Shares of Tesla and American Airlines are among the new high-profile purges by billionaire investor Stanley Druckenmiller.
New U.S. Securities and Exchange Commission filings for the second quarter show Druckenmiller’s Duquesne Family Office has dumped its entire stake in electric carmaker Tesla (TSLA) and American Airlines Group (AAL), the second-largest US airline by domestic market share.
In the second quarter, the two largest additions to the billionaire’s family office’s portfolio were semiconductor industry supplier Entegris (ENTG) and software giant Microsoft (MSFT).
Duquesne purchased shares in Entegris worth $132.74 million and stock in Microsoft valued at $99.95 million during that period.
Druckenmiller’s family office also added three of the largest banks in the US by total assets – Bank of America (BAC), Citigroup (C) and Goldman Sachs (GS) – to its portfolio in Q2. Duquesne now holds Citigroup shares worth $56.72 million, Goldman Sachs stock worth $29.73 and Bank of America shares valued at $16.72 million.
Over the same period, Druckenmiller’s family office also closed call options in Delta Air Lines (DAL) and United Airlines Holdings (UAL), the first and fourth-largest US airlines by domestic market share, respectively.
Duquesne’s liquidated Tesla stake was worth $4.88 million, while that of American Airlines was valued at $1.41 million. The call options in Delta Air Lines were worth $41.40 million, while those in United Airlines were worth $15.61 million.
As it dumped call options in Delta and United, Druckenmiller’s investment vehicle increased the stakes in the two by 130% and 2% quarter-on-quarter, respectively. Duquesne’s stake in Delta is now valued at $39.03 million, while the United stake is now worth $30.03 million.
Generated Image: Midjourney