Stanley Druckenmiller Duquesne Family Office
Stanley Druckenmiller is the founder of Duquesne Family Office and one of the most closely watched macro investors of his generation. He first became widely known as lead portfolio manager of the Quantum Fund alongside George Soros, including during the famous 1992 bet against the British pound. After returning outside capital, he has continued to invest with a flexible, top-down approach that blends macroeconomic views with concentrated equity and commodity positions.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
LyondellBasell Industries
LYB
|
+$60.3M |
| 2 |
EOG Resources
EOG
|
+$50.7M |
| 3 |
Teva Pharmaceuticals
TEVA
|
+$46M |
| 4 |
PXD
Pioneer Natural Resource Co.
PXD
|
+$34.5M |
| 5 |
NBL
Noble Energy, Inc.
NBL
|
+$29M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Biogen
BIIB
|
+$72.7M |
| 2 |
Target
TGT
|
+$57.7M |
| 3 |
Home Depot
HD
|
+$55.5M |
| 4 |
Lowe's Companies
LOW
|
+$46M |
| 5 |
Costco
COST
|
+$40.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 33.82% |
| 2 | Energy | 20.05% |
| 3 | Technology | 15.89% |
| 4 | Financials | 8.31% |
| 5 | Materials | 8% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Telecom Argentina
TEO
$5.89B
| $5.63M | 0.72% |
+248,000
| New | +$5.35M |
|
27
Pampa Energía
PAM
$4.56B
| $3.8M | 0.48% |
+214,899
| New | +$2.83M |
|
|
IRS
28
IRSA Inversiones y Representaciones
IRS
$1.27B
| $794K | 0.1% |
+41,841
| New | +$686K |
|
29
Alcoa
AA
$12.4B
| – | – |
-780,524
| Closed | -$29.6M |
|
30
American Airlines Group
AAL
$11B
| – | – |
-414,600
| Closed | -$22.2M |
|
31
American Eagle Outfitters
AEO
$3.03B
| – | – |
-1,429,200
| Closed | -$19.8M |
|
32
Bath & Body Works
BBWI
$4.24B
| – | – |
-335,969
| Closed | -$23.5M |
|
33
Crown Castle
CCI
$33.9B
| – | – |
-119,000
| Closed | -$9.37M |
|
|
34
Costco
COST
$420B
| – | – |
-285,000
| Closed | -$40.4M |
|
35
Delta Air Lines
DAL
$61B
| – | – |
-419,900
| Closed | -$20.7M |
|
|
FL
36
DELISTED
Foot Locker
FL
| – | – |
-210,400
| Closed | -$11.8M |
|
37
Goldman Sachs
GS
$311B
| – | – |
-132,500
| Closed | -$25.7M |
|
|
38
Home Depot
HD
$347B
| – | – |
-529,100
| Closed | -$55.5M |
|
|
JWN
39
DELISTED
Nordstrom
JWN
| – | – |
-429,400
| Closed | -$34.1M |
|
40
Kohl's
KSS
$2.28B
| – | – |
-229,900
| Closed | -$14M |
|
|
41
Lowe's Companies
LOW
$122B
| – | – |
-669,200
| Closed | -$46M |
|
42
Southwest Airlines
LUV
$23.8B
| – | – |
-270,000
| Closed | -$11.4M |
|
43
Macy's
M
$6.89B
| – | – |
-250,200
| Closed | -$16.5M |
|
44
Morgan Stanley
MS
$341B
| – | – |
-663,700
| Closed | -$25.8M |
|
|
45
Target
TGT
$67.3B
| – | – |
-760,600
| Closed | -$57.7M |
|
46
Wells Fargo
WFC
$267B
| – | – |
-453,000
| Closed | -$24.8M |
|
47
Williams-Sonoma
WSM
$29.3B
| – | – |
-695,200
| Closed | -$26.3M |
|
|
JUNO
48
DELISTED
Juno Therapeutics, Inc.
JUNO
| – | – |
-70,000
| Closed | -$3.65M |
|
|
VA
49
DELISTED
Virgin America Inc.
VA
| – | – |
-8,100
| Closed | -$350K |
|
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Stanley Druckenmiller's Q1 2015 Portfolio in Review
As of Q1 2015, Stanley Druckenmiller held 49 positions worth $787M, down 23% from $1.02B the previous quarter. Its ten largest holdings account for 65% of the portfolio.
Stanley Druckenmiller withdrew a net $292M in Q1 2015, closing 21 positions and reducing 6 holdings. Its most notable exit was Target, an estimated $57.7M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 34% of assets, up from 30% a quarter earlier, followed by Energy and Technology.
Against the trend, Stanley Druckenmiller opened a new position in LyondellBasell Industries worth $62.9M.
- Stanley Druckenmiller's largest Q1 2015 buy was LyondellBasell Industries: 716,950 shares worth $62.9M.
- Stanley Druckenmiller added most to Cognizant in Q1 2015, an estimated $21.1M increase.
- Stanley Druckenmiller's biggest Q1 2015 reduction was Biogen, cutting an estimated $72.7M.
- Stanley Druckenmiller fully exited Target in Q1 2015, selling an estimated $57.7M.
- Stanley Druckenmiller's ten largest holdings make up 65% of its $787M portfolio in Q1 2015.
- Stanley Druckenmiller opened 14 new positions and closed 21 in Q1 2015.
- Stanley Druckenmiller's portfolio value fell 23% quarter-over-quarter to $787M.
Based on Duquesne Family Office's 13F filing for Q1 2015, filed 15 May 2015.