Stanley Druckenmiller rebuilds Big Tech bets, dips into stablecoins with Figure Technology
Billionaire investor Stanley Druckenmiller made a notable return to megacap technology last quarter, rebuilding sizable stakes in Amazon and Meta , while placing a fresh bet on newly public stablecoin issuer Figure Technology , according to a new regulatory filing. Druckenmiller’s Duquesne Family Office initiated a $96 million position in Amazon and a $56 million holding in Meta during the third quarter. Both stocks have been familiar trades for the famed macro investor, who has moved in and out of them over the past several years as he navigated shifting market cycles. Duquesne also opened a $77 million position in Figure Technology, which recently went public in September. Figure is attempting to bring blockchain-based payments to mainstream finance through its USDF stablecoin consortium. Druckenmiller rose to prominence as George Soros’ top lieutenant at the Quantum Fund, famously helping engineer the fund’s $10 billion wager against the British pound in 1992. Afterward, he ran Duquesne Capital Management, overseeing $12 billion before returning outside capital and converting the firm into a family office in 2010. Also in the third quarter, Druckenmiller added a sizable position in iShares MSCI Emerging Markets ETF (EEM) , worth just above $100 million and making it his fund’s 10th biggest holding. Emerging markets equities have outperformed the U.S. this year so far, with the ETF rising more than 30%. The high-profile investor earned widespread praise for getting behind Nvidia early, first buying the chipmaker in 2022 as he grew convinced AI would be as transformative as the advent of the internet. Despite his conviction, Druckenmiller exited the stock in 2024, saying he took profits earlier than he should have.
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