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 |
ServiceNow
NOW
|
+$83.5M |
| 2 |
GE Aerospace
GE
|
+$81.6M |
| 3 |
Shopify
SHOP
|
+$72.8M |
| 4 |
PLAN
Anaplan, Inc.
PLAN
|
+$71.8M |
| 5 |
AYX
Alteryx Inc
AYX
|
+$50.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$169M |
| 2 |
Adobe
ADBE
|
+$142M |
| 3 |
iShares MSCI Emerging Markets ETF
EEM
|
+$103M |
| 4 |
Alibaba
BABA
|
+$95.8M |
| 5 |
Uber
UBER
|
+$94.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 48.11% |
| 2 | Consumer Discretionary | 23.82% |
| 3 | Financials | 5.66% |
| 4 | Communication Services | 5.21% |
| 5 | Industrials | 5.16% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Incyte
INCY
$24.7B
| – | – |
-202,400
| Closed | -$17.2M |
|
52
JD.com
JD
$44.5B
| – | – |
-1,299,213
| Closed | -$39.4M |
|
|
53
PUT
JD.com
JD
$44.5B
| – | – |
-200,000
| Closed | -$6.06M |
|
54
Cheniere Energy
LNG
$53.8B
| – | – |
-68,530
| Closed | -$4.69M |
|
55
Marathon Petroleum
MPC
$90.7B
| – | – |
-410,100
| Closed | -$22.9M |
|
56
Merck
MRK
$322B
| – | – |
-489,626
| Closed | -$39.2M |
|
57
Micron Technology
MU
$1.04T
| – | – |
-230,613
| Closed | -$8.9M |
|
58
New Fortress Energy
NFE
$95.1M
| – | – |
-1,200,000
| Closed | -$14.1M |
|
59
NXP Semiconductors
NXPI
$58.7B
| – | – |
-15,725
| Closed | -$1.53M |
|
60
Palo Alto Networks
PANW
$304B
| – | – |
-244,200
| Closed | -$8.29M |
|
61
PG&E
PCG
$38.3B
| – | – |
-3,051,300
| Closed | -$69.9M |
|
62
PayPal
PYPL
$50.3B
| – | – |
-481,100
| Closed | -$55.1M |
|
63
Qorvo
QRVO
$8.38B
| – | – |
-11,675
| Closed | -$778K |
|
64
Snap
SNAP
$9.25B
| – | – |
-5,234,631
| Closed | -$74.9M |
|
65
Sony
SONY
$133B
| – | – |
-193,350
| Closed | -$2.03M |
|
66
Spotify
SPOT
$102B
| – | – |
-13,967
| Closed | -$2.04M |
|
67
T-Mobile US
TMUS
$185B
| – | – |
-765,600
| Closed | -$56.8M |
|
68
Veeva Systems
VEEV
$34.5B
| – | – |
-8,795
| Closed | -$1.43M |
|
69
Zillow
Z
$8.33B
| – | – |
-23,200
| Closed | -$1.08M |
|
70
Corpay
CPAY
$26.1B
| – | – |
-17,660
| Closed | -$4.96M |
|
|
XYZ
71
Block Inc
XYZ
$50.6B
| – | – |
-293,838
| Closed | -$21.3M |
|
|
ZEN
72
DELISTED
ZENDESK INC
ZEN
| – | – |
-34,102
| Closed | -$3.04M |
|
|
INFO
73
DELISTED
IHS Markit Ltd. Common Shares
INFO
| – | – |
-188,000
| Closed | -$12M |
|
|
I
74
DELISTED
INTELSAT S. A.
I
| – | – |
-1,364,570
| Closed | -$26.5M |
|
|
S
75
DELISTED
Sprint Corporation
S
| – | – |
-66,610
| Closed | -$438K |
|
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Stanley Druckenmiller's Q3 2019 Portfolio in Review
As of Q3 2019, Stanley Druckenmiller held 75 positions worth $2.57B, down 24% from $3.37B the previous quarter. Its ten largest holdings account for 65% of the portfolio.
Stanley Druckenmiller withdrew a net $668M in Q3 2019, closing 32 positions and reducing 13 holdings. Its most notable exit was iShares MSCI Emerging Markets ETF, an estimated $103M position sold in full.
By sector, the portfolio is most concentrated in Technology at 48% of assets, up from 45% a quarter earlier, followed by Consumer Discretionary and Financials.
Against the trend, Stanley Druckenmiller opened a new position in Shopify worth $66.2M.
- Stanley Druckenmiller's largest Q3 2019 buy was Shopify: 2,124,800 shares worth $66.2M.
- Stanley Druckenmiller added most to ServiceNow in Q3 2019, an estimated $83.5M increase.
- Stanley Druckenmiller's biggest Q3 2019 reduction was Microsoft, cutting an estimated $169M.
- Stanley Druckenmiller fully exited iShares MSCI Emerging Markets ETF in Q3 2019, selling an estimated $103M.
- Stanley Druckenmiller's ten largest holdings make up 65% of its $2.57B portfolio in Q3 2019.
- Stanley Druckenmiller opened 14 new positions and closed 32 in Q3 2019.
- Stanley Druckenmiller's portfolio value fell 24% quarter-over-quarter to $2.57B.
Based on Duquesne Family Office's 13F filing for Q3 2019, filed 14 Nov 2019.