When George Soros famously shorted the British pound in 1992, managing to earn $10 billion in the process, he did so with the assistance of Stanley Druckenmiller. Druckenmiller, also a billionaire, like his former mentor, founded Duquesne Capital in 1981 and converted his fund into a family office in 2010. Now, 13F filings made public show that Druckenmiller and Soros have spent the first part of 2018 investing their sizable wealth in very different areas, despite the fact that the two have a long history of collaboration.

For Druckenmiller, Chinese Internet Companies

Druckenmiller, operating through his Duquesne Family Office, took on a stake in Chinese e-commerce titan Alibaba Group (BABA) worth $120.7 million at the end of the first quarter, according to Bloomberg. Besides this massive investment, Druckenmiller also revealed new positions in companies like Tal Education Group, a Beijing-headquartered tutoring services company, and e-commerce company Vipshop Holdings Ltd. Druckenmiller also focused his efforts on other internet companies as well, including new shares in his prior holdings of JD.com Inc. (JD) and Amazon.com Inc. (AMZN) in the first three months of the year.

By the end of the first quarter, Druckenmiller's portfolio was heavily weighted toward technology, with 43% of the publicly disclosed equity holdings in that area. A further 26% of his holdings were in the consumer discretionary sector, including the Chinese internet companies mentioned above.

For Soros, Big Banks

George Soros, on the other hand, seems to have focused his investments for Soros Fund Management on U.S. banks. Soros took on new stakes in JPMorgan Chase & Co. (JPM), Wells Fargo & Co. (WFC), and Citigroup Inc. (C) during the first quarter. At the same time, Soros added shares of Bank of America Corp. (BAC) to his holdings, while also cutting retail companies like Overstock.com, Gap Inc. and American Eagle Outfitters Inc.

Soros converted his hedge fund into a family office back in 2011 and now manages about $26 billion. The investor has continued to work frequently with outside money managers, but has been working to draw money back into his family office since he appointed Dawn Fitzpatrick as CIO in the first months of 2017.

It's important to keep in mind that 13F filings for investors like Soros and Druckenmiller do not reveal a full picture of how these investors used their money. There are other holdings which are not required for reporting by the SEC. Further, 13F filings are due within 45 days of the end of the quarter, meaning that the information is out of date at the time that it becomes available to the public. By the time of this writing, it's possible that Druckenmiller and Soros have changed any of their positions by a considerable degree.