Billionaire Stanley Druckenmiller Dumped 94% of His Fund's Amazon Stake and Piled Into a Scorching-Hot Chip Stock for the First Time in 8 Years
Although earnings season is the pinnacle for most investors each quarter, don't overlook the value of Form 13F filings with regulators. A 13F details which stocks Wall Street's savviest money managers bought and sold in the latest quarter. This includes Duquesne Family Office's s
Although earnings season is the pinnacle for most investors each quarter, don't overlook the value of Form 13F filings with regulators. A 13F details which stocks Wall Street's savviest money managers bought and sold in the latest quarter. This includes Duquesne Family Office's seasoned billionaire investor, Stanley Druckenmiller.
Duquesne's 13F shows that Druckenmiller sent shares of e-commerce goliath Amazon (NASDAQ: AMZN) to the chopping block, while at the same time piling into one of Wall Street's red-hot chip stocks, Intel (NASDAQ: INTC) .
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In each of the final two quarters of 2025, Duquesne's billionaire boss was a buyer of Amazon stock . He opened a position by purchasing 437,070 shares during the September-ended quarter, and tacked on an additional 300,870 shares in the fourth quarter. When 2025 came to a close, Amazon was Duquesne's seventh-largest position by market value.
But that's ancient history. Druckenmiller sold 692,140 shares of Amazon in the March-ended quarter, effectively slashing his fund's stake by 94%.
Druckenmiller is an active investor, meaning something as simple as stop losses may have come into play in the first quarter. The Iran war-driven swoon on Wall Street dragged Amazon shares from a range of $225 to $240 during the final six months of 2025 to around $200 in the first quarter. The average time held for a top-10 holding in Duquesne's investment portfolio is just five months.
However, short-term price movement may not tell the full story.
In a May 2024 CNBC interview, Druckenmiller opined that artificial intelligence (AI) "might be a little overhyped now, but underhyped long term." The world's No. 1 cloud infrastructure services platform, Amazon Web Services, has seen its high-margin sales accelerate following the integration of AI solutions. Yet, Amazon shares aren't cheap by traditional fundamental metrics, such as the price-to-earnings ratio. Valuation may have been the impetus that encouraged Druckenmiller to show most of his fund's Amazon stake to the door.
