Billionaire Stanley Druckenmiller is increasing his stake in a pair of Magnificent 7 stocks while eliminating exposure to the banking sector.
New files show Duquesne Family Office increased its stake in Alphabet (GOOGL) by 277% to 385,000 shares and its stake in Amazon (AMZN) by 69% to 737,940 shares.
Meanwhile, Druckenmiller exited positions in Citigroup (C), Bank of America (BAC) and Capital One (COF). The documents show that Duquesne Family Office dumped 989,250 BAC shares, 514,850 C shares and 43,920 COF shares, bringing the company’s total to zero.
Other notable stocks downgraded by Druckenmiller include social media powerhouse Meta Platforms (META), formerly known as Facebook, sporting goods retailer Dick’s Sporting Goods (DKS) and restaurant chain Texas Roadhouse (TXRH).
New stock purchases include Delta Air Lines (DAL), financial services firm Goldman Sachs (GS) and real estate giant Zillow (Z).
According to the data, Duquesne Family Office was worth just under $4.5 billion at the end of last year, an increase of nearly $500 million from the previous quarter.
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