Druckenmiller’s Prediction and His 5 Defensive Stock Picks

2. T-Mobile US, Inc. (NASDAQ:TMUS)

Number of Hedge Fund Holders: 96    

T-Mobile US, Inc. (NASDAQ:TMUS) provides mobile communications services. Latest data shows that Duquesne Capital owned 676,867 shares of T-Mobile US, Inc. (NASDAQ:TMUS) at the end of the second quarter of 2022 worth over $91 million, representing 6.58% of the portfolio. T-Mobile US, Inc. (NASDAQ:TMUS) is one of the premier defensive stock picks of Stanley Druckenmiller. 

On September 9, Raymond James analyst Ric Prentiss maintained a Strong Buy rating on T-Mobile US, Inc. (NASDAQ:TMUS) stock and raised the price target to $178 from $175, noting that the board had authorized a $14 billion stock repurchase, which is positive for value creation. 

Among the hedge funds being tracked by Insider Monkey, Connecticut-based investment firm Viking Global is a leading shareholder in T-Mobile US, Inc. (NASDAQ:TMUS), with 9.2 million shares worth more than $1.2 billion.

In its Q4 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and T-Mobile US, Inc. (NASDAQ:TMUS) was one of them. Here is what the fund said:

“As mentioned, the communication services sector has come under some pressure, and irrational pricing competition has negatively impacted wireless industry growth and profitability of late, weighing on T-Mobile US, Inc. (NASDAQ:TMUS). Faced with these headwinds, and with pressure from other wireless carriers and cable companies that could cause the company to cede share in subscriber growth in 2022, we exited our position in the fourth quarter.”