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 |
iShares Russell 2000 ETF
IWM
|
+$127M |
| 2 |
Halliburton
HAL
|
+$51.9M |
| 3 |
State Street Financial Select Sector SPDR ETF
XLF
|
+$51.4M |
| 4 |
Citigroup
C
|
+$50M |
| 5 |
State Street Industrial Select Sector SPDR ETF
XLI
|
+$49.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$170M |
| 2 |
Alibaba
BABA
|
+$49.8M |
| 3 |
Abbott
ABT
|
+$45.2M |
| 4 |
Broadcom
AVGO
|
+$34.8M |
| 5 |
ATVI
Activision Blizzard
ATVI
|
+$33.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 24.11% |
| 2 | Energy | 18.7% |
| 3 | Materials | 16.24% |
| 4 | Healthcare | 13.38% |
| 5 | Industrials | 1.94% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
iShares Russell 2000 ETF
IWM
$82.8B
| $134M | 13.04% |
+991,900
| New | +$127M |
|
2
AbbVie
ABBV
$430B
| $76.5M | 7.46% |
1,221,723
-103,197
| -8% | -$6.3M |
|
3
Bank of America
BAC
$443B
| $56.6M | 5.52% |
2,562,400
+982,700
| +62% | +$18.9M |
|
|
4
Halliburton
HAL
$27B
| $56.3M | 5.49% |
+1,041,300
| New | +$51.9M |
|
|
5
State Street Financial Select Sector SPDR ETF
XLF
$58.6B
| $55.7M | 5.43% |
+2,397,500
| New | +$51.4M |
|
|
6
Citigroup
C
$231B
| $55.1M | 5.37% |
+927,100
| New | +$50M |
|
7
PNC Financial Services
PNC
$102B
| $54.5M | 5.31% |
466,000
+396,500
| +571% | +$41.2M |
|
8
Wells Fargo
WFC
$270B
| $52.9M | 5.16% |
+960,400
| New | +$48.3M |
|
|
9
State Street Industrial Select Sector SPDR ETF
XLI
$33.7B
| $51.5M | 5.02% |
+827,100
| New | +$49.8M |
|
10
LyondellBasell Industries
LYB
$19.3B
| $48.8M | 4.75% |
+568,500
| New | +$47.7M |
|
11
Merck
MRK
$317B
| $40.3M | 3.92% |
716,622
| – | – |
|
12
EOG Resources
EOG
$76.4B
| $38.5M | 3.75% |
380,800
+110,500
| +41% | +$10.8M |
|
13
Freeport-McMoran
FCX
$95.9B
| $38M | 3.71% |
2,882,600
-1,994,400
| -41% | -$25.5M |
|
14
Alcoa
AA
$12.3B
| $33.7M | 3.29% |
+1,200,800
| New | +$32.6M |
|
15
JPMorgan Chase
JPM
$961B
| $28.3M | 2.75% |
+327,500
| New | +$25M |
|
16
Nucor
NUE
$61.3B
| $21.5M | 2.1% |
362,000
+161,000
| +80% | +$9M |
|
17
AC Immune
ACIU
$228M
| $20.5M | 2% |
1,579,031
+79,031
| +5% | +$1.09M |
|
|
PXD
18
DELISTED
Pioneer Natural Resource Co.
PXD
| $20.2M | 1.97% |
112,300
+57,900
| +106% | +$10.6M |
|
|
YHOO
19
DELISTED
Yahoo Inc
YHOO
| $18.7M | 1.82% |
+483,100
| New | +$19.8M |
|
20
BHP
BHP
$221B
| $11.6M | 1.13% |
364,325
| – | – |
|
|
AZPN
21
DELISTED
ASPEN TECHNOLOGY INC
AZPN
| $11.5M | 1.12% |
+209,900
| New | +$11.5M |
|
|
P
22
Everpure Inc
P
$28.5B
| $10.5M | 1.02% |
926,133
-1,058,467
| -53% | -$13.7M |
|
23
Transocean
RIG
$5.73B
| $10.3M | 1.01% |
+701,700
| New | +$8.32M |
|
24
Williams Companies
WMB
$87.4B
| $10.2M | 0.99% |
327,300
+48,900
| +18% | +$1.47M |
|
25
Dover
DOV
$28.1B
| $10.2M | 0.99% |
+167,873
| New | +$9.7M |
|
Similar funds
Stanley Druckenmiller's Q4 2016 Portfolio in Review
As of Q4 2016, Stanley Druckenmiller held 60 positions worth $1.03B, down 9.3% from $1.13B the previous quarter. Its ten largest holdings account for 63% of the portfolio.
Stanley Druckenmiller withdrew a net $164M in Q4 2016, closing 28 positions and reducing 3 holdings. Its most notable exit was iShares MSCI Emerging Markets ETF, an estimated $170M position sold in full.
By sector, the portfolio is most concentrated in Financials at 24% of assets, up from 5.1% a quarter earlier, followed by Energy and Materials.
Against the trend, Stanley Druckenmiller opened a new position in iShares Russell 2000 ETF worth $134M.
- Stanley Druckenmiller's largest Q4 2016 buy was iShares Russell 2000 ETF: 991,900 shares worth $134M.
- Stanley Druckenmiller added most to PNC Financial Services in Q4 2016, an estimated $41.2M increase.
- Stanley Druckenmiller's biggest Q4 2016 reduction was Freeport-McMoran, cutting an estimated $25.5M.
- Stanley Druckenmiller fully exited iShares MSCI Emerging Markets ETF in Q4 2016, selling an estimated $170M.
- Stanley Druckenmiller's ten largest holdings make up 63% of its $1.03B portfolio in Q4 2016.
- Stanley Druckenmiller opened 19 new positions and closed 28 in Q4 2016.
- Stanley Druckenmiller's portfolio value fell 9.3% quarter-over-quarter to $1.03B.
Based on Duquesne Family Office's 13F filing for Q4 2016, filed 14 Feb 2017.