q2 and Q3 of this year, signaling growing confidence in Rivian’s long-term prospects.
Inside Citigroup’s Other Portfolio Changes
Citigroup’s portfolio spans 5,179 companies with a total value of $147 billion. Its largest holding is in chipmaker Nvidia (NVDA), with 33.3 million shares valued at $6.6 billion. Tesla (TSLA) ranks third, with 9.57 million shares worth $4.2 billion.
While Citigroup boosted its Tesla stake by 2.37% last quarter, it trimmed its position in Chinese EV maker Nio (NIO) by 7.5%, now holding 6.3 million shares worth $48 million.
Road Ahead for Rivian
Rivian’s prospects seem promising as the EV maker delivers positive gross profits and deepens strategic partnerships. With Amazon (AMZN) committed to purchasing 100,000 electric vans and Volkswagen (VWAGY) investing billions in joint software and vehicle development, Rivian is positioned to scale production.
The company is also building out its charging infrastructure and expanding its service network to support long-term growth.
Overall, continued equity infusions, a growing backlog, and renewed investor confidence signal Optimism about Rivian’s growing presence in the competitive EV market.
Is Rivian a Buy, Hold, or Sell?
Turning to Wall Street, RIVN stock has a Hold consensus rating based on five Buys, eight Holds, and five Sells assigned in the last three months. At $13.33, the average Rivian price target implies 23.32% downside potential.
