Filings show Stanley Druckenmiller has completely exited his positions in Nvidia and Palantir. He sold his remaining Nvidia stake in the September quarter and cleared out Palantir over the last nine months. The move seems to be profit-taking and concern over AI valuations. The article notes Palantir's price-to-sales ratio is extremely high, and there are worries that AI spending isn't generating returns fast enough for customers yet. He is rotating that capital into Teva Pharmaceutical. He has been buying it for five quarters and it is now his third-largest holding. The bull case is based on settled opioid litigation, significant debt reduction, and a shift toward higher-margin brand-name drugs. The stock was trading at a very low multiple when he started building the position.