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 |
Amazon
AMZN
|
+$307M |
| 2 |
Meta Platforms (Facebook)
META
|
+$105M |
| 3 |
PayPal
PYPL
|
+$103M |
| 4 |
Netflix
NFLX
|
+$93.3M |
| 5 |
Alibaba
BABA
|
+$75.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Russell 2000 ETF
IWM
|
+$257M |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$182M |
| 3 |
JPMorgan Chase
JPM
|
+$179M |
| 4 |
GE Aerospace
GE
|
+$93M |
| 5 |
iShares MSCI India ETF
INDA
|
+$85.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 28.75% |
| 2 | Technology | 26.79% |
| 3 | Consumer Discretionary | 23.26% |
| 4 | Healthcare | 9.42% |
| 5 | Financials | 3.65% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Amazon
AMZN
$2.98T
| $352M | 14.28% |
3,613,980
+3,169,620
| +713% | +$307M |
|
|
2
Netflix
NFLX
$305B
| $318M | 12.89% |
8,466,510
+2,637,910
| +45% | +$93.3M |
|
3
Workday
WDAY
$40.9B
| $215M | 8.71% |
1,649,211
+133,656
| +9% | +$22.5M |
|
|
4
Meta Platforms (Facebook)
META
$1.49T
| $207M | 8.41% |
1,243,752
+534,744
| +75% | +$105M |
|
5
Microsoft
MSFT
$3.64T
| $174M | 7.06% |
1,104,832
-515,601
| -32% | -$84.8M |
|
6
Alphabet (Google) Class A
GOOGL
$4.57T
| $162M | 6.58% |
2,794,240
+950,460
| +52% | +$64.4M |
|
|
ATVI
7
DELISTED
Activision Blizzard
ATVI
| $92.8M | 3.76% |
1,560,400
-91,955
| -6% | -$5.46M |
|
|
8
PayPal
PYPL
$49.4B
| $89.2M | 3.61% |
+931,198
| New | +$103M |
|
|
9
Alibaba
BABA
$305B
| $80.1M | 3.25% |
412,105
+361,180
| +709% | +$75.4M |
|
|
B
10
Barrick Mining
B
$64.3B
| $78.3M | 3.17% |
4,271,600
| – | – |
|
|
RETA
11
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
| $76.8M | 3.11% |
531,878
+105,159
| +25% | +$20.3M |
|
|
12
GE Aerospace
GE
$383B
| $63.2M | 2.56% |
1,598,257
-1,743,773
| -52% | -$93M |
|
13
Abbott
ABT
$182B
| $62.4M | 2.53% |
791,300
-125,000
| -14% | -$10.4M |
|
14
Home Depot
HD
$339B
| $57.7M | 2.34% |
309,100
-85,400
| -22% | -$18.7M |
|
15
Sea Limited
SE
$68.5B
| $52M | 2.11% |
1,173,938
-572,363
| -33% | -$25.7M |
|
16
Fidelity National Information Services
FIS
$21.5B
| $42M | 1.7% |
345,288
+163,673
| +90% | +$22.7M |
|
17
Alnylam Pharmaceuticals
ALNY
$29.5B
| $40.1M | 1.63% |
368,419
+252,250
| +217% | +$29.1M |
|
18
IQVIA
IQV
$37.7B
| $32.7M | 1.32% |
+302,855
| New | +$43.3M |
|
19
Qualcomm
QCOM
$166B
| $31.9M | 1.29% |
+472,150
| New | +$38.7M |
|
20
ServiceNow
NOW
$119B
| $31.5M | 1.28% |
550,150
+151,125
| +38% | +$9.45M |
|
21
JD.com
JD
$44.4B
| $23.5M | 0.95% |
579,894
+471,788
| +436% | +$18.9M |
|
|
DISH
22
DELISTED
DISH Network Corp.
DISH
| $19.3M | 0.78% |
966,100
| – | – |
|
23
Adobe
ADBE
$100B
| $19.1M | 0.77% |
59,930
+29,338
| +96% | +$10M |
|
|
24
iShares MSCI India ETF
INDA
$6.64B
| $18.1M | 0.73% |
750,450
-2,687,400
| -78% | -$85.9M |
|
25
TAL Education Group
TAL
$6.48B
| $16.6M | 0.67% |
+312,300
| New | +$16.8M |
|
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Stanley Druckenmiller's Q1 2020 Portfolio in Review
As of Q1 2020, Stanley Druckenmiller held 71 positions worth $2.47B, down 28% from $3.41B the previous quarter. Its ten largest holdings account for 72% of the portfolio.
Stanley Druckenmiller withdrew a net $675M in Q1 2020, closing 25 positions and reducing 14 holdings. Its most notable exit was iShares Russell 2000 ETF, an estimated $257M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 29% of assets, up from 16% a quarter earlier, followed by Technology and Consumer Discretionary.
Against the trend, Stanley Druckenmiller opened a new position in PayPal worth $89.2M.
- Stanley Druckenmiller's largest Q1 2020 buy was PayPal: 931,198 shares worth $89.2M.
- Stanley Druckenmiller added most to Amazon in Q1 2020, an estimated $307M increase.
- Stanley Druckenmiller's biggest Q1 2020 reduction was GE Aerospace, cutting an estimated $93M.
- Stanley Druckenmiller fully exited iShares Russell 2000 ETF in Q1 2020, selling an estimated $257M.
- Stanley Druckenmiller's ten largest holdings make up 72% of its $2.47B portfolio in Q1 2020.
- Stanley Druckenmiller opened 9 new positions and closed 25 in Q1 2020.
- Stanley Druckenmiller's portfolio value fell 28% quarter-over-quarter to $2.47B.
Based on Duquesne Family Office's 13F filing for Q1 2020, filed 15 May 2020.