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Archer Aviation (ACHR) is a California-based developer of the Midnight electric vertical takeoff and landing (eVTOL) air taxi. The company is pre-revenue today but has amassed a $6 billion order backlog and is targeting first commercial flights in the United Arab Emirates later this year.
The first quarter was a pivotal period for the company as manufacturing has moved from prototypes to completing the buildout of its commercial plant in Georgia. Archer also beat Wall Street analyst estimates, posting a loss of $0.17 per share vs. expectations of a $0.28 loss per share. Even before this pivot, shares surged in late 2024. Management quickly took advantage of that by issuing shares, thereby increasing cash on hand to over $1.03 billion.
In turn, this has led to the cash runway getting significantly longer. ACHR stock is now seen as much more investable to long-term investors. Let’s take a look at its five big investors and the moves they’ve made here.
#1: Stellantis
Stellantis (STLA) is an automotive company that has been continuously investing in Archer Aviation since 2023. It has invested in the company multiple times since and has partnered up with Archer to help develop its flying cars.
Stellantis holds 64.5 million shares of ACHR, worth $458.6 million. This translates to an 11.89% ownership of the company.
#2: Adam Goldstein
Adam Goldstein is Archer Aviation’s CEO. He holds 39.36 million shares, valued at $279.84 million. He is also the founder and the chairman.
His holdings constitute about 7.26% of Archer Aviation.
#3: BlackRock
BlackRock’s (BLK) holdings are largely related to underlying investment vehicles like its iShares-branded exchange-traded funds or separate institutional accounts.
In Q1, BlackRock held 36.6 million shares, with a market value of $260.35 million. BlackRock had the biggest single-quarter jump among the top five largest holders. Shares under its control grew by 59.11% to a 6.75% ownership.
#4: Ark Investment Management
Ark Investment Management currently holds 25.5 million shares of ACHR. This is Cathie Wood’s firm, so it’s a very active position, with her ETFs making daily disclosures of new buys and sells.
The position is the 11th-largest in Ark’s holdings. This is a surprisingly large position, bigger than Ark’s stake in Nvidia (NVDA), Advanced Micro Devices (AMD), and Amazon (AMZN).
#5: State Street
State Street Corp holds 21.3 million shares of ACHR, currently valued at $151.53 million. It constitutes a 3.93% stake in the company. The holdings here are indirect, since these shares are held inside dozens of index products, like the SPDR family of ETFs.
When State Street’s ETFs receive new cash, State Street must purchase every asset held in one of those ETFs in the correct weights, and Archer shares ride along for the trip. The process works in reverse when redemptions hit. ACHR is a holding in the S&P Aerospace & Defense SPDR (XAR).
As long as ACHR stock keeps seeing bullish price action, shares owned by State Street should rise in tandem.
On the date of publication, Omor Ibne Ehsan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
