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
|
+$178M |
| 2 |
NUAN
Nuance Communications, Inc.
NUAN
|
+$84.5M |
| 3 |
VanEck Gold Miners ETF
GDX
|
+$73.7M |
| 4 |
NextEra Energy
NEE
|
+$59.6M |
| 5 |
State Street Industrial Select Sector SPDR ETF
XLI
|
+$48.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
JPMorgan Chase
JPM
|
+$149M |
| 2 |
State Street SPDR S&P Biotech ETF
XBI
|
+$123M |
| 3 |
PayPal
PYPL
|
+$118M |
| 4 |
Workday
WDAY
|
+$91M |
| 5 |
Home Depot
HD
|
+$77.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 35.26% |
| 2 | Technology | 26.31% |
| 3 | Communication Services | 16.59% |
| 4 | Materials | 7.1% |
| 5 | Healthcare | 4.8% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Microsoft
MSFT
$3.64T
| $556M | 16.15% |
2,645,630
+845,805
| +47% | +$178M |
|
2
Amazon
AMZN
$2.98T
| $273M | 7.93% |
1,734,340
+29,640
| +2% | +$4.67M |
|
3
T-Mobile US
TMUS
$188B
| $228M | 6.62% |
1,994,124
+422,800
| +27% | +$46.9M |
|
4
Alibaba
BABA
$305B
| $160M | 4.66% |
545,755
+111,154
| +26% | +$29.3M |
|
5
Sea Limited
SE
$68.5B
| $151M | 4.39% |
981,083
-9,354
| -0.9% | -$1.26M |
|
6
Netflix
NFLX
$305B
| $139M | 4.04% |
2,783,720
-311,050
| -10% | -$15.5M |
|
7
PENN Entertainment
PENN
$2.73B
| $138M | 3.99% |
1,892,501
+845,707
| +81% | +$41.5M |
|
|
B
8
Barrick Mining
B
$64.3B
| $136M | 3.96% |
4,853,153
+581,553
| +14% | +$16.6M |
|
9
Starbucks
SBUX
$117B
| $126M | 3.65% |
1,462,100
+556,185
| +61% | +$44.4M |
|
10
JD.com
JD
$44.4B
| $118M | 3.43% |
1,521,943
+29,203
| +2% | +$2.03M |
|
11
Freeport-McMoran
FCX
$95.8B
| $98.8M | 2.87% |
6,318,400
-147,800
| -2% | -$2.13M |
|
|
NUAN
12
DELISTED
Nuance Communications, Inc.
NUAN
| $96.6M | 2.81% |
+2,911,525
| New | +$84.5M |
|
13
Mercado Libre
MELI
$95.5B
| $77M | 2.23% |
71,121
+35,416
| +99% | +$38.4M |
|
|
14
VanEck Gold Miners ETF
GDX
$23.9B
| $70.8M | 2.06% |
+1,808,825
| New | +$73.7M |
|
15
Alphabet (Google) Class A
GOOGL
$4.57T
| $60.4M | 1.75% |
823,620
-906,420
| -52% | -$69.1M |
|
|
16
NextEra Energy
NEE
$179B
| $59.9M | 1.74% |
+863,536
| New | +$59.6M |
|
17
Meta Platforms (Facebook)
META
$1.49T
| $54.4M | 1.58% |
207,895
-24,103
| -10% | -$6.22M |
|
18
Alnylam Pharmaceuticals
ALNY
$29.5B
| $53.6M | 1.56% |
368,419
| – | – |
|
|
RETA
19
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
| $53M | 1.54% |
543,901
+11,023
| +2% | +$1.38M |
|
|
SMAR
20
DELISTED
Smartsheet Inc.
SMAR
| $52.9M | 1.54% |
1,070,448
+53,493
| +5% | +$2.58M |
|
|
21
Workday
WDAY
$40.9B
| $50.8M | 1.47% |
236,095
-460,135
| -66% | -$91M |
|
|
22
State Street Industrial Select Sector SPDR ETF
XLI
$33.4B
| $50M | 1.45% |
+650,000
| New | +$48.6M |
|
23
Fidelity National Information Services
FIS
$21.5B
| $46.8M | 1.36% |
317,851
+150,271
| +90% | +$21.7M |
|
24
Verizon
VZ
$192B
| $33.8M | 0.98% |
567,443
+406,768
| +253% | +$23.6M |
|
25
Carnival Corporation Ltd
CCL
$40.4B
| $30.4M | 0.88% |
2,002,500
-796,225
| -28% | -$12.3M |
|
Similar funds
Stanley Druckenmiller's Q3 2020 Portfolio in Review
As of Q3 2020, Stanley Druckenmiller held 88 positions worth $3.44B, up 5.4% from $3.27B the previous quarter. Its ten largest holdings account for 59% of the portfolio.
Stanley Druckenmiller withdrew a net $168M in Q3 2020, closing 27 positions and reducing 14 holdings. Its most notable exit was State Street SPDR S&P Biotech ETF, an estimated $123M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 35% of assets, up from 29% a quarter earlier, followed by Technology and Communication Services.
Against the trend, Stanley Druckenmiller opened a new position in Nuance Communications, Inc. worth $96.6M.
- Stanley Druckenmiller's largest Q3 2020 buy was Nuance Communications, Inc.: 2,911,525 shares worth $96.6M.
- Stanley Druckenmiller added most to Microsoft in Q3 2020, an estimated $178M increase.
- Stanley Druckenmiller's biggest Q3 2020 reduction was JPMorgan Chase, cutting an estimated $149M.
- Stanley Druckenmiller fully exited State Street SPDR S&P Biotech ETF in Q3 2020, selling an estimated $123M.
- Stanley Druckenmiller's ten largest holdings make up 59% of its $3.44B portfolio in Q3 2020.
- Stanley Druckenmiller opened 16 new positions and closed 27 in Q3 2020.
- Stanley Druckenmiller's portfolio value rose 5.4% quarter-over-quarter to $3.44B.
Based on Duquesne Family Office's 13F filing for Q3 2020, filed 16 Nov 2020.