He was born in Pittsburgh in 1953. At the end of the second quarter, Druckenmiller's top five positions were Apple. In November, seeking to replace money it had lost on trades and through redemptions, the firm opened to new investments. They add up to ~53% of the portfolio. Stanley Druckenmiller is one of the titans of the hedge fund industry. [6], In 1985, he became a consultant to Dreyfus, splitting his time between Pittsburgh and New York, where he lived two days each week. Game Date: February 26, 2023 Game Time: 2:45 p.m. Mr. Druckenmiller is known as a passionate sportsman, both as a participant and spectator. Stanley Freeman Druckenmiller (born June 14, 1953)[1] is an American investor, hedge fund manager and philanthropist. The buy price is calculated from the weighted average of all purchases since the last sell-out of the investor. The five sons of Steelers founder Art Rooney Sr. were working to restructure ownership of the team, and Druckenmiller was contacted by a member or representative of the Rooney family about buying the shares of several of the Rooney brothers. Quantum forced a devaluation, earning a profit of more than $1 billion. [10] His biggest investments are Microsoft and Amazon in 2020. Druckenmillers most public claim to fame came when as the chief investment officer for industry legend George Soros, he helped engineer a huge bet against the British pound in 1992. After graduating in 1971 from Collegiate School in Richmond, Virginia, he attended Bowdoin College in Brunswick, Maine. Many of those investments . There was a ~10% trimming last quarter and a marginal reduction this quarter. I continue to care deeply about performing for our clients, and the stress of performing in a way that I consider to be disappointing -- even if you do not share that view -- persists in exacting a high emotional toll, with the result that I have concluded that this change is necessary, Druckenmiller told his investors. Stanley Druckenmiller started the family office in Q4 2011 after closing his hedge fund Duquesne Capital in 2010. He moved to Pittsburgh full-time in 1986, when he was named head of the Dreyfus Fund. Stanley Freeman Druckenmiller was born in Pittsburgh on June 14, 1953, to Stanley and Anne Druckenmiller. What Cramer is watching Monday back to 2020 on S&P 500, possible major OPEC+ oil cut. 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.. Bloomberg reporting. And, the positions the fund completely sold out in the quarter counted those in salesforce.com, inc. (CRM), Gilead Sciences, Inc. (NASDAQ:GILD), Medtronic plc (NYSE:MDT), Delta Air Lines, Inc. (NYSE:DAL), American Airlines Group Inc. (NASDAQ:AAL), and Kohls Corporation (NYSE:KSS). Mr. Druckenmillers career has not been without missteps. Duquesne Family Office was formed when decided to close the doors of his hedge fund Duquesne Capital to the outside investors in 2010 and to return client money. Name & Title converted to U.S. dollars at current exchange rates Read Get our editors daily picks straight in your inbox! Main Office He then focused on Duquesne and continued his successes, boasting an annualized 30 percent return for his career when he decided to close the hedge fund in 2010, tired of the stress of managing other people's money. S&P 500 Index lost 10.8% in 1957, so Buffetts investors actually thrilled to beat the market by 20.1 percentage points in 1957. His parents separated while he was in elementary school. Download 13F Summary Druckenmiller lost $2 billion in 1998 on collapsing Russian stocks and bonds, though still posted a gain for the year. Create Email Alert, ***Log In or Duquesne Capital Management Blogs, Comments and Archive News on Economictimes.com . Sorry, no results has been found matching your query. 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. The position was sold down to a very small 0.84% of the portfolio stake last quarter at prices between ~$19.50 and ~$26.80. 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. 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. Whalewisdom has at least 48 13F filings, and 4 13G filings. [23], Druckenmiller is also Chairman of the Board of Harlem Children's Zone, a multi-faceted, community-based project. Tuesday, March 7, 2023 10:00 - 12:00 a.m. EST. [26], In July 2008, Druckenmiller emerged as a potential investor in the Pittsburgh Steelers franchise of the National Football League. Investment Banking Finance Lending & Brokerage Finance Venture Capital & Private Equity. [18], In 2020, after the stock market crash and subsequent rally above pre-crash levels, Druckenmiller said he expects inflation in the US economy due to actions taken by the Federal Reserve. Booking Holdings (BKNG): BKNG is a 3.73% of the portfolio stake established in Q1 2021 at prices between ~$1886 and ~$2462 and the stock is now at ~$2262. Duquesne which oversees $12 billion has not reported a down year in its history, though it is down about 5 percent so far this year, according to a person briefed on the matter. ? Druckenmiller joined Dreyfus Corp. in 1986 and was soon running its main Dreyfus Fund. he was tired of the stress of managing money for others and frustrated by his failure in the past three years to match returns. There are 28 securities that are significantly large (more than ~0.5% of the portfolio each) and they are the focus of this article. Druckenmiller had it all in his head at once.. Duquesne Capital Management, LLC has disclosed 65 total holdings in their latest 13F filing with the SEC for the portfolio date of 2022-09-30. 76.35% of the companies in his portfolio are profitable, with an average P/E ratio of 37.69x3. Duquesne Family Office was formed when decided to close the doors of his hedge fund Duquesne Capital to the outside investors in 2010 and to return client money. View Map. Connect to CRM . email address below and choose 'Submit'. Procept BioRobotics (PRCT): PRCT had an IPO last September. Christopher Cannon, Dean Halford, Brittany Harris and Julian Burgess, of the total wealth of the 500 richest people in the world, of the top 200 U.S. executives total awarded compensation. Duquesne Capital - Stanley Druckenmiller assets under management (13F Holdings), latest news, 13D/G filings, and investor letters provided by Insider Monkey. or to simply have an email sent to you whenever we receive a new While equities were the firm's biggest exposure in the first three quarters of this year, losses in other strategies, including corporate debt and currencies, eroded those profits. The Battle of Fort Duquesne was a British assault on the eponymous French fort (later the site of Pittsburgh) that was repuls He declined to comment on his net worth through spokesman Shawn Pattison. Mr. Samuelson will stay at PointState "for several months" during a transition, Mr. Schreiber said, and will remain an investor in the firm. Our Standards: The Thomson Reuters Trust Principles. Stanley Freeman Druckenmiller (born June 14, 1953) is an American investor, hedge fund manager and philanthropist. Tekne Capital Management LLC Financial Services New York, New York In the regulatory environment after Duquesne, investors are exposed to substantial risks from very large cost disallowances without equivalent opportu-nities for gain. Mr. Miller plans to spend more of his time on philanthropy; last year he gave $100 million to the New York University Langone Medical Center to help start a neuroscience center. But the following years were difficult for the young stars and the old guard alike as they faced fallout from the bursting of the technology bubble, the introduction of the new European currency, a bear market, and then the subprime mortgage crisis, which in 2008 left the hedge fund industry with its worst ever returns. Q2 2020 saw the stake rebuilt at prices between ~$6.25 and ~$10.90. In 2010, he returned all of his investors' money and converted Duquesne into a family office. The stake was rebuilt over the next two quarters at prices between ~$1780 and ~$2880. Duquesne's programs have won praise for innovation and continued high quality including accolades as a "first-tier university," "top 100 undergraduate school," and "Most Popular.". Harlem Children's Zone was founded by Druckenmiller's college friend and fellow Bowdoin College alumnus Geoffrey Canada. Teck Resources (TECK): TECK was a 2.47% of the portfolio position built in Q4 2020 at prices between ~$12.25 and ~$18.85. Marries Fiona Biggs, niece of Barton Biggs, at home of Jack Dreyfus. [2]: S&P 500WhaleScore Mr. Schreiber also said in Friday's letter that the firm had "selectively reduced headcount" to simplify the business and help generate the risk-adjusted returns that clients expect. He acted in a couple of plays, and graduated magna cum laude in 1975 with a bachelor's degree in English and economics. Find company research, competitor information, contact details & financial data for Duquesne Capital Management LLC of Pittsburgh, PA. Get the latest business insights from Dun & Bradstreet. Shares started trading at ~$37.50 and currently goes for $35.74. Now well find out whether Ive just been in your hair too much or whether you really are inept.. September 28, 2010. For example S&P 500 Index returned 43.4% in 1958. In early 2019 he held large positions in Microsoft, Abbott Laboratories, Salesforce.com, Delta Airlines, and American Airlines. That followed a career-high 31 points against the Dukes in late . The original stake was built in 2017 at prices between ~$750 and ~$1190. Revenue. Q4 2019 saw a ~85% reduction at prices between ~$1740 and ~$1870. There was a ~63% selling over the last three quarters at prices between ~$118 and ~$149. He is also an avid golfer, with memberships at a bevy of exclusive clubs, including the National Golf Links of America in Southampton, N.Y., and Oakmont Country Club in Pittsburgh. In 1981, Druckenmiller founded his own firm - Duquesne Capital Management. The turnover rate is 39%. The current portfolio value is calculated to be $1.76 Bil. Valuations are Their last reported 13F filing for Q4 2022 included $2,020,266,796 in managed 13F securities 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. Talking about the Stanley Druckenmiller holdings in Microsoft Corporation, out of 100%, this company holds 15.88% of its portfolio. Suite 3200 He has two sisters, Helen and Salley, and a brother, Kurt. Two years ago Daniel Benton shut down his firm. Stanley Druckenmiller started the family office in Q4 2011 after closing his hedge fund Duquesne Capital in 2010. Both teams are fighting for playoff spots in the Eastern Conference. In 2013, Druckenmiller and Canada toured college campuses urging reform in taxation, health care, and Social Security to ensure intergenerational equity. people. But after years of managing other peoples fortunes, Druckenmiller joins a small but growing number of stars who are cutting their careers short. Recent activity follows. Most of his money is managed through Duquesne Family Office, a New York-based investment group he started with $3 billion in 2010. You are limited to the prior 8 quarters of 13F filings. 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. PointState's return this year is less than 1%, though it's gained 3.6% so far in December. Coupang Inc. (CPNG): CPNG had an IPO in March. Location. NEW YORK, NY Methodology: The Bloomberg Billionaires Index is a daily ranking of the world's richest Stanley Druckenmiller, the hedge- fund icon who boasts one of the best long-term trading records and the distinction of having made $1 billion for George Soros by . 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