Philippe Laffont’s Top 5 Stock Picks

2. Rivian Automotive, Inc. (NASDAQ:RIVN)

Coatue Management’s stake value: $1.54 billion

Percentage of portfolio: 11.33%

Number of hedge fund holders: 30

Rivan Automotive, Inc. (NASDAQ:RIVN) was the second-largest stock holding of Coatue Management as of the end of March. The firm held $1.54 billion worth of shares of the manufacturer and seller of electric vehicles and accessories. The company’s share price has plunged by more than 60% in the past 12 months due to a broader market selloff and lofty valuations. However, after the recent price plunge, shares now look attractive for long-term value investors.   

Of the 912 hedge funds tracked by Insider Monkey, 30 were bullish about the company as of the end of March. Granite Point Capital was the leading stakeholder in the company.