A version of this story previously ran in Financial Advisor IQ's sister publication, FundFire.

The family office of famed hedge fund manager Stanley Druckenmiller sold its position in Facebook parent Meta before its share price plummeted, Bloomberg reports.

The quarterly 13F filings of Druckenmiller’s Duquesne Family Office reveal that the firm ditched its $35.9 million holding in Meta, which dipped by 26% earlier this month, and made a $100 million investment in energy group Chevron.

Bloomberg reports that the 13F regulatory filings, required by the Securities and Exchange Commission for managers overseeing more than $100 million in U.S. equities, indicate that Druckenmiller, who has a net worth of $10.4 billion, according to the Bloomberg Billionaires Index, was not the only wealthy investor to cut back on big tech holdings.

Soros Fund Management, the family office of George Soros, trimmed investments in Amazon and Google parent Alphabet, as well as the largest exchange traded fund tracking the Nasdaq 100, according to the news service.

Meanwhile Blue Pool Capital, the Hong Kong-based firm that invests the wealth of Alibaba co-founders Joe Tsai and Jack Ma, sold investments in Microsoft, Amazon, Alphabet and PayPal before the recent tech dip.

Bloomberg also reports that WIT LLC, which invests part of the fortune of the Walton family behind retail giant Walmart, invested in Madrigal Pharmaceuticals and sold out of agriculture tech platform Pinduoduo. Most of WIT LLC’s $4.5 billion asset pool is in ETFs.