Billionaire Stanley Druckenmiller Just Bought A Top Nuclear Stock Play. George Soros Just Sold Out of It.

Three billionaires, one unglamorous engineering stock, three different answers. In Q2 2026 13F filings disclosing positions as of June 30, 2026 and filed August 14, 2026, Stanley Druckenmiller, George Soros and David Einhorn each moved on Fluor (NYSE:FLR | FLR Price Prediction), and they moved in opposite directions. The most interesting institutional disagreements often happen in names nobody is tweeting about.

Fluor is a Texas-based engineering, procurement and construction firm serving energy, chemicals, mining, infrastructure and US government end markets. Market cap sits around $7 billion, with a backlog of $26.9 billion that is 85% reimbursable. Shares are up 32.15% year to date and 26.04% over one year, closing at $52.37 on August 14, 2026.

Here’s what’s interesting: while Fluor is underfollowed, Wall Street also sees it as a backdoor play nuclear play that could see strong growth in the years ahead as infrastructure building soars across the United States.

David Einhorn: The Wall Street Icon Who Stayed

Greenlight Capital is the anchor holder of this trio. Einhorn sold 88,600 shares, leaving 4,658,750 shares valued at $244,071,913. The filing shows a share delta of roughly negative 0.019. This was a trim. Fluor remains among Greenlight’s largest disclosed long US equity positions.

Stanley Druckenmiller: A Brand New Position

Duquesne Family Office opened Fluor from zero, reporting 982,200 shares valued at $51,457,000. The position was built from zero during the quarter. Druckenmiller’s filing discloses the position only. What we can say: the buy landed in a quarter when Fluor booked $6.10 billion in new awards, 89% reimbursable, and beat on adjusted EPS of $0.91 versus $0.70 consensus.

George Soros: A Small Exit

Soros Fund Management sold all 50,814 shares, taking the position to zero. Relative to Soros’s disclosed book this was a small holding, and 13F exits can reflect rebalancing, risk limits or redemptions rather than a bearish call. Reading the tape as a thesis change would overstate the signal.

Bull And Bear Case

The bull case rests on backlog conversion. CEO Jim Breuer told analysts, “The pull-through capture of our prospect pipeline is taking flight…we didn’t expect some of these awards until the back half of the year.” Growth vectors include a $30 billion in-house mining and metals pipeline, the Centris Fuel Enrichment award, and LNG Canada Phase 2 limited notice to proceed. Analyst consensus target sits at $60.69 on 4 buys and 5 holds, with a forward PE near 19.

There’s also some secular trends that could benefit Fluor. The company had a large holding in SMR company NuScale (NYSE: SMR), but completely exited that position in April 2026. The company remains NuScale’s preferred EPC partner and has other wins in the space such as a front-end project with X-energy for an SMR project, and an EPC contract for a uranium enrichment facility from Centrus (NYSE: LEU). It’s worth noting that Fluor’s largest division is Urban Solutions, so its ‘Energy and Mission Solutions’ is additive rather than the company’s main profit driver. Other energy segments include LNG, copper, data centers, and fertilizers.

Still, if nuclear does take off in a significant way, that should be a tailwind to Fluor as the company is often cited as a top ‘picks and shovels’ play for the trend.

The bear case is legacy fixed-price risk. Q2 absorbed $44 million of cost growth on the Gordie Howe International Bridge, Q1 took a $96 million LOGCAP charge, and 2026 adjusted EBITDA guidance was narrowed to $500 to $525 million after the Mexico JV sale. Trailing EPS is negative $11.69 on the NuScale write-down.

Two of three managers stayed constructive. That is the signal worth watching.

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