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 |
Citigroup
C
|
+$74.8M |
| 2 |
Workday
WDAY
|
+$55.2M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$54.3M |
| 4 |
Salesforce
CRM
|
+$40.9M |
| 5 |
JD.com
JD
|
+$35.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Comcast
CMCSA
|
+$76.6M |
| 2 |
Merck
MRK
|
+$48.4M |
| 3 |
ServiceNow
NOW
|
+$45.4M |
| 4 |
Autodesk
ADSK
|
+$35.1M |
| 5 |
POT
Potash Corp Of Saskatchewan
POT
|
+$26.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 31.27% |
| 2 | Communication Services | 23.47% |
| 3 | Technology | 22.94% |
| 4 | Financials | 11.69% |
| 5 | Healthcare | 5.48% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Alphabet (Google) Class A
GOOGL
$4.6T
| $226M | 10.27% |
4,637,000
+1,144,000
| +33% | +$54.3M |
|
2
Microsoft
MSFT
$3.69T
| $216M | 9.85% |
2,906,100
+274,000
| +10% | +$20M |
|
3
Meta Platforms (Facebook)
META
$1.49T
| $185M | 8.42% |
1,083,600
| – | – |
|
|
4
Salesforce
CRM
$155B
| $143M | 6.49% |
1,526,500
+444,900
| +41% | +$40.9M |
|
5
Amazon
AMZN
$2.99T
| $140M | 6.38% |
2,916,060
+516,000
| +21% | +$25.3M |
|
6
Booking.com
BKNG
$151B
| $136M | 6.17% |
1,852,250
+279,000
| +18% | +$21.2M |
|
7
Alibaba
BABA
$310B
| $134M | 6.11% |
777,400
+67,200
| +9% | +$10.9M |
|
8
Electronic Arts
EA
$53B
| $84.3M | 3.83% |
713,900
| – | – |
|
|
9
JD.com
JD
$44.4B
| $83.5M | 3.8% |
2,185,100
+826,300
| +61% | +$35.4M |
|
|
10
Workday
WDAY
$41.3B
| $82.8M | 3.77% |
785,600
+535,300
| +214% | +$55.2M |
|
|
11
Citigroup
C
$231B
| $79.7M | 3.62% |
+1,095,200
| New | +$74.8M |
|
12
Trip.com Group
TCOM
$29.6B
| $74.5M | 3.39% |
1,412,200
| – | – |
|
13
PayPal
PYPL
$49.8B
| $59.2M | 2.69% |
925,200
| – | – |
|
14
Expedia Group
EXPE
$36.7B
| $46.6M | 2.12% |
323,884
| – | – |
|
|
ATVI
15
DELISTED
Activision Blizzard
ATVI
| $46.1M | 2.1% |
714,100
| – | – |
|
16
Las Vegas Sands
LVS
$30.2B
| $39.4M | 1.79% |
614,500
| – | – |
|
17
iShares Biotechnology ETF
IBB
$9.29B
| $36.9M | 1.68% |
332,100
+84,900
| +34% | +$9.07M |
|
18
Chubb
CB
$134B
| $29.5M | 1.34% |
+206,600
| New | +$29.9M |
|
19
Nektar Therapeutics
NKTR
$2.46B
| $28M | 1.27% |
77,740
| – | – |
|
|
CELG
20
DELISTED
Celgene Corp
CELG
| $27.4M | 1.25% |
+188,100
| New | +$25.6M |
|
21
AC Immune
ACIU
$228M
| $27M | 1.23% |
2,388,700
| – | – |
|
|
PX
22
DELISTED
Praxair Inc
PX
| $25.8M | 1.17% |
+184,700
| New | +$24.6M |
|
23
Vale
VALE
$63.3B
| $25M | 1.14% |
+2,478,800
| New | +$24.9M |
|
24
Yum China
YUMC
$16.5B
| $23.9M | 1.09% |
597,200
| – | – |
|
25
Mastercard
MA
$500B
| $23.3M | 1.06% |
165,200
| – | – |
|
Similar funds
Stanley Druckenmiller's Q3 2017 Portfolio in Review
As of Q3 2017, Stanley Druckenmiller held 48 positions worth $2.2B, up 18% from $1.87B the previous quarter. Its ten largest holdings account for 65% of the portfolio.
Stanley Druckenmiller deployed $204M of net new capital in Q3 2017, opening 14 new positions and adding to 9 existing holdings. Its largest new stake was Citigroup: 1,095,200 shares worth $79.7M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 31% of assets, up from 31% a quarter earlier, followed by Communication Services and Technology.
On the sell side, the largest reduction was Potash Corp Of Saskatchewan, an estimated $26.4M trimmed.
- Stanley Druckenmiller's largest Q3 2017 buy was Citigroup: 1,095,200 shares worth $79.7M.
- Stanley Druckenmiller added most to Workday in Q3 2017, an estimated $55.2M increase.
- Stanley Druckenmiller's biggest Q3 2017 reduction was Potash Corp Of Saskatchewan, cutting an estimated $26.4M.
- Stanley Druckenmiller fully exited Comcast in Q3 2017, selling an estimated $76.6M.
- Stanley Druckenmiller's ten largest holdings make up 65% of its $2.2B portfolio in Q3 2017.
- Stanley Druckenmiller opened 14 new positions and closed 11 in Q3 2017.
- Stanley Druckenmiller's portfolio value rose 18% quarter-over-quarter to $2.2B.
Based on Duquesne Family Office's 13F filing for Q3 2017, filed 14 Nov 2017.