5 Most Famous Hedge Fund Managers and Their Top Stock Picks

2. George Soros

George Soros is a Hungarian-American businessman and philanthropist. In 1992, Soros made a bet against the British pound and gained a profit of $1 billion. He achieved notoriety as the person who caused the Bank of England’s collapse. George Soros is a renowned hedge fund manager who oversaw client funds in New York from 1969 to 2011 via Soros Fund Management. Rivian Automotive, Inc. (NASDAQ:RIVN) is the biggest position in Soros’ portfolio, with 16.36 million shares worth $538.40 billion. 

Baron Funds made the following comment about Rivian Automotive, Inc. (NASDAQ:RIVN) in its Q3 2022 investor letter:

“Rivian Automotive, Inc. (NASDAQ:RIVN) designs, manufactures, and sells consumer and commercial electric vehicles (EVs). Shares of Rivian were up 28% in the third quarter driven by second quarter production that beat expectations, a new partnership with Mercedes Benz, and the positive potential impact of the recently announced Inflation Reduction Act on accelerating broader EV adoption. While Rivian continues to be impacted by supply-chain issues that are causing delays in its production ramp, it is addressing the challenges by diversifying its supply chain to alleviate shortages while also consolidating the number of variants in development to reduce cash burn (the company guided that current cash will be enough to support the company’s future platform launch R2 in 2025). The company also recently reported stronger than-expected third quarter production results while reiterating its annual guidance of producing 25,000 units. As semiconductor shortages ease, we believe the company will be able to rapidly ramp its production. While we retain conviction in the shares given the company’s vision, product positioning, relationship with Amazon.com, and strong balance sheet, we have reduced the size of our position.”