5 Stocks Billionaire Stan Druckenmiller Just Bought and Sold

In this piece, we will take a look at the top five stocks that billionaire Stanley Druckenmiller bought and sold during the third quarter of 2023. To learn about the billionaire hedge fund boss’s thoughts about the future, check out 12 Stocks Billionaire Stan Druckenmiller Just Bought and Sold.

5. Lamb Weston Holdings, Inc. (NYSE:LW)

Duquesne’s Q3 2023 Investment: $168 million

Bought Or Sold: Sold

Percentage Increase or (-)Decrease: -12%

Lamb Weston Holdings, Inc. (NYSE:LW) is a food company that sells potato products. Seems like Stanley Druckenmiller is bearish on the world’s most popular food as he decreased his stake in Lamb Weston Holdings, Inc. (NYSE:LW) by 12% in Q3 2023.

During the previous quarter, 47 out of the 910 hedge funds polled by Insider Monkey had invested in Lamb Weston Holdings, Inc. (NYSE:LW). In Q3, the largest hedge fund investor was Ken Griffin’s Citadel Investment Group due to its $350 million investment.

4. Teck Resources Limited (NYSE:TECK)

Duquesne’s Q3 2023 Investment: $176 million

Bought Or Sold: Bought

Percentage Increase or (-)Decrease: 21%

Teck Resources Limited (NYSE:TECK) is a mining company that digs for silver, zinc, and other materials. The firm has been struggling on the financial front as of late since it has missed analyst EPS estimates in all four of its latest quarters.

As of June 2023, 79 out of the 910 hedge funds profiled by Insider Monkey had held a stake in the company. Eric W. Mandelblatt’s Soroban Capital Partners was Teck Resources Limited (NYSE:TECK)’s biggest shareholder during 2023’s September quarter as it owned $433 million worth of shares.

3. Eli Lilly and Company (NYSE:LLY)

Duquesne’s Q3 2023 Investment: $243 million

Bought Or Sold: Sold

Percentage Increase or (-)Decrease: -16%

Eli Lilly and Company (NYSE:LLY) is an American pharmaceutical giant. Its weight loss drug is one of the hottest products in the world right now, and Eli Lilly and Company (NYSE:LLY) is planning to build a new manufacturing facility in Germany to cater to the high demand.

By the end of this year’s second quarter, 87 out of the 910 hedge funds part of Insider Monkey’s database had bought Eli Lilly and Company (NYSE:LLY)’s shares. Ken Fisher’s Fisher Asset Management owned the largest stake among these, which was worth $2.3 billion.

2. Microsoft Corporation (NASDAQ:MSFT)

Duquesne’s Q3 2023 Investment: $321 million

Bought Or Sold: Bought

Percentage Increase or (-)Decrease: 23%

Microsoft Corporation (NASDAQ:MSFT) is a global technology giant. Its investment in the AI firm OpenAI was dealt a shock in mid November as OpenAI’s board decided to suddenly fire its chief executive Sam Altman. Media reports indicate that Microsoft was unaware of the decision, and its CEO Satya Nadella was quick to highlight Microsoft Corporation (NASDAQ:MSFT)’s AI developments right when Mr. Altman was being let go.

During June 2023, Microsoft Corporation (NASDAQ:MSFT) was the most popular stock among hedge funds in Insider Monkey’s database as 300 out of 910 had invested in the company. In September, the biggest shareholder was Michael Larson’s Bill & Melinda Gates Foundation Trust as it owned 39 million shares that are worth $12 billion.

1. NVIDIA Corporation (NASDAQ:NVDA)

Duquesne’s Q3 2023 Investment: $380 million

Bought Or Sold: Sold

Percentage Increase or (-)Decrease: -8%

NVIDIA Corporation (NASDAQ:NVDA) is a semiconductor company. It is due to report its latest earnings report soon for the quarter ending in October. The results will be crucial for the budding enterprise AI sector as they will provide details about whether the steam in AI is increasing or toning down.

As of Q2 2023 end, 175 out of the 910 hedge funds polled by Insider Monkey were NVIDIA Corporation (NASDAQ:NVDA)’s investors. Rajiv Jain’s GQG Partners owned the largest stake in Q3 which was worth $6 billion.

Disclosure: None. You can also take a look at 25 Highest Quality Furniture Brands in the World and Jim Cramer Recommends Selling These 10 Stocks.

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