Druckenmiller boosts Brazil and Argentina ETFs, betting on commodities and political reforms.

Stanley Druckenmiller’s Duquesne Family Office quietly increased holdings in South American equities in Q1 2026, with Brazil's EWZ ETF and Argentina's ARGT ETF among top positions. The Brazil bet focuses on commodities, rising foreign capital, and undervalued currency, while the Argentina position hinges on political reforms under Javier Milei, backed by U.S. support. EWZ offers a diversified, lower-risk emerging market exposure suitable for balanced portfolios, whereas ARGT is highly concentrated and volatile, requiring high risk tolerance. Investors should consider these differences before following Druckenmiller’s moves.