Stanley Druckenmiller's Duquesne Family Office fully exited Micron and Intel in the second quarter while more than 11X'ing its Amazon stake, its latest 13F filing shows. The same filing shows Duquesne opening new positions in Bitcoin mining stocks Bitdeer, Riot Platforms, Hut 8 and IREN.
Duquesne Family Office sold all 23,400 shares of Micron Technology and all 411,400 shares of Intel it held, according to its second-quarter 13F filing. At the same time, the fund bought 495,800 shares of Amazon, lifting its stake by 1,083% from the end of March.
Micron and Intel exits follow sharp rallies
Micron's stock more than tripled between the start of April and the end of June. Intel's stock climbed from the mid-$40 range to as high as $141 over the same stretch. Profit-taking is the most logical reason Druckenmiller closed both positions, given those gains. In total, Duquesne sold out of 23 stocks and trimmed 10 others during the quarter.
In a May 2024 interview with CNBC, Druckenmiller said: "AI might be a little overhyped now, but underhyped long term."
Amazon becomes a top-ten holding
The Amazon purchase made the stock a top-ten position at Duquesne. Amazon Web Services is pacing $169 billion in annual run-rate revenue. Wall Street estimates Amazon's cash flow per share will more than double, from $12.89 in 2025 to north of $30 in 2028.
New stakes in Bitcoin miners
Separately, Duquesne opened a 4.07 million share position in Bitdeer Technologies. The fund also added 754,800 shares of Riot Platforms, 314,150 shares of Hut 8 and 87,100 shares of IREN. Its total assets under management climbed to roughly $5.21 billion across 95 holdings, with the top ten positions accounting for 45.83% of that total.
Sources: Motley Fool, Crypto Briefing
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