Stanley Druckenmiller's Duquesne Family Office Exits Palantir, Boosts Philip Morris Stake

Stanley Druckenmiller's Duquesne Family Office sold its stake in Palantir Technologies and reduced its holding in Philip Morris International. The fund exited Palantir after a 100% decrease in holdings and trimmed its Philip Morris stake by 18%. Despite the reduction, the value of Philip Morris increased by $163 million. The fund also exited other major positions and built new stakes in Docusign, CCC Intelligent Solutions, EQT, and Caesars Entertainment.

In a significant shift in its investment strategy, Stanley Druckenmiller's Duquesne Family Office LLC has made notable changes to its holdings in the first quarter of 2025. The fund reduced its stake in Palantir Technologies Inc. (PLTR) and trimmed its position in Philip Morris International Inc. (PM). These moves come amid a broader portfolio reconfiguration that includes new investments and exits from several major positions.

Palantir Technologies

The most striking move was the complete exit from Palantir Technologies, where the fund held 41,710 shares as of the fourth quarter of 2024. By the end of the first quarter of 2025, the fund had sold all its shares, marking a 100% decrease in holdings [1]. This move follows a similar pattern observed with Nvidia Corp. (NVDA), where Druckenmiller sold his stake in the fourth quarter of 2024. The decision to sell Palantir could be attributed to concerns about valuation, given the stock's high price-to-sales ratio of 111, which is typically seen in development-stage companies [2].

Philip Morris International

While the fund reduced its stake in Philip Morris International by 18%, the value of its holdings increased by $163 million to $175.439 million. The fund held 1,105,268 shares in Philip Morris as of the first quarter of 2025, compared to 1,352,255 shares at the end of the fourth quarter of 2024 [1]. This increase in value, despite the reduction in shares, highlights the fund's strategic approach to dividend-yielding stocks. Philip Morris has a dividend yield of 3%, and it has gained 48.56% year-to-date and 71.23% over the last year [1].

Other Portfolio Changes

Beyond these two key holdings, the Duquesne Family Office has made several other adjustments. It exited major positions in Skechers USA Inc. (SKX), SLM Corp. (SLM), Warner Bros. Discovery Inc. (WBD), and American Airlines Group Inc. (AAL). Concurrently, the fund built new stakes in Docusign Inc. (DOCU), CCC Intelligent Solutions Holdings Inc. (CCCS), EQT Corp. (EQT), and Caesars Entertainment Inc. (CZR) [1].

Market Context

The broader market context saw a slight decline in the SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust ETF (QQQ) on Friday, July 1, 2025. The SPY fell by 0.35% to $623.62, while the QQQ declined by 0.23% to $554.20 [1].

Conclusion

Stanley Druckenmiller's Duquesne Family Office's moves reflect a strategic rebalancing of its portfolio, with a focus on both valuation and diversification. The exit from Palantir and the reduction in Philip Morris holdings are part of a broader trend that includes new investments and exits from several major positions. These moves underscore Druckenmiller's active trading style, where he capitalizes on opportunities based on valuation and trends.

References

[1] https://www.benzinga.com/markets/hedge-funds/25/07/46386374/stanley-druckenmillers-duquesne-dumps-palantir-bets-big-on-this-dividend-play-which-has-surged-nearly-50-in-2025
[2] https://seekingalpha.com/article/4800025-how-palantir-quietly-eats-the-market?source=affiliate_program:stockanalysis.com&utm_medium=affiliate&utm_source=stockanalysis.com&affid=858&oid=16&transaction=f40a5ef900ea4fa298a72e163a14b6d5