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Druckenmiller Exits Google, Carvana as Family Offices Place Bets

  • His Duquesne Family Office added more Chevron in first quarter
  • Soros ditched Activision while Bonderman held onto Skillz
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Hedge Funds That Piled Into Tech Have Tanked

The investment firms of some of the world’s wealthiest investors made some large shifts in their assets last quarter as US stocks slumped by the most since the onset of the Covid-19 pandemic.

Stanley Druckenmiller’s Duquesne Family Office sold about $274 million of Alphabet Inc. shares and $121 million of Carvana Co., ditching both stocks entirely as of March 31, according to the firm’s 13F filing Monday. It also exited Airbnb Inc. and Starbucks Corp., while placing new bets on companies including Teck Resources Ltd. and Coterra Energy Inc.