Billionaire Druckenmiller Bets on Equal-Weight S&P 500 ETF

Duquesne Family Office chief adds to Amazon and Alphabet stakes but exits Meta, Tesla, and Nvidia

Mar. 19, 2026 at 8:06am

Got story updates? Submit your updates here. ›

Billionaire investor Stanley Druckenmiller's Duquesne Family Office has filed its latest 13F, revealing a new position in the Invesco S&P 500 Equal Weight ETF (RSP) as the fund's fourth-largest holding. This move suggests Druckenmiller believes the so-called "Magnificent Seven" tech giants may be due for underperformance compared to the broader S&P 500 index.

Why it matters

Druckenmiller's actions suggest he expects a potential rotation away from the market's largest tech stocks and towards a more diversified approach. The equal-weight ETF provides exposure to the entire S&P 500 with each component receiving the same weighting, potentially offering better performance if the market leadership shifts.

The details

In addition to the new Invesco S&P 500 Equal Weight ETF position, Druckenmiller increased his stakes in Amazon and Alphabet's Class A shares. However, he exited positions in Meta Platforms, Tesla, and Nvidia, suggesting he sees these high-flying tech names as overvalued. The equal-weight ETF has a lower expense ratio and higher dividend yield than the traditional S&P 500 index.

  • Druckenmiller filed the Q4 2025 13F on February 17, 2026.
  • He previously exited positions in Tesla in Q1 2025 and Nvidia in Q2 2024.

The players

Stanley Druckenmiller

Billionaire investor and founder of Duquesne Family Office.

Invesco S&P 500 Equal Weight ETF

An exchange-traded fund that assigns equal weight to all S&P 500 components, providing diversified exposure to the broader market.

Amazon

One of the "Magnificent Seven" tech giants in which Druckenmiller increased his stake.

Alphabet

Another "Magnificent Seven" tech company in which Druckenmiller added to his position.

Meta Platforms

Tech company that Druckenmiller exited during Q4 2025.

Got photos? Submit your photos here. ›

What’s next

Investors will be watching to see if Druckenmiller's bet on the equal-weight S&P 500 ETF pays off in 2026 as the market leadership potentially shifts away from the largest tech names.

The takeaway

Druckenmiller's move to the Invesco S&P 500 Equal Weight ETF suggests he believes the market's biggest tech stocks may be due for a pullback, and that a more diversified approach could outperform in the coming year.