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Family offices and investment firms are shaking up their portfolios and betting on stocks that would post strong recoveries from the COVID-19 pandemic, Bloomberg reported.
Stanley Druckenmiller’s Duquesne Family Office has divested from Citigroup Inc., while increasing holdings in Airbnb Inc., Marriott International Inc., Expedia Group Inc., Starbucks Corp., Netflix Inc., and Moderna Inc.
Bluecrest Capital Management exited 221 stocks, while adding 104 stocks including a $105-million investment in 51Job Inc. Its portfolio has since fallen by over $1 billion to an estimated $3 billion.
Blue Pool Capital more than doubled its portfolio to nearly $1.2 billion at the end of the quarter, with the biggest holding in Blue Owl Capital worth $748 million. The office manages part of the fortunes of Chinese billionaires Joe Tsai and Jack Ma.
Iconiq Capital also saw its portfolio climb to $14.7 billion from $5.8 billion, with the biggest investment in Snowflake Inc. estimated at $8 billion at the end of the quarter. It also owns a $644-million stake in Blue Owl.
Wildcat Capital Management exited its holdings in Snowflake and South Korea’s Coupang Inc., leaving its portfolio at $881 million at the end of the quarter. ABNB is down 1.16%, MAR down 0.23%, EXPE down 1.03%, SBUX down 0.52%, NFLX up 0.90%, MRNA down 2.62%, JOBS up 0.30%, OWL down 1.24%, SNOW up 0.62%, and CPNG down 1.58%.
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