Electric vehicle giants Tesla Inc. and Rivian Automotive Inc. are making waves in Gary Black’s Future Fund Active ETF, each taking unique paths in the evolving electric vehicle (EV) landscape. Tesla currently holds the dominant position, with 954 shares valuated at $275,257, constituting 4.20% of the portfolio.

In comparison, Rivian claims a smaller slice, representing 1.22% of the portfolio, valued at $79,738 with 8,212 shares. Tesla's performance has been impressive, with a share price rise of 2.90% to $296.91 recently and a notable 33.63% increase over the past year. Year-to-date, Tesla's stock has increased by 19.52%, underscoring its status as the leading player in the EV sector.

Rivian, however, is navigating rougher waters. Despite a recent gain of 3.35% to $10.04, the company has seen a 52.44% decline in stock value year-to-date and a 42.39% drop over the past year. Gary Black, Managing Partner of Future Fund, acknowledges Rivian's challenges but points to investor confidence bolstered by the company's consistent stance on maintaining a positive fourth-quarter gross margin forecast despite supply issues.

Rivian's delivery and production numbers fell short of expectations recently, but the outlook remains optimistic with reiterated 2024 production targets of 47,000 to 49,000 vehicles. Rivian’s strategic focus contrasts with Tesla’s by prioritizing safety and convenience enhancements over fully autonomous driving technologies. CEO RJ Scaringe emphasizes growth opportunities tied to the R2 platform, projecting it as a key component to future success despite recent misses on revenue and EPS forecasts.

The ongoing rivalry between Tesla and Rivian in Gary Black’s portfolio mirrors broader EV industry trends, where innovation and strategic positioning remain critical to capturing market share. As both companies chart their distinct paths, their competitive dynamics highlight the varied approaches within the rapidly evolving EV market.