In This Article:
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Quarterly-filed Form 13Fs offer a way for investors to track the buying and selling activity of Wall Street's prominent money managers.
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Both of Wall Street's leading artificial intelligence (AI) stocks -- Nvidia and Palantir -- were given the heave-ho by Duquesne Family Office's billionaire chief.
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Duquesne's first-quarter 13F decisively shows that Stanley Druckenmiller has found a new favorite AI stock.
You might not realize it, but one of Wall Street's most important data releases of the quarter occurred less than a week ago.
No later than 45 calendar days following the end to a quarter, institutional investors who are managing at least $100 million are required to file Form 13F with the Securities and Exchange Commission. A 13F offers investors an under-the-hood look at which stocks Wall Street's top money managers bought and sold in the latest quarter. May 15 was the 13F filing deadline for first-quarter trading activity.
While Warren Buffett tends to be the most-tracked asset manager, he's far from the only billionaire investor who's delivered outsized returns. For instance, investors tend to also keep close tabs on billionaire Stanley Druckenmiller, who manages more than $3 billion in assets at Duquesne Family Office.
Though Druckenmiller's investing strategy often involves long and short positions across various asset classes, it's his approach to investing in the artificial intelligence (AI) revolution that's raising eyebrows.
In less than two years, Druckenmiller has overseen the disposition of Wall Street's two hottest AI stocks and has chosen to load up his fund in another industry giant.
While dozens of companies have benefited from the evolution of AI, no two artificial intelligence stocks have been the face of the movement more than graphics processing unit (GPU) titan Nvidia (NASDAQ: NVDA) and data-mining specialist Palantir Technologies (NASDAQ: PLTR). Since 2023 began, shares of Nvidia and Palantir have rocketed higher by 827% and 1,920%, respectively.
The lure of Nvidia has been its near-monopoly like share of the GPUs currently deployed in AI-accelerated data centers. The company's Hopper (H100) and next-generation Blackwell chips offer a clear compute advantage over rivals. In turn, this has led to superior pricing power for Nvidia.
Meanwhile, Palantir's AI-driven software-as-a-service Gotham and Foundry platforms have shined. In particular, its government-focused Gotham platform has landed numerous multiyear contracts with the U.S. government and its immediate allies. Gotham has helped Palantir sustain a 25%+ sales growth rate and pushed the company to recurring profitability.