(Bloomberg) — 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.
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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.
Read more: Soros Adds Rivian Class A, Exits VICI Properties: 13F
The New York-based firm disclosed it held more than $2 billion in shares of Rivian, which went public in November, and revealed a new $13.3 million holding in Peloton Interactive Inc. The value of its U.S. equity portfolio jumped by…
