Soros Cut Stake in Big Tech Stocks Before Selloff, Added Peloton

Soros Fund Management reduced its holdings of big tech stocks prior to January’s market tumult, while disclosing a $2 billion stake in electric pickup maker Rivian Automotive Inc.

George Soros’s investment firm slashed its stake in the Invesco QQQ Trust Series 1 (ticker QQQ), the biggest exchange-traded fund tracking the tech-heavy Nasdaq 100. It held just $9.4 million at the end of December, down from $356.2 million at the end of the third quarter, according to a regulatory filing Friday. It also trimmed positions in Amazon.com Inc. and Alphabet Inc.