To The Moon

Why Druckenmiller? Among US investment gurus, apart from Buffett, Stanley Druckenmiller is the next one I watch closely. I admired him because of: His elite long-term returns. His masterclass in macro trading. His fearless adaptability. He runs the now-private Duquesne Capital for 30 years with an average annual return of 30% and zero losing years. One of his key trading philosophies is to watch central banks and global money flows closer than individual stock charts. This is something that I am still learning and it takes a lot of time to keep abreast. The last time I covered him was back in May 2025, click here ! to read about it. With all investment guru’s 13F filings out, it is timely to revisit Druckenmiller’s latest holdings. Agree ? Latest 13F Filings. Looking at both his Q2 13Fs, the man has executed a series of aggressive tactical shifts and high-conviction trades. True to his reputation as a flexible macro investor, he has pivoted heavily towards (1) AI cloud infrastructure, (2) diagnostics, (3) commercial aviation, and (4) select media plays. At the same time, he has taken, massive profits on volatile semiconductor names. What He Bought ? (1) Mega Cap tech stocks & Cloud infra. $Alphabet(GOOGL)$ He made a major U-turn on GOOG & GOOGL. In Q1 2026, he dumped his entire 385,000-share position. By end Q2 2026, he has invested a brand-new stake of 336,300 GOOGL shares valued at approximately $120.18 - $120.2 million. The investment capitalizes on GOOGL’s: Low valuation multiple (about 17x trailing P/E and PEG of 0.969). The 82% cloud growth where Q2 2026 revenue was $24.77 - $24.8 billion. A $513.9 billion backlog. GOOG’s dual status as (a) an AI model platform (Gemini API handling 22 billion tokens/min) and (b) custom hardware host (TPUs & Xeon 6 integration). $Amazon.com(AMZN)$ : He executed a massive expansion in AMZN, adding 495,800 shares to reach 541,600 shares valued at $129.1 million. This is a rise by over +1,000%. In addition, he added 259,300 call options, bringing its total call underlying exposure to 459,300 shares valued at $109.5 million. The key attraction is Amazon Web Services growth (Q2 2026’s revenue was up by +37% to $42.2 billion, with operating income at $16.6 billion), as cloud capex converts directly to profitable growth. $Meta Platforms, Inc.(META)$ He did not buy META shares but opened call options on it. Giving him leveraged upside to META’s AI growth and ad business with less upfront cash than buying the shares outright. (2) Semiconductor & AI Compute Stack. $Advanced Micro Devices(AMD)$: Duquesne built a new position of 72,900 shares and in the process picked up exposure to accelerator compute demand. $Taiwan Semiconductor Manufacturing(TSM)$ He expanded his existing position in TSMC by 94,400 shares or +19%, bringing his total stake to 589,680 shares valued at $281.6 million. The move reflects TSM's Q2 2026’s +77% profit surge and their raised 2026 sales guidance driven by persistent AI chip production. STMicroelectronics (STM): Added further 490,000 shares to bring the total holding to 3.10 million shares, valued at $232.4 million. Reasons for the purchase is the targeted accelerated growth in (a) AI data centers and (b) low-Earth-orbit (LEO) satellite systems. Seagate Technology (STX): Also further added 71,300 shares, bringing his total to 122,000 shares with a value of $117.7 million. This as STX’s Q4 2026 quarterly free cash flow (FCF) stood at $1.1 billion. (3) Healthcare, Diagnostics, & Biotech Natera (NTRA): This is Druckenmiller’s largest disclosed position in the group. In Q2 2026, he further added 122,700 shares, bringing its total stake to 3.19 million shares, valued at $864.9 million. The purchase was backed by NTRA’s Q2 2026 reported earnings of +37.7% revenue growth ($752.8 million) and +57.2% jump in oncology testing volumes. (4) Airlines, Media & Crypto/Data Centers Airlines (Delta & United): In Q2 2026, Druckenmiller turned aggressive on commercial aviation. He has purchased new 603,000 shares in Delta Air Lines (DAL). He has also nearly tripled his United Airlines Holdings (UAL) stake to about 795,000 shares from original 265,000 shares. Fox Corp (FOX / FOXA): Druckenmiller opened a total position of about 2.8 million shares across two classes (FOX & FOXA). He purchased 2.2 million Class A shares (FOXA) worth $115.0 million, with the aim to benefit from “steady political & live-sports” ad revenue. Bitdeer Technologies Group (BTDR). Drunckenmiller has built a substantial 4+ million shares position in BTDR. This is a cryptocurrency mining and AI cloud infrastructure company headquartered in Singapore and listed on Nasdaq. Just so you know, BTDR was spun off from bitcoin-mining chip producer Bitmain in January 2021 by founder Jihan Wu. As of 18 Aug 2026, BTDR was trading at $8.94 intraday, a ‘penny’ stock no less. Riot Platforms (RIOT) He has initiated a new 754,800-share position in RIOT, leveraging power/data-center assets for AI compute hosting. FYI, this originally was a large-scale bitcoin mining facilities before venturing & pivoting to develop and lease power & data center capacity for AI and cloud computing. From the look of things, Druckenmiller seems to have lean ‘heavy’ into the crypto space ? What He Sold ? It was not just purely purchases in Q2, Druckenmiller has exited quite a handful of shares, realizing paper profits in the process. (1) 100% Sell off. Below are the list of US stocks he has fully exited. Broadcom (AVGO). Sold off the entire position registered in Q1 2026 as about 195,955 shares worth around $60.65 million. Intel Inc (INTC). Fully liquidated all 411,400 shares, worth approx. $18.16 million, following INTC’s massive price run-up of +204%. Micron Technology (MU). While the masses continues to chase after MU’s spike, Druckenmiller chose to walk away, liquidating all 23,400 shares after the stock surged over the course of Q2 2026. Cloudflare (NET) & MercadoLibre (MELI). Fully exited positions in both stocks. (2) Reduced Holdings. He has also pared down on the followings: Arm Holdings (ARM): In Q1 2026, Duquesne acquired 106,700 shares, valued at $16.14 million, based on thesis points surrounding its AGI CPU demand of $2+ billion in multi-year pipeline. However, after ARMm surged +190%, Duquesne trimmed its position by more than -70% during Q2 2026. Alcoa (AA). The same applies to AA as well. In Q2 2026, Duquesne Capital cut the position by more than -70% as well. On TSLA & SPCX. I am equally ‘curious’ about Druckenmiller’s stance on Musk’s 2 publicly traded companies - Tesla Inc (TSLA) and 2026’s IPOed - SpaceX (SPCX). I did a bit of digging and here’s my findings. Tesla (TSLA): Druckenmiller has rarely held core long equity positions in TSLA his long career. In the Q2 filings, he added call options on TSLA though. This reflects a tactical, asymmetry-driven trade rather than a buy & hold value position. Druckenmiller is fundamentally an earnings-acceleration and liquidity investor. TSLA’s multi-hundred P/E multiples historically lacked the near-term cash flow predictability he preferred He has long viewed TSLA as a highly volatile speculative vehicle rather than a core compounder. SpaceX (SPCX): Druckenmiller does not hold direct equity in SPCX via 13F filings. His primary exposure to space/satellite themes has been captured through public equities like STM and data-infrastructure plays. GOOG - Star Purchase. Interestingly, Druckenmiller’s Q2 2026 actions show notable alignment and sharp divergence. when compared to other legendary investment gurus. However, there is one stock that all of them seemed to agree upon. It is none other than Alphabet (GOOG), which he as re-piled into during Q2 2026. Billionaire consensus over Alphabet Inc Multi-Billionaire Consensus. The most striking finding across the Q2 disclosures is the rare convergence on Alphabet: Berkshire Hathaway / Greg Abel: Added 24.5 million of GOOGL shares - totalling 78.8 million shares with a value of $28.16 billion) and 23.6 million of GOOG shares, reaching 27.2 million shares valued at $9.61 billion. B). Berkshire viewed GOOG as a mispriced franchise trading at 15x–17x earnings and with massive cash flow According to WSJ reporting, it was Mr Buffett himself who pushed for the outsized accumulation. Seth Klarman (Baupost Group): Added 190,800 shares to reach 1.37 million GOOG shares, with a value of $484.7 million. David Tepper (Appaloosa Management): The lengendary Mr Tepper added 117,300 shares to reach 1.85 million GOOG shares with a value of $653.7 million. Dan Loeb (Third Point): Scaled up his GOOGL stake from 175,000 to 1.025 million shares, valued at $366.3 million. In summary, Druckenmiller joined the elite consensus with his new $120.2 million GOOGL position. (see above) Will you be tempted to take a stake in GOOG, now that US market is in pullback phase ? Remember to check out my other posts. (See below). Help to Repost ok, Thanks. Must Read: Click on below titles to access. Repost to share, Like as encouragement ok. Thanks. Cooling inflations, Time to buy the Dip ? NVDA hits $236 breakout before Q2 results ? Neoclouds war - CRWV vs NBIS. Winner ? Do you think GOOG is the real investment buy ? Do you think AMZN & TSM are the next best investment alternatives ? If you find this post interesting, give it wings! ️ Repost and share the insights ? Do consider “Follow me” and get firsthand read of my daily new post. Thank you. @Daily_Discussion @TigerPM @TigerStars @Tiger_SG @TigerEvents