Billionaire Stanley Druckenmiller Dumped Broadcom and 11X'd His Fund's Stake in This Trillion-Dollar Dual-Industry Leader
One of the stock market’s most successful and active money managers is making eyebrow-raising moves within the artificial intelligence (AI) arena.
Overview
Although earnings season tends to garner all the glory, the quarterly filing of Form 13Fs with regulators can be just as valuable. A 13F provides investors with a concise snapshot of which stocks and exchange-traded funds Wall Street's savviest money managers have been buying and selling.
Following the retirement of Warren Buffett on Dec. 31, there's arguably no billionaire money manager more closely monitored than Duquesne Family Office's Stanley Druckenmiller, who runs an active fund that's consistently outpaced the average annual returns of the benchmark S&P 500. During the second quarter, Druckenmiller bid adieu to artificial intelligence (AI) behemoth Broadcom (NASDAQ:AVGO) and increased his fund's stake in dual-industry leader Amazon (NASDAQ:AMZN) by 1,083%!
Stanley Druckenmiller was a busy bee in the second quarter. Image source: Getty Images.
Details
Source
Originally published at www.fool.com.