Legendary Investor Stanley Druckenmiller Made Huge AI And Chipmaker Bets In Q2 — Here's What He Knows That You Don't
Legendary macro investor Stanley Druckenmiller made significant shifts in his portfolio in the second quarter, establishing major new positions in artificial intelligence and semiconductor leaders, rotating into large-cap banks, and placing a broadly bullish bet on the U.S. stock market, according to the latest 13F filing for his Duquesne Family Office.
Key Duquesne 13F Changes In Q2
The filing reveals a flurry of activity, highlighted by a new nine-figure stake in chip supplier Entegris Inc. (NASDAQ:ENTG) and a nearly $100 million investment in Microsoft Corp. (NASDAQ:MSFT).
Simultaneously, Druckenmiller initiated bullish call options on both the S&P 500 and the Russell 2000, signaling confidence in the American economy, from megacaps to small-cap stocks. Duquesne had 69 holdings valued at $4.071 billion as of the end of the second quarter.
| Action | Company Name | Q2 Market Value ($ thousands) | Notes |
| New Position | Entegris Inc. (NASDAQ:ENTG) | $132.741 million | Largest new buy; key semiconductor supplier. |
| New Position | Microsoft Corp. (NASDAQ:MSFT) | $99.945 million | Major new bet on megacap tech and AI. |
| New Position | iShares Russell 2000 ETF (NYSE:IWM) | $72.290 million | Bullish call options on U.S. small-cap stocks. |
| New Position | Citigroup Inc. (NYSE:C) | $56.715 million | Part of a broader rotation into big banks. |
| Position Exited | Capital One Financial Corp. (NYSE:COF) | $0 | Exited a position valued at ~$35.4M in Q1. |
| Position Exited | Amazon.com Inc. (NASDAQ:AMZN) | $0 | Completely sold a stake worth ~$26M in Q1. |
| Position Exited | Springworks Therapeutics Inc. (NASDAQ:SWTX) | $0 | Divested a ~$27.2M biotech holding. |
| Increased Stake | Insmed Inc. (NASDAQ:SWTX) | $226.786 million | More than doubled position; a top holding. |
| Increased Stake | Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM) | $173.284 million | Added significantly to a core AI play. |
| Decreased Stake | Coupang Inc. (NYSE:CPNG) | $122.999 million | Slashed share count by 56% in e-commerce giant. |
| Decreased Stake | Barclays PLC (NYSE:BCS) | $28.814 million | Cut position in the British bank by nearly 60%. |
A Big Bet on AI and Tech Infrastructure
The most prominent theme in the second-quarter filing is a deep conviction in the technology powering the AI revolution. Duquesne established a new $132.7 million position in Entegris, a critical supplier of materials for the semiconductor industry.
This was complemented by a new $99.9 million stake in Microsoft, a leader in cloud computing and AI software. Druckenmiller also initiated a position in chipmaker Broadcom Inc. (NASDAQ:AVGO) and significantly increased his holding in Taiwan Semiconductor, adding over 166,000 shares to make it a $173 million position.
This collection of moves indicates a broad bet on the entire AI value chain, from chip designers and manufacturers to software giants that deploy the technology.
Rotating Into Big Banks
Druckenmiller also repositioned his financial holdings, moving out of consumer-focused credit and into systemically important global banks. The firm completely sold its $35.4 million stake in Capital One.
In its place, Duquesne initiated several new positions, including $56.7 million in Citigroup, $29.7 million in Goldman Sachs Group Inc. (NYSE:GS), and a $51.6 million position in the Financial Select Sector SPDR Fund (NYSE:XLF), a broad bet on the entire sector. These moves suggest a belief that large, diversified banks are better positioned for the current economic environment.
Bullish On The U.S. Market
Beyond individual stocks, Druckenmiller made a significant macro statement by purchasing call options on two major U.S. stock indices. The filing shows a new $72.3 million call position on the iShares Russell 2000 ETF, a bet on a rally in small-cap stocks, which are often seen as a barometer for the health of the domestic economy.
He coupled this with a $55.6 million call position on the SPDR S&P 500 ETF Trust (NYSE:SPY), signaling broad market optimism. For a macro investor of Druckenmiller’s stature, taking such direct positions is a clear and confident signal of his economic outlook.
Other Notable Moves
Among other changes, Duquesne significantly trimmed its stake in South Korean e-commerce leader Coupang, selling nearly 5.2 million shares. Conversely, the firm more than doubled its investment in biotech company Insmed, making it one of the portfolio’s largest holdings at $226.8 million.
Price Action
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, fell on Friday. The SPY was down 0.23% at $643.44, while the QQQ declined 0.44% to $577.34, according to Benzinga Pro data.
On Monday, the futures of the S&P 500, Nasdaq 100, and Dow Jones indices were trading mixed.
Read Next:
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image Via shutterstock
Contact Us
Contact Number : +852 3852 8500Service Email : service@webull.hkBusiness Cooperation : marketinghk@webull.hkWebull Securities Limited is licensed with the Securities and Futures Commission of Hong Kong (CE No. BNG700) for carrying out Type 1 License for Dealing in Securities, Type 2 License for Dealing in Futures Contracts and Type 4 License for Advising on Securities.
English