Not Just Buffett: Druck, Tepper, Soros All Dumped Tech Before The Rout: 13F Summary

It wasn't just Warren Buffett slashing his Apple stake by more than half: in the second quarter a veritable who is who of the hedge fund community were dumping tech exposure (just as we said at the time, but without knowing names, see "Hedge Funds Dumping Record Amounts Of Tech Stocks To Retail Investors" from June 26).

According to the latest 13F filed by the smart money, besides Buffett, some of the luminaries who trimmed their holdings in “Magnificent Seven” stocks ahead of the late July rout were George Soros and Stanley Druckenmiller.

Soros Fund Management sold some of its stake in Alphabet totaling $58 million, and about $15 million of Amazon.com, according to regulatory filings for the three months ended in June.