Stanley Druckenmiller sold and Cathie Wood bought these 3 stocks

You could say that Stanley Druckenmiller and Cathie Wood's recent 13F filings are living proof that there are always at least two views to every market. 

Druckenmiller, a style-agnostic investor, sold a slew of top-performing tech stocks. In many of those cases, he sold nearly, or all, of his existing holdings in those names. The rationale makes a lot of sense given the Magnificent Seven mega-cap tech stocks have surged nearly 40% year-to-date. 

In contrast, Wood, who is a growth-oriented investor, initiated new positions in some of these growth and AI-oriented names. But perhaps the most interesting, high-level insight from both their 13F filings is this: Wood is buying some of the names that Druckenmiller has been selling.

So, who will be proven right? 

I can't tell you that but I can shed some light on the stocks that both veteran investors have been buying and selling. 

Stanley's new buying positions and new selling positions

At first glance, there isn't one overarching theme to Druckenmiller's recent purchases and certainly no one dominating sector – unlike how Warren Buffett spent his cash holdings in the last quarter (see this excellent piece from my colleague Kerry Sun). There are also no options, unlike how Michael Burry spent his money last quarter (see this equally excellent piece from David Thornton).

There's also no clear style to Druckenmiller's moves. On the one hand, he is buying stalwarts of the wider industrials space, such as General Electric (NYSE: GE) and electrical distribution company WESCO (NYSE: WCC). 

Like Buffett, he's also jumped in on the homebuilding and renovation trade with new positions in Builders Firstsource (NYSE: BLDR) and bedding manufacturer Tempur Sealy (NYSE: TPX). 

But Druckenmiller is also taking a liking to technology and software names such as Oracle (NASDAQ: ORCL) and Micron Technology (NASDAQ: MU). And he also clearly does not mind riding a wave, given he's bought a stake in DoorDash (NASDAQ: DASH), despite the stock being up 63% already this year. 

He also takes the same style-agnostic approach to his sold positions. For instance, he sold his entire stake in Alphabet (NASDAQ: GOOGL), Alibaba (NASDAQ: BABA), Palantir (NASDAQ: PLTR) and Advanced Micro Devices (NASDAQ: AMD). He also sold almost his entire stake in Meta Platforms (NASDAQ: META) and Amazon (NASDAQ: AMZN). 

But to prove he didn't lighten only his technology calls, he also took profits on energy play Freeport McMoran (NASDAQ: FCX) and resources giant Barrick Gold (NYSE: GOLD). He also sold his entire stake in biotech firms Moderna (NASDAQ: MRNA) and Biontech (NASDAQ: BNTX).

Cathie's new buying and new selling positions

The first thing you immediately notice about Wood's purchases is that the two largest new positions are in stocks that Druckenmiller has sold out of - namely Palantir and Meta. While it's not shown on Druckenmiller's list, he also trimmed his position in Taiwan Semiconductor Manufacturing (NASDAQ: TSM) while Wood actually initiated a position. 

And while it's not included in this filing, Wood has been doubling down on her long-term bets in biotechnology stocks. Recent purchases include Ginkgo Bioworks Holdings (NYSE: DNA), Intellia Therapeutics (NASDAQ: NTLA), Beam Therapeutics (NASDAQ: BEAM), and Adaptive Biotechnologies (NASDAQ: ADPT).

Something else worth noting in this filing is the shift out of certain Bitcoin and cryptocurrency-related investments. While she bought a new ETF (3iQ Bitcoin), she sold out of the CoinShares equivalent as well as the Toronto-listed The Bitcoin Fund (TSE: QBTC).

Finally, if there is one thing Cathie Wood is known for the world over, it's her high-conviction call on Tesla (NASDAQ: TSLA). It's been revealed since the 13F filing was made that Wood has sold a significant stake in the company (100,000 shares across two of its funds). Nonetheless, Tesla remains a major holding.