Key Highlights
- Duquesne Family Office under Stanley Druckenmiller liquidated its complete 385,000-share stake in Alphabet during Q1 2026.
- TCI Fund Management led by Christopher Hohn established a fresh 2.46 million-share Alphabet Class A position and boosted Class C holdings to 8.85 million shares.
- Microsoft saw a dramatic reduction from TCI, dropping from 16.78 million shares to merely 2.73 million.
- Third Point under Daniel Loeb launched fresh positions in Meta, Alphabet, bitcoin miner Hut 8, and gold ETF SPDR Gold Shares.
- Druckenmiller’s fund initiated holdings in Broadcom, Caris Life Sciences, and Revolution Medicines while dramatically reducing Amazon exposure.
Major institutional investors submitted their Q1 2026 13F reports late Friday evening, exposing significant portfolio adjustments. Alphabet emerged as a focal point, drawing contrasting actions from prominent money managers.
Stanley Druckenmiller’s Duquesne Family Office stood among the notable sellers. The investment firm liquidated its complete 385,000-share Class A Alphabet holding throughout the first quarter. This position had previously grown during Q4 2025, when Duquesne expanded it from 102,000 shares. The organization offered no public statement explaining the divestiture.
Alphabet stock finished Friday’s session at $396.78, advancing 1% for the day. Year-to-date gains total 27% through 2026. Nevertheless, during the January 1 through March 31 period, the stock declined 8%, indicating Duquesne’s Q1 departure occurred amid downward price movement.
Broadcom Entry and Amazon Reduction at Duquesne
Although Duquesne divested Alphabet, the fund executed numerous other transactions. It established a fresh Broadcom holding, acquiring 195,955 shares. The firm also initiated a Caris Life Sciences position comprising 1.89 million shares and purchased 315,860 shares of Revolution Medicines.
Significant reductions accompanied these additions. The fund drastically trimmed its Amazon holding, decreasing from 737,940 shares down to a minimal 9,539 shares. Teva Pharmaceuticals experienced a cut from 5.87 million shares to 2.37 million, while Coupang dropped from 6.77 million shares to 2.67 million.
Duquesne additionally closed out positions in State Street Financial Select Sector SPDR, Cogent Biosciences, Entegris, Delta Air Lines, and American Airlines throughout the quarter.
TCI Accumulates Alphabet While Third Point Explores Cryptocurrency Exposure
Contrary to Druckenmiller’s approach, Christopher Hohn’s TCI Fund Management accumulated shares. The fund established an entirely new 2.46 million-share Alphabet Class A position. Simultaneously, it expanded its Alphabet Class C ownership from 7.6 million to 8.85 million shares.
TCI expanded several other holdings as well. It elevated its Visa position to 30.47 million shares and grew stakes in both S&P Global and Moody’s. Conversely, TCI executed a substantial Microsoft reduction, slashing the position from 16.78 million shares down to only 2.73 million.
Daniel Loeb’s Third Point pursued a distinct strategy. The fund launched new investments in Meta, Alphabet, SPDR Gold Shares, and Hut 8, a bitcoin mining operation. These moves represent expansion into both major technology companies and cryptocurrency-related investments. Third Point simultaneously eliminated positions in Microsoft, PG&E, Brookfield Asset Management, Casey’s, and CoStar during Q1.
The divergent Alphabet transactions across prominent hedge funds underscore the varying perspectives top investors maintained toward the stock during a quarter characterized by prices below year-opening levels.
These portfolio adjustments became public through required 13F regulatory filings, capturing investment positions as of March 31, 2026. Alphabet stock has climbed 27% year-to-date through Friday’s market close.
