Stanley Druckenmiller likes to make big bets.
The 72-year-old billionaire once said that if you see something really exciting, “bet your entire ranch on it.”
With the tech-heavy Nasdaq Composite down about 2% so far this year, perhaps its recent moves can offer investors some clues.
Druckenmiller was formerly George Soros’s right-hand man. He helped make the famous bet against sterling in 1992, a deal that “broke the Bank of England”.
He is the former president of Duquesne Capital Management, which he founded in 1981 and led until its closure in 2010. Over its nearly three decades, the company earned an average annual return of 30%.
After Druckenmiller closed Duquesne Capital to outside investors, he actively managed his wealth and investments under a family office structure, now called Duquesne Family Office.
Duquesne Family Office returned 37% over the past year and gained 123.25% over the past five years, according to Stockcircle data.
Some mega-cap tech names were among Druckenmiller’s most notable purchases in Q4 2025, according to Whalewisdom data based on 13F filings.
Amazon (AMZN) remained one of the fund’s largest holdings, with Druckenmiller adding 300,870 shares worth about $63 million, increasing the stake by 68.8%. Amazon is the fund’s seventh-largest holding.
Notably, Amazon was also one of George Soros’ fund’s biggest purchases in the fourth quarter, with Soros Fund Management adding 133,385 shares.
Related: Billionaire George Soros Buys $137 Million in AI Chips and Cuts Alphabet
Druckenmiller also significantly increased his position in Alphabet (GOOGL) by 276.7% from the previous quarter, adding 282,800 shares worth approximately $89 million.
Druckenmiller’s moves come as both companies continue to increase spending on AI and cloud infrastructure. Shares of Google parent rose about 30% during the fourth quarter, while Amazon gained 5%.
By contrast, Druckenmiller exited Meta entirely and sold all 76,100 shares after the stock fell 10% in the previous quarter.
Within semiconductors, Druckenmiller reduced its stake in Taiwan Semiconductor (TSM) by 29%, bringing it to its eighth-largest holding, down from the fourth-largest position in Q3 2025.
TSMC is the world’s largest chip foundry and a key manufacturer for Nvidia (NVDA) and other AI chip makers.
On January 15, the company reported strong fourth-quarter results, as earnings per ADR increased 35% year over year to $3.14. Revenue for the quarter reached $33.73 billion, up 25.5% from a year ago. Gross margin, a key measure of profitability, was 62.3%, up from 59.5% a year ago.