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 |
Teva Pharmaceuticals
TEVA
|
+$48.9M |
| 2 |
Bristol-Myers Squibb
BMY
|
+$48.6M |
| 3 |
FedEx
FDX
|
+$47.3M |
| 4 |
Crown Castle
CCI
|
+$40M |
| 5 |
Alcoa
AA
|
+$36.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
|
+$14.9M |
| 2 |
iShares MSCI South Korea ETF
EWY
|
+$10.2M |
| 3 |
State Street Energy Select Sector SPDR ETF
XLE
|
+$9.69M |
| 4 |
iShares China Large-Cap ETF
FXI
|
+$9.67M |
| 5 |
Nokia
NOK
|
+$6.51M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 22.17% |
| 2 | Communication Services | 21.45% |
| 3 | Energy | 18.62% |
| 4 | Industrials | 11.33% |
| 5 | Technology | 5.69% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Alphabet (Google) Class C
GOOG
$4.59T
| $261M | 17.42% |
9,364,971
+401,499
| +4% | +$10.2M |
|
2
SLB Ltd
SLB
$75.4B
| $89.5M | 5.96% |
993,000
| – | – |
|
3
Delta Air Lines
DAL
$61B
| $85.4M | 5.69% |
3,110,000
| – | – |
|
4
Amazon
AMZN
$2.99T
| $62.9M | 4.19% |
3,154,000
| – | – |
|
5
Illumina
ILMN
$30.7B
| $56M | 3.73% |
520,888
| – | – |
|
|
6
FedEx
FDX
$74.1B
| $51.3M | 3.42% |
+356,900
| New | +$47.3M |
|
|
7
Bristol-Myers Squibb
BMY
$135B
| $50.7M | 3.38% |
+954,200
| New | +$48.6M |
|
|
8
Teva Pharmaceuticals
TEVA
$40.1B
| $49.7M | 3.31% |
+1,241,000
| New | +$48.9M |
|
9
Gilead Sciences
GILD
$168B
| $45.9M | 3.06% |
610,700
| – | – |
|
|
10
Alcoa
AA
$12.4B
| $42.5M | 2.83% |
+1,664,586
| New | +$36.9M |
|
11
Workday
WDAY
$42.3B
| $42M | 2.8% |
505,500
| – | – |
|
12
Halliburton
HAL
$27B
| $42M | 2.8% |
826,700
+193,000
| +30% | +$9.98M |
|
|
13
Crown Castle
CCI
$33.9B
| $39.7M | 2.64% |
+540,200
| New | +$40M |
|
|
PXD
14
DELISTED
Pioneer Natural Resource Co.
PXD
| $36.4M | 2.43% |
197,800
+54,800
| +38% | +$10.6M |
|
15
SBA Communications
SBAC
$19.9B
| $35.7M | 2.38% |
+397,400
| New | +$34.1M |
|
|
ENDP
16
DELISTED
Endo International plc
ENDP
| $35.6M | 2.37% |
527,000
| – | – |
|
|
PARA
17
DELISTED
Paramount Global Class B
PARA
| $30.7M | 2.05% |
481,700
| – | – |
|
|
DISH
18
DELISTED
DISH Network Corp.
DISH
| $29.8M | 1.99% |
+515,000
| New | +$26.4M |
|
19
Valero Energy
VLO
$88.9B
| $29.2M | 1.94% |
+578,900
| New | +$24.4M |
|
20
Marathon Petroleum
MPC
$91.3B
| $29M | 1.93% |
+631,800
| New | +$24.3M |
|
|
CBST
21
DELISTED
CUBIST PHARMACEUTICALS INC
CBST
| $28.4M | 1.9% |
413,000
| – | – |
|
22
Amgen
AMGN
$210B
| $26.4M | 1.76% |
231,000
| – | – |
|
23
Biogen
BIIB
$30.8B
| $25.6M | 1.7% |
91,500
| – | – |
|
24
EQT Corp
EQT
$33B
| $25.6M | 1.7% |
+523,361
| New | +$24.7M |
|
25
Johnson & Johnson
JNJ
$614B
| $21.5M | 1.43% |
235,000
+106,000
| +82% | +$9.77M |
|
Similar funds
Stanley Druckenmiller's Q4 2013 Portfolio in Review
As of Q4 2013, Stanley Druckenmiller held 49 positions worth $1.5B, up 77% from $846M the previous quarter. Its ten largest holdings account for 53% of the portfolio.
Stanley Druckenmiller deployed $483M of net new capital in Q4 2013, opening 21 new positions and adding to 5 existing holdings. Its largest new stake was Teva Pharmaceuticals: 1,241,000 shares worth $49.7M.
By sector, the portfolio is most concentrated in Healthcare at 22% of assets, up from 19% a quarter earlier, followed by Communication Services and Energy.
On the sell side, the most notable exit was iShares JPMorgan USD Emerging Markets Bond ETF, an estimated $14.9M sold.
- Stanley Druckenmiller's largest Q4 2013 buy was Teva Pharmaceuticals: 1,241,000 shares worth $49.7M.
- Stanley Druckenmiller added most to Pioneer Natural Resource Co. in Q4 2013, an estimated $10.6M increase.
- Stanley Druckenmiller fully exited iShares JPMorgan USD Emerging Markets Bond ETF in Q4 2013, selling an estimated $14.9M.
- Stanley Druckenmiller's ten largest holdings make up 53% of its $1.5B portfolio in Q4 2013.
- Stanley Druckenmiller opened 21 new positions and closed 7 in Q4 2013.
- Stanley Druckenmiller's portfolio value rose 77% quarter-over-quarter to $1.5B.
Based on Duquesne Family Office's 13F filing for Q4 2013, filed 14 Feb 2014.