Investment titan Stanley Druckenmiller’s family office, Duquesne Family Office, has made some significant changes to its portfolio, according to a recent filing with the Securities and Exchange Commission. The filing revealed that the firm has offloaded shares of tech giants Alphabet Inc. and Amazon.com Inc., as well as semiconductor company Broadcom Inc. Meanwhile, it has acquired shares of gold miners Barrick Gold Corp. and Newmont Corp., as well as tech companies Adobe Inc. and Arista Networks.

Druckenmiller’s interest in artificial intelligence (AI) is evident in the portfolio, with the filing showing new investments in AI-related companies such as Palo Alto Networks. However, the standout position in the portfolio remains Nvidia Corp., with the firm holding shares worth nearly $550 million as of December 31, 2023.

Nvidia has been a key focus for Druckenmiller, who previously highlighted its potential in the AI space. Despite expressing concerns about the stock’s valuation in the past, Nvidia’s value has continued to surge, climbing almost 50% since the beginning of 2024 and making up approximately 16% of Druckenmiller’s total equity holdings.

Druckenmiller’s decisions to sell shares of Alphabet and Eli Lilly are particularly noteworthy. The quick exit from Alphabet, which was only purchased in the third quarter of 2023, indicates a change in strategy. Additionally, the sale of Eli Lilly shares, a company that has seen significant growth in recent months, suggests a shift in focus within the portfolio.

Stanley Druckenmiller, known for his work with George Soros and his astute market insights, closed his firm to outside investors over a decade ago. However, his investment decisions continue to attract attention from both financial professionals and enthusiasts.