Billionaire Stanley Druckenmiller Kicked Micron to the Curb in the Second Quarter in Favor of an AI Superstar That's Gained 13,700% Since Its IPO
Duquesne Family Office's billionaire boss was a busy bee in the artificial intelligence (AI) arena during the second quarter.
Overview
Arguably, few events are more exciting for investors than the filing of Form 13Fs with regulators. No later than 45 calendar days after a quarter ends, institutional investors with at least $100 million in assets under management are required to file a 13F detailing their second-quarter buying and selling activity.
Among billionaire money managers, few 13Fs are more anticipated than Stanley Druckenmiller's. Duquesne Family Office's billionaire boss has a knack for spotting amazing deals hiding in plain sight and has an exemplary track record of selling at the right time. During the second quarter, Druckenmiller kicked red-hot artificial intelligence (AI) stock Micron Technology (NASDAQ: MU) to the curb and piled into AI superstar Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG), which has rallied 13,700% since its initial public offering (IPO) in August 2004.
Duquesne Family Office's Stanley Druckenmiller is one of Wall Street's most followed billionaire money managers. Image source: Getty Images.
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Originally published at www.fool.com.