Key Takeaways
- Duquesne Family Office under Stanley Druckenmiller completely liquidated its 385,000-share stake in Alphabet during Q1 2026.
- Christopher Hohn’s TCI Fund Management established a fresh 2.46 million-share position in Alphabet Class A shares and expanded Class C holdings to 8.85 million.
- TCI dramatically reduced its Microsoft exposure, dropping from 16.78 million shares to merely 2.73 million shares.
- Third Point led by Daniel Loeb launched new investments in Meta, Alphabet, bitcoin miner Hut 8, and SPDR Gold Shares ETF.
- Druckenmiller’s fund initiated positions in Broadcom, Caris Life Sciences, and Revolution Medicines while aggressively trimming Amazon holdings.
Major institutional investors submitted their quarterly 13F reports late Friday evening, exposing significant portfolio reshuffling for Q1 2026. Alphabet emerged as a focal point, drawing both heavy buying and notable selling from prominent hedge fund managers.
Among the sellers stood Stanley Druckenmiller’s Duquesne Family Office. The legendary investor’s firm completely divested its 385,000-share position in Alphabet Class A stock throughout the first quarter. This represented a full reversal from Q4 2025, when Duquesne had substantially grown the position from 102,000 shares. The organization offered no public statement explaining the strategic exit.
Alphabet stock finished Friday’s session at $396.78, gaining 1% for the day. Year-to-date through 2026, the stock has surged 27%. Despite this impressive annual performance, shares actually declined 8% during the January-March period, indicating that Duquesne’s exit occurred amid temporary weakness.
Druckenmiller Establishes Broadcom Position, Drastically Reduces Amazon
While abandoning Alphabet, Duquesne deployed capital strategically in other areas. The fund established a fresh Broadcom position totaling 195,955 shares. Additional new holdings included 1.89 million shares of Caris Life Sciences and 315,860 shares of Revolution Medicines.
The fund executed several substantial reductions as well. Most dramatically, it slashed its Amazon holdings from 737,940 shares down to a minimal 9,539 shares. Teva Pharmaceuticals saw a reduction from 5.87 million shares to 2.37 million, while Coupang dropped from 6.77 million shares to 2.67 million.
Duquesne completely liquidated positions in State Street Financial Select Sector SPDR, Cogent Biosciences, Entegris, Delta Air Lines, and American Airlines throughout the quarter.
TCI Accumulates Alphabet Aggressively While Third Point Enters Cryptocurrency Exposure
Contrasting sharply with Druckenmiller’s approach, Christopher Hohn’s TCI Fund Management aggressively accumulated Alphabet shares. The fund established an entirely new 2.46 million-share position in Alphabet Class A. Simultaneously, TCI expanded its Alphabet Class C holdings from 7.6 million to 8.85 million shares.
TCI enhanced several other core positions. Visa holdings grew to 30.47 million shares, while both S&P Global and Moody’s saw increased allocations. Conversely, TCI executed a massive reduction in Microsoft, slashing the position from 16.78 million shares to only 2.73 million.
Daniel Loeb’s Third Point pursued a distinctly different strategy. The fund established fresh positions across Meta, Alphabet, SPDR Gold Shares, and Hut 8, a bitcoin mining operation. These additions signal expansion into both mega-cap technology and cryptocurrency-adjacent investments. Third Point simultaneously closed out positions in Microsoft, PG&E, Brookfield Asset Management, Casey’s, and CoStar during Q1.
The divergent positioning on Alphabet among elite fund managers underscores vastly different assessments of the stock during a quarter when shares traded below January levels.
These investment decisions were revealed through required 13F regulatory filings, which capture portfolio snapshots as of March 31, 2026. As of Friday’s market close, Alphabet shares have climbed 27% year-to-date.
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