Summary List Placement
- Stanley Druckenmiller’s family office dumped over $100 million of Netflix stock in the fourth quarter.
- 13F filings also show the Duquesne Family Office increased its stake in cybersecurity company Palo Alto Networks by 457%.
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Billionaire investor Stanley Druckenmiller is betting big on tech stalwarts and cybersecurity, but sold some of the IT industry’s biggest names in the fourth quarter of 2020, according to a securities filing released Tuesday.
Druckenmiller’s Duquesne Family Office reported a 13F filing that included $3,712,696,000 in managed 13F securities. The largest holding is Microsoft Corporation; the hedge fund holds 2,638,074 shares.
Duquesne sold all of its 278,372 shares of Netflix. The streaming giant made up 4.04% of the fund and the stake was valued at $139.1 million at the end of the third quarter.
The hedge fund also increased its bet on cybersecurity company Palo Alto Networks. . Druckenmiller’s office increased its stake in Palo Alto Networks by 457%, adding shares estimated to be worth $335 million. Duquesne first started buying Palo Alto Networks in the third quarter of 2020.
The cybersecurity company is now Duquesne’s sixth largest position, behind Microsoft, T-Mobile, Amazon, Starbucks, and mining company Freeport-McMoRan.
Other notable moves from Duquesne include:
- Sold 545,755 shares of Alibaba, which made up 4.66% of the Duquesne Family Office portfolio in the previous quarter.
- Sold the entire remaining stake in Facebook, shedding 207,895 shares.
- Reduced stake in Penn National Gaming by 19%.