Stanley Druckenmiller's Q2 Portfolio Shifts: AI, Chips, and Big Banks

Stanley Druckenmiller, a legendary macro investor, made significant shifts in his portfolio in Q2, establishing major new positions in AI and semiconductor leaders, and rotating into large-cap banks. Notable moves include a $132.7 million stake in Entegris, a critical supplier of materials for the semiconductor industry, and a $99.9 million stake in Microsoft, a leader in cloud computing and AI software. Druckenmiller also initiated bullish call options on the S&P 500 and Russell 2000, signaling confidence in the American economy.

Legendary macro investor Stanley Druckenmiller made significant shifts in his portfolio during the second quarter, reflecting a deep conviction in the technology powering the AI revolution and a strategic rotation into large-cap banks. According to the latest 13F filing for his Duquesne Family Office, Druckenmiller established major new positions in artificial intelligence and semiconductor leaders, while also rotating into large-cap banks [1].

Notable moves included a $132.7 million stake in Entegris Inc. (ENTG), a critical supplier of materials for the semiconductor industry, and a $99.9 million stake in Microsoft Corp. (MSFT), a leader in cloud computing and AI software. Druckenmiller also 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 [1].

Additionally, Druckenmiller increased his stake in Taiwan Semiconductor Manufacturing Co. Ltd. (TSM) by over 166,000 shares, making it a $173 million position, and initiated a new position in chipmaker Broadcom Inc. (AVGO). These moves indicate a broad bet on the entire AI value chain, from chip designers and manufacturers to software giants that deploy the technology [1].

Druckenmiller also repositioned his financial holdings, moving out of consumer-focused credit and into systemically important global banks. He completely sold his $35.4 million stake in Capital One Financial Corp. (COF) and initiated several new positions, including $56.7 million in Citigroup Inc. (C), $29.7 million in Goldman Sachs Group Inc. (GS), and a $51.6 million position in the Financial Select Sector SPDR Fund (XLF) [1].

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 (IWM), a bet on a rally in small-cap stocks, and a $55.6 million call position on the SPDR S&P 500 ETF Trust (SPY), signaling broad market optimism [1].

Druckenmiller's portfolio today reflects a belief that the AI revolution and next-gen computing will remain powerful tailwinds for years to come. His tech-heavy holdings show where he sees enduring growth in the next phase of digital transformation [2].

References:
[1] https://www.benzinga.com/markets/hedge-funds/25/08/47177810/legendary-investor-stanley-druckenmiller-made-huge-ai-and-chipmaker-bets-in-q2-heres-what-he-knows-that-you-dont
[2] https://www.tikr.com/blog/stanley-druckenmillers-portfolio-5-of-the-best-stocks-to-buy-today