Billionaire Druckenmiller Exits Alphabet (GOOGL), Slashes Amazon (AMZN) in Q1 2026

Key Takeaways

• Duquesne Family Office, managed by Stanley Druckenmiller, completely liquidated its 385,000-share Alphabet (GOOGL) stake during Q1 2026.
• TCI Fund Management, led by Christopher Hohn, established a fresh 2.46 million-share Alphabet Class A position and expanded Class C holdings to 8.85 million shares.
• TCI dramatically reduced its Microsoft exposure, cutting shares from 16.78 million down to 2.73 million.
• Third Point, managed by Daniel Loeb, launched new positions in Meta, Alphabet, bitcoin miner Hut 8, and SPDR Gold Shares ETF.
• Druckenmiller’s fund established fresh stakes in Broadcom, Caris Life Sciences, and Revolution Medicines while nearly eliminating its Amazon position.

Major hedge fund managers submitted their Q1 2026 13F reports late Friday evening, exposing significant portfolio adjustments across technology holdings. Alphabet emerged as a focal point, with prominent investors taking opposing positions on the tech giant.

Alphabet Inc., GOOGL

Stanley Druckenmiller’s Duquesne Family Office led the exits. The investment firm completely liquidated its 385,000-share Alphabet Class A holding throughout the first quarter. This position had been substantially expanded during Q4 2025, when Duquesne boosted it from 102,000 shares. The firm has not issued public statements explaining the rationale behind this complete withdrawal.

Alphabet finished Friday’s trading session at $396.78, gaining 1% for the day. Year-to-date, the stock has climbed 27% in 2026. Notably, during the January through March period, shares declined 8%, indicating Druckenmiller’s exit occurred while the stock was underperforming.

Duquesne Establishes Broadcom Position, Nearly Eliminates Amazon

While divesting from Alphabet, Duquesne remained aggressive in other sectors. The fund launched a new Broadcom position comprising 195,955 shares. Additionally, it established a significant stake in Caris Life Sciences totaling 1.89 million shares and acquired 315,860 shares of Revolution Medicines.

The fund executed substantial reductions elsewhere in its portfolio. Its Amazon holdings were slashed dramatically, declining from 737,940 shares to merely 9,539 shares. Teva Pharmaceuticals was reduced from 5.87 million shares to 2.37 million, while Coupang saw its stake drop from 6.77 million shares to 2.67 million.

Duquesne completely exited several positions during the quarter, including State Street Financial Select Sector SPDR, Cogent Biosciences, Entegris, Delta Air Lines, and American Airlines.

TCI Expands Alphabet Holdings While Third Point Enters Crypto Exposure

Contrasting with Druckenmiller’s approach, Christopher Hohn’s TCI Fund Management aggressively accumulated Alphabet shares. The fund initiated a substantial 2.46 million-share Alphabet Class A position from scratch. Simultaneously, it expanded its Alphabet Class C holdings from 7.6 million to 8.85 million shares.

TCI strengthened other core holdings as well. Visa shares were increased to 30.47 million, while both S&P Global and Moody’s saw expanded positions. However, the fund executed a dramatic reduction in Microsoft, slashing its stake from 16.78 million shares to just 2.73 million.

Daniel Loeb’s Third Point pursued a distinct strategy. The fund initiated fresh positions across Meta, Alphabet, SPDR Gold Shares, and Hut 8, a bitcoin mining operation. These moves signal expansion into both established technology leaders and cryptocurrency-related investments. Third Point simultaneously exited Microsoft, PG&E, Brookfield Asset Management, Casey’s, and CoStar throughout Q1.

The contrasting approaches to Alphabet across elite hedge funds underscores the divergent perspectives on the stock during a quarter when shares traded below their year-start levels.

These portfolio changes were revealed through mandatory 13F regulatory filings, which capture positions held as of March 31, 2026. As of Friday’s market close, Alphabet shares have appreciated 27% year-to-date.

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