Investing
Soros, Druckenmiller Pared Megacap Holdings Ahead of Rout
- Stakes in ‘Magnificent Seven’ stocks were cut back in 2Q
- David Tepper’s Appaloosa trims Amazon, Microsoft, Meta stakes
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George Soros and Stanley Druckenmiller’s investment firms trimmed their holdings in “Magnificent Seven” stocks before this year’s ebullient run-up in technology companies gave way to a major downturn in mid-July.
Soros Fund Management sold some of its stake in Alphabet Inc. totaling $58 million, and about $15 million of Amazon.com Inc., according to regulatory filings for the three months ended in June.