Legendary investor Stanley Druckenmiller's Duquesne Family Office drastically reduced its position in Alcoa Corp. (AA) during the second quarter of 2026. The firm sold off nearly 88% of its holdings, cutting the stake from 1.49 million shares to just over 185,000. This move significantly lowered Alcoa's weight in Duquesne's reported portfolio from 2.93% to a minimal 0.19%.
This trade information was disclosed in a quarterly 13F filing on August 14, 2026, which reflects transactions made between April 1 and June 30. During that period, Alcoa reported record quarterly revenue and a 51% sequential increase in adjusted net income, driven by higher aluminum prices. The significant reduction was part of a broader portfolio reshuffle for Duquesne, which also saw major cuts to other holdings while increasing bets on large-cap tech companies.