Stanley Druckenmiller 's Duquesne Family Office added a new bet on Alphabet last quarter, while trimming his favorite artificial intelligence play — Nvidia , according to its latest filing to the Securities and Exchange Commission.
The family office built a $110 million stake in Alphabet, making it Druckenmiller's seventh biggest holding at the end of the third quarter.
The bet could complement his other big AI bets as Druckenmiller emerged as a bull on AI.
Druckenmiller once managed George Soros' Quantum Fund and shot to fame after helping make a $10 billion bet against the British pound in 1992.
Druckenmiller believes the market will be "very challenged" in the current environment, and only disciplined stock pickers will be rewarded.
Persons:
Stanley Druckenmiller, Druckenmiller, it's, George Soros
Organizations:
Duquesne, Nvidia, Securities and Exchange Commission, Microsoft, Quantum Fund, Duquesne Capital Management, Social, Vistra Energy, Seagate Technology, Broadcom