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
|
+$245M |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$174M |
| 3 |
JPMorgan Chase
JPM
|
+$165M |
| 4 |
Workday
WDAY
|
+$139M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$119M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$349M |
| 2 |
Amazon
AMZN
|
+$229M |
| 3 |
ServiceNow
NOW
|
+$113M |
| 4 |
Visa
V
|
+$93.9M |
| 5 |
Mercado Libre
MELI
|
+$85.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 23.2% |
| 2 | Communication Services | 16.09% |
| 3 | Financials | 11.24% |
| 4 | Industrials | 6.94% |
| 5 | Healthcare | 6.92% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
iShares Russell 2000 ETF
IWM
$83.1B
| $257M | 7.53% |
+1,550,100
| New | +$245M |
|
|
2
Microsoft
MSFT
$3.68T
| $256M | 7.49% |
1,620,433
-2,374,270
| -59% | -$349M |
|
|
3
Workday
WDAY
$42.4B
| $249M | 7.31% |
1,515,555
+835,068
| +123% | +$139M |
|
4
Netflix
NFLX
$305B
| $189M | 5.53% |
5,828,600
+2,356,880
| +68% | +$69.9M |
|
5
GE Aerospace
GE
$391B
| $186M | 5.45% |
3,342,030
+363,505
| +12% | +$18.8M |
|
|
6
iShares MSCI Emerging Markets ETF
EEM
$29.7B
| $182M | 5.35% |
+4,065,100
| New | +$174M |
|
|
7
JPMorgan Chase
JPM
$952B
| $179M | 5.26% |
+1,286,900
| New | +$165M |
|
8
Meta Platforms (Facebook)
META
$1.5T
| $146M | 4.27% |
709,008
+566,940
| +399% | +$110M |
|
|
9
Alphabet (Google) Class A
GOOGL
$4.64T
| $123M | 3.62% |
+1,843,780
| New | +$119M |
|
10
iShares MSCI India ETF
INDA
$6.65B
| $121M | 3.54% |
3,437,850
+1,961,350
| +133% | +$67.2M |
|
|
ATVI
11
DELISTED
Activision Blizzard
ATVI
| $98.2M | 2.88% |
1,652,355
| – | – |
|
|
RETA
12
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
| $87.2M | 2.56% |
426,719
+253,434
| +146% | +$46.2M |
|
|
13
CALL
iShares Russell 2000 ETF
IWM
$83.1B
| $87M | 2.55% |
+525,100
| New | +$83M |
|
14
Home Depot
HD
$347B
| $86.2M | 2.53% |
394,500
-19,300
| -5% | -$4.37M |
|
15
HDFC Bank
HDB
$123B
| $81.5M | 2.39% |
2,572,200
+874,200
| +51% | +$26.6M |
|
16
Abbott
ABT
$183B
| $79.6M | 2.33% |
916,300
| – | – |
|
|
B
17
Barrick Mining
B
$64.1B
| $79.4M | 2.33% |
4,271,600
+347,300
| +9% | +$5.96M |
|
18
Sea Limited
SE
$68.4B
| $70.2M | 2.06% |
1,746,301
-696,984
| -29% | -$23.5M |
|
19
CALL
Uber
UBER
$147B
| $62.1M | 1.82% |
+2,089,100
| New | +$62M |
|
20
Freeport-McMoran
FCX
$96.5B
| $60M | 1.76% |
+4,572,051
| New | +$50.2M |
|
21
FedEx
FDX
$74.4B
| $51M | 1.49% |
+336,950
| New | +$51.9M |
|
|
MDCO
22
DELISTED
Medicines Co
MDCO
| $49.7M | 1.46% |
585,500
| – | – |
|
23
PNC Financial Services
PNC
$102B
| $47.3M | 1.39% |
+296,300
| New | +$44.5M |
|
24
Wells Fargo
WFC
$267B
| $46.7M | 1.37% |
+867,900
| New | +$45.5M |
|
25
Agnico Eagle Mines
AEM
$76.4B
| $46.1M | 1.35% |
747,500
+161,400
| +28% | +$9.37M |
|
Similar funds
Stanley Druckenmiller's Q4 2019 Portfolio in Review
As of Q4 2019, Stanley Druckenmiller held 72 positions worth $3.41B, up 33% from $2.57B the previous quarter. Its ten largest holdings account for 55% of the portfolio.
Stanley Druckenmiller deployed $511M of net new capital in Q4 2019, opening 29 new positions and adding to 12 existing holdings. Its largest new stake was iShares Russell 2000 ETF: 1,550,100 shares worth $257M.
By sector, the portfolio is most concentrated in Technology at 23% of assets, down from 48% a quarter earlier, followed by Communication Services and Financials.
On the sell side, the largest reduction was Microsoft, an estimated $349M trimmed.
- Stanley Druckenmiller's largest Q4 2019 buy was iShares Russell 2000 ETF: 1,550,100 shares worth $257M.
- Stanley Druckenmiller added most to Workday in Q4 2019, an estimated $139M increase.
- Stanley Druckenmiller's biggest Q4 2019 reduction was Microsoft, cutting an estimated $349M.
- Stanley Druckenmiller fully exited Visa in Q4 2019, selling an estimated $93.9M.
- Stanley Druckenmiller's ten largest holdings make up 55% of its $3.41B portfolio in Q4 2019.
- Stanley Druckenmiller opened 29 new positions and closed 10 in Q4 2019.
- Stanley Druckenmiller's portfolio value rose 33% quarter-over-quarter to $3.41B.
Based on Duquesne Family Office's 13F filing for Q4 2019, filed 14 Feb 2020.