The chief of Duquesne Family Office recently divested his entire investment in a prominent stock-split stock and has maintained his investment in a low-cost pharmaceutical company for the third consecutive quarter.
Investors on Wall Street often find the volume of information overwhelming. In recent weeks, they have navigated through earning reports, a Federal Reserve meeting, and ongoing changes to President Donald Trump’s tariff and trade policies, which make it easy for key developments to be overlooked.
One of the most crucial data releases this quarter took place on May 15, the deadline for institutional investors managing over $100 million to submit Form 13F to the SEC. This filing reveals which stocks top Wall Street investors bought and sold in the last quarter. While not without flaws—given that they are filed 45 days post-quarter end—they provide valuable insights into trends and stocks capturing the market’s attention.
Warren Buffett is perhaps the most closely watched money manager, but billionaire Stanley Druckenmiller of Duquesne Family Office is also well-respected for his investment acumen. During the quarter ending in March, Druckenmiller actively sold off stocks while being strategic about new acquisitions, demonstrating his selective investment approach.
Druckenmiller Exits a Major Stock-Split Investment
The stock-split phenomenon has captivated investors, paralleling the advancements in artificial intelligence (AI). A stock split alters a company’s share price without affecting its market capitalization. Investors often flock to firms that undergo stock splits, indicating that the company’s performance is strong enough to warrant such actions.
In the first quarter, Druckenmiller sold off his entire 87,424-share position in Palo Alto Networks (PANW 0.30%), a leading name in cybersecurity that underwent a 2-for-1 stock split in December. This selling may reflect simple profit-taking, as Duquesne’s average holding period tends to be under nine months, revealing Druckenmiller’s willingness to take profits.
Teva Pharmaceutical: A Steady Investment
In contrast, Duquesne continues to invest heavily in Teva Pharmaceutical Industries (TEVA 4.60%), acquiring 5,882,350 shares in the March quarter. Teva’s recent history has been tumultuous, marked by the loss of exclusivity for its major drug Copaxone and significant litigation, which saw the company’s shares plummet by up to 90%.
However, Teva appears to be turning a corner, focusing on novel drug development that offers improved margins and growth. Recent sales figures indicate that its drug Austedo is on track for $2 billion in annual revenue, reflecting this renewed strategy. Additionally, executives have worked to mitigate the company’s debt, significantly reducing it from over $35 billion to under $15 billion as of March 2025.
The resolution of Teva’s opioid litigation claims has also been a pivotal moment, as a significant settlement received approval from numerous U.S. states. With no legal hurdles to limit its valuation, Teva’s stock is currently trading at just 6.6 times its projected earnings per share for 2025, suggesting that there is room for growth. Although dividends may not be reinstated soon, the company has seen consistent sales growth over nine quarters, signaling renewed investor interest.
