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 |
Microsoft
MSFT
|
+$117M |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$67.3M |
| 3 |
COUP
Coupa Software Incorporated
COUP
|
+$62.7M |
| 4 |
Intuitive Surgical
ISRG
|
+$56.1M |
| 5 |
Illumina
ILMN
|
+$44.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$193M |
| 2 |
iShares Biotechnology ETF
IBB
|
+$72.5M |
| 3 |
Salesforce
CRM
|
+$66M |
| 4 |
Citigroup
C
|
+$47.9M |
| 5 |
State Street Energy Select Sector SPDR ETF
XLE
|
+$39.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 50.5% |
| 2 | Healthcare | 19.6% |
| 3 | Consumer Discretionary | 11.76% |
| 4 | Industrials | 2.79% |
| 5 | Financials | 1.99% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Microsoft
MSFT
$3.66T
| $469M | 27.16% |
4,618,471
+1,093,171
| +31% | +$117M |
|
2
Amazon
AMZN
$2.99T
| $148M | 8.56% |
1,968,560
-397,340
| -17% | -$33M |
|
|
3
Salesforce
CRM
$156B
| $147M | 8.51% |
1,072,585
-480,115
| -31% | -$66M |
|
4
PUT
Tesla
TSLA
$1.29T
| $99.8M | 5.78% |
+4,497,000
| New | +$96.7M |
|
5
Abbott
ABT
$182B
| $93.7M | 5.43% |
1,295,700
+563,600
| +77% | +$39.6M |
|
6
Workday
WDAY
$42.3B
| $83.9M | 4.86% |
525,400
+76,900
| +17% | +$10.9M |
|
|
COUP
7
DELISTED
Coupa Software Incorporated
COUP
| $71.1M | 4.12% |
1,131,000
+990,900
| +707% | +$62.7M |
|
8
Adobe
ADBE
$102B
| $68.1M | 3.94% |
301,015
+33,685
| +13% | +$8.13M |
|
|
9
iShares MSCI Emerging Markets ETF
EEM
$29.7B
| $65.6M | 3.8% |
+1,679,700
| New | +$67.3M |
|
10
Gilead Sciences
GILD
$168B
| $64M | 3.71% |
1,023,345
-441,555
| -30% | -$30.9M |
|
|
11
Intuitive Surgical
ISRG
$130B
| $52.8M | 3.06% |
+330,900
| New | +$56.1M |
|
|
12
Illumina
ILMN
$30.7B
| $41.8M | 2.42% |
+143,406
| New | +$44.4M |
|
13
PayPal
PYPL
$50.1B
| $34.4M | 1.99% |
408,535
-318,965
| -44% | -$26.6M |
|
14
Medtronic
MDT
$110B
| $33.9M | 1.96% |
372,500
| – | – |
|
|
15
iShares Biotechnology ETF
IBB
$9.39B
| $33.8M | 1.96% |
350,300
-682,600
| -66% | -$72.5M |
|
16
Delta Air Lines
DAL
$61B
| $31.3M | 1.81% |
+626,600
| New | +$34.1M |
|
17
Alibaba
BABA
$309B
| $23.9M | 1.38% |
174,400
+96,020
| +123% | +$14.2M |
|
18
AC Immune
ACIU
$231M
| $23.5M | 1.36% |
2,491,517
| – | – |
|
19
Mercado Libre
MELI
$95.7B
| $21.7M | 1.25% |
+74,016
| New | +$24M |
|
20
Netflix
NFLX
$306B
| $17.7M | 1.02% |
660,100
+608,100
| +1,169% | +$18.2M |
|
21
American Airlines Group
AAL
$11B
| $16.9M | 0.98% |
+524,900
| New | +$18.3M |
|
22
Agilent Technologies
A
$39.3B
| $14.9M | 0.86% |
+221,300
| New | +$14.9M |
|
23
ServiceNow
NOW
$122B
| $14.6M | 0.85% |
411,000
-560,500
| -58% | -$19.9M |
|
|
HOLX
24
DELISTED
Hologic
HOLX
| $13.8M | 0.8% |
+336,700
| New | +$13.8M |
|
|
25
Alphabet (Google) Class A
GOOGL
$4.62T
| $11.8M | 0.68% |
225,980
-3,564,020
| -94% | -$193M |
|
Similar funds
Stanley Druckenmiller's Q4 2018 Portfolio in Review
As of Q4 2018, Stanley Druckenmiller held 53 positions worth $1.73B, down 18% from $2.1B the previous quarter. Its ten largest holdings account for 76% of the portfolio.
Stanley Druckenmiller withdrew a net $138M in Q4 2018, closing 22 positions and reducing 9 holdings. Its most notable exit was Citigroup, an estimated $47.9M position sold in full.
By sector, the portfolio is most concentrated in Technology at 51% of assets, up from 43% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Stanley Druckenmiller opened a new position in iShares MSCI Emerging Markets ETF worth $65.6M.
- Stanley Druckenmiller's largest Q4 2018 buy was iShares MSCI Emerging Markets ETF: 1,679,700 shares worth $65.6M.
- Stanley Druckenmiller added most to Microsoft in Q4 2018, an estimated $117M increase.
- Stanley Druckenmiller's biggest Q4 2018 reduction was Alphabet (Google) Class A, cutting an estimated $193M.
- Stanley Druckenmiller fully exited Citigroup in Q4 2018, selling an estimated $47.9M.
- Stanley Druckenmiller's ten largest holdings make up 76% of its $1.73B portfolio in Q4 2018.
- Stanley Druckenmiller opened 13 new positions and closed 22 in Q4 2018.
- Stanley Druckenmiller's portfolio value fell 18% quarter-over-quarter to $1.73B.
Based on Duquesne Family Office's 13F filing for Q4 2018, filed 14 Feb 2019.