"Stanley Druckenmiller started adding Nvidia shares in late 2022, very early on after ChatGPT's release. He bought in Q4 2022, Q1 2023, and Q2 2023. But starting in Q3 2023, he started shedding his NVDA stake. He sold for 5 straight quarters as NVDA stock climbed higher and higher. He sold his last NVDA share in Q3 2024, when NVDA stock reached nearly $135. The stock is at $178 today, so did Druckenmiller make a massive mistake? Likely not."
"His current portfolio contains 62 holdings. You'd expect his top holdings to be the usual Mag 7, plus some AI stocks. After all, how can you perform well without investing in these stocks? Almost every hedge fund and ETF that tried to sidestep these stocks ended up lagging the market. Remember, Druckenmiller isn't just hedge fund manager. He has managed to do well with his top holdings being almost devoid of any AI software companies, with the only AI bet being ."
Stanley Druckenmiller achieved over 30% average annual returns for three decades at Duquesne Capital without a single losing year. His portfolio rose 9.07% in Q3 2025 and contains 62 holdings. He largely avoids major AI software companies, holding only one AI bet. He acquired Nvidia shares in late 2022 through Q2 2023, then sold continuously from Q3 2023, exiting by Q3 2024 near $135 while Nvidia trades at $178 now. He rotated profits into top three holdings that outperformed Nvidia. He has an on-and-off position in Palantir, buying and selling across 2021–2024.
Read at 24/7 Wall St.
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