Duquesne Family Office purchased $128 million worth of shares in Argentina's state-owned oil producer YPF SA in the first quarter of 2026, while also increasing its holdings in Mexican discount grocer BBB Foods and the Global X MSCI Argentina ETF. Druckenmiller's investment in Argentina is interpreted as a bet that President Milei's liberal policies will impact the country's business model, or as a medium-term catalyst-driven investment; the investment in Mexico's BBB Foods is a bet that Mexican workers will continue to face economic pressure, and discount grocers will benefit from this.