In his second-quarter 13F filing, legendary investor Stanley Druckenmiller of Duquesne Family Office revealed a significant portfolio rotation, re-establishing a major position in Alphabet and aggressively adding to stakes in Amazon and Taiwan Semiconductor. The filing, which covers the period ending June 30, 2026, showed a total portfolio value of $5.21 billion and a high degree of turnover, with 48 new positions and 27 exits. The top holding remained Natera (NTRA), but the most significant changes signaled a strategic shift in the firm's AI-related bets.
The most notable new buy was a $120.2 million stake in Alphabet (GOOGL), a stock Duquesne had exited in the previous quarter. This was complemented by a more than 1,000% increase in the firm's Amazon (AMZN) position and a 19% boost to its Taiwan Semiconductor (TSM) holding. These moves suggest a rotation away from certain semiconductor companies and toward cloud hyperscalers and key foundry partners at the center of the AI buildout. Other new buys included positions in Fox Corp (FOXA) and Bitdeer Technologies.
To fund these new bets, Druckenmiller exited several high-profile semiconductor names entirely, including Broadcom (AVGO), Intel, and Micron Technology. The filing also showed significant reductions in positions like Alcoa Corp, which was cut by nearly 88%, and Roku. This large-scale repositioning underscores a dynamic, macro-driven strategy, moving capital from appreciated legacy tech names toward companies perceived as primary beneficiaries of AI infrastructure and monetization.