Billionaire Stanley Druckenmiller’s Top 10 Stock Picks

5. Seagate Technology Holdings plc (NASDAQ:STX)

Duquesne Capital’s Stake Value: $179,670,000

Number of Hedge Fund Holders: 46

Seagate Technology Holdings plc (NASDAQ:STX) ranks fifth on our list of the top stock picks by Stanley Druckenmiller, as of Q3 2024 according to our Insider Monkey database. The technology company specializes in the provision of mass-capacity data storage services. In the past four decades, Seagate Technology Holdings plc (NASDAQ:STX) has delivered over four billion terabytes of capacity which positions it as a leader in the industry.

At the moment, the company is present in 30 countries with customers from across the globe, becoming a primary connecting force between people, businesses, and ideas. Seagate Technology Holdings plc (NASDAQ:STX) is working tirelessly to increase cloud customers for HAMR-based Mozaic productions, ramp up near-line drives, and build momentum to meet the growing customer demand, which explains why 46 hedge funds were bullish on the stock at the end of the third quarter of 2024.

In addition to a strong global presence, Seagate Technology Holdings plc (NASDAQ:STX) is also performing remarkably on the financial front. In the fiscal first quarter, the company generated $2.17 billion in revenue, up from $1.35 billion in the fiscal first quarter of 2024. In addition to that, the company pulled itself out of a net loss in FQ1 2024, generating $305 million in net income in FQ1 2025. Moreover, Seagate Technology Holdings plc (NASDAQ:STX) generated $95 million in cash flow from operations, $27 million in free cash flow, and returned nearly $147 million to shareholders through dividends.