685 Third Avenue Our best performing hedge funds strategy also returned 26.4% year-to-date and outperformed the S&P 500 Index by nearly 12 percentage points. [23], Druckenmiller is also Chairman of the Board of Harlem Children's Zone, a multi-faceted, community-based project. automatically! The index is a dynamic measure of personal wealth based on changes in markets, the economy and He managed to achieve about a 40% average annual return on a multi-billion dollar hedge fund over 25 years during his time at Quantum and a 30% average annual return on his Duquesne Capital Management over 30 years. They married two different strands of investing. Mr. Druckenmiller is known as a passionate sportsman, both as a participant and spectator. Hence, he closed the fund that has been running for 29 years (it was founded back in 1981) and had $12 billion in assets, and turned it into a family office, which, interestingly, still issues quarterly 13Fs. Bloomberg. Now that Stanley Druckenmiller has announced the closure of his Duquesne Capital Management, other portfolio managers Druckenmiller is former chairman and president of Duquesne Capital. There were also stocks in which Duquesne Family Office starter to lose faith and decided to lower its stakes during Q1, and those included Coupa Software Incorporated (NASDAQ:COUP), Workday, Inc. (NASDAQ:WDAY), AC Immune SA (NASDAQ:ACIU), and Okta, Inc. (NASDAQ:OKTA). Oscar Health (OSCR) and Palantir Technologies (PLTR):These very small (less than ~1% of the portfolio each) stakes were kept steady this quarter. Daily NewsletterDuquesne CapitalDuquesne Capital Stanley DruckenmillerDuquesne Family Office Q1 2019 Portfolio ChangesDuquesne Family Office Stanley DruckenmillerDuquesne Family Offices Latest MovesYahoo FinanceShow moreShow less. (11.91%), and BHP Group Limited (9.5%).2. [19] In 2015, Druckenmiller donated $300,000 total to the presidential candidacies of Christie, Jeb Bush, and John Kasich. I am not receiving compensation for it (other than from Seeking Alpha). You are limited to the prior 8 quarters of 13F filings. I've spent more than 20 years leading venture capital investments, and each has been a high-octane ride of do-it-now, break-it-faster, we-can-always-patch-it-later. The idea for the company emerged from their senior finance capstone coursewhich focused on designing quantitative models to outperform the market. Dish Network (DISH), Flex Ltd. (FLEX), KBR Inc. (KBR), Option Care Health (OPCH), and Sea Ltd. (SE): These are very small (less than ~1% of the portfolio each) stakes that were increased this quarter. Warren Buffett never mentions this but he is one of the first hedge fund managers who unlocked the secrets of successful stock market investing. Druckenmiller also invested $1 billion at the time of the founding of PointState Capital, a hedge fund started in 2011 by former Duquesne money managers. Druckenmiller was born in Pittsburgh, Pennsylvania, the son of Anne and Stanley Thomas Druckenmiller, a chemical engineer. As you can guess, Warren Buffetts #1 wealth building strategy is to generate high returns in the 20% to 30% range. Wednesday, March 1, 2023 10:03 a.m. | Wednesday, March 1, 2023 10:03 a.m. WASHINGTON The nominee for archivist of the United States made her second appearance before the Senate Homeland . He side-stepped the 1987 crash by selling out the morning of the collapse. over more than 4 decades of investing, Druckenmiller has never recorded a down year (his fund even notched a return of . Stanley Freeman Druckenmiller is a hedge fund manager, philanthropist, and investor. Team Turnovers: None. This quarter saw another ~15% stake increase at prices between ~$26 and ~$31. Here's Why. Among the top new positions were T-Mobile US, Inc. (NASDAQ:TMUS), The Home Depot, Inc. (NYSE:HD), General Electric Company (NYSE:GE), Mastercard Incorporated (NYSE:MA), Visa Inc. (NYSE:V), and QUALCOMM Incorporated (NASDAQ:QCOM). Duquesne Family Office is a New York -based investment management firm, founded in 2010 by Stanley Druckenmiller. Primary Industries. [18] Druckenmiller was a major supporter of Republican Governor Chris Christie of New Jersey. The Need for Speed in Trend-Following Strategies, Global Fixed Income: Volatility and Uncertainty Here to Stay, Morningstar Indexes' Annual ESG Risk/Return Analysis, 2023 Outlook: The Top Five Trends to Monitor in the Year Ahead, Show Me the Income: Discovering plan sponsor and participant preferences for cr, The Future of Infrastructure: Building a Better Tomorrow, For institutional investors, ETFs can make meeting liquidity needs easier, Gold: the most effective commodity investment, 2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios, Ten ways retirement plan professionals add value to plan sponsors. The stock currently trades at ~$118. * Duquesne, $12 billion in assets, never had losing year, * Druckenmiller said recent performance disappointing, * Druckenmiller helped in Soros $1 bln bet against pound (Updates with link to related story). This quarter saw the position sold down by ~80% at prices between ~$154 and ~$188. In the regulatory environment after Duquesne, investors are exposed to substantial risks from very large cost disallowances without equivalent opportu-nities for gain. Teck Resources (TECK): TECK was a 2.47% of the portfolio position built in Q4 2020 at prices between ~$12.25 and ~$18.85. Donates $36.5 million to build science center at Bowdoin College. Now well find out whether Ive just been in your hair too much or whether you really are inept.. [6], In 1985, he became a consultant to Dreyfus, splitting his time between Pittsburgh and New York, where he lived two days each week. George Soros, right, with Stanley Druckenmiller in 2000, when Mr. Druckenmiller resigned as manager of the Quantum Fund. [12] In November 2020, he stated that he owned both gold and bitcoin. He helped create a new hedge fund model by fusing those two separate traditions, Mr. Mallaby said. . At 09/30/2022: $1,763,329. Live Nation Entertainment (LYV): The 1.27% of the portfolio LYV stake was purchased last quarter at prices between ~$75 and ~$94 and the stock currently trades well above that range at ~$118. This quarter saw a minor ~3% stake increase. In this article, we are going to highlight Duquesne Family Offices most important portfolio changes in the first quarter of 2019. Insider Monkeys flagship strategy identifies the best performing 100 hedge funds at the end of each quarter and invests in their consensus stock picks. But Druckenmiller did back out of the first-quarter bet he made against the S&P 500, Duquesne's latest SEC filing shows. $10.1B can buy Druckenmiller's fortune is derived from the proceeds he's earned running hedge funds for more than 30 years. While the joy of winning for clients is immense, for me the disappointment of each interim drawdown over the years has taken a cumulative toll that I cannot continue to sustain.. UMass freshman guard RJ Luis torched Duquesne for the second time in two meetings, but the Minutemen fell 88-79 in Pittsburgh on Wednesday. Druckenmiller read "The Alchemy of Finance" by George Soros and recognized they shared the same investment style. The 2.46% of the portfolio SNAP position was established at prices between ~$44.50 and ~$77 and it is now below the low end of that range at ~$37. Mining, Quarrying, and Oil and Gas Extraction ($286 Million), Health Care and Social Assistance ($34.9 Million), Professional, Scientific, and Technical Services ($12.4 Million), Administrative and Support and Waste Management and Remediation Services ($0). With Mr. Soros, Mr. Druckenmiller helped pioneer an investment strategy that today is referred to as macro trading. Warren Buffett took 25% of all returns in excess of 6 percent. And in doing so, Druckenmiller has amassed a personal fortune of his own. At the time, PointState told potential clients that about 70% of assets were managed by Messrs. Schreiber and Samuelson, and the rest by teams focusing on everything from energy, materials and commodities to credit and distressed investing. While our clients were certainly pleased that we achieved positive results for 2008 and 2009 in a challenging environment, as you may have surmised I was dissatisfied with those results because they did not match my own, internal long-term standard, Druckenmiller said. Druckenmiller is chairman and chief investment officer of Duquesne Family Office. The stock is now at ~$466. Graduates from college preparatory school in Richmond, Virginia. Their last reported 13F filing for Q4 2022 included $2,020,266,796 in managed 13F securities and a top 10 holdings concentration of 68.68%. Duquesne Capital Management Blogs, Comments and Archive News on Economictimes.com . In 1976, he married his high school sweetheart; they divorced in 1980. This quarter saw a ~42% reduction at prices between ~$3190 and ~$3696. Summary. Freeport-McMoRan (FCX): FCX is a large (top five) 7.32% of the portfolio position purchased in Q4 2019 at prices between ~$10 and ~$13.50. We give you the access and tools to invest like a Wall Street money manager at a Main Street price. [1] He grew up in a middle-class household in the suburbs of Philadelphia. He has two sisters, Helen and Salley, and a brother, Kurt. Two years later, bets on the expanding technology bubble wracked up losses. Moderna (MRNA): The ~1% MRNA position was purchased in Q2 2021 at prices between ~$130 and ~$235. Toronto (31-32 SU, 31-32 ATS) travels to Washington to take on the Wizards (29-32 SU, 29-29-3 ATS) on Thursday at 7:10pmET from Capital One Arena. That would have been 9.35% in hedge fund fees. The elimination this quarter was at prices between ~$525 and ~$695. The holdings are concentrated with recent 13F reports showing around 50 positions, many of which are very small. In this article we present the list of 10 Stocks That Have Grabbed Stanley Druckenmillers Attention in 2022. The original stake was built in 2017 at prices between ~$750 and ~$1190. people. Druckenmiller deserves 95 percent of the credit, said Sebastian Mallaby, a fellow at the Council of Foreign Relations and the author of More Money Than God, a new book on the history of hedge funds. PointState has fared worse than many of its peers. The stake was rebuilt over the next two quarters at prices between ~$1780 and ~$2880. Duquesne Light Company A 2023 Project Management Internship in PITTSBURGH, Pennsylvania Reference #: 17604\ Duquesne Light Company, headquartered in downtown Pittsburgh, is a leader in providing electric energy and has been in the forefront of the electric energy market, with a history rooted in technological innovation and superior customer . Druckenmiller's small 0.74% of the portfolio stake goes back to funding rounds prior to the IPO. Expedia (EXPE): EXPE is a ~1% of the portfolio position first purchased in Q3 2020 at prices between ~$80 and ~$103. The current portfolio value is calculated to be $1.76 Bil. New York, NY 10017-4036, Chicago Office He is profiled in the book The New Market Wizards by Jack D. Schwager. Duquesne Capital had more than $12 billion in assets at the . In 2006, Druckenmiller gave $25 million to the organization. While at Soros, he played an important role in 1992 when the fund made a $1 billion worth successful bet against the British pound. [26], In July 2008, Druckenmiller emerged as a potential investor in the Pittsburgh Steelers franchise of the National Football League. In calculating net worth, Bloomberg News strives to provide the most transparent calculations available, Job specializations: Finance. Mr. Samuelson, 46, "has decided to retire from investment management," co-founder Zach Schreiber said in a letter to clients Friday. [25] The Stanley F. Druckenmiller Hall, built in 1997 at Bowdoin College, is named after Druckenmiller's grandfather and was dedicated to Bowdoin by Druckenmiller himself. Stanley Druckenmillers 13F portfolio value decreased from $3.08B to $2.76B this quarter. In the same report you can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12-24 months. Clark had eight assists and five steals for the Dukes (20-10, 10-7 . Easily embed the chart on your blog or website it will always update In 2006, he ranked among the top earners in an industry where managers like Druckenmiller can collect a 20 percent performance fee. Rocketreach finds email, phone & social media for 450M+ professionals. ET Game Venue: San Siro, Milan, Italy. Druckenmiller also managed money for George Soros from 1988 till 2000, as he was Portfolio Manager of Quantum Fund. 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