Billionaire Stan Druckenmiller Is Betting On AI Infrastructure, Tobacco and Industrial Stocks

2. Coupang, Inc. (NYSE:CPNG)

Number of Hedge Fund Holders: 62 

Duquesne Capital’s Stake: $229,845,000

Coupang, Inc. (NYSE:CPNG) is a South Korea-based ecommerce firm. It has featured in the Duquesne Capital 13F portfolio since the first quarter of 2021. The stake back then consisted of just over 10 million shares with an average price of $46.22. Druckenmiller gradually increased this holding to nearly 23 million at the end of last year. However, since then, the billionaire has been offloading the stock. In the second quarter of 2024, Duquesne Capital reduced the size of this holding by more than half. Even after this sizable reduction, the stake is still the second-largest holding in the portfolio, comprising nearly 8% of the total 13F portfolio.

Expert investment advisors on Wall Street seem to agree with Druckenmiller regarding Coupang, Inc. (NYSE:CPNG) stock. JPMorgan has an Overweight rating on the shares with a $28 price target. In a recent investor note, the advisory mentioned the 140 billion won fine leveled on the firm by authorities in South Korea earlier this year. The fine was imposed for alleged manipulation of search listing algorithms in favor of the own products of the firm. In the note, the advisory noted that the regulatory repercussions for the business may weigh on investor sentiment in the near term.