Soros fund sells remaining stake in Rivian, buys 1.5M shares of Novo Nordisk in Q3

November 14, 2023 5:26 PM EST -- George Soros’s investment firm dissolved its stake in electric vehicle maker Rivian Automotive in the third quarter, while taking up a position in health care firm Novo Nordisk, according to a regulatory filing on Tuesday.

As of Sept. 30, Soros Fund Management sold its remaining 4.2 million shares in Rivian, while scooping up 1.5M shares of drugmaker Nordisk at a value of $138.8M, the filing showed.

The EV maker's shares have fallen about 11% since Sept. 30, despite the EV maker releasing better-than-expected Q3 results and lifting its guidance.

Rivian Automotive Inc (NASDAQ: RIVN) was flat in afterhours trading, while Novo Nordisk A/S (NYSE: NVO) was marginally higher.

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