Hedge fund legend Stanley Druckenmiller exits Alphabet and cuts Amazon stake, reducing exposure to megacap tech in Q1 filings.
Stanley Druckenmiller’s Duquesne Family Office sold all 385,000 Alphabet shares and reduced its Amazon position by 692,000 shares in Q1, nearly eliminating exposure to the “Magnificent Seven” stocks. The $3 billion portfolio now holds just 0.32% in Amazon, down from prior levels.
Druckenmiller’s portfolio previously included Alphabet and Amazon but has shifted away from megacap tech, despite outperforming the S&P 500 over the past decade. The only remaining large-cap tech holding is a new stake in Broadcom, with 196,000 shares added in Q1.
The moves contrast with broader market trends, where megacap tech has driven significant gains. Druckenmiller’s historical 30% annual returns at Duquesne Capital underscore his long-term outperformance.