Druckenmiller first bought the stock in the third quarter of 2023, the same quarter he started to unload his Nvidia stake. Since the end of that quarter, the stock is up 309%, and it's now the best-performing stock on the S&P 500 this year, having recently passed Nvidia for the title after a recent surge. Year to date, Vistra is up 252%.

With the presidential election in less than three weeks, you may be wondering about the impact the result will have on stocks. To some extent, the election outcome doesn’t matter. The S&P 500 has risen in 39 of the past 50 years,

"Were the price to come down we get involved again, but right now I'm licking my wounds from a bad sale there."

Nvidia and Chipotle completed stock splits in the second quarter, but several hedge fund managers sold the former and bought the latter. Nvidia is the foundation of the artificial intelligence boom because its graphic processing units (GPUs) are the gold standard in accelerated computing.

As Nvidia nears becoming the world's most valuable company (again), not everyone is buying in. Others are looking elsewhere, at Nvidia's competitors.