Druckenmiller and Altimeter Capital both exited Broadcom in Q2, 13F filings show

Stanley Druckenmiller’s family office and Brad Gerstner’s Altimeter Capital both sold their positions in Broadcom Inc. during the second quarter, according to the latest publicly available 13F filings summarized in a market report dated Aug. 17, 2026. The disclosures come as investors continue to scrutinize how different portfolios are positioning around semiconductors and the broader AI buildout.

Broadcom, a major supplier of networking and custom silicon that also sells enterprise software, trades on the Nasdaq under the ticker AVGO. In the report, both money managers are described as having dumped AVGO over the quarter rather than adding to their stakes, a announcement that at least some high-conviction investors were less willing to hold the name through mid-year.

The reported sales were tied to Druckenmiller’s family office vehicle and to Altimeter Capital Management. Both firms are well-known among institutional investors for concentrated strategies, and their quarterly 13F updates can influence how the market reads positioning trends, even though a 13F does not explain the timing of individual trades or the full context behind each decision.

The same report also says that each manager opened or added a stake in a different company described as an AI stock. However, the details on that new holding, including the exact company name and position size, were not included in the information available for this write-up, limiting what can be confirmed beyond the broad direction of the trade.

For Broadcom specifically, the episode illustrates the tension investors face when assessing large, diversified semiconductor and infrastructure businesses. AVGO sits at the intersection of traditional enterprise networking demand and the rapidly evolving AI infrastructure cycle. That can make it attractive during periods when customers are building out data center capacity, but also leaves room for managers to rotate if they believe demand will shift, margins will compress, or the competitive landscape changes.

More broadly, 13F filings often reflect portfolio decisions made for a variety of reasons, including risk management, concentration limits, or shifts in relative conviction among similar themes. A sale in a given quarter does not necessarily indicate a company-wide negative view, and it does not provide information about whether the managers may re-enter later.

What is still unclear from the market report alone is whether the Broadcom exits were complete liquidations or reductions, the precise dates of the transactions, and whether the managers replaced AVGO with the same category of exposure or with something narrower. Without the underlying filing line items and the complete text from the report, it is not possible to quantify the size of the changes.

Going forward, investors may watch for whether either firm discloses additional changes in subsequent quarters and whether Broadcom’s own updates, including guidance and segment performance, align with the market’s shifting expectations for semiconductor and AI infrastructure spending. Additional regulatory filings and the next round of portfolio disclosures will offer clearer confirmation of whether this was a temporary rotation or a sustained change in positioning.