Billionaire investor Stanley Druckenmiller‘s family office Duquesne has divested his entire stake in Broadcom, simultaneously increasing his investments in major tech companies, as revealed in a recent 13-F filing.
What Happened: According to a recent SEC filing, Druckenmiller, a seasoned investor, sold all his shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter. This move comes on the heels of his total exit from Nvidia (NASDAQ:NVDA), a competing chipmaker, a few months prior.
In the closing months of 2024, Druckenmiller significantly reduced his tech stock portfolio, selling his entire stakes in Microsoft Corp. (NASDAQ:MSFT), Adobe Inc. (NASDAQ:ADBE) and Autodesk Inc. (NASDAQ:ADSK). He also completely sold his stake in Starbucks Corp. (NASDAQ:SBUX) and his shares in insurance company Chubb Ltd. (NYSE:CB).
Despite these divestments, Druckenmiller increased his investments in several big tech companies in the same quarter, acquiring new positions in Alphabet Inc. (NASDAQ:GOOGL), Amazon.com Inc. (NASDAQ:AMZN), and Elon Musk‘s electric vehicle manufacturer Tesla Inc. (NASDAQ:TSLA).
Druckenmiller’s Duquesne also initiated new investments in United Airlines (NYSE:UAL), Delta Air Lines (NYSE:DAL), Warner Bros. (NYSE:WBD), Skechers (NYSE:SKX), and Eli Lilly (NYSE:LLY).
The most significant holding in his Duquesne Family Office remains Natera (NASDAQ:NTRA), the clinical genetic-testing company in which they held a stake since 2022. Natera holdings account for just over 15% of the portfolio. Meanwhile, the firm increased its stake in Teva Pharmaceuticals (NYSE:TEVA) by nearly 6.3 times.
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Why It Matters: Druckenmiller, who formerly managed hedge funds for George Soros, now manages his own wealth through the Duquesne Family Office, which has investments worth nearly $3.72 billion.
The billionaire investor’s latest moves follow his earlier divestments in AI stocks. During the third quarter of 2024, Druckenmiller sold all of its Nvidia shares and significantly reduced its Palantir holdings by 95%. This occurred despite Nvidia and Palantir experiencing significant stock surges that year, with Nvidia’s stock increasing nearly 190% and Palantir’s shares gaining over 386%.
The current quarter’s exit from Broadcom despite the stock surging more than 100% over the past year appears as a profit booking move. Meanwhile, other additions in big tech stocks show his growing confidence in the sector.
Druckenmiller added Tesla to its portfolio which surged over 83% in the past year. However, the stock plunged more than 16% over the last month, amid declining global sales, regulatory roadblocks in China, earnings disappointment, and Musk’s increasing political involvement.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
