Billionaire investor Stanley Druckenmiller offloaded his entire stake in Alphabet (GOOGL) during this year’s first quarter and bulked up his position in Taiwan Semiconductor Manufacturing Co. (TSM).
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Druckenmiller, who runs the Duquesne Family Office, is known for never having a down year in his investment portfolio and is closely followed by investors and traders. According to his latest 13-F regulatory filing with the U.S. Securities and Exchange Commission (SEC), Druckenmiller spent much of the first quarter shifting capital among various technology stocks.
The famed investor also trimmed his stake in e-commerce giant Amazon (AMZN) and electric vehicle maker Tesla (TSLA). He opened an entirely new position in AppLovin Corp. (APP), and beefed up his holding of Taiwan Semiconductor Manufacturing Co., adding nearly 500,000 shares and making the stock 3.33% of his portfolio.
Druckenmiller’s portfolio through the Duquesne Family Office has assets under management of $2.98 billion.
Other Moves
In previous quarters, Druckenmiller had place big bets on U.S. airlines, opening positions and bullish call options on American Airlines (AAL), Delta Air Lines (DAL), and United Airlines (UAL). Those positions now appear to have been pared back as the share prices of U.S.-based carriers slumped.
Druckenmiller’s biggest position by dollar value remains biotechnology firm Natera (NTRA), followed by longtime holding Teva Pharmaceutical Industries (TEVA). During Q1 of this year, the investor also added to his existing holding of tech company Coupang (CPNG), which now ranks among his largest positions.
The SEC requires all investment managers that hold over $100 million in securities to disclose their positions via quarterly filings known as 13-Fs. The filings are for the previous quarter’s activity.
Is GOOGL Stock a Buy?
The stock of Alphabet has a consensus Strong Buy rating among 37 Wall Street analysts. That rating is based on 28 Buy and nine Hold recommendations issued in the last three months. The average GOOGL price target of $197.69 implies 19.10% upside from current levels.
