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Quarterly-filed Form 13Fs allow investors to track which stocks Wall Street’s savviest money managers have been buying and selling.
Duquesne Family Office’s billionaire chief sent shares of Micron and Intel packing — and profit-taking is likely only part of the story.
Meanwhile, Druckenmiller increased his fund’s stake in a dual-industry leader by 1,083% in the June-ended quarter.
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Although earnings season is typically the highlight of each quarter for investors, the filing of Form 13Fs with regulators can be equally valuable. A 13F details which stocks Wall Street’s smartest money managers, such as Duquesne Family Office’s billionaire boss, Stanley Druckenmiller, bought and sold in the latest quarter.
Druckenmiller is an active money manager with an attraction to innovation-focused companies. Duquesne’s latest 13F, detailing second-quarter trading activity, shows that its billionaire chief dumped shares of Micron Technology (NASDAQ: MU) and Intel (NASDAQ: INTC), while absolutely piling into the favorite artificial intelligence (AI) stock of billionaire investors: Amazon (NASDAQ: AMZN).
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Billionaire Stanley Druckenmiller moved into and out of dozens of positions in the second quarter. Image source: Getty Images.
Stanley Druckenmiller sends Micron and Intel packing
Druckenmiller was a busy bee in the June-ended quarter, with 23 stocks getting the heave-ho and 10 others reduced. But what really stands out is the 23,400 shares of Micron and 411,400 shares of Intel that were sold.
Profit-taking is the most logical reason that these two high-flying semiconductor stocks were shown the door. Following a short-lived pullback in the broader market in March, shares of Micron more than tripled between the start of April and the end of June. It’s a similar story for chipmaker Intel, whose stock catapulted from the mid-$40 range to as high as $141.
Both companies find themselves well-positioned to thrive amid the evolution of AI. Intel’s central processing units are essential in AI-accelerated data centers, while demand for Micron’s high-bandwidth memory is off the charts.
Nevertheless, history hasn’t been too kind to game-changing technologies. Every major technological innovation since (and including) the advent of the internet has navigated an early stage bubble-bursting event. These bubbles form because investors constantly overestimate the pace of optimization for a new technology. Although AI infrastructure adoption isn’t an issue, it’ll likely take several years for businesses to optimize their AI solutions.
In a May 2024 interview with CNBC, Druckenmiller stated that “AI might be a little overhyped now, but underhyped long term.”
Image source: Amazon.
Duquesne’s billionaire chief more than 11X’d his stake in dual-industry leader Amazon
On the other hand, Duquesne’s billionaire boss opened four dozen new positions in the June-ended quarter and increased his fund’s existing stake in 17 others. None of these existing additions was more prominent than that of dual-industry leader Amazon.
Druckenmiller oversaw the purchase of 495,800 shares of Amazon, increasing his fund’s stake by 1,083% from the end of March.
While most investors are aware of Amazon’s online retail marketplace dominance, they might not realize that it’s also No. 1 in global cloud infrastructure services. Amazon Web Services (AWS) is pacing $169 billion in annual run rate revenue and has seen its sales accelerate since integrating generative AI and large language model solutions into its platform. The high margins generated by AWS account for a majority of Amazon’s operating income.
Incredible: Amazon’s AWS revenue over the last 12 months ($148 billion) was higher than the revenue of 474 companies in the S&P 500. $AMZNhttps://t.co/l5IYmkeySJ pic.twitter.com/lzXvwmY8jJ
— Charlie Bilello (@charliebilello) July 30, 2026
Amazon is also a consistent top holding among billionaire investors. The latest purchase by Druckenmiller made it a top-10 position at Duquesne Family Office.
With sales growth at AWS reaccelerating, Wall Street estimates that Amazon’s cash flow per share will more than double from a reported $12.89 in 2025 to north of $30 in 2028. If Amazon comes anywhere close to this estimate, its shares still represent a bargain.
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Sean Williams has positions in Amazon and Intel. The Motley Fool has positions in and recommends Amazon, Intel, and Micron Technology. The Motley Fool has a disclosure policy.